Money as Debt
Many people find the current level of debt to be at an unbelievable level. It is difficult to see how an economy can survive when the majority of money spent is actually owed to someone else. So much so, that if there was no debt, there would be no money.
If you’re not sure what I mean, check out the following animated financial documentary entitled “Money as Debt”.
Paul Grignon’s 47-minute presentation of “Money as Debt” tells in very simple and effective graphic terms what money is and how it is being created. It is an entertaining way to get the message out. It is a painless but hard-hitting educational tool and should be viewed by all groups concerned with the present unsustainable monetary system in Canada and the United States.
Written by Clint · October 26, 2007 · Filed Under Debt, Money 101
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I’ll admit I would have to watch that video a dozen times to get my head fully wrapped around the idea that bankers are controlling the world…but as soon as he starts suggesting that the government should control the money supply instead of greedy bankers, I started to smell something. I’ll take the greedy free market any day over uncle sam…but like I said, the whole concept made my head hurt.
I don’t really agree with the solution the author suggests, either, but I found the video to be have some valid points and interesting facts.