Essay About Monetary System

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The monetary system is failing the majority of people, while empowering a select few. The monetary system consists of: banks, loans, taxes, interest, bankruptcies, bureaucracy, fraud, greed, corruption, and inequality; where the rich get richer, the middle class get poor, and the poor become poorer. What does money mean to you? Any idea as to who has acquired the majority of money? Some may believe that the system is working as intended but after reviewing the facts you may believe otherwise. We relay heavily on the Capitalist mindset, but the system is flawed.
Nearly everyone in every country uses money when they wish to purchase goods and services. If you were to look up the definition of money it would state that money is “a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.” Is credit, say the use of
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About 1% of the world’s population own about 40% of all the wealth on the planet. The Global Wealth Report estimates that there were 24.2m people in mid-2010, about 0.5% of the world’s adult population, that are millionaires. They control $69.2 trillion in assets, more than a third of the global total. Some 41% of them live in the United States, 10% in Japan and 3% in China.
Only 16% of high net worth individuals inherited their stash, according to Capgemini. The most common way to get rich is to start a business: nearly half (47%) of the world’s wealthy people are entrepreneurs. (source: The Economist Jan 20, 2011). This would have us believe that the rich don’t inherit much of any wealth and are just hard-working people. Though in reality, on average, the wealthiest 1% of households have inherited 447 times more money than households with wealth below $25K. This means that the least wealthy families inherited $6,100 on average while the top 1% inherited $2.7 million on

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