Archive for May, 2017

https://www.khanacademy.org/economics-finance-domain/macroeconomics/monetary-system-topic/fractional-reserve-banking-tut/v/overview-of-fractional-reserve-banking

This praiseworthy organisation is known for providing free, all accessible learning for everyone on a range of core topics.

It does a sterling job of condensing hard to understand subjects, into bite size, digestible knowledge

Few areas have escaped its coverage, and I was fascinated to discover a number of sessions on Banking and Money.

The attached video is one of a three part series explaining how money is created by the private banks, something most people still know little about. This touches many key areas such explaining what Money is, how it actually works and raising valid questions about alternatives.

It doesn’t stop there, you can search for further tutorials on more how banks work, and again how they create money, as well as other technical aspects of the money supply, to name one example.

Its always good to see those of understanding laying bare these facts in a plain manner demonstrating just how easy it is to lift the veil which seems to cover these elements of a modern economy.

What do we mean by Progress?

Posted: May 20, 2017 in Geo Politics
Tags: ,

I read a piece published by MoneyWeek which made me ponder about how many of us understanding the term ‘Progress’

It was Isaac Newton who is quoted as saying; “If I have seen further , it is by standing on the shoulders of giants”, itself a paraphrase of an older quote by John of Salisbury….

This made me think that progress can never be the achievement of one people at any one time or era. We are all in this race, progress is attributable to many of us, each taking our own steps, making our mark and then either explicitly or implicitly passing on our achievements to those who come after us.

Can we really attribute ALL prosperity to a single people(s) or even a single idea, or system, unless, this starting point was fully formed from the beginning?

When economic and intellectual progress is considered, let us not simply reward modern day Europe in all its guises. What of the ancient Indus Valley, Mesopotamian and Nile River civilisations who gained from their respective predecessors. What of Ancient China and the Far East, what of the Ancient Africans, of which their accomplishments are unsung, for did they not make great strides in their own right before handing over to Ancient Greece or Rome. Did the Muslims not preserve this knowledge before adding to it for the ‘Enlightened’ Europeans to take hold of everything that came before?

The baton will continue to be passed, for we all participate in this race. Yet for some, this rac(e)ial identity will be used to define our place and our achievements. 

Realise the lens with which we view our collective place in this world and our progress.