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Mony as Debt video?

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    #2
    Time Magazine
    Registered Users Posts: 8,452 ✭✭✭Time Magazine


    It's 47 minutes long, how do you want us to "verify" it?

    Moved to CT.


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    #3
    jdpl28
    Banned (with Prison Access) Posts: 186 ✭✭jdpl28


    some people probably have already seen it. I've seen a number of references to this video in this forum...


    basically it says that all money in circulation is just a loan taken out by the bank. There is very little real actual money in circulation. And that when your taking out a loan/mortgage, the banks don't actually take money that was saved by some other lender, but just create the money out of thin air.

    thats what I'm wondering if its true or not...


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    #4
    Time Magazine
    Registered Users Posts: 8,452 ✭✭✭Time Magazine


    Like just about everything else tabloid, there's some truth in it the picture it paints is mis-leading.


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    #5
    Mahatma coat
    Banned (with Prison Access) Posts: 6,869 ✭✭✭Mahatma coat


    well then, could you clarify the main points for the OP?
    Please


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    #6
    bonkey
    Registered Users Posts: 15,443 ✭✭✭✭bonkey


    I'd suggest searching this forum for "fractional reserve" and reading the threads which have already discussed the topic.


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    #7
    [Deleted User]
    Posts: 5,589 ✭✭✭ [Deleted User]


    jdpl28 wrote: »
    Has anybody seen that video - "Money as Debt"? Is this true? can anybody verify this?

    http://video.google.com/videoplay?docid=-9050474362583451279&ei=UI-EScXZK4vSjgL0npX0Cg&q=debt+as+money

    If you want 'verification', then find some published or working paper which proposed this.

    The paper will have the sources which it is based on and will include more detail then a video.
    Proper work does not require special effects or emotive commentary.


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    #8
    Time Magazine
    Registered Users Posts: 8,452 ✭✭✭Time Magazine


    Deleted User wrote: »
    If you want 'verification', then find some published or working paper which proposed this.
    Pointing somebody who doesn't understand monetary economics to the NBER is like an Umberto Eco novel to a child who's interested in Scooby-Doo.

    +1 to bonkey's suggestion.

    jdpl28 - if you're really interested in how monetary economics works, learn the system as well as, and ideally before, reading the critiques. You're far less likely to be mis-led that way.


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    #9
    Mahatma coat
    Banned (with Prison Access) Posts: 6,869 ✭✭✭Mahatma coat


    heres one of those threads which have come up before
    http://www.boards.ie/vbulletin/showthread.php?t=2055170679&highlight=fractional+reserve

    actually there were quite a few, at least one of which turned into awitch hunt against me, and a few more that just descended into lunacy and skewed of at wild tagents

    not very many have actually answered the questions posed in a clear and coherent manner tho.

    so how about we limit this thread to the discussion of the points raised in the Video and explaining where the mistakes/exagerations which you claim are this time rather than mudying the waters with more confusing arguments.

    Just a thought


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