3min chapter

Tom Bilyeu's Impact Theory cover image

Why Your Money Becomes WORTHLESS & How To Build Wealth In The NEW ECONOMY | Robert Breedlove

Tom Bilyeu's Impact Theory

CHAPTER

The Pyramid Scheme of the US Dollar

Fractional Reserve banking is effectively a pyramid scheme, right? You have more liabilities outstanding than you do assets in reserve. So if at any time the wrong amount of people come to redeem their money, you're bankrupt. Increasing nominal prices does not make you richer. I would say the moment we entered fractional reserve banking, it became a pyramid scheme. Was that day one? The dollar was redeemable for gold. Well, there was a brief moment where it stopped, then we got back on the gold stance. We spent the- The 1971 we break forever. Exactly.

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