The Goldsmiths Tale

[CherryGanz]

Fable or not, it certainly offers a compelling explanation about the colonial age: Europeans' ability to project purchasing power into meaningless pieces of paper is what made them feel empowered enough to conquer & enslave the populations of other continents.

[benthejrporter]

Very interesting! I took out a personal loan last year. If only I'd watched this beforehand!

[mariguanetor]

I saw this in Spanish... xD



[JazzRockBluesFunk]

This is in fact how our would is run.

[PatrickRes9]

Wow, it blows my mind that some people are even allowed to vote, with such ignorance. To those claiming this cartoon is fictional: It is, but its not false. Its merely a fictional depiction of how fractional reserve banking DOES really work. It is accurate in that way. Just google fractional reserve banking.

Also, every time someone mentions "Illuminati", I stop reading. If youre going to make a point, stick to fact, so you dont destroy your own point, and your own credibility.

[ozmonster1989]

@PatrickRes9 Voting is a pointless participation in a stage show sham. And the illuminati did historically exist, granted there is little evidence of its existence today...

[LeseMajeste]

Americans pay over 300 BILLION a year to the private banking families that own the Fed, all for the PRIVILEGE of borrowing OUR own money.

The Fed is illegal, had been from the beginning, since the US Constitution gives the power to print money to Congress, not some shady characters.

The Fed is illegal because the only way to change the Constitution is to have a convention, then have a super-majority of both the Congress and the states voting in favor of the change, not by passing a law.

[Dickeyj2010]

this is an over simplification and false. o my go get a finance degree.. paper money started in France not some gold smith..

[Dickeyj2010]

this is an over simplification and false. o my go get a finance degree..

[delyparker777]

Central banks are EVIL and they literally create "money" out of thin air. The Federal Reserve, the International Monetary Fund and the World Bank are CRIMINALS and should ALL be hung from the highest tree! Watch "The Collapse of Argentina" on youtube and you'll understand how EVIL they are. International Banksters or the Illuminati control govts through the banking system. Watch The Money Masters and The Creature From Jekyll Island for proof beyond a shadow of a doubt. END THE FED!

[H1TMANactual]

@delyparker777 Stick to watching conspiracy videos then, gullible nutjob. Also money multiplier works in reverse as well.

[macroman52]

As long as everyone realises it is a fable up there with "How the elephant got it's tail" and "why women hate snakes and suffer in childbirth".

[Piernic]

I would liek to be a Goldsmith

[macroman52]

This misrepresent what Goldsmiths did. 1) They stored gold for a fee and issued non-transferable receipts for that specfic gold. 2) They accepted worn coins as a deposit, evaluated the true value by weight and issued a promise to pay a certain amount of money. They charged nothing or paid interest for this because they were borrowing from the depositoirs in order to relend it. Merchants might accept the transferable IOU of the goldsmith for a certain amount of money. Your "tale" is a fable.

[PureEvilJester]

@macroman52 if you watch a minute before this clip they say it's just a story to explain how banks work.

[justinheath905]

Best One Of These Vids I've Seen. Love The Animations, Stuff Like The 3d Boat And Stuff Were Un-Needed But A Nice Added Feel.

[dominicember]

good work sir.