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A friend of mine said that the only reason why we have recession/depressions is because of capitalism. I posted the following. Actually, the only reason we have recessions and depressions are because of the state's manipulation of the money supply. Due to it's monopoly on currency, the state...
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It's very difficult to find an explicit description of the entire process. I think I understand the story, but I want to run this by you guys to see if you spot any errors: The Process of Monetization of the Debt (1) The US government runs a deficit and borrows money by issuing bonds that must be...