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Nate Hagens: "Episode 100 - The Great Simplification” (Interviewed by Kate Raworth)

The Great Simplification with Nate Hagens

NOTE

Stabilizing the Financial System for the Future

In order to stabilize the financial system for the long term, it is important to reduce the size of the financial system, disallow leverage that led to past crises, and tether currency to tangible assets like land or energy production. However, the current massive currency swaps and systems make it impossible to implement these changes. To prevent a collapse similar to the 2009 financial crisis, central banks and governments should have strategies to maintain transaction capacity and be willing to implement 'haircuts' where people may not own everything they believe they do. While there are measures that would make the financial system more stable, implementing them at present could actually break the system. Additionally, although a carbon tax is recommended, it would also have the potential to destabilize the financial system.

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