13: Finance is an Extractive Industry

I read Chapter 13 from my book, How to Dismantle an Empire. This explains how mortgages create the money supply and the interest rate creates inflation--when it goes down. I distinguish between money and wealth, which is the natural, physical and human capital. I suggest that, like the Godfather, we leave the money and take the assets. The money will just shoot us in the foot.

Third Paradigm on Substack: https://thirdparadigm.substack.com/
How to Dismantle an Empire: https://www.amazon.com/How-Dismantle-Empire-2020-Vision/dp/1733347607