The Funny Truth About Debt And Money

One of my favorite sayings by humorist Will Rogers is so simple and profound that most people shrug it off.  But it is the literal, if uncomfortable truth.

A man can make a million and he is on every page in the morning. But it never tells you who gave up that million he got. You can’t get money without taking it from somebody.

~ Will Rogers.

Our monetary system is based on debt (loans)

MONEY = DEBT
then
INFINITE WEALTH = INFINITE DEBT

If we think greed is good, then so is indebtedness.  You can’t have one without the other.  And, more importantly, the creation of infinite wealth and infinite debt requires a bubble of perpetually accelerating growth, which requires the perpetual use of resources, and a perpetual supply of debtors.  But resources and debtors are finite.

When any one of those factors — growth, resources or debtors — can’t keep up with the wealth/debt demand, we hear a pop.  Then everything gets messy.  While the next bubble starts to form and then expand at an ever accelerating rate, only to eventually pop and reform, pop and …

Which brings us to the obvious fatal flaw in our current monetary system.  It is not sustainable.

And yes, we know it.  We keep seeing the evidence — the Dot-com bubble, the housing bubble.  And yet we still continue the insanity.

I recently came across the animated video below called “Money As Debt” that explains our money system, its history and the role of bankers.  I hope you will watch it.  It is guaranteed to inform, if not remind you of the shockingly “funny” truth about the debt and money system we live under. (Yes, it is 45 minutes long, but it is well worth the time.)

You know, I don’t remember being taught that MONEY = DEBT in school.  Nor do I remember being taught that bankers have virtually unlimited power to print an infinite supply of money (which requires an equally infinite supply of debt, debtors, resources and growth).  Funny how that simple equation explains so much.

As comedian George Carlin so eloquently ranted (h/t C. Della Penna):

There’s a reason.  There’s a reason for this.

There’s a reason that education sucks, and it’s the same reason it will never ever ever be fixed. It’s never going to get any better, don’t look for it. Be happy with what you’ve got. Because the owners of this country don’t want that. I’m talking about the real owners now, the big, wealthy, business interests that control all things and make the big decisions.

Forget the politicians, they’re irrelevant.

Politicians are put there to give you that idea that you have freedom of choice. You don’t. You have no choice. You have owners. They own you. They own everything. They own all the important land, they own and control the corporations, and they’ve long since bought and paid for the Senate, the Congress, the State Houses, and the City Halls. They’ve got the judges in their back pockets. And they own all the big media companies so they control just about all the news and information you get to hear.

They’ve got you by the balls.

Yep money and debt are funny stuff.  Are you laughing?

~~~

Video link to Carlin’s full rant against “The Real Owners”  warning: strong language

Related post:  No Longer Passively Accepting

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