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#53: Edward Chancellor On What History Can Teach Us About The True Cost Of Easy Money

Superinvestors and the Art of Worldly Wisdom

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Is There a Central Bank, Vigital Currency?

In the seventeenth century, we own te was only a, a very limited banking system. And you couldn't increase the amount of gold by waving a wand. This meant that interest charge was more closely related to market forces than monetary policy. If there's no sort of finite supply of money, then the interest charges are always going to be somewhat random or somewhat set by some policy criteria. No one is ever going to fully understand the financial system well enough to set a perfect rate.

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