Understanding the difference between money and credit
This podcast with Darcy Ungaro explains in simple terms the relationship between money and credit, and the consequences of detaching their values.
Note that in this podcast my assessment of the US Government deficit in the current year at 8% of GDP is significantly higher than that of the Congressional Budget Office at 6%. In my opinion, the outcome will be closer to $2.4 trillion than the CBO’s estimate of $1.9 trillion.
Please circulate this video as widely as possible. The more people who understand what is happening to their currencies, the more will know how to protect themselves from developing credit conditions.
Thank you Alasdair.
Liked this ' BUT ' - It's a constant and ongoing irritation to me ( so don't know how you feel ..?? )
when ' Newby Interviewers ' ( like this chap ) , don't seem to have done any homework to find out sufficient per who you are , what your background is - and more especially how they need to be far more appreciative of having the opportunity to learn at the feet of a true - ' Master ' .
This apart and not wishing to question your arithmetic ( 8% US budget deficit to GDP ) , but just to say that where any official US numbers are concerned ( Fed / Treasury / CRB / BLS ..et al ) , all I ever do is double the official figure and sometimes add a percent ort two just for good measure , and generally I tend not to be that far wide of the mark when looking at what figures John Williams and the Chapwood Index arrive at - but then I am just less than gifted amateur