The simplest explanation of money and banking ever told.
Writes Robert Katz:
In 1913 Wilson legalized counterfeiting, just for the government — we can’t do it. In 1933 Roosevelt made money illegal. If in 1913 you lent the government 50 double eagles (money), and they gave you a promissory note for it, that note would now enable you to reclaim just one of those double eagles — 98% fewer than you gave them, and the tax man has stolen a good portion of the remaining 2%. The rest of the grand illusion is the state’s provision of a continuous array of inferior services at an exorbitant price, competition prohibited by law.
