September 3, 2011 1 Comment
I watched this documentary ‘Money as Debt’ by Paul Grignon today.It uses attractive animation to explain fractional reserve banking.And I can say that for the first time in my life I got to appreciate how humanity has managed to create the mountain of debt we have piled up.I always sensed that banks created money but only now I have a grasp of just how much.
I rate this video as pretty good .It’s a bit theoretical but not too off putting all the same.I can’t say I was able to understand all the implications of everything I watched but I do know my brain will keep revisiting the ideas I could not grasp at the first go.So this movie will have managed to expand my mind a bit.
I can’t say I agree with the film maker’s idea of a world which will run out of resources to sustain growth because I believe that human ingenuity will just find new uses for materials and waste materials we do not consider resources today. Read more of this post