Crash Course: Chapter 6 - What is Money? by Chris Martenson

[TheAceofdon]

hey i have website were you get paid free join so took look and join!!!! twitter/ace50money

[TacticusPrime]

Dollars are stored digitally.  Digital information, with the proper capture of energy, does not NEED to degrade. It is just as effectively eternal as gold or silver. What it's not is naturally limited in supply. It can be multiplied easily, while gold (for now) can not be.

[CitizenNumber]

Try to apply the same logic in reverse with a 1 penny with deflation. The value goes to ZERO. No more money! Economy Zero. Back to the barter system.

China has been printing their total money supply once every 40 months since before 2000. Have they hyper inflated? NO! For reasons I stated.

WAIT!! Did I say when money is printed it doesn't come out of thin air but Rather from the value of all other Money/Credit? YES! Value loss is offset by the same increase in the SUPPLY of money/Credit.

[CitizenNumber]

• 1. Money must be grown (printed) to accommodate the expansion of population and productive output in order to unleash the value of goods/services. Otherwise you get deflation The more you produce the less the value the less your income. Unlike inflation economy stops at ZERO.

2. Money is not printed out of thin air. As the Value per $ decreases via Printers THE "SUPPLY" of $ increases in your pocket. Only thing that changes is the Nominal number on the bill. 1 penny or 1 billion = the same.

[charronfamilyconnect]

Has anyone checked out Tom Greco and the money system he proposes? It looks very revolutionary and bypasses this BS system of credit and indebtiness as well as it bypasses the need to haul around Prescious metals that are at risk of theft etc...

[lopesmais]

is USA the new Yugoslavia of the world? USA sure has being printing money like if there was no tomorrow, what will happen when all of that money printed and spent by purchasing imported products returns to the USA? or what if is simple not accepted anymore due to constant devaluation?

go ahead, keep the quantitative easing rounds coming

I wouldn't wanted to be a USA lender right now.

[moveaxebx]

Money is product.

[TheAwakenedHeretic]

Money: the ultimate middleman

[hankmcclure323]

search for jobs online careerstartshop .info tons of new jobs

[efrenmcmahon246]

get hired today ...careerfair.info...

[plaugewolf]

we dont need this shit, we just need to share. with everyone

[plaugewolf]

when people gained the ability to amass wealth and simply pay money to not have to work, did you think it wouldnt instill racial and class distrust?

[grimslider]

money the root of all happiness and misery 

[PositiveMoneyUK]

A biggest public campaign has started to end fractional reserve banking, look at the POSITIVE MONEY website and support the campaign ...and spread the word.

[linagee]

Haven't you heard of bitcoins?

[LitongX1]

This is what happening now in the US with the dollar and it is sad, that even if I live in EU I know they teach you the same in school or your parents... Save money...

[samiwistler]

Deep :), educating

[blinkjem90210]

nice video. Very educational!!

[faisalx12]

lol i dident know hat mony was

[vladabuba]

I lived in Yugoslavia during early 90's and this is true - we had notes with 11 zeros, the infamous 500 000 000 000 dinars note. It was one of most difficult periods of my life, all income was evaporated in matter of hours, and we lived almost on bread and water. Government did not stop printing money they just printed, printed. Government has also organized black market where you could buy anything but only for DEM (deutsche mark). I see the same thing happening now in US?

[Killer390]

@vladabuba The US dollar has indeed lost some of its value, but the US has not approached/no where near what happened in your country. I live in the US and the currency fluctuates but we're talking about cents on the dollar, which is manageable.

[TheRealDerfMan]

I'm liking this so far.... I've seen "Money Masters" and "Money As Debt", but I really like what this guy is saying, and how he's saying it.

[cosmicordering1]

Quantitive easing, creating money by just printing it, will see the downfall of the currency in any country using this method.

[instantproducts]

Fiat currency is designed to decrease in value over time. Fiat currency is a private product.

[MrRobertGriffith]

It truly is amazing when you think about the fact that NONE of this was taught to me in the Chicago Public school sysyem. You would think knowledge like this (which is essential to fuction properly within this society) would not only be taught to school children across the nation, but actually DRILLED into them over and over again. I was fortunate enough to attend a good University after my time with the Marines. However, 23 years old is way late in the game to learn what should be basic info.

[wastedwasted3]

@MrRobertGriffith Absolutely. The school curriculum is controlled in just the same way that the media and banking system is. It's all a big game of fraud and deception of which we have been unknowing participants since the time we left the womb.

[phceidem]

@MrRobertGriffith We were actually taught creation of money in school, but none of us even understood it. I guess thats how they conceal information, get students focus more on passing exams than understanding whats really happening

[cedricalien]

l like the shell.

[suutari13]

Money, to me, was simply a token of

exchange for work done, and its value depended absolutely on

the value of the work accomplished. Where money did not

represent services rendered, I insisted, it had no value at all.

Adolf Hitler

[sandcut1]

And at one time, i think 1954 there was no "in god we trust" on the dollar. A lot of good that did.

[sandcut1]

@sandcut1 My mistake, 1957.

[airharm]

Only 100k views? We're doomed.

[SidneyBou]

How much labor is necessary to print a US dollar bill. Well then is it money.

[enemdy]

 paper money = usury = currency destruction

[theavatarstudy]

So MONEY was developed by US as the "Technical/Practical Substitute of GOD".

Interesting

I can see why is considered as evil HAHA

[laplace977]

partially agree: money is a claim on human labor or land property.

[ehswan]

When less than 1% of our population has more than 9 out 0f 10 of the rest of us in our guts we know there is something wrong.

[MrCofactory]

Great Videos!!  This should be its own cable station

[ehswan]

@MrCofactory Or taught in public school. We have been so willfully kept in ignorance and only now emerging thanks to the net.

[MrTheLOLOL]

Plus interest rates should always be moderate, because if it is too low it will damage savers and the exchange rate, too high it will damage borrowers and the wider economy.

[MrTheLOLOL]

what about deflation? If the US owed 1 dollar in 2010 and deflation runned at 1% per day, they have to pay the PPP (purchesing power parity) equivalant of 365 dollars. Inflation damages US creditors and deflation damages the US. If prices are more or less the same, across most industries (not rapidly deflating in half of the US, but rapidly deflating in the other half) then the economy will be stable and there will be no damage to either the US or its creditors.

[Sykarus]

This explains why you put on your "work hat" and go grovel at another man's or woman's mercy and desires. Don't think using your "intellect" is not prostituting yourself, this is your time that you choose to spend away from your friends and family, etc... So, you can attain food, shelter, and hopefully maybe a 2 week vacation out of the year. Think about it, think about why you do it. Survival. Yes, and that is that for about 70 years. Then you die... I wish we lived in Star Trek next generation

[sjuurd]

@10speech110, we have solved scarcity. It is just impossible to achieve it in this economical structure. Abundance has no value, brings no profit, and there is no incentive for abundance in our economical structure.

[10speech110]

We have solved scarcity? Someone must have found free labor, free energy, free resources, and free time. Why didn't I get the memo?

[bxccapricorn]

wtf man the question is should depend on it or find a way to not be so depended on it ? not the even the smartest economist can answer this q its a challenege!

[sjuurd]

If we can solve scarcity (which is the only problem within economics), then you don't need money or any form of barter at all.

And we have solved scarcity, we just need to change the economical structure. Which is probably not going to be easy, but it will occur in this change you are talking about.

[arzoyan]

@sjuurd Hi , You are so to the point, WE HAVE SOLVED SCARCITY ,THEN WE DONT NEED MONEY. see capitalism is the system of artifical scarcity to perpetute poverty and exploitation in the interest of the ruling class. When we share the Earth in cooperation then the political economy of profit shall give way to production for our common needs and well being and as such money,class,state shall be prehistory, let me know your opinion please.

[KurzLuppii]

@arzoyan

The world is not infinite.

There you have it, Resource economies will not work.

[arzoyan]

@KurzLuppii Our creative energies and imagination is infinte, Our generation is already has access to information technology that would have been a little while ago unimaginable, please you are undervaluing your species as the Rulers/Owners are doing systematically to control us for servitude and compliance. . Capitalism is a political economy of exploitation of many by a few . Unlearn your education

[KurzLuppii]

@arzoyan

Though without infinite energy we will never have infinite resources.

Capitalism as of today is a sham what it once was.

Capitalism is not a exploitation... You are freely of your own will giving item X for item Y because you believe that item Y is worth more than your item X. The other person sees your X as being more valuable.

If it was a system of exploitation there would be no trade.

We would all farm, create our own energy, All would be inefficient.

[arzoyan]

@KurzLuppii You may be the beneficiary of a place that killed off its native population,enslaved Africans for plantations,invaded neighbours for more Land grab,destroyed any working class organisation that tried to protect its members welfare at work, create empire across the world using all tyrannical,inhumane means at their disposal, You are so sleep or stuffed that have no memory or concept of what life is really about, you are just like your Owner.alienated dehumanised distorted.

[KurzLuppii]

@arzoyan

You speak as though you know how I think.

I am not asleep to the corruption the encroaching on our freedoms.

I am not a supporter of War unless for defense.

I am a firm believer is capitalism since its based on Private property rights of you and me. I cannot steal from you, nor can you steal from me. To completely get rid of the government is to let us be bare to other governments who wish to conquer us.

The enslavement begins with our Money and ends in our government.

[KurzLuppii]

@sjuurd

>.> wtf the world isn't infinite.

[sjuurd]

I don't agree on your opinion that job specialization does not exist without a monetary system. There is a usage dogma on the incentives of money.

When extrinsic rewards are given to someone for performing an interesting task,it causes intrinsic interest in the task itself to decline.

It is not money that drives pure motivation.

[zonsb]

The US dollar is backed by the full faith and credit of the UNITED STATES corporation. Each American is a creditor and can use their credit (which backs the FRNs in the first lace) to pay taxes. Your signature is from where the banks create money. But they're never going to admit that to you. You can create your own "money" via your signature. Banks and governments have been pirating your signature for decades.

The solution resolves this and all other problems.

[zonsb]

Using all technology readily available at the time, how much can one man's labor today produce compared to one man's labor 200 years ago? How many pair of shoes, loves of bread, dog houses could he then (1810) create in a day compared to how many he can today?

[silversobe]

Money = Debt o.o

[PatricksTime]

@silversobe currency=debt! money is a store of value...

[Chuichupachichi]

Diamonds have much value but if they were used as currency the Oppenheimers aka DeBeers would release their currently retained mountain of diamonds into circulation, thereby causing the inflammatory inflation of the diamond

We'd be back to the current situation which threatens to deteriorate into pushing wheelbarrows filled with diamonds to purchase a loaf of bread.

[TheWestAspen]

@ Chuichupachichi

Your theory assumes the retained mountains of diamonds were sourced without cost. The concept is simple, diamonds, gold, silver, wheat, corn, oil, all require effort to produce, and effort has value. Paper money requires no effort, and hence no value.

If you would like to discuss the Oppenheimers labor practices to produce the diamonds, that is another story in an of itself, but basing a unit of value on something that actually requires effort to produce is not so bad.

[Chuichupachichi]

Money is..... the root of all things evil men will do to obtain it

That is why the Loserferian bastard bankers set up a system where in which even if a bank doesn't posses the money to lend, still, they can lend it. Then, the moment that the borrower signs the loan agreement... whoalla, the bank now magically possesses that money. Money from thin air!

However, all of us, non Canaanite, dog faced Loserferians, who are the borrowers, must pay back their thin air with real substance. Our labor

[Chuichupachichi]

Our labor for their air money, combined with the graduated income tax from that other privately owned, unconstitutionally forced upon us, institution... the Internally ReamingYou Disservice

Those are the ingredients for the recipe that makes nationwide SLAVERY. Graduated income tax means you must not become financially independent. But continually working for the man... excuse me, the Loserferian little BITCH. For perhaps if they get their giants back, they'll have a sack enough to come out

[Chuichupachichi]

I too am a private citizen. I've decided that as of now, I too have an institution which the private citizen Loserferians must pay everything above that required to merely make modest ends meet. They can begin with the gold stolen from Americans that they have extracted from the Fort. The military guards are guarding thin air. Security service for thin air paid for with American's unconstitutional tax dollars

Loserferian excesses payable to The Institution of Chuichupachichi El Capitan American

[Piscivorus]

An important distinction is missing here. Dollars that are backed by gold can be traded for any product or service which is derived from labor and capital but, such dollars are not claims on labor or capital, they are only claims on gold. Likewise, dollars that are backed by debt can be spent on anything but they aren't claims on anything other than debt. In other words, what money is traded for has nothing to do with what it is backed by.

[oweninc]

and consumption has to come from material abundance or circulation. Where does material come from? Human capital and labor. His argument makes sense, but he doesn't put it too well. It's better to think about money as numerical value we place on all material and labor wealth which that currency can possibly encompass. This was the case up until the 1930's when money became a measure of value of not just present material, but also past, present and future material - hence savings and investment.

[MCdogma77]

I don't really understand how you can't see that money IS a claim on past, present or future labor...something must always come from some use of energy in the form of labor. Even the vile "interest" charged for simply lending money is a claim on the labor to produce, monitor and document the acquisition of more money through interest. So I have to totally agree that Money=Labor and if you can't see labor having a value them you must have never worked for anything that required repetitive sweat

[redmolotail]

That's why I've never seen a bankster break a sweat lending money.

Fractional Reserve Banking = free slave labor

They are not interested in the loan being paid back as much as they are you having a perpetual debt to pay off. Your sweat goes into their coffers because you "borrowed" money that didn't exist until you signed the dotted line.

A Faustian bargain.

[Aliothemage]

"Money=Labor and if you can't see labor having a value them you must have never worked for anything that required repetitive sweat"

All X = Y

This doesn't mean that all Y =X.

You can earn money with labor. But plenty of labor, such as breaking rocks, ill not earn you money. What actually earns you money is the value your labor produces. If you labor produces a state of the art computer it is worth more than if your labor produces a broken rock, regardless of the difficulty in either one.

[GuyandLori]

Now that makes sense.

[PanzerDivisionBOM]

I do take some issue with your definition of money as "a claim on human labour", because it seems to equate value to labour. For explanation of why we don't want to make this mistake again, please see twentieth-century history. : P

Other than that, I agree wholeheartedly with your premises. Yes, good money is absolutely essential to rational resource management, as it pertains to human interaction. Yes, it is easy for monopolistic money to fail. Yes, if one money fails, there will be another.

[WestCoastSwinger]

PanzerDivisionBOM,

Your comments do not make sense to me. However, the way Chris puts it, "a claim on human labor," is a great way to put it. The way I've always said it is that, "money is used as a tool by the rich to control the working class." We don't realize it, but we are being rewarded with something useless, that we will inevitably spend on some good or service and have to work again to make more and doing so will make money flow to the top of the pyramid (make the rich richer).

[PanzerDivisionBOM]

If you wish to challenge your own tendency towards polylogism, then I suggest you peruse the writings of one Ludwig von Mises. He offers brilliant insight into why your suggested means do not lead towards your stated ends.

If not, then there really is nothing I can do for you. Sorry.

[iecutiel]

yeah money thing was fake! solution: moneyless sheep reduced comunnist population with rfid chip and cctv

[tinaxtony]

I feel like Ive learned a LOT by watching this

[jfh1986]

"Claim of human labor" sounds like labor theory of value. That's so 19th century.

[inkey2]

QUESTION: I keep hearing that "leading economic experts" claim the "recession" will be over w/in a year. I certainly am no expert but ..how can this be possible? If the US GOVT is printing trillions of paper dollars backed by nothing.....raising the money supply sky high....how can anything ever get better?

[delatroy]

Its not. Fundamentals in the english speaking economies are getting worse. We are experiencing some short term pleasure from the printing of money, but the pain will kick in from the second half of this year onwards. Sooner or later the free market will correct the marxist tendencies of western nations.

[buzzz121]

Hippies and yippies tryed that in the 1960's but that did not work and a bumper sticker was born and it read " Gas, Ass or Grass nobody rides for free"

[PanzerDivisionBOM]

Try asking "Why do people who make these claims flock into politics?". My general theory is that political election is an auction:

The candidate that will make the most profit from his office will win, provided he has a history of sufficiently predictable corruption for his contacts to allow him a loan against that profit prior to the election.

That's why "big state" candidates always win. They just have that much more pork barrel money to use for bribes and preferential legislation.

[jhigh107]

what if we got rid of money altogether and replaced it with love

[inkey2]

to jhigh107: No, i think your suggestion of replacing money with "love" would not work well. (1) First of all you would need a "love wallet" to keep your love in, (2) how would you make "change" for love?....you would pay for a box of cookies with too much love and the cashier would have to figure out how much love to give you back in change. (3) Also...you would have to determine how much love each item is worth.....does buying a carrot require more or less love than a pound of ground beef?

[iteaire]

this is the best comment ever!! thanks man you my day .............hahahahah

[delatroy]

money = love

[inkey2]

boil the peeled potatos for 20 minutes, slice them up and fry in a hot oiled pan

[makatigerface]

Money truely I can do without

[SATANSbankers]

"BANKING was conceived in iniquity and was born in SIN. The BANKERS OWN the EARTH. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it all back again. However, take it away from them, and all the great fortunes like mine disappear, and they ought to disappear, for this would be a happier and better world to live in.

-- Sir Josiah Stamp

[SATANSbankers]

But, if you wish to remain the SLAVES of BANKERS and pay the cost of your own slavery, let them continue to create deposits"

-- Sir Josiah Stamp

[Inzari12]

"Free people, even of they fail, learn and correct themselves only if the govt doesn't get in the way. Govt cannot do anything constructive because they're incompetent"

People do NOT learn or self-correct, except under very rare circumstances. And governments are run by -- guess what? -- PEOPLE.

The idea that "free people" are the answer to all society's problems is absurd. Stop believing that being "free" means having no gov't. Free people steal, get pregnant, get fired, and do drugs.

[viewer1112]

totally agree, and to add

would you agree that a good human is brought about by the chipping away of freedom by setting up moral boundaries, resistance of temptation ect

fundamentally without the learning of boundaries arnt we just all self serving animals?

[hermanoarnoldo]

Excellent course.... I'm jotting down notes and everything

[matushka78]

it will never be, govt. never wants people to have knowledge (way to store truth). Knowledgeable people are harder to manipulate and subjugate. All the govt. wants you to do is drink, borrow, speculate, shoot drugs, have teen pregnancies, have no job and be completely dependent on the welfare handed out by the govt. and in the process cripple the productivity of a generation.

[Inzari12]

Such ridiculous juvenile rants are better saved for Glenn Beck or O'Reilly's shows, or maybe some right-wing moronic AM radio. This "blame the big gov't" for all of society's ills is just lazy, stupid, knee-jerk conservative blather.

You gotta blame somebody, don't you? Too hard to take a look at yourself and discipline your own mind?

[matushka78]

No, I don't have to blame anybody because I'm doing fine without a dime from the govt...EVER. It's not about me. I'm not a republican and I don't watch TV period. Free people, even of they fail, learn and correct themselves only if the govt doesn't get in the way. Govt cannot do anything constructive because they're incompetent, solely motivated towards getting elected and spends without any accountability - a recipe for a failed enterprise.

[FranceParisian]

I think the comment on -"a recipe for a failed enterprise" is spot on!

The rest is debatable, however, I respect your comment on this matter

[FranceParisian]

The government won't be blame if only it is truthful and honest. However, history tells us that not even one percent of people who works in government are incorruptible.

The whole presentation in fact is not blaming the government but illustrating the dishonesty of the government.

Peace

[wilsonpwt]

I wish this was being taught in public schools.

[Cougar2226]

Amen, man.

[piricarmen]

@wilsonpwt I agree.

[wcfcarolina13]

@wilsonpwt I know right? It makes me a bit sick that it's not.