Sunday, June 14, 2009

Money as Debt

This 50 minute video describes simply, but also thoroughly, how banking works today and how banking came to be that way. It covers fractional reserve banking, debt-based money, gold, etc.

However, I strongly dislike the cheesy clip art style animations and the obviously over-the-top characterizations of bankers and government (and everyone else frankly). Also, he uses some spurious or questionable quotes (like the Woodrow Wilson one). Yet, a great deal of powerful information lies beneath that veneer of heavy-handed bias. Use your head and don't throw the baby out with the bath water.
I still heartily recommend watching it.

Agenda: bankers are evil, elimination of debt-based money (debt to private banks), banking as non-profit government outfit that makes interest-free loans, government created and managed value-based money (money printed by gov't for public works that promote economic growth: roads, bridges, harbors)

(There is about 15 secs of black video before the it actually begins. Just wait it out or skip it.)



I know there is a revised edition of this video on DVD which I believe addresses some the issues I have with this video. I also know there is a sequel; I am in the process of finding both.

No comments:

Post a Comment