Awesome Video Explaining Currency System

Discussion in 'Politics' started by Ktmsmoker, Nov 19, 2011.

  1. This was good
  2. It explains the functioning of fiat currency rather well, but I don't know that it fully elaborates on the role of central banks.

    Central banks print the currency as a debt bearing interest to nation states, ie. every single usd/gbp/euro/etc printed is a debt with interest owed to the central banks.
  3. Ya I got 30 seconds in and got confused...
  4. ^ Govt uses force of law to make you accept paper currency with no inherit value other then faith in said government.

    This faith is abused throughout history time and time again, as the currency continuously loses value in the long term, encouraging the individual to borrow beyond their means rather then save their money.

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