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Money as Debt

Wed, 09/04/2008 - 10:09 — augustin

"Money as debt" is a convincing, powerful video explaining how dangerously ridiculous our monetary system is.

The message in it is very much aligned with the general message of O TV. At least some of the information in it should find its way to the Overshoot Documentary, and also in the wiki.

I am just unsure about one of the claims made in the movie. If money = debt (which it clearly demonstrated it is), it argues that no-debt = no-money. I am not sure about that last one. By the time people pay back their debts, they have created an alternative wealth in the form of goods and equipments which the society enjoys (at the expense of the planet!). I think we should review that assertion (no-debt = no money). In any case, it explains why our economy is completely dependent on exponential growth, which is destroying our planet.

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