I've been hanging out with a bunch of economists in recent months, from Bernard Lietaer to Thomas Greco to Michael Linton ... all people who deeply understand (and question) the existing system of money and are working on unique solutions to address its pitfalls.   And it's made me think much more deeply about it.

The design of money, as it is now (as debt), requires perpetual growth to sustain it; among other things, this puts us at odds with depleting the earth's resources.   Furthermore, while banks can create all the money we can borrow, borrowers are constantly struggling to pay back both principal and interest from a pool of money that only contains the principal; it necessitates scarcity.  At one time, in fact, charging any interest on a loan was called usury and subject to severe penalties (including death!) and every major religion forbade it.

Supun, from our LA posse, forwarded this simple and clear video on the monetary system, which is really worth the 47 minutes it takes to watch it:

For those interested in more, here are some great resources on this topic.