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The IOU Machine: How Currency Is Created | Hidden Secrets of Money Ep. 4

GoldSilver · 11.1M views · 2013-10-15 · 29:35

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Overview

Episode 4 of Mike Maloney's Hidden Secrets of Money, explaining how currency is created through a chain of IOUs among the Treasury, banks and the Federal Reserve. It covers bonds, Fed checks, debt, taxes and fractional reserve lending, from a gold-and-silver advocate's viewpoint.

On Hacker News

Recommended, often in Bitcoin and monetary threads, as a clear introduction to how the US money system works, though it comes with a strong goldbug slant.

Recommended by 5 HN people across 5 months · HN mentions 2014–2023

Topics

Macroeconomics & financial crisesInvesting & personal finance
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federal reservefractional reservefiat currencydebtgold

What people said

jondubois · 2020-09 · Strong recommendation

> Cryptocurrency is the digitally woke techbro’s ponzi scheme The fiat monetary system is a ponzi scheme. Watch "Hidden Secrets of Money": [VIDEO] I also recommend doing your own research after this. The evidence is clear and overwhelming. Cryptocurrency is merely a response to this scam and its continued success helped to further prove that the financial system is a scam. Even if you assumed that cryptocurrency is a scam, what kind of financial system enables a scam to thrive for 10+ years? In such a system, how can you tell the scams apart from the non-scams? Clearly the so-called 'free markets' are not capable of distinguishing the two. What's to say that most big tech corporations aren't scams? They get a lot of 'free money' from the government through massive contracts to build projects which only add more bureaucracy.

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mrnobody_67 · 2020-03 · Strong recommendation

This is the best explanation I've ever seen of how the Fed and US Dollar money printing actually works: [VIDEO] Most people also don't realize that the Fed, which buys Treasury's drawn on a bank account with $0 in it, is privately owned - and distributes dividends to its private shareholders holders (who are not disclosed).

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jcslzr · 2019-01 · Strong recommendation

You don't understand that what we call "money" today its a scam: [VIDEO] BTC will create prosperity we can not even dream of

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Sources

Video by GoldSilver , played through YouTube.

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