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Commodity-Based Money (Gold, Oil) is Undesirable [Eurodollar University, Ep. 230]

Eurodollar University

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The Fina Apocalypse

We had only 433 million in vall cash before the fina apocalypse arrived. What did increase by less than a factor of ten, but let's jus call it ten? Two point four billion in bank reserves from 266 million. It's like we've talked about before, this ledge form of fective currencies, which is no bank centred. By the time you get to 19 29, i think you can already understand why the great depression crisis, the collapse, was so bad. Because when everybody, the public, rushed to convert this funny ledger stuff into physical currency, there wasn't a whole lot of physical currency there. You're basically screwed.

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