Josh Farley: "Money, Money, Money"
The Great Simplification with Nate Hagens
00:00
What Happened to the Balance Sheet?
In the bank, their balance sheet in yours. So what mechanically happens is the bank says, whet, you know, the bank needs to balance its books. But from a biophysical perspective, suddenly, at that flick of the switch on the bank manager's computer, a million dollars more of potential claims on coal and ocean absorption and energy and timber came into existence. And another million dollars of purchasing power in the global economy just came intoexistence. That's an awful lot of what's happening to day.
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