The Great Simplification with Nate Hagens cover image

Alex Gladstein: "Debt Colonialism, The Petrodollar, and Bitcoin"

The Great Simplification with Nate Hagens

CHAPTER

The Unsustainable Use of Energy

80% of our money is created when a commercial bank makes a loan and there is no tether at all to anything scarce or any resource. Every war that the US has fought abroad since 67 has been paid on the National Credit Card. For example, Americans are on the hook to pay one trillion dollar. We've already paid a trillion dollars on interest alone for the Afghanistan Iraq Wars. we're going to pay another trillion by 2030. So exactly you're right. All of these things we're doing out there with these massive oil power chips and all this stuff is all possible because of the currency system, 100%.

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