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Video ECONOMICS FOR DUMMIES

Oliver Plunkett

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Most people have no clue about the financial system under which they labor. For example, how many people understand that the bank notes in their wallet are not money, but debt notes, with outstanding interest to be paid on them by society?
Very few I suspect. I encourage anyone to upload video links or book references for those who want to have a better understanding of the financial system we are beholden too. The subject is not as boring or as complex as you may think, but having insights is a form of freedom. Knowledge is power. Everyone should understand the world of finance that controls their daily lives.

I ask that people avoid uploading overly complex, obtuse or esoteric economic material. The idea is to inform the ignorant, not create a wank-fest.

I wanted to start with this excellent discourse with Guido Preparata, one of my favorite economic thinkers. He breaks down the role of money, interest and debt etc in a way I think most people will be able to grasp. The concept of money and interest (debt) as a non perishable fixture in a perishable economic order is very interesting, as discussed in this video. A real eye opener:

 
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Oliver Plunkett

Oliver Plunkett

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Another interesting tidbit is the reason for why debt can never be repaid:

The first person to ever take out a bank loan receives 100 Euro. There is now 100 euro in the economy. There is a 10% interest rate. You owe the bank 110 euro. Where will you get the extra 10 euro? There is only 100 euro in existence after all!

Well, the banks have to create the extra 10 euro of course, and that extra 10 euro is also created and loaned out at interest (no free lunches here). And so the magic of compounding interest and increasing money supply simply feeds the beast of never ending debt peonage.
 
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the world financial system is based on a lie....debt

world religions are based on a lie.....the sky fairy

only clan, kith and kin ...the nation.....is constant. But always in need of defending lest it be lost....as the American Indians lost theirs.
 
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