Dick Eastman with Abel Danger Live · Monday, June 24, 2013 at 2 P.M. EST
The idea is to replace the system that inevitably leads to a Great Deflation through net interest drain. Our money today is almost exclusively loan deposits that we transfer among ourselves by writing checks. Those deposits were created by banks, in exchange for a borrower obligation to return the loaned amount plus compound interest. Since the interest above the loan amount was never created, the difference has to be paid by a transfer of real assets in foreclosure.