Demographic Doom Podcast

52. A World Without Money: An Allegory For The Coming Collapse (23 min)

January 19, 2021

Glenn Campbell returns to his predictions of dire economic collapse using a new device: imagining a world without money. If society had no dollars, euros or yen, would the economy still be in trouble? It could be, says Glenn. —— Without currency, people could still trade with each other through direct barter and the next-order alternative: an exchange of promises. Instead of trading one product for another, you could trade one product for the *promise* of another, written on a piece of paper. For example, a chicken farmer could sell printed coupons that entitled the bearer to received one chicken at a future date, and these coupons could be traded like cash is today. The only problem arises when the farmer promises more chickens than he can produce. Then you would have a bubble that must eventually collapse. —— So why is the world economy in so much trouble today? Simple: There are far more outstanding promises than can possibly be fulfilled. — Website: DemographicDoom.com — Twitter: @DemographicDoom — See the video version of this episode for notes, comments, corrections & links to other resources: j.mp/dd_withoutmoney [ep 52, 19 Jan 2021]

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