The gist of the problem is not banks, per se... but "fractional reserve" credit expansion by the United States (and other nation states) government.
Ever-increasing debt expansion beyond real underlying production growth is the root cause of monetary debasement over time.
Not "money printing," as is commonly stated.
The Federal Reserve is not the source of this credit expansion but, rather, the facilitator of ongoing Congressional misbehavior as the buyer of last resort of (unlimited) US government debt.
The great sleight of hand is the US government's ability to utilize the Federal Reserve to monetize it's own debt... covertly debasing the currency and stealing the purchasing power of its own citizens.
#Bitcoin fixes this.
Dr. Jeff / Dr. Jeff Ross
npub1k7…3c04l
2023-09-05 00:08:14
Author Public Key
npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04lPublished at
2023-09-05 00:08:14Event JSON
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"content": "The gist of the problem is not banks, per se... but \"fractional reserve\" credit expansion by the United States (and other nation states) government.\n\nEver-increasing debt expansion beyond real underlying production growth is the root cause of monetary debasement over time.\n\nNot \"money printing,\" as is commonly stated.\n\nThe Federal Reserve is not the source of this credit expansion but, rather, the facilitator of ongoing Congressional misbehavior as the buyer of last resort of (unlimited) US government debt.\n\nThe great sleight of hand is the US government's ability to utilize the Federal Reserve to monetize it's own debt... covertly debasing the currency and stealing the purchasing power of its own citizens.\n\n#Bitcoin fixes this.",
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