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Podcast: PRay TeLL, Dr. Hash
Episode: 292 Government Deficits Explained
Description: Money is imaginary, just numbers in a computer. Every year Government spends the imaginary money. Someone who receives that money puts it in the bank which then loans 10x that amount of money to more people, who then buy things, and the people who get that money put it in the bank which loans out 10x as much, over-and-over, so that the original money multiplies itself. Government then asks for its original money back as taxes and we all win because life gets better and better, and some people accumulate more savings. As simple as that sounds, and as...