Money as Debt?
http://video.google.com/videoplay?docid=...
Any expert who would like to comment on this, to check if the claim is valid?
Answer:
i just finished watching the whole video, and it was a very interesting concept!
The video is correct about its claims, but the tite is a little misleading. Money isn't necessarily the debt, its just what represents the debt. The loans are the debt.
For instance, if you were to never take out a loan, and just rely on the money you made, and keep that money under your mattress (i.e. never earn or have to pay back interest) then no more debt would be created. But living in the world that we do, that is not practical and thus the video gives a simplified version of what is happening.
Glad you posted your question, very interesting! While the ideas are true, its a little misleading, but interesting none-the-less!
Stuff is too expensive today.
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