A function economy is built on people who defer some of their consumption as savings. Those savings are lent to productive businesses who create wealth and grow the economy for everyone. However in a world of unbacked fiat currency inflation, purchasing power erodes, real income declines and the incentive to save money is gone.
In this video I talk through some new models I created that were inspired by a segment on Renegade Inc featuring Alastair McCleod.
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not sure if I commented this one ... I am losing steemit comments... thanks for the new model ... you will need a new one with crypto and fiat at the same time concurrently ...
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Brillant explanation, simplifying very complex Subject to masses. And sharing the truth on how the economy is working. Crypto possible is part of solution, it's at the infancy stage, being disrupter, it will need to time to evolve and go mainstream.
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As a visual person, I appreciate the model illustrations.
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Would the natural extension of your diagram (assuming growth of cryptocurrency) be that bitcoin might become what the gold standard used to be? It would seem reasonable if the above comment is true, that btc could become the standard that fights fractional reserve.
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so true
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I've watched your 100s of videos over more than a year and this just became one of my favorites. Thank you CC for the great video.
When broken down to its "simplest" parts, I believe you've touched on some very important parts
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Great explanation!!
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Interesting topic. Thanx.
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Your dynamic and interactive presentations are great and well appreciated as they provide some great perspective! Great work on being an ambassador to the community!
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