In this video Mike Maloney, explains how money is being created by central or national bank(s), and how the modern banking system is designed to transfer the wealth of the majority to a handful few. By explaining this, he is in fact showing us why the privatization of natural resources, pollution, the suicides of small scale farmers, urbanization, and ever-growing working hours are only going to worsen exponentially.
A word of caution: Though the analysis of Mike Maloney about the self-destructive nature of the monetary economy is noteworthy, his recommended solutions like investing in gold and silver are indeed wrongheaded. To facilitate the accumulation of those metals, to make profit from panicking people, he even runs a website.
Just like any paper currency, gold and silver has no intrinsic value; it’s value is attributed and based on mere consensus among us.
The standardization of money or currency leads to standardization of production hence consumption, standardization of work that might involve division of labour; finally resulting in a homogeneous ‘standard’ system. Such delusional and inhuman systems of transaction can be replaced by trust and gift culture. Sacred Economics authored by Charles Eisenstein is a good beginner’s guide on such possibilities of humanity. To read the book online click here
This video is episode 4 of a series of videos together named Hidden Secrets of Money.