39:32 It's no coincidence there's a woman represented in the cartoon there looking for special favors from the government to satiate her immediate gratification with little care for justice or the good of her community, when she could consult her husband on a personal and local level first rather than what only benefits her wants and needs. Ring a bell anyone? Bueller? Bueller?
@cragmac1000 , Reckless loans given to Women, minorities, businesses, housing, schools and farmers etcetera. These are would be loans created by a government whose people have no surplus savings backed up by tangible saved fish (for instance think: Fish = Gold.) These loans are I owe you's backed by I owe you's (credit).
21:10 Says all you need to know about our current economic situation. Just substitute in Fannie Mae and Freddie Mac's mortgage loans of the early and middle 2000's and the fact that women and children constantly over consume and care little about savings putting a burden on the honest working men that do save and invest wisely.
couldn't people just be happy with having only the bear minimum? working together to only have what they need to survive? if we didn't know about better standard of living maybe we'd be ok? it would be better for the environment and restrict population growth.....allowing the human race to last longer.........i wonder if lasting longer is worth anything though? seems to me ONLY a market driven, productive capital economy can work.
the fish come from the commons... the guy with the net is now able to catch all the fish, so the other two have no option but to indenture themselves to the guy with the net, receiving substinance wages of 1 fish per day. welcome to the world we live in.
@express375 land and natural resources are scarce, by definition. the commons (in this case, the fish) is not an unlimited resource. instead of fish, think Oil and Coal. If all the land is owned by one person, you will always be indentured to your landlord. That's serfdom, not liberty. The debt system you describe is the system we live under today, a system of debt slavery to banks who create money out of nothing.
@express375 i may have a negative attitude about serfdom... Back to the analogy: If I fish out all the fish with my net, then you must indenture yourself to me if you want to live. I may even hire you to fish for me, but all the fish you catch would be mine.
Your trying hard not to understand.I'm sure you see the truth really,it just takes a while to reprogram the crap we've been fed before the internet opened us all to the truth.
@express375 look... I'm not in the mood to argue with anarchists or paleo-conservatives or neo-libertarians or birchers or birthers... just let it slide. I'm working on my own videos. I just watched this one on behalf of a friend, and I know who Irwin Schiff is/was back in the 90s so ... lets just let it go, ok?
The socialist perspective would be that Baker and Charlie were entitled use of the fishing net whenever Able wasn't using it. However, this would destroy a lot of incentive for building capital in the first place (most build capital for a profit motive). Not to mention there'd be little point in producing capital if it meant you could just get the same earnings as a producer of capital without hard work.
The mutualist perspective would be that it is okay for Able to have exclusive ownership over the capital and decide what he wants to do with it, but he is not allowed to charge anyone for anything other than the maintenance costs if he does rent it out. This is quite silly because again he gains nothing. Perhaps he would lend it out to those close to him, but he would have no reason to lend it out to anyone else he wasn't close to.
@DoctorCapitalist Even if we assume altruistic motives on the part of the capital producer there's still the problem of economic organization. In a large society there will be many people interested in using capital. How can we decide who should get to use what. First come, first serve? A lottery? Making capital available to the highest bidder means it will tend to go to the person who can make best use of it, improving overall economic efficency.
It's my opinion that every major problem the USA faces is directly due to the government. Yes, they are the cause of our problems: drugs, 47% not paying income taxes, the great recession, health care problems, everything. All of it.
37:14 What if the 'old hobo' is in his economic situation through no fault of his own? For instance, what if his home were burned down by criminals, or what if his place of work decided that old people weren't productive enough and with loss of income he lost his home and was unable to find work because no one would hire an old hobo.
@Laughingblades - "What if the old hobo is in the situation through no fault of his own..." sounds a lot like "I'm lazy but it's not my fault." Look up "hobo" in the dictio--er, I mean on your phone.
The banker has no incentive to invest in a not-for-profit venture, even though it's to the benefit of the community. The bank is not a charity, it exists to make a profit.
Banks intentionally make bad loans to people they know will be able to produce an income but will be unable to pay off the loan before hidden deadlines or due to risk factors the banks know they have. The purpose of this is to trap people in perpetually compounding debt that can never be paid off, to make the worker a debt slave.
@Laughingblades - My experience has been quite the opposite, though I've never borrowed more than $20,000 at any given time. Maybe you're referring to people who take out loans they can ill-afford.
@Laughingblades - This defies logic. If people can't pay their loans back to the banks make less money. If those people could sell their lives to the banks--slaves, essentially--they'd do it, but the banks aren't allowed to accept that kind of payment. Your statement is ridiculous. You are describing the legal system, however.
I was wondering if that statement was contradictory.
On the one hand, the case is made that banks will do whatever for profit. Fair enough.
On the other, the issuance of bad loans to keep people in a perpetual state of slavery. -How can profit be derived when the slave cannot pay it back? I mean, if I lent $300 to someone who couldn't pay it back, then -I- am -also- *out of $300,* not just the slave. Credit issuance is not a situation most would want to be in.
I guess insofar as usury is involved, but it would be financially retarded to put someone in a state of consistent debt only to gain -small usury- payments from them -at a slow rate of time- as opposed to "reaping mass profit" in a quick manner by affordable interest payments. lol. Again, me loaning someone $300 only to receive $5 a month and keep them in slow slavery, or $300 with something like $10 a month? Fast cash vs. slow gain.
22:00 is a lie and I was about to go into why but I realized that this was made by Irwin Schiff, who didn't understand concepts like hoarding, exploitative treatment of workers (IE 12 hour work days for children who are barely paid enough to eat), the need for a social safety net (maybe the rich capitalist doesn't understand the need for it, but workers who lose their jobs can starve and lose their homes before they find a new one, and we all get old, and any could be rendered disabled)
20:00 The Saving Analogy is flawed because it uses a renewable readily obtainable ocean resource as the object of savings. In a capitalist society, if the object being saved were currency, it's accumulation would remove it from circulation, the more savings were hoarded the greater the cost would be to the community. Prices may adjust but in a real society outside of this ideal capitalist imagination land, they do not adjust uniformly and are subject to external pressures.
^ In America this very real problem of hoarding is offset by the creation of fiat currency that holds no resource based value (as gold would), so this allows for the ever more accumulation of money by big businesses, which allows them tremendous spending power, and also leads to inflation.
But if the inflation rate matched the money actually produced, that is to say if it wasn't hoarded into the hands of a few, inflation would skyrocket due to the fiat system.
11:30 is a lie. The capitalist can trap the workers in an inescapable exploitative situation because the worker's choices are limited to available feasible options, and the capitalist can turn a profit somewhere else.
For example, a capitalist can hire third world workers to work 12-14 hour days for barely enough to eat because their economy is devastated and they are desperate, their earnings will be consumed, and the capitalist can sell goods in first world country.
@Laughingblades so you think those people should starve?! what kind of beast are u ?! yes, banks would avoid making bad loans if the state didn't cover them ... since bad loans usually mean loss...
and yes they did benefit together from the beginning but only able took a risk ...
also go learn some economics! sheesh!
oh and this mondragon-banking, capital&consumer goods, retail...where have i heard those before?? ans it's a freaken corporation! something tells me u have a lot of thinking to do
9:05 He starts contemplating how to prevent the worker from being able to feasibly advance so that he can keep them in perpetual servitude. What if they all worked together from the beginning to share the risk and rewards? Oh no, that would lead to everyone's prosperity and no one's servitude and that would be a cooperative.
What if after the two workers paid off the cost of the nets they were allowed co-ownership. Part of the moral seems that workers are stupid beasts only fit to serve.
at minute 20: there is a huge assumption that Able, who has amassed very little despite his continuous savings and productivity (where did his other 4 fish go?), is actually willing to part with his savings for no reason other than the benefit of society (though ultimately the survival of society will benefit him, something like an investment but in a more emergency situation)
starting at minute 14...then Able comes in and says "I loaned you fish so that you could make your big fish catcher, and even though you only owe me one more fish each I'm going to take your fishcatcher for myself because I think it'll return more money to me."
@dubya13207 then Able turns around and uses his new fish trap industry to gain him 20 fish a day. he decides to pay Baker and Charlie 2 fish a day for working the trap, and he gets 16 fish to keep for himself or use as capital later
its not just america, its everywhere around the world that uses this kind of monetary system. Its just happening really bad in america now because the economy has grown to an extent where it is unsustainable anymore. This is no surprise any civilization goes through this, the Roman Empire did. Its all part of the economic cycle BUT life will still go on that's for sure.
these video just summarised everything my blog talks about. In essence a human economy is all about struggle for resources, to improve life its all about resources struggle.
@Ravengaurd6 "when it explains factors the way they are. " Yep. Because Capitalism has totally existed since the beginning of humanity and it totally didn't emerge after State violence. "What is YOUR system?" Council Communism.
@cogar48 capitalism is not my game because i disagree with the nature of a monetary system where the currency is monopolized by the government. I'm all about free markets and voluntarism,because they are more efficient and morally superior than any form of central planning where the fulcrum of their influence is coercion and their limited knowledge is exceeded by the emergence of material situations as they occur in real time. it's better for people to demand and move resources as it fits THEM.
@cogar48 The video illustrates the basics of capital oriented economics. It doesn't go away with mutualism, anarcho-collectivism, or any form of left anarchism (except for the utopian forms which aren't even logical in terms of marxism or related political and economic theories).
@cogar48 agree all i see here is greed and not working for the good of the community they are being greedy by working for them self and only helping others if they paid any kind of capital.
@cogar48 no im not the political type of person, in reality you dont need to built a brand new economic system to fix our current problems and giving it a new name. just fix the problems that are making the economy change in the first place, i mean i dont think all countries need the same type of economy.
But to suggest that the government has and never will create any value is absolutely absurd. As if the infrastructure of this entire society has no value.
If private actors owned the roads, all the water or if you will all the access to "fishing grounds" we would essentially be a monarchy.
The original owners would own everything and would use their power to destroy technologies that would circumvent their rent seeking position.
Thats whats happening right now with the internet.
Private actors own farms, so how does this get us closer to monarchy? With competition food is so cheap we eat for recreation and or overweight. The history of how the Board game Monopoly was made is interesting but suffice to say the world does not work like that game. The larger a company is the easier it is to out maneuver them.
This is a good cartoon and has a lot of info but he placed too much blame of FDR. The Federal Reserve began with Wilson & kept going under republicans Coollidge & Hoover. FDR had flaws but he helped Mr average get through the Depression & WWII. All presidents both Democrat & Republican have followed similar economic policies over the years and we thus live with a "Boom & Bust" cycle & the poor fight the banker's & ceo's wars. The USA was stronger after FDR from 1945-2007. Sorry Mr. Schiff.
This is a good cartoon and has a lot of info but he placed too much blame of FDR. The Federal Reserve began with Wilson & kept going under republicans Coollidge & Hoover. FDR had flaws but he helped Mr average get through the Depression & WWII. All presidents both Democrat & Republican have followed similar economic policies over the years and we thus live with a "Boom & Bust" cycle & the poor fight the banker's & ceo's wars. The USA was stronger after FDR from 1945-2007. Sorry Mr. Schiff.
@farcher3 war isn't good for the economy. FDR isn't the only one to blame, your right that Wilson, Hoover, and almost every other politician is to blame. But FDR's policies weren't helpful. We didn't get out of the depression till 1945....AFTER the war. not during all the new deal programs that were passed. FDR popularized redistribution of wealth...that is why the cartoon focuses on him.
@frionelhero Correct about the effect of FDR's policies & YES the massive buildup & the fact that europe & Japan were bombed out & thus USA was top dog helped. BUT the New Deal has a great pyschological effect for the people as it did provide some work : Tenesee Valley Authority, WPA etc. Obama may loose in '12 not just because of his bad policies but his obession with Reagonomics in a 30s type economy. People could feel that he doesn't care about the poor & elderly. His supposed constituentcy.
@frionelhero Further, Obama kissing up to big corporations with mega tax breaks and them STILL not trusting him while contemplating cuts to entitlements as angering the LEFT to no end. Wall ST & the corporation has $1trillion dollars stored up & the banks were bailed out in '07. Yet Mr & Ms average have no relief. The '09 Recovery was a Fed Reserve lie to cover Obama & his reagonomics. The Far right LOVES now to rewrite history to make FDR the WORST human of all including Hitler .
@frionelhero Reagan's deregulation plan was OK for '81 and brought the unemplyment rate to 7.5 by 1984. But he instilled hope. Again, this was good for a post 70s era. FDR knew that in the 30s with Hooverviles etc people had to be hired at something or there would be a civil war. I like both Reagan & FDR. Obama is the MOST Wall Street-controlled president since Wilson & if he doesn't wake up even the constant pro-Obama media brainwashing won't save him from the sans-cullotes of America. PEACE
@farcher3 I'm no conservative, I believe Reagan had his problems as well. But despite the claims that state otherwise, there was more deregulation under Carters administration than under Reagan. The economy was bad under Carter because of Nixon getting us off the gold standard, continuing the war in Vietnam, and trying price controls. Besides, you can't blame OR credit any ONE person for a economy. That implies central economic planning...which DOESN'T work.
@justicetrooper haha true, but it is a fan video. Irwin Schiff, the author, is actually in federal prison because of his principled stand against the income tax ;)
Cool, they talk about real fish and offical(legal) fish. They comfiscated real fish and made it a crime to possess, making them exchange all real fish for legal fish.
This is obviously what happened to gold and silver...
The end truth is "hope you all can fish", to me thats saying hope you all have gold.
FUCK!!!!! The Recession is the government's fault!!! Those motherfuckers have been stealing from us this entire time!!!! Devaluing our currency with their fucking scams!!!!
@djsuperstar717 It's not all the government's fault but the fact that you have a government owned by big businesses, banks, defense contractors, and corporations, a government that refuses to clean up it's act or serve the American people, a government that refuses to streamline it's programs and reduce bureaucracy or other wasteful spending, and a government that throws money away on pork barrel projects for big bribe donors, is a big party of the problem.
I think there is a fundamental diffrence between europe and ameica, erueope has always been ruled by kings and queens then it transitioned in to big goverment while america started off liberated with a small goverment and has grown in to a beurocratric mess
The Rothschilds are enslaving the People of the US via the fraudulent criminal conspiracy known as the illegal, unConstitutional Federal Reserve. The entire US government is now simply a puppet of the Rothschild banking dynasty.
“End the Fed”
Every political candidate must be evaluated based upon this single all telling crucial issue. You are either with the People or you are with the Rothschilds and their agents, the international bankers.
It is neither left-wing nor right wing. Both the left and right want to meddle in innocent people's lives, be it for different purposes. The video advocates a system based on voluntary action and transaction.
I love how you put them all on the bread line to start with.
What i suspect would have happended in your small scale analogy is exactly what would happen in any pacific island today, the net maker would have been supported by his other fishers upon presentation of his plan to the others because it would benefit his community. And he would have shared it because he is not a selfish ****, and moreso realises the next invention may be made by someone else to his benefit. Until banks arrive anyway
I love how you put them all on the bread line to start with.
What i suspect would have happended in your small scale analogy is exactly what would happen in any pacific island today, the net maker would have been supported by his other fishers upon presentation of his plan to the others because it would benefit his community. And he would have shared it because he is not a selfish ****, and moreso realises the next invention may be made by someone else to his benefit. Until banks arrive anyway.
This is quite simplified and typically American view of government vs economy. Take a look at the Nordic countries of Europe there the economy is highly regulated by the government. They have among the highest taxes and standards of living, Unregulated Capitalism is not the ideal solution. Just a note: the current crisis is caused by the banks willingness to approve high risk mortgages, and government loosening of fiscal control .
@007sharker Why don't you move to one of those (utterly boring) Nordic paradises? Herd mentality & compulsory mediocrity don't interest me. One's life is much too short. And only a sucker believes that it's a team sport. Life is war: it's played for keeps. When was the last time Norsemen ruled the roost? America is the World's sole power because it's by far the World's source of innovation and its concomitant entrepreneurship and venture capital, because of individual ingenuity and risk-taking.
@007sharker - Any system will work in Sweden - including Socialism (for a while). I think the reasons are: A) high moral standard and low crime rate (at least before all the third worlders arrived). Low crime and predictability is very important for the investors (here is an investor: 01:53). You need to invest BEFORE you can produse so that you can eat. B) decent IQ.
"Loan out something you don't have is trickery and fraud"
Really? Then every bank in the world is a fraudulent trickster. There may be a limit on the # of fish, but there's no limit to the number of dollars that can be printed and loaned. They also don't reject loans on the grounds that they're frivolous, they grant loans that they believe will make them net profit. Google "loan sharking"
This is a child's view of market economics. Not all millionaires got their money by producing goods and catching fish. In our modern world, most rich people got that way by advertising and moving money around. A casual reading on the history of Robber Barons disproves the "nobility" of unrestrained capitalism.
@bishop8000 actually the majority of millionaires got it through inheritance.
They sustain their rent seeking positions by discouraging innovation that threatens it.
You are correct most create wealth and little else. The markets no longer adhere to reality, but to the whims of the supper rich to suit their own needs.
If you tell me Ables bank dose you would be incorrect
Who creates or issues the fish/interest money?
If you tell me Ables bank dose ,baker or Charlie you would be incorrect.
What if Ables bank kept the fish/interest & fish/principal repayments & never loaned out the interest/principal fish repayments ? See who creates/issues the fish money and THINK..?
This fish parable is preposterous, ridicules & absurd because its not how banking really works.
Economy is just another form of rhetoric and rhetoric is THE tool of control over the humand mind , Plato. That being said income tax is evil but the government always wanted more and more money they started the civil war to impose tax on southern ports and break the economical backbone of the south.
Cooperation is the base of human evolution and that stuff is all about exploitation. That's why our system is gone fucked up , we used to have Christianity as a sort of moral barer but now that is gone lets go make profit. I feel bad for people who really think arithmetic can explain everything. Here is a sample example of the limit of arithmetic. We have been told at school that X+Y=X+Y well if you follow that concept we don't exist because X(mother)+Y(father)= X+Y+ you (Xor Y).
This is really for children , I've stopped watching it after five minute when the guy refuse to lend his net. You know how reality work? The 2 would have beat up this selfish bastard and he would have ended being badly injure,without fishnet and friends. Why don't he show them how to make one? He would lose his precious time which is the real capital I guess. That's so jewish , christianity had a lot of bad things but at least greedy people were seen as they are:bastard.
It is explained so simple and maybe childish, so people are sure to understand. But a new level of stupidity is found again, because you obviously did not understand anything of it.
If able gave away his net for nothing (remember, we're still in the small-scale analogy), that would mean he is working harder for the same. Expecting that of other people is the really egocentric(the word you were looking for) thing to do.
Whatever makes you feel comfortable. If you want to live your life in ignorance because you think I "don't deserve more time", just because you don't like what you see on my page, that's your choice.
@dthcap Freezing is not the only method of food preservation. There is smoking, canning, salting, pickling, dehydration with the sun, blanching, even burying in the ground ( I'm sure I'm forgetting some). About 5 minutes into the video we are told they are smoking the fish. :)
@dthcap Freezing is not the only method of food preservation. There is smoking, canning, salting, pickling, dehydration with the sun, blanching, even burying in the ground ( I'm sure I'm forgetting some). About 5 minutes into the video we are told they are smoking the fish. :)
The idea of a "voting tax" is interesting. I would be concerned, however, if the tax got too high. I could afford a $10 or $100 but $1000? $10,000? If only the wealthy could afford to vote then politicians would write laws which favor them at the expense of the poor. (Not that this isn't happening now, mind you.)
This outrage over bonuses and compensation is a bunch of crap. If the busted bankers didn't respect the savings of their depositors, why did we or our politicians think they would respect the tax money from workers. The people had it right (60% against TARP). The politicians had it wrong.
Now there is just as much incentive for bankers to take risk, because they know the gov't will bail them out if they fail again. Getting Gov't money for your own lack of ability is NOT freemarketeering
0:19:04 is how probably our economy will end up because people are not getting any smarter (maybe after such disaster). Our mostly consumption-debt based economy is exponentially decreasing production and increasing consumption, when a critical point is reached our debt bills (money) will lose value (inflation) and hunger will spread across the population. I think we have a few years. This could happen /watch?v=FqrZeC2ee0k
The only people refuting this line of thought are either a politician, a brainwashed idiot, or someone who really believes socialism can actually work and that it's moral.
this book is full of it. that "all other economic benefits flow through gains in productivity". wtf. if you overfish, you damage the supply which creates other problems. now the bears will come to eat you because there aren't fish. then you have to build bear traps which means finding some more materials. wtf. if you have too much time to do other things, you actually hurt your own self or society. a doc once told me "everything has side effects"
@Stigmata742 He is in jail right now for not paying his taxes. He found a hole in the law that gives him this right, but was sent in jail with no real evidence.
@Stigmata742 Of course he does. Taxation is nothing less than armed robbery. The government takes your money or they will put you in prison. If you resist they WILL KILL YOU! Only government can call robbery taxation. Everyone should have a moral problem with that.
this video is excellent. i highly recommend the book by Thomas Woods - Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse
This comment has received too many negative votesshow
Yes, because it is supposed to make sense to morons. It is meant to brainwash you into thinking "capitalism" is good for you. Smart people understand the inherently flawed nature of 'capitalism' and the important role technology has in its destruction. That is why this country is screwed, because of morons like you.
He won't be responding because I blocked him after his last comment. If his ideas had validity he wouldn't have to call people names to get his point across.
Irwin Schiff wasting away in prison is the single most disgraceful FACT about America today. Sherry Peal Jackson is also locked up. WHY? Because they had the nerve to declare the truth about Uncle Sam.
He's a thief, a bully and is now robbing future generations of their birthright.
God bless Irwin Schiff, father of the towering hero named Peter Schiff, who'll soon be a U S Senator.
Look, I'm all for free-trade but the way coercive control over capitalism works (mercantilism) is through the central bank and FRB making credit go directly to entrepeneurs whenever the fed lowers the interest rate, thus causing malinvestment as prices increase in the factors of production they buy after planning to buy an amount in US$ that post-boom are less valuable, is what causes malinvestment and market clearing-recession. It's Chinese mercantilism that unemploys you even if free.
The pay for the right to vote idea doesn't work though, that's why it was eliminated here in the U.S.. All that happens is wealthy people pay others to vote the way they want.
Democracy is inconsistent with the principle of individual liberty, and self rule. Always has been, always will be.
Another way of looking at the pay-to-vote section is to point out that it's weird that you don't have to pay for it: don't you have to pay for a service you receive from others? Because if you don't, something very fishy may be going on.
@Nielsio I don't agree with your point on pay-to-vote because everyone in the society is "forced" to receive the service by the govn't whether they like it or not. One cannot exclude oneself from the society, so it'd be wrong and unfair for the poor/unfortunate/lazy ppl to be forced to play under the rules of the elite.
Yea. The ones that knows the least and with the worst ideas will always "zero" the ones that knows the most and have the best ideas. It doesn't matter how much i read/study/work/think because my vote will be "zeroed" by the one who is the complete opposite. (The ones that doesn't study/read/work/think)
Newsweek had an article about this, the problem with democracies. Sad but true.
While China is govern'd by engineers so are we govern'd by populist... unfortunately...
This would get more people off the streets, reduce crime, and probably improve the culture's general well-being. How on earth could you not be for it?
And suppose you feel the lowest of paid jobs (now that the minimum wage has been removed as well as welfare) still isn't enough to meet the cost of living (which is necessarily a false claim as with the removal of minimum wage, prices of goods will drop and cost of living will continue to shrink, not to mention even more goods and services / a rise in GDP) then let's enact a negative income tax. Families would still get the same amount of money as normal welfare, but it's tied to a job! lol
I may make more money doing my own paperwork for myself. But, say I'm a lawyer making 6 figures. What's going to be more profitable: my opportunity cost of doing my own paperwork instead of doing more legal work or doing more legal work and hiring a low productivity worker to do my paperwork for me? Businesses aren't evil. So much brainwashing goes on by politicians, it makes me want to throw up sometimes.
Also, I skimmed over the wiki article on materical conditional. How exactly are you using it in this example? You're saying that forced charity isn't mutually exclusive from profit or what?
This should be a part of school curriculum.
DrunkenGodMode 1 day ago
39:32 It's no coincidence there's a woman represented in the cartoon there looking for special favors from the government to satiate her immediate gratification with little care for justice or the good of her community, when she could consult her husband on a personal and local level first rather than what only benefits her wants and needs. Ring a bell anyone? Bueller? Bueller?
cragmac1000 2 days ago
@cragmac1000 ....and 42:47 brings credibility to what I said at 39:32.
cragmac1000 2 days ago
@cragmac1000 , Reckless loans given to Women, minorities, businesses, housing, schools and farmers etcetera. These are would be loans created by a government whose people have no surplus savings backed up by tangible saved fish (for instance think: Fish = Gold.) These loans are I owe you's backed by I owe you's (credit).
cragmac1000 2 days ago
21:10 Says all you need to know about our current economic situation. Just substitute in Fannie Mae and Freddie Mac's mortgage loans of the early and middle 2000's and the fact that women and children constantly over consume and care little about savings putting a burden on the honest working men that do save and invest wisely.
cragmac1000 2 days ago
couldn't people just be happy with having only the bear minimum? working together to only have what they need to survive? if we didn't know about better standard of living maybe we'd be ok? it would be better for the environment and restrict population growth.....allowing the human race to last longer.........i wonder if lasting longer is worth anything though? seems to me ONLY a market driven, productive capital economy can work.
MrCitsidas 1 week ago
Irwin Schiff (the writer of this book) is in jail for refusing to pay income tax.
Now that's courage of your convictions.
I would want anyone stealing the fish I caught either.
express375 1 week ago
the fish come from the commons... the guy with the net is now able to catch all the fish, so the other two have no option but to indenture themselves to the guy with the net, receiving substinance wages of 1 fish per day. welcome to the world we live in.
etzel33 2 weeks ago
@etzel33 you missed the whole point. Anyone can make there own net?
Or promise more fish if they get someone else to make one for them,and pay of the loan with the extra fish they catch.
express375 1 week ago
@express375 land and natural resources are scarce, by definition. the commons (in this case, the fish) is not an unlimited resource. instead of fish, think Oil and Coal. If all the land is owned by one person, you will always be indentured to your landlord. That's serfdom, not liberty. The debt system you describe is the system we live under today, a system of debt slavery to banks who create money out of nothing.
etzel33 1 week ago
@etzel33 one person doesn't own all the land.
To get into debt you can never pay off is a bad idea,that's not the person who loaned the money out. Missed the point a second time.
You've got a very negative attitude saying everything is scarce. Imagination and invention are endless.
express375 1 week ago
@express375 i may have a negative attitude about serfdom... Back to the analogy: If I fish out all the fish with my net, then you must indenture yourself to me if you want to live. I may even hire you to fish for me, but all the fish you catch would be mine.
etzel33 1 week ago
@etzel33 You just contradicted yourself.
Your trying hard not to understand.I'm sure you see the truth really,it just takes a while to reprogram the crap we've been fed before the internet opened us all to the truth.
express375 1 week ago
@express375 look... I'm not in the mood to argue with anarchists or paleo-conservatives or neo-libertarians or birchers or birthers... just let it slide. I'm working on my own videos. I just watched this one on behalf of a friend, and I know who Irwin Schiff is/was back in the 90s so ... lets just let it go, ok?
etzel33 1 week ago
@etzel33 Or none of the above ;) nice try.
express375 1 week ago
The socialist perspective would be that Baker and Charlie were entitled use of the fishing net whenever Able wasn't using it. However, this would destroy a lot of incentive for building capital in the first place (most build capital for a profit motive). Not to mention there'd be little point in producing capital if it meant you could just get the same earnings as a producer of capital without hard work.
DoctorCapitalist 2 months ago
The mutualist perspective would be that it is okay for Able to have exclusive ownership over the capital and decide what he wants to do with it, but he is not allowed to charge anyone for anything other than the maintenance costs if he does rent it out. This is quite silly because again he gains nothing. Perhaps he would lend it out to those close to him, but he would have no reason to lend it out to anyone else he wasn't close to.
Mutualism would only work on a very small scale.
DoctorCapitalist 2 months ago
@DoctorCapitalist Even if we assume altruistic motives on the part of the capital producer there's still the problem of economic organization. In a large society there will be many people interested in using capital. How can we decide who should get to use what. First come, first serve? A lottery? Making capital available to the highest bidder means it will tend to go to the person who can make best use of it, improving overall economic efficency.
studentofsmith 1 month ago
It's my opinion that every major problem the USA faces is directly due to the government. Yes, they are the cause of our problems: drugs, 47% not paying income taxes, the great recession, health care problems, everything. All of it.
HomelessOnline 2 months ago
37:14 What if the 'old hobo' is in his economic situation through no fault of his own? For instance, what if his home were burned down by criminals, or what if his place of work decided that old people weren't productive enough and with loss of income he lost his home and was unable to find work because no one would hire an old hobo.
Why shouldn't he be allowed to vote?
Laughingblades 2 months ago
@Laughingblades - "What if the old hobo is in the situation through no fault of his own..." sounds a lot like "I'm lazy but it's not my fault." Look up "hobo" in the dictio--er, I mean on your phone.
HomelessOnline 2 months ago
Because he's no longer paying taxes.
HomelessOnline 2 months ago
30:00 is a lie
The banker has no incentive to invest in a not-for-profit venture, even though it's to the benefit of the community. The bank is not a charity, it exists to make a profit.
Laughingblades 2 months ago
26:00 is a lie
Banks intentionally make bad loans to people they know will be able to produce an income but will be unable to pay off the loan before hidden deadlines or due to risk factors the banks know they have. The purpose of this is to trap people in perpetually compounding debt that can never be paid off, to make the worker a debt slave.
Laughingblades 2 months ago
@Laughingblades - My experience has been quite the opposite, though I've never borrowed more than $20,000 at any given time. Maybe you're referring to people who take out loans they can ill-afford.
HomelessOnline 2 months ago
@Laughingblades - This defies logic. If people can't pay their loans back to the banks make less money. If those people could sell their lives to the banks--slaves, essentially--they'd do it, but the banks aren't allowed to accept that kind of payment. Your statement is ridiculous. You are describing the legal system, however.
HomelessOnline 2 months ago
@HomelessOnline
I was wondering if that statement was contradictory.
On the one hand, the case is made that banks will do whatever for profit. Fair enough.
On the other, the issuance of bad loans to keep people in a perpetual state of slavery. -How can profit be derived when the slave cannot pay it back? I mean, if I lent $300 to someone who couldn't pay it back, then -I- am -also- *out of $300,* not just the slave. Credit issuance is not a situation most would want to be in.
fountainherz 2 months ago
I guess insofar as usury is involved, but it would be financially retarded to put someone in a state of consistent debt only to gain -small usury- payments from them -at a slow rate of time- as opposed to "reaping mass profit" in a quick manner by affordable interest payments. lol. Again, me loaning someone $300 only to receive $5 a month and keep them in slow slavery, or $300 with something like $10 a month? Fast cash vs. slow gain.
fountainherz 2 months ago
22:00 is a lie and I was about to go into why but I realized that this was made by Irwin Schiff, who didn't understand concepts like hoarding, exploitative treatment of workers (IE 12 hour work days for children who are barely paid enough to eat), the need for a social safety net (maybe the rich capitalist doesn't understand the need for it, but workers who lose their jobs can starve and lose their homes before they find a new one, and we all get old, and any could be rendered disabled)
Laughingblades 2 months ago
20:00 The Saving Analogy is flawed because it uses a renewable readily obtainable ocean resource as the object of savings. In a capitalist society, if the object being saved were currency, it's accumulation would remove it from circulation, the more savings were hoarded the greater the cost would be to the community. Prices may adjust but in a real society outside of this ideal capitalist imagination land, they do not adjust uniformly and are subject to external pressures.
Laughingblades 2 months ago
^ In America this very real problem of hoarding is offset by the creation of fiat currency that holds no resource based value (as gold would), so this allows for the ever more accumulation of money by big businesses, which allows them tremendous spending power, and also leads to inflation.
But if the inflation rate matched the money actually produced, that is to say if it wasn't hoarded into the hands of a few, inflation would skyrocket due to the fiat system.
Still there's a flaw at 20:00
Laughingblades 2 months ago
11:30 is a lie. The capitalist can trap the workers in an inescapable exploitative situation because the worker's choices are limited to available feasible options, and the capitalist can turn a profit somewhere else.
For example, a capitalist can hire third world workers to work 12-14 hour days for barely enough to eat because their economy is devastated and they are desperate, their earnings will be consumed, and the capitalist can sell goods in first world country.
Laughingblades 2 months ago
@Laughingblades so you think those people should starve?! what kind of beast are u ?! yes, banks would avoid making bad loans if the state didn't cover them ... since bad loans usually mean loss...
and yes they did benefit together from the beginning but only able took a risk ...
also go learn some economics! sheesh!
oh and this mondragon-banking, capital&consumer goods, retail...where have i heard those before?? ans it's a freaken corporation! something tells me u have a lot of thinking to do
pipobun 2 months ago
9:05 He starts contemplating how to prevent the worker from being able to feasibly advance so that he can keep them in perpetual servitude. What if they all worked together from the beginning to share the risk and rewards? Oh no, that would lead to everyone's prosperity and no one's servitude and that would be a cooperative.
What if after the two workers paid off the cost of the nets they were allowed co-ownership. Part of the moral seems that workers are stupid beasts only fit to serve.
Laughingblades 2 months ago
People working together can get more done come up with better ideas and minimize the individual risk.
Also this model doesn't apply to most capitalists the way it spins the plight of the worker is also a lie.
Laughingblades 2 months ago
The Mondragon Cooperative Corporation proves that there's a better way than the capitalist model.
Laughingblades 2 months ago
at minute 20: there is a huge assumption that Able, who has amassed very little despite his continuous savings and productivity (where did his other 4 fish go?), is actually willing to part with his savings for no reason other than the benefit of society (though ultimately the survival of society will benefit him, something like an investment but in a more emergency situation)
dubya13207 3 months ago
starting at minute 14...then Able comes in and says "I loaned you fish so that you could make your big fish catcher, and even though you only owe me one more fish each I'm going to take your fishcatcher for myself because I think it'll return more money to me."
thus one of the snags of pure capitalism
dubya13207 3 months ago
@dubya13207 then Able turns around and uses his new fish trap industry to gain him 20 fish a day. he decides to pay Baker and Charlie 2 fish a day for working the trap, and he gets 16 fish to keep for himself or use as capital later
dubya13207 3 months ago
It's a good comic.
Don't go into acting please. ;-)
god0fgod 4 months ago
Thank you for posting this .
stephman02 4 months ago
25 Fed workers watched this.
DiscoDude82 4 months ago 8
Great video, I shall be sending it to my fellow socialist college students XD
DoctorCapitalist 5 months ago 4
Thank you for share your knolegde with us. I still been a poor man and I don't know how to start to reactivate my personal economy.
rtvzonacentro 5 months ago
its not just america, its everywhere around the world that uses this kind of monetary system. Its just happening really bad in america now because the economy has grown to an extent where it is unsustainable anymore. This is no surprise any civilization goes through this, the Roman Empire did. Its all part of the economic cycle BUT life will still go on that's for sure.
j12torts 6 months ago
this video explains every aspect of society well done!
j12torts 6 months ago
these video just summarised everything my blog talks about. In essence a human economy is all about struggle for resources, to improve life its all about resources struggle.
j12torts 6 months ago
People underestimate the consequences of giving the money supply to a group of un-elected men.
adulby 6 months ago
This comment has received too many negative votes show
Typical Capitalist propaganda. Blame reality instead of Capitalism.
cogar48 7 months ago
@cogar48 how the hell is this propaganda when it explains factors the way they are. What is YOUR system?
Ravengaurd6 7 months ago
@Ravengaurd6 "when it explains factors the way they are. " Yep. Because Capitalism has totally existed since the beginning of humanity and it totally didn't emerge after State violence. "What is YOUR system?" Council Communism.
cogar48 7 months ago
@cogar48 capitalism is not my game because i disagree with the nature of a monetary system where the currency is monopolized by the government. I'm all about free markets and voluntarism,because they are more efficient and morally superior than any form of central planning where the fulcrum of their influence is coercion and their limited knowledge is exceeded by the emergence of material situations as they occur in real time. it's better for people to demand and move resources as it fits THEM.
Ravengaurd6 7 months ago
@Ravengaurd6 That's fascinating. Truly.
cogar48 6 months ago
@Ravengaurd6 in true capitalism, the government wouldn't have a monopoly on the monetary system.
frionelhero 6 months ago
@frionelhero well that doesn't exist. all markets operate on mixed fundementst.
Ravengaurd6 6 months ago
@cogar48 The video illustrates the basics of capital oriented economics. It doesn't go away with mutualism, anarcho-collectivism, or any form of left anarchism (except for the utopian forms which aren't even logical in terms of marxism or related political and economic theories).
ladyattis 4 months ago
@cogar48 agree all i see here is greed and not working for the good of the community they are being greedy by working for them self and only helping others if they paid any kind of capital.
juanlmesl 6 months ago
@cogar48 no im not the political type of person, in reality you dont need to built a brand new economic system to fix our current problems and giving it a new name. just fix the problems that are making the economy change in the first place, i mean i dont think all countries need the same type of economy.
juanlmesl 6 months ago
This video is right on!
Jazzper79 8 months ago
Favorited!
crazypants88 8 months ago
Who are the 22 dislikes? the Fed staff? What kind of blood-sucking parasite would hate this?
RealLiveDebates 8 months ago
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viriatoist 9 months ago
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viriatoist 9 months ago
But to suggest that the government has and never will create any value is absolutely absurd. As if the infrastructure of this entire society has no value.
If private actors owned the roads, all the water or if you will all the access to "fishing grounds" we would essentially be a monarchy.
The original owners would own everything and would use their power to destroy technologies that would circumvent their rent seeking position.
Thats whats happening right now with the internet.
busterpratt 10 months ago
@busterpratt "If private actors owned ..."
Private actors own farms, so how does this get us closer to monarchy? With competition food is so cheap we eat for recreation and or overweight. The history of how the Board game Monopoly was made is interesting but suffice to say the world does not work like that game. The larger a company is the easier it is to out maneuver them.
ronwandell 8 months ago
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Money is the measure of work cost .
The standard for measuring the work does not exist.
Therefore, a standard measurement of cost of works in the money.
Serrokot 10 months ago
This is a good cartoon and has a lot of info but he placed too much blame of FDR. The Federal Reserve began with Wilson & kept going under republicans Coollidge & Hoover. FDR had flaws but he helped Mr average get through the Depression & WWII. All presidents both Democrat & Republican have followed similar economic policies over the years and we thus live with a "Boom & Bust" cycle & the poor fight the banker's & ceo's wars. The USA was stronger after FDR from 1945-2007. Sorry Mr. Schiff.
farcher3 10 months ago
This is a good cartoon and has a lot of info but he placed too much blame of FDR. The Federal Reserve began with Wilson & kept going under republicans Coollidge & Hoover. FDR had flaws but he helped Mr average get through the Depression & WWII. All presidents both Democrat & Republican have followed similar economic policies over the years and we thus live with a "Boom & Bust" cycle & the poor fight the banker's & ceo's wars. The USA was stronger after FDR from 1945-2007. Sorry Mr. Schiff.
farcher3 10 months ago
@farcher3 war isn't good for the economy. FDR isn't the only one to blame, your right that Wilson, Hoover, and almost every other politician is to blame. But FDR's policies weren't helpful. We didn't get out of the depression till 1945....AFTER the war. not during all the new deal programs that were passed. FDR popularized redistribution of wealth...that is why the cartoon focuses on him.
frionelhero 6 months ago
@frionelhero Correct about the effect of FDR's policies & YES the massive buildup & the fact that europe & Japan were bombed out & thus USA was top dog helped. BUT the New Deal has a great pyschological effect for the people as it did provide some work : Tenesee Valley Authority, WPA etc. Obama may loose in '12 not just because of his bad policies but his obession with Reagonomics in a 30s type economy. People could feel that he doesn't care about the poor & elderly. His supposed constituentcy.
farcher3 5 months ago
@frionelhero Further, Obama kissing up to big corporations with mega tax breaks and them STILL not trusting him while contemplating cuts to entitlements as angering the LEFT to no end. Wall ST & the corporation has $1trillion dollars stored up & the banks were bailed out in '07. Yet Mr & Ms average have no relief. The '09 Recovery was a Fed Reserve lie to cover Obama & his reagonomics. The Far right LOVES now to rewrite history to make FDR the WORST human of all including Hitler .
farcher3 5 months ago
@frionelhero Reagan's deregulation plan was OK for '81 and brought the unemplyment rate to 7.5 by 1984. But he instilled hope. Again, this was good for a post 70s era. FDR knew that in the 30s with Hooverviles etc people had to be hired at something or there would be a civil war. I like both Reagan & FDR. Obama is the MOST Wall Street-controlled president since Wilson & if he doesn't wake up even the constant pro-Obama media brainwashing won't save him from the sans-cullotes of America. PEACE
farcher3 5 months ago
@farcher3 I'm no conservative, I believe Reagan had his problems as well. But despite the claims that state otherwise, there was more deregulation under Carters administration than under Reagan. The economy was bad under Carter because of Nixon getting us off the gold standard, continuing the war in Vietnam, and trying price controls. Besides, you can't blame OR credit any ONE person for a economy. That implies central economic planning...which DOESN'T work.
frionelhero 5 months ago
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farcher3 10 months ago
Though this was a good comic, I think it would have been worth searching for a very enthusiastic voice actor.
justicetrooper 10 months ago
@justicetrooper haha true, but it is a fan video. Irwin Schiff, the author, is actually in federal prison because of his principled stand against the income tax ;)
TheBullionBull 7 months ago
Cool, they talk about real fish and offical(legal) fish. They comfiscated real fish and made it a crime to possess, making them exchange all real fish for legal fish.
This is obviously what happened to gold and silver...
The end truth is "hope you all can fish", to me thats saying hope you all have gold.
illinisb 10 months ago
FUCK!!!!! The Recession is the government's fault!!! Those motherfuckers have been stealing from us this entire time!!!! Devaluing our currency with their fucking scams!!!!
djsuperstar717 11 months ago 36
@djsuperstar717 It's not all the government's fault but the fact that you have a government owned by big businesses, banks, defense contractors, and corporations, a government that refuses to clean up it's act or serve the American people, a government that refuses to streamline it's programs and reduce bureaucracy or other wasteful spending, and a government that throws money away on pork barrel projects for big bribe donors, is a big party of the problem.
Laughingblades 2 months ago
I think there is a fundamental diffrence between europe and ameica, erueope has always been ruled by kings and queens then it transitioned in to big goverment while america started off liberated with a small goverment and has grown in to a beurocratric mess
toberses11 11 months ago 2
Wow, that sounds like how they voted for Obama.
Martial024 11 months ago 2
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The Rothschilds are enslaving the People of the US via the fraudulent criminal conspiracy known as the illegal, unConstitutional Federal Reserve. The entire US government is now simply a puppet of the Rothschild banking dynasty.
“End the Fed”
Every political candidate must be evaluated based upon this single all telling crucial issue. You are either with the People or you are with the Rothschilds and their agents, the international bankers.
This is the new American litmus test.
Lentenlands 11 months ago
Great book selection, but...Ahh! The monotone! The monotone! It burns!
MisterC0 11 months ago 3
Is there a left wing version of this ?
Runrome 1 year ago
@Runrome
It is neither left-wing nor right wing. Both the left and right want to meddle in innocent people's lives, be it for different purposes. The video advocates a system based on voluntary action and transaction.
myusernameisluc 1 year ago 32
9:55 He can also give away what he has saved.
theyangist 1 year ago
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I love how you put them all on the bread line to start with.
What i suspect would have happended in your small scale analogy is exactly what would happen in any pacific island today, the net maker would have been supported by his other fishers upon presentation of his plan to the others because it would benefit his community. And he would have shared it because he is not a selfish ****, and moreso realises the next invention may be made by someone else to his benefit. Until banks arrive anyway
imnotafish 1 year ago
I love how you put them all on the bread line to start with.
What i suspect would have happended in your small scale analogy is exactly what would happen in any pacific island today, the net maker would have been supported by his other fishers upon presentation of his plan to the others because it would benefit his community. And he would have shared it because he is not a selfish ****, and moreso realises the next invention may be made by someone else to his benefit. Until banks arrive anyway.
imnotafish 1 year ago
This is quite simplified and typically American view of government vs economy. Take a look at the Nordic countries of Europe there the economy is highly regulated by the government. They have among the highest taxes and standards of living, Unregulated Capitalism is not the ideal solution. Just a note: the current crisis is caused by the banks willingness to approve high risk mortgages, and government loosening of fiscal control .
007sharker 1 year ago
@007sharker
Correlation does not imply causation.
The current crisis is caused by the easy credit policies of central banks, supported by government.
myusernameisluc 1 year ago
@007sharker This is a correct view of government vs economy. You are a fucking moron.
itachi705 1 year ago
@itachi705 Yes I can see by your argumentation that I am wrong. And you are a mindless drone.
007sharker 11 months ago
@007sharker Why don't you move to one of those (utterly boring) Nordic paradises? Herd mentality & compulsory mediocrity don't interest me. One's life is much too short. And only a sucker believes that it's a team sport. Life is war: it's played for keeps. When was the last time Norsemen ruled the roost? America is the World's sole power because it's by far the World's source of innovation and its concomitant entrepreneurship and venture capital, because of individual ingenuity and risk-taking.
viriatoist 9 months ago
@007sharker - Any system will work in Sweden - including Socialism (for a while). I think the reasons are: A) high moral standard and low crime rate (at least before all the third worlders arrived). Low crime and predictability is very important for the investors (here is an investor: 01:53). You need to invest BEFORE you can produse so that you can eat. B) decent IQ.
elbuggo 9 months ago
"Men who seek to enlighten a nation belong in a cage." - Uncle Sam
JosephDillon57 1 year ago
"Loan out something you don't have is trickery and fraud"
Really? Then every bank in the world is a fraudulent trickster. There may be a limit on the # of fish, but there's no limit to the number of dollars that can be printed and loaned. They also don't reject loans on the grounds that they're frivolous, they grant loans that they believe will make them net profit. Google "loan sharking"
bishop8000 1 year ago
This is a child's view of market economics. Not all millionaires got their money by producing goods and catching fish. In our modern world, most rich people got that way by advertising and moving money around. A casual reading on the history of Robber Barons disproves the "nobility" of unrestrained capitalism.
bishop8000 1 year ago
@bishop8000 actually the majority of millionaires got it through inheritance.
They sustain their rent seeking positions by discouraging innovation that threatens it.
You are correct most create wealth and little else. The markets no longer adhere to reality, but to the whims of the supper rich to suit their own needs.
Yes a child's view indeed.
It is a cartoon though.
busterpratt 10 months ago
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viriatoist 9 months ago
Who creates /issues/catches the fish /money?
If you tell me Ables bank dose you would be incorrect
Who creates or issues the fish/interest money?
If you tell me Ables bank dose ,baker or Charlie you would be incorrect.
What if Ables bank kept the fish/interest & fish/principal repayments & never loaned out the interest/principal fish repayments ? See who creates/issues the fish money and THINK..?
This fish parable is preposterous, ridicules & absurd because its not how banking really works.
chotaboy66 1 year ago
1 of the best ive seen... (go to the rooth)
zumobster 1 year ago
Economy is just another form of rhetoric and rhetoric is THE tool of control over the humand mind , Plato. That being said income tax is evil but the government always wanted more and more money they started the civil war to impose tax on southern ports and break the economical backbone of the south.
royalplaylist102 1 year ago
Cooperation is the base of human evolution and that stuff is all about exploitation. That's why our system is gone fucked up , we used to have Christianity as a sort of moral barer but now that is gone lets go make profit. I feel bad for people who really think arithmetic can explain everything. Here is a sample example of the limit of arithmetic. We have been told at school that X+Y=X+Y well if you follow that concept we don't exist because X(mother)+Y(father)= X+Y+ you (Xor Y).
royalplaylist102 1 year ago
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royalplaylist102 1 year ago
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royalplaylist102 1 year ago
This is really for children , I've stopped watching it after five minute when the guy refuse to lend his net. You know how reality work? The 2 would have beat up this selfish bastard and he would have ended being badly injure,without fishnet and friends. Why don't he show them how to make one? He would lose his precious time which is the real capital I guess. That's so jewish , christianity had a lot of bad things but at least greedy people were seen as they are:bastard.
royalplaylist102 1 year ago
@royalplaylist102
It is explained so simple and maybe childish, so people are sure to understand. But a new level of stupidity is found again, because you obviously did not understand anything of it.
myusernameisluc 1 year ago
@royalplaylist102
If able gave away his net for nothing (remember, we're still in the small-scale analogy), that would mean he is working harder for the same. Expecting that of other people is the really egocentric(the word you were looking for) thing to do.
Now try to watch it again, and try to understand.
myusernameisluc 1 year ago
@myusernameisluc Watching your page is enough for me, you don't deserve more time than what I'm wasting right now to write this sentence.
royalplaylist102 1 year ago
@royalplaylist102
Whatever makes you feel comfortable. If you want to live your life in ignorance because you think I "don't deserve more time", just because you don't like what you see on my page, that's your choice.
myusernameisluc 1 year ago
BRILLIANT!
Rawego 1 year ago
this was great best econamic expalnation out there
i learn econamics on my own
katebeckinsale978 1 year ago
@katebeckinsale978 Economics not econamics. :) cheers.
InnSewerAnts 1 year ago
More economics was taught in this one video than the entirety of my college career with Keynesian professors.
CircleBastiat 1 year ago 3
@CircleBastiat
Well a Keynesian professor would argue that Baker and Charlie should keep eating then there will be more fish. LOL
flynn2008 1 year ago
I just watched it beginning to end, it is so LIBERATING. with lots of economics stuff on my channel I was still missing a few small things
kaziqbal 1 year ago
thats not posible because they do not have a freezer, so its imposble to save fish..
dthcap 1 year ago
@dthcap Well, once they get that thinkbox a-grindin', they'll find a way to preserve it.
HuggumsMcgehee 1 year ago 2
@dthcap Freezing is not the only method of food preservation. There is smoking, canning, salting, pickling, dehydration with the sun, blanching, even burying in the ground ( I'm sure I'm forgetting some). About 5 minutes into the video we are told they are smoking the fish. :)
weavermama 11 months ago
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@dthcap Freezing is not the only method of food preservation. There is smoking, canning, salting, pickling, dehydration with the sun, blanching, even burying in the ground ( I'm sure I'm forgetting some). About 5 minutes into the video we are told they are smoking the fish. :)
weavermama 11 months ago
The idea of a "voting tax" is interesting. I would be concerned, however, if the tax got too high. I could afford a $10 or $100 but $1000? $10,000? If only the wealthy could afford to vote then politicians would write laws which favor them at the expense of the poor. (Not that this isn't happening now, mind you.)
studentofsmith 1 year ago
Wow, this all goes to show ya: Government screws up economies wherever it tries to 'help'.
Denon3333 1 year ago 2
best thing i ever watched
TheBlitz1 1 year ago 2
This outrage over bonuses and compensation is a bunch of crap. If the busted bankers didn't respect the savings of their depositors, why did we or our politicians think they would respect the tax money from workers. The people had it right (60% against TARP). The politicians had it wrong.
Now there is just as much incentive for bankers to take risk, because they know the gov't will bail them out if they fail again. Getting Gov't money for your own lack of ability is NOT freemarketeering
hailgov 1 year ago
0:19:04 is how probably our economy will end up because people are not getting any smarter (maybe after such disaster). Our mostly consumption-debt based economy is exponentially decreasing production and increasing consumption, when a critical point is reached our debt bills (money) will lose value (inflation) and hunger will spread across the population. I think we have a few years. This could happen /watch?v=FqrZeC2ee0k
SuperFinGuy 1 year ago
The only people refuting this line of thought are either a politician, a brainwashed idiot, or someone who really believes socialism can actually work and that it's moral.
Krupification 1 year ago
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Everyone should watch this video.
Charlesperalo 1 year ago
The lady hiding the savings is HAWT)
HealthyBrainFuck 1 year ago
this book is full of it. that "all other economic benefits flow through gains in productivity". wtf. if you overfish, you damage the supply which creates other problems. now the bears will come to eat you because there aren't fish. then you have to build bear traps which means finding some more materials. wtf. if you have too much time to do other things, you actually hurt your own self or society. a doc once told me "everything has side effects"
he wasn't kidding.
scir91 1 year ago
Peter Schiff was Right!
and
Free Irwin Schiff!
Thrice13 1 year ago
I remember reading this book when i first started understanding economics, governments and such, high instructive.
Federiconoclasta 1 year ago
Does Irwin Schiff also oppose the income tax on moral grounds? In other words, is he a tax resister in addition to being a tax protester?
Stigmata742 1 year ago
@Stigmata742 Well, he made this comic; and it clearly demonstrates the fraud of wealth redistribution.
Nielsio 1 year ago 21
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ivailoi123 1 year ago
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@Stigmata742 He is in jail right now for not paying his taxes. He found a hole in the law that gives him this right, but was sent in jail with no real evidence.
ivailoi123 1 year ago
@ivailoi123
He lost he case and tried to claim "insanity". There is no 'hole'.
RetSquid 1 year ago
@Stigmata742 Irwin Schiff is in jail (last I heard) for non-payment of taxes.
Aryaba 1 year ago
@Stigmata742 Of course he does. Taxation is nothing less than armed robbery. The government takes your money or they will put you in prison. If you resist they WILL KILL YOU! Only government can call robbery taxation. Everyone should have a moral problem with that.
schlubber215 1 year ago
this video is excellent. i highly recommend the book by Thomas Woods - Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse
belletjx 1 year ago
The ideas in this book are so easy to explain to common people. But try and explain them to people who went through university... it's impossible!
imre1000 1 year ago
This comment has received too many negative votes show
Yes, because it is supposed to make sense to morons. It is meant to brainwash you into thinking "capitalism" is good for you. Smart people understand the inherently flawed nature of 'capitalism' and the important role technology has in its destruction. That is why this country is screwed, because of morons like you.
newb2yutube 1 year ago
So what would you prefer instead of Capitalism & free markets?
imre1000 1 year ago
He won't be responding because I blocked him after his last comment. If his ideas had validity he wouldn't have to call people names to get his point across.
Nielsio 1 year ago 3
Fuk Da Governemnt N The Banks !
aserv948 1 year ago
Irwin Schiff wasting away in prison is the single most disgraceful FACT about America today. Sherry Peal Jackson is also locked up. WHY? Because they had the nerve to declare the truth about Uncle Sam.
He's a thief, a bully and is now robbing future generations of their birthright.
God bless Irwin Schiff, father of the towering hero named Peter Schiff, who'll soon be a U S Senator.
Look up his stuff on YouTube.
See also: Larken Rose.
PennnSmith 1 year ago 3
@PennnSmith
They are in jail because they are felons, they broke the law. Schiff, Jackson and Rose are all liars, and it's easy to prove that they are.
RetSquid 1 year ago
They are not liars.
But they did break the law, so they are paying for it.
SENTRY000 1 year ago
@SENTRY000
They claim that there is no law that says you have to pay Federal income tax.
They lied.
RetSquid 1 year ago
@RetSquid What law? Can you cite it?
strongbadXCP 1 year ago
@strongbadXCP
Sure, Title 26 Section 1.
RetSquid 1 year ago
This video is GENIUS. Pure genius. Peter Schiff is re-releasing it, right? I'll buy 10 copies.
mistermayy 1 year ago
He mentioned that, yeah. Not sure if he has had the time for it though.
Nielsio 1 year ago
Sir, where is a good place to learn about Austrian Economics like Peter Schiff studies? Peace!
Lingerfoot 1 year ago
Lingerfoot, try the Mises Institute website. Or their youtube channel, misesmedia
imre1000 1 year ago
Look, I'm all for free-trade but the way coercive control over capitalism works (mercantilism) is through the central bank and FRB making credit go directly to entrepeneurs whenever the fed lowers the interest rate, thus causing malinvestment as prices increase in the factors of production they buy after planning to buy an amount in US$ that post-boom are less valuable, is what causes malinvestment and market clearing-recession. It's Chinese mercantilism that unemploys you even if free.
Nintendomanwill 1 year ago
Is this Peters Dad?
jsmythib 2 years ago
Yep
Nielsio 2 years ago
Good primer on economics for children.
The pay for the right to vote idea doesn't work though, that's why it was eliminated here in the U.S.. All that happens is wealthy people pay others to vote the way they want.
Democracy is inconsistent with the principle of individual liberty, and self rule. Always has been, always will be.
UtubeMyAccountName 2 years ago 7
Another way of looking at the pay-to-vote section is to point out that it's weird that you don't have to pay for it: don't you have to pay for a service you receive from others? Because if you don't, something very fishy may be going on.
Nielsio 2 years ago
you already do through taxes.
TheSophist2007 1 year ago
@Nielsio I don't agree with your point on pay-to-vote because everyone in the society is "forced" to receive the service by the govn't whether they like it or not. One cannot exclude oneself from the society, so it'd be wrong and unfair for the poor/unfortunate/lazy ppl to be forced to play under the rules of the elite.
yjfoo81 1 year ago
yup- That is something we knew when the United States was founded- Pure Democracy always fails.
jsmythib 2 years ago 5
Yea. The ones that knows the least and with the worst ideas will always "zero" the ones that knows the most and have the best ideas. It doesn't matter how much i read/study/work/think because my vote will be "zeroed" by the one who is the complete opposite. (The ones that doesn't study/read/work/think)
Newsweek had an article about this, the problem with democracies. Sad but true.
While China is govern'd by engineers so are we govern'd by populist... unfortunately...
andrefantastisk 1 year ago
I guess we will have to live with limited government, kept impotent by the people..There are lots of other places that do the contrary.
jsmythib 1 year ago
hm i doubt that. when a wealthy person gives me money to vote for some party, i would simply take the money and vote for whoever i want to.
wealthy people buying votes is what we have today in congress/senate
Krampfarsch 2 years ago
This is actual American history friend, that's why the practice of paying to vote was stopped.
It worked because the people only got paid AFTER the election, and only if the "proper" candidate won.
Sun Tzu; "never assume your enemy is stupid"
I understand the principle, as Nielsio puts it, "it's weird that you don't have to pay... ".
...but the practice is still supporting democracy, and democracy is the problem, not how you institute it.
UtubeMyAccountName 2 years ago
Thank You for Posting. You should win a Noble Prize!
AristophanesNow 2 years ago 3
This would get more people off the streets, reduce crime, and probably improve the culture's general well-being. How on earth could you not be for it?
SuaveSavant 2 years ago
A job which is now trivial to get because we removed the minimum wage...
SuaveSavant 2 years ago
And suppose you feel the lowest of paid jobs (now that the minimum wage has been removed as well as welfare) still isn't enough to meet the cost of living (which is necessarily a false claim as with the removal of minimum wage, prices of goods will drop and cost of living will continue to shrink, not to mention even more goods and services / a rise in GDP) then let's enact a negative income tax. Families would still get the same amount of money as normal welfare, but it's tied to a job! lol
SuaveSavant 2 years ago
I may make more money doing my own paperwork for myself. But, say I'm a lawyer making 6 figures. What's going to be more profitable: my opportunity cost of doing my own paperwork instead of doing more legal work or doing more legal work and hiring a low productivity worker to do my paperwork for me? Businesses aren't evil. So much brainwashing goes on by politicians, it makes me want to throw up sometimes.
SuaveSavant 2 years ago
Also, I skimmed over the wiki article on materical conditional. How exactly are you using it in this example? You're saying that forced charity isn't mutually exclusive from profit or what?
SuaveSavant 2 years ago