Friends, you often hear me talk about the fact that America has a debt-based monetary system. But what exactly does that mean?
Put simply, it means that money is debt. That may be a hard concept to grasp. I know that I was stunned when I learned this concept many years ago. However, until you grasp this important concept, the incentives driving the financial industry and our leaders in Washington will make little or no sense.
I recently found this very helpful video online. It is a very simplistic explanation of how the U.S. dollar is really nothing but a piece of debt.
Its about 45 minutes. So plan on taking some time to watch this. (Warning: While this documentary really nails the problem, it stumbles a bit when it attempts to present a solution. Keep that in mind.)
PRAISE FOR JERRY 'S BOOK "Jerry Robinson does an excellent job of explaining the 'Petrodollar' system. His book explains exactly how this will come about, but equally important is the comprehensive section on what you can do to protect yourself."
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