What is money and who rules the world? | Yanis Varoufakis | Escaped Sapiens #46
The Escaped Sapiens Podcast
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The Reversal of Capitalism
Finance is the link pin for this new system called capitalism. Bankers emerge as the liquidity provider of the system, the lubricators of the system. The more this system becomes efficient, the greater the cut that the bankers retain. But at some point they extracted so much value from the future that the present could not deliver, could not repay the future. And that's when promises are broken. Dead are issued that cannot be repaid. That's an economic crisis. At that point you have a situation where the alienated ability of humankind is in crisis,. It's in the vortex and you've got unpayable debts.
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