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the financially wealthiest children are killing themselves and there families because of all the lies and abuse they suffer from they re parents
Banks are such trolls omg
That is what we have now… Fiat money.
How do we cure this problem? Revolution is not a solution, and will never happen.
problem solved, become rich…
If people didn't borrow money to buy things they can't afford, things would be a lot different.
I would love to see a graph (did I just say that) showing the time the money was created and how much it inflates before it reaches hourly wage workers
like you would know what to do when that happens…
what a fucking idiot you are
So all I have to do is start a bank, and I can instantly create my own billion dollar bank account! AWSOME!!!
I hope you're not actually serious. If you are, you're the most stupid person I have ever come across in my whole entire life.
At this point i believe it is the only solution. The rich not only have all the money they also have all the assets and the largest influence on politics through the lobbies they create, fund and support. So, we must tear down the system from the top. Establish a brand new government. I suggest meritocracy. And from their redistribute the wealth through a 100% inheritance tax. That way money can't build dynasties or plutocracies. Viola, everyone starts out equal. Talent is rewarded, not status.
Meritocracy is brillant! Explain to me the cons you see within it? p.s. lets keep this argument at a sophisticated level.
And personally I am in favour of a technocracy, To rebut haibane's accusation about a meritocracy creating a "caste" system I would point out that a caste system is inherently a hereditary system, whereas a meritocracy by its definition is not. As for your point regarding the technocracy creating dictators…tbh I dont see the logic behind it. Perhaps if you illustrated how concentrating the power in our "elected representatives" is different I would understand better.
Hmmm. Perhaps our definition of meritocracy differs. I don't believe that there has been a true or pure meritocratic state to ever exist. merit. As i see it is would be the level of knowledge or talent one has in a respectable field. That "merit" can only be determined by people who also have achieved a certain degree of merit in the same field. In essence. The minister of economics would be elected from a large pool of economists who have proven their worth or merit/understanding of economics.
cont…. Meaning that an individual must earn his voice of influence through obtaining knowledge in the certain field he would like to influence. Rather then giving anybody power to elect an entity that can be bought out by whom ever has the largest wallet. I.E democratic – free market capitalism.
cont… So when you say that meritocracy will only result in a high class bent on their own personal agendas or interest, i am baffled and i must question your understanding of meritocracies principles. I must ask you to look at who has ben at the wheel of the US government over the past 2 decades. A lot of familiar names that is for sure. Dick Cheney has served himself at the expense of an entire nation. He is only the most notorious, the list goes on.
That God Damn car company is gonna destroy our intire economy !!!
LOL CEO's in capitalism can completely bankrupt an entire company and jump ship with a billion dollar bonus. Then the government is left to bail that company out, placing the cost on tax payers. In meritocracy if you aren't producing results you are instantly voted out. Clearly our definitions of Meritocracy are completely different. My version (true meritocracy) has never been implemented. . If the smartest people leading a society doesn't make sense to you then i don't know what will.
WTF ?? Just 22 people want revolution ?… We deserve slavery…
"a bank can create money from nowhere" How?
Spread this like wildfire! This is the destruction of the free world.
this video is wrong on so many levels. Banks are in control of the monetary system. their is contractionary and expansionary monetary systems, depend on what stage of the business cycle they are in, or what is system is appropriate to embrace, they let money into the system or, take money out the system. they do this by lowering interest rates, or raising interest rates; Selling Government bonds, or buying government bonds. they do not make money up out of no where.
also every banking system in the world is different. countries like Canada have a highly monitored and regulated banking system which makes them very well run and stable.
As a keynesian you'd believe that. However, when was the last time we raised interest rates? The Federal Reserve does have a hand in money supply and creation of money, not solely in the form of bond sales to China. Bond sales, FDI, and money being removed from our country are the main reasons inflation has not taken its toll on the dollar.
Get every last cent you have out of the bank. Why pay them money to let them get rich off you?
Capitalism versus Imperialism ?
You're incorrect, the Federal Reserve has the power to print money out of nowhere.
You are wrong. Where and how does money come from? Debt! It is created because of debt. They assume that the debt is because of growth – like someone borrowing to set up a shop or small factory. Sometimes that is right, but other times it is not.
The film is pretty well right.
It is interesting to see that nowadays there is still a major consensus that government are the only entity creating money. I think this needs to stop, something is failing in the education system. Maybe is deliberate.
You are also incorrect, you can only print money from debt, not saying that it's ok, But just saying
They all suffer from the fact that money is not pegged to any resource nowadays as opposed to the gold standard days. This mean among other things, that speculative bubbles can happen, and that Economy is supposed to grow forever
There are several flaws in this presentation. Banks don't just 'create' money and lend it to people for a profit. Banks have to source their money and depending on the availability in whichever country they operate in they can borrow from the federal reserve or equivalent. The federal reserve increases money supply in relation to growth and inflation. The rest is sourced from other countries where investors are willing to lend to the banks.
Banks act as intermediaries, meaning they match peoples desires to save and peoples desires for capital. They also allow us to undertake transactions locally and internationally. Really the banking industry is all about risk management. As my prior post – they don't just 'create' money. If they did, then they would be the most valuable companies in the world.
Recently the FR in US has provided more liquidity, known as Quantitative easing, or how some like to call it 'money printing'. How it works is they buy back long term debts which they have issued and sell it to banks which meet Basil II (coming up they'll have to meet Basil III – which is a capital adequacy requirement banks must maintain). The idea is this: If banks find opportunities to lend to productive industries then they have funds available at the FR rate.
Thank God – somebody at least knows what's going on!
When the government needs money it goes to the Federal reserve (or equivalent) and puts 'bonds' up for sale to the public. Individuals, corporates, overseas governments all participate and buy their bonds. By doing so money supply does 'grow' but it is matched with growth and inflation to maintain a balance.
Private banks can create money. I get a loan, they press a key and I get the money into my account from their own reserves or from the Central Bank. All on computer. No money is printed in most cases.
The Federal Reserve is a private bank.
Money is crated from nowhere. It is called qualitative easing.
Sometimes a bank has to adopt this policy yes, but again, in qualitative easing the central banks are buying financial assets from commercial banks or other financial institutions. They're not just "Printing money". Fiat money means we trust it is worth something, even though it has no inherent value.
As economies expand money is created. The metric for expansion is debt. Yes, money is created out of thin air. The UK has far more money with a 60 million population than there was with 20 million. Where did the money come from? It wasn't always there in mythical big bank created by Moses.
That is on theory. Practice was not up to theory.
Luis Correct. Money was lent to people who were bad risks. Lots of debt was created and money printed to services this "expanding" economy. Speculation was in land as it was not taxed. Debts were secured on land as it always rose in value – tangible. A bubble in land occurred and it bust. The land then dropped in value unable to pay the debts.
If land was not an easy gain it would not happen. Value in land comes from economic community activity and this was being used to service debt.
"Banks are in control of the monetary system."
That is the problem.
Yes, who else would be in control of the monetary system. That's their purpose.
Actually it is. That is the basic explanation of how it works. How else would it? I work in a bank, but I'd be happy to hear your opinion.
Quantitative* Big difference between quantitative and qualitative. As Kristian just mentioned, the Fed buys back long term assets (in this case Bonds) and adds them to the available funding provided to private banks. Thus this gives banks cheap money to lend, and buy lending money it gets spent thus in theory the economy grows. It has grown, however banks aren't lending as much as they were intended to so it's still a pretty risk off environment.
Yes it is 'independent' from the government, however it was set up in conjunction with the federal reserve act where congress elected the Fed to target 3 key monetary policy objectives: Maximum employment, stable prices and moderate long-term interest rates. Many argue that is is not as independent as it once was due to political pressure and the fact that all profits made my the Fed go back to the governments books.
Yes, provided the amount of money circulated in transactions imagine how expensive it would be to actually print out every dollar! The bank will lend you that money from their available funds which they would have earned a profits, or borrowed from the central bank or other governments
In "transactions " you mean debt. When banks do not have enough reserves to fund loans, they borrow off central banks, or other banks at low rates. When they do not have enough funds to give loans money is printed. Everything is predicated on DEBT. They assume that people wanting loans the economy is growing to pay back the loans.
We had a crash. So banks wanted their money back. Money that wasn't there before the loans were given. The debts should have been wiped out.
You're partly correct here in that the banks can borrow from the central bank, however it is the central bank that determines how much money is available to commercial banks and therefore how much is in circulation. Debt's can't just be 'wiped out', since somebody holds that debt, whether it is the bank or another investor. I suggest taking a banking course at a university or work in the institutional part of the bank to enlighten you on how the system is actually run
It would have cheaper in the UK to give every man, woman & child £1.5m each than bail out the banks – fact. HMG could have paid all debts in negative equity. A far better solution than to pour money into banks and let them do exactly what they were doing before. The ancient civilizations wiped out debts and they lasted 1000s of years. The post war Germany economic miracle was because ALL debts were wiped out post WW2. DEBTS CAN BE WIPED OUT. and should have been.
YES! We The people "Americans" just screwed and felt Disgustinglyl like Monica L??
I was stating fact to ram home the level of pubic money poured into banks, not saying give all £1.5m each. The debts should have been wiped out. Read Michael Hudson on this.
We have to do somthing about this.. as long as we use fiat currency there will ALWAYS be big problems in the world like the big difference between poor and rich..
Great video, thanks.
What are you talking about of course it does! Stop fooling the guy. Lol 😛 *Jks*
I have my own FIAT money except it does not have the same pictures on it as the dollar or Euro or Rand or Yen circulating in the economies of the world. I got mine in a board game named "Monopoly". And when I progress past "Go" I get another 200 dollars. I just have to throw a dice to get more.
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The various size vitalizes the digestion.
The sign consolidates the reading.
I want to know why the FED RES is so secret..what are they doing that they can fart out a trillion dollars at the drop of a hat… I WANT TO KNOW!! What does the fed res have that's worth 9 trillion dollars.
Yes , money is fiat. They pump as much additional money into circulation as is needed to buy up all the newly generated wealth and expanding population. Those who issue the money own you basicly , you need their documented permission to do anything when you think about it. It's just the way our world is , we are very depentand on each other. Money gives you a lie of independancy wich is a big fat lie only idiots believe in…you have to work and be productive , else we're all fucked , no?
Control of money supply is one of the main roles of the central bank en.wikipedia(dot)org/wiki/Central_bank. You're correct with regards to bankruptcy however I wasn't very clear on what I meant by 'wiped out'. I meant that somebody suffers the loss of the cancelled debt e.g. investor or debt-holder.
Money supply cannot be endogenous i.e created by commercial banks on the back of demand for loans. It may appear that way however banks must hold a capital adequacy ratio as implemented by Basil II, and coming up Basil III. What has happened during QE is that the FED has been buying $xxb per month in tied up bank assets (mortgage backed securities) in exchange for increasing each banks ability to loan out money. Severe inflation is a possibility as a result of increase in capital adequacy.
en(dot)wikipedia(dot)org/wiki/Endogenous_money. That is precisely what it means. Capital constraints by definition constrain/ limit credit creation. Basil III requires banks to hold a total of 12% in reserves* for its total credit created. (The 12% is split between common equity, RWA, conservation buffer, discretionary counter-cyclical buffer and during high credit growth an additional 2.5% of capital). The whole point of capital requirements is to limit credit creation.
One of the primary roles of a central bank is to control the money supply. Who else is going to do it? Just magically appears? If anyone can just 'decide' how much money they had the economy wouldn't work. CB's control MS through the commercial banks by buying their assets (loans) and crediting their reserves account with the CB. The new reserves allow for credit creation.
Of course they dont! For example, a bank has 1B in reserves, due to capital requirements those reserves can represent a minimum of 10% of their assets (loans). Thus the bank can lend another $9B due to its 1B in reserves.
Reserves can be grown through profits or sales of assets to the CB. The increase in reserves allows to lend more money. Simple. The capital adequacy requirements limit inflation. Please explain and provide reference to cases of fraudulent lending on a large scale.
global revolution,,, thats only way…
The largest pyramid scheme in the world, and it's enforced by federal governments.
And this is why the NSA exists … to protect this type of system and lick that banker butthole..
Let the ruling classes tremble at a Communistic revolution. The proletarians have nothing to lose but their chains…
This is nicely done. I've embedded it on my own blog on fiat currency http://fiatcurrencyreview.com/ I welcome feedback and comments there. Thanks for producing and posting this video. It's very helpful.
I LIKE This Version!!! d};-))
Half the shit on here is not only exaggeration if not 100% untrue bald-faced lies! Every single dollar bill out there was not created by banks, The US Government is the one who either directly or indirectly create every damn cent through spending it into creation. Secondly the Government, even back when we had both silver and gold-standard, and especially nowadays, has never taxed in order to fund it's own spending. Until Reagan, most of the money brought in to the government was entirely due to tariffs and it's only been resent;y after eliminating them, thus allowing the complete destruction of unions, our manufacturing base and so on and was ramped up after end both glass-steagal, passing NAFT, The WTO, and of course KAFTA, all done by the single most corrupt corporatist-President who is ultimately responsible for most of the current economic, financial, and even nowadays political catastrophes of the past decade and a half, (and yes, he was even more responsible that Reagan, HW Bush, and even – GW BUSH), and that's of course Clinton! Taxes though were and still are meant to do one thing only and that was to keep the US populous invested into not just our economic and financial systems, but our Government primarily! It even currently without tariffs, still spend first to get the capital out into circulation first, and then bring in the taxes on the back side of that! They do for a limited time increase the supply before though eventually the government compensating them through the Fed.
QE and the Fed by moving money around which acts as nothing more than a mimic what a real well-functioning economy should look like. When it really, like i said, is just moving money from one account in the fed to another. This just masks how broken our economy still really is, and is exactly why we desperately need not just another, but a larger and far better-targeted stimulus bill! Increasing money supply through lowered interest rates is all funded on the back-end by the Fed which is funded by the US Government! Another thing, a nation who bases it's financial system on a fiat and free-floating currency, while also denominated it's national-debt in that same currency, it is not just very hard, but in fact 100% impossible for that nation to ever be forced into bankruptcy! Since our Gov controls our currency creation, either directly like out-in-out direct deficit-spending or through backing bank loans, our gov will NEVER run out of dollars! Not a single nation who have this system has ever gone bankrupt, Greece and other's dont have their own currency and have no ability to control the currency-circulation or slow it down because they are on the Euro, proving exactly why a money system like that is entirely broken and really was ever since it's inception! Neither debt nor deficits though, have any direct correlation to our nations economy, none. especially with a fiat currency. The only way they could possibly, is if we kept injecting mountains of cash into circulation after our economy get's back "Full-Employment," which will inevitably lead to inflation. But, inflation and inflation alone, is the one thing that limits how much a government like ours can and should spend. Huge increases in Gov spending though lead to any significant dollar devaluation, as morons on here state. People like this seem to forget the most important factor, that factor that is the single reason why direct Government-Deficit-spending leads to economic stimulus, and that's the huge increase in economic output! More people buying things, leading to businesses being forced to go out and higher new workers be cause they have too much business to handle currently, which then in tern gives those workers with a new job – who of course have that increase in income which allows them to go out and spend more – if not spend where they were spending at all before, and so this cycle repeats itself. That's stimulus. People don't higher new workers out of the goodness of their heart, they do it not because they can't handle the increase of cash – they do it because they can't keep up with the work and need to higher new employees to pick up the slack! Spending, and spending alone is the one and only thing that feeds our economy, it doesn't come spontaneously, and that spending doesn't matter whether it's done by our Gov or the private sector! Increased-economic output is what eats up either the entirety or most of that possible dollar-devaluation.
That's why inflation only occurs when a economy is running on all cylender and yet the Government keeps spending. Debt and deficits have no link to inflation nor do they with each other or the economy as a whole.. If it did, back after WWII – the monster sized debts/deficits created and then increased again by Eisenhower with the Highway project in the 50's, would have lead to economic collapse, and yet- that was the economic golden-era for the US and then for Europe too by the 1950's and 60's! After WWII, our debt was literally double the size our's is nowadays by comparison – it was at 200% of GDP! All WWII and the massive debt and def only showed us, is that the one main flaw with FDR's New-Deal, (economically-speaking), is that it was near large enough and that it took WWII to get our Gov to do the amount of def-spending needed to get us out of the depression!
We aren't a household, and our national debt is nothing close to this fantasy that we "Owe" China billions of dollars or something, and ne day they'll come break our legs. A National-Debt is sold off to entities, and not nation on Earth would ever dump the debt they had or stop buying more, and it would only ever do that if we ever do reach inflationary levels. They know that whether they get a return on their investment year from now or a century, either way – they will make money off of the debt that they had purchased. And because of this there is literally no level in which our debt or def could hurt our economy, they have no correlation to each-other first of all, nor do they ave any on our economy! The Austrian economists pushing the bullshit idea that eventually once our debt was to get to 90% or higher of our total-GDP, it would eventually lead to a downward spiral in the form of "hyper-inflation," which is nothing more than a made up concept that has never happened and could never happen!
It's based on the premise that the Fed eventually will be forced to raise it's interest rates to the point of catastrophe, and so they are always using the equally hilarious term, that it is "artificially keeping the interest-rates low!" It's hilarious, because the Fed has 100% control on the setting of interest rates and it to is impossible to be forced into ever raising them! It's also funny, because the 2 poster-kids for the Austrian-Economic perspective, eventually had their "thorough," report proven to be pure bullshit! They said they did it on accident, but they left out entire nations when it came to their "comprehensive study," and that u add the many factors they left out – it proved their whole conclusion was utter as much bullshit and not backed by the evidence in the slightest! Though they've embarrassingly have stood by their conclusions, – despite how untrue their conclusions were and how it looked like it was pretty obviously doctored and not done on accident!
The Money Masters ~ Full Movie
to understand the moneysystem watch hans hermann hoppe on youtube 😉
I think banks cant create money out of nothing. Government only can do that through one national central bank. Eg eu central bank, fed or bank of england.
In the US the Federal Reserve can print more money, buy stocks, bonds, debt instruments, and set the interest rate banks pay to borrow from other banks when their deposit reserves are below bank regulation standards.
all wars are bankers wars bitches. https://www.youtube.com/watch?v=5hfEBupAeo4
Fiat currency = money. Fiat Deity. = religion. Word on paper backed by NOTHING.
Jeez! So you're telling me I've been get fucked everyday of my life and basically I'm a slave? Right, when are we starting the revolution?
If I was a private investor I would buy gold and now and hoard it. (The American President and world Leaders) should consider going back to the gold standard though increase the value of Money. —- Here is why! —- Gold gives people a currency stabilizer. For the investors they have something to fall back on. Giving the currency back to the gold standard or just making a new gold stranded currency to compete with the FED, that's making the FIAT currency. This will do something to back its own monetary system. 1) With the F.I.A.T. Dollar it's subjected to an annual inflation increase. 1 Dollar from 1971 has the same buying power now of $5.84 in 2015. (Don't believe me check out the inflation calculate on-line) That's called inflation, the government over prints money. It's hard not to do this with FIAT money when our government is investing in wars and social organizations like welfare and social securities.2) The Stock Market will fall it’s just a matter of time. 2008 was a Bearish market. It would be smart to diversify funds, countries and investors alike…3) Other countries will have a financial collapse through a domino effect by a sever demand of gold or other metals to back up currency. 4) Each country members of the IMF must deposit a certain amount of their currency to stay in the IMF club. For example, Greece just "borrowed" $650 million from their account at the IMF Fund. Now they only have thirty days to refund their account, (WHAT DOES THAT MEAN)? Just print more money and hope things will be alright? NO a possible collapse that will possibly start a domino effect of the EEC and this will affect us because there lenders will demand hard assets: Like precious medals.5) The Chinese yuan and their gold supply and other currency supply. The Swiss Franc, India Rupee, which makes seven currencies. Which China is hording will demand payments other than FIAT money? This will start a worldwide financial crash. All countries will demand Precious Medals which will drive the price up.Show less
This is an excerpt from the documentary "Four Horsemen".
Question: If banks can create money through lending why would they be interested in the money Carney has just made available to them?
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This is faith in money. But this faith must disappear.
very good video! 👏👏👏👏
Fractional Reserve Banking does not occur in the current monetary system. As proven by Professor Richard Werner & stated in various central bank papers.
This isn't Capitalism this is legalised fraud!
It's not just governments and banks it's the rothschilds and the Jewish state who in turn drive political agendas worldwide and flood Europe with replacements for the chosen people who created the modern world.
I had a Fiat once. Rusted like hell and fell to pieces.
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Bitcoin solves this.
Q. Who benefits?A. Jews.
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