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economists and a pile of nuts

This is a presentation for those concerned about
climate change, environmental destruction and social injustice.

It is my argument backed by the simplest of facts and logic that our money system is a Ponzi scheme requiring perpetually accelerating growth of debt to banks to prevent collapse in mass default. In turn, this mathematical necessity prevents "de-growth" and the creation of a conservation economy based on reduced consumption. This is a structural defect that requires fundamental change as proposed in the final chapter, elsewhere on this website and in Money as Debt 3.

Watch movie on YouTube (55:03)

CHAPTERS

Introduction 7:04

Fallacy #1
Banks lend depositors' money 5:54

Fallacy#2
Interest can't be paid because it wasn't created 2:02

Fallacy #3
Central banks and/or governments control the "money supply" 1:34

What economists believe - Fallacy #4 2:13

Recursive re-lending, my analysis 20:13

Solution - a brief introduction to Producer Credits 15:23