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Money is Debt

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Money is Debt

Postby gtk » Fri Sep 26, 2008 12:18 pm

Did you know that money is created from Debt? This long (very long) cartoon explains how money is created from Debt. Watch as an initial deposit of $1,111.12 can be turned into $100,000 by our banking system..

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

95% of all money today was generated from loans.

To maintain a functional society, the rate of foreclosures on loans must be low, which in turn, more debt has to be generated to pay the original loan.
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Re: Money is Debt

Postby bwm » Fri Sep 26, 2008 2:58 pm

That my friend, was an awesome video. Lengthy, but informative and interesting.

We have a long row to hoe....
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