Part 1/13:

A Deep Dive into Economic Bubbles and the Future of Sound Money

The Root of Credit Bubbles: Dishonest Banking and Inflation

Kaiser Johnson, representing Liberty and Finance, opens with a critical insight into the nature of credit bubbles. He attributes their formation to dishonest banking practices that generate fake dollars—fiat currency unbacked by tangible assets like gold. These phantom dollars often get mistaken for genuine loanable funds because of inflationary policies, which print money that ultimately can't be redeemed for gold or real value. This misrepresentation leads people to believe that businesses and investments are profitable when, in truth, they're riding an inflationary wave masking systemic vulnerabilities.