Back in the final, dying days of 2012, Paul Tustain here at BullionVault offered a little fable to explain why money exists, how it is created by banks today, and why things could get very ugly tomorrow. You can read short sections of Money Printing for … Which means that, over time, Brad starts to owe Godfrey more and more tasks and jobs , which Paul says we can think of as “unreturned favors” (otherwise known as an “uf”).
Excerpt from:
Fiat Money from Banks: An Argument for Gold
Fiat Money from Banks: An Argument for Gold
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