by: Grant Cagann
You hear the term “ponzi” associated with our economy quite a bit these days. Of course we all think of a ponzi in terms of multi-level marketing, or a pyramid scheme. As cliche is this term sounds, there really is no better way to describe the current state of our financial pwnership.
HOW THE SCHEME WAS SET UP IN 1913 (and continues today):
1) Create lots of debt,
2) Expand the borrowings of government to the max.
3) Allow Central Banks step in and buy the debt to keep the game going (a.k.a. the monetization of debt)
…and there you have it. Every war, financial crisis, financial news story, 1%v.99% argument, etc. looks different through this lense.
WHOM DO YOU SERVE?