NBLM-How money is created?

This is an AI generated Episode that will discuss a video, podcast or read an article. This source traces the historical evolution of money, highlighting a shift from stable, commodity-backed systems like gold and silver to fiat currencies. It explains how governments, influenced by economists like John Maynard Keynes, began printing money to stimulate economies, a practice significantly accelerated when the U.S. dollar abandoned the gold standard in 1971 under President Nixon. The video argues that this move led to widespread inflation and a devaluation of currency, effectively diminishing the value of people's labor. Ultimately, the source suggests that the current system of unlimited money creation by central banks globally is unsustainable and posits that a return to a scarce and stable monetary system, potentially in the form of Bitcoin, may be the future. .Want to read the article your self? Check the original source: https://youtu.be/NWcG5cDfkyg?si=XuvQYncIYYKeunYC