Sunday, August 14, 2011

Why do banks make so much money?

August 7, 2011

This brief 2:52m video provides a concise way of understanding why banking, particularly central banking, is held by private interests, by people who are firmly lodged in the ruling capitalist class. Because their control over the issuance of money is so rewarding to them in terms of power and wealth, they will not give up this control easily. But, it is a necessary first step in wresting control of money away from them to understand this phenomenon.

A second step is to understand that the same people own and control our economy. This arrangement, too, must be removed from their "ownership" and control. Social enterprises (all corporations are social enterprises) must be owned and controlled by society for the benefit of all. The days of autocrats, elites, privileged segments of the population exploiting the rest of society are coming to an end. We must be prepared for this end and a new future by designing social structures to insure that societies serve the needs of everyone.

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