Money as Debt

This astounding video explains the true nature of money, and why we are in great peril. It’s very timely, given the global financial crisis that we’re in today…

Now, it may be just my imagination, but doesn’t this video explain exactly what’s going on right now with the global financial crisis? The United States have to pump trillions of dollars into the economy in order to prop up the collapsing banking system, which is based on money that doesn’t really exist, ie, money that exists only as debt.

And didn’t the crisis partly arise from banks attempting to inflate the money supply through sub-prime mortgages, supported by credit default swaps (or money that the banks didn’t have)?

Perhaps President Obama should watch this video. Now is the time to replace the fractional reserve banking system, and restrict the ability to create money only to governments, not (private) central banks.

(This opinion belongs solely to the author and does not necessarily reflect the views of The Good Sex Network.)