This podcast episode explores the evolution of the global economy since the breakdown of the Bretton Woods system in 1971. The episode highlights the transition from capitalism to creditism, where credit creation and consumption have become the primary drivers of economic growth. It discusses the importance of credit growth and the potential consequences of its contraction or austerity measures, emphasizing the need for government intervention to prevent a repeat of past economic downturns. The episode also examines the role of the Federal Reserve in controlling interest rates and the impact of quantitative easing and tightening on liquidity and the financial markets.
