As residents of the Eurozone are all too aware these days, and others around the world are gradually beginning to understand, large, centrally-administered monetary unions may be the dream of the central banksters and the technocrats, but are a colossal failure in meeting the needs of ordinary citizens.
As we examined on the program last week, the standard monetary paradigm of the developed western world relies on central bank administered fiat money created as debt-based instruments owed back, at interest, the very bankers who are given the privilege of creating this money out of nothing. With a literal license to print money, and to direct that money into those sectors of the economy they see fit by approving or denying credit to businesses and industries on a whim, it is not difficult to see how this system benefits the banksters first and foremost.
In this second episode of our new series on ‘Money’ James Corbett explores alternative currency solution(s), and digs into questions such as what happens when currency begins to fail, and must the public merely wait for the inevitable collapse, and then submit to whatever new monetary paradigm the banksters create from the ashes of the old order.
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*The Transcript for this video is available at Corbett Report: Click Here