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They lend bank credit/deposits which can be exchanged for dollars. I like the idea of the debt free money and taking the power to create money out of the banksters hands. I am not tryng to be a rabble rouser. I just want to be sure about what we are fixing and why before we move forward.
rodneyorondeaujr 3 months ago
I disagree with the premise that ALL money is created out of debt. It is my understanding that when the government spends money is created in the form of bank reserves. As a matter of accounting these are debts. The difference between spending and taxes is the deficit. The Treasury/fed issues debt/bonds in that amount to maintain the interest rate. Banks on the other hand do create the lions share of our money supply but they do not create dollars per se.
rodneyorondeaujr 3 months ago
You guys should read Modern Money Secrets by Monetary expert Byron Dale.
tomozope 1 year ago
@tomozope
You are exactly right.
Been meaning to.
And I will.
EconomicStability 1 year ago
@EconomicStability cool. It's the best book I've read so far about the monetary system, how it "works" and the effects it has on the people. I'm really looking forward to hearing what you have to say about it!
tomozope 1 year ago
@tomozope
Just ordered it.
When I saw him in Secrets of Oz, I knew that he knew.
EconomicStability 1 year ago
@EconomicStability Be careful once you get the book. One of my family members took it from me and won't give it back. I'm being serious. I know I'll get it back but they are insisting that they get to read it first.
tomozope 1 year ago
I just found your page. Great show
EN4CR81 2 years ago
"the fiat money system: present fractional reseved debt money sytem, it is doom to fail because it creates all money as debt and there is mechanism to create more debt into the economy, there is already too much debt out there."
SilverRose09 2 years ago
You got the debt money thing exactly right.
That's what is wrong.
And doomed to fail.
What doesn't seem right is that the debt-money system is equal to a fiat money system.
A fiat money system does not need to include any of those things that are wrong with the debt money system.
A fiat money system is exactly what we say it is.
That's why we're here.
To put an end to debt money.
joebhed 2 years ago