{"id":352814,"date":"2018-03-19T00:27:56","date_gmt":"2018-03-18T23:27:56","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/how-long-can-we-get-away-with-it\/"},"modified":"2018-03-19T00:27:56","modified_gmt":"2018-03-18T23:27:56","slug":"how-long-can-we-get-away-with-it","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/newswire\/how-long-can-we-get-away-with-it\/","title":{"rendered":"How Long Can We Get Away With It?"},"content":{"rendered":"<div>\n\t\t\t\t\t\t\t                            \t<!-- S3 Cache --><!-- S3:S3:Non-Original -->\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<p><i>Alas, fakery isn\u2019t actually a solution to fiscal\/financial crisis..<\/i><\/p>\n<p><b>This chart of \u201cdebt securities and loans\u201d\u2013i.e. total debt in the U.S. economy\u2013is also a chart of\u00a0<i>the creation and distribution of new money<\/i><\/b>, as the issuance of new debt is the mechanism in our financial system for creating (or \u201cemitting\u201d in economic jargon) new currency: when a bank issues a new home mortgage, for example, the loan amount is new currency created out of the magical air of fractional reserve banking.<\/p>\n<p><a href=\"https:\/\/s3.amazonaws.com\/lrc-cdn\/assets\/2018\/03\/TCMDO3-18.png\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-676037 aligncenter\" src=\"https:\/\/s3.amazonaws.com\/lrc-cdn\/assets\/2018\/03\/TCMDO3-18.png\" alt=\"\" width=\"651\" height=\"589\"  \/><\/a><\/p>\n<p><b>Central banks also create new currency at will, and emitting newly created money is how they\u2019ve bought $21 trillion in assets such as bonds, mortgages and stocks since 2009.<\/b>\u00a0Is there an easier way to push asset valuations higher than creating \u201cmoney\u201d out of thin air and using it to buy assets, regardless of the price? If there is an easier way, I haven\u2019t heard of it.<\/p>\n<p><b>Which brings us to the question: how much longer can we get away with this travesty of a mockery of a sham?<\/b>\u00a0How much longer can we get away with creating \u201cmoney\u201d by issuing new debt\/liabilities to grease the consumption of more goods and services and the purchases of epic bubble-valuation assets?<\/p>\n<p><b>Since humans are still using Wetware 1.0 (a.k.a. human nature), we can constructively refer to the Roman Empire\u2019s experience with creating \u201cmoney\u201d with no intrinsic value.<\/b>\u00a0The reason why the Roman Empire (Western and Eastern) attracts such attention is 1) we have a fair amount of documentation for the period, something we don\u2019t have for other successful empires such as the Incas, and 2) we\u2019re fascinated by the decline and collapse of the Western Empire, a structure so vast and successful that collapse seemed impossible just a few decades before the final unraveling.<\/p>\n<p><span class=\"amazon-element-wrapper-custom align-right...<\/span><\/p>\n<\/div>\n<p><a href=\"https:\/\/www.lewrockwell.com\/2018\/03\/charles-hugh-smith\/how-much-longer-can-we-get-away-with-it\/\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alas, fakery isn\u2019t actually a solution to fiscal\/financial crisis.. This chart of \u201cdebt securities and loans\u201d\u2013i.e. total debt in the U.S. economy\u2013is also a chart of\u00a0the creation and distribution of new money, as the issuance of new debt is the mechanism in our financial system for creating (or \u201cemitting\u201d in economic jargon) new currency: when [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-352814","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/352814","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=352814"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/352814\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=352814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=352814"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=352814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}