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Money Makes the World Go Around |
 The stuff we all want more of. Best place to learn all about the concept of money is G. Edward Griffin's famous book The Creature from Jekyll Island. A deeply engrossing read, you will never see life the same way again. Additionally, watch Part 3 of "Zeitgeist" for a crash course on money and the Federal Reserve.
Money was conceived as a convenience. The printing of paper money launched the world of financial flim-flam. What is a piece of paper worth? Nothing! How do you know how much wealth stands behind it? The banks are fractional reserve lenders, which means they lend out much more than they have -- up to 10 times their assets. This is based on the assumption that those who deposit $$ with them will not all show up on the same day to ask for the funds back. While lending more than they have, the banks collect interest on the same -- more imaginary $$. The rub is that we OWE them all this on our end, while they INVENT it on their end. With the proceeds, as we strive competitively against one another to earn enough to pay our loans back, the powers that be are literally buying our world up from under us. No wonder the Queen of England owns half of Manhattan!
As fiat currency (fake paper money) cycles through our lives, it indentures us to the system through interest and debt. Decades ago, Americans bought what they could afford. But in the 1960s, the banks offered us charge cards, leasing and adjustable mortgage rates. We fell for it. Today people are busy concocting image and lifestyle on borrowed funds, blissfully unaware of the fine print, penalties and ultimate slavery such seductions will create for them. Watch Danny Schechter's wonderful documentary "In Debt We Trust" for more education! (Read more here)
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Last Updated on Monday, 29 December 2008 12:45 |
