Where does money come from? (Money As Debt part 4)

killerxiong Says:

Nov 24, 2007 - very interesting..

gundamzeta209 Says:

Nov 27, 2007 - This is completely wrong.. The gold standard did have checks that kept the money supply from growing infinitely. periods of inflation were always followed by periods of deflation. So much so, that on net, there were NO, i repeat, NO long term increases in the money supply. This video is a complete misrepresentation of the the fractional reserve system and monetary theory as a whole.

bigphilly17 Says:

Dec 30, 2007 - The pledge of hours of work is a monetary system based on the Marxist Labor Theory of Value; Austrian Economists demonstrated in the 1920s that this system cannot work because it destroys the price system and it is incapable of calculating the true value of anything. This system would fail just as Communism failed, pick a different one.

bigphilly17 Says:

Dec 30, 2007 - At one point the government debt-free money system was actually implemented in the American Colonies. Contrary to the idealized picture created in this clip, inflation spiraled out of control and the paper money (Continental Dollar) were eventually worthless. Art. I Sec. 10 Cl. 1 of the US Constitution was written for a reason...

bigphilly17 Says:

Dec 30, 2007 - The arguments against commodity money in this clip are silly, they can easily be applied to the other systems presented. Tangible assets as wealth and money is the best possible system.

UglyFacet Says:

Feb 14, 2008 - I think you're both confused ... a lack of tangible assets in the system (beyond the borrower's promise to repay) is the criticism. Did you not watch from the beginning? Marx was merely a good journalist, advising workers to be fully aware of their position in the system at large. And yes the gold standard was rational, and again, it's the lack of a tangible unit of wealth (like gold) in the current system that's the criticism.

Yadgyu Says:

Feb 16, 2008 - This documentary was an eye-opener that leaves people even more hopeless than before they watched it. I would rather go around with my head down not knowing than to know and not be able to do a darn thing about it. Life is not that bad. Debt is a part of life. At least I can be in debt and live better than 95% of Earth's population here. If people think debt is that bad, I suggest they move to a third world country and see what life is really like.

apump1335 Says:

Mar 17, 2008 - Quick question for anyone who can help...In fractional reserve banking, aren't portions of deposits used as the reserve requirement, not the deposits themselves? For example, if the r.r.r. is 10%, and I deposit $100, the bank can lend $90, then $81, then $73, etc. until the total lent is $900 and the total money is $1,000, correct? As per the video, the bank can use the $100 as the r.r.r. and lend $830, $730, etc.? Is this a fundamental mistake in the program?

spacepirate777 Says:

Mar 18, 2008 - I HAVE A GREAT IDEA! Every time you receive a letter advertising a credit card or loan, use the included prepaid envelope to send them a letter advising the reader that he/she should watch "Money as Debt". Indicate Youtube, Google Video and Guba(dot)com. This will get the employees at the banks educated about who they are actually working for, and the bank is paying the postage! We can start bombarding them with letters in this manner.

heinj98 Says:

Mar 31, 2008 - Do you care to explain it then?

whymustwe712 Says:

Apr 6, 2008 - LMAO!!!! I feel the EXACT same way!!!

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