David McWilliams

Well, it's fascinating you say that, Brendan, because a lot of Irish listeners will know that in the past in Ireland,

There was a reason why in most villages, the grocer, the publican and the undertaker were one and the same person.

So this was part of the class, the commercial class that existed in Ireland after the famine, before the famine, all the way up until the 1950s and 60s.

What those people were doing, in effect,

was they were the bank of the village.

They provided the credit for the punters in the grocer.

They provided the credit for the punters in the bar.

And they financed the funeral.

Why did they finance the funerals?

Because at the end, the funeral was a day of atonement.

The individual had assets, and then at least they knew where the money was.

And that's why it was all settled.

Now, I've always found this fascinating because that makes sense to us.

It makes complete sense, right?

But, you know, you think, why was the grocer and the undertaker and the barman the same person?

Because what bonded them all together was the credit and debits of the village.

And that's exactly what you're saying.

So let's establish one.

Money starts with chaos, and central banks chase the chaos, trying to police it as events overwhelm them, underwhelm them, and they react to it.

That's the first big claim of the book, which I love.