Jim Rogers Says Let the Incompetent People Go Bankrupt UK is Over 23 Jan 09

[xadam2dudex]

it wasn't the politicians that caused the depression it was the bankers idiot.. they made the depression and made it deeper for their own enrichment..same ole broken record from this guy.. put the crooks in jail is the answer..the stock market isn't a real economy it is a casino

[xMaXiMuSx]

@xadam2dudex

It's goverment policy/central bank policy that allowed it to happen.. YOu can't guarantee risk and bailouts and expect bankers to not try to enrich themselves.. There was no fear of failure..

[xadam2dudex]

@xMaXiMuSx when they did all their criminal activity they didn't even think about the consequences... they were so engrossed with the profits they could reap...it wasn't until they saw the collapse happening that they got their insider Paulson to put together the bailout so the government could take their current and future losses so they could still reap the profits...they crushed regulations new and old that might threaten their criminal activity

[xMaXiMuSx]

@xadam2dudex

yeah they were commiting fraud, they should go to jail.. But you understand that when you have a goverment guarantee you can do whatever you want because you won't lose anything!! That was the problem.

[xadam2dudex]

@xMaXiMuSx they didn't have the guarantee till after the bailout ..Paulson under TARP gave them free money and a promise to pay off all future debts from their criminal activities..the republicans and blue dog dems crushed regulations to end the speculation

[xMaXiMuSx]

@xadam2dudex

no they had goverment gurantees all the way through.. artifically low interest rates and of course bailout guarantees(if you dont think they had them you are STUPID).

[xadam2dudex]

@xMaXiMuSx those low interest rates were thru the FED not the US government.. u totally don't understand the workings of the government and the banking system

[xMaXiMuSx]

@xadam2dudex

yeah that's the FED.. I know that... The FED is the enables of all the moral hazard.. It's the central bank of our country.. Notice my first comment to you I said Central bank/Us goverment central planning..

[xadam2dudex]

@xMaXiMuSx the FED is not the bank of the US government.. they are a private corporation and work not for the government or the American people but for their owners they committed a crime by getting the Federal Reserve Act passed and then set about robbing the US treasury blind

[xMaXiMuSx]

@xadam2dudex

yeah I agree but they operate with the blessing of the US goverment.. The congress can end them..

[xadam2dudex]

@xMaXiMuSx Sen Dick Durbin said it best when as the senior senator from Illinois stated outright that the banks "own" Capitol Hill so the hope of the Federal Reserve Act being repealed is slim to none

[davidshaz20000]

Chinese are fools as US Dollar will collapse so will all Debt of china will be wiped out and china will be left with nothing more then just papers...........US Dollar is the biggest Scam of World! Muslims and Arabs going against USA which means USA will soon loose all grip on world Economy soon........InshAllah & Ameen

[lowellriggsiam]

Didn't Einstein define insanity as doing the same thing more than once and expecting a different result?

[zxcvbnmjhgfdsa1]

enstein was before the age of computers I often do the same action with my computer sometimes it freezes other times it works

[bigmaton]

Fight the evil Bankers.

1. Don't borrow money (loans, credit cards, etc.). With borrowing Banker create money out of thin air via fractional reserves

2. As above, do not keep excess money in the bank. Buy Gold/Silver, pay debts, buy ahead on storable food

3. Open an Islamic Bank Account. Islamic banks ofter are outside of the Federal Reserve System, they do not charge Interest (Usary in the bible) and the do not loan money for socially destructive activities, like weapons factores

[zxcvbnmjhgfdsa1]

dont they charge fees isin't that the same thing

[elucidative]

Illuminati Freemasons Satan Worshipers are engineering this economic crash on purpose to usher in the New World Order and  global depopulation.

[mrethrift]

Follow the work of dissidents, freethinkers, and rebels? Check out The Ridley Report, FreeKene, Nevergetbusted, DrugPolicyAlliance, Stefbot, TheYoungTurks, and Drinking With Bob.

[abstractduk]

its been the design of capitalism to collapse. its been an eventuality of banking systems. it has been orchestrated and the government are happy even though people are not. it provides them with a pivotal period in which they can dictate new reforms and monetary systems and a greater shift of power to those who think they control our food,our water,air money land etc... they are happy this is happening because they will benefit from this and people will not.

[zulema001]

It's called war and it's name is Armageddon as I see it unfortunately.

[hummarstra]

Thanks for editing out the douche bag journalist. That was nice.

[debtfreecurrency]

also 4reel5 please clarify. "the central bank just directly pumps money into the system"

ALL currency(or money) is BORROWED into existence, with interest attached, from the federal reserve, isn't it? its a loan, right?...subject to interest. whether borrowed by the federal government, commercial banks or investment banks its still a loan. or are you saying that the federal reserve is now ordering the government to print money and then the fed is just giving it away!

[4reel5]

I have the perfect website for you, mises org, they have a huge archive of articles, books, audio files. Read Murray Rothbard's The Case for a 100 Percent Gold Dollar, the case against the fed and what has government done to our money. Austrian economics has all the answers. I'ts easier to know what's wrong when you understand how it should be done.

[4reel5]

Austrian economics is what Jim Rogers, Peter Schiff, Marc Faber and Ron Paul studied for them to be able to know what's going on today, and it also helped me be able to figure out what's coming next just by being able to figure out what current actions by central banks and goverments will lead to down the road.

[Ecothearcy]

It didnt wok in the 80s and its not working now. Gold will crash as soon as people start seeing the stock markets as stable, plus the reduction in trade deficits,; Schiff and Rogers r brokers or trying to get out of their positions. they sell every rally, look at the chart.

[debtfreecurrency]

(Here I go again} Question: Why does INTEREST exist? It is my conjecture that interest

Is the root cause of the Money Problem. Unless it is eliminated the so-called "economic cycle", which is nothing more than the system expanding debt load until it reaches its mathematical limit(service on interest-only exceeds total money supply) causing a deflationary death spiral default to total collapse wherupon it is reset with a "new" debt-money currency to start the same cycle over again!

[debtfreecurrency]

to sum up: the problem is not too many dollars chasing too few goods, inflation.

the problem is too few dollars chasing too much unpayable interest on debt!!!

I have "coined"(pardon the pun) a new economic term to represent my theory:

UNFLATION!!! hahahaha!!!!! Remember, you heard it here FIRST!

[4reel5]

part 1 of 2

you mean deflation, than term exists. I know this stuff is confusing and it took me a few months of solid research just to wrap my head around iy.

First inflation = increase in the money supply period!

second commercial banks do increase the money supply of course through fractional reserve banking as you know, but I don't think that you've realised yet that it is the central bank like the fed that has to introduce the money into circulation first, it does that in 2 ways.

[4reel5]

part 2 of 2

by manipulating interest rates, what this does is it makes it less attractive to save money and more attractive to borrow, so the current interest rate of 0.25 the fed has now, makes few people want to save because the return isn't worth it so they invest their money somewhere else and at the same time a lot of people want to borrow at this rate because it's very cheap. so you see the central bank acts as the regulator of savings to borrowing ratio by manipulating the interest rate

[4reel5]

that commercial banks can charge their customers.

second the central banks just directly pumps money into the system like the stupid bailouts that we are seeing.

so inflation is the increase in the supply of money and the sinister part is that the new money isn't distributed evenly but goes to government and banks, and this new money just bids up prices of limited resources, that's how housing prices were bid up to such crazy figures. It's hard to explain with 500 character limits.

[4reel5]

watch this video to see how it works and how the federal reserve came into existence.

watch?v=7auQEXTWomA

I would recommend you watch other videos of G. Edward Griffin, he has some very good videos on youtube.

[debtfreecurrency]

4reel5, thank you for your comments. The whole "money" problem is super interesting isn't it? i never thought about the concept of "money" before this financial crisis and all the news coverage! Anyway. yes, now I understand: Inflation=increase in money supply, period. Deflation=decrease in money supply, period. I wasn't referring to deflation in my last post, but "UNFLATION", a word i created to characterize the cause of ever rising prices incorrectly diagnosed as "inflation"!

[debtfreecurrency]

part 2 of 2 "manipulating interest rates" I see it in a quite different way. interest rates are adjusted upward by the federal reserve when the economy is "heating up" or experiencing fast growth resulting in profits and savings, right? Raising rates to "cool an overheated economy" is parasitic non-producer bank speak for maximizing the feds profits!!!! the fed wants to skim as much as it can from the producers at all times! Strike while the iron is hot! ha! Devious and clever, The Fed!

[debtfreecurrency]

So doesn't that mean that the interest on the debt creates not only forever increasing perpetual unpayable debt but perpetually increasing prices imposed on the people by the demand of servicing that debt. The more paid to service debt to the non-producer banks. the more one much charge for his labor, goods or services to survive! The INTEREST is the problem. NOT inflation! Inflation is misdirection! We have a scarcity of money not an overabundance! BECAUSE THE INTEREST IS NEVER ISSUED! Wow...

[debtfreecurrency]

what does a bank produce, really! They give you a piece of paper to sign,

a promise to pay them with your property as collateral. the bank types in some numbers on the computer, the amount of the principal of the loan, say for a 100,000 house and suddenly your in debt for 300,000 dollars of your labor and sweat due to the magic of compounding interest. but wait a minute, the interest was NEVER created! Won't some poor sucker have to lose his house for you to pay off yours?

Or vice versa? Hmm

[amsd1231]

Banks are suppose to produce a service of allocating a part of the goods produced into capital which will help the productivity in the future. However, US has no spare goods produced (savings) to allocate for future use. So they burrow money from foreign countries to do that, promising them the future goods produced by their investment. However, they have nothing to show for this money now cuz the incompetent people blew all the money on risky businesses like MBS and American consumers.

[luke666808g]

There's risk on both sides, some people will lose their homes, but if enough people lose their homes the real estate market collapses and the assets wind up being lower in value than the sum of the bank's deposits, and then it's game over, so people go bankrupt and banks go bankrupt as well, the problem is really the monetization of debt by the central bank, that's what allows people to go bankrupt while commercial banks do not, it removes the only incentive against bad behavior that banks have.

[UTubeConspiracy]

I watched this live on TV and you Cut out everything the other people had to say. Are you in saying that Jim Rodger is the only one we should listen to? Come On man we can make up our own minds.

[debtfreecurrency]

I know what i want to get across, i have difficulty expressing it in words sometimes. There is

something wrong with the the monetary system, of the very nature of "money" and

this system of exploitation hidden right in front of us. I am trying to figure it out, thats all.

i think some extremely intelligent and deceptive people have created and used this

money system to transfer the wealth of the majority of humans, the producers, into the hands of a very small elusive club of non-producers.

[debtfreecurrency]

oops i meant "houston(or should i say Earth) we've got a problem" Jim Rogers quote from this video "LET THE PEOPLE COLLAPSE, GRAB THE GOOD ASSETS AND START OVER AGAIN" Think about that for a moment. Let it roll around in your psyche That quote, do you see it for what it is? The very essence of the debt money matrix by which the people have been ensnared and enslaved. Short and sweet, one sentence sums it up nicely. Thanks Jim. But why DO the people collapse? incompetence? really? Jim thinks so

[Nexus974]

Jim Rodgers and Peter Schiff....two of a kind.

[debtfreecurrency]

Ok, so now we've got a debt, a loan(principal) bringing money into existence. And now we've got USURY(interest attached to that loan) NEVER BROUGHT INTO CIRCULATION, never created, right? Apollo, we've got a problem. I kept asking myself how in the world

could the people of the world produce such an overwheming abundance of STUFF, or value, and yet 1/2 of all the people(3 biillion!) live on 2 bucks a day or less and to top it all off, all 6.5 billion of us are quadrillions in debt? Doesnt add up

[debtfreecurrency]

i'm still not convinced that so called inflation is the cause of rising prices. Here's a slightly different angle. Please ponder for a moment. Think of 6.5 billion people and the absolutely astounding mind numbing amount of wealth, production, goods, services, labor and transactions that are produced daily! Hundreds of trillions of value produced by the people annually! And yet we are told over and over and over by the media that we're all hopelessly in debt! Doesn't that strike you as odd?

[debtfreecurrency]

let me ask another particular question concerning "inflation" ALL currency is issued as debt, so the currency circulation cannot be greater than the total value of the loans taken to borrow the currency into existence in the first place. would everyone agree on that? So, how would a business owner, producer, builder, farmer etc, first detect that one day the circulation of currency has somehow increased? (even though we know it can't!) It just doesn't make any sense to me!

[ChristiansMustLearn]

jumping on this thread to see what others think. I have a very vague notion but would like some clarity on the source of the problem.

[debtfreecurrency]

bear with me a minute, I'm trying to get to the bottom of the current financial crises.

THE CAUSE, if you will.... I used to think schiff, faber, rogers and even ron paul(boy i"m gonna step on some toes there!) were reliable, honest and straightforward concerning this worldwide economic collapse. I'm beginning to wonder. I don't think they're entirely forthcoming and are probably engaging in misdirection. They certainly can identify the signs of the problem, but the cause and the solution?

[debtfreecurrency]

can someone please tell me the cause of inflation? The dictionary states the definition as " a general increase in prices and fall in the purchasing value of money" Ok, I suppose I understand that ...simply stated, you pay more for less. Right? But why? the dictionary doesn't give a reason or cause for inflation. How does inflation happen?

[MossadAgentWatching]

when the fed starts to print more money , the mass money in circulation increases hence its real value decreases so the commodities become more expensive hence the INFLATION...think about it ...money is just a piece of paper its value is the faith we put in it nothing more nothing less

[debtfreecurrency]

you say when the fed prints money" that is not exactly correct is it? all currency or "money" comes into circulation thru a bookeeping entry by banks as evidence of a debt, a loan(with interest attached). There must be a loan for any new currency to come into circulation, according to the federal reserve anyway. And how can moneys "real" value(whatever that is)decline if, as you state,it is only a piece of paper with no value in the first place?

[MossadAgentWatching]

money is created by the FED in US or the central bank in each country and also money is created by single banks , money today is 98% just computer digits 2% paper notes also called debt notes , money is credit it is not real money ...when there is a lot of paper money or digit money in circulation its value decreased ...since 1972 the US dollar is not tied to gold hence it is just a piece of paper which value exactly equals what people give it in their minds

[debtfreecurrency]

What do you mean by "real" money. money is only a method for exchange, determined by custom or law. So whatever any sovereign authority determines by law to be the tally of exchange becomes real money doesn't it? I think you are getting money and wealth mixed up. Gold is not "real money" anymore than paper. Gold is an indicator of labor and production(mining, minting) yes, as is paper(logging, processing) Gold or paper, like any commodity, might be considered evidence of real wealth not money.

[vociti]

Very good point. Now I have to go take a nap because my head hurts. :) Let me think about that one.

[MossadAgentWatching]

Gold itself is just a shiny metal which was picket as a mean of transactions for 2 reasons first it does not rust even after hundreds of years unlike iron or copper , second it is easily workable and could be cut in small pieces with a relative ease ...gold is not an indicator of labor as you said , any country that finds a gold mine in its territory becomes gold rich , the same way as oil there is more chance than labor there

[Iain1962]

Think of it like a poker game, two players put in 100 USD and start playing with 200 chips, a beer costs 2 dollars or 2 chips the Fed comes along and sits at the table with 200 chips, but doesn't put any dollars in the pot.

So now there are 400 chips in the game but the payout pot is only 200 dollars, so now if you want a beer it costs 4 chips.

[Iain1962]

Most trade takes time, so if you order 50,000 Widgets from China, they have to make them and ship them. If the currency is volatile and the trend is downwards due to all the paper money circulating, they will charge a higher price to be sure that when they deliver and get paid in 6 months they can convert the dollars into enough local currency to meet their cost and make a profit, so the price of everything starts to rise.

[debtfreecurrency]

Isn't the money system a closed system? There is a finite amount of currency, physical or digital, in circulation at any particular point in time. its a LOT, but its still finite, right? Now, ALL this currency was brought into circulation by the issue of debt, a loan for goods, services, production or labor. How then can the currency be subjected to a circulation greater than the value of all things for which the currency was borrowed into circulation for in the first place? My head hurts....

[ChristiansMustLearn]

your putting a lot of emphasis on money supply and circulation but this problem isnt just about how much money is in the system but total debts owed which may or may not have anything to do with the money supply especially when derivatives are taken into account.

[debtfreecurrency]

Ah! NOW we may be getting somewhere! 2 Questions: If currency(money) is introduced as

debt, WITH INTEREST WHICH IS NEVER CREATED(only the loan principal is created to bring money into existence) then merely to maintain a currency circulation, wouldn't one have to PERPETUALLY re-borrow whatever is paid against principal AND INTEREST obligations?

How is the interest to be paid, IF IT IS NEVER ISSUED INTO CIRCULATION?!?

[MossadAgentWatching]

money itself is just debt , the whole post WWII world economy is DEBT BASED Economy the richest nations are ironically those who have more debt and who are sold out to the international banks

[ChristiansMustLearn]

I'm well aware...

YT Search

"MOney as Debt"

[MossadAgentWatching]

I have already watched that documentary and tens similar others ...I have not started today educating myself about the matter ...take care ...

[FinancialQuant]

There is usually alot of confusion about the issue. First there is price-inflation, which is as you described. There is also inflation in the money-supply. That is, the central bank "pumps" more money into the economy.

The CONSEQUENCE of inflating the money-supply is price inflation, because there are more pounds circulating in the economy that are chasing the same number of goods being sold (butter, bread, pencils, houses etc).

[debtfreecurrency]

I still don't understand the cause. If all the money is loaned into circulation as debt, and the principal(or debts) are subject to interest which is never created, how can we borrow(bring money into existence) more than the value of whatever we are borrowing for? its seems like inflation is not even be possible! mean its not possible to borrow $200,000 for a 100,000 house, or 50 grand for a $20,000 dollar car. the bank or car company would never do that! So how can we suffer from inflation???

[vociti]

I believe the bank that supplies loans only need 1% of that loan in their own vaults? So the money you pay back to them plus interests (minus the 1%) is money that never should have existed in the system to begin with. It's like me lending you 100 dollars but I only needed 1$ to cover that loan to you. When you pay me back, I've now made 99$ of invisible money. I'm not sure if this is the exact cause but it is a part of it. The more money, the less it's worth.

[debtfreecurrency]

man, this stuff takes some time to get my mind around.You are referring to the fractional reserve requirement? Your example still somehow seems backwards to me via inflation.Even with fractional reserve of 100 to one, the money lent (the $100 debt incurred for only $1 dollar reserve) is still for the value of the goods or services the loan was taken for) Inotherwards the loans are creating ever greater labor, production, goods and services, or VALUE, aren't they? So, why inflation?

[vociti]

I think it's probably more like the matrix. How far does the rabbit hole really go? This will make for some good conversation tomorrow.

[ChristiansMustLearn]

i dont think the problem is as accute if reserves are loaned to increase production but when they fund excessive consupmption of foreign goods they create debts that cant be paid back and account deficits to foreign lenders and producers. still trying to understand the details just like yourself

[vociti]

Also, if a bank gives you a loan for a 400k house that was 150k 8 years ago, isn't that also inflation? Who came up with the idea that real estate should increase in value? Who sold us on the idea that we pay more for older homes. And when this idea spreads across all communities but jobs don't increase pay every year to match the rising cost, major problems occur over a long enough period of time. It's not sustainable. This ideas behind our economy almost have a preset time limit. Who knows...

[MossadAgentWatching]

the real estate prices are inflated by at least 10 times their real value ...because a real estate have become a mean for speculation in which people invest and expecxt their money to i crease over time , that's also a good way for the banks to suck your blood

[sunamori6765]

Am I missing something or Jim has just given a brilliant lecture on economics in just 3 minutes?

Numbers for 2007 show UK had US$11.5 trillion in foreign debt and 110 billion/year in negative current account balance.

[vdveindhoven]

TERRIBLE ECONOMICs

tell tell tell what the debt is in the uk....

(germany = 1.5 trillion (biljoen))

[sunamori6765]

According to World Factbook Germany's external debt (2007 est.) was 4.5 trillion which was 135% of it's GDP, the 3rd biggest, after US and UK.

[vdveindhoven]

mmm i saw on german public tv that they were talking about it and show the debt clock.......

but ok i will check it later...... 4.5 trillion is even more HELL......

trust is good, checking is better !! tnx

[sunamori6765]

@vdveindhoven: Check the numbers for foreign debts at wikipedia, search for:

"List of countries by external debt"

Or go to the page I created, based on data published on wikipedia, which come from the World Factbook:

h t t p : // de . geocities . com / santsuma

Delete spaces.

[vdveindhoven]

yes i saw it on the factbook and wiki page, so your right about foreign debt......

but i will still search for what i saw on the german tv (still not found it) .... i just wanna know, because i trust the ard/zdf (german public) much more than the cia,google or wikipedia.......

but still i must search better and give the source........

tnx for the info and clear comment

greeeeeetz

[MossadAgentWatching]

there are 2 types of debts both very bad internal and external ...

[shouldlistentoronpau]

I love this guy! Why is it that people don't understand commonsense? Listen to Jim, politicians.

[UDoHaveMyName]

Thank you for posting this video, please NEVER stop uploading videos.

& LOL @ "First to Post" comments

so childish

( no offense)

[chroNick546]

First to post