Many argue that if the power to create money for the public good was returned to government then politicians would abuse it. Perhaps there would be some abuses; after all politicians are human. No human system will ever be perfect. But one thing we know for absolute certain at this point is that if you leave the power to create money for private profit in private hands there will be disastrous criminal abuses which will devastate national and global economies on a regular basis which we will all have to pay for. What else is the current crisis other than a private banking created depression? Once the deregulation of the financial sector was basically completed by Clinton, it took them less than a decade to bankrupt the entire Western hemisphere.

@lunarmodule6419

4 жыл бұрын

Private or Gov - as long as there are rules that profit the vast majority of the population + real enforcement : fines and prison.

Banks should be regarded as production facilities; money factories; they produce money and sell it (loan) for profit (interest). Banks create money out of nothing, and sell it for profit. This should be illegal.

@cyrusol

3 жыл бұрын

Banks also destroy money into nothingness.

rather have mone creation in hands of govt than banks. anyday.

The German Bundesbank fluently explained in the monthly report of April 2017 why Irving Fisher's idea of a 100% reserve actually doesn't bring us a more stable banking system, why it doesn't stop money being created ex nihilo and why it would actually be harmful since certain operations and function carried out by banks now wouldn't be possible anymore.

One downside commonly missed by critics is the crony capitalist element. Where a government of the day could refuse to give (or may undeservedly give) a person government created money for political reasons.

In a sense, we all can 'print' money as individuals. We may not be able to create the physical dollar bills, but any time we do some form of work there is the possibility for us to be compensated for that work, we go from noting to something using our own will. Just a random thought.

@JohnNewtoneu

9 жыл бұрын

most of you money you are paid for your work come from debt, that is a big issue

@triforcelink

9 жыл бұрын

I can always do more work to cover my debt.

@JohnNewtoneu

9 жыл бұрын

the money you are paid is borrowed to pay you, it comes from debt

@JohnNewtoneu

9 жыл бұрын

triforcelink Problem : money was borrowed to pay you in the 1st place

@triforcelink

9 жыл бұрын

Why does that matter? If i borrow money, I can always do more work to pay it back. It's not like I have to borrow more money to be able to pay it back.

Wealth us really what makes lives better. But money is helps wealth be generated, exchanged and preserve it. The point here is the function of money is being shifted toward the rich interest not the majority of people. Banks make more money with shady manœuvers then supporting real wealth creation. Thx

Give the SNP Indy then close the border and charge Scots services and goods entering England even if they are on their way to Europe. The French charge 12% or 17% tax on Whisky imports to France right now.

why do we need more money to be created again? i know of no reason, yet it is assumed necessary throughout this video

@danthemansmail

9 жыл бұрын

Peter Miller your question gets right down to the crux of it. I could recommend many sources of information that could answer your question, but none so comprehensive as Zeitgeist The Addedum. You can find it on NetFlix and probably on You Tube if you go looking. Prepare yourself for what you will learn. Your very world view will be altered and you cannot unlearn what you find out. There is a price to be paid for knowledge......

@mulllhausen

9 жыл бұрын

Dan Harris i know about zeitgeist. i wasn't saying "we don't need money", i was saying "we don't need *more* money"

@danthemansmail

9 жыл бұрын

Actually Peter we do need more money...all of the time now. Since the crash so much debt has been taken on by all the sovereign countries of the western world, that they constantly need more free money to pay the interest on the debt already incurred. There is a reason that the Fed has not raised the interest rate in 6 years. They can't. If they do...the sovereign debt becomes unsustainable and the whole thing comes tumbling down. We are near the end of the ponzi scheme my friend....hope you find a chair when the music stops. Its going to stop soon I am afraid.....

@mulllhausen

9 жыл бұрын

Dan Harris i think you're right about being near the end of the ponzi scheme. but printing their way out of this crisis is not a necessity. default would be the better option imo

@danthemansmail

9 жыл бұрын

Peter Miller I hate capitalism and believe it to be evil. But it does have a self righting mechanism if you let it work. Yes all those banks should have gone to bankruptcy during the crash. The day they changed the rules and began propping up the banks instead of letting the market do its job...was the day they sealed their fate....and ours.