Putin Knows The Monetary System Is A Credit Based Ponzi Scheme: Lawrence Lepard

submitted by BravoVictor from (quoththeraven.substack.com)

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[–]JasonCarswellVoluntaryist 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (2 children)

ALL currencies everywhere are. That's their fundamental nature.

[–]BravoVictor[S] 3 insightful - 3 fun3 insightful - 2 fun4 insightful - 3 fun -  (0 children)

Ones that are based on fiat, yes. Ones that are tied to a hard commodity, no.

[–]HenryGeorgeOfficial 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

To be fair, that doesn't mean it doesn't work. It was Paul Samuelson who first referred to money as a "social contrivance". Economics is more complicated than "LOL ur money is fake, I'll stick to my cabin off the grid THANK YOU". Some things in economics are very counter-intuitive. A good example is a policy of deposit insurance which guarantees against bank runs but also prevents bank runs since back runs are caused by the fear that one will not be able to access one's deposits. So deposit insurance is a policy renders itself unnecessary and yet is therefore good. Very counter-intuitive. The "illusion" of the monetary system is just as counter-intuitive because it's a mass hallucination which renders itself real.

[–]Canbot 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (2 children)

Everyone knows it. Yet Russia still allows a Rothschild central bank.

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

The Rothschilds find the wars. No choice.

[–]Canbot 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

It doesn't have to be that way at all. The government can print it's own money. Not to mention commandeer assets, draft soldiers, etc.

[–]Dunwidit 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

Um... That post suggests that there are people who do not know that it's a debt-based Ponzi scheme. My granddaughters are 7 and 10 years old. They've known this ...for years now.... Please tell me there aren't adults.... You know what... never mind... My bad.