Take 5 minutes to get a glimpse into what “money” is. Or more importantly, perhaps what it is not. It is not anything tangible, tradeable, saveable, transferable. “Money” has become mere numbers on a computer screen. Hundreds of trillions of these numbers have been piled onto each other, have been lent out and bet upon for more trillions, re-invested, insured against, “saved,” then more loans are extended on the idea that the many layers upon which the underlying “money” that was lent are real and that there are “assets” of some sort backing the loans, until there are innumerable layers of expectations of value resting on a minuscule amount of physical assets,…. What are the dangers? When will the monetary bubble pop? When a significant number of people and entities demand their “money,” who will actually have claim to a physical item of value, title to a property, rights to a valued service? Who will end up with nothing? What will those societal and global repercussions be?
The video is from The Money Project.