Part 4: Credit as a Public Utility: The Solution to the Economic Crisis — What is Credit and Who Should Control It?

Part 4: Credit as a Public Utility: The Solution to the Economic Crisis — What is Credit and Who Should Control It?

A Video in Six Parts Written and Produced by Richard C. Cook ©2009 by Richard C. Cook. All Rights Reserved.

Fractional reserve banking is the process by which banks create credit out of thin air. But despite abuses of the system, credit is still a crucial part of modern economics. An enlightened concept of governance would view credit as a public utility. This means that government must take back the control of credit from the private financiers.

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Source: Richard C. Cook Blog

Aired: 3/24/09 12:00 AM