What if there's no monetary system? And we just focus on our survival.

[pusang_iring]

It's true that most of the money supply is created out of debt. That without debt there wouldn't be any money. This is because money creation is essentially a by-product of loans due to the fractional-reserve system of banks.

BUT...a BIG BUT... debt doesn't have to be a bad thing. For example, let's say i have a really good idea for business...but i don't have a capital, so i loaned money from the bank, then ideally my business becomes very successful, i made a lot of very happy customers, then i am able to pay back the bank of the loan plus interest. Therefore, due to debt, the economy improved, wealth is created, and i made a lot of people happy. This situation would not even be possible had I not been able to borrow money to start my business. In other words, none of this would happen without the system of debt and loan. AND IN FACT, increased demand for loans is generally a good sign that the economy is strong since more projects and purchases are started because of it. Remember, more projects or purchases increases GDP.

So it amazes me how Zeitgest can take a kind of true concept then sprinkles a lot of BS in it and presents it as the most evil thing devised ever...lol

[Passport]

maski gani sa communist system naa man gihapon monetary system..

[NAN_WEN]

...aw!! goodluck to us...heheheh ^___^

[emow]

it is best to read the monetary system of the world prior to the turn of 20th century as well as the event that made the US dollar the standard reserve for most economies. The current system is very prone for manipulation and the transfer of wealth can easily be done without any person losing his physical money. The two terrible phenomenon that plagues the current monetary system, for me, are perpetual inflation and invisible transfer of value of our savings.

[Eve's Apple Project]

No Money? bangas ka..Money is the best invention man has ever made in this current Civilization. if walay kwartahay, aw try to watch the movie: "God's must be crazy". mas realistic pa to..sa movie gisulti didto nga we go to school para mo survice sa atong civilization. so unsaon man nato pag survive kung walay kwarta?kung maghunt pa ta sa atong kan-on, naa pa kaha tay time mohimo og laing butang?

[hexo]

It's true that most of the money supply is created out of debt. That without debt there wouldn't be any money. This is because money creation is essentially a by-product of loans due to the fractional-reserve system of banks.


BUT...a BIG BUT... debt doesn't have to be a bad thing. For example, let's say i have a really good idea for business...but i don't have a capital, so i loaned money from the bank, then ideally my business becomes very successful, i made a lot of very happy customers, then i am able to pay back the bank of the loan plus interest. Therefore, due to debt, the economy improved, wealth is created, and i made a lot of people happy. This situation would not even be possible had I not been able to borrow money to start my business. In other words, none of this would happen without the system of debt and loan. AND IN FACT, increased demand for loans is generally a good sign that the economy is strong since more projects and purchases are started because of it. Remember, more projects or purchases increases GDP.


So it amazes me how Zeitgest can take a kind of true concept then sprinkles a lot of BS in it and presents it as the most evil thing devised ever...lol

If you watched the whole film, then you will understand zeitgeist's premise.

I don't think Zeitgeist condemns the concept of money in an absolute sense. What they're saying is that it's no longer relevant and was an essential part of humanity's social evolution. I think they acknowledge that the monetary system helped us develop the technologies that we have today. But now we have reached a point where money is no longer necessary given our technological capacity to produce. And it has become more of a barrier to progress given how a system based on competition operates.

[<SMILE>]

makes sense
when all the transactions
even purchasing can be totally made
electronically.

[Passport]

if there is no monetary system..

then shall we work to earn credits?

[lordde]

Monetary system is very essential to control inflation and ultimately to control prices of general goods in the market.

[Eve's Apple Project]

Kung way monetary system...balik tas barter?