In part one of this three part series, we consider why a country that issues debt in its own currency can't default unless it chooses to. We also explore how central banks can control interest rates on the national debt. We also consider whether it is possible for government borrowing to crowd out the private sector. Sponsors Shopify  NetSuite Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes Money In The Modern Economy: An Introduction – Bank of England – Q1 2014 Money Creation In The Modern Economy – Bank of England – Q1 2014 Congressional Budget Office 2017 Long-term Budget Outlook Going for Broke: Deficits, Debt, and the Entitlement Crisis – Michael D. Tanner Bernanke’s Paradox: Can He Reconcile His Position on the Federal Budget with His Recent Charge to Prevent Deflation? – Pavlina R. Tcherneva – Levy Institute (includes quotes referenced in episode by Ben Bernanke and Michael Woodford New Framework for Strengthening Monetary Easing: “Quantitative and Qualitative Monetary Easing with Yield Curve Control” – Bank of Japan Japan’s Debt Burden Is Quietly Falling the Most in the World – Bloomberg The Bone Clocks – David Mitchell Venezuela Is Starving – Juan Forero – Wall Street Journal Curse or Blessing? How Institutions Determine Success in Resource-Rich Economies – Cato Institute Forget Taxes, Warren Buffett Says. The Real Problem Is Health Care. – New York Times See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It is not normal to want prices to rise and currencies to lose their purchasing power. We look at the advantages of stable currencies and prices. Topics covered include: What's more normal, an inflationary or deflationary mindset?Why it is more normal for prices to fall due to productivity increasesHow central banks seek to overcome productivity-induced deflation by increasing the money supplyHow inflation and ongoing currency debasement encourage debt, the financialization of housing, and keep unprofitable companies in businessHow gold, Bitcoin, stocks, real estate, and other assets help us overcome currency debasement Sponsors LinkedIn Jobs – Use this link to post your job for free on LinkedIn Jobs NetSuite – Get your free KPI checklist Asset Camp Webinar Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes Is Japan finally becoming a "normal" economy?—The Financial Times Broken Money by Lyn Alden A Complete Guide to Understanding and Protecting Against Inflation—Money for the Rest of Us Related Episodes 431: The Long-term Bullish Case for Gold 429: Which Inflation Protection Strategies Worked and Which Didn’t?  389: Is Airbnb Intensifying the Housing Crisis? 253: Are IPOs the New Ponzi Scheme? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.