5d • General discussion
New video going live now!
Why is the eurozone struggling while politicians keep insisting that cutting spending will fix everything?
Steve explains why the euro is the worst monetary system on the planet, and why the real issue may not be government spending at all.
He breaks down what happens when government bonds are sold to : The central bank, Private banks AND The non-bank private sector
The difference in outcomes is huge. 😬
One system supports money creation and growth.
Another cancels it, leaves GDP unchanged, and sends government debt soaring.
If you have ever wondered why austerity keeps failing, this one is for you. Drop your thoughts below once you have watched.
Do you think the eurozone can survive its current fiscal rules? 👇
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