97% Owned

Explains the introduction and impact of Britain and The USA adopting Fractional Reserve Banking System.

Wasn't an easy watch, I couldn't think clearly, so I will likely have to revisit. Sheds light on how debt and money creation works, and feeds on the fact that money is now mostly paperless. It is put together in a way that leads the mind to think of conspiracies, yet that's natural since whatever we consider could be considered by ones with access as well. As with most documentaries there has to be an allure, a selling point, and this is no different albeit lays down many facts the average person wouldn't normally think about. Maybe I will check out the book that it's largely based on which is listed near the end.

The documentary focuses on money, and how it's made, and the economic and social repurcussions of the process and how banks are exploiting this process for profit.

In fact, it seems the writers and even the people interviewed during this documentary have really no idea of how finance and the economy works... at all. Clearly the directors showed only one side of the story, so it is not without bias that they are getting their point across and luring viewers with the idea that it is all an evil and corrupt system. I'm not questioning whether or not the system is corrupt, or outdated in policies and processes, but the fact of the matter is that the information given in this documentary is incorrect about the money system.

Viewers, be advised to do your own research before considering this the de facto exposé of the money system.

This is a very informative and powerful flick about the nature of our monetary system and how it came to be. It explains that most money is created basically out of thin air and that money is debt. Most people think that banks lend money out of deposits but in fact every time a bank lends money to you it creates that money out of nothing and creates your debt to them at the same time. Similarly, Government spending isn't funded by tax receipts, it occurs electronically and taxes just exist to reduce inflation. This film explains that austerity is a failed policy and criticises asset speculation such as on property and during the tulip fever and it does a good job doing so. One way in which it is a bit lacking though is suggestions of credible solutions - it suggests a tax on currency speculation and says that we should aim for a system where various national currencies are based of a 'basket' of different assets or based on energy consumption in kWh rather than being entirely fiat, iow based on nothing. It should really be more explicit in advocating redistributive taxes and nationalisations such as for the Bank of England and a 'quantitative easing for the people', by which I mean money should be created out of thin air and spent on, not lent to, poor individual and SMEs and more generally spent in potentially productive sectors of the economy like manufacturing, education and healthcare rather than parasitic sectors like banking (and the FIRE sector more generally).

Simple facts described in a plain and simple manner : the building stone of economy is how money is created. And, most importantly, debt is explained : that there is no economy w/out debt. Debt is core. It's all about the control of debt, and who "owns" debts.

As is, debt is as important a concept, as creation of money is. And this is not at all about some 3% of coin & paper money in the system, it's essentially about some 97++% of 'virtual' money being send back and fro. And about a specific type of money that only exsists and can be used with, for instance, the Bank of England -- and nowhere else.

A complicated system which evolved from simple facts when law decided to forbid private banks to issue their own paper & coin money in the 19th century.

But then somehow, and it's not a mystery, private banks still keep on issuing money (tho not their own paper & coin notes)

and that is, in essence, what this doumentary is about : the how, when and why.

A must watch, to be honest and a 10-star docu if only the female narrator's voice would not have been mixed in in such a shallow manner (often too hard too grasp; a pity) : it deserves a clear firm straight sound given that the documentary itself is profoundly clear.