97% Owned - Monetary reform documentary from the UK

[JohnyCanuck]

97% owned present serious research and verifiable evidence on our economic and financial system. This is the first documentary to tackle this issue from a UK-perspective and explains the inner workings of Central Banks and the Money creation process.

When money drives almost all activity on the planet, it's essential that we understand it. Yet simple questions often get overlooked, questions like; where does money come from? Who creates it? Who decides how it gets used? And what does this mean for the millions of ordinary people who suffer when the monetary, and financial system, breaks down?

See also http://www.positivemoney.org.uk/








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[JohnyCanuck]

1. If 2hrs is a bit too long to sit through a video....

The following video Problem With the Money System, the first in a series of 5 videos, is only 10 minutes long.

The other videos in the series can be accessed here: http://www.youtube.com/playlist?list=PL32339BDA75B6BFC8&feature=plcp

[dixiegrrrrl]

2. There's an app for downloading from YouTube good videos such as these

that I find helpful..I can download to watch for when I have time.

It's called Download Helper...found it at Mozilla Add ons for Forefox.

[JohnyCanuck]

3. Thanks for the tip dg

I've added it to my own Firefox add ons.

[dixiegrrrrl]

4. The Helper has a...helper..to convert files

but my Linux does not play well with it, so I just download using the "medium" option, which is mpg.4, which most U-tube files have.

[JohnyCanuck]

5. Yes, I got that conversion helper too - here's an old fashioned blog post no conversion needed.

The Planet-Sized Financial Casino That Rules Our Lives

As Positive Money argues, the means by which new money enters the system needs to be completely changed so that the banks are banned from performing this function. Money creation by the banks is as old as banking, but some new practices have appeared with the new world of banking ushered in by the Neo-Liberal orthodoxy that date only from the 1980s or later.

I wrote in a recent PM blog about how securitisation, one of the emblems of this new world of banking, should be illegal as, just for starters, it violates principles of legal contract.

But going on from that, the practice of banks’ “selling risk” through “swaps” is only made possible with securitisation. This idea that you can “sell risk” would seem absurd outside the unreal world of banking. Imagine you run a company and, like any company, you see dangers and risks to your business through changing markets, new competitors, or whatever. The solution? Let a third party carry the risk and you pay them a regular fee for doing this. Then you need have no worries and no sleepless nights

Well, of course, that is never going to happen. And it flies against all common sense, and, I would say, even against nature. You can insure against quantifiable risks like, fire or theft, but we are talking about non-quantifiable risks here. They have to stay as your risks and no one else’s. But banking does not operate according nature law. Its structures rest ultimately on a hideously distorted model of reality – but a model that enables the directing of billions into its malign machine.

Securitisation leads to swaps but then swaps lead to an even more obscene, unnatural, degenerate invention by the “masters of the universe” – “synthetic derivatives”. Don’t you love the terminology? It is designed to be off putting. A synthetic derivative is a means whereby two parties construct a contract around an asset that neither need actually own. One party pays a regular fee to the second and the second then underwrites the risk as if the first owned the asset.

http://www.positivemoney.org.uk/2012/07/the-planet-sized-financial-casino-that-rules-our-lives/

[mia]

6. Thanks for posting this.

"Investment banks are like a giant vampire squid wrapped around humanity."

[freedom fighter jh]

7. Believe they got that from Matt Taibbi nt

[JohnyCanuck]

8. According to the articles and videos from the Positive Money organization,

not just investment banks, but banks in general.

Video below of an interview with Paul Moore,former senior executive turned whistleblower at the Halifax Bank of Scotland:

Of course he is speaking specifically to the problems he saw with the British banking system, but is the US or Canadian banking system that much better? I remember a couple years ago when the bank I was dealing with in Canada was trying hard to push me into taking on what I saw as excessive and quite unnecessay amounts of debt through new loans, lines of credit, higher credit card limits etc. After watching Moore's interview above, I can better understand why.

I noticed one commentator with the handle brianmeynell left a comment at Youtube on the Moore video as follows:

Having worked for a major "Australian and New Zealand Bank" until 1994, where I saw exactly what this guy is talking about (Australia's 4 major Banks almost "imploded" in the mid '90's, and many billions of $'s were written off) I can endorse his criticisms about Banks generally. Prudent lending became a sin, and "marketing targets' became the Holy Grail. It was almost as if The Devil was running the system. I, and many like me got out, and life improved immediately. Govts need to re regulate !