Thanks to Euan Semple who blogged this excellent video about the history of the banking system yesterday called Money as Debt.
I know it's a little bit off topic, but I enjoyed this so much I wanted to do more than just tag it in Delicious, so here it is for posterity. I think often we get ourselves into pickles like this because the end results are emergent from the millions of individual decisions made by investors and businessmen over time. I liked the part about Usury, explaining that several thousand years ago, charging people interest on loaned money was banned by every major religion. As we threw off these "unjustified" constraints, it has now become apparent that there are more than moral reasons that am upwardly spiralling financial system will not work long term in on a finite planet. I'll file this under "Other stuff we thought the ancients were too primitive to really understand, but we knew better".
I don't share this video to shock people or inspire fear. In fact I listened to an ASX Investor Education podcast this morning by Colin Nicholson that talked about preparing for the next bull market and I hope you will use the information in this video to make more informed, sound decisions moving forward.
The 5 Keys to Forming Any Habit
2 days ago