Money As Debt 2: what money is & why we are bankers' slaves

[Serrokot]

Money has no standard of cost. Shares have no cost standard in money.

How it is possible to measure company cost if there is no standard of cost of labor?

It is necessary to measure money in joules or calories.

[ThatGuysSockAccount]

The amount of money that exists is regulated by the central bank. It is the Central Banks duty to keep the prices stable.The central banks does this by adjusting interest. Therefore more money isn't just created, there is a limit. The reason we don't use the gold standard anymore is because it created deflation and deflation is also bad. There is also a limit on how much debt money you can use as deposit.

[thamastachief]

0:10

[thamastachief]

My world is officialy turned upside down! D:

[CrackerJayherber]

This video is BS! We are not the Banks slaves. The Banks are our friends and can be trusted at all times. Just look back into history.

[The34gl3]

@CrackerJayherber LOOOOOOOOOOL

[NWAsMostWanted]

Please everyone, spread the news of how much our dollar is really worth and how the banking system works. Go on other youtube videos and spread the news by getting people to watch these videos. We all must be informed of this fraud!!!

[claudelebel55]

@NWAsMostWanted and then what will you do ? You might also find it interesting to listen to 'Alan Watts - Money'  and see what he says but maybe these are different issues. All I know is that panic will not help.

[pissysteve]

watch?v=vitSBqhWjfc

[Piscivorus]

Only we can help ourselves out of the credit crisis. Everyone must immediately stop using credit! No more credit cards, no more auto loans, no more mortgages, no more capital financing, no more investor leveraging etc. Credit is pure fraud born of pure greed and will destroy us if we keep using it to cheat the economy. We have to quit on our own because it's obvious that our elected leaders want to keep us hooked for generations to come.

[inarell]

watch money as debt, the first one.

our paper money IS credit- it is created from the us government selling a Tbill, basically taking out a loan from the central bank. Money as Debt points out that without a national debt we wouldn't really have much of a money supply at all, with our current monetary system.

[Piscivorus]

The Money As Debt vid also points out that the constant use of credit creates constant inflation and increases debt faster than the interest charges alone. That's the real reason why the global financial system collapsed last year. The US gov is borrowing more now than all other nations have ever borrowed combined to try to stop the meltdown but, there's no way we can ever pay off all this new debt plus interest. As soon as the rest of the world figures this out, the dollar will be worthless.

[twobaud]

Probably the best 47 minute educational tool on money that exists, and I've been studying the issue for many years. The 3.5 video "The Money Masters" by Bill Still goes into more depth, but is not as simple to understand. The best website I've found is Ellen H Brown's "Web of Debt" or that of The American Monetary Institute. Google them. This is the most serious and urgent issue of our times. Learn about it and avoid simplistic solutions like returning to a gold standard that won't work.

[ErrolDreamer]

@twobaud Thank You for your information and advice

[timesplitters333]

well people will never wake up, we have to many dummies around the world, they will do anything to keep the system intact!

Thats the problem we have today!

We need to wake up and see that banks control the governemnt and as long as that is happening, we all are slaves to it!

[frenchbuddha2008]

Debt can help promote an expansion of the economy, but the greedy always get greedier, and pay $1.3billion in BONUSES to the directors of the 6 banks that failed this past 2 months. When it comes time to pay the piper, guess who'll have to pay. THE TAXPAYER!!!!! ;-(((

[TheSophist2007]

These vids highlight the serious trouble a run on a bank will cause, its like an inverted pyramid that will one day come crashing down, and practically has....

[lynnopoly]

"Some people think the Federal Reserve Banks are United States Government institutions. They are NOT government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders."

-Congressman Louis T. McFadden

[lynnopoly]

-Congressman Louis T. McFadden served as Chairman of the House Committee on Banking and Currency from 1920 thru 1931. The previous excerpt is from a speech which is now difficult to obtain from the Congressional Record, in which he addressed the House of Representatives in the midst of the first Great Depression, June 10, 1932.

[Ugluk1000]

Well, times have changed. Lol namely, Central Banks are not 'Private' or 'for profit institutions'. So I don't quite see your point. They now have a monopoly of credit but with the best intentions possible.

[gsuitter]

And this ladies and gentlemen, the creation of money out of thin air, is what causes inflation.

For a sound money system please check out Ron Paul for president.

RonPaul2008 dot com.

[Ugluk1000]

Agreed, though of course if the economy grows by the same amount as money being printed off, there is no inflation.

An alright video, good demonstration on how the high powered money multiplies up to the money supply. Although I don't quite agree how this is being educated as though its a really bad thing; just 'debt' in itself if not a bad thing, and really this video just capitalises on a viewers likely negative impression on the word 'debt' to then be lead to believe the system is broke.

[OgeronimonominoregO]

"if the economy grows by the same amount as money being printed off, there is no inflation."

Yes, but I think that even when prices are stable we are still being ripped off, because if the money supply were fixed then productivity gains would steadily increase the purchasing power of our money.

You're right that debt isn't bad in itself but that's not what money is supposed to be. Money is value. Debt is a promise to pay money. They increase "money" by increasing debt many times over.

[Ugluk1000]

"Yes, but I think that even when prices are stable we are still being ripped off, because if the money supply were fixed then productivity gains would steadily increase the purchasing power of our money."

Thanks for commenting. But if our money supply was fixed, then the overdemand for money would increase interest rates to tremendous levels which could grind our economy to a quick halt, and soon the effort to increase our purchasing power have nastier consequences than their supposed bonuses

[OgeronimonominoregO]

The only reason it would be fixed is if demand was met. If the demand was unmet, it wouldn't be much of a "money supply", would it? The only way to properly meet demand in ANY market is to allow the market to be free.

I'm not talking about the present system. They have a monopoly.

Central planning does not work. If the market for money and credit were free, the demand would be met efficiently. As long as there is no monopoly control, there won't be a shortage of supply.

[Ugluk1000]

agreeeeeed