Quote Originally Posted by pusang_iring View Post
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
Naive!! if you read books about how money is created such as " Modern Money Mechanics, The case against the Fed by Murray Rothbard, the Creature From Jekyll Island by G. Edward - G. Edward Griffin ,The secrets of the federal reserve
The London Connection By Eustace Mullins, WEB OF DEBT The Shocking Truth About Our Money System and How We Can Break Free by Ellen Hodgson Bornwn, J.D , " Im sure you will find it interesting unlike other political and economic books we can see at our offline book stores in the country , are not available because books are pre-filtered by these private establishments to maintain the status quo for their vested interest it perpetuates.

I'm recommending you to read and understand thoroughly before you post a bunch of garbage notions, so primitive!!
Modern money mechanic's link: http://theiceblog.files.wordpress.co...-mechanics.pdf
You can read it for free.
You have to understand and re-examine how the Federal Reserve works.
Federal Reserve System is not the only private institution that manipulates our economic system. Banks use a process called “fractional reserve banking” which enables them to loan more than they have on deposit to cover the loans. They then charge interest on money they don’t have. Through this process, banks lend out at least ten times more than they have on reserve, which reduces the value of money and leads to inflation. It is no wonder the newest and biggest buildings in cities belong to banks. If we behaved like banks, we would be charged with fraud. MOreover, private money lenders understood early on the overwhelming benefits of lending money to nations at war when the paybacks were assured by the taxing of their people. This was much more profitable than lending to individuals. Financial interests and corporations instigate wars and other disruptions to this day. In other words, established system only works when resources are scarce that a monetary or barter system can function. Superficially, you quoted " due to debt, the economy improved, wealth is created, and i made a lot of people happy" which is clearly the reason that perpetuates social stratification and elitism. Whenever money is involved, there is elitism. Those who control purchasing power
have far greater influence. So, Does this make people happy? tsk.. tsk..


In monetary system, we can't expect anybody to be ethical at each other. We create problem for profit not for the well-being of the humanity and environment. We maximize profit regardless of environmental cause.
Our main problem is a lack of understanding of what it means to be human and that we are not separate from nature. Our values, beliefs, and behaviour are as much a part of natural law as any other process. WE ARE ALL AN INTEGRAL PART OF THE CHAIN OF LIFE."

To fully understand what's bothering you and see the big picture of this whole system, you can also read this book by jacque fresco entitled The Best that money can't buy
http://dl.thezeitgeistmovement.ru/Th...y-Cant-Buy.pdf , after reading let's put it to table to answer your questions.