In 1996, in a documentary called The Money Masters, we asked the question why is
America going broke. It wasn’t clear then that we were, but it is today. Now the
question is how can we get out of this mess. Foreclosures are everywhere,
unemployment is skyrocketing – and this is only the beginning. America’s economy
is on a long, slippery slope from here on. The bubble ride of debt has come to an end.
What can government do? The sad answer is – under the current monetary system
– nothing. It’s not going to get better until the root of the problem is
understood and addressed. There isn’t enough stimulus money in the entire world
to get us out of this hole. Why? Debt. The national debt is just like our
consumer debt – it’s the interest that’s killing us.
Though most people don’t realize it the government can’t just issue it’s own
money anymore. It used to be that way. The King could just issue stuff called
money. Abraham Lincoln did it to win the Civil War. No, today, in our crazy
money system, the government has to borrow our money into existence and then pay
interest on it. That’s why they call it the National Debt. All our money is
created out of debt. Politicians who focus on reducing the National Debt as an
answer probably don’t know what the National Debt really is. To reduce the
National Debt would be to reduce our money – and there’s already too little of that.
America going broke. It wasn’t clear then that we were, but it is today. Now the
question is how can we get out of this mess. Foreclosures are everywhere,
unemployment is skyrocketing – and this is only the beginning. America’s economy
is on a long, slippery slope from here on. The bubble ride of debt has come to an end.
What can government do? The sad answer is – under the current monetary system
– nothing. It’s not going to get better until the root of the problem is
understood and addressed. There isn’t enough stimulus money in the entire world
to get us out of this hole. Why? Debt. The national debt is just like our
consumer debt – it’s the interest that’s killing us.
Though most people don’t realize it the government can’t just issue it’s own
money anymore. It used to be that way. The King could just issue stuff called
money. Abraham Lincoln did it to win the Civil War. No, today, in our crazy
money system, the government has to borrow our money into existence and then pay
interest on it. That’s why they call it the National Debt. All our money is
created out of debt. Politicians who focus on reducing the National Debt as an
answer probably don’t know what the National Debt really is. To reduce the
National Debt would be to reduce our money – and there’s already too little of that.
The Secret of Oz from Hans Fleischer on Vimeo.
RSS Feed
