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Money Illiterates

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2 mins read

I don’t blame Americans for being money illiterate. I didn’t know much about money or economics after I graduated college, either. It’s almost as if the American system banks on people not knowing jack about the economy. While I don’t blame people, ignorance of the economy is a major problem.

Seeing as how stonks are in the news, and the r/WSB bros are trying to pump silver, I thought it would be a good time to post some of Mark Dice’s gold and silver experiment vids. After watching and laughing and these, send them to you friends and ask, “Why don’t these people know that gold and silver is more valuable than a candy bar?”

Send them some links to Mises or Steve Keen. Ask them if they know that banks create American dollars out of thin air. Ask them what happens if people pay off debts. Ask them why the stonk market crashes over and over and over and why CNBC talking heads are pissed off at the little people.

Watch the whole series on YouTube.

Below are a couple videos of Steve Keens talking about how modern economists and officials view the real world and how money is made. The real problem is that some private individuals want to keep the economy an banking system just like it is, because they benefit tremendously from the status quo.

In the first video, Keen talks about student debt and Baby Boomers! It’s must watch. And furthermore, the Federal Reserve Banking system should be destroyed.

Steve Keen is one of very few economists – globally – who perfectly predicted the 2008 financial crisis. More recently he also predicted the Chinese economic downturn and deflation in Europe. How does he keep getting these predictions correct? The secret is to look at the elements of the economy that all mainstream economists deliberately ignore.
Steve Keen on money creation.

American son of the Appalachian mountains. Happily married father of several and devoted man of God. Hold fast.

2 Comments

    • I’m don’t know if he’s an advocate of MMT, but from what I’ve read and heard him say, it seems he understands that borrowing creates money. That’s how American “money” is created, after all, because we have a debt-based currency system. When people or government borrow money, the banks create more currency out of thin air – digital ones and zeros that we transact with every day.

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