Money as Debt - video

morkinva

Diamond Member
Nov 16, 1999
3,656
0
71
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?
 

bobdelt

Senior member
May 26, 2006
918
0
0
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.
 

Moonbeam

Elite Member
Nov 24, 1999
73,286
6,350
126
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.
 

ntdz

Diamond Member
Aug 5, 2004
6,989
0
0
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?

How's it a scam? This is how our economy works.
 

zephyrprime

Diamond Member
Feb 18, 2001
7,512
2
81
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.
Banks could still exist even without fractional reserve banking and fiduciary money.