12 Aug 2012
By James Smith
Fiat money is explained nicely in this YouTube video. Easy to understand and easy to follow.
Knowing how something works helps knowing why something is broken. And our financial sector is BROKEN!
From the video description:
What is Fiat money, how does it relate to the federal reserve, and more importantly, how does it affect YOU?. These questions and more are answered in this short clip.
Despite every effort by governments, the gap between rich and poor continues to grow. It is now the biggest it has even been in history. All sorts of reasons for this have been proffered, but few, however, seem to realize that is a simple, inevitable consequence of our system of money and credit.