I am writing about the Bankers who are driving 7 billion people off a cliff towards the certain destruction of our economic life. Money is a difficult subject to understand but I think it is worth the effort if it prevents Wall Street and the City of London from starving half a billion people to death and risking World War III for the rest of us.
I want to start with a simple but basic equation: M x V = P x T. The Money Supply M times the Velocity V or the number of times money changes hands in a year equals Prices times Transactions. We are already in a Depression. The real inflation rate in America is 8.5% so even if economic growth is 1.5% the economy is contracting 7% a year. Native born Americans under 55 have lost 4.9 million jobs since 2007. Depressions used to be called Monetary Contractions. Real wages are contracting. We have doubled the number of people receiving Disability since 2007 because the government needs to hide millions of unemployed people. Continue reading “The Counterfeiting Cannibals of Canal Street”