One who intends to leave others better off for his having existed.


"The Biggest Scam In The History Of Mankind"; A great explanation of how our currency system works

If a nation prints more money
like cutting a 16 inch pizza into 12 slices instead of 8
is each slice worth less?

What if the pizza shrinks while the number of slices rise?
If one family has meat and another is growing vegetables
could the meat family accept an I Owe yoU for some present meat
in exchange for some future vegetables
plus extra to compensate for waiting?
Like borrowing from a bank?

If the Veggie family exchanges present sustenance for future need
is the IOU money and the extra interest?

Like buying groceries with a credit card?

If the Meat family exchanges a Veggie IOU for an axe
is the transaction dependent on the IOU’s perceived value?

Like the trade-in value of a used car?

Could widespread consensus of an over-abundantly large crop
make the Veggie IOU worth less axe?

Like buying local corn after harvesting a bumper crop?

What could happen if the Veggie family issues or is thought to have issued
more IOUs than planted seeds?

Should an IOU backed by faith and credit
remain relatively stable as long as faith and credit exist?
"When national debts have once been accumulated to a certain degree
[there has never been] a single instance
of their having been fairly and completely paid

The liberation of the public revenue...
has always been brought about by bankruptcy
though frequently by a pretended payment [through inflation]"

Adam Smith
Moral philosopher and Father of Modern Economics
Have American legislators and the Federal Reserve
been abusing the dollar’s status as a reserve currency
to avoid overtly raising domestic taxation
by covertly taxing US dollar denominated assets like oil
by over-printing money?

Are taxes rising or falling if workers, savers and investors
are exposed to inflationary capital confiscation?
"Ponzi finance units must increase its outstanding debt
in order to meet its financial obligations

A transition occurs over the course of an expansion
as increasingly risky positions are validated by the booming economy
that renders the built in margins of error superfluous
encouraging adoption of riskier positions

Eventually, either financing costs rise
or income comes in below expectations
leading to defaults on payment commitments"

Hyman Minsky
Hypothetically, for every $100 deposit
a bank can lend about $90
which when deposited in another or the same bank
~$81 can be lent, of which $72.90 can be lent
then $65.61, $59.05, 53.14, 47.83, 43.05, 38.74
34.87, 31.38, 28.24, 25.41, 22.88, 20.59, 18.53, etc…

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