The Jim Rutt Show cover image

EP70 Art Brock & Ferananda Ibarra on Currencies

The Jim Rutt Show

00:00

Mutual Credit: The Differences Between Fiat Currency and Fiat Money

Fiat currency is encoded for scarcity what that means is you always owe more of it than exists. A mutual credit i can create a thousand dollars worth of money out of thin air but there's no offsetting interest generating liability all i've done is depleted my credit level. If we don't grow the economy next year to service the interest on the money we issued this year then we start having massive defaults and foreclosures.

Play episode from 44:05
Transcript

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app