#AES #Bitcoin §25 Problems with a Financialized Economy
Back in the day, the Mississippi bubble was one of the biggest asset bubbles known to the modern world. This bubble led France into prosperity. Then, the same bubble caused the opposite to happen, leaving France bankrupt and insolvent. Worse off than when John Law started rehypothecating debt-based assets, co-mingled and obfuscating private-public accounting. Bank failures are not new. It’s the same scam over and over.