Chris Martenson, PhD, MBA, is an economic researcher and futurist specializing in energy and resource depletion, who joined Adam Taggart to co-found, where they provide top-rate economic analysis and commentary on the day’s hottest financial topics.  Martenson also launched the seminal video seminar called, The Crash Course, which was published into book form, wherein he gives a dynamic explanation of the life cycle of fiat currency, something that’s pretty much on everybody’s minds these days, whether they realize it or not.

Martenson’s model explains how the financial system works and why it’s failing, which is very relevant to today’s global financial crisis, which is why ten years later experts are still using his work as a basis for their conclusions as they examine global financial system meltdown and malfeasance.

“What Martenson lays out is that any fiat currency with compound interest has a growth rate of a very slow, very gradual slope upward to the right until it reaches an inflection point where the growth rate, or the amount of money in circulation, grows vertically,” macroeconomics analyst Rob Kirby says, describing one of Martenson’s charts in a recent interview with Greg Hunter on

The chart Kirby describes displays something Martenson calls exponential growth.  The chart pattern looks like a hockey stick lying down on its shaft with the blade sticking straight up. 

“We are charting an amount of something over time,” Martenson explains in The Crash Course video.  “The only requirement for a graph to end up looking like this is that the thing being measured grows by some percentage over each increment of time.”

The slower the percentage rate of growth, the greater the length of time needed to chart in order to visually see this hockey stick shape.  But when that changes growth takes place quite quickly.

“Once an exponential function ‘turns the corner,’ even though the percentage rate of growth might remain constant and possibly quite low, the amounts do not.  They pile up faster and faster,” Martenson explains.

We are right now at that time in global fiat currency financial system history where the amount that is added is growing larger over each additional unit of time.  We are climbing the blade straight up at a very desperate pace.


Martenson’s graph also accounts for how great amounts of unaccounted for money might be needed to keep the crippled system going.  “This graph and Martenson’s explanation explains why $21 trillion, minimum, extra dollars were created out of thin air, and I would have it that they were fraudulently created, and these dollars have been siloed inside of the Exchange Stabilization Fund, a dark entity, an adjunct to the U.S. Treasury, which is subject to no oversight,” Kirby tells Hunter.

The reason why the $21 trillion had to be created is to satisfy the growth dictated by Martenson’s graph.

Kirby is referring to the $21 trillion that Catherine Austin Fitts and Mark Skidmore proved to be missing — to have literally vanished — from the U.S. Department of Defense (DOD) and Department of Housing and Urban Development (HUD).  Fitts has stated her belief that this missing amount is probably closer to $50 trillion.

An incredible amount of money is needed to keep feeding the system if it is to stay alive during the ascent up the blade of the hockey stick.  “The minimum of $21 extra trillion is held in reserve to basically feed that vertical growth as new money has to be continually added to the system or the system collapses,” Kirby says. 

Even if that ‘new money’ happens to be accrued illegally and nobody knows about it.


We are very high up the blade of Chris Martenson’s hockey stick graph.  “We might be off the page up higher,” Kirby says.  “The money has been created to perpetuate this vertical growth.  This is being evidenced today by the rejection of U.S. government debt by the likes of China and the likes of Russia, the Japanese also.” 

As the U.S. dollar is debased more by our system others have stopped playing the game.  These countries make up the traditional financiers of American largesse.  They fund American deficits “and they’ve been absent for the last two to three years,” Kirby says. 

So the question becomes, and the question has always been, and more and more people are asking the question:  With the traditional financiers of American deficits absent from the game, and actually getting rid of some of their existing debt, where are central bankers going to get the enormous amount of monies necessary to continue feeding the game?

It won’t be foreign countries, they’ve already told us as much.  China, Russia, and Japan are not buying the new debt, and they’re actually selling some of the debt they formerly held, so who’s buying it? 

“The only credible answer is that the debt is being monetized,” Kirby says.

And that’s why this $21 trillion minimum missing money is being “siloed” through the Exchange Stabilization Fund, a dark entity Kirby calls “an adjunct to the U.S. Treasury, which is subject to no oversight” and isn’t even officially acknowledged to exist.

That’s what’s being “mobilized and utilized to monetize the debt and memory hold the debt,” Kirby says.  “But this is not a game that can go on forever.” 

This is not a sustainable practice.  This is treasonous.  And it tells us nothing about who or where we’re getting our money from that is created “out of thin air” to continuously feed into the financial system to keep it from crashing.