Dalio explains what credit is and how it works

After receiving some feedback on a variety of articles this past month it has been pretty sobering to realize that many Bitcoin advocates simply have no idea how the current economic system works, especially what credit is, where it comes from and how it functions.

Ray Dalio, founder of Bridgewater Associates (the largest hedge fund in the world), put together a short guide called Principles (pdf) and later developed the video below to help explain “How The Economic Machine Works”:

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