Money as Debt

[Sadik B]

Not many people are aware that today almost 95% of all money in circulation is created as debt to banks. I am sure many of you would have seen the Money as Debt series (there are 3 videos). This is the Second video of the series and the best of the three. It describes in very simple to understand language the current monetary catastrophe we all are under where the only people who benefit by definition are only Bankers...

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Requesting you to please be civil in discussions so that the thread doesn't get closed...

 

[Jake Bunce]

Good video.

The system definitely has problems, but I prefer to blame the users of the system. The video claims users are unaware of the realities of the system in which they participate, but I would argue that they are very much aware. The users know how to exploit the system after all. The pursuit of and ability to acquire personal gain in the current system admits awareness of that system. The lender knows how to gain by lending. The borrower knows how to gain by borrowing. The users are knowing participants, not unknowing participants like the video suggests. Said another way, I don't think there are any victims here. You can't be a victim when you willingly and knowingly play the game. For example, the investor who buys a house just before a market crash may complain about losing money, but they aren't a victim. They chose to play the game and lost.

I personally try not to play the game.

 

[Digital Doctor]

Remember ... Obama said he's raise the taxes of all millionaires to 30% minimum.
He better deliver !

 

[jonsidneyb]

While I will not argue what is said here it is very incomplete. It really can't be helped as this would be a massively long video. This is all basicly covered in F305 when I was in school. If you want to reform it how would you do it without causing another secondary effect?

 

[TheBigK]

Has anyone seen all Zeitgeist Videos?

Here's one:

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[Adam Howard]

I haven't used a bank or credit union in years. Further more I and I alone determine who I own, no one else ever gets paid. I keep my own internal banking to myself and it's all cash. My current debt by my own standards is zero.

 

[Sadik B]

I haven't used a bank or credit union in years. Further more I and I alone determine who I own, no one else ever gets paid. I keep my own internal banking to myself and it's all cash. My current debt by my own standards is zero.

Still you make a loss because the purchasing power of your money keeps reducing due to the system's need to increase circulation (and hence debt) causing inflation. So effectively your money keeps on reducing as it lies with you in cash.

 

[Adam Howard]

Still you make a loss because the purchasing power of your money keeps reducing due to the system's need to increase circulation (and hence debt) causing inflation. So effectively your money keeps on reducing as it lies with you in cash.

You're assuming I don't convert the bulk of my funds into physical gold, silver, or offshore currency which is backed by gold, silver, or other resources independent of the international banking system.