The Destructive Force of Bank Credit Alasdair Macleod, John Williams and Quinton Hennigh return as guests on this week's radio program. Commentators routinely confuse the deflationary effects of a contraction of bank credit with the inflationary effects of central bank policies designed to offset it. Central banks always ensure their stimulus is greater, so inflation, not deflation, is always the outcome. The mind of a banker will be explored to understand how and why money is created, and why expansion is always followed by a sharp contraction. But now with COVID-19 arriving as the global economy was already facing a contraction of bank credit, supply chain disruption is setting up the greatest global payment crisis in history. Central banks, led by the Fed, will issue so much base currency that fiat currencies will become almost worthless and asset prices will soon rise exponentially. Ways to protect yourself and loved ones will be explored. And Dr. Hennigh will share some exciting news for Irving Resources. Listen to Audio
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