Hello, everyone. Have we got an incredible episode for you today? This is Chapter 5 of the Crash Course. Today, we're talking about debt. If you want to have the opportunity to be treated like an adult, have complete context, and maybe understand where the world is going and why, you're going to love this chapter and of course the entire crash course this is only

for people who prefer to change through insight rather than pain for those who can't see this coming

i predict a lot of pain is coming and that's going to be the majority of people unfortunately

but for the few the proud the people who are capable of looking at the data seeing it for what it is

and then making decisions this is for you today debt big chapter where do we go let's start here

this is going to be it's going to take a little while to get through it but it's going to be worth

it every step of the way trust me all right All right. So here's the thing about debt.

We have a debt-based money system right now. Now, not all money systems are debt-based.

When we're on a gold-back system, that's not a debt-based money system. But now we have a debt-based

money system, as you learned in chapter two on banking on money and chapter three on banking,

we have a modern system of banking that, well, it creates money out of thin air. When the,

when the debt is created, money is created at the same time. So money and debt are linked concepts

because we have a debt-based money system. Now, that's a very profound statement.

If you really unpack that and you get to understand it at a fairly deep level, you come to

this conclusion, which is that there is always more debt than money in the system. This is

information that comes to us from the Federal Reserve itself on the top line.

What we're seeing is debt in orange and then in the blue line is money.

So this is total money in the system and total debt in the system.

And you can clearly see that there's a lot more debt than money in the system.

So how does that work?

Right.

Because in theory, what should be happening is a unit of debt is created, a unit of money is created, and then when the debt's paid back, those extinguish each other,

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