Money as Debt - Full Documentary

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Strong rec Sir_Substance · 2017-11 · on “Bitcoin World’s 30th Largest Currency, Market Cap Closes on Mastercard”

>then didn't some subset of techies print a lot more money than there is? I think it's quite important that you watch this: [this video] If you feel extremely angry afterwards, you're not alone.

Recommends mkstowegnv · 2018-04 · on “Switzerland: First country to have national referendum about Sovereign Money”

Money has a very long history and discussions about money are deeply entangled in bitter and fanatical battles between political/ religious/ philosophical viewpoints. Many of those viewpoints ignore the counterintuitive ways that money and banking actually work. For the most part, bankers and economists have a vested interest in keeping as many outsiders as possible from understanding how it really works. For all its flaws and strange history, the first Money as Debt video [1] still makes the most sense to me and I have yet to find an economist at a dinner party who refutes the disturbing conclusion that modern monetary policy is inherently unstable and depends on continuous economic growth.

Recommends Sir_Substance · 2018-05 · on “The Micronesian island of Yap has stone money too heavy to move”

>I think it's also similar, to a lesser degree, to modern card-based banking, in which all the money physically sits in a vault and only changes hands virtually. That is in no way how modern banking works. Only about 1/7th of the money in peoples bank accounts in the US has a physical counterpart in any bank vault, almost all of the "money" in bank accounts is purely virtual. Most money today is not printed by the mint but instead wizarded into existence in a fashion pretty much the same as how world of warcraft gold is created, but with regulatory restrictions in place around the wizardry to create desired economic outcomes. When a crisis prompts the population to collectively attempt to wi

Cites Fnoord · 2019-07 · on “If Sapiens were a blog post”

Yeah, that narrative isn't new; its being covered in various documentaries and books, including this cartoon [1] Harari gives very good examples of how money is useful for trade in his book. These examples underline how money is useful for trade. Its downright impractical to trade goods for goods because of multiple factors: fluctuation of value, different values for different people, lack of preference of the item from one of the parties. Perhaps there was not one reason why money is useful. There surely isn't one now. [1] [this video]

Cites loup-vaillant · 2023-04 · on “Shutting down my legal torrent site after 17 years”

[this video] More or less. Long story short, when money is lent in a bank, it’s then deposited elsewhere, and then it can be lent again , such that with a fractional reserve of 10% you can ultimately multiply the amount of money in all deposited accounts by 10. In other words, a whole bunch of money just got created. It’s not central money, but it’s still money. You could maybe try to counter with "but but but bank runs", but if this happens the state tend to print central money to compensate, thus actualising the money creation that happened with fractional reserve banking alone. > If we didn't have fractional reserve banking, it feels banks could not lend AT ALL. They could lend their own money