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Amazing video, clear cut, to the point, interesting and accessible
to the general public. My only qualm is with the solutions section, in which I feel that the gold standard has been unfairly represented, while other less workable solutions have been favored. It seems to me that the most obvious solution to a failing fiat currency would be replacement with a commodity backed currency. In choosing a commodity for this purpose it would seem logical to choose something of consistent value (rare) to the public
that is non-perishable and that requires effort to produce. This is precisely why gold has been chosen countless times thruought history. It seems to me that within a laissez-faire capitalist system the price of gold should make cornering the market rather like chasing an infinite sum. Either way, I think that the starting point should be to legalize competing currencies and simply let the people(market) decide which alternative is best.
Highest Regards,
-Nalicosh
Great video! As the above post said, it is very clear cut and informative. As someone who is fairly clueless about our economic structure I found much of this information enlightening and even found myself taking notes to research it further. I just wish as you mentioned, this information had been taught to me at a younger age so I would not have made the early mistakes of debt accruement beyond my means. I wish this video could be shown in all high school economics classes but if this were done I’m sure the folks who profit from our current system would shut it down ASAP.
You piece reminds me of the late Aaron Russo’s “Freedom to Fascism” documentary in many regards. My one major issue with it that you may be able to clear up is the solution you highlight of letting the government create it’s own money seems to be a dangerous proposition as well since it seems that sort of power in the hands of a corrupt leadership could lead quickly to fascism as well with politicians being the ones hoarding all the wealth instead of working just being the pawns of the system as we have today. All monetary systems are susceptible to greed since that is just an inherent quality in humanity but it seems a system that has a fixed monetary system (i.e. the gold standard) would hold the most checks on this since if money is hoarded the masses are starved and rise up in revolt. A crappy situation but at least one with a consequence for the hoarders as opposed to one that can be ignored by creating further fictional currency. Again, I’m no expert but that was my take on it.
I just wish your video were shorter since many people I’d love to show this to don’t have the patience for it. Best of luck in the continuing education of us growing skeptics of the “new economy” and thanks so much for your efforts to make our society a better place.
[…] Our economic position is even worse. We have continued to sell our manufacturing and service jobs to the developing world, meanwhile diluting the spending power of the American dollar to a point rapidly approaching total collapse. Rather than encourage human rights and democracy, economic globalization has had the opposite effect: regimes such as China remain as horrific and oppressive as ever, while nations like India actively enslave themselves in the new debt-based economy paradigm. […]