"But paper money has always been a con game based on belief.
Neither the emperors of Rome, the Kings of France and England, or the chairmen of the Federal Reserve have been able to resist debasing the currency.
It makes both warfare and welfare possible.
Guns and butter are the health of the state and the death of sound money.
The counterfeiters always get first use of the bogus money before its purchasing power is diminished by the increased supply.
This is a pretty dodgy way to run a world economy.
But the assumption – encouraged by the powers that be – is that the an economy can be controlled with the right tweaks to the right dials by the right people wearing the right suits in the right government offices with the right university degrees".
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