In 1913, the wealthiest European banking families created the Federal Reserve Bank to advance their own interests. When the US Dollar was delinked from gold in 1971, many said this action secured its inevitable demise as it would be inflated until its value became negligible. With the US economy now under powerful stress from so many different sources, we are witnessing the slow-motion collapse of the World's Reserve Currency - the US Dollar.
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Thursday, May 19, 2011
If Governments are supposed to be in charge...
Why is it that our so-called sovereign governments borrow their countries' money from privately-owned Central Banks (which charge interest) when they could each create all the interest-free money they need?
Where does the extra money come from which they need to pay down the interest as well? If that has to be borrowed too, then their debt just gets bigger... and bigger...
How can a money system, which can only function with perpetually accelerating growth, be used to build a sustainable economy? Isn’t it logical that perpetually accelerating growth and sustainability are incompatible?
What is it about our current system which makes it totally dependent upon perpetual growth? What needs to be changed to allow the creation of a sustainable economy?
Paul Grignon's Money as Debt - Mini Video Tutorials
