Climate change and our current banking/monetary system:

Nowadays we have FIAT currencies based on debt. Banks create money out of the thin air (actually a tiny fractional reserve is required) and then they lend it at interest. Debt impels debtors to push forward with our economic system of perpetual growth.

But wait, it gets worse, much worse. When banks create the money they create the principal of the loans, but they don’t create the money needed to repay the interests. As a result many people lose their homes, their businesses, their land. It’s like the game of the musical chairs: when the music stops, some players can’t take a seat. In the best scenario they refinance their loans as much as possible when they cannot pay, and the amount of debt grows bigger and bigger. This situation creates fear among debtors and this fear impels them to push forward with the cancerous system of perpetual growth even more, at least in nominal values (inflation is part of the outcomes).

In my opinion we need debt-free currencies and cancellation of the existing debt owed by the people at the bottom.

https://vimeo.com/12984738

#ClimateChange #banking #banks #FED #ECB #depletion #FIAT #debt #growth