Introducing Creditism 101
This series of videos will explain why Capitalism evolved into Creditism, and why that matters to you.
From today, Macro Watch On Substack will begin rolling out a long series of short videos that will explain everything necessary to understand how the economy works in the 21st Century, in contrast to the way it worked before 1968 when Dollars were backed by Gold.
This new series will be called Creditism 101.
When completed, it will serve as a comprehensive course that teaches macroeconomics in our post-Capitalist era.
It may eventually even appear as a book.
These videos will be in addition to the conventional Macro Watch On Substack videos which typically focus on current developments in the global economy and how those developments are likely to impact asset prices. Those videos will continue to be produced on a regular basis as before.
The Creditism 101 videos will detail how the replacement of gold-backed Money with fiat Money between 1968 and 1971, and the subsequent explosion of Credit in the United States, fundamentally altered our entire economic system by removing many of the most important constraints that had limited economic growth up until then.
Creditism 101 will bring together in one place all the information that is required to understand macroeconomics in this age of fiat money. And it will explain why the economy works very differently today than it did in the past.
This knowledge is essential for understanding the new forces driving the financial markets in the 21st century.
The first of these videos, From Capitalism to Creditism, will be posted later today.