Hi folks, Jack Spirko here.

Today you are listening to an episode of TSP Rewind.

Commercial free versions of past episodes,

Podcasts from the pasts.

I put these up when I can't do a show due to professional commitments or rare vacations.

These podcasts will appear in standard iTunes stitcher and other feeds, but will be titled TSP rewind episodes and numbered accordingly.

And today we are rewinding back to May the 13th, 2010.

For those that are students of the history of the show, you know that by 2010 I was doing this full time from my home

office hence the audio is better than it was yesterday but it's it's probably if you're a newer

listener not the quality that you're accustomed to.

I was again definitely an upgrade from the car but I was still developing

the studio sound if you want to call that at this point and also I think this was

under a group of shows that got heavily compressed due to a bandwidth issue

when one of my hosts early on kicked me out for crushing their server even though they said

the bandwidth was unlimited they didn't actually mean that so there might be a little bit of extra

compression in this one but it is totally totally listenable and it is called the basic financial education we never

get in school. Well that's the key here this is a basic education but it's going to

seem very advanced if you've never been through this with me before.

And it's not because it's hard and it's not because it's complicated.

It's because the economic system that we're currently under, known as fractional reserve banking,

which we've been under in its current form since 1971,

when Nixon closed the last messages of the gold window,

...