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Money as Debt - video

M

morkinva

Diamond Member
This video, mostly in cartoon form, explains money and how it's created. It's much better than the 4 hour Money Masters, as you can get informed and be entertained without falling asleep in the middle of it.

IMHO the fractional reserve systems of the world are the cause of most if not all of the problems you discuss in this forum; you are only talking about the symptoms of the disease, and not the disease itself.

A private bank creates money out of nothing, and proceeds to lend it to you at interest. Is this not the biggest scam ever?

http://video.google.com/videoplay?docid=-9050474362583451279

What did you think of this video?
 
Not watching the video as I already knew that. But didnt some guy just get win a nobel prize for his idea of giving out small loans to the super poor in india? With banks loaning out this money - the economy would be stagnant. No houses would be built. No cars would be bought. Nobody would go to college.

Biggest scam? It's not a scam at all - its the foundation of modern money markets. Maybe its not perfect, but its probably the best idea we got.
 
How about using morality and moral reputation as wealth? We could define a list of characteristics of histories greatest humanitarians and fund people who have them.

Everybody knows who the real people are. They just don't want to be like them.
 
Originally posted by: morkinva
This video, mostly in cartoon form, explains money and how it's created. It's much better than the 4 hour Money Masters, as you can get informed and be entertained without falling asleep in the middle of it.

IMHO the fractional reserve systems of the world are the cause of most if not all of the problems you discuss in this forum; you are only talking about the symptoms of the disease, and not the disease itself.

A private bank creates money out of nothing, and proceeds to lend it to you at interest. Is this not the biggest scam ever?

http://video.google.com/videoplay?docid=-9050474362583451279

What did you think of this video?
Click to expand...

How's it a scam? This is how our economy works.
 
Originally posted by: bobdelt
Not watching the video as I already knew that. But didnt some guy just get win a nobel prize for his idea of giving out small loans to the super poor in india? With banks loaning out this money - the economy would be stagnant. No houses would be built. No cars would be bought. Nobody would go to college.

Biggest scam? It's not a scam at all - its the foundation of modern money markets. Maybe its not perfect, but its probably the best idea we got.
Click to expand...
Banks could still exist even without fractional reserve banking and fiduciary money.

 
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