Topic: Money As Debt - documentary (Read 8722 times)
The Secret of Oz is a good one and Bill Still is on Bitcoin and Quark.
This is a nice article that I found in another thread:
https://bitscan.com/articles/what-is-bitcoin-backed-by
https://bitscan.com/articles/what-is-bitcoin-backed-by
The article concludes that "What gives bitcoin its value is that it is accepted as having value."
The word value refers to two things in the context of the statement
1. Bitcoin's current 'price tag', or market valuation.
2. Bitcoin's 'utility', or value proposition to users.
If we write "What gives bitcoin its price tag is that it is accepted as offering utility." then it makes more sense.
We can then conclude that bitcoin is not backed by bitcoiners who simply believe it has value and therefore it does, rather it is backed by an acknowledgement from users that it offers utility.
The valuation of bitcoin is not it's 'value', it is a price tag that reflects it's perceived value.
This is a nice article that I found in another thread:
https://bitscan.com/articles/what-is-bitcoin-backed-by
Cheers.
https://bitscan.com/articles/what-is-bitcoin-backed-by
Cheers.
we watched this in my sociology class the other day! Weird to see it on here too!
Nice to see that you're being educated about how broken and messed up the system is that you're inheritting.
Been watching this, interesting video's 
This video is a good presentation, but its description of money creation is incorrect: Commercial banks do not have any right to create money, they can only sell assets to central bank in exchange for money, they can not loan out money more than they already have
The money creation only happened at central Bank, and there is no FRB at central bank
The money creation only happened at central Bank, and there is no FRB at central bank
not only banks, but also credit card companies do it.
Credit definition: the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
Using a credit card you 'pay' with money you don't have, and the credit card company pays the shop with money they don't have and then demand it 'back' from you when you eventually have it. (note how they demand money from you even though they never had money to start with)
Thanks for sharing. Let me guess, you have around 55-57 years and you're starting to "wake up" 
funny
these are the exact videos that gave me my "wake up call" a few years ago. While talking to people about it the older people are the hardest to wake up- they have been living in
this system for 50+ years and can't imagine anything else or that the governing bodies can be wrong.
yeah, whats tvp?
If i remember correctly zeitgeist 1 was pretty good, but zeitgeist 2 had some kind of weird futuristic global robot economy idea which kind of weirded me out.
If i remember correctly zeitgeist 1 was pretty good, but zeitgeist 2 had some kind of weird futuristic global robot economy idea which kind of weirded me out.
Yeah and 3 completely side tracks but very informative movies all the same.
Thanks for sharing. Let me guess, you have around 55-57 years and you're starting to "wake up"
Nice video and comment according 
yeah, whats tvp?
If i remember correctly zeitgeist 1 was pretty good, but zeitgeist 2 had some kind of weird futuristic global robot economy idea which kind of weirded me out.
If i remember correctly zeitgeist 1 was pretty good, but zeitgeist 2 had some kind of weird futuristic global robot economy idea which kind of weirded me out.
TVP?
Zeitgeist 1 - https://www.youtube.com/watch?v=OrHeg77LF4Y
Zeitgeist 2 - https://www.youtube.com/watch?v=4Z9WVZddH9w
Two documentaries along the same lines as Money as Debt. This is the kind of information everyone should know.
Zeitgeist 2 - https://www.youtube.com/watch?v=4Z9WVZddH9w
Two documentaries along the same lines as Money as Debt. This is the kind of information everyone should know.
Oh good lord... Not TVP...
Zeitgeist 1 - https://www.youtube.com/watch?v=OrHeg77LF4Y
Zeitgeist 2 - https://www.youtube.com/watch?v=4Z9WVZddH9w
Two documentaries along the same lines as Money as Debt. This is the kind of information everyone should know.
Zeitgeist 2 - https://www.youtube.com/watch?v=4Z9WVZddH9w
Two documentaries along the same lines as Money as Debt. This is the kind of information everyone should know.
Thanks for sharing. Let me guess, you have around 55-57 years and you're starting to "wake up"
Great comment, "starting to wake up" Gold also come into existence without debt, and these are honest money, but I just don't know under what circumstance the government abandoned the gold standard and FED started to print money for themselves
Gold comes into existence not as debt, but notes issued on gold does, because they fractional reserve lent gold notes. That's where the whole concept came from. It's the notes people use as money, because safekeeping and carrying around actual gold is a pain in the ass for regular people. This made it easy for the bankers to issue notes on gold that didn't exist in their vaults.
We bailed out the banks is how we got off the gold standard.
The banks issued at low interest too many notes on gold (as loans) in the 20's. People used this cheap money to buy stocks with. This created a giant bubble, much like the recent real estate bubble. Cheap money for no reason generally causes artificial asset bubbles. Anyway, the stock market crashed and debts couldn't be paid back, leaving all the notes out in the wild where they could put the gold reserves at risk, so FDR confiscated gold, and then repegged the price of gold at a higher dollar rate. This is a bank bailout. Google for "FDR gold confiscation" or something along those lines.
The next step was Bretton Woods 1944, which made the reserve currency of the world not gold anymore, but dollars, which was backed by gold still, but this didn't really matter since countries were to settle their trading deficits with dollars from here on out.
Lastly, I guess because probably too many notes were floating around again for the vietnam war maybe like you said, and Ft Knox was probably empty by then anyway, Nixon in 1971 pretty much just said "fuggit, no more gold for your dollars anymore. We're done". This is a bank bailout.
What we are left with as "reserves" instead of gold is "monetized government debt". There is no way this is sane. This is a shit reserve. Gold was relatively sane until the first bailout, but it still sucked because of the unpreventable fractional reserve lending ability it affords.
They kept the fractional reserve part going though, using government "promise to pay" as reserves for commercial bank money creation in the form of loans to you and me. And it's pretty much the same private banking corporations now creating our base money supply as back when we were on the gold standard, and since even before the FED was created in 1913. It's not the government in case anybody still thinks the government creates our money supply. The FED is accountable to these banking corporations, not to the government. The FED is these private banking corporations, essentially.
alan greenspan on gold (before he went over to the dark side)
http://www.constitution.org/mon/greenspan_gold.htm
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves."
degaulle saw this clearly and demanded exchange of gold for paper. the printing of the paper in the 60's to fund not only the vietnam war but johnson's great society programs was destroying the value of the dollar due to inflation.
the only thing keeping this house of cards standing is our status as the world's reserve currency. the real reason for wanting to invade iran has nothing to do with nukes, it is that they have created an oil bourse which trades in other currencies and GOLD. the boys at nymex and ice take personal offense at this.....ah but i digress that is a story for another thread
http://www.constitution.org/mon/greenspan_gold.htm
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves."
degaulle saw this clearly and demanded exchange of gold for paper. the printing of the paper in the 60's to fund not only the vietnam war but johnson's great society programs was destroying the value of the dollar due to inflation.
the only thing keeping this house of cards standing is our status as the world's reserve currency. the real reason for wanting to invade iran has nothing to do with nukes, it is that they have created an oil bourse which trades in other currencies and GOLD. the boys at nymex and ice take personal offense at this.....ah but i digress that is a story for another thread
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