Ep. 6: THAT FILM ABOUT MONEY | James Schamus
This popped up as an ad on YouTube and for some reason I watched it instead of skipping it. Maybe it's the hat, or maybe it's his voice. In any case his presentation pushed all the right buttons. Very entertaining. The one bit I didn't quite get the first time I watched it was how debt becomes more money. It doesn't, exactly. When you borrow money to buy something, you incur a debt, but you are paying someone that money, so they now have money they didn't have, and money that was originally deposited in the bank still shows up on the books, so now the money is in two places, one real, and one based on faith. A faith based economy. Huh, imagine that.