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THE GLOBAL FINANCIAL CRISIS EXPLAINED. financial crisis 2008 explained



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THE GLOBAL FINANCIAL CRISIS EXPLAINED.

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THE GLOBAL FINANCIAL CRISIS EXPLAINED.
financial crisis 2008 explained
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41 thoughts on “THE GLOBAL FINANCIAL CRISIS EXPLAINED. financial crisis 2008 explained”

  1. its worse than that man from oz
    it is said every dollar released garners eight times its worth in debt
    this according to bill still and his money masters

  2. I used to worry about the huge national debts until I heard about quadrillion dollar derivatives markets – just getting used to trillions so had to check what a quadrillion was – only another thousand trillions so they're worth about 10 times global GDP I suppose. When things get reset following numerous national debt defaults, I imagine that market will spiral down like a meltdown in a nuclear facility as will the stock market. Is this why China and Russia are reported as stock-piling gold – as currencies crash the gold price goes into orbit and covers some of the losses and they start again from scratch.

  3. Any ways to break this vicious cycle ?

    There has to be a way that money can no longer be created out of the blue, based from loans and mortgages. Because 1 day, the time will surely come that it is no longer be sustainable.

  4. Eh wait. This explains the problems with the Keynsian system, granted. But there are a couple of pretty big mistakes:
    -this isn't related to the 2008 financial crisis; quite the contrary. The financial crisis came about from too much deregulation in the banks and a loss of confidence. Keynesian economics actually predicted as opposed to the Hayekian view you are defending.
    -Obama the "manipulating bitches". Granted, he's playing with the currency but well… so did the Republicans. And the financial crisis came BEFORE Obama's presidency. He worked towards fixing it. :p
    Lastly, the whole "eternal debt" thing. I'm not sure I've understood it. Hyperinflation is the monster scenario that only comes about when the gov debt is skewed by something major (say a combination of post-war damage, reparations and an unrelated Great Depression…) not from the normal course of events. And you can't really "live over your means", the value of the stuff in a country is outside of short speculation unrelated to that of the currency.

  5. When a currency is introduced it isn't with debt. It's introduced by trading it directly against gold or the previous currency. This money supply comes therefore into existence without any debt on the part of the public.

    When the Central Bank uses monetary policy to buy up securities, of course the public has now a debt against the Central Bank that is true. However either this debt is resold to the public or the excess interest and repayment goes from the Central Bank to the government. The government then reintroduces this money.

    Whenever a private bank loans it expands the money supply too, btw, so not all money comes from central banks. The expanded money supply allows the borrower to pay back the lender with interest. Imagine there was only a single private bank lending. If I wanted to start a business, I'd take a loan. This loan would expand the money supply. I'd have money to spend but the people depositing could still too (as long as they didn't all at once). So how can I repay my debt with interest? By getting money from the original depositors. 

    You also don't understand all debt does not have to be paid back at once.

    Imagine for a moment what you are saying is true: the public has to pay more to the central bank then there is money in existence. Then there would be a huge demand for money (in fact insatiable). This would mean massive deflation. The fact we don't encounter this in the world today should be enough proof this is false.

    Inflation can be good because it gives flexibility to the real interest rate. 

  6. Not everyone borrows money from the bank.  If they did then the entire system would basically be a big ponzi scheme.  Many trade their labor and knowledge for money.  In which case they don't have interest to pay.  Their money is free and clear if any interest.

  7. This presentation has many errors, because the money creation side of a commonwealth government works differently from what the mainstream says. The Commonwealth NEVER has to borrow [it would be borrowing from itself] It SPENDS all of it's money into existence from scratch. To abolish its external debts it simply subtracts the debt amount [maturing securities] in its books and adds it to another account also at the Fed, all in its own spreadsheet. Simple!

  8. Thanks. It's taken a while for it all to sink in. But I understand now how this works. This video is the icing on the cake. I believe the only answer is global governance, a global reserve currency and a negative interest for the hoarding of currency, by which we could raise funds for what we need and to keep goods in circulation.

  9. The GFC had nothing to do with governments borrowing too much and everything to do with big unregulated banks in the US selling toxic assets and crashing the housing market by flooding it with the properties of sub prime borrowers. Long sentences LIKE A BOSS.

  10. If done properly the global economic meltdown doesn't need to be that bad at least not for the average person. Take for example ICELAND. Prepare for the moment, don't put too much money in the bank and let them take care of "their debts".

  11. Revolution is needed. 
    “The world will not be destroyed by those who do evil, but by those who watch them without doing anything.“  –  Albert Einstein 

  12. YOU explained something very stupid ! let me open your eyes ! 60% of this planet is not going at the bank ! so you made a very idiotic mistake from the first minute !

    in those  60% enter also , small , medium and large businesses not just individual persons ! so your explained logic is total crap .

    ( all this video has a point and it is close to reality  but is made wrong )

  13. so if the system is flawed, how come it failed now and not 30 or 40 years ago, say after the gold standard was abandoned? And how come since 1970 to about 2000 there was huge and healthy economic growth?

    It all went astray when the banks started lending money to people who bought houses they couldn't really afford, on the assumption that real estate prices will always go up, and even if the poor fools couldn't pay anymore, the bank would repossess the house and still make a profit. Those assumptions and others turned out to be false. End of story.

    Nothing is going to collapse, it's just going to get shittier for some people until it'll get better again.

  14. hmm. well the money creation isn't really accurate.
    Money start out as a reserve deposit at the central bank, this is money that is insured by the goverment. If the reserve requirement is 5% this mean that a reserve deposit of 100$ allow a bank you lend out 1900$. Those 1900$ did not come from anyone, the banks just created them from nothing. If someone deposit those 1900 in a bank, that bank is now allowed to create and lend out 1805$.
    After 2 steps 3705$ have been created from only 100$.

  15. He describes 'services' as blowing out the debt. How about the 1.3 trillion dollars the Fed spends on defense. Also he describes medicare and social security as 'unfunded liabilities'. No true. These are current, and solvent. The video sounds like a bunch of Libertarian hog-wash to me.

  16. I don't know what other commodities can be used for money. Food, gas, or other essential commodities are NOT possible items to use as money. If these were money people wouldn't burn gas, eat food, etc. The best money item is something that is inherently scarce but is not an essential commodity for the functioning of the economy

    For electronic transactions bitcoin works and only rare elements like silver or gold work as tangible money. Diamonds for example can be made from plentiful carbon

  17. I agree. The GS has only ever failed because the government using it has undermined the standard, a large number of banks conspire to gather and hoard Gold, or capital flight from other less stable countries (or too much plunder or a huge new deposit is found) increased the money supply too quickly.

    However, FIAT currency does ALL of these same things with the added problem of printing. The ideal system is a gov issued FIAT but I agree govs CANNOT be trusted. Gold/Silver is the best option

  18. No one should create money. Gold, or whatever the market decides should be money. FED is parasite. I agree. If we have real honest money that have real value of real commodity There will be no way the banks or government can make us slaves. We have many examples of government no being responsible and overprint money. So, gold is not ideal but is self regulating. all alternatives that are better in theory can be abused and become disaster.

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