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#286 | David Oransky; Financial Planner who says make 1% of your assets Bitcoin | CPA & CFP

The Vance Crowe Podcast

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The Problem With Double Entry Bookkeeping

In the modern way, a banker would only need $10 in his vault and 10 depositors. He then lends 90 of those gold coins out to the entrepreneur adds a note receivable for 90 gold coins. You still have $100 or gold coins that every denomination you want to use on the asset side and 100 on the liability side. And so the problem is it's an inherently unstable system because if someone does default...

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