Episode 124
How The Banking System Destroys The Middle Class | Ep 123
August 7, 20251h 15m
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Show Notes
In this episode, Mark and Brent dive into the uncomfortable truth behind our modern financial system:
- The Bank of Canada may have held its policy rate at 2.75%
- Economist Richard Werner explains how banks create money out of thin air—not by lending deposits, but by issuing new credit
- George Gammon outlines how this fuels inflation, asset bubbles, and the so-called Cantillon Effect, where the rich get richer while the middle class gets crushed
- Saifedean Ammous calls it a moral failure that punishes savers and rewards debt and speculation
- We explore how this system affects democracy, increases government overreach, and forces people into a financial squeeze with only two ways out: up or down
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