Adrian Salbuchi on the Global Financial Crisis
Adrian Salbuchi is an Argentinian economist who has plenty to say about the banking system and the Global Financial Crisis. This video is a year or so old but it acts as a good introduction to his thoughts, and we’ll be covering more of his material in future.
Using his experience of the financial difficulties experienced in Argentina, Adrian explains the lead up to the Global Financial Crisis, describing the whole Global Financial System as one vast Ponzi Scheme, based on:
(1) Artificially controlling the supply of public State-issued Currency
(2) Artificially imposing Banking Money as the primary source of funding in the economy
(3) Promoting “doing everything by Debt” and
(4) Erecting complex channels that allow privatisation of profits when the model is in expansion mode and socialisation of losses when the model goes into contraction mode.
