Very interesting video explaining the money system

PJD

I found this video very interesting to watch.

I didn't realise banks created 95% of the money in circulation today.

I never realised that the money system is never taught in schools.

And the point at the end about how much of tax payers money is spent on interest paid to the banks is interesting also.

What I'd like to ask though, - is if any of this is true!?? Or is the information contained in this video complete bobbins?

http://video.google.com/videoplay?docid=-9050474362583451279

PJD

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£$&*"($£&(

A very interesting video. It does explain why lending is everything. If it's accurate it does suggest the whole system is nuts.

Tabsy_2

More fodder on the same subject for your viewing pleasure.

Chris Matenson: Crash Course

Strongly suggest you watch this all the way through.

PJD

Cheers Tabsy, - i'll take a look at that later when I get the chance.


Can anyone confirm the the fractional banking system described in the video above is an accurate account of the UK banking system?

Reaper

The video was mentioned in a previous thread too:
http://forums.moneysavingexpert.com/showthread.html?t=1270707

Apreciar

Can anyone confirm the the fractional banking system described in the video above is an accurate account of the UK banking system?[/quote]

The fractional reserve is a fundamental feature of the banking system. In normal circumstances it works fine. The central banks the BOE or FR have to take steps to ensure that when it is not normal they can cover it or the particular country is shot.

csiman

yep, all true. The elite few get richer and richer off the backs of the 99.9% of the world. http://en.wikipedia.org/wiki/Fractional_reserve_banking