Trooster on Nostr: Oh man, I am really appreciative for Lyn’s insight into the 2008 meltdown. If you ...

Oh man, I am really appreciative for Lyn’s insight into the 2008 meltdown. If you have a copy, skip to page 276-281. In those 5 pages, I understood in language I could understand more than all I’ve heard or watched before.

“If there is 63 times as much total debt in the system (IOUs for dollars) as there is base money (actual dollars), then perhaps most of that debt is unrealistic and needs to all get wiped away? Or should policy makers step in and prevent that collapse from happening?”


Thanks for taking the time to write Broken Money LynAlden (npub1a2c…w83a). I’m chipping through it weekly as I sit at swimming lessons.

This helped me to realise the ‘dollar rug’ and ‘socialised bail out’. I kind of got it, but this helped.

Also, liked the analogy of 63 kids playing musical chairs with 1 chair, and ‘so long as the music played (the banks could trust the other was solvent), the music played’; until it didn’t.