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#508 - Nate Hagens - The World's Coming Energy Catastrophe
Modern Wisdom
The Imbedded Growth Obligation
95% of our money is created at commercial as. They are not loaning out existing capital, they are creating money a as long as there's a credit worthy borrower. But what they're not creating is the interest on the loan. So right there, there's an imbedded growth obligation in system. Simultaneously, that growth draws down our natural capital and creates environmental externalities which aren't included in prices.
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