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permaculture - Re: [permaculture] Fwd: Where does the "lost" money go ? can we find it and get it back ?

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  • From: Toby Hemenway <toby@patternliteracy.com>
  • To: permaculture <permaculture@lists.ibiblio.org>
  • Subject: Re: [permaculture] Fwd: Where does the "lost" money go ? can we find it and get it back ?
  • Date: Sun, 04 Jan 2009 12:50:17 -0800

Nice explanation of a complex subject, Adam. Another book I've found useful is
"The lost science of money: the mythology of money, the story of power" by Stephen A. Zarlenga. The guy definitely has some axes to grind against the Fed and the gold standard, and sometimes sounds a little bit of a nut-job, but he covers the ugly history of the banking industry very well. He shows that there is no reason for us to trust banks, brokerages, and anyone else who can create money, as they act almost exclusively in their own self-interest and always set up the show to concentrate wealth their way. He pulls out a lot of historical records that are quite incriminating.

Toby
http://patternliteracy.com



adam @ ets wrote:
Q: "Where does the "lost" money go ? can we find it and get it back?"

A: No, that particular money is gone forever.

It's worth spending a bit of time thinking about how money is created and
destroyed.

"The process by which banks create money is so simple that the mind is
repelled."
-- John Kenneth Galbraith

Money, it turns out in our system, is created from thin air. Here's how it
works:

*Money for nothing.*





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