What is money?
It is an idea. It is not real. It does not exist.
The first fifty seconds is crucial to understanding money. Watch it a few times.
The first twenty seconds, if you are really pressed for time.
Or ten seconds to get an understanding of the YouTube clip.
The word you are looking for is, fraud.
This is a massive concept to come to terms with. The Greeks are struggling with the reality of the concept, with zero understanding of why they are struggling. The rest of us are glad it is them and not us. Well, it is us too but it is more readily seen in Detroit or Greece.
Modern banking is legalised fraud. It is legal because the Government say it is. It is still fraud. One which government does very well out of. Governments can borrow, apparently, without limit forever. No loan is repaid, ever. The government debt ends up in our pension funds, as an asset. How bizarre is that?
This post should not be easy to read. The words are simple enough. The concepts are simple enough. The problem is that you already KNOW what money and banking is, which prevents you from UNDERSTANDING it.
Let me break it down for you. The Government and banks do very well indeed when the government makes banking fraud legal.
So, who suffers? Well, obviously a great many of the Greeks and the Detroit based people. Not so obvious, everybody. Well, not the top bankers or top government officials but the masses do suffer, massively.
How much does this fraud cost us?
Since the seventies computer technology, automation and robotics has grown beyond imagination. What may have cost many millions in 1970 and filled a small building with a group of technicians, just to keep it running, is now sat in my hand and is disposable.
I am an Engineer and my job involves contact with a great many other Engineers. We are in the automation business. What did require a thousand people, now requires three. We should be paid more than a rock star footballer. We aren't.
What used to take a man a week can be done on a basic computer using free software in a few seconds. Most of us should be retiring at about 35. The working week should be 2 - 3 days. Holidays should be 3 - 4 months a year. Basic transport, food, clothing, housing and heating, FREE.
When I say free, I simply mean no one in a western country need have to work for the basics. See what I wrote, seconds ago, about automation.
Legalised banking fraud is costing the average human a great deal of time, wealth, effort and they even blame us for our ever decreasing standards of living.
If you aren't effervescent with rage, you UNDERSTAND NOTHING. You probably know quite a lot and most of it is wrong. Watch the video until you UNDERSTAND it.
Critical Thought about finance and government is vital. Without it, expect to live a black and white life. With some effort, we could all be living far more satisfying lives.