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With the current economic crisis the world is facing, I thought it might be nice if everyone knew how it really came about. This is 45 minutes long but by the end you will know more about the economy than 98% of people.
http://video.google.com/videoplay?do...74362583451279
I watched that last week. Having been sort of a techno geek in high school and college I never took any economics courses.
Very good video presented in laymen's terms that is easy to understand.
Everyone should see this.
scary....very scary
The video clip does give a good representation of how our money system works (world wide). Whether I agree or disagree with the video does not matter. But, what does matter, it is on the edge of a political statement and an inclination of how our money system should be run.
PLEASE take it for what it's worth and let it go with that. There is tons and tons of informative web-sites related to this subject available. Draw your own conclusions.
This is a World-Wide problem.
Please be advised if this thread turns into a political debate which does not belong here, I will remove it.
Matt Olieman
I didn't see this as having anything to do with politics Matt.
Just some basic economic information about banking and finance.
Matt,
I realize that at this time every 4 years that nearly anything can be construed as political and it was never my intention for that to be so, however, as basic as it is, it still shows the most accurate picture of the world monetary system that most will ever have seen. If learning this should cause them to get into politics on one level or another, then I would consider that they have been enriched to some level and hopefully they will utilize it for the common good one way or another.
Either way, I thought it something that while not about flying, does affect us deeply and therefore our hobby. Hence my posting it in the 'open' section of the forum.
Thanks that was very informative. I never even thought thats how lending was done or how money was created. I will defintly look up some more info on this subject.