Money As Debt

Money As Debt

This presentation explores how money is created and issued. Money used to be backed by Gold and Silver but today’s money is backed by debt – your promise to pay back a loan and the government’s promise to back up the currency. Although the solutions in the video seem a bit socialist the cartoon does a nice job of giving an overview of our monetary system.

more about "Money As Debt", posted with vodpod

“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.”
—Henry Ford

Mr. Ford’s quote invokes a sense of piqued curiosity, if not motivation,
to become more active at seeking to understand the way our modern economy works. Given the economic climate posed by the Troubled Asset Relief Program (TARP), also known as the “$700 billion bailout,” coupled with the even more recent approval of a $17 billion package for the Detroit automakers,the average tax payer can’t help but wonder where this “free” money is going to come from.

It is not the author's intention to spawn an overnight revolution, as Mr. Ford’s quote might suggest. The task at hand is merely to shed some light on the way(s) our money has been artificially controlled by government to serve the purpose(s) of government itself, rather than keeping the best interests of the people at heart. As we move into a new year, there are many speculations that this current economic recession will be continuing for at least another year, perhaps longer, and there is also talk of economic depression developing as well. Therefore, it has never been more important to have a strong working knowledge of our currency so that we may be better equipped to manage our personal finances and navigate through a difficult economic climate ahead.

By SAMUEL WASHINGTON