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The Economic Machine: How It Should Work—And How We Broke It

Summary Statement:
This exposition offers a structured analysis of the economic machine as it was designed to function—beginning with gold as the immutable collateral base, layered by credit creation, decentralized banking, and productive enterprise. It explores how this system can generate a broad tax base and real economic growth when credit is directed properly. The second half investigates the distortions introduced by fiscal overreach, centralized credit allocation, and asset speculation. It traces how misuse of collateral, artificial monetary fixes, and government overborrowing create a feedback loop that crowds out the private sector, freezes the housing market, and corrodes the long-term tax base. Using this layered metaphor, the exposition reveals the structural imbalances now threatening the integrity of modern economies, with the U.S. as its central case study.