Debt Is Not Wealth—So Why Do We Treat It Like It Is?

“There is no means of avoiding the final collapse of a boom brought about by credit expansion.” — Ludwig von Mises A mortgage is a claim on your future labor. A government bond is a claim on future tax revenue. A corporate bond is a claim on future profits. The…

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The City Is Not London—How Babylon’s Temple Banks Built the Financial System

“Forgive us our debts, as we also forgive our debtors.” — Matthew 6:12 When we look into antiquity, we tend to see primitive people. But ancient Babylon (c. 2000–539 BCE) and our world today are not that far apart. Consider the temple. It was a colossus: a divinely sanctioned corporation…

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1694: The Year the World Changed

How Financial Extraction Was Invented—and Why We Mistook It for Reality “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until…

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