G. Edward Griffin, the author of The Creature from Jekyll Island, and Bill Still, filmmaker of The Secret of Oz and The Money Masters, were interviews on The Financial Sense Newshour. Click here to listen.
I keep on hearing the sound bite that companies are sitting on a large amount of cash and if they’d just spend it, the economy would turn around. Like most sound bites, it is not completely true. If you have a thousand dollars in cash, but have ten thousand dollars in debt, is the thousand dollars in cash really impressive? Of course not. And what if that thousand dollars was simply a result of refinancing at a lower rate? Is that impressive? In the big picture, that is what this talk about companies sitting on cash really means. Here is a good article that looks at the details.
The Secret of Oz is now availible to watch free on youtube (with Spanish subtitles). As I say in my book, my preferred approach to solving the money problem is with infrastructure dollars; my approach balances giving the money creation power over to the government (which is advocated in this film) with keeping money backed up by a hard asset like gold (which is advocated by people like G. Edward Griffin the author of The Creature from Jekyll Island).