Fractional reserve banking is the process of creating money out of thin air. Firstly, each dollar is created by the Gov't issuing bonds/treasuries and the Fed creating new virtual dollars and swapping the dollars for treasuries with the Gov't. Then the banks take those dollars and create 10x the amount out of thin air! This is what truly causes inflation (i.e. reducing the value of your money over time). [to be continued in another post]
Have a look at the 5 videos starting with this one. Its basic stuff, just laying out the facts of fiat finance. A lot of effort went into the series and I think it is well worth a watch, even if it has used animation and graphics to get the story across.
Have a look at the 5 videos starting with this one. Its basic stuff, just laying out the facts of fiat finance. A lot of effort went into the series and I think it is well worth a watch, even if it has used animation and graphics to get the story across.
I think you understand the problems with a gold standard, but I think you ignore the most fundemental problem, the trade deficit, which is caused by our inability to compete with developing countries without turning the working class into serfs. A factory in Mendham cannot compete in an unevenly developed world. Our financial shenanigans have bought us 30 years of relative prosperity. Fortunately, we borrowed dollars to pay for it, and not gold.
it is a complicated thing. It seems that the problem all comes back to the Fed and the fact that the responsibility for the monetary system was ursurped by private enterprise which privately profits from success but demands public recompensense for it's losses. Thus the answer becomes to end the Fed and return the management of the monetary system to direct State control. Is that a fair assessment of one of your points?
as a practical fact there's a lot of state control now, Unfortunately to many people and politicians believe in voodoo economics... the rich don't create money they take it... there is no rising tide that can float all boats... and the only trickle down is the urine pissed off yachts on to the working class.
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WHAT A HIPPIE KUNT
juanglos 2 years ago
One fundamental thing is missed in this video:
Fractional reserve banking is the process of creating money out of thin air. Firstly, each dollar is created by the Gov't issuing bonds/treasuries and the Fed creating new virtual dollars and swapping the dollars for treasuries with the Gov't. Then the banks take those dollars and create 10x the amount out of thin air! This is what truly causes inflation (i.e. reducing the value of your money over time). [to be continued in another post]
LostCivilization 3 years ago
And thank you for UN blocking me. I appreciate that, it shows you have integrity.
sclops 3 years ago
Gary learn about fiat finance, and them make your video.
sclops 3 years ago
Are there any suggestions you might have for getting started in this fiat finance learning? A book or an article?
theguyublocked 3 years ago
Have a look at the 5 videos starting with this one. Its basic stuff, just laying out the facts of fiat finance. A lot of effort went into the series and I think it is well worth a watch, even if it has used animation and graphics to get the story across.
sclops 3 years ago
Have a look at the 5 videos starting with this one. Its basic stuff, just laying out the facts of fiat finance. A lot of effort went into the series and I think it is well worth a watch, even if it has used animation and graphics to get the story across.
sclops 3 years ago
Hi holocaust denier.
Stop lying and filing frivolous lawsuits. Also make a video that doesnt contain a strawman.
If you dont, Ill block you.
elitemathlete 3 years ago
I think you understand the problems with a gold standard, but I think you ignore the most fundemental problem, the trade deficit, which is caused by our inability to compete with developing countries without turning the working class into serfs. A factory in Mendham cannot compete in an unevenly developed world. Our financial shenanigans have bought us 30 years of relative prosperity. Fortunately, we borrowed dollars to pay for it, and not gold.
theCommenteer 3 years ago
I also understand the effects of hoarding and legacy wealth and completely agree.
VirtuousPornographer 3 years ago
and of course budgets should always be balanced.
VirtuousPornographer 3 years ago
it is a complicated thing. It seems that the problem all comes back to the Fed and the fact that the responsibility for the monetary system was ursurped by private enterprise which privately profits from success but demands public recompensense for it's losses. Thus the answer becomes to end the Fed and return the management of the monetary system to direct State control. Is that a fair assessment of one of your points?
VirtuousPornographer 3 years ago
"""monetary system to direct State control"""
as a practical fact there's a lot of state control now, Unfortunately to many people and politicians believe in voodoo economics... the rich don't create money they take it... there is no rising tide that can float all boats... and the only trickle down is the urine pissed off yachts on to the working class.
inmendham 3 years ago
Good video fuzzy ;)
inmendham 3 years ago