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What the Heck is a Bailout?
In 9 minutes, Paul Grignon, the creator of the internationally acclaimed "Money as Debt" animated series, sums up his analysis of our growth-dependent money-as-debt banking system and proposes a practical and time-honoured alternative concept of money.
The arguments and facts presented are all referenced in detail at moneyasdebt.net.
See also the short film The Essence of Money, a Medieval Tale
The full Money as Debt Trilogy is available on DVD.
Comments
Re: What the Heck is a Bailout?
(1) The video correctly says that our misunderstandings about money are rooted in our everyday language. Then the video itself falls prey to semantic error by saying, “Money is not valuable, like a gold coin.”
Excuse me, but ALL currencies are fiat currencies, whether it be paper, gold, sea shells, or whatever. Currency, including gold coins, only has value because people agree that it does. The currency value of gold is not intrinsic to gold.
The video is correct, however, to point out that with today’s system, money is debt, and the debt always compounds to crippling levels.
The video neglects to note that this happens because we have surrendered the power to create money. We borrow our currency from private bankers. As a society, we could print our currency for free, thereby having as much money as we need to maintain prosperity for all. We could erase the national debt instantly.
With our current system, politicians and media shills get away with lying. They say there is no money for social programs, but there is endless money for wars, bailouts of bankers, and so on.
(2) I wish that videos like this would highlight the power issue. Whoever has the power to create money has massive power indeed. The question is whether society has the power, or private individuals have it. If videos do not address this power question, then they do not enlighten. They seem technical and confusing. Worse, they present no solution. No way out of endless debt.
The solution, of course, is to restore to the people the power to create money.
(3) The euro currency is truly Satanic. The Troika told European politicians, “Surrender your monetary sovereignty to us, and you will rule as gods over your own people.”
Of course, private central bankers tell politicians the same thing in the USA and England.
(4) There is no need for a federal income tax. National governments do not operate on income tax revenue. National governments operate on money they borrow from private bankers. Income tax revenue is simply numbers moved around on government balance sheets. It is destroyed (canceled) upon receipt. The only reason we have a national income tax is to maintain banker tyranny. Since we must pay taxes, we must use the currency that private bankers lend to us.
As a result of this scam, politicians and media shills get away with LYING. They falsely claim that national finances are the same as personal or household finances. They say there is no money for social programs, because the government must “live within its means.” Of course, there is always money for wars and bailouts, since the bankers create it out of thin air.
Governments that have monetary sovereignty create the money. Thus, they need not “live within their means.”
If I can create money out of thin air, then I do not need to “live within my means.” My means are infinite.
It’s a scam designed to empower the One Percent and impoverish the 99 Percent. It lets bankers create depressions any time they wish. The scam has so brainwashed the masses that most people become angry if you explain it to them. They call you a moron. A “conspiracy theorist.” Hitler in Mein Kampf said that some lies are so hideous that most people cannot accept that they are lies. Most people prefer to spend their lives in a dream world. Indeed, the human capacity for denying reality is limitless, which is why most people are impoverished slaves.
There are even monetary reformers who grasp the truth of all this, but still live in fantasy. They think that politicians simply do not understand the scam. This is nonsense. Politicians understand it fully. They are on the bankers’ payroll. They profit from the scam, as do the bankers. The scam makes them gods, since we must beg politicians and bankers for money. That’s why none of them support Dennis Kucinich’s NEED Act, which would restore to the people the power to create money.
(5) On a different note, I have often suggested that if we want to have a “free market,” then let’s really have one, which means NO BAILOUTS of banks. Let the banks fail. Let the government directly create money. We don’t need the Too-Big-To-Fail banks.