97% owned is a documentary which presents serious research & verifiable evidence on our economic and financial system. This is the first documentary to tackle this issue from a UK-perspective and explains the inner workings of Central Banks and the Money creation process.
When money drives almost all of the planets activities, it is essential that we fully understand it. Yet simple questions often get overlooked, questions like; where does money come from? Who creates it? Who decides how it gets used? And what does this mean for the millions of ordinary people who suffer when the monetary, and financial system, breaks down?
Produced by Queuepolitely and featuring Ben Dyson of Positive Money, Josh Ryan-Collins of The New Economics Foundation, Ann Pettifor, the “HBOS Whistleblower” Paul Moore, Simon Dixon of Bank to the Future and Nick Dearden from the Jubliee Debt Campaign.
Political philosopher John Gray, commented, “We’re not moving to a world in which crises will never happen or will happen less and less. We are in a world in which they happen several times during a given human lifetime and I think that will continue to be the case”
If you have decided that crisis as a result of the monetary system is not an event you want to keep revisiting in your life-time then this documentary will equip you with the knowledge you need, what you do with it is up to you.
9 Comments / User Reviews
This is commie propaganda at its finest. This doc offered no real world solution, only tunnel vision. The problem is that the government is weak, and often voted in by people who have Below 100 IQ. They listen to the media on who to “vote”, and then precede to listen to their bullshit. We only have ourselves to blame, because we voted in these idiots.
government always causes the problem. solution? easy. remove the government. TRUST PEOPLE. do things for yourself. don’t expect the government to solve all your problems. the financial crisis in 1929 was caused by interventionalist government policy of baselining interest rates, falsing enthusing the market, creating a bubble, and as any half-witted economist will tell you, bubbles ALWAYS burst. an efficient economic system requires lots of small manageable bubbles. the latest financial crisis was caused by central government policies to concentrate economic out put squarely on one single bubble: the housing market. every hayekian under the sun was screaming that this would happen, but the keynesians didn’t listen. ‘spend when your flush’ is pretty much the status-quo mantra at the moment. we need to realise that capitalism is PERFECT. it is government that contaminates it. it is corruption that causes the problems, and the corruption is cause by government. every government with centralist policies is to blame. we MUST reduce, no eliminate the power of government, completely unleash the free-market and THEN and only THEN will we have a sustainable economy and a system that WORKS. but it will only work if you believe in it. unfortunately, there’s too many nobheads on the planet who vote for tools like obama, hollande and every other central-statist lovers. it was the central state that brought down the soviet union, it was the central state that brought down the british empire. it is US government itself, it is obama, romney and every politician in the land that will bring down the USA.
remove government, let the free market thrive = PROBLEM SOLVED
jesus, they gave hayek the nobel prize for economics in 1974 and we’ve seen what change? thatcher privatising a few nationalised industries? big whoop. Reagan preaching messages? WOW. what we need is the complete dismantling of politics itself, democracy and the right to vote. you don’t need to vote when the system is already perfect. voting only gives power to the people, and people are morons. let the free-market deal with it, its MUCH MUCH MUCH more correct than any living person could be.
The free market leads to monopoly and monopsony. The free market leads to the rich owning all the wealth. You want a system where if you are poor, your children get no education. You want to dismantle the state except for its coercive elements – the police and the army, who will be used to discipline the poor, which will be the majority of the population under your crazy scheme. You take no account of market failures, which are well documented by mainstream economics. If you want to see what happens when you try to remove democracy and impose a radical free market, look at General Pinochet’s Chile and the rest of South America in the ’70s and ’80s. Millions were thrown into poverty and when they protested, the secret police started rounding people up, torturing them and throwing them out of aeroplanes into the sea. The first half of your post contains valid points, but you then show your true colours as a free market extremist. “Right wing lunatic” – your name says it all.
The crisis was begun in USA by Bill Clinton and his support of social housing that allowed Fanny Mae to dominate real estate sales artificially and allow bad loans. The banks could not compete with Fannie Mae (a govt sponsored activity) The FED (via Govt) increased the money supply on purpose. The USA spread the crisis (bubble) to elsewhere.
Real Estate is just consumption, not productive. Industry suffered and went to China for cost reasons.
I am adding more info because this documentary is based mainly on hatreds.
This documentary is very flawed. The experts are generally not experts in the field, the facts and claims are unsourced assertions. Moreover, they speak with far more certainty than any expert ouught to about this subject: Because no-one really understands the role of money in the economy. There does seem to be a problem with the banking system. There is very little known about what the exact nature of the problem is. The answers given in this documentary are highly dubious.
There are many true facts in the documentary but these facts are misinterpreted. It is stated as if these facts are scary or problematic. It is easy to do this when the audience doesn’t have a strong understanding of the subject matter. One could make a documentary about how the NHS gives thousands of people rat poison every day. This is true, warfarin is used in combatting lupus but it is not harmful to the subjects.
The analysis has so many flaws it would take too long to list them. They claim a lot of new proposals that are already proposed by main stream economists. A lot of the other new stuff is already being done. The only original stuff is highly speculative if I’m being generous and non-sensical if I am not. If you want to understand financial markets and banking then check at Schiller’s lecture series at http://oyc.yale.edu/economics if you want to understand monetary policy check out Scott Sumner’s blog.http://www.themoneyillusion.com/
Check out their proposal for reform (same people who appeared in the documentary)
But by far
the largest role in creating broad money is played by the
banking sector. Banks intermediate funds by taking deposits
and lending part of that money to others. When banks make
loans they create additional deposits for those that have
borrowed the money. There is, therefore, a strong link
between the growth of money and credit (Chart 2).(3) And the
supply of broad money will depend on the behaviour of the
banking system, as well as on official interest rates. (households and companies settle many transactions using
their deposits with banks and building societies. These
deposits are typically included in a wider definition known as
Money is created out of thin air by private banks when it is borrowed. The banks lend out multiple times (in the US I think it’s around 40:1) and they “bet” with depositor’s money when it should be separated from investment banking a la Glass Steagal. It is a corrupt sector. Rotten to the core and for the moment in control of things.
90 minutes into this documentary, i’m thinking the film is missing a few organization labels .. it should be also filed as “horror” because this is scary business.. and it should be filed under “mystery” ..bc ..honestly, what is the answer? what are societies of the world to do now?