I feel really sorry for the Greek people because their Government has signed them up to the criminal led EU. They have had their 2,000 year old Drachma currency replaced by the Euro of the Frankfurt European Central Banksters (ECB); and their Government has borrowed money from the IMF to pay for armaments from Germany and France that they do not need. The current Greek debt is thus odious and illegitimate and they should refuse to pay it as per their right in international law.
Greeks have 700 thousand people working directly or indirectly thru the system. 700.000*1500euros*12=12 billion euros * 10 years = 120 billions + interest = 150-200 billions. Thats why they are in debt. Because they were not making money. They didnt produced many things. There is also a huge corruption between the ordinary people (when you buy a souvlaki they dont give you a receipt so the state doesnt take 20% ...). And if you calculate all that, you can easily see that its 100% greeks fault.
Good video. It looks like for Greece a default will come one way or the other.
So bond holders will eventually take a hit....but wait, by now through the bailouts other European countries and the ECB are now biggest creditors. So the bond-holders are the taxpayers then...
if Greece has to go through all these....what about Luxembourg???? Spain? Portugal? Italy??? Norway?? Ireland went through this also but it had 7 TIMES BIGGER DEBT!!!!! look at the GDP coverage they have....GDP shows the health of an economy...
This guy is a f... moron, this guy is not only a criminal, he's very sick too. He stole a lot of money using 10 creditcards, the banks and IRS are after him big time and now he's trying to sell his house which is under a trust cause he's getting scared. And for all you women out there, don't ever date this guy, he will pretend he's such a nice decent guy, but instead he has a second agenda, he's very insecure as a man and he needs to mess up women's lives. Stay away from him.
What I don't get is how Germany ( the only productive, non - indebted Eurozone member) is so foolish as to pump more money into this dying patient (Euro). The Euro will collapse within the next 2 -3 years. What do you think about the idea that the collapse of the Euro will provide a temporary boost to the dollar, thus giving our economy a window to improve ( re. asset prices) before any major inflation kicks in, thus mitigating our problems; or am I just being too much of an optimist?
@7Highlander The reason why euro-zone countries and even non euro-zone countries such as my home country the UK are ploughing so much money into the euro is simple, if the euro crashes then basically everyone is fucked because it would be so expensive to recover from the euro crashing, because basically every economy is interlocked(especially in europe) and a collapse of one economy would start a domino affect on the rest of europe...this however is in it's extremely simplest form.
This guy is saying that the IMF doesn't actually bail out debt-ridden countries but actually bails out the rich people who hold government bonds issued by those countries.
He's implying that the reason the IMF prevents a country from defaulting is so that bond holders don't lose money, rather than to help out the country concerned.
the IMF is not giving away money is lending greece with 5% interest (doesn't sound exactly like bailout to me) so that "you" is going to greek taxpayers not taxpayers around the world, they bailout their government not you. You're a jerk, the IMF is a usurious political mechanism for imposing privatization.
@bacdafucup6 The IMF specializes in making loans that can't be repaid. They use our money to make the loan. Then when it can't be repaid, they go in and force the country to allow banks and corporations to plunder their assets and natural resources. So this guy is right, the loan is probably really a 'gift', at least as far as the US taxpayer is concerned. Read Confessions of an Economic Hitman to learn more about this.
If I'm not right correct me, but bailing out bond holders does not create more money. It just keeps it at the level when the bond was issued. Thus, no inflation. What it does is stop deflation.
If I'm not right correct me, but bailing out bond holders does not create more money. It just keeps it at the level when the bond was issued. Thus, no inflation. What it does is stop deflation.
Bush41 was also in power in 1989 with the S&L crisis. 75 B in taxpayer $ just to Texas S&L's. 160 B nationally. 2 taxpayer bailouts in 20 yrs. Given that it was a Bush & the GOP in office both times it wasn't socialism it was just a crisis thing. Bush put 3 wars off budget. *Socialist* Obama has all 3 in his "record" budget. How do u list 3 wars off budget? Given the above, how do you get away with calling anyone a socialist? Fascist? Commie? U just make it & ppl pretend to believe it.
Another exacto incapsulation of euro crash, the media and data analysists ect. are simply an insulation between average americans and big bankers, clearly it keeps people in the dark and misguided views, now if this done purpose i do not know(probably is) but this IS what is happening, its called pulling the "wool" over your eyes its just in a form that people do not expect at this level and honestly i think people are in denial in some cases..debt is the name of the game and everyone IS IN IT!
you forgot to mention that if you don't pay your taxes, the faggots called the u.s. govt will send you to jail at gun point(via our friends called the police dept).
What else can we buy besides land and gold? Some of us have only a little cash left in savings after mortgage and food expenses. Your suggestions is greatly appreciated.
Keep broadcasting the truth my friend, I would be happy to hear you repeat your core messages time and again because it will reach more people, and like you say; get the message out.
EXCELLENT VIDEO! I would only make one comment regarding buying land. I prefer productive land, not residential real estate. Productive land being farms or natural resources. Residential real estate might take a huge hit when interest rates rise, and under inflation they must.
@iamgabrielf First, state pensions are virtually mandated to invest in their sovereign bonds. So retirees that paid for the bailout via the IMF also benefit from the bailout by not only protecting against losses but continuing to also benefit from high yield instruments. Second, the US carries deficits. Saying US tax payers paid for a greek bailout is a half truth. US tax revenues can't even cover the current domestic budget. So part of the deficit paid for a bail out, not tax payer funds.
@lcbaudar, we pay for it with inflation. Some preferrred citizens, such as gov't employees receive some benefit, but the average ppl get none. Yet they suffer the inflated currency. I'm really getting sick of the avg citizen carrying the public employees and unions.
Also, monetizing losses only transfers them from the investors to the citizens. The value of the country's labor is lost. The wages may remain, but their purchasing power does not.
@iamgabrielf I agree - the pension system is a leach on productive labor. Try not to mix dollar devaluation with inflation though. With excess capacity in virtually every sector in the US, I don't think dollar devaluation would automatically mean the market will absorb higher prices. With stagnant and arguably falling wage value by decade, I expect gov. subsidies will have to compensate for any increase in cost (a la freddie/fannie).
@iamgabrielf Next, the bond market is not a fruitless market for the uber-rich. It helps banks issue credit, which allows business loans for successful ventures - which help create jobs. It allows consumer credit to help people buy homes, it funds state programs (albeit insolvent ones) like healthcare, schooling, state airports, etc.
@lcbaudar Sure pensions are some of the biggest bond holders (pension fund managers are generally terrible investors). But when govts bail out bondholders, it just shows up as higher inflation and lower government social expenditures - so it is generally a wash or a loss in the end for pensioners. As you point out, bonds help banks issue credit which is the final reason bonds are bailed out at our expense. I disagree that this bank monopolized credit is helpful - check out Austrian economics.
@lorax2013 True true...it's hard to compare these systems as they are not parallel universes. Private capital via local investors (a la mercantilism) or state issue money secured with productive assets (a la colonial scrip) would not support, let alone have created the hypertrophic public & private sectors we have today. Any way you roll the dice it's sizeable contraction. One begins to wonder if this contraction could maintain our current population... and if not, just what are we fighting for?
@lcbaudar Then why aren't the american banks loaning to small business and citizens more? Their risky bonds were bailed out by the govt so that credit could be easily available again yet the main loans being issued are between banks, not aimed at citizens and small biz.
@Nebbyker I wish it were so Julia. The fact is the Greek banks refused to buy the greek bonds unless the IMF loan was listed as a secondary loan (i.e. bondholders get paid first). Even the banks don't want that junk. Second - would you loan into a recession / depression? 20 % default rates, 18 months of consecutive unemployment? Banks are made of loan officers & underwriters, they see the writing on the wall...
Yes what you said is correct, but their days at the wheel are numbered, critical mass will take place, and an entirely new system will emerge, which will be fair for all.
Mark my word on this, if it doesn't happen, no one will survive, and you can take that to the bank.
What do you think about deflation. Do you think all the banks will get the money and not lend it out but with government intervention, they would suck it all back in so the money dont go out in the money supply?
Thanks for the reminder. Looks like the financial course I set is correct. I should have my home paid off by September. I think having your home paid off is about the greatest financial security a guy can have these days. If you lose your income, a mortgage payment can kill you. I measure my wealth by how long I can maintain my lifestyle without going into debt. Since I measure it that way, I (a simple working class diesel mechanic) am probably more wealthy than most doctors.
Banks allowed to fail=greater depression>not less credit, no credit,
billions more out of work, society stops, crime would take over.
"Well, it'll happen anyway"... maybe, but more time might mean more choices.
Conservatives have been screaming for decades about the Godless commies
taking us down FROM WITHIN. 30-1 credit reserves & the all the nice patriotic finance ppl did what 200+yrs of *socshallists & communisses* couldn't...
John Galt almost took this system down from within.
What most people don't realize is that there are 2 kinds of rich: 1) The super-rich who are well politically connected, and 2)The working rich who work 12 hour days and haven't taken a vacation in 20 years. This is why the politicians love to cry, TAX THE RICH! Because they know that the rich in group #1 will never be touched by the taxes, and by taxing the rich in group #2 they shut down any competition to those in group #1.
I think you might be conflating the term "rich" here. There's a huge difference between those that work and are pretty well off, and the rich that actually own real wealth (80% of the economy).
Why Germany is not in such a debt? Or Britain? Or Norway? Because they have healthy system, healthy mentality and working mentality not the lazy, greedy, corrupted greek/balkan one. Thats why Greece should be banned from EU to learn the lesson > you cannot take somebodys money and then accuse the "wealthy bankers" because they gave you the money. Now they make the same mistake > they take money to repay the loans interest. Its all crap
@bascelikdva Are you serious? Here the people take pills to be able to continue working. I see it all the time, people are breaking down because they work to much to pay bullshit they don't need. I don't know it what kind of business you are, but "real" Jobs kill most of the people, because of cutoffs. Do you know how many nurses work in 1 infirmary? ... 2 ! They have to take care of 30-50 annoying sick people by theirselfes.
By the way, germany is in such a debt. if i am right its about -1.5b
Very well explain. I thing that the wealthy get to suffer the loss as well at certain degree, from inflation 2- from not to able to collect all the missing taxes to recover the original amount. Also it is matematecly imbossible always transfer the loss down to the chaine, eventually it gets to you as well. What do you think?
In Greece pensions were still being paid to married and unmarried daughters of deceased parents,glaring incompetence.Lorax hit it on the head with lower levels of government service.Gordon Brown would have inflated the British Pound away to nothing!!
Thank you for your videos. You forgot to mention the corruption on the political scene of Greece. Most of the problems did not happen due to risky investments but due to abuse of public wealth. Contracts were made with politician's preferred beneficiaries, and put a huge amount of that wealth in their pockets. Our past governments also hired public employees in order to get votes. Those people were either not needed either did not meet the qualifications. I could say more but I 'd never end...
Does anyone remember in c. 1978 Italy was going "bankrupt"? It was going down and the world needed to bail it out. I guess "we" did. It's still there. Remember Enron? Billions of "our" money. Nations have gone to war over less. All Gone. Has anyone added up a "trillion"? silly numbers for silly rabbits. And since their is no "trillion" "Whom" is providing it? It doesn't exist. Maybe Italy dosen't exist either. How would we know? We can't even analyze a Building when it falls down-I mean Exploded
Eventually the system is going to collapse on itself...Lorax what do you think will happen after this? Is it more probable that we will take the right route and return to sound money and sustainable economy or is the world going to end in a rut (wars, massive poverty & unemployment, even revolutions?) Or something in between :)
Here in Ireland, they keep telling us that if we allowed the bond holders to take a loss, the global financial sector will stop investing in the country, and we'd ultimately go bankrupt.
If that's true then it sound to me like the global financial sector has a gun to our heads.
I have been screwed my whole life. Well now all of you get a taste of what I have gotten my whole life. A good ass screwing. Don't fret it only hurts at first.
@dabruin2 Since Ron Paul wasn't a final candidate, his donor numbers weren't compiled by the Center for Responsive Politics. I'll take a wild guess here and say Goldman Sachs & Citigroup weren't among his top contributors though.
@lorax2013 And for all you women out there, don't ever date this guy, he will pretend he's such a nice decent guy, but instead he has a second agenda, he's very insecure as a man and he needs to mess up women's lives. His game will take just as long as you'll let him. This guy is seriously sick, stay away from him.
Lets not forget another governmental service like public schools being drastically cut, they are pretty much grabbing at what makes success for the future and ripping it up to get their own pockets full. You may also want to look up a few other sources such as John Perkins and IMF,Greg Palast IMF, Vulture funds, World bank, Haiti and Iceland. The Greek crisis in Europe is the foothold for the IMF and World Bank to grab at Europe like it has South American and African countries. Nothing new.
@jimbobubbadj I seriously don't know how anyone could not be interested in knowing how best to face their futures. If there has ever been a time when the future trend of economics could be analyzed successfully, it is now.
slovak nerds kiss my ass
nekrothaftis88 5 months ago
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nekrothaftis88 5 months ago
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nekrothaftis88 5 months ago
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nekrothaftis88 5 months ago
Good thing I live in Canada ;)
HeardTheSound 6 months ago 2
I feel really sorry for the Greek people because their Government has signed them up to the criminal led EU. They have had their 2,000 year old Drachma currency replaced by the Euro of the Frankfurt European Central Banksters (ECB); and their Government has borrowed money from the IMF to pay for armaments from Germany and France that they do not need. The current Greek debt is thus odious and illegitimate and they should refuse to pay it as per their right in international law.
RedGoblinus 7 months ago
Greeks have 700 thousand people working directly or indirectly thru the system. 700.000*1500euros*12=12 billion euros * 10 years = 120 billions + interest = 150-200 billions. Thats why they are in debt. Because they were not making money. They didnt produced many things. There is also a huge corruption between the ordinary people (when you buy a souvlaki they dont give you a receipt so the state doesnt take 20% ...). And if you calculate all that, you can easily see that its 100% greeks fault.
bascelikdva 8 months ago
Was the word 'euro' mentioned at least once?
pawsoned 8 months ago
Good video. It looks like for Greece a default will come one way or the other.
So bond holders will eventually take a hit....but wait, by now through the bailouts other European countries and the ECB are now biggest creditors. So the bond-holders are the taxpayers then...
GREAT!
SparerDE 9 months ago
if Greece has to go through all these....what about Luxembourg???? Spain? Portugal? Italy??? Norway?? Ireland went through this also but it had 7 TIMES BIGGER DEBT!!!!! look at the GDP coverage they have....GDP shows the health of an economy...
Alexboooom 9 months ago
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This guy is a f... moron, this guy is not only a criminal, he's very sick too. He stole a lot of money using 10 creditcards, the banks and IRS are after him big time and now he's trying to sell his house which is under a trust cause he's getting scared. And for all you women out there, don't ever date this guy, he will pretend he's such a nice decent guy, but instead he has a second agenda, he's very insecure as a man and he needs to mess up women's lives. Stay away from him.
DutchGirl13131313 10 months ago
You keep dancing around the whole illuminati theme but you won't discuss it. Why?
Have you looked up the names of the owners of these banks? You'll find a repetition of names from banks all over the world.
jdbm03 1 year ago
so why doesnt the president just bomb the rothchilds and the u.n? and give all their money to us? I'd give my life for the world.
josh4rock 1 year ago
What I don't get is how Germany ( the only productive, non - indebted Eurozone member) is so foolish as to pump more money into this dying patient (Euro). The Euro will collapse within the next 2 -3 years. What do you think about the idea that the collapse of the Euro will provide a temporary boost to the dollar, thus giving our economy a window to improve ( re. asset prices) before any major inflation kicks in, thus mitigating our problems; or am I just being too much of an optimist?
7Highlander 1 year ago
@7Highlander The reason why euro-zone countries and even non euro-zone countries such as my home country the UK are ploughing so much money into the euro is simple, if the euro crashes then basically everyone is fucked because it would be so expensive to recover from the euro crashing, because basically every economy is interlocked(especially in europe) and a collapse of one economy would start a domino affect on the rest of europe...this however is in it's extremely simplest form.
trico0712 1 year ago
@7Highlander so whether you love or hate the euro, you will regret the day that you were wishing for the euro to collapse.
trico0712 1 year ago
I actually love you!!!! thanks you so very much!!!!!!!
CaptainCornmeal 1 year ago
Damn. I love this guy's videos. He's always succinct and on the money, and offers solutions.
nonchalantd 1 year ago
can i suck your c0ck please?
Hunting4TheLight 1 year ago
This guy is saying that the IMF doesn't actually bail out debt-ridden countries but actually bails out the rich people who hold government bonds issued by those countries.
He's implying that the reason the IMF prevents a country from defaulting is so that bond holders don't lose money, rather than to help out the country concerned.
Has anyone got any evidence of this?
Gary190tube 1 year ago
This is only half of the story,
Russia offered to cover the dept (refused),
China offered (refused),
So G.A.P. presented the inevitable solution of F.IMF.
MrDiscrimination 1 year ago
Your lower lips are so big because you blow a lot ?
MrDiscrimination 1 year ago
the IMF is not giving away money is lending greece with 5% interest (doesn't sound exactly like bailout to me) so that "you" is going to greek taxpayers not taxpayers around the world, they bailout their government not you. You're a jerk, the IMF is a usurious political mechanism for imposing privatization.
bacdafucup6 1 year ago
@bacdafucup6 The IMF specializes in making loans that can't be repaid. They use our money to make the loan. Then when it can't be repaid, they go in and force the country to allow banks and corporations to plunder their assets and natural resources. So this guy is right, the loan is probably really a 'gift', at least as far as the US taxpayer is concerned. Read Confessions of an Economic Hitman to learn more about this.
TreachMarkets 1 year ago
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NEO TROKTIKO! Troktiko-Blog[.]blogspot[.]com
apportksmk 1 year ago
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If I'm not right correct me, but bailing out bond holders does not create more money. It just keeps it at the level when the bond was issued. Thus, no inflation. What it does is stop deflation.
jimmdon 1 year ago
If I'm not right correct me, but bailing out bond holders does not create more money. It just keeps it at the level when the bond was issued. Thus, no inflation. What it does is stop deflation.
jimmdon 1 year ago
danger0usknowledge 1 year ago
Another exacto incapsulation of euro crash, the media and data analysists ect. are simply an insulation between average americans and big bankers, clearly it keeps people in the dark and misguided views, now if this done purpose i do not know(probably is) but this IS what is happening, its called pulling the "wool" over your eyes its just in a form that people do not expect at this level and honestly i think people are in denial in some cases..debt is the name of the game and everyone IS IN IT!
ClintonLee0711 1 year ago
you forgot to mention that if you don't pay your taxes, the faggots called the u.s. govt will send you to jail at gun point(via our friends called the police dept).
ne0nsurf 1 year ago
What else can we buy besides land and gold? Some of us have only a little cash left in savings after mortgage and food expenses. Your suggestions is greatly appreciated.
moniequa 1 year ago
Loren, you are a legend!!!
Keep broadcasting the truth my friend, I would be happy to hear you repeat your core messages time and again because it will reach more people, and like you say; get the message out.
Peace.
ThereAreNoSides 1 year ago
welcome to the free trade system
NeoMorpheus911 1 year ago
privatize gains, socialize losses - fascism
clarkcolt45 1 year ago
thanks for the great video, please keep making them we need individuals like you.
Rubmer 1 year ago
godamn, fuck the rich bitches.
mrzack888 1 year ago
Oh my god!!! You said it like it is. You are so cool!!! I liked this video!!!!
Hulkmania316 1 year ago
Im so glad you are available for me to listen to. :)
( I just have to admit even with my computer on full sound its still a little quite.)
juliachildsvoice 1 year ago
I always appreciate your videos. Thanks
langtangticky 1 year ago
are you a quadriplegic?
YukonBloamie 1 year ago
Eliminate the super rich by taxing inheritance by placing a $10 million cap that can be passed down to their children.
When the rich invest, they are like players in a casino, the only difference is their money is given back to them if they lose.
DeluxeGoldTop 1 year ago 2
Goldman put their money w/Obama b/c they knew they'd be in trouble.
Chris Hitchens was the only one with the stones to say in public that the
McCain/ Palin team was nominated by the RNC to lose. Kristol & Cheney
set the trap & Obama walked into it knowing that high unemplm't meant
1 term which is what Obama was laughing about on the "60 Minutes" interview. Which party is holding Goldman's feet to the fire?
Not republicans. Anyone who equates republicans & mocrats is living inside a teabag.
danger0usknowledge 1 year ago
EXCELLENT VIDEO! I would only make one comment regarding buying land. I prefer productive land, not residential real estate. Productive land being farms or natural resources. Residential real estate might take a huge hit when interest rates rise, and under inflation they must.
iamgabrielf 1 year ago
sorry but you got this wrong.
finch1s 1 year ago
@finch1s Please elaborate. I'm very interested in hearing opposing views. Thanks.
iamgabrielf 1 year ago
@iamgabrielf First, state pensions are virtually mandated to invest in their sovereign bonds. So retirees that paid for the bailout via the IMF also benefit from the bailout by not only protecting against losses but continuing to also benefit from high yield instruments. Second, the US carries deficits. Saying US tax payers paid for a greek bailout is a half truth. US tax revenues can't even cover the current domestic budget. So part of the deficit paid for a bail out, not tax payer funds.
lcbaudar 1 year ago
@lcbaudar, we pay for it with inflation. Some preferrred citizens, such as gov't employees receive some benefit, but the average ppl get none. Yet they suffer the inflated currency. I'm really getting sick of the avg citizen carrying the public employees and unions.
Also, monetizing losses only transfers them from the investors to the citizens. The value of the country's labor is lost. The wages may remain, but their purchasing power does not.
iamgabrielf 1 year ago
@iamgabrielf I agree - the pension system is a leach on productive labor. Try not to mix dollar devaluation with inflation though. With excess capacity in virtually every sector in the US, I don't think dollar devaluation would automatically mean the market will absorb higher prices. With stagnant and arguably falling wage value by decade, I expect gov. subsidies will have to compensate for any increase in cost (a la freddie/fannie).
lcbaudar 1 year ago
@iamgabrielf Next, the bond market is not a fruitless market for the uber-rich. It helps banks issue credit, which allows business loans for successful ventures - which help create jobs. It allows consumer credit to help people buy homes, it funds state programs (albeit insolvent ones) like healthcare, schooling, state airports, etc.
lcbaudar 1 year ago
@lcbaudar Sure pensions are some of the biggest bond holders (pension fund managers are generally terrible investors). But when govts bail out bondholders, it just shows up as higher inflation and lower government social expenditures - so it is generally a wash or a loss in the end for pensioners. As you point out, bonds help banks issue credit which is the final reason bonds are bailed out at our expense. I disagree that this bank monopolized credit is helpful - check out Austrian economics.
lorax2013 1 year ago
@lorax2013 True true...it's hard to compare these systems as they are not parallel universes. Private capital via local investors (a la mercantilism) or state issue money secured with productive assets (a la colonial scrip) would not support, let alone have created the hypertrophic public & private sectors we have today. Any way you roll the dice it's sizeable contraction. One begins to wonder if this contraction could maintain our current population... and if not, just what are we fighting for?
lcbaudar 1 year ago
@lcbaudar Then why aren't the american banks loaning to small business and citizens more? Their risky bonds were bailed out by the govt so that credit could be easily available again yet the main loans being issued are between banks, not aimed at citizens and small biz.
Nebbyker 1 year ago
@Nebbyker I wish it were so Julia. The fact is the Greek banks refused to buy the greek bonds unless the IMF loan was listed as a secondary loan (i.e. bondholders get paid first). Even the banks don't want that junk. Second - would you loan into a recession / depression? 20 % default rates, 18 months of consecutive unemployment? Banks are made of loan officers & underwriters, they see the writing on the wall...
lcbaudar 1 year ago
lorax are there any books you can recommend on this topic
69elpresidente 1 year ago
Its a crazy world when rich people pass their losses onto the poor who can't afford them. The second comings coming when? Not soon enough!
2JOHNNYT 1 year ago
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great video
Zoootex 1 year ago
Award winning video to match your award winning hairdo!
Iseeyoursoul 1 year ago
Interesting vid.
gerry2345 1 year ago
thanx mr howe. great video as always.
topheramazz 1 year ago
Yes what you said is correct, but their days at the wheel are numbered, critical mass will take place, and an entirely new system will emerge, which will be fair for all.
Mark my word on this, if it doesn't happen, no one will survive, and you can take that to the bank.
freepress666 1 year ago
Excellent video!
drutter 1 year ago
What do you think about deflation. Do you think all the banks will get the money and not lend it out but with government intervention, they would suck it all back in so the money dont go out in the money supply?
charlesfuchs 1 year ago
well put !
SilverWealth23 1 year ago
Too quiet.
tbgx1 1 year ago
Well said my friend.... peace to you
lookupwakeup 1 year ago
Thanks for the reminder. Looks like the financial course I set is correct. I should have my home paid off by September. I think having your home paid off is about the greatest financial security a guy can have these days. If you lose your income, a mortgage payment can kill you. I measure my wealth by how long I can maintain my lifestyle without going into debt. Since I measure it that way, I (a simple working class diesel mechanic) am probably more wealthy than most doctors.
vention4wh 1 year ago
@vention4wh Financially smarter too. Good job!
brianempson 1 year ago
Your videos are highly appreciated.
A Corruption is the mother of sovereign debt crisis.
konshoff 1 year ago
thanks for once again cutting through all the nonsense and telling people like me what's really going on missed your videos thanks again
mrace84 1 year ago
Banks allowed to fail=greater depression>not less credit, no credit,
billions more out of work, society stops, crime would take over.
"Well, it'll happen anyway"... maybe, but more time might mean more choices.
Conservatives have been screaming for decades about the Godless commies
taking us down FROM WITHIN. 30-1 credit reserves & the all the nice patriotic finance ppl did what 200+yrs of *socshallists & communisses* couldn't...
John Galt almost took this system down from within.
danger0usknowledge 1 year ago
I was so happy to see a video by you when I got up this morning. YAY! keep em coming =D
GungnirStrike 1 year ago
What most people don't realize is that there are 2 kinds of rich: 1) The super-rich who are well politically connected, and 2)The working rich who work 12 hour days and haven't taken a vacation in 20 years. This is why the politicians love to cry, TAX THE RICH! Because they know that the rich in group #1 will never be touched by the taxes, and by taxing the rich in group #2 they shut down any competition to those in group #1.
sofiamarmeladova 1 year ago 18
@sofiamarmeladova So true!! Those lower on the economic totem pole don't understand this and thus suffer.
teachme2fish 1 year ago
@sofiamarmeladova
I think you might be conflating the term "rich" here. There's a huge difference between those that work and are pretty well off, and the rich that actually own real wealth (80% of the economy).
parkj238 1 year ago
@sofiamarmeladova My heart bleeds for you...
Pseudologic 1 year ago
@sofiamarmeladova
Too true dude!
G777GUN 1 year ago
Why Germany is not in such a debt? Or Britain? Or Norway? Because they have healthy system, healthy mentality and working mentality not the lazy, greedy, corrupted greek/balkan one. Thats why Greece should be banned from EU to learn the lesson > you cannot take somebodys money and then accuse the "wealthy bankers" because they gave you the money. Now they make the same mistake > they take money to repay the loans interest. Its all crap
bascelikdva 8 months ago
@bascelikdva Are you serious? Here the people take pills to be able to continue working. I see it all the time, people are breaking down because they work to much to pay bullshit they don't need. I don't know it what kind of business you are, but "real" Jobs kill most of the people, because of cutoffs. Do you know how many nurses work in 1 infirmary? ... 2 ! They have to take care of 30-50 annoying sick people by theirselfes.
By the way, germany is in such a debt. if i am right its about -1.5b
seromaynh 7 months ago
@sofiamarmeladova
It won't matter, this time around both scab groups get taken in the arse hard . . . absolutely beautiful. :)
theroilsoil 5 months ago
Thanks,well done
slicardy1 1 year ago
Lorax2013 for the win. Great work.
KevZen2000 1 year ago
Fuck the wealthy..I wanna murder every wealthy fuck
FadedHolySoulja 1 year ago
Very well explain. I thing that the wealthy get to suffer the loss as well at certain degree, from inflation 2- from not to able to collect all the missing taxes to recover the original amount. Also it is matematecly imbossible always transfer the loss down to the chaine, eventually it gets to you as well. What do you think?
Alexiscom1 1 year ago
In Greece pensions were still being paid to married and unmarried daughters of deceased parents,glaring incompetence.Lorax hit it on the head with lower levels of government service.Gordon Brown would have inflated the British Pound away to nothing!!
drfan2004 1 year ago
Amazing, Zero negative reviews. You hit the nail right on the head :)
WulfBand 1 year ago
Thank you for your videos. You forgot to mention the corruption on the political scene of Greece. Most of the problems did not happen due to risky investments but due to abuse of public wealth. Contracts were made with politician's preferred beneficiaries, and put a huge amount of that wealth in their pockets. Our past governments also hired public employees in order to get votes. Those people were either not needed either did not meet the qualifications. I could say more but I 'd never end...
JustIannis 1 year ago 3
The reason the rich are getting bailed out because they also know what makes the bond good is what makes the money good.
davincij15 1 year ago
excellent! thank you
fatpius 1 year ago
Very well said.
mike29571 1 year ago
Does anyone remember in c. 1978 Italy was going "bankrupt"? It was going down and the world needed to bail it out. I guess "we" did. It's still there. Remember Enron? Billions of "our" money. Nations have gone to war over less. All Gone. Has anyone added up a "trillion"? silly numbers for silly rabbits. And since their is no "trillion" "Whom" is providing it? It doesn't exist. Maybe Italy dosen't exist either. How would we know? We can't even analyze a Building when it falls down-I mean Exploded
IExposeMormonism 1 year ago
Thanks
gavazzfromoz 1 year ago
Eventually the system is going to collapse on itself...Lorax what do you think will happen after this? Is it more probable that we will take the right route and return to sound money and sustainable economy or is the world going to end in a rut (wars, massive poverty & unemployment, even revolutions?) Or something in between :)
Flexo1986 1 year ago
Very well explained - Thaks very much
zalida100 1 year ago
It's a bloody outrage. Time to take to the streets.
KiaOra53 1 year ago
Here in Ireland, they keep telling us that if we allowed the bond holders to take a loss, the global financial sector will stop investing in the country, and we'd ultimately go bankrupt.
If that's true then it sound to me like the global financial sector has a gun to our heads.
BipedalHumanoid 1 year ago 2
I can hardly hear you. Please turn up your volume when making your vids. Excellent video thanks
caganb 1 year ago
Another great post. Thanks Lorax
SOCRATES012 1 year ago
Beautifully stated.
BackBurnerNews 1 year ago
I have nothing to add. I think you've covered it all. Excellent, clear and concise.
cybersphere 1 year ago 2
Louder!
zufelt2 1 year ago
We are at a very unique time in history and it is not likely a time we will look back on and applaud..
wilsonpwt 1 year ago
I have been screwed my whole life. Well now all of you get a taste of what I have gotten my whole life. A good ass screwing. Don't fret it only hurts at first.
valhala56 1 year ago
Where's Ron Paul on this list?
dabruin2 1 year ago
@dabruin2 Since Ron Paul wasn't a final candidate, his donor numbers weren't compiled by the Center for Responsive Politics. I'll take a wild guess here and say Goldman Sachs & Citigroup weren't among his top contributors though.
lorax2013 1 year ago 11
This has been flagged as spam show
@lorax2013 And for all you women out there, don't ever date this guy, he will pretend he's such a nice decent guy, but instead he has a second agenda, he's very insecure as a man and he needs to mess up women's lives. His game will take just as long as you'll let him. This guy is seriously sick, stay away from him.
DutchGirl13131313 10 months ago
Lets not forget another governmental service like public schools being drastically cut, they are pretty much grabbing at what makes success for the future and ripping it up to get their own pockets full. You may also want to look up a few other sources such as John Perkins and IMF,Greg Palast IMF, Vulture funds, World bank, Haiti and Iceland. The Greek crisis in Europe is the foothold for the IMF and World Bank to grab at Europe like it has South American and African countries. Nothing new.
AlterEgoTrip 1 year ago
You're on a roll! Keep em coming! :-)
MrFredGSanford 1 year ago
Thanks Lorax, Peace
PeaceIsRad 1 year ago
This message needs to get out. Most Americans don't want to hear "bad" news but somehow it must be drilled into their heads! *****
jimbobubbadj 1 year ago
@jimbobubbadj I seriously don't know how anyone could not be interested in knowing how best to face their futures. If there has ever been a time when the future trend of economics could be analyzed successfully, it is now.
chris3443 1 year ago
i like your clear and concise videos.
xadart 1 year ago
It's damn good to have you back and making videos, man.
MajeauX 1 year ago 2
first
LJPpro 1 year ago