THE GLOBAL FINANCIAL CRISIS EXPLAINED. financial crisis 2008 explained

by countryHGFhjjh



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THE GLOBAL FINANCIAL CRISIS EXPLAINED.
financial crisis 2008 explained
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41 comments

backach1 13/10/2021 - 8:59 Chiều

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

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Glen Osborne 13/10/2021 - 8:59 Chiều

All good information except the banks make over 90% of currency supply trow fractional reserve banking. Watch hidden secrets of money by mike Maloney

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Wolfram Debris 13/10/2021 - 8:59 Chiều

this is absolute drivel

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James Ng 13/10/2021 - 8:59 Chiều

I dont agree with some aspects in this video.

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Aarash Saleh 13/10/2021 - 8:59 Chiều

I think you don't understand it very well yourself mate

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nick frankos 13/10/2021 - 8:59 Chiều

I don't have any cash in my bank account so I should be alright when it becomes worthless.

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Hexiarmin 13/10/2021 - 8:59 Chiều

thanks, nice vide. Btw. tried to look up your website. I believe it's down.

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Lead3r 13/10/2021 - 8:59 Chiều

what absolute bullshit, this guy has no idea what he is talking about.,

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NoLimitHEAAA 13/10/2021 - 8:59 Chiều

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.

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quaqmireful 13/10/2021 - 8:59 Chiều

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.

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Loïc Delorme 13/10/2021 - 8:59 Chiều

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.

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vogelszijnlelijk 13/10/2021 - 8:59 Chiều

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. 

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weeeezzll 13/10/2021 - 8:59 Chiều

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.

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Matthew Hammond 13/10/2021 - 8:59 Chiều

There are so many basic mistakes in this video its frightening to think anyone would actually take this seriously.

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John Doyle 13/10/2021 - 8:59 Chiều

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!

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Richard Neville 13/10/2021 - 8:59 Chiều

why do the guys that bought wood have a debt of 23 dollars?
shouldn't their debt be 75 x 1.07? they gave Tim 75$. they are in no relation to his own debt to the bank.  

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damejumanji 13/10/2021 - 8:59 Chiều

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.

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VY4tc 13/10/2021 - 8:59 Chiều

nb:this guy is a comedian, which means he was just joking, nothing more

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Todor Todorov 13/10/2021 - 8:59 Chiều

This is not even wrong. It's way too far from the truth to be considered wrong. It's close to idiotic. Please leave this to economists…

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Matt Bartlett 13/10/2021 - 8:59 Chiều

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.

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David Rice 13/10/2021 - 8:59 Chiều

This was a good class. Thx, Professor

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Squishy Plums 13/10/2021 - 8:59 Chiều

So what can we do to save ourselves from financial collapse?

Answer: Nothing. 

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Adam _ 13/10/2021 - 8:59 Chiều

How the fuck are the people that bought the wood related to Tim's profit? I didn't get that connection at all…

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Unidorsal Icosahedron 13/10/2021 - 8:59 Chiều

I don't think the ones that aren't part of the game (think tribal people, the amazon, west africa…) are going to be affected that much.

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Pepe Gomez 13/10/2021 - 8:59 Chiều

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".

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karl howarth 13/10/2021 - 8:59 Chiều

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 

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Gabriel Mizukawa 13/10/2021 - 8:59 Chiều

You said it all, man: you're no economist.

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Michael Hays 13/10/2021 - 8:59 Chiều

Good on you young fella DON'T WORRY ABOUT THIS D@#K H#%D > Radu Beraru BELOW, HE'S A VERY RUDE PERSON.

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Seán O'Nilbud 13/10/2021 - 8:59 Chiều

Libertarians, the dumbest people in the room.

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Enas Agnostos 13/10/2021 - 8:59 Chiều

Well, in other words…we're all screwed no matter what. 

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Pedro Nascimento 13/10/2021 - 8:59 Chiều

amazing explanation and i believe this is the source of the problem, very good conclusion how did u come up with this? 

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Radu Beraru 13/10/2021 - 8:59 Chiều

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 )

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MrJoecool9999 13/10/2021 - 8:59 Chiều

Good Video Bro…! Thanks…!

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gigi duru 13/10/2021 - 8:59 Chiều

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.

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coos bloos 13/10/2021 - 8:59 Chiều

Well done bro – You have my attention!

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Cloud Seeker 13/10/2021 - 8:59 Chiều

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$.

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Mpumelelo Sokhela 13/10/2021 - 8:59 Chiều

This video SUCKs!!!!!!!!

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TheCarin12 13/10/2021 - 8:59 Chiều

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.

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dutchrjen 13/10/2021 - 8:59 Chiều

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

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dutchrjen 13/10/2021 - 8:59 Chiều

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

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Ivaylo Ivanov 13/10/2021 - 8:59 Chiều

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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