Originally Posted by directimped
What do you expect, society is built like a house of cards. We have next to no resilience. Most of us are mortgaged up to our eyeballs, merely a few pay cheques from bankruptcy. Great, isn't it?
Events of Sunday the 15th of August 1971 set in motion the debt train wreck that was always going to happen. The only problem was identifying the date of the accident with any accuracy.
Notice how the amount of debt (credits = money to the counterparty) outstripped production from not long after that date. We have lived in a debt as money world since 1971, the outcome was inevitable. We were ALL forced to play the game.
Source:
https://web.archive.org/web/20130518...nflation-5.JPG