The global financial crisis forces us to ask many questions that we previously didn’t bother to think about.
- Who issues our currency?
- What’s the difference between debt-free money and debt-based money?
- Why must credit grow in order for the economy to grow?
- Can the U.S. Government debt ever be repaid?
Bill Still warned the world about the dangers of our debt-based monetary system with his classic video The Money Masters.
Now he has created an updated video called The Secret of Oz that directly addresses the financial collapse now that his predictions have come true. Our current system is based upon ever increasing debt that someday will become un-payable and the financial system will collapse when this occurs (like what happened to Iceland).
One of my favorite quotes:
“What can government do? The sad answer is under our current monetary system, nothing. It’s not going to get any better under the current system until the root cause of the problem is understood and addressed.”