Friends, you often hear me talk about the fact that America has a debt-based monetary system. But what exactly does that mean?

Put simply, it means that money is debt. That may be a hard concept to grasp. I know that I was stunned when I learned this concept many years ago. However, until you grasp this important concept, the incentives driving the financial industry and our leaders in Washington will make little or no sense. 

I recently found this very helpful video online. It is a very simplistic explanation of how the U.S. dollar is really nothing but a piece of debt.

Its about 45 minutes. So plan on taking some time to watch this. (Warning: While this documentary really nails the problem, it stumbles a bit when it attempts to present a solution. Keep that in mind.)  

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