#418: A First Principles Breakdown of the Monetary Crisis with Peter St Onge
TFTC: A Bitcoin Podcast
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The Instability of Our Banking System
The instability of our banking system is a large part of the boom bus cycle. Banks create most of the inflation, the economy via fractional reserve. Almost all of this is coming from commercial banks. Why? So that they can pretend that grandma's money is there when it's not. That strikes me as an insane policy.
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