Money as Debt

Money as Debt (revised) (1x1)

Exibido em:: Jan 01, 2009

This movie explains in simple "allegorical" terms how the modern banking system developed. It should be noted that since this movie was created, the "fractional reserve system" has been exposed as a "myth". I had to present the fractional reserve system in this movie as it was a prevailing belief of my American advisors and was supposedly officially in effect in the USA . It had been officially phased out in Canada by 1991 so I knew it didn't apply here. The truth is the simple statement ... "banks can create as much money as we can borrow". This is literally true as long as "we" includes the national taxpayer and "banks" includes the nation's central bank. https://www.dailymotion.com/video/x75e0k