Ben Dyson - Why Our Monetary System Is Broken and How It Can Be Fixed (danske undertekster)

[@mrjonno]

Good presentation. To be fair though Peter Joseph of The Zeitgeist Movement had explained the function of money as debt and the functions of interest meaning that there will never be enough money in circulation to pay down any debt and leveraging government bonds as fractional reserve banking to further exacerbate debt issues. All of his videos explaining this including the original 'The Zeitgeist Movie' can be viewed on YT TZM and PM are collaborating. This is a good thing as both movements have good ideas to bring to the table. I totally agree that banking is totally out of hand but there is a potential that spreading this spending power across all individuals will create a bigger drain on resources and add to climate change when we need to be reducing waste and carbon emissions. Ideally we need to achieve the 'Resource Based Economy' but this is not going to happen overnight, there has to be a transition and this is where I see 'Positive Money' working. If we are to have money we need fair taxation too in order to help pay for the public services we use. Richard Murphy has written extensively on this in his book 'The Joy of Tax'. I'll keep plodding away at explaining the issues but I'm not hopeful that global society will make the changes it needs until we have gone too far.

[@chickee2551]

I just saw "97% Owned" last night and it was such an eye-opener. I've been a financial literacy advocate for 6 years now and I can't believe I'm just learning about this money system now. I thought I've dug deep enough to understand how money works, I was wrong. But with the knowledge that I have now, my question is - How can we as individuals contribute to the solution of the problem? How can we affect change? What are the concrete steps we can take? ex. Is it better to put our money in rural/community banks/credit unions instead? Should we take our investments from financial vehicles (stocks, bonds) and invest it in local businesses instead? and so on..

[@Onkarr]

trying to spark the minds of people to question where money actually comes from and how its made regulated and destroyed etc

[@v1nAyA]

If you study the ancient Indian economy. You'll see there was both Govt spending and Citizen dividend. They used various metals or commodities like Gold and Cow for example to create such tokens. Please study the ancient Indian economy.

[@diamondmonkey70]

USURY - This needs to be outlawed. It is forbidden in the sacred texts for a reason.....

[@bennconner1195]

And we all know how created and promoted usury around the world. The very same people Christ expelled from the 2nd temple, because they were practicing this same parasitic practice.

[@v1nAyA]

If you study the ancient Indian economy. You'll see there was both Govt spending and Citizen dividend. They used various metals or commodities like Gold and Cow for example to create such tokens. Please study the ancient Indian economy.

[@SnoopyKautezky]

condense the video, do a summary of it, 9min max and translate it, make it viral, create memes. you guys need some PR! You have to spread this...seriously dont just sit on it.

[@nthperson]

There is no silver bullet we can apply to impose discipline on those who make decisions running financial institutions. That said, there is one very basic reform that will certainly help: financial institutions must be prohibited from creating money. This should be the function of government only (and this does not mean allowing central banks to create monetary units out of thin air, then lending this new money to government at interest). Early in my professional life I managed the residential mortgage lending program for a commercial bank. When I started in this position, the bank had no written accounting procedures to govern the department. So, I created an accounting manual. At that time, whenever we booked a new loan receivable the offsetting credit entry was against the bank's cash on hand. It never occurred to me that my bank might be able to make loans to people or entities without having the cash on hand to do so, or raising the cash in the credit markets or by other means. When a bank is established, law requires the owner/investors raise cash as the initial financial capital. The bank uses this cash to hire staff, acquire facilities and cover other initial expenses. If incorporated, the bank can issue and offer shares of stock for sale to raise additional cash. The bank can also issue bonds (i.e., take on debt). And, serving as an intermediary, taken in deposits from people who desire to establish checking and/or savings accounts. These should be the only lawful sources of funds for investment or lending activities.

[@DavidFilskov]

VERY thought-provoking talk. Which money system do YOU think is fair?

[@brain04723]

great talk. thank you

[@lk-music]

I didn't quite follow the part where paying debts destroys money. Doesn't the interest go into the banker's pockets? So the imaginary capital for the loan might be destroyed, but my mortgage total repayment is essentially double the original loan.

[@bennconner1195]

This guy seems to be a bit of a lefty, but it was actually traditional Conservatives that used to champion these monetary and banking reforms.