Where you hard earned cash comes from

Am I the only one who pictured Marcus Tucker while listening to this???

What was it that pissed you off??? You didn't think like this or know about this before???

This is why the bigger economical countries like the US go through recessions every 25 years or so and a depression roughly every 100 years...

Thank you for posting that Lestat. I'm ashamed to say that I was completely surprised by what I saw. I was under the assumption that our money was generated by our GNP, taxes, some debt and an etheral idea of balancing inflation (output) with "real worth" (input) of our tender. HA! Wake up call! And a revolting one at that. I knew the banks made HUGE profits on lending, anyone who doubts that take a look at the interest paid on a 30 yr mortgage. The fractional lending ratios are mindboggling, and VERY scary.

I've been working hard to get off the treadmill of debt. Methinks I'm going to try even harder. The economy might collapse if everyone becomes debt free, but screw that, homey don't wanna play that no mo......

Actually I think if everyone were to become debt free we would move in the direction of automation, making everyone's life much easier and enjoyable... Seeing any of the happen is just too many years away to count...


I learned a lot of what is in that video at a special course I had to take some years back... It is very disturbing to realize that most of what we think is money doesn't really exists... It's just been the way of things for so long that no one really thinks change is possible...

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Thank you for your profound sense of the obvious.

But why should one be 'pissed off?' Every system has its "money." People use money and money uses people. Been this way since Adam and Eve traded with _the man_. Will be this way until the Restaurant At The End Of The Universe.

~@:o?
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I did not see the video - yet - I am still trying to understand the term "hard earned."

Basically we're all fucked... but the only thing that has kept us going is the fact that it's not going to happen to the present generation so who cares, right? What a joke.

-Cub. =o)

Unfortunately we can't get out of debt.

It would be impossible....

This is because money is created at interest too.

The government borrows the money at interest from the central bank and then creates bailouts and pumps money into the economy.

There is always more debt than money in circulation because the gold standard has been abolished. At least before the money supply could only be reduced to the amount of gold there was. Now we don't even have that.

The thing that pissed me off the most was the fact that I was under the impression that money lent out was generated by deposits. I had no idea that my 100 dollar deposit could create
10 000 in lending.

Thanks for posting that Lestat. I had no idea about most of that, but it's really opened my eyes.

I have a friend who's a bit of a nutball who believes the World Bank is to blame for most of the planet's problems. I guess he's not entirely off the mark.

Still, it doesn't seem that creating a new system is on the cards for a long time (mainly because most people are ignorant to how it all works).

Sadly it doesn't matter how many people learn of this... There are only 2 ways to get away from it {which will never happen}...

One, is for everyone to become wealthy enough to get out of debt and become debt free... Not likely, right... Why is this not likely, because those who control money will never allow that to happen...

Two, would be for everyone, and I mean a good 80% or more, to stop paying their bills and demand real and true change... Again, not likely...
We as a world, not just any one country, need to stand up and say we do not believe in money anymore and demand that this world find another way...

I like the Star Trek mentality: people do things not to get paid but because it's considered for the good of mankind, and they know that in time they will be able to get given a service in good faith as well. In other words, the people control the means to production.

...but in the United States, that's called communism! lol!

-Cub. =o)

Cubase wrote:...but in the United States, that's called communism! lol!

Or Socialism...

The big wigs of society fear being equal... No one wants to give up power once they have it... Which is why any party to have power and then lose it tend to try and try to tear down any part of the new party in power... Democrats did it in the last 90s when they lost power, they started to tear at the Republicans and now that the Reps have lost power they are tearing at the Dems, it is an endless cycle...
It's even worst when it comes to people with Money and Power, they fear even more so becoming equal...

Mankind doing and acting in the best interest of bettering itself is foolish to think of in this day and age... Though it would be Wonderful if we could... No one in power truly wants to look to the future, they want to see how they can make the most right now, today... Because they fear their fortune may be gone tomorrow and that is their biggest fear, that they would be like everyone else... So we are left with different classes of people ranging from those living on the street to those who own the street...

I live a comfortable life, but I would gladly live in a world without money... World where all of us enjoyed the same comforts of life...

I liked the old days when people bartered for the things they needed. I clean my chiropractor's office every other week and he gives free adjustments for me and the little lady. Not a bad way to go.

lestat666 wrote:Unfortunately we can't get out of debt.

It would be impossible....

This is because money is created at interest too.

The government borrows the money at interest from the central bank and then creates bailouts and pumps money into the economy.

There is always more debt than money in circulation because the gold standard has been abolished. At least before the money supply could only be reduced to the amount of gold there was. Now we don't even have that.

The thing that pissed me off the most was the fact that I was under the impression that money lent out was generated by deposits. I had no idea that my 100 dollar deposit could create
10 000 in lending.

Actually, the video addresses issues with the gold standard (issues of hoarding, supply, etc). It was illegal to possess gold for awhile during the great depression due to hoarding.

But if the 10:1 ratio surprised you, don't look at Fannie Mae's balance sheet. Don't look at what the Bear Sterns and JP Morgans of the world were (are) doing in derivatives or CDOs. There you'll find leveraged bets of 80:1 on up.

I find it tragicomic about how emotional most people get about taxes, but then willingly "tax themselves" via debt.

That could explain why those companies went bankrupt.

I still think just getting rid of money would cause society to advance exponentially in a way.

Mainly because it would eliminate the cost of making things better.

People always say.... oh we can't do that because it costs too much.

An example of that would be computers... we can't build the fastest computer that we have the capability to build at the moment because people can't afford it.

We can't make our factory smoke stacks 100% clean because it costs too much....

just a few examples.... cost is holding society back.