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The world economy is doomed to spiral downwards until we do 2 things:
outlaw government borrowing;
2. outlaw fractional reserve lending. Banks should only be allowed to lend out money they actually have and nations do not have to run up a "National Debt".
Remember: It's not what backs the money, it's who controls its quantity.
outlaw government borrowing;
2. outlaw fractional reserve lending. Banks should only be allowed to lend out money they actually have and nations do not have to run up a "National Debt".
Remember: It's not what backs the money, it's who controls its quantity.
This version finally cuts several bogus quotes which have festered in the monetary reform literature for decades.
http://www.youtube.com/watch?v=swkq2E8mswI

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