A day or so ago my husband suggested that I list the movie Money as Debt by Paul Grignon on my Recommended reading page. Since it is a video instead of a book, I am highlighting it here, and updating my Recommended Reading page to Recommended Reading and Viewing.
A little over three years ago I checked out a movie from our local Library. The title was Money as Debt by Paul Grignon. The pictures on the back of the DVD case were a little cheesy, but the title grabbed my attention. This was one of those instances where I was glad that I did not judge a movie by its cover.
It was one of the most eye-opening videos regarding our personal and national debt that I had seen. The great thing about it was that it took a complicated subject and made it a little easier to understand by using animation. The core of the film discussed the fractional reserve system i.e. Banks lend out more money than what they actually have on hand. Possible ramifications of such a system were explained, as well as possible solutions.
A few years back, I got into a discussion about all of the banks failing and the housing crisis during lunch at work. I told everyone about fractional reserve banking, and people did not believe me. So, I told everyone that I would bring the movie in, if they would sit and watch it during our lunch break. Within the first five minutes of the movie I would say that most everyone was absorbed in what it showed. It lead to some good discussions afterward.
If you come across this movie in your Library, video store, or an on-line resource please take the time to watch it. Then come back here and tell me what you thought.
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