GoldSilver
5 HN recommenders · recommended in 6 months, 2014–2023
29:35 · 11M views · Oct 15, 2013
Episode 4 of Mike Maloney's Hidden Secrets of Money, explaining how currency is created through a chain of IOUs among the Treasury, banks and the Federal Reserve. It covers bonds, Fed checks, debt, taxes and fractional reserve lending, from a gold-and-silver advocate's viewpoint.
Recommended, often in Bitcoin and monetary threads, as a clear introduction to how the US money system works, though it comes with a strong goldbug slant.
9 comments from Hacker News
> Cryptocurrency is the digitally woke techbro’s ponzi scheme The fiat monetary system is a ponzi scheme. Watch "Hidden Secrets of Money": this video I also recommend doing your own research after this. The evidence is clear and overwhelming. Cryptocurrency is merely a response to this scam and its continued success helped to further prove that the financial system is a scam. Even if you assumed that cryptocurrency is a scam, what kind of financial system enables a scam to thrive for 10+ years? In such a system, how can you tell the scams apart from the non-scams? Clearly the so-called 'free markets' are not capable of distinguishing the two. What's to say that most big tech corporations aren't scams? They get a lot of 'free money' from the government through massive contracts to build projects which only add more bureaucracy.
This is the best explanation I've ever seen of how the Fed and US Dollar money printing actually works: this video Most people also don't realize that the Fed, which buys Treasury's drawn on a bank account with $0 in it, is privately owned - and distributes dividends to its private shareholders holders (who are not disclosed).
You don't understand that what we call "money" today its a scam: this video BTC will create prosperity we can not even dream of
I recommend reading up on monetary policy and the Federal reserve (and watch videos) and you will understand what I mean and how it fits into Annand's description of the world (it compounds the problem). It's a lot worse than you think. I recommend also doing your own research to verify all the facts. I had a hard time believing some of the facts presented but all checked out so far. Hidden Secrets of Money: this video An interesting recent discussion I found which discusses the current state of the economy: [LINK] Actually the second one is eye-opening for anyone who wants to make sense of the current situation.
To understand what debt-free money is (and to address how the US money system currently works), I'd recommend this video: this video Please note that although there are a couple of subtle hints in the video about returning to the gold standard, the video can still be of use as a general introduction into the US money system even if you don't think that's a good idea (I don't think it's a good idea to go back to the gold standard). Hope the video can be useful for you, I know I found it useful. Feel free to ask me any questions about debt-free money (and how it could be implemented) after watching the video.