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This was really excellent. So much history on the early origins of (non-precious metal type) money, such as the fiat that central banks now create worldwide.
Opened my eyes to the necessity of having fiat to facilitate development of business/industry/the economy, but it also addresses the risk of too much centralization. Like CAF he advocates the fiat creation function happen with local banks to distribute the investment viability comprehension (local bankers can better assess likely profitability / risk of lending to business creation.)
Long but reasonably comprehensible. A recommended listen.
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BTW, look it up. All banks are considered NON PROFIT. In the US, WE (the chattel) are the assets for the banks and this is what creates the credit for the bank. This is essentially what he is saying around 1:-05. The fact is that the entire system is about to change based on a new revaluation of currencies world wide… instruments all based on an agreed upon gold value.
An AWESOME discussion. At least 3 books of Dr. Farrell’s could be referenced here…
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