Wed, 6 May 2020
As the economy appears to struggle from Covid-19, the price of homes seem to be moving up. Jason Hartman discusses the unexpected price changes in the U.S. due to the shrinking market availability.
Ellen Brown is today’s guest here to discuss Universal Basic Income, UBI. As well, she shares some interesting details about what happens to the money when a debt is paid. How did China increase its money supply by such a large percentage in two decades?
[4:00] Why are home prices going up as the economy appears to be falling apart?
[7:00] From March 2019 to March 2020, homes available on the U.S. market have gone down by 10%.
Guest: Ellen Brown, author of over a dozen books including, The Public Bank Solution, From Austerity to Prosperity
[12:30] What is a postal account?
[20:45] What is the end game of money spending?
[22:10] Money is lent into existence. Banks create the principal but they don’t create the interest, so debt always grows faster than the money supply.
[25:00] The real economy is always short of money because there’s a hole in the bucket that always drains into the financial economy.
[26:00] What is the financialized economy?
[30:20] Debt grows until it gets so high that people can’t borrow anymore, so they pay down their debts instead of taking out new debts. That shrinks the money supply. That goes into deflation which goes into depression.
[32:30] Money evaporates when it pays off the debt.
[36:30] All of our money is credit. China increased its money supply by 1800% in twenty years, and they did not run into hyperinflation. Find out more.
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Direct download: CW_1455_Ellen_Brown_UBI.mp3
Category:general -- posted at: 5:00pm EDT