Title: Money as Debt 2
Directed: Paul Grignon
In reaction to the 2008 credit crisis this film explains the reasons behind bank bailouts, stimulus packages, debt piled upon debt. Although, Where will it all end? How did we get into a situation where there has never been more material wealth & productivity and yet everyone is in debt to bankers. The US is now more in debt than pre 2008 credit crisis. This film aslo explores some of the options available to solve the credit crisis. The answer lies in a ancient old technique of “self issued credit”.
This self-issued credit was used as money and it was accepted based on the reputation of the owner. If he or she had a good reputation, then the credit note was widely accepted by anyone. Trust is key in this system. Under this type of system, it would essentially empower every individual to create their own money and hence create competition in currencies. moneyasdebt.net ~1:16 hr.