The world economy is doomed to spiral downwards until we do 2 things: outlaw government borrowing; 2. outlaw fractional reserve lending. Banks should only be allowed to lend out money they actually have and nations do not have to run up a “National Debt”. Remember: It’s not what backs the money, it’s who controls its quantity.
Comment: The current system of money creation as bank-owned debt as described in this video using the example of the USA, has crept into use all over the world.
So this is not just interesting for Americans... two hours well spent for everyone.