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Josh Farley: "Money, Money, Money"
The Great Simplification with Nate Hagens
Why Do Commercial Banks Loan Money Into Existence?
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The finance sector has quadrupled in the past few decades. Paul volker, commenting on that, former chair of the fed, said there's not much going on to create more value. There's a lot of innovations that allow the financial sector to suck more wealth from the rest of the economy. We don't mention the fact i'm depleting our wealth stocks, but that money loan for productive production is directly increasing the claims on our finite resource base.
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highlights
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