Hello and in this episode

what am I going to talk about I've got a couple of things that I want to try and

mesh together and in my head it makes sense so hopefully by the time I've just

blubbed it all out we'll

get somewhere sensible but I wanted to talk about how banks create money what

the implications are for you actually owning anything given the

implications of that and then I kind of had a few thoughts on tech and

geopolitics that I wanted to mesh together so so not entirely certain what I'm going to call this episode yet, but hopefully once I've got it all out there, it will actually tie together quite nicely. At least it at least it did my head when I was thinking about what I wanted to talk about.

So first of all, let's talk about how banks create money because we've touched on this a couple

of times, but we haven't quite got into the sheer duplicitous horror of how it actually works.

So basically banks create money out of credit creation. So we have a debt-based system, you know I've talked about that. But the actual

process is quite disturbing because look you don't actually deposit money with a bank I know I know you may think that you deposit money into your bank but really you don't what you do is you are lending money to your bank.

It is legally their money the moment it's in their hands and if you go

down to your bank and you hand them a bunch of cash you have now become a general creditor to that bank.

That money that you've just given to them is now fully owned and controlled legally by that bank.

You're just now a general creditor, one of its customers.

You know, alongside if you have a small business,

if you've got a general creditor, you know,

the plumber, the landlord, whoever it is,

you've got a bunch of general creditors.

That's basically the status of somebody putting money into a bank.

I mean, there's some nuances around it,

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