this passage comes after a father-son dialogue that simply illustrates the process of creation of the money (debt money).
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Obviously, this dialogue simplifies the problem. Yet, as stated by JK Galbraith, Canadian economist who was an advisor to Kennedy, " the process by which banks create money is so simple that the mind resists believing . He speaks of course of the fractional reserve system (the "x times") that we have outlined here and to be quite fair, is not always objectionable in itself. This system is a tool. Before attempting to change it, see what hands using it. Alas, these hands are those of private banks, or commercial that you know to be a customer, and is central to the most powerful of them, the Fed (Federal Reserve , Central Bank of the United States States). Monetary policy makers in the world are in fact private institutions and autonomous, mostly in search of profit, and this does not come without some consequences ... Here are three.
first consequence, even for a wealthy country like France, the debt is unjust. Today in our country, "debt service (payment of principal and interest) is the second budget of expenditure of the State, after the Education and Defence before, in 2006, 40 billion euros per year. Let's see how this debt was created.
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