Money Myths TEDx

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Forums › Finance and wealth management › Money Myths TEDx

Woolly

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#127121 30-Jul-2013 17:38

Jem Bendell at TEDxTransmedia2011 (12mins)
http://www.youtube.com/watch?v=X5uGLbV5zVo

Bit old but ties in with this, that was shown on TVNZ
http://tvnz.co.nz/seven-sharp/paying-interest-loan-never-existed-video-5336329

And this site has more info (even the bankers are coming around)
http://www.positivemoney.org.nz/

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#868767 30-Jul-2013 18:13

Please use the YouTube tag for YouTube videos. Also please remember this is a discussion forum, so at least pose a question of some kind. Bah humbug.

networkn

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#868771 30-Jul-2013 18:21

gzt: Please use the YouTube tag for YouTube videos. Also please remember this is a discussion forum, so at least pose a question of some kind. Bah humbug.

I'm glad he didn't use the tags, I hate it when videos are embedded in messages. Also I think the discussion is fairly self explanatory.

gzt

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#868800 30-Jul-2013 18:39

No it's the worst thing ever.

gzt

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#868805 30-Jul-2013 18:49

I mean it's like saying 'watch this video' with very little context about it. Without the tag it will take me a few days and a lucky moment to get around to watching it if at all.

gzt

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#868816 30-Jul-2013 19:08

I think it is true for most posts written like this. They don't seem to go very far. On the other hand maybe I just drank too much bundaberg ginger beer this evening. Time will tell.

networkn

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#868928 30-Jul-2013 21:34

I think it's no worse than posting 1 sentence at a time per post :)

His thread has a topic that gives context to his post, and his urls are captioned. Not all posts need to go 60 pages.

Perhaps you got out on the wrong side of the bed today?

JimmyH

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#869506 31-Jul-2013 19:10

I'm not sure what the point of posting all these links was. The OP doesn't say.

Yes banks create credit. That's how fractional reserve banking works, and is a fairly basis part of the economics syllabus - and has been since at least school certificate level in the 1980s. It started millennia ago, and goldsmiths etc have done it for centuries. None of this is exactly a new insight.

Unless he's trying to ginger up support to resurrect the Social Credit Party (?), it's unclear why he has posted a grab-bag of links to video clips on fractional-reserve banking without any context.

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Woolly

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#870165 1-Aug-2013 17:43

The post was to provide info that others maybe unaware of.

For those that have bank credit I hope that this would be of significant interest.

For first home buyers as well.

When you sign up for a mortgage does anyone sign on behalf of the bank?

What about student loans?

Peace.

Ragnor

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#870208 1-Aug-2013 18:56

A positive money system is an interesting conecpt but I'm not sure how having a central reserve bank guesstimate how much new money to create is actually better than the fractional reserve system.

gzt

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#870416 2-Aug-2013 06:47

I read a couple of pages from the positive money link then I started the you tube video expecting a presentation about that. The youtube video first half is about the permanent debt system, and the second half is about alternative currencies.

Also when you say "even the bankers are coming around" - what do you mean by that?

Btw, no offense intended. I'm not hostile to the concept at all.

timmmay

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#870427 2-Aug-2013 07:54

I don't like embedded videos, I can't load them at work anyway. I also think a simple link to a video is fine, though a bit of context on why it's interesting is good too.

Woolly

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#871541 4-Aug-2013 12:00

I think it's a discussion that is long overdue.

Here's a banker discussing money - IMF and ex Barclays
The video below discusses the pdf document below.
http://www.youtube.com/watch?v=YnAtHbDptj8&feature=player_embedded

IMF Working Paper - The Chicago Plan Revisited - Jaromir Benes and Michael Kumhof
http://www.positivemoney.org.nz/includes/download.aspx?ID=123421

Woolly

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#871547 4-Aug-2013 12:20

Ragnor: A positive money system is an interesting concept but I'm not sure how having a central reserve bank guesstimate how much new money to create is actually better than the fractional reserve system.

The big positive is their is no interest on top.

I'm not into religion but I think there are good reasons why no usary and debt forgiveness every 7 years and golden jubilee every 50 years was put there.

Below is a video called "How to be a crook" 8mins
https://www.youtube.com/watch?v=2oHbwdNcHbc

Ragnor

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#871789 5-Aug-2013 03:10

It sounds good on paper but having a bunch of un-elected reserve bankers guesstimate the correct level of money supply could actually be worse than the current system.

Skolink

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#871982 5-Aug-2013 12:51

Woolly:
And this site has more info (even the bankers are coming around)
http://www.positivemoney.org.nz/

This page in particular I found quite enlightening (and slightly disturbing) when pointed to it by a workmate earlier this year. It might be basic ecomonics, but I only took economics to 3rd form, and it wasn't taught. It never really occurred to me that I don't have 'money' in the bank, just a contract to that value. I'm not going to be buying gold any time soon though, at least until the mortgage is paid off!

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