• howtoplaymonopoly

    @howtoplaymonopoly

    1 month ago
  • East New York, Brooklyn
  • . @howtoplaymonopoly . For most of the TWENTIETH century, two major constraints limited the amount of credit that could be created in the United States. The first was the Federal Reserve's legal obligation to have gold to support the paper currency it emitted. The second was the legal obligation of commercial banks to have liquidity reserves to support their deposits. Both restrictions were eliminated, allowing the credit to grow to inconceivable limits. When the gold stopped backing the world's money, the nature of the money changed. The result was the proliferation of credit that brought with it a transformation of the economic system itself. The production process ceased to be driven by savings and investment, as had been occurring since before the Industrial Revolution, and it was credit and consumption that began to boost economic dynamics. The creation of credit replaced to the accumulation of capital as a vital force of the economic system. The credit was multiplied by 50 since 1964-2007. Prosperity increased. Asset prices went up. Employment was created. The profits were shot. We live the most incredible boom in history... But it was supported by Monopoly money. In 2008, credit began to contract and the global financial system that was based on credit went into crisis. The whole House of Cards that were building the banker-based Wizards of debt can collapse at any time... โฌ†๏ธLink in the biographyโฌ†๏ธ โ€”No Copyright infringement intended. Vรญdeo Unknown Direct for credits/issue or write us [email protected] | Respect to Photographers & Influencers - - - - - - - - - #howtoplaymonopoly#money#financialeducation#financialfreedom#hustle#success#robertkiyosaki#millionairemindset#millionairementor#rich#minoritymindset#motivation#business#entrepreneur#investor#trader#forex#trading#bitcoin#realstate#investing
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    .
    @howtoplaymonopoly .
    For most of the TWENTIETH century, two major constraints limited the amount of credit that could be created in the United States. The first was the Federal Reserve's legal obligation to have gold to support the paper currency it emitted. The second was the legal obligation of commercial banks to have liquidity reserves to support their deposits.
    Both restrictions were eliminated, allowing the credit to grow to inconceivable limits.
    When the gold stopped backing the world's money, the nature of the money changed. The result was the proliferation of credit that brought with it a transformation of the economic system itself. The production process ceased to be driven by savings and investment, as had been occurring since before the Industrial Revolution, and it was credit and consumption that began to boost economic dynamics.
    The creation of credit replaced to the accumulation of capital as a vital force of the economic system. The credit was multiplied by 50 since 1964-2007. Prosperity increased. Asset prices went up. Employment was created. The profits were shot. We live the most incredible boom in history... But it was supported by Monopoly money. In 2008, credit began to contract and the global financial system that was based on credit went into crisis.
    The whole House of Cards that were building the banker-based Wizards of debt can collapse at any time... โฌ†๏ธLink in the biographyโฌ†๏ธ
    โ€”No Copyright infringement intended. Vรญdeo Unknown Direct for credits/issue or write us howtoplaymonopoly @gmail.com | Respect to Photographers & Influencers
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    #howtoplaymonopoly #money #financialeducation #financialfreedom #hustle #success #robertkiyosaki #millionairemindset #millionairementor #rich #minoritymindset #motivation #business #entrepreneur #investor #trader #forex #trading #bitcoin #realstate #investing

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