Money As Debt – Paul Grignon
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.
Do watch the movie.The links are below.Tell me what you think.I’d love to hear about it.