Monday, February 21, 2011

Money as Debt

Sounds strange? I initially thought so as $$ is commonly referred to as a medium of exchange. Although i started reading personal finance books since 2000 i have no idea how money works in the current financial system until the subprime crisis which introduced me to the fractional reserve system of banking.

How come money is not taught in schools? This is something that have puzzled me since money is critical & affects us till we 'depart'. How come we are taught pretty useless stuff like binomial theorem, calculus etc & yet nothing about managing $$? I believe ignorance is used by a minority elite in order to take advantage of others.

This video on youtube titled 'Money as Debt' is rather eye opening. After watching it twice my understanding is around 80%.

Part 1: 2 of 5
Part 1: 3 of 5
Part 1: 4 of 5
Part 1: 5 of 5

I strongly recommend watching Part 2 as well:

Part 2: 2 of 6
Part 2: 3 of 6
Part 2: 4 of 6
Part 2: 5 of 6
Part 2: 6 of 6

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