Where does money come from?

A world class economics professor explains in lay terms the answer to the question all of us should know by now, Where does money come from?

On this brief video economics Professor Richard Werner answers the million dollar question, Where does money come from? This is a must see video for everyone, since all of us are living in this wicked system that has based everything upon money.  It wont hurt to know a thing or too about that thing we need to survive everyday in today’s modern society, MONEY.

Facts about money:

  1. Notes and coins circulating are just 2-3% of the existing money supply.
  2. The remaining 98-97% of the money supply is created by private banks in the form of credit.
  3. As long as banks create credit for productive purposes, like the production of good and services there will be economic growth without inflation.

Professor Richard Werner is a is a German academic, economist andprofessor at the University of Southampton. Werner is a monetary and development economist and has written extensivelyin macroeconomics, banking and monetary policy in Japan and Europe.  He has been a fellow researcher for the Development Bank of Japan and a visiting researcher for the Bank of Japan and has been visiting scholar of the Institute for Monetary and Fiscal Studies at the Ministry of Finance of Japan.  His strong academic ties in with Japan’s main financial government institutions has made him one of the few western scholars in the world with the best understanding of the Japanese financial system.  His book Princes of the Yen: Japan’s Central Bankers and the Transformation of the Economy is a journey through the Japanese modern monetary system, where he explains its origins, role in the Japanese and World’s economy and criticisms towards its functioning model.  I highly recommend reading it if you are interested inunderstanding more how money is created and how an economy can flourish and bedestroyed through irresponsible monetary policy and private banking.

Richard Werner has been appearing recently in Youtube in a series of interviews and here is one interesting one I would like to share with you where he talks about Where does money come from? here is the video.

“Where does money come from?” an interview with Prof. Richard Werner

Michio Kaku: The Universe in a Nutshell

Michiko Kaku is like the Asian version of Einstein, he has become famous after writing several best selling books on theoretical physics. He has demonstrated his genius from early age by creating a homemade particle accelerator in his backyard for his third grade science fair. His major achievement are his discoveries in string theory where he describes the universe as music, and the string’s elemental particles as musical notes.
On this 40 minute video Kaku simplifies the universe in its most comprehensive and simple manner from the Big Bang to string theory and the future of mankind.

Stephen Hawking’s Ted Talk

Stephen Hawking was invited to this Ted talk to answer some questions about the universe.  How did the universe begin? How did life begin? Are we alone? — and discusses how we might go about answering them.

On his wheelchair and his voice synthesiser patiently delivered his 10 minute speech and answered a question from the audience.

Stephen Hawking Ted Talk

Aerogel, world’s most powerful insulator

This amazing material is considered the best insulators in the world.  This super low density insulator can sustain temperatures from -78ºC to 1000ºC 39 times more insulation than the best fiber glass insulation.  Its complex porous structure makes it very difficult for heat conduction, so in the future it is expected to be used also as a home insulator.

Aerogel
Astronaut Peter Tsou with a sample of aerogel at Jet Propulsion Laboratory, California Institute of Technology. (Wikipedia)

Aerogel It is currently used in aerospace to make astronaut suits and spacecraft insulation.  Aerogel was also used in the Stardust space mission to collect space particles that impacted the aerogel at high speeds without destroying the particles.  The most amazing part of the aerogel is that it is 99% air, the remaining 1% is highly advance nanotechnology fibers of silicon dioxide.  Aerogel is so light that 1 gram of it could cover the size of a football field.  For its density it is extremely strong and it can sustain up to 4000 times its weight.

aerogel

Aerogel Explained