and when the elite does not see the forest because of trees. Like here.
The missing part, as in what Gold and its bank note is, is what that Debt is. Harvard teaches how to act in the system, but not what the system is. Mr Floran Homm is the leading YouTube representative of that School of Thought. The Harvard Business School.
The National debt is nothimg more than debt of the System with itself. The System owes the System. Each nation has one governement and one bank. The banks money is in Harvard teaching valued by its price tag in the international exchange system, but this statistic only shows how much the governing stake of the Sytem lent from the money creating part. It in now way shows how much each nation owes in values, items, information, humans or even respect to another shown in money.
The lower one, international debt, is therefore completely unclear. Is that each nations debt with its own bank or debt to other national banks based on Dollars?
In this system, when Mr Homm states on deflation in China, this does not mean, if the communist party pushed down consumer prices to keep the amount of money lower and rise that way the standard of living having cheaper prices and more affordable goods around, or if they sell to other nations by dropping the premium they asked for when being offered Euros and Dollars. It also sais nothing about the return of values back to China. China is no Western style economy.
And it can not ever off the Gold standard, based on exchange rates. The only other alternative is the Big Mac Index, if the price of all locally produced Big Mac is set in comparison to the hours needed to afford one at work.
Gold is a simple money back. It made sence in a simplier world before industrialisation. The current system is bad considering all problems it creates. Most were off better in the past.
A Big Mac, as a symbol, is a modern product. It has several ingredients from factories, is finaliesd in a workshop and is standardized product in terms of final production, ingredients and machines used.
Not everyone was able to turn the Gold of the Dollar into a more valuabe product back than. The Big Mac needs more hands than creating a Gold coin and represents our industrilalised way better.
If we have managed to finally kick out everyone that consides nuclear bombs able to singely destroy the entire world by one missguded explosion we also need to change our monetary system.
That is a fact.
