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| [00:02.00] |
If the phrase sounds familiar, then it should. |
| [00:04.98] |
Just take a look at a ￡20 note. |
| [00:10.05] |
Bank notes have next to no intrinsic worth. |
| [00:13.22] |
They're simply promises to pay, just like the clay tablets of ancient Babylon four millennia ago. |
| [00:21.67] |
On the back of the $10 bill it says, "In God We Trust". |
| [00:27.10] |
But it's not really God you're trusting in. |
| [00:30.47] |
By swapping your goods or your labour for a fistful of these things, |
| [00:34.50] |
you're trusting the US Treasury Secretary not to repeat Spain's mistake and produce so many of the damn things |
| [00:41.25] |
that by the time you come to spend them, they're worth even less than the paper they're printed on. |
| [00:46.22] |
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