Part 3/14:
It is argued that the fiat dollar system—where money is backed solely by government decree—was doomed from inception. The mainstream belief that “we owe it to ourselves” is dismissed as naïve, revealing instead that inflation has effectively been a theft from the populace’s savings. Banks, operating and profiting in ways that would land individuals in jail, echo the moral and psychological malaise pervasive in society. The scale of global debt overtakes $600 trillion, making the entire financial system insolvent—an indicator of impending collapse not just in the U.S., but worldwide.