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Ep. 2070 Fiat Money and Debt Slavery, with Saifedean Ammous

The Tom Woods Show

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The Cantilon Effect in the Fiac System

People generally think of the cantilon effect in terms of money printing. Hereas if you borrow, you are the valuing other people's money and that allows you to get ahead of the inflation game. So the incentive is there for everybody to get into as much debt as they can. And the implication is that everybody ends on being a debd slave,. That's just, that's the winning strategy.

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