The UK group Positive Money explains in this video how our debt-based, private bank system has created the money supply problem we face. While PBI advocates for a different solution, we agree on the condition: The money system we are enduring is broken.
“More than 97 percent of all the money in our economy is created by banks when they make loans. Most of this money goes into house price bubbles and gambling on financial markets. This has led to ever-widening inequality, the highest personal debt in history, and house prices that very few people can afford, before even mentioning the financial crisis.”
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