"The study of money, above all other fields in economics, is one in which complexity is used to disguise or to evade truth, not to reveal it." - John Kenneth Galbraith-economist, author
Bailouts, stimulus packages, debt piled upon debt…Where will it all end?
How did we get into a situation where there has never been more material wealth & productivity and yet everyone is in debt to bankers?
And now, all of a sudden, the bankers have no money and we the taxpayers, have to rescue them by going even further into debt!
Money as debt II explores the baffling, fraudulent and destructive arithmetic of the money system that holds us hostage to a forever growing DEBT… and how we might evolve beyond it into a new era. [source]
This is a great video. It removes all the complicities and pares it down to the basic principals. Even someone from the US Congress would probably understand it...and is probably the best educational material about the world's banking system that should be taught in all our schools. I received an email from a blog reader who was thanking me for providing this information, and that his 10 year old son was just fascinated by Money as Debt and wanted to watch it again with him because there were a few things he didn't quite understand, but wanted to.
Rarely if ever in history has a time been more ripe for fresh thinking about a fundamental issues.
Paul's movies definitely open our eyes to the fraud and, at least, help point the way to the possibility of trying alternatives. I admire Paul for leading the change.
Thank you, Paul, for your leadership and clarity in accurately framing the problem and presenting the obvious policy answer of government-created money for the direct payment of public goods and services. As I mentioned above, these two videos should be viewed by every economics student and every adult who say they want to be competent citizens.
"Only when the last tree has died and the last river has been poisoned and the last fish been caught will we realize we cannot eat money." - Cree Indian Proverb
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