Are these videos somewhat accurate

[LibForestPaul]

I want to send them to others...

YouTube - Money As Debt (1 of 5)

YouTube - Money As Debt (2 of 5)

YouTube - Money As Debt (3 of 5)

YouTube - Money As Debt - 4-5

About the only thing that was glossed over was inflation in current banking system.His proponing interest free money by government also seems suspicious.

 

[Original_Intent]

I like them. I disagree with their proposed solutions iirc, but it is a good explanation on the creation of money, and the history of money.

 

[Kludge]

I prefer Mises' take on it...

http://mises.org:88/Fed

 

[stag15]

deleted

 

[devil21]

On video 3, my friend argues that the reason we can pay off the interest is because the debt is backed by assets. I argued with him for almost an hour on this, but he says that if assets are produced at a greater speed than the interest on the money borrowed, then production pays back the interest.

But interest itself is money that doesn't actually exist. Since there is interest already built into every dollar created by the Fed, as well as interest created by the banks, interest is always above and beyond the total money supply. You can pay off a loan with interest but the money that you used to pay the interest came from somewhere else. It wasn't created to pay interest. The production he speaks of just took existing money from somewhere else too.

 

[boberino]

I prefer Mises' take on it...

http://mises.org:88/Fed

Rothbard*

 

[Kludge]

Rothbard*

Hehe, sorry. You're right. I was referring to it being on the Mises website.