This extra-ordinary documentary from Positive Money shows just how banks have hoodwinked nearly everyone – including politicians.
Click here to see how we are all 97 per cent Owned by The Banks
This is a must watch film which explains how banks have created 97% of all the money in the form of loans. This burden of debt foisted on the population has grown exponentially in just a few decades.
It has wrecked the economy. It is responsible for house prices tripling in price in real terms; it forces everyone to work harder and harder for longer and longer hours for less and less wages – just so we can all keep feeding the banks ever increasing amounts of money from our own pockets !
This explains where the banker’s bonuses of millions and millions come from to be paid to the likes of all those obnoxious bank executives like Fred Goodwin.
This well researched film explains that the reason we are in this economic mess is not that we have gone out and borrowed recklessly.
But rather it is that because banks create money it guarantees that we have to borrow all our money from banks to run the economy.
When you have a boom it is easier to borrow so people get into even more debt. This cycle continues. It get easier and easier to get into debt until some people get over indebted and then they default. They can’t pay their mortgage.
That is what happened first in sub-prime America; and it brings a wave of defaults which will ripple across the entire economy. The banks go insolvent then we’re into a financial crisis and then the banks stop lending, explains the documentary.
They were excessively lending in the boom and then they stopped lending and that makes the recession worse. People lose their jobs and then they become even more dependent on debt just to survive.
We have a system where we have to borrow in order to have an economy. We have to be in debt to the banks.
That guarantees a massive profit for the banks.