Loading ...The Truth About Money – A Documentary
A Cobden Centre documentary film that was premiered in the UK Parliament by Lord Daniel Hannan – exposes the fundamental flaws at the heart of our monetary system that drive many of the biggest economic and political problems of our time: soaring house prices, rising inequality, inflation and the increased cost of living, and unsustainable debt. How did we get here and more crucially, how do we solve it?
In the UK Parliament, alongside the premiere of Ex Nihilo: The Truth About Money, the Honest Money Initiative was launched to campaign for a fairer monetary system.
A UK Documentary Film from The Cobden Centre – (1:02:11)
Of course, we at The Tent know all this. This video should be forwarded to those who do not understand the nature of our fiat currency system.
Send the video along to friends, significant others, family.
Knowledge is Power.
Yes this is a must
But most do not want to know their whole life is based on a lie
“more crucially, how do we solve it?”
Its late and I have no time to watch … what does he suggest?
Denninger years ago proposed reconsidering The Chicago Plan
In the early 1930s, economists Henry Simons and Frank Knight of the University of Chicago and Irving Fisher of Yale identified what they claimed was the essential flaw of modern banking. The trouble was that banks perform two functions. They supply credit and, in the process of making loans, create money. They do all this with sizeable amounts of leverage. As a result, the banking system is inherently unstable. During boom times, banks unleash too much credit and inflation takes off. In a bust, bank lending suddenly stops, the money supply begins to contract, and deflation appears.
https://www.imf.org/external/pubs/ft/wp/2012/wp12202.PDF
https://blogs.lse.ac.uk/usappblog/2013/11/25/chicago-plan-revisited/
https://www.reuters.com/breakingviews/global-markets-breakingviews-2023-04-28/
https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1080&context=ami
The Reuters piece is by Edward Chancellor, author of Devil Take the Hindmost. (A great book on market bubbles.)
Bssic thrust TODAY is to transfer the power to create debt money from banks to governments using CBDCs. We know where this goes, and that problem is not discussed.
>>… what does he suggest?<<
I don't think it matters what they or anyone else suggest. The governments are unlikely to give up the power to create currency out of thin air.
We already know what is likely to happen. Global debt levels are in the stratosphere, 300 trillion dollars. The banks will tighten until the economy is crushed under the weight of debt. The economy will crash, the central banks will re-inflate, inflation will soar.
My take: threat of global deflationary depression, followed by an inflationary blow off. Danger of a hyperinflation. For comic relief you can throw a major war into the mix, possible WW3 (not necessarily nuclear)
It's a damn shame what the world's gotten to
For people like me and people like you
Wish I could just wake up and it not be true
But it is, oh it is. – Oliver Anthony – from Rich Men North of Richmond
On a positive note, it has got to work out OK in the end. I don't know how, it just does.