Backers of the Swiss Vollgeld suggest that if money is divorced from debt and if the government owns the banks' debt, then a run is impossible. Unfortunately, the real world is almost never so simple.
That the world is grossly overindebted is perhaps an obvious point. But by how much — and why — are less clear. Today total global debt stands at approximately $150 trillion, or 194% of global gross domestic product. And… READ MORE ›
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