Fiat Money

Conveniently explaining why our money system is unfair in under 4 minutes

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Picture of kaneg35 achievements

+48 1. kaneg commented 9 years ago

we are fucked in other words..but still, brilliantly explained.
Picture of WildMonkey32 achievements

+10 2. WildMonkey commented 9 years ago

So at which point of time and place have humans not been exploited?
Picture of MajorIdea45 achievements

+23 3. MajorIdea commented 9 years ago

And what do we do about it? Bend over and take it in the ass.
Picture of mosfet2333 achievements

+3 4. mosfet23 commented 9 years ago

It's no coincidence that the FED, banks and corporations continue to sell us the lie that consumerism will magically save the economy and bring about prosperity, when what it really does is make the average wage earner ever more dependent upon his shitty job to make ends meet.

Prosperity (for us, not them) only has ever occured once interest rates were high enough to provide a reasonable return on savings; because those savings allow the average joe to leave his crap job for one that pays a fair wage.

At 0.70% interest rates, you'll never save enough to retire and live off the interest. Get used to the taste of cat food cause it's all you'll be able to afford in your 'golden' years.
Picture of jeffreybenoit1627 achievements

+8 5. jeffreybenoit16 commented 9 years ago

And that's why a lot of America's debt lies within its own citizens.
Picture of dogfish37 achievements

+6 6. dogfish commented 9 years ago

and gun restriction is coming. what a coincidence.
Picture of Natan_el_Tigre52 achievements

+8 7. Natan_el_Tigre commented 9 years ago

Taken from one of my comments on a related video (www.snotr.com/video/5632):

"I know this is difficult for most people to understand (the realness of normal distribution is sobering), and for most everyone else to accept (dismissing self-centered beliefs about reality requires phenomenal integrity), but we the people have created the national debt problem, penny by consumptive penny. And government is just a ten-letter word used to convey the concept of something else we the people have created, vote by unenlightened vote: yet another powerful other to, in most cases, blame for our individual shortcomings.

However, let there be no doubt. We built it and they have come; corruption is a natural symptom of the human condition. But they are part of us, and thus we have only ourselves to blame. I implore you to stop the madness, before it is too late. Too late not for humanity (I would have to be mad to speak like a prophet), but too late for yourselves as contributing members of society and conceivers of the future.

Prosperity and success above basic security and happiness, for the majority of us, are in reality the seeds of compensation and delusion, not the American Dream."
Picture of mr-rex39 achievements

+10 8. mr-rex commented 9 years ago

Where is Robin Hood?
Picture of drafterdb23 achievements

+7 9. drafterdb commented 9 years ago

That's small money though. They forgot the part where the banks loan to both sides of long sustained wars.
Picture of archis51 achievements

+10 10. archis commented 9 years ago

Lets make proletarian revolution dear comrades.
Picture of Thanny37 achievements
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-5 11. Thanny commented 9 years ago

Virtually nothing in this video is true, beyond the fact that it was Nixon who killed the last vestiges of a gold standard. No doubt it was created by a gold bug.
Picture of LightAng3l49 achievements

0 12. LightAng3l commented 9 years ago

So...is there someone here who did not know this already? :S
Picture of ughlah41 achievements
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-8 13. ughlah commented 9 years ago

Banks cannot create money out of thin air.
Picture of kurkudjikul25 achievements

+5 14. kurkudjikul commented 9 years ago

#13 Yes they can. Credit is real money only when you repay it back. Until then its value comes from your debt obligation.
Picture of sidewinder26 achievements

+6 15. sidewinder commented 9 years ago

The solution is abdication of all bank loans.
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+1 16. irishgek commented 9 years ago

Were do drug dealers fit in there then , they have lots of money :D
Picture of Dolfy5 achievements

+1 17. Dolfy commented 9 years ago

This is a video proof that they have no idea how the banking multiplicator effect comes out of the fractional reserve system. See this for an explanation:

http://g0f1gure.blogspot.hu/2012/11/back-to-gold-standard.html

Banks do not create money out of nothing! Only central banks can do.
Picture of Unknown37 achievements

+1 18. Unknown commented 9 years ago

#16 They own the banks. :D
Picture of chadica24 achievements

+1 19. chadica commented 9 years ago

PEASANTS, REVOLT!!! (Capitalism A Love Story, 2009)
Picture of DonaldMorton4 achievements

0 20. DonaldMorton commented 1 year ago

A very interesting video that explains in detail the financial processes and shows that banks always pay their money back.
I had a situation in my life when I needed to pay off bank interest, but at that moment I had no money. But the https://triceloans.com/1000-dollar-loans/ service came to my rescue and gave me 1000 dollar loans. They have very favorable conditions and fast service. I was very pleased. I recommend this service from personal experience.
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+1 21. DavidShimp commented 1 year ago

Very cool video! I liked!