On his great geopolitical blog, Complex System of Pipes, “Dave on Fire” points out the great animated video [watch below] by Paul Grignon that describes how our monetary system works and where our money comes from — hint, its not the mint or even government fiat.
The video is 47 minutes long but engagingly flies through the history and future of our monetary policy in a way that doesn’t drag at all. While the video makes a few policy recommendations it doesn’t seem to do too much editorializing. If the description in the video of our monetary system is accurate, then the implications both for how we view our world and where we are headed in the future are immense.
- Money As Debt website
- Money As Debt on Google Video
If you find this sort of thing interesting, I recommend reading more of Complex System of Pipes. Dave on Fire does a great job of teasing apart many of the complex interrelationships between global politics and global economics.
Very interesting, and more than a tad disturbing too. This, or something similar, should be required intro econ course material. Too often, we focus only on how to succeed in the current system and fail to question its foundation.
Note that this video apparently gets one part incorrect, which is cleared up in this article: