Tuesday, February 16, 2016

The Botox Fix for a Sovereign Debt Burst

How can a country be sovereign if their government must borrow money to pay their bills? Worse yet, in order to create money the State must go to the central bank and pay interest for every new currency that is created out of thin air. The two key elements that explain the absurd foundation of the global debt pyramid are simple, 1) Fractional Reserve Banking. 2) Legal Tender Laws.

Read the entire essay from the View from the Mount archives

1 comment:

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