If you have the time, check out this video (it's 47 min long!). The beginning may be a bit boring, because it is something that you may know already. But it gets more interesting as the video progresses. You may get lost as some point, as it happened to me, so I had to rewind. I started watching this thinking it would be just another nutty conspiracy theory, but it's not that. It is a proposal for a complete overhaul of the world's monetary system. I have been trying to find some fatal flaw in the logic but could not find any. It seems to make sense.
The video is from 2006, before the big collapse of the banking system.
... Seen it? Well, while not everything is completely accurate (according to the author, simplifications were made in the interest of understandability). It is sad that those inaccuracies have given critics fuel to brand this work as a conspiracy theory. More information about those criticisms, and their response by the author, can be found in www.moneyasdebt.com.
At the heart of the problem lies the fractional reserve system, which we have all come to accept as the way things are, and need to be. There was a detailed proposal for a full reserve system following the Great Depression. Called A Program For Monetary Reform, it was widely supported by most economists.
The Austrian School of Economics advocate a full reserve system. The views of this school within the economics profession have been considered heterodox for some time now, but many of its theories have been subsequently adopted by mainstream economics.
At any rate, the silence on this topic is strange in the face of recent systemic failures of the banking system. Public awareness of a possibility of a huge monetary reform is necessary and this debate needs to be had.
The video is from 2006, before the big collapse of the banking system.
... Seen it? Well, while not everything is completely accurate (according to the author, simplifications were made in the interest of understandability). It is sad that those inaccuracies have given critics fuel to brand this work as a conspiracy theory. More information about those criticisms, and their response by the author, can be found in www.moneyasdebt.com.
At the heart of the problem lies the fractional reserve system, which we have all come to accept as the way things are, and need to be. There was a detailed proposal for a full reserve system following the Great Depression. Called A Program For Monetary Reform, it was widely supported by most economists.
The Austrian School of Economics advocate a full reserve system. The views of this school within the economics profession have been considered heterodox for some time now, but many of its theories have been subsequently adopted by mainstream economics.
At any rate, the silence on this topic is strange in the face of recent systemic failures of the banking system. Public awareness of a possibility of a huge monetary reform is necessary and this debate needs to be had.
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