Part 2: An independent movie on the question "Where does money come from?" already has had a huge two year success with well over 2 million viewers on the internet. Now it is seeing another surge of interest because it also explains some of the underpinnings of the current financial crisis.
Money as Debt by the Canadian Paul Grignon makes the case that only a small part of our money is created by the government mint that prints or coins it. The vast majority of money is created by banks whenever a loan or mortgage is made. Banks, which are private institutions, are given enormous power to make and manage money and it is well worth today, in light of the crash of so many banks, to look at the monetary system.
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The web site of the film is: http://www.moneyasdebt.net
Source: TUC Radio
Aired: 3/4/09 12:20 AM
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