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Full Transcript: Money As Debt – Full Length Documentary

‘Money as Debt is a 2006 animated documentary film by Canadian filmmaker Paul Grignon about the monetary systems practised through modern banking. The film presents Grignon’s view of the process of money creation by banks and its historical background, and warns of his belief in its subsequent unsustainability’. Following is the full transcript of the video.

Listen to the MP3 Audio here: Money As Debt – Full Length Documentary

TRANSCRIPT: 

“Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of something. They know that there is a power somewhere so organized, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it.” – Woodrow Wilson, former President of the United States

“Each and every time a bank makes a loan, new bank credit is created – new deposits – brand new money.” Graham F. Towers, Governor, Bank of Canada, 1934-54

“The process by which banks create money is so simple that the mind is repelled” – John Kenneth Galbraith, Economist

“Permit me to issue and control the money of a nation, and I care not who makes its laws.”Mayer Anselm Rothschild, Banker

 

‘Money as Debt’

Two great mysteries dominate our lives: love and money. What is love is a question that has been endlessly explored in stories, songs, books, movies and television. But the same cannot be said about the question: What is money?

It’s not surprising that monetary theory hasn’t inspired any blockbuster movies, but it was not even mentioned at the schools most of us have attended. For most of us, the question: “Where does money come from?” brings to mind a picture of the mint printing bills and stamping coins. Money, most of us believe, is created by the government. It ‘s true, but only to a point.

Those metal and paper symbols of value we usually think of as money are indeed produced by an agency of the federal government called the Mint. But the vast majority of money is not created by the Mint. It is created in huge amounts every day by private corporations known as banks.

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