Wednesday, September 30, 2009

Ron Paul explains why the Fed must end

Impressive: a US Congressman sticks his neck out and claims the need to put an end to the Fed. As everybody knows (well, maybe not everybody but certainly many people), money is created out of debt, reason why when Central Banks produce the money and borrow it to governments, make government increase their debt towards banks.

Our monetary system is created in a way that makes public debt natural and impossible to pay off. If governments are in debt, populations are in debt and, as we well know, banks live out of debt, through interests and always higher rates.

I think this video is worth watching and the subject needs to be analysed in greater depth.

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