Solving the world’s financial/debt system
I don’t normally write financial related blog posts but I was inspired by a friend of mine, Tom Nixon after a coffee and Twitter conversation we had recently (as you do). He pointed me in the direction of a documentary from a couple of years back called The Secret of Oz.
No excuses – watch it. It’s embedded below.
The revelation of the documetary (which really shouln’t be a revelation but more just common sense/knowledge) is that there isn’t enough money to go round. There never will be. Why – because all money is created as debt.
Thankfully there are some solutions proposed, but none more clearly laid out than on Tom’s own blog post so I urge to to wander on over there after watching and add your comments there too.
Funnily enough we’ve been warned about the dangers of federal lending (i.e. lending by private banks rather than the sovereignty) since the first well before the first money was invented. Here’s Aristotle in 325 BC:
Money was intended to be used in exchange, but not to increase at interest. And this term interest, which means the birth of money from money, is applied to the breeding of money because the offspring resembles the parent. Wherefore of all modes of getting wealth this is the most unnatural.
…and more recently Henry Ford:
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
Happy viewing! I feel enlightened.