Reaction on 97% Owned Documentary Film

Reaction on 97% Owned Documentary Film

This is a reaction on the Economic Truth Documentary film entitled “97% Owned”. The film is all about how the Monetary System works in the world’s economy. It tackles mainly about economic crisis and likens this crisis to as the sickness called “Cancer”. For it is the monetary system that provides the foundations for international dominance and national control, nations have been entangled to economic warfare. And it is also the start of the problems in the economy. But, economists have a solution to these problems, and this solution is the International Currency Reform.

In the film, people have been rallying about public budget cuts and sudden increase in the mortgages of houses. It is said that the wealthier the economy is, the more debt it has to pay. But obviously, the government and the rich people doesn’t pay for it because who’s really affected to this are the people who only get a job payment of less than the medium pay, and this makes them poorer and poorer. The government cannot allow the banking system to fail because if it did, over 97% of all money would disappear. This is why in the event of a crisis the risk is transferred to the taxpayer and they’ll have to pay for it in order to continue on living.

Moreover, even if governments have control of the budget, they cannot control the production of money by private banks. The creation of money by private banks for non-productive usage causes real inflation and as such it is a tax on the purchasing power of the medium of exchange. The governments have another option, and it is to privatize more industries. Because as more of the country's resources and industries are privatized, the private sector takes on more debt. As a result, more money is created and there is a boom in the country’s economy.

There’s a lot I could not understand on how money was created and how it became real and being used nowadays, but it’s been cleared out by the film. I have known that currently, we 97% of digital...

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