Money is not made out of thin air, it always represents value given. But the banks are usurping individuals' and corporates' right to evidence their own promissory obligations and then adding insult to injury by charging interest on such evidential notes without cover for interest being provided for in the system.
Video does get it right on some substantive issues like interest being insufficiently provided for in the money supply so inevitably loan defaults occur resulting in confiscation by lender of collateral. But then video goes on and recommends use of gold and silver coins, which could never provide enough liquidity for ordinary levels of economic activity and anyhow as events of the last few days show, gold and silver 'values' [sic] can alter for no obvious reasons and are highly prone to manipulation.
Incidentally that 'Swindling the Goyim' video was far better at explaining the issues in somple terms and should be made a sticky on the front page, although its overblown ethnic focus could limit the message.
Well-intentioned but fundamentally flawed in a couple of ways, see
ReplyDeleteMike Montagne - the problem is not debt
Money is not made out of thin air, it always represents value given.
But the banks are usurping individuals' and corporates' right to evidence their own promissory obligations and then adding insult to injury by charging interest on such evidential notes without cover for interest being provided for in the system.
Video does get it right on some substantive issues like interest being insufficiently provided for in the money supply so inevitably loan defaults occur resulting in confiscation by lender of collateral. But then video goes on and recommends use of gold and silver coins, which could never provide enough liquidity for ordinary levels of economic activity and anyhow as events of the last few days show, gold and silver 'values' [sic] can alter for no obvious reasons and are highly prone to manipulation.
Incidentally that 'Swindling the Goyim' video was far better at explaining the issues in somple terms and should be made a sticky on the front page, although its overblown ethnic focus could limit the message.