icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Fiat money carcinogenic, like cigarettes & Monsanto’s Roundup – RT’s Keiser Report

Fiat money carcinogenic, like cigarettes & Monsanto’s Roundup – RT’s Keiser Report
A bankrupt UK businessman burning £70,000 in cash instead of handing it over to creditors is similar to the global monetary system which was set alight back in 2008.

“Bankers are doing a far better job than this guy,” says Stacy Herbert, explaining that he has merely burnt £70,000 (US$91,000), while bankers burnt $70 trillion in the last global financial crisis.

“They have burnt so many trillions of dollars, they now have to print up another $70 trillion.” She also notes that when central banks print money, it is actually the same as burning it.

Max Keiser notes that all fiat money is eventually going to zero. “The British pound has dropped in purchasing power by 99.5 percent, so it’s effectively gone to zero. The average lifespan from paper money to fiat money is 27 years, none have survived,” he says.

Max says people should avoid fiat money while there are alternatives. “Fiat money is like Monsanto’s Roundup, or cigarettes, they are carcinogenic. Fiat money is the same thing, it’s financially carcinogenic… You need to just set it on fire.”

For more stories on economy & finance visit RT's business section

5 billion views and counting: Watch the best vids, subscribe to RT's YouTube
Podcasts