Financial system
| Financial system link (Religion) |
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The modern financial system is a belief system comparable to a religion and it is classed as such here since it deals with the sacred realm of economics, as Ernest Becker elucidates in chapter 2 of Escape From Evil. It is the canonical "good" of society, but solely backed by our trust in it.[1]
Official narrative
"There is no alternative" etc.
Criticism
- Full article: Fractional-reserve banking
- Full article: Fractional-reserve banking
Mike Daisy has called the modern financial system both a religion and a "cargo cult".[2] David Graeber's works, including Debt The First 5000 Years reveal the multiplicity of different economic arrangements which have prevailed throughout time.
Money creation
- Full article: Money creation
- Full article: Money creation
Money creation is not taught on business, economics or accounting courses, or subjected to discussion in commercially-controlled media.
John McMurtry estimated in 2001 that approximately 95% of money was created by private for profit corporations.
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“The key master lie is this one:- that the politically-imposed (not economically-) the politically-imposed global corporate system calling itself the "global free market", that that politically-imposed global corporate system equals the "free market" equals democracy equals a solution to poverty.”
John McMurtry (2001) [3]
References
