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Could someone please explain the money supply?
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Bill Still - The Money Masters
http://video.google.com/videoplay?do...34454816686947
http://video.google.com/videoplay?do...15773877500927
Mises Institute - Money, Banking and the Federal Reserve
http://thefreedomchannel.blogspot.co...l-reserve.html
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Thanks for the link Nelsio, I watched the money masters this morning. It really goes to show that the other thread going on in this forum about capitalism is pretty pointless. It seems like the majority of poverty is caused by world banks and the sick thing is, is that nobody understands whats going on.
However, in that documentary he actually made a good arguement for not going back onto the gold standard like many ACists make. The documentary claimed that 2/3 of all the worlds gold was in the hands of the world banks, so that a change to the gold standard wouldnt change much. The documentary then goes on to talk about interest free money printed by the american government. Is there no money in the american economy that isnt backed by debt? I'm having a little trouble understanding this point. When the american government issues money through bonds what exactly are they issuing?
Also what might be interesting to this thread was the talk in that documentary about the Island of Guernsey, which has no privately owned central bank. From
wikipedia
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Unlike many countries Guernsey has not delegated money-creation to the central bank and has instead issued interest-free money since 1816. As a result the government has not had to use increasing amounts of tax revenue to repay debt to the central bank, which has led to low income tax rates, no goods and services tax and no capital gains tax.
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Can anyone make a good arguement for the existance of a privately owned monopolistic bank that controls our money supply? I'm coming up real short on this one.