Except, America went pure FANTASY FINANCE the past few decades with the adoption of credit derivatives — the extension of the MONEY CREATION ENTITLEMENT of the Super–Rich! Never made any sense other than that – Timothy Geithner’s memo to Larry Summers during the Clinton Administration that the WTO Financial Services Agreement MUST contain a “credit derivatives clause” (uncovered by investigative reporter, Greg Palast) set the global financial stage!

First recommended for adoption by the American Bankers Association, the original Credit Default Swap created by Blythe Masters at JPMorganChase (she would later move on to BLOCKCHAIN TECHNOLOGY) —— the Group of Thirty, lobbyist group for the central bankers and founded by the Rockefeller Foundation in 1978, strongly recommended “the removal of legal risk” for credit derivatives, which the WTO inclusion and the many banker pieces of legislation signed by President Billygoat Clinton insured!!!

Fantasy finance —- when the Soviet Union dissolved from endless weapons expenditure in 1990/1991, the US simply opted for credit derivatives . . . doable since the USD was the world’s reserve currency!

[FYI: A subset of that money creation entitlement is CAP–AND–TRADE/CARBON PERMITS, allowing banks and energy corporations to create sums of $$$; how Al iGore accumulated his $300 million fortune!]