Fake Money

Hi, Mr. Tan,

I have been taking about fake money very often in your blog, but I suspect not many people understand me..

Below is a link to an instructive cartoon about the fractional reserve banking system

> how it creates money out of thin air
> how it skews the wealth distribution, making the bankers richer and richer over time
> why this system is a ponzi scheme and will eventually collapse

http://video.google.com/videoplay?docid=-9050474362583451279

After watching the video, people should realise nearly all money is actually fake, created out of debt.. and we will need more and more fake money to keep the economy going (exactly like a ponzi scheme)..

When the amount of debt gets too big and balks at creating more fake money, the system will collapse and cause a severe recession/depression.

I believe we are really close to this point of collapse now.... and we should welcome the collapse and take the chance to adopt a different banking system, one where is sustainable and money not controlled by bankers/central bankers.. one such system is a free banking system proposed by most Austrian economists.. but which government is willing to give up the power to create money?

ym