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by abracadaniel
783 days ago
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The video defines “financialization of housing” as referring to cheap mortgages and low interest rates, and not anything to do with fiat currency. It’s fine to offer your own theory, but trying to claim the video is about your theory when it’s not is disingenuous. That aside, claiming it is down to the use fiat currency doesn’t explain why it’s a new issue, when we’ve been on fiat currency longer than most of us have been alive. |
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leaving the gold standard allows the Federal reserve to create any amount of inflation they want which allows the government to loan as much money as they want as the Federal reserve can just print money to pay the debt.
the usa is currently hitting unforeseen levels of interest rates on that debt which means inflation is going to increase in perpetuity.
which means rich people need places to park their money as this is the beginning of massive currency devaluation