I got my basic degree and maters in science. Later I advanced my career in export promotion during which I studied project financing, accounting and project appraisals: all activities fall into the category of micro-economic activities that needed to excel in the field of business. But I gradually developed an interest to study and explore macroeconomic issues. The point of focus was national and global debt. Intuitively I refused to follow the empirical analysis of the issue. I questioned why consumers of so called rich countries carry so much debt. Do we need to put the monetary mechanism in a new paradigm to address this issue?

I was curious to investigate about it. I did read from capitalism to socialism and from socialism to capitalism looking for an answer. I did investigate the system of banking and central banking from a theoretical point of view in capitalism and socialism. I was amazed with the money creation process in capitalism under a unique system call “Fractional Reserve Banking” where similar concept was not in practice (at least I could not find) in Soviet-Poland style socialism.

Fractional Reserve Banking is a system where commercial banks create more credit than incoming deposits. How? Fascinating, isn’t it? Why the economic system needs to create more credit than incoming deposits? This definite question led me to conceptualize “The Theory of Economic System Gap and Credit Cycle” which explained in the book of “Indispensable Bad Debt”. Finally through it I found the answers I was looking for in regard to debt issue.

My multidisciplinary background, I believe, gave me an advantage to conclude my investigation successfully still with the support of many.

May be, the satisfaction of curiosity is the true education.