![]() ![]() In Chapter 1 ("The Big Picture in a Tiny Nutshell"), I looked at the archetypical rises and declines of empires and their reserve currencies and the various types of powers that they gained and lost, and in Chapter 2 ("The Big Cycle of Money, Credit, Debt, and Economic Activity") and its appendix ("The Changing Value of Money") I reviewed the big money, credit, and debt cycles. Additionally, if you want a simple and entertaining 30-minute explanation of how what a lot of what I'm talking about here works, see "How the Economic Machine Works," which is available on YouTube. Past chapters from the series can be found here: Introduction, Chapter 1 and Chapter 2. Note: To make this an easier and shorter article to read, I tried to convey the most important points in simple language and bolded them, so you can get the gist of the whole thing in just a few minutes by focusing on what's in bold. ![]()
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