I’ve seen “Money as Debt”. The description of the mechanics of money creation is accurate, but the “And this is bad” part is rather nuts. (The part where they say that bankers will own everything because they charge interest fails logic forever; money lenders spend the money they receive as interest, so their share of wealth isn’t destined to increase to 100%.)
The detailed claims in the video are dubious, but the broad scenario of somehow installing a mechanism in in our civilization that steers us toward exponential growth of a sort that the earth cannot support seems like a legitimate existential risk to me.
I’ve seen “Money as Debt”. The description of the mechanics of money creation is accurate, but the “And this is bad” part is rather nuts. (The part where they say that bankers will own everything because they charge interest fails logic forever; money lenders spend the money they receive as interest, so their share of wealth isn’t destined to increase to 100%.)
The detailed claims in the video are dubious, but the broad scenario of somehow installing a mechanism in in our civilization that steers us toward exponential growth of a sort that the earth cannot support seems like a legitimate existential risk to me.