The Money Myth in TED Talk

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An excellent talk on TED about Money:

 

Jem Bendell is a professor and the owner-director of Lifeworth Consulting, providing solutions for systemic change towards sustainable development. For 16 years he has consulted with business, United Nations (UN) and civil society, while writing over 100 publications on the social responsibility of organisations.

In TEDxTransmedia he denounces the crisis in the monetary system.

“This system of money creation – as debt with interest – means that increasing economic inequality – differences between rich and poor – is a mathematical certainty.”

“The second biggest problem is environmental: Because we need more and more lending to catch up – because of all the interest – we must have more and more products and services traded and therefore we have to have more and more consumption of natural resources, otherwise the system will collapse and we’ll have defaults, recession etc.”

“All we’re doing is delaying the ultimate crash – that’s been preprogrammed by the stupid money system…”

“42 million webpages mention “financial crisis”. Guess how many of those also mention “monetary reform”! Just over hundred thousand.”

“What if journalists asked our politicians the simplest of questions: Where does money come from?

 

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  • Martin

    Check also: Bernard Lietaer – PopTech-2011 – http://bit.ly/rAVATV

  • Merlinhouse

    “This system of money creation – as debt with interest – means that increasing economic inequality – differences between rich and poor – is a mathematical certainty.”Can somebody explain why this is so? I am not disputing it, but I don’t understand why it is so.
    Thanks.

    • Felix

      It’s because most money in the uk economy is loaned out to people through private banks. This loan has an interest attached to it. Therefore almost t all money has interest attached to it. This siphons money from the borrower to the lender,in this case from the public to the banks. This also provides them with a lot of power and influence.

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