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Originally Posted by pai mei
Hello all. When I was little I always wondered who makes the money, I heard that the state makes them, and because I heard that the state has a debt to pay I said "they are stupid, they can print all the money they want and pay the debt". I did not know much about money back then.
I found this documentary :
http://video.google.com/videoplay?do...686947&q=money
http://video.google.com/videoplay?do...500927&q=money
It has two parts, it is very well made, it explains the origins of money and banking from 2000 years ago until the present day. It is against the World Bank and it's system of loans that takes the money out of developing countries - yes, they have to pay more for the aid then the aid itself
I also found out that the Federal Reserve is a private institution, and that banks can give more money than they have in stock - creating money and inflation, trough the "fractional reserve system", they are the only bussines wich can do that legally.
Here is what Woodrow Wilson said in 1913:
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence |
In the first minute of the first video the documentry creates several false premises upon which they argue that the banking system controls our economy.
For example - "goverment tells us inflation is low while the buying power of our pay checks is declining at an alarming rate". The buying power of American consumers is at the highest point in history. We purchase and consume more goods and services than at any point in history. Americans have more leisure time than ever, better medical than ever, better food than ever, better leisure activity choices than ever, better access to education than ever, safer products than ever, etc, etc, etc. It is not all financed with debt. In fact if you measure our national net worth (Assets - debt = networth) it is higher than ever. More people are retired than ever. People start working careers later than ever. Our standard of living is the envy of the world, and better than ever.
I will listen to the next minute of the video tomorrow.