Two days after watching I am Greta, I was back in the cinema to see Oeconomia, a German documentary film about how money is made.
What an eye-opener. What a jaw-dropper.
The director, whom you never see but just hear, interviews major players in the finance world - bankers, heads of insurance companies and the like - about how money is made. Fair play to them that they actually agree to take part. Especially when they suddenly freeze at some of her questions only to say eventually, "That's a good question. I don't know. Can I go away to think about it and then you can ask me again?"
These are the men who are at the top of their profession and they cannot say where all the money comes from and how money is made.
One example right at the beginning of the film is the imaginary situation in which a Swiss woman goes to the bank and says she wants CHF 310,000 to buy a flat. After checking her creditworthiness, the bank agrees to lend her the money. So they mark down the sum as an outgoing, a debit, but on the other side of the balance sheet, they mark it in the credit column. All of a sudden, the bank has gained CHF 310,000. When the film-maker asks where the money has come from, the bankers cannot reply. Some of them just don't understand the question. And this is where the audience in the cinema just had to laugh.
Banks create money and the economy grows when people take loans. When people take out loans, the economy grows and banks create more money. No wonder constant grows is the Holy Grail of the financial and business world.
To get a flavour of the film, watch the trailer: https://www.youtube.com/watch?v=3WXqRQmGBx4
As I said, nice men, but rather clueless. They have great difficulty explaining their work. You cannot help but laugh. But it is shocking that the men that run the money system are so ignorant.
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