On a truly terrible day for the markets I have finally happened upon a decent description of fractional reserve banking, one of the major problems with the current financial system.
I've been an occasional follower of Positive money but while their ideas seem fairly decent their videos are terrible.
Happily the Zeitgeist Movement of all things have made a very good lecture about it.
Towards the hour mark things go off the rails slightly but it is consistently a sound analysis of a barely known issue. Their proposed solution is... less sound, being a kind of magical technical centrally planned economy. Though as the guy giving the lecture points out at the end, the current system is way more absurd than that.
Oh and in another unexpected turn arch-conservative David Frum has kinda almost paid Paul Krugman a compliment and again here. We are living in strange times.
No comments:
Post a Comment