Bitcoin is Insurance on a Failing Financial System with Greg Foss (WiM169)
The "What is Money?" Show
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Inflation, I'm an Implicit Default, Right?
Alism: Inflation is the expansion of lacorancy, supply yet to pay off these obligations. The cost of that default is effectively being externalized on to the productive market society. With banks that are 25 times leveraged, which is what our banking system is, they need inflation so that the collateral increases in value. Alism: As henry ford said over a hundred years ago, if the average american understood how the commercial banking system worked, there'd be a revolution in the morning.
Play episode from 10:10
Transcript
