3min chapter

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Debt: The First 5000 Years (Audiobook) David Graeber

Notus & Friends

CHAPTER

The Scam of the Financial Capitalists

Many, if not most, of them had been nothing more than very elaborate scams. They consisted of operations like selling poor families mortgages crafted in such a way as to make eventual default inevitable. The total amount of debt they had run up was larger than the combined gross domestic products of every country in the world. And it threw the world into a tail spin and almost destroyed the system itself. Armies and police geared up to combat the expected riots and unrest, but none materialized - neither have any significant changes in how the system his run.

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