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Friday, October 08, 2010

Part II: How the Monetary System Really Works - Mike Maloney Addresses the International Banking Forum



Very compelling video. During closing comments after his presentation Maloney says, "Our whole monetary system borrows prosperity from the future so that we can spend it today. When we do a bailout, were borrowing more prosperity out of the future just to prop up these zombie companies and zombie banks, and what that does is that all that prosperity is owed back just like our entire currency supply of the planet is all owed back plus interest. That means our prosperity is owed back plus interest."

Related Stories: Government Spending Rises 9%, 72,000 Stimulus Payments Went to Dead People, In Foreclosure Controversy, Problems Run Deeper Than Flawed Paperwork.

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