How MONEY & BANKING Really works - Part 1 (1 of 5)

[J2897Tutorials]

Looks like 4 bankers have seen this video.

[contractorqurrat]

interesting perspective!

[GaussTruth]

More misunderstanding of the monetary system and how it functions. If anyone really wants to understand money and how it actually works in our economy, then just about the only person on the planet ( that I have found so far ) that knows how money really works is William Hummel, who has a website and a post blog -> wfhummel.cnchost dot com/ Most of the people that post these videos on youtube do not have a clue.

[misterneckbreaker88]

you fucked over by interest, bankers credit cards loans, rely on those who struggle to pay it back. we can bankrupt these bankers by not having bank account n just doing cash in hand. everyone take out all the money from account n dont use it.

[daveyboom1984]

Maybe that explains the seemingly insurmountable hatred of the Muslim world be the West.

More people need to see this. Share this with your friends and family.

[veryslyfox]

He repeated the fallacy that if you have a gold-based economy, the money supply is controlled by the amount of gold in circulation. That's totally wrong. Gold's value would just change over time.

[globalfinanceschool]

You just nailed it! Kudos!

[merrittolsen]

he made an error right at the start...the government does not make money, the federal reserve does and they are a private bank with nothing to do with the government...

[dmed312]

Wow, I was viewer 11,111. I'm so proud.

[internetguide4muslim]

ISLAM IS THE SOLUTION TO THIS PROBLEM ...

JUST BAN INTEREST

[MetallicThor]

@internetguide4muslim true, usery is the biggest problem in this system because it's what creates more debt and allows these banks to make even more profit.

[animaregius]

@internetguide4muslim I think you need to rephrase your statement. Remove Islam as it has nothing to do with this. Perhaps to say "Banning Interest is the solution to the problem" sound more true.

[KraftyKris1]

@animaregius "Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees (known as Riba or usury) for loans of money." I only recently found this out myself, thinking of switching to an Islamic bank.

[MsEmm22]

is this tale true ?? did it actually happen?;p

[sjrfy3]

WHY AREN'T MORE PEOPLE WATCHING THESE!!!!! I'm an Engineer and I always wondered why I didnt quite understand Economics..... now I know! There is a lack of logic!!!!!

[Simfinet]

@TheTentwo1 I like the fact that your sense of humor is still intact :) Where has your career path led you since?

[TheTentwo1]

I once considered a career in finance.

That is until during class I asked my professor to specifically explain how money is created in a way I could understand. He got very uncomfortable, (even started sweating lol) and said none of what was said here between 2:54 - 3:41

Now, I must repay my student loan...

[palmspringssteve]

The only answer is to SMASH the power of capitalists and their hold over the exploited of the world! I, for one, am now delighted that the 'Teabaggers' have pushed for 2nd Amendement rights: it make take force-of-arms to destroy the current system and effect a socialist revolution.

[3DEC3]

This is absolutely not factual and total fantasy. Presenting this matter of fact is despicable.

[Simfinet]

@ehswan

That would be true, if common sense was an acceptable form of an argument... Unfortunately common sense is buried under a mountain of deceptive terminology and non-sensical regulations; and, the regulations will invariably over-rule any common sense argument in a "so called" democratic system (or should I say "communism" in sheeps clothing?).

Check out my playlist "illusion of Money - part 3" to get a more in-depth idea of the history of money.

[ehswan]

If you have borrowed money and were not clearly informed of the terms you were cheated and have no obligation to repay the fraudulent loan.