Seen it before and watched...
about 2/3 of it just now. It isn't saying anything untrue, but it isn't saying anything that hasn't been said in most economics classes for decades. In fact it is very similar in concept to Marxist analysis of capital formation. The problem with an explanation like this is that it treats money and the economy like they are 'things' that can and should be weighed up on a balance scale and be the same. But the economy is not a 'thing' it is a vastly complicated web of interactions and a process that extends across both space and time. In order for a 'money' system to accomodate that extension in space and, especially time, 'money' can't be a thing that tries to run around balancing itself against all that activity. It too has to be a kind of dynamic process which is really just a score keeper on all the transactions, making sure in the first place that those transactions don't get counted twice.
I suspect this video was produced by the gold guys. But gold is a dead issue as a basis for 'money' backing-it just is and as the film depicts it wouldn't matter if it was re-established as a standard either because the inevitible pressure from capital formation would make it collapse just like it did before.
Debt is scary, but it just a tool and when it gets out of control it can do a lot of damage, when in control it allows a new tent to be bought and used over the winter while waiting for the spring goats to be born and given in payment to the tentmaker for his faith in the borrower.:laugh:
