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114. Building Tomorrow: Averting Environmental Crisis With a New Economic System / Paddy Le Flufy

In Conversation with Nathalie Nahai

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The Importance of Changing the Banking System

A lot of things are tied up by the way in which the monetary and financial system, the banking system mainly, pulls us into more money. Bank of England says that 97% of money in the UK is created by private banks as debt. When a bank makes a debt, they don't give you money that they have. They kind of like give you the ability to spend money, but they don't have less money. And then part of the agreement is that then you have to repay them that money.

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