Opie & Anthony: Louis CK Explains...The Financial Collapse - Part 1 of 3

[pretorious700]

The stock market is no real indicator of economic health. The federal reserve creates asset bubbles by artificially suppressing interest rates and channeling capital in whatever direction the political powers want them too. The average American has no clue what is really going on.

[JLoveBomb]

I would have never guessed Louis CK listened to This American Life.

[marcsman229]

Louis CK is an idiot when it comes to politics

[firemarshall007]

You can make diamonds by concentrating carbon.

[ShadowCrashed81]

It was actually germany that you needed a "wheelbarrow full of money" to buy a loaf of bread. Right after world war 1 their economy went to shit.

[eleutheromaniac]

the myth of scarcity is all that props up this failed economic system.

diamonds and oil are just the tip of the iceburg. food is the real story; food is much more plentiful than people realize. millions of tonnes of grain are rotting in warehouses and silos all over the world RIGHT NOW, because it makes more economic sense to let them rot than it does to distribute it.

the 'invisible hand' of capitalism at work, ladies and gentlemen.

[pretorious700]

@eleutheromaniac There has been no free market capitalism in America for 40-50 years. Your assessment is ignorant at best.

[eleutheromaniac]

@pretorious700 i'm talking about the whole world, not just america.

but you're right, blaming it on the free market is misleading. it's greed, pure and simple. artificial scarcity is practiced in socialist nations, as well, as means of creating greater dependance on the state. socialism merely transfers the greed from the producer to the regulator. Not much of a solution, really.

[strych97]

I love Louis C.K.'s comedy but it sounds like he needs to read some Rothbard. Specifically, "What Has Government Done to Our Money?" and "The Case for a 100 Percent Gold Dollar".

Both are available, in digital form, for free at mises[.]org and in a single hardcover from Amazon.

[SovereignStatesman]

@strych97

Yeah how about "Money, Banks, and American Foreign Policy."

The main problem with any political discourse, is the presumption that the government itself is legitimate, when the people of each STATE have sovereign domain over ANY government.

But the morons just say "that was settled by the civil war, which WAS a civil war because the victors said so-- even though the states were individually sovereign."

So we're living in a world of idiots who think government can legislate reality.

[strych97]

@SovereignStatesman I have that one but I haven't read it yet. I listed the other two because they so deftly explain why gold is valuable (to those who don't know: it's not just because people say so).

[BlunderCats]

@strych97 no also we use it in making electronics etc it is really useful and essential, you might have guessed i dont know the ins and outs of it but we need them to make chips or something.

[strych97]

@BlunderCats That's not why gold is money. Gold was money LONG before there were any industrial uses for it. Of course, the fact that there ARE industrial uses for it now, does not hurt it's value. Read the essays by Rothbard that I linked to before. You'll find there are several perfectly logical reasons for gold being valuable. Once read the reasons, you will have one of those, "why didn't I see that before... It's so simple!" moments.

[BlunderCats]

@strych97 im not sure i understand why you. to be honest i hadnt read the comments before that and i thought that you thought that gold had no practical use like louis said and that its value was artificial. if you like check out a bbc documentary called 'watched over by machines of love and grace', its a series of 3 and 1 explains about how the demand for electronics rising and raised the values of precious metals from africa and funds civil wars etc like louis was saying about diamonds

[strych97]

@BlunderCats My initial comment was pointing out that Louis C.K.'s assertion (From around 3:00 to 3:12) that gold can lose its value at any time because people can just say, "it's not valuable anymore," is dead wrong.

As far as gold taking on a blood diamond status? I cannot speak to it, because I don't know anything about it. I can say that just because bad people use certain inanimate objects to achieve their own evil means, does not make that object bad nor does it affect its inherent value.

[BlunderCats]

@strych97 hahahha and im agreeing with you! one of the reasons why its value isnt purely psychological is because of the industrial uses. and it would be a bit mental to think gold is bad (its an inanimate object) but i do think we should be more responsible about who it buy it from. if you want to learn more about the effect of precious metal trade in africa check out watched over by machines of loving grace, a bbc documentary, i cant remember which episode it was but its excellent

[strych97]

@BlunderCats I was under the impression that you were agreeing that gold is valuable, but I'm making it clear that gold is NOT valuable because it's got industrial uses alone. It's WAY beyond that. Again, it was valuable for, literally, thousands of years before it had any industrial uses and there are key reasons for it not related to mere psychology.

[BlunderCats]

@strych97 oh sorry. all i meant was it now does have value from its industrial uses, i would have thought its value from before was a bit psychological no? and because it doesnt corrupt, shiney and malleable so you can make jewellery out of it

[strych97]

@BlunderCats In short, gold is valuable because it is THE best item in existence as a medium of exchange. It is durable, divisible, rare, easily recognized, uniform in value and impossible to counterfeit. These things make it ideal to use as money and therein, lies its value. A knife, for example, has value because it has a practical use. Gold has value because it has a practical use - it makes it easy to fulfill the various demands that one has.

[BlunderCats]

@strych97 yeah not a million miles from what i said but our society needs it for circuitry, that must add to its value at least

[BlunderCats]

@strych97 i know im being a bit dense

[strych97]

@SovereignStatesman Also, I think you mean "Wall Street, Banks, and American Foreign Policy".

[SovereignStatesman]

@strych97

Sorry, you're right. That's about my favorite Rothbard article too.

My only complaint with it, is that he traces the growth of the plutocracy to the Lincoln administration, but misses the vital link with the war that destroyed state autonomy'; after that, government became master over the people who created it.

[EvilAntic]

FFFFFuck diamonds

[heatbucspies55]

"Must be a huge company"

[WAKeele]

Looks like someone (the 1 dislike as of 6Aug2011) is a investment banker.

[broccolifan1]

Every time you hit a gap in my knowledge I just go to my mother's cunt

[mormonjoe]

I love reading the comments, but does anybody have any evidence to back up their claims? It's all "corporations are bad" this and "people are sheep" that. They suck, we're stupid, we have no one to blame but ourselves, the country's going to shit, blah blah blah.

I'm not saying I disagree but I was wondering where everyone is getting their information.

[HerrKnitler]

@mormonjoe

Just looking at the corporate model makes it obvious that it's a greedy form of business. Watch "The Corporation" or read books like "No Logo". There's lots but I personally like those.

Obviously the left is more vocal about the problems of todays capitalism but really the right is saying the same things but with different words. Our type of capitalism is killing the world, making people suffer in the third world and manipulating us into soulless consumerism in the first world.

[mindstormsabrewin]

How about people invest in the neighborhood businesses that have been there all their lives instead of throwing their neighbors overboard whenever a major chainstore shows up in town. America took to the corporate plantation model of business like BORN slaves. Whenever I told friends to stay with the local stores I was called a "conspiracy nut" for daring to suggest that corporate America is eliminating small businesses. NOT joking! America is a nation of zombies. We DESERVE what's happening.

[mindstormsabrewin]

While Louis CK was brilliantly explaining our predicament, America flocks to Dane Cook videos to mindlessly bellow at the clown's antics and throw money at him like confetti.

[alfredofilms]

"every time you hit a gap in my knowledge I go to my mother's cunt"

[scientific1982]

Louis is spot on as usual. Bankers are absolute filth.

[CaptainFeigh]

Steal the bread like a man haha

[newintown024]

WOW! these guys are actually making more sense than the "financial experts"

[xDrickk]

@CommonRaven

May be useful, but not worth 1,500/ounce

[illun13]

Two Countries One Cup, classic Jimmy.

[swbArchive]

Golds almost at $1500 now! goddammit i wish i invested

[BigBen81]

diamonds actually have three uses that i'm aware of and possibly more... 1. drill bits 2. laser light 3. to cut other diamonds...

[terickson82]

Next time I am asked a question I don't know the answer to, my response will be "...uh, my mother's cunt."

Louis C.K. pwns.

[boothesquirrel]

or just dont marry the cunt

[Nick7nick]

Steal the bread...like a man.

[Hopeful71]

The diamond scandal is actually worst then what they are talking about; several major corps (ie GE) have the ability to MAKE perfect (color, clarity, & no imperfections) diamonds as big as your fist but have been convinced to play ball with the diamond industry. Pretty much every other precious gem stone is more rare then diamonds (which is why my wife's engagement ring is a ruby).

Don't be a sucker, buy your future wife a gem that has actual real world rarity.

[moepippy]

@Hopeful71 really smart thing to do

[guitar0wnz]

My mothers cunt

[1Solace]

"Quote from the clip we all just watched."

[danni13371]

@1Solace

Be original.

[1Solace]

@danni13371 Dont be a douche.

[Snoofalah]

Ted briefly visited at 6:47

[jcsnyderYT]

" I'm not saying I do it better, I just don't cry like a little bitch when I can't open my milk. "

[osconchur89]

"My mother's cunt."

[demonikmagic]

hes way fucking smart than i thought he was...

[cypheronyx]

Steal the bread, like a man!

[singedrac]

Yeah, gold is actually scarce as an element. Diamonds are made of carbon, which is common. They can be grown synthetically now.

[dslcobra]

@singedrac

artificial diamonds aren't worth anything near what natural diamonds are.

[singedrac]

@dslcobra

That's because the industry fixes prices. Diamonds are expensive not because they're rare (they aren't rare at all) but because industry collusion keeps the price artificially high.

[dslcobra]

@singedrac

I know that. But actually you're wrong. The only reason why dimaonds are worth anything is because THE PEOPLE DESIRE them and have shown they are willing to pay huge amounts of money for them. If everyone STOPPED BUYING DIAMONDS SUDDENLY and started going after Rubys...the Demand would outweigh the supply and the price of Diamonds would fal while the price of Rubies would skyrocket.

[singedrac]

@dslcobra

But actually I'm not wrong. The price of diamonds is artificially inflated by the diamond industry. It's not a matter of free market demand since it's NOT A FREE MARKET. They create an artificial scarcity and an impression that they're rare and valuable to the general public despite the fact they're not very rare at all. The supply of diamonds by far outweighs the demand of diamonds. You really need to brush up on your knowledge of history of the diamond trade.

[Jerod16]

Ted the Jewel Hack!

[miranger]

who didnt know diamonds are a nasty thing people are idiots and they're better off buying shinny rocks like a retard than investing in their life.

[batmanguy123]

DIAMOND HATS!!!!!

[koino47]

i think when louis said have a garden so you have food, was probably the best advice

[JLoveBomb]

Not only diamonds. Roses cause droughts in African villages, gold jewelry is dangerous because of the environmental damage from mining, cheap chocolate is picked by children laborers... Nestle is evil. I don't approve of any of the supposed traditional romantic gestures. Something about the downfall and destruction of human lives so I can have a gift kinda puts me off. Fuck a diamond ring or roses that die. I'd rather have guy give me orgasms over jewelry any day.

[FremontMetalHead]

....

Dear God, marry me.

[dsquaredmlg]

@JLoveBomb what you talking about bro? the roses in your local flower store are grown locally...not in africa

[JLoveBomb]

@dsquaredmlg I wish that were true but unfortunately they're not. Most roses are imported from Africa or South America. California is likely the closest anyone in America will get to a "locally" grown rose, as there are less than 50 rose growers in the nation. Certainly I am not near one, as I live near the Canadian border.

Also, not a bro. ;-)

[Monkeyman2357]

@JLoveBomb Holy shit, dude...you're gay?

[JLoveBomb]

@Monkeyman2357 Holy shit dude...no. Sorry if you got your hopes up.

[tofilter]

@JLoveBomb Jesus Christ you listen to O&A, you are as straight up as Pamela Adlon in Louie, you seem to know what you are talking about, and you are not a lesbian. Holy shit I think I am in love with you. I fucking mean it, I am not trolling. I live near the border as well, if I ever run into you, I'm gonna fuck your tits off. I am sorry but this is the biggest, the most honest compliment I can give you. Seriously, I love you.

[JLoveBomb]

@tofilter Gah. I would rip your pubeless dick off and beat you with it if you so much as breathed on me.

[Fry1077]

they need to come up with a car that runs on diamonds

[destructorcreator]

This was surprisingly educational. I knew Louis CK was pretty switched on but this kind of thing - stocks, DOW index etc. - totally goes over my head 99% of the time.

[mophead2345]

De Beers is illegal in the US? Wikipedia says they are in: NYC, Houston, Beverly Hills, Las Vegas, Dallas, San Francisco, Honolulu, and other places. It is wikipedia afterall tho.

[boothesquirrel]

@mophead2345 I'm pretty sure he means a headquarters not a store, it seems stupid that they could do that but everything is pretty stupid

[TheDrunkenCelt]

Saving money is for jews

[Chnamanjx]

Favorite this video, show it to your fiance.

[bsartist]

"Girls are cunts and they don't care who dies for their fucking sparkles."

[OboxerU]

He must have met my ex. The fact that diamonds cost money and lives was lost on her.

[boothesquirrel]

It's pretty disgusting, even if you tell people they'll just forget about it in 20 minutes

[OboxerU]

That is spot on. I have no idea what it is, not being too big on jewelry myself, but they get this childlike "I want it NOW" attitude about diamonds.

[livingisaight]

@bsartist Should be the slogan for debeers, Honestly.

[Tulkastaldo]

I like that one dilbert cartoon where Dogbert calls a jeweller on the artificial diamond scarcity and he gets a sack full of diamonds to keep quiet.

[johnclavis]

Corporations are tools with which a tiny percentage of the human population gains a tremendous amount of power, protection and wealth. They aren't glorious engines of progress and innovation: people are. Corporations are just a way for unprincipled scumbags to be even bigger scumbags (while bribing governments and misleading the public). And now the activist judges on the U.S. Supreme Court are about to give corporations more rights as citizens than people do. Enjoy!

[ExquisiteDoom]

John, you haven't got the slightest clue what you're talking about. You might want to inform yourself before speweing the most obvious anti-market propaganda out there. I can destroy any of your pretty liberal theories in a matter of seconds. Even your precious fear of monopolies. Way to blame an effect as the cause and just not inspect further. God i hate uninformed people.

[johnclavis]

Boy, you sure typed a lot without saying anything. I have as my evidence the entire history of corporations in America, from the railroad monopolies that better-informed men than us thought were a big problem to the banks that took our TARP money and are now increasing their risk-taking and lending less to American families. You present nothing but a bunch of boasts about great you are. Kiss my ass, blowhard. How is being wary of modern corporations anti-market? *Corporations* are anti-market!

[ExquisiteDoom]

Have you tried MAKING YOUR OWN CORPORATION, if it'S that simple and easy, why don't you try it and give some depth to your shitty baseless argument. The propaganda you're spewing is the basic government excuse to gain more power and coersive force. But no, of course, you don't see that. All you see is the typical left wing liberal excuse "THE PRIVATE SECTOR IS THE CAUSE OF ALL EVIL!" when it is pretty god damn obvious "natural monopolies" don't exist. Not by your retarded definition anyway.

[moepippy]

How did you find this video you shitcunt without seraching OPIE AND ANTHONY LOUIS CK?

[Michaelfreakincombs]

@johnclavis Please go repost this on O and A's OWS Video. The ignorance over there is unbearable. It seems Anthony can only be reasonable, politically at least, when Louis is in the studio.

[polevaultrockstr]

@johnclavis Sounds to me like the people giving out the power and not the people abusing it are in the wrong. IF i told you you could do something without any consequence why would you not do it, its "legal" just like so many other things that the government makes "illegal" because they can't make money off of it. The answer is no government and a free market economey where we, the consumer, have the real vote in what is done with money. Mises.org is a great place to learn about this.

[speaketh64]

at 9:05, louie confused hyperinflation saying it was in america, actually it was Germany after WW1 when they owed US money for the war. When they couldnt pay us, theyre money became worthless and they used to burn th money for warm since it was so worthless. Also led us to going into the great depression since we backed Germany .

[MikeTFP]

Obama president nah

[sniper6081]

It's funny to listen to economic illiterates babble on and on about things they think they know.

[gfuzzy]

@sniper6081 Hurr,durr because you know it all pal.

[sniper6081]

@gfuzzy Huh? Are you actually responding to a post made eight months ago? This whole thing is irrelevant to me now. I don't care about this anymore. Why do people respond to posts this old anyway?

[gfuzzy]

@sniper6081 Because it's still there. Good point anyway, later.

[1Solace]

@sniper6081 I'm gonna respond to your old post because I'm hoping it will make you so mad that you will kill yourself

[KobeJames9876]

"wheres da beers based out of?"

"um...my mothers cunt"

LOL!

[NeitBrennus]

Has Louis and Bill ever battle with conspiracy theories? Cause that would be epic.

[NeitBrennus]

Or I should say ON conspiracy theories.

[jfoughe]

As far as i know Louis and Bill have only both been in studio once, and they mostly ripped on Menino, Boston, and the "I saw the soigns" girl.

[K4800M3R5]

that's not even a conspiracy anymore. Bill Maher had it in his book about how warlords sell diamonds to "legitamate companies" or ppl like Al Quada, to profit. so in a way, holes support terrorism.