My wife's uncle was the president of the local bank, when he retired several years ago he and I would visit a bunch and over a period of three years he showed me how it all works. After he gave me the foundation of my education on money I then started doing more research as the internet came about. The biggest problem for the normal person is that they are never taught about "money" or what we call money in school. Everything people learn about money and how it works for the most part is from watching from a young age on how financial transactions take place in the homes with their parents. The Rockefeller family set up an education foundation years ago that ended up leading to the department of education, they made sure that the true workings of the central bank and banks in general would not be disclosed and they put a lot of money and energy into it for good reason. Ignorant people are easy to take advantage of and bankers and government know this very well.
So that's my story, how about you? How did you get started on this area of inquiry?
I was living in Japan in 2011 when we had the earthquake/tsunami/nuclear disasters and took 6 months off work to dedicate myself to the relief and recovery efforts. When people were coming up with ideas on how to revitalise the economy in the affected region, they just wanted to recreate the same old recessionary model that they had before. I thought they needed something more sustainable, so I began reading about sustainability.
I came across a series of videos by Chris Martinson which talked about economy, energy and environment and how they're all interlinked. In the economy section he talked about money creation, but it turned out later that everything he said was incorrect. I read about the Austrian School of economics and, while they get a lot right, their explanation of the money system was based on the old fixed exchange rate model and didn't explain the modern system correctly. As I looked around for more information, I found the videos made by Positive Money and they gave a much better explanation of how banks create money.
On message boards, people said that I should look into MMT, which I did. They give an amazing explanation of how the money system works on the government side, which is extremely important for understanding the root causes of so many of the problems we have today.
I became the head of Fair Money Australia and made it my business to talk to people who work for banks, central banks (not just in Australia) and various government departments and offices. It's obvious to me that no one has ever asked them how things work because the answers are right there. If you ask, they will tell you. And it's obvious that they only know their part of the big picture and make mistakes about the other parts, which leads to problems. Big problems!
A good and accurate education about money is lacking for most people in the USA, I love when I cash a check at the bank and the teller will ask,"how would like that back?" I tell the in U S dollars. Then when they give me Federal Reserve notes I say "it seems you have made a mistake, I asked for U S dollars." They have no clue, so I explain that if they are going to work in a financial establishment like a bank it would serve them well to learn the difference between dollars and notes.
How did you come to learn about it in the first place?
My wife's uncle was the president of the local bank, when he retired several years ago he and I would visit a bunch and over a period of three years he showed me how it all works. After he gave me the foundation of my education on money I then started doing more research as the internet came about. The biggest problem for the normal person is that they are never taught about "money" or what we call money in school. Everything people learn about money and how it works for the most part is from watching from a young age on how financial transactions take place in the homes with their parents. The Rockefeller family set up an education foundation years ago that ended up leading to the department of education, they made sure that the true workings of the central bank and banks in general would not be disclosed and they put a lot of money and energy into it for good reason. Ignorant people are easy to take advantage of and bankers and government know this very well.
So that's my story, how about you? How did you get started on this area of inquiry?
I was living in Japan in 2011 when we had the earthquake/tsunami/nuclear disasters and took 6 months off work to dedicate myself to the relief and recovery efforts. When people were coming up with ideas on how to revitalise the economy in the affected region, they just wanted to recreate the same old recessionary model that they had before. I thought they needed something more sustainable, so I began reading about sustainability.
I came across a series of videos by Chris Martinson which talked about economy, energy and environment and how they're all interlinked. In the economy section he talked about money creation, but it turned out later that everything he said was incorrect. I read about the Austrian School of economics and, while they get a lot right, their explanation of the money system was based on the old fixed exchange rate model and didn't explain the modern system correctly. As I looked around for more information, I found the videos made by Positive Money and they gave a much better explanation of how banks create money.
On message boards, people said that I should look into MMT, which I did. They give an amazing explanation of how the money system works on the government side, which is extremely important for understanding the root causes of so many of the problems we have today.
I became the head of Fair Money Australia and made it my business to talk to people who work for banks, central banks (not just in Australia) and various government departments and offices. It's obvious to me that no one has ever asked them how things work because the answers are right there. If you ask, they will tell you. And it's obvious that they only know their part of the big picture and make mistakes about the other parts, which leads to problems. Big problems!
A good and accurate education about money is lacking for most people in the USA, I love when I cash a check at the bank and the teller will ask,"how would like that back?" I tell the in U S dollars. Then when they give me Federal Reserve notes I say "it seems you have made a mistake, I asked for U S dollars." They have no clue, so I explain that if they are going to work in a financial establishment like a bank it would serve them well to learn the difference between dollars and notes.