You can't understand it in one short paragraph. There are several key concepts to understand.

It starts out with our monetary system.

Money IS debt. Huh?

When new money is created, it's owed back to the source (commercial banks).
When commercial banks loan money, money is created.

When loans are repaid, money is destroyed. Money disappears.

Here's a cartoon video that explains it very well. Your education starts here:
http://video.google.com/videoplay?do...74362583451279

Don't comment unless you've watched it or understand our DEBT-based fiat currency system.

 

Um...that **** is 47 minutes long.

 

Um, that **** only affects your LIFE.
If you're constipated you'll spend more time taking one ****.

Didn't I just say you can't understand it all in one paragraph?
This is the reason why so many people are so ignorant.
They refuse to spend any time educating themselves.

 

I'm just saying, I'm at work and even if I had speakers assuming people will just lightly take on a 47 minute video is a little naive. No one really reads forums other than for light reading or specific information they already know they need. I'm not saying it's not important or that it isn't worth while, but lets be realistic. People spend a good portion of their life understanding finances and the economy and dedicate themselves to its nuances.

 

Your doom-and-gloom, fight the establishment, fear of authority posts grow weary.

Point me to a successful country where the majority of business is conducted through established capital, then we'll talk. There have been many Nobel prizes given to economists who have shown through multiple means that a capital market is crucial to efficient business practices. See "Law of One Price" for instance. Are the Nobel committees also corrupt with the evil devices of mainstream media, big business dictators, and pandering politicians?

Do you have to take the radical skeptic's view of everything in this world?

 

Oh yeah? Really? Because this financial crisis hasn't effected me for ****. Except that gas has gone down, which is good.

Eat me.

 

Fiat currency, thank ******* Nixon for that one. Idiot.

DOT foldered so I can watch the video later.

 

sam, it goes back to the Federal Reserve Act of 1913.

 

Ignorance is bliss.

 

I NEVER said capital markets are bad.
I said "DEBT-BASED fiat currencies are bad".
I like the idea of a NON-debt based fiat currency.

You commented without watching the video.

 

I've seen parts before, and frankly, wasn't impressed.

I'm sorry, but your credibility for being able to post un-biased critiques of anything is quite low to me. I've given your postings the benefit of the doubt too many times, and wasted too long reading through and watching your various articles, videos, and presentations. Do they have points? Sure. Are they gospel? Hell no.

It's so easy to point out past errors, and criticize political and economic decisions from years past. It's also quite easy to throw around the "solution" of participating in local politics, and call people naive who challenge your ideas. So, what else are you doing to help the situation? Spreading radical, biased views of various apocalypse-causing phenomenon from half-educated "experts" to car forums? Neat.

 

I see you didn't even try to understand what the video was saying.

 

No. That was when modern banking and currency was, i say, invented.

But it was thanks to Nixon was the dollar un-bound from gold here in the states. The only way our money means anything these days is our word, not how much gold we have in our reserve.

 

http://video.google.com/videoplay?do...edom+to+facism

 

I see you are arrogant and unrealistic.

 

Ignorance is constantly claiming the sky is falling.

 

The sky isn't falling, the stock market is.

 

This is a waste of my time at the moment. I'll watch later when I have more time to kill... Until then, I'm gonna go look at entertaining threads.