I watched this the other evening, a 45 min documentary on the current banking system. It’s based on the fable written by Larry Hannigan in 1971 which explains in simple terms how the the banking system came to be and how interest is damaging the economy as it’s creating money out of nothing, hence impossible to pay back. Basically, 100 plus nothing does not equal 105. The documentary is a decent introductory economics 101 piece.
“Money is NOT a commodity, it is a system of debit-credit bookkeeping – nothing more. Banks create credit. It is a mistake to suppose that bank credit is created to any extent by the payment of money into the banks. A loan made by a bank is a clear addition to the amount of money in the community.
The issue which has swept down the centuries and which will have to be fought sooner or later is the People v. The Banks.
None of our problems will disappear until we correct the creation, supply and circulation of money. Once the money problem is solved, everything else will fall into place.” Source
Read the original fable here: http://larryhannigan.com/EarthPlus.htm