Money As Debt Chapter 1 | How Money Became Worthless | Documentary
51Money As Debt | How Money Became Worthless | Documentary:
Money as debt, is a documentary by animation maker Paul Grignon. The documentary explains what money in our current economic system actually is, means how it is created and how our money system has been created over the centuries.
The documentary aims to make it clear to the viewer that the current money system is based on ever-increasing debts and would like to make the connection that the money system is being used as a ?control tool? bankers ?to enslave us?. Furthermore, the documentary maker wants to make it clear that the debt-based system will encourage poverty and be unsustainable in the long term and will collapse.
Realistic scenario?
The documentary gives a good picture of the reality that borrowing or money creation is one of the methods to keep our economic system going. The documentary comes as it asks the question of guilt to ?a few that are so powerful that they control the whole world?. It is true that banks are able to (overall) convert 1000 euros into 10,000 euros in debt. Essential point here, and that seems to be the documentary ?forgotten? to be, this system is based on the confidence that this borrowed money can be repaid. And if this is not possible, the bank always has the opportunity to recover the borrowed money by seizing the goods financed by the loan.
But it is precisely this fact that the documentary (perhaps unconsciously) raises an important point: if it turns out that loans cannot be repaid, as we have seen recently with the credit crisis, how do we solve it? And what if it's unfixable, what could happen? The money borrowed from America through the rest of the world runs every day; The goods purchased by America on an "I Owe You"basis are therefore increasing on a daily basis, which means that a collapse of our financial system is not yet so unrealistic.
As always, the credits goes out to the makers of this video :)