Episode 213 - The Money System - Creation, Control, and Crisis

This YouTube transcript discusses the mechanics of the global monetary system, arguing that the system is inherently unstable due to the creation of money as debt by private banks. The speaker contends this process concentrates wealth, leading to boom-and-bust cycles and exacerbating inequality. The video critiques the lack of democratic control over money creation and suggests alternative systems based on commodities or a basket of currencies. It also explores the historical context of monetary systems, including the Bretton Woods agreement and the subsequent shift to a fiat currency system. Finally, it examines the impact of this system on national and international levels, including the role of speculative investment and currency wars.


Source :

Moconomy

YouTube Channel