A Simple Solution to the Debt Crisis - Positive Money
www.positivemoney.org.uk - Have you ever wondered why there's so much debt? Or why the experts and authorities seem completely unable to solve the current debt crisis? Well the reason they can't solve it is because they're trying to fix and repair the existing banking system. But the existing banking system is completely flawed. It's the existing system that has buried all of us under a massive mountain of debt. In the next 3 minutes I'll show you how the design of the banking system guarantees that the vast majority of people will end up in debt, and why allowing the banks to go back to business as usual would be the worst thing for the economy and for society as a whole. But first, where do you think all this debt came from? Many people would assume that a bank needs to get money from a saver before it can make a loan to a borrower - after all, isn't that what banks do? Taking money from people who want to save it, and lending it to businesses and people who need to borrow? Well, Not exactly. Here's a fact that not many people know. A bank doesn't actually need to have any real money before it can make a loan to someone. When you take out a mortgage from the bank, the bank doesn't take that money from somebody's grandma's life savings. No. Instead, they simply open up a computer, and type some numbers into your account. You get a huge wad of money in your account, and you also get a huge wad of debt that you'll be repaying over the next 25 years. But the money that you <b>...</b>
debt crisis money as debt money creation banking reform positive money Positive Money UK
