Replying to Avatar Gus

Finally getting around listening to this staple!

Fascinating (and devastating) how Europeans eroded the wealth of some African people groups by obtaining/stealing their #wealth (in the form of other assets) through cheap production of the local #monetary exchange (glass beads).

Essentially what the government does now. Prints fake currency and purchases real #assets. Stealing #wealth from the middle class by further elevating the hurdle to buy into asset classes.

#assets #bitcoin #bitcoinstandard #wealth #wealthcreation #money #history #economy
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Papa ₿ 1y ago

Great book! You should check out Alex Gladstein’s book “Check your financial privilege” where he goes into how the financial system continues to prop up the old powers still today through wealth extraction from many poorer countries using debt in many cases disguised as assistance. Fascinating and sad at the same time.

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Gus 1y ago

Thanks! I’ll check it out! 😁

Using debt to extract wealth disguised as assistance sounds so diabolical!