you think a fed chairman is in favor of free markets? what are you on crack??? FEDERAL RESERVE = SOCIALISM/FASCISM... GOLD & CONTRACTS = FREE MARKETS.. how do you have so many people watching when you are so oblivious?
@overshotfilms08 Wow, first of all socialism and fascism are not the same thing. Secondly, they are not for the empowerement of the workers or people (socialism is all about that) nor they are irrational (fascism is all about that). Plus, money is a market: does not matter what a government try, it can't impose money without some consent and people use "fiat money" rather than "gold money" because bad money drive the good. Would you trade gold for a coffee or some fiat?
@overshotfilms08 I did not say that the FED was fair, just not socialist or fascist.they are getting corporatocratic, like any financial institution. Plus, they abuse the taylor rule, which mean they wonder a lot about unemployment and output, while a simple GDP+GDP deflator (inflation targeted only) with a check on the GPI&ISEW (is it real growth?) will do a better job. Plus, they have a shit load in the off-balance items, which should be include in balance...
Corporatism is a direct result of unfettered, deregulated, free-market capitalism. Because as Karl Popper said "If the government does not intervene and try to control the markets, other shady organisations, such as trusts, multi-national predators and political extremes, will." If you let the markets run amok, there is nothing stopping them from banding together to create monopolies, infiltrating government to pass favourable laws and crushing the middle- and working-class.
@thegillotine09 If they're using their own money you're correct. BUT they are using OUR money to gamble with. We got fucked in 2008 because of their gambling with our money and now one such thing as our houses are worth shit compared to what they were before they took those insane gambling risks with OUR money.
GAH! Investment is gambling in the same way that practicing medicine is gambling. Just because something involves risk doesn't mean it's gambling. Investment is a science. Even under Strong Form EMH assumptions, investment funds employ fairly intense statistical models to calculate optimal return/risk levels dependent on the investors' risk tolerance.
And what do you mean by "OUR money". Did you give your money to a mutual fund or something? If so, that was your choice.
@thegillotine09 I agree with you fully about investment, like I said before. But there were bills trying to be passed to separate the money we have in the banks with the money that is being invested with, which as we saw in 2008 ended up fucking us.
Or at the very least being only able to back the investment better than $1 for $100, so if the invest does go bunk we don't get as hard as we would've.
It's obviously OUR money when bailouts, TARP, quantitative easing, and the FDIC are involved. More directly, the CDO buyers were lied to by CRAs, housing prices are through the roof, and the global economy is destroyed.
I totally agree that politicians are the most immoral people in society. The difference (apparently) in our opinion is that you think they should be empowered more.
@thegillotine09 I can clearly see now that you're mentally unstable. You have no basis to tell me what I think from my objective statements, and you're not even educated on the topic at hand. You're nothing but a dysfunctional imbecile that gets off on belittling those who are far more intelligent. Kindly learn what a derivative is and go fuck yourself.
I'd be all for it if, I dunno, the rest of America or the account holders actually benefited from it. But that's not how a limited money system works.
A society doesn't thrive or even do well if only 1% have THAT much more money than the rest.
Why don't we just let the banks fail and let the strong banks with good practices succeed? A 10 dollar bet with a dollar in the bank? That's our fractional reserve system to a T. It's one of the Feds tools to keep interest rates artificially low, why not look into it? It causes the bubbles and mal-investment being described.
@jludo We didnt let the banks fail because most peoples money in the banks would have been lost. An example is like you putting a million dollars in the bank and finding out that its all gone this morning! The govt decided to bail out the banks because the banks lost your million dollars in the stock market! That's one reason they called them to big to fail! Imagine most Americans having ALL their money in the bank gone this morning with no warning! The bailouts had to be done!
Not at all, we could have let the banks fail and used the money we printed to bail out those who had deposits in the bank. As opposed to giving the printed money to the banks directly. Better yet, we could do away with fractional reserve banking and fix the problem entirely.
But to say it had to be done is completely wrong, we could have given the bail out money directly to the people or temporarily expanded FDIC insurance to cover all deposits.
@jludo said "we could have let the banks fail and used the money we printed to bail out those who had deposits in the bank". LOL That only makes sense to people that dont understand what FDIC insurance and leverage is.
U also said, "we could have temporarily expanded FDIC insurance". First of all we did expand it to $250k. Second if u let the banks fail then theres no need for FDIC insurance because there wouldnt be any banks to insure! Ur last statement indicates u just dont know any better.
The Rich having achieved their wealth then kick the door shut for the rest of us, rigging the market in their favor however they can, and over generations of accumulated wealth the rich can command the economic power of small nations, allowing them nearly unchecked power and influence over the market and legal system.
This is why the free market self destructs. The free market wasn't destroyed by government, it was destroyed by capitalist taking over government.
@Laughingblades Most of the rich havent achieved anything, they inherited their money and insider influences like Trump who's millionaire father taught him the business introduced him to his trading partners and left the company to him. He carries on as if he's self-made. Harvard grads? Legacies and brilliant upstarts who will serve to make the legacies richer then they are.
@kybelian True enough, I should say most of the rich having obtained their wealth kick the door shut for the rest of us and kill market freedom however they can.
It always comes down to business people simply doing business, protecting their own economic interests and consolidating their power and wealth. If that means writing laws, buying up all feasible land that could be used by competition, monopolizing resources, ect.
But how do the rich rig the markets in their favor? It's through buying political power. If there was only a fraction of that power available for purchase wouldn't it follow that only a fraction of the market rigging will be possible.
@jludo It doesn't have to be through buying politicians, but today buying politicians does seem the most expedient way to get favors from the state. Once a capitalist has wealth and power he has a vested interest in consolidating that wealth and power as much as possible, however possible, and even if everyone plays by the rules which they never will, it is in fact possible to monopolize access to the marketplace, access to resources, ect.
@jludo Small politicians are easier to buy and push around, which is why the Koch Brothers want smaller government, it's not because big government is more principled it's just that it's more expensive and less impressed with financial coercion.
But even if there were no government they could easily use their wealth and power to consolidate control of the market. Even if everyone played by the rules, the more wealthy and powerful a company becomes the more it can consolidate that power & wealth
The government should give the small banks a chance to become bigger than the big banks,like let them compete and If the small banks play by the rules the government should help them replace the place of big banks,you know what I'm trying to say.
We need to put some Indians in congress or something because no matter how bad a recession we are in there are always Convenient Store on like every corner in the hood.
@DerekBlankenship1 In the event they R actually owned by persons of Indian nationality/heritage, they probably are there because they R willing to accept less for the work they invest now, betting on better returns in the future. That's not what the USA has become. e where most everyone one wanted theirs yesterday.
WFC, JPM, BAC, & C are not down far enough folks. Let's bring these fuckers to their knees people. Be apart of the solution and not the problem. The phrase everyday 365 is, pull your damn money out of them ASAP!!!!!!!!!!!!!
Your absolutely right! Wow after a bunch of bad videos in a row you really hit the nail on the head with this one. Libertarians feel your message on this one Cenk! That's why the real ones (unlike most of those tea party fakers) are also at occupy wall street
@theomgkiller I know that some people would lose their pay for a time but better not getting any money than getting money and having to give it away to corrupt banks.
@leeuniverse did you watch the video or did you just read comments?... watch the video and listen very carefully at what cenk is saying. and the very fact that you were implying not to rid this country of "the" current system.. means you are fully enshrined into "the" current system... which i say.. free your mind.
@leeuniverse ....what system? A rigged system, where you have to pay for the banks ineptitude and greed? Ah, thats that good ol' corporate welfare and socialism of the elite....where we, meaning you, subsidize the wealthy. So when you talk about socialism, KNOW what the fuck you are talking about and how it applies to today's "system"....Good day, lemming.
@JDaKingman Local Councils, local governments, local people, local food, local banks. For the most part, for 80% of our lives, we should live LOCALLY.
I'm glad that my money isn't in any of the "too big to fail" banks. They should've been carved up after the crash, but instead they were given tons of cash.
CENK! Your about to get snuffed out like that scene in Michael Clayton where the whistle-blower was taken out and it was made to look like a heart attack.
What is wrong with you assholes in the US? Home of the Brave and Land of the Pussy-whipped. OWS must succeed otherwise those of us in the rest of the civilized world will continue to laugh at you. Just don't forget all the European economic problems are a result of American greed and this anti-US hatred will not die down anytime soon. Christian crack-pot assholes run the show.
Its disgusting how being a patriot of this country is the number 1 unspoken rule yet all politicians republicans and democrats pass laws with loopholes to make it rot
Ron Paul sounds like the only GOP candidate that has anything good to say about Volcker. I think Ron Paul respects the fact that Volcker took the drastic but necessary step of increasing the interest rate in the early 80's to stop inflation from going out of control.
Fannie and Freddie have been causing a lot of problems for American taxpayers and the housing market for many years.
how many remember the S & L financial disaster or have read about it? Fact is back then the Government interferring in the housing market using F/F's clout to maintain 30 year fixed term mortgages which favor the borrower at expense of the lender basically bankrupted about 3000 SLs, created a similar meltdown to the current one except lower scale. There were scapegoats then too
F.D.I.C should develop a formula for guaranteeing deposits proportional to the percentage of depositor funds gambled. The banks should be forced to publish this information so depositors can determine how much they might get back if the bank fails.
I realize this contradicts the reason the F.D.I.C. was created.
If everyone withdraws their money, nothing will happen to the banks... Simple economics. Only way to fix any problem we have now is to get the money out of POLITICS, not the banks.
@Richardisdorky That is EXACTLY what they are doing with your bank account, they are gambling with it, PLUS they are not giving you any of the winnings, if they win.
They got RID of the rules that forbade this.The result is, that more and more deposits are being gambled, and banks are now insolvent.
@dangerouslytalented Not my money. I don't keep it in the banks. Only a fool would put their money in an American bank. Other then that. Your quite right. Transfer all your money and holding to a Canadian Credit Union. It takes about two days to do all the paper work, but your money will be safer. The American banking system is a lost cause, get your money out while you still can.
Alright I made it to 1:43 seconds.... I am beginning to see it. The idea of being a REP or a DEM is just that, an idea. A concept used to divide the people on issue that take your eyes from their real goal. Maybe I just left the reservation, just completely lost it I don't know. I am beginning to think the NWO nuts are on to something. I can't believe I am saying it but that is the only conclusion I come up with.
The United States will turn into a third world shit-hole if you don't take back your nation from the greedy bankers. Don't allow your quality of life to continue to slid Americans, learn to fight back and gain back control of the system. You must, otherwise your children's children will look at us as all fools.
There is only one way we can get the bankers to listen to us: We all must withdraw our money from those banks and move to credit unions. Explain to them that your money is not to be used as collateral for their drunken gambling and this is the only way you can ensure it. The only way they'll listen is if we hit them where it hurts them most.
@jawayetti I 20000% agree with you, I would take my money out of those banks in a heart beat. These bankers know that ppl are wanting to do that, especially while the movement is going on, so they are trying to make it impossible for them to remove their money. I haven't deposited a deposit ina bank in God knows how long. I refuse to be their stepping stool.
The Volker rule is just trying to polish a turd. The entire banking system is corrupt. What needs to be done is to remove Government from banking completely since it is Government regulations that create these behemoth banking corporations and destroy their competition. Fractional Reserve banking would be deemed as raud and disappear and people would begin using money that can be trusted like gold and silver rather than Federal reserve notes that have no more intrinsic value than toilet paper
Arrgh, I'm sick and tired of the argument "this is bullshit because it's liberal". All I could say is "AND?!!!" Geez, the liberal argument makes as much sense as "you're a woman so your voice doesn't count" argument.
Improve gov't OVERSIGHT on Corporations, Banks & Wall Street to prevent misbehavior; punish politicians severely for taking corporate bribes & job offers; high tariffs on corporations that move money/services/production overseas, no union busting, Corporate Citizenship repealed. No corporate/private ownership of hospitals/prisons, No more war-profiteering. Increase taxes on the 1% wealthy. Science & the Ethic of Reciprocity, NOT religion should be the center of civil behavior. TZM FTW
@random69ism Yeah right! the government would imprison anyone who even threatened doing so and would execute those who would attempt it. Sadly we have become a plutocracy that has enslaved the populous into wage slavery and inescapable debt.
@random69ism You know I agree 100% but we both know that inspiring a violent revolution in America is impossible. It takes only one glance at the police beating protesters on wallstreet to know that whenever the American people fight for economic justice we are boxed into a corner and ignored. The only thing we can do at this point is a nation wide TIGER STRIKE we can take our money out of the banks and refuse to work collectively and prove that they need us more than we need them.
We just have Morons running America but one thing the American will not vote for the Repubicans because they are helping the American people at all. And the American people are the Bosses and the jig is up.
@random69ism That is Tune I would like to see that to happen untill the Americans can stop voting for the Repubicans first for one term but the American have to show the goverment leaders that the American people are the Bosses and they work for us the people not their selfs.
No matter what we do we are fucked up in 2012 and will have someone running republican bills. As I wrote many time I rather have someone insane like Bachman running the country because I know she will stand all alone where nobody in her own party or the democrats will agree with her and stuff passed. Obama is too good to get republican stuffs passed since democrats don't want to fight him. If there is someone I wish for is a real contender besides some unknown like Stewart Alexander
I'm a libertarian but even I think this makes perfect sense, though I'd go further than this, it's like 70% of the way to a free market if Paul Volcker got his way here : \
@lukegreen37 I feel sorry for the actual conservatives. They have been left behind massively by the crazies who have abducted the Republican party, and to a lesser extent, the Dems, too.
@dangerouslytalented I feel even worse for the actual liberals... talk about a group with absolutely no reprepsentation in government for at least the past 30yrs.
@wistoncap At least the actual liberals know that they are almost unrepresented, whereas the actual conservatives have had their entire movement hijacked by radicals.
@dangerouslytalented why lesser extent for the dems? Im a liberal, and I cant stand 90% of the democratic party - I dont think its a lesser extent at all. Both parties brainwash and betray their supporters.For instance what has the Obama admin brought us? mandated private insurance (which is now 12% more than when he took office). More war. More tax cuts for the rich. An extension of the Patriot act. More giveaways to the banks. Extended patents for the big drug companies etc etc etc.
The reason they don't want to regulate these markets is because they are so large. If they start regulating them, all that money will leave the derivatives market, and enter into the normal money supply causing inflation to skyrocket.
The derivatives market has been like one big suction machine preventing the money supply from getting too large. I know its not a traditional interpretation of things. but its my theory.
@thefranciswatts The problem is, that FAR TOO MUCH money is being sucked out of the economy. This is causing inflation of prices, but not a matching inflation of incomes.
@InsanityPrevails1 True, but if we all pull our money out, protest, etc, etc, then their crazy schemes will finally come to an end and inflation will be much lower--then my money will be worth more than if I left it in the bank. Even if that wasn't the case I would not leave it in there because I hate them.
The banks OWN the govt; How else would they get their own way on everything all of the time? Obama can't squeeze out a fart without first getting Goldman Sach's permission to do so..
Volcker is JUST ANOTHER ONE of Sarah Palin's DICKLESS and BALLESS BITCHES and PUSSIES! We DONT need the Volcker rule, we NEED the Palin Rule! If this country implemented the Palin Rule, this whole economic mess will NEVER happen!
@dumontgo. There is no "Palin Rule." ecwaufusxtreme just pulled it out of her ass just like she pulled stuff out of her ass about Sarah Palin being POTUS and of there being a "Palinista Army," "Palinomics" and "Palin World Order." ecw is a crackhead, alcoholic, dyke, KKK member, psycho, femi-nazi, liar, coward and a Palin plant.
Why cant we hire a mathematician or a scientist from a university instead of someone from Wall Street to run or economy? They are good with statistics and arent bought by the corporations, they're just regular professors.
@biggydx They may not be bought before they get to DC, but about 4 hours later they'll be wearing Goldman Sachs T-shirts. That Brinks truck will back up to their door.
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marlinibojnk95s2 5 days ago
you think a fed chairman is in favor of free markets? what are you on crack??? FEDERAL RESERVE = SOCIALISM/FASCISM... GOLD & CONTRACTS = FREE MARKETS.. how do you have so many people watching when you are so oblivious?
overshotfilms08 3 months ago
@overshotfilms08 Wow, first of all socialism and fascism are not the same thing. Secondly, they are not for the empowerement of the workers or people (socialism is all about that) nor they are irrational (fascism is all about that). Plus, money is a market: does not matter what a government try, it can't impose money without some consent and people use "fiat money" rather than "gold money" because bad money drive the good. Would you trade gold for a coffee or some fiat?
therrydicule 6 days ago
@therrydicule lol .. i'm not even going to take the time
overshotfilms08 6 days ago
@overshotfilms08 I did not say that the FED was fair, just not socialist or fascist.they are getting corporatocratic, like any financial institution. Plus, they abuse the taylor rule, which mean they wonder a lot about unemployment and output, while a simple GDP+GDP deflator (inflation targeted only) with a check on the GPI&ISEW (is it real growth?) will do a better job. Plus, they have a shit load in the off-balance items, which should be include in balance...
therrydicule 6 days ago
Corporatism is a direct result of unfettered, deregulated, free-market capitalism. Because as Karl Popper said "If the government does not intervene and try to control the markets, other shady organisations, such as trusts, multi-national predators and political extremes, will." If you let the markets run amok, there is nothing stopping them from banding together to create monopolies, infiltrating government to pass favourable laws and crushing the middle- and working-class.
atosafi1 4 months ago
God damnit Cenk, investment isn't gambling. This is my new pet peeve. Just because you don't understand something doesn't mean it's gambling.
thegillotine09 4 months ago
@thegillotine09 If they're using their own money you're correct. BUT they are using OUR money to gamble with. We got fucked in 2008 because of their gambling with our money and now one such thing as our houses are worth shit compared to what they were before they took those insane gambling risks with OUR money.
tj203 4 months ago
@tj203
GAH! Investment is gambling in the same way that practicing medicine is gambling. Just because something involves risk doesn't mean it's gambling. Investment is a science. Even under Strong Form EMH assumptions, investment funds employ fairly intense statistical models to calculate optimal return/risk levels dependent on the investors' risk tolerance.
And what do you mean by "OUR money". Did you give your money to a mutual fund or something? If so, that was your choice.
thegillotine09 4 months ago
@thegillotine09 I agree with you fully about investment, like I said before. But there were bills trying to be passed to separate the money we have in the banks with the money that is being invested with, which as we saw in 2008 ended up fucking us.
Or at the very least being only able to back the investment better than $1 for $100, so if the invest does go bunk we don't get as hard as we would've.
tj203 4 months ago
@thegillotine09 Do you even know what a derivative is?
It's obviously OUR money when bailouts, TARP, quantitative easing, and the FDIC are involved. More directly, the CDO buyers were lied to by CRAs, housing prices are through the roof, and the global economy is destroyed.
PoweredByMagnets 3 months ago
@PoweredByMagnets
Other palm to the face.
I totally agree that politicians are the most immoral people in society. The difference (apparently) in our opinion is that you think they should be empowered more.
thegillotine09 3 months ago
@thegillotine09 I can clearly see now that you're mentally unstable. You have no basis to tell me what I think from my objective statements, and you're not even educated on the topic at hand. You're nothing but a dysfunctional imbecile that gets off on belittling those who are far more intelligent. Kindly learn what a derivative is and go fuck yourself.
PoweredByMagnets 3 months ago
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@PoweredByMagnets
You know they have douches that can help you get that sand out of your vagina.
thegillotine09 3 months ago
@thegillotine09 It's not investment... they're derivatives...
PoweredByMagnets 3 months ago in playlist More videos from TheYoungTurks
@PoweredByMagnets
palm to the face.
thegillotine09 3 months ago
God damnit Cenk, investment isn't gambling. This is my new pet peeve.
thegillotine09 4 months ago
I'd be all for it if, I dunno, the rest of America or the account holders actually benefited from it. But that's not how a limited money system works.
A society doesn't thrive or even do well if only 1% have THAT much more money than the rest.
OtakuRebel 4 months ago
Bernanke out, Volcker in!
Salvysahagun 4 months ago
I want to see obamas bank records... is he on the take because he is either that or the most blind mother fucker in history
LiveFreeFromFallacy 4 months ago
the government is sooo corrupt i don't even believe there is a point for elections or voting, whats the point, really?
05candyman 4 months ago in playlist More videos from TheYoungTurks
Why don't we just let the banks fail and let the strong banks with good practices succeed? A 10 dollar bet with a dollar in the bank? That's our fractional reserve system to a T. It's one of the Feds tools to keep interest rates artificially low, why not look into it? It causes the bubbles and mal-investment being described.
jludo 4 months ago
@jludo We didnt let the banks fail because most peoples money in the banks would have been lost. An example is like you putting a million dollars in the bank and finding out that its all gone this morning! The govt decided to bail out the banks because the banks lost your million dollars in the stock market! That's one reason they called them to big to fail! Imagine most Americans having ALL their money in the bank gone this morning with no warning! The bailouts had to be done!
ViciousOneWon 4 months ago
@ViciousOneWon
Not at all, we could have let the banks fail and used the money we printed to bail out those who had deposits in the bank. As opposed to giving the printed money to the banks directly. Better yet, we could do away with fractional reserve banking and fix the problem entirely.
But to say it had to be done is completely wrong, we could have given the bail out money directly to the people or temporarily expanded FDIC insurance to cover all deposits.
jludo 4 months ago
@jludo said "we could have let the banks fail and used the money we printed to bail out those who had deposits in the bank". LOL That only makes sense to people that dont understand what FDIC insurance and leverage is.
U also said, "we could have temporarily expanded FDIC insurance". First of all we did expand it to $250k. Second if u let the banks fail then theres no need for FDIC insurance because there wouldnt be any banks to insure! Ur last statement indicates u just dont know any better.
ViciousOneWon 4 months ago
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Stevie68000 4 months ago
The Rich having achieved their wealth then kick the door shut for the rest of us, rigging the market in their favor however they can, and over generations of accumulated wealth the rich can command the economic power of small nations, allowing them nearly unchecked power and influence over the market and legal system.
This is why the free market self destructs. The free market wasn't destroyed by government, it was destroyed by capitalist taking over government.
Laughingblades 4 months ago
@Laughingblades Most of the rich havent achieved anything, they inherited their money and insider influences like Trump who's millionaire father taught him the business introduced him to his trading partners and left the company to him. He carries on as if he's self-made. Harvard grads? Legacies and brilliant upstarts who will serve to make the legacies richer then they are.
kybelian 4 months ago
@kybelian True enough, I should say most of the rich having obtained their wealth kick the door shut for the rest of us and kill market freedom however they can.
It always comes down to business people simply doing business, protecting their own economic interests and consolidating their power and wealth. If that means writing laws, buying up all feasible land that could be used by competition, monopolizing resources, ect.
Laughingblades 4 months ago
@Laughingblades
But how do the rich rig the markets in their favor? It's through buying political power. If there was only a fraction of that power available for purchase wouldn't it follow that only a fraction of the market rigging will be possible.
jludo 4 months ago
@jludo It doesn't have to be through buying politicians, but today buying politicians does seem the most expedient way to get favors from the state. Once a capitalist has wealth and power he has a vested interest in consolidating that wealth and power as much as possible, however possible, and even if everyone plays by the rules which they never will, it is in fact possible to monopolize access to the marketplace, access to resources, ect.
Laughingblades 4 months ago
@jludo Small politicians are easier to buy and push around, which is why the Koch Brothers want smaller government, it's not because big government is more principled it's just that it's more expensive and less impressed with financial coercion.
But even if there were no government they could easily use their wealth and power to consolidate control of the market. Even if everyone played by the rules, the more wealthy and powerful a company becomes the more it can consolidate that power & wealth
Laughingblades 4 months ago
The government should give the small banks a chance to become bigger than the big banks,like let them compete and If the small banks play by the rules the government should help them replace the place of big banks,you know what I'm trying to say.
Useyno 4 months ago
We need to put some Indians in congress or something because no matter how bad a recession we are in there are always Convenient Store on like every corner in the hood.
DerekBlankenship1 4 months ago
@DerekBlankenship1 In the event they R actually owned by persons of Indian nationality/heritage, they probably are there because they R willing to accept less for the work they invest now, betting on better returns in the future. That's not what the USA has become. e where most everyone one wanted theirs yesterday.
donyunger 4 months ago
the only different between the left and right wing is one secretly loves money and the other openly loves money
Astro9320 4 months ago in playlist October 24 15
@Astro9320 The difference between the right and left wing is that the US only has the former.
blechtic 4 months ago
WFC, JPM, BAC, & C are not down far enough folks. Let's bring these fuckers to their knees people. Be apart of the solution and not the problem. The phrase everyday 365 is, pull your damn money out of them ASAP!!!!!!!!!!!!!
jrda128 4 months ago
who's franny and manny?
xCleverlyx 4 months ago in playlist More videos from TheYoungTurks
All the repubs with the exclusion of Ron Paul work for the banks.
Altasshrug 4 months ago
A video that tells the people the absolute truth. Also uploaded on my birthday..
JonnyHackerRed 4 months ago 5
Revealed--the-capitalist-network-that-runs-the-world look at this docuuuumeent
thelordakira 4 months ago
Your absolutely right! Wow after a bunch of bad videos in a row you really hit the nail on the head with this one. Libertarians feel your message on this one Cenk! That's why the real ones (unlike most of those tea party fakers) are also at occupy wall street
Tmonstaa 4 months ago
You know, I find it funny that 6 years ago, most of TYT's videos were concentrated on mainly political problems/activities.
Now, its become so much more apparent that our civilizations are not in fact run by politics, but by MONEY.
I'm glad they're covering the bullshit monetary system we have implemented; since it just reinforces the fact that we're still far from "civilized".
ChairmanKiel 4 months ago
Doesn't this piss you off. GD politicians!
dilroytube 4 months ago
Cenk says "President Obama" - YouTube CC says "President mama" LMFAO
SupportOurCommunity 4 months ago
"Paul Volker the heart of a satellite" - ahahahah. youTube closed captions are fail, but hilarious.
GamertownUSA 4 months ago
"but i saw it on her own bed preg"
WrathOfNolla 4 months ago
"so balaji workers or we can do we took the other side"
WrathOfNolla 4 months ago
"scorpions and the largest market what do you have left?" lol i love youtube captions...
WrathOfNolla 4 months ago
Burn the Federal Reserve and put those corrupt corporations and bankers to the guillotine.
98bigbutt 4 months ago
you guys really need to remove the subtitles. there absurd :)
ioctoberdrums 4 months ago
Wouldn't the american ppl give a better message by just not paying their taxes for 1 year or period of tax collection ?
Don't want them to use your money ? Than just don't give it to them..easy :)
theomgkiller 4 months ago
@theomgkiller I know that some people would lose their pay for a time but better not getting any money than getting money and having to give it away to corrupt banks.
theomgkiller 4 months ago
Who want's a license to steal?
TheFunkadelicFan 4 months ago
Duh..... That's what banks are..... using other peoples money to make money for themselves and others.
Welcome to real life liberals! If you get rid of the system, then you destroy the system morons!
leeuniverse 4 months ago
@leeuniverse did you watch the video or did you just read comments?... watch the video and listen very carefully at what cenk is saying. and the very fact that you were implying not to rid this country of "the" current system.. means you are fully enshrined into "the" current system... which i say.. free your mind.
OrbitFighter 4 months ago
@leeuniverse ....what system? A rigged system, where you have to pay for the banks ineptitude and greed? Ah, thats that good ol' corporate welfare and socialism of the elite....where we, meaning you, subsidize the wealthy. So when you talk about socialism, KNOW what the fuck you are talking about and how it applies to today's "system"....Good day, lemming.
flipgood89 4 months ago
Isn't it apparent now that this country NEEDS a revolution? We need a Government over through. NO MORE Party governments,just COMMON FUCKING SENSE.
JDaKingman 4 months ago in playlist More videos from TheYoungTurks
@JDaKingman Local Councils, local governments, local people, local food, local banks. For the most part, for 80% of our lives, we should live LOCALLY.
mrstrings2006 4 months ago
3:44 but i saw it on her own bed preg .
The subtitles don't make sense half of the time.
utubeinit101 4 months ago
Step 1: Copy Canadian financial system
Step 2: ???
Step 3: Profit.
taseefi1 4 months ago
wouldn't a run on the banks cause, at least in the short term, a deeper recession? can anyone explain?
conthemon 4 months ago
I'm glad that my money isn't in any of the "too big to fail" banks. They should've been carved up after the crash, but instead they were given tons of cash.
meltingfaces10 4 months ago
RUN ON THE BANK!!!!!!!!!!!!!!!!
deathbyzza420 4 months ago
@deathbyzza420 Isn't that what ended the Soviet Union?
Careful man...
DeletedDelusion 4 months ago
CENK! Your about to get snuffed out like that scene in Michael Clayton where the whistle-blower was taken out and it was made to look like a heart attack.
Dayonetheone 4 months ago in playlist October 24
CENK IS A THREAT TO THE ELITE, HE IS ON SO MANY GOVERNMENT BLACK LISTS, I HOPE NOTHING HAPPENS TO HIM.
Jonafish1 4 months ago
What is wrong with you assholes in the US? Home of the Brave and Land of the Pussy-whipped. OWS must succeed otherwise those of us in the rest of the civilized world will continue to laugh at you. Just don't forget all the European economic problems are a result of American greed and this anti-US hatred will not die down anytime soon. Christian crack-pot assholes run the show.
CATSASS1117 4 months ago
Its disgusting how being a patriot of this country is the number 1 unspoken rule yet all politicians republicans and democrats pass laws with loopholes to make it rot
Grnvolpe 4 months ago
now you can only be to much to the right if you start quoting adolf hitler when you try to win an argument
spaik007 4 months ago in playlist Fler videoklipp från TheYoungTurks
Ron Paul sounds like the only GOP candidate that has anything good to say about Volcker. I think Ron Paul respects the fact that Volcker took the drastic but necessary step of increasing the interest rate in the early 80's to stop inflation from going out of control.
ronpaulbot 4 months ago 36
Fannie and Freddie have been causing a lot of problems for American taxpayers and the housing market for many years.
how many remember the S & L financial disaster or have read about it? Fact is back then the Government interferring in the housing market using F/F's clout to maintain 30 year fixed term mortgages which favor the borrower at expense of the lender basically bankrupted about 3000 SLs, created a similar meltdown to the current one except lower scale. There were scapegoats then too
genie0390 4 months ago
My great aunt was a vice pres of a bank,and my mother said she was a greedy bitch.
TheCappodon 4 months ago 4
@TheCappodon Your comment made me laugh =)
MCsuperChristina 4 months ago in playlist More videos from TheYoungTurks
Poop
katman04 4 months ago
ok just on a note of hypocrisy didnt you talk down to herman im stupid as fuck cains idea to have bills no longer than 3 pages?
they brought him on for appearance sake just like van jones
narezul 4 months ago
Close your accounts with banks and open up credit union accounts.
judoyodan 4 months ago 124
@judoyodan doin it this weekend:)
LANDSHARK7130 4 months ago
@judoyodan What are credit union accounts?
poopikins 4 months ago in playlist More videos from TheYoungTurks
F.D.I.C should develop a formula for guaranteeing deposits proportional to the percentage of depositor funds gambled. The banks should be forced to publish this information so depositors can determine how much they might get back if the bank fails.
I realize this contradicts the reason the F.D.I.C. was created.
BlankBrain 4 months ago
@TheYoungTurks watch Margin Call.
MrMurraypants 4 months ago
If everyone withdraws their money, nothing will happen to the banks... Simple economics. Only way to fix any problem we have now is to get the money out of POLITICS, not the banks.
pragcap(dot)com/could-o-w-s-create-a-run-on-the-tbtf-banks
goldenshots 4 months ago
304 views and 461 likes
brazilianirishcomedy 4 months ago in playlist More videos from TheYoungTurks
If I was an American, I'd close all my bank accounts, and open bank accounts with Canadian banks, which are regulated.
BrandonSchleifer 4 months ago
Lol dont forget the white men who also fill those positions.
0mega519 4 months ago
This has been flagged as spam show
Financial Enemy of Greece, Ireland, Italy, Spain, Portugal, & America - Jew
1.Goldman Sachs CEO, Lyold Blankfein -Jew
2.IMF Deputy CEO, John Lisky - Jew
3.Ex IMF CEO, Dominic Strauss -Jew
4.World Bank CEO, Robert Zoellick -Jew
5.Ex World Bank CEO, James Woolfesen -Jew
6.Fed Chairman, Ben Bernanke - Jew
7.Ex Fed Chairman, Alan Greenspan -Jew
8.Obama Treasury Secretary, Timothy Geithner-Jew
9.George Bush Treasury Secretary, Hank Paulson -Jew
Stevie68000 4 months ago
There is no good idea with a well thought out basis that can't be completely destroyed by giving it to a pack of self serving bureaucrats.
I could make myself a fortune playing poker in Vegas if I had backers that would keep handing me money to play with. I suck at poker.
Richardisdorky 4 months ago
@Richardisdorky That is EXACTLY what they are doing with your bank account, they are gambling with it, PLUS they are not giving you any of the winnings, if they win.
They got RID of the rules that forbade this.The result is, that more and more deposits are being gambled, and banks are now insolvent.
dangerouslytalented 4 months ago
@dangerouslytalented Not my money. I don't keep it in the banks. Only a fool would put their money in an American bank. Other then that. Your quite right. Transfer all your money and holding to a Canadian Credit Union. It takes about two days to do all the paper work, but your money will be safer. The American banking system is a lost cause, get your money out while you still can.
Richardisdorky 4 months ago
@Richardisdorky Australian banks are also very sound, with strict regulations.
dangerouslytalented 4 months ago
@dangerouslytalented True but then you have to deal with over sea transaction laws. Canada is part of NAFTA. The rules are much more simple.
Richardisdorky 4 months ago
democratic socialism FTW!
intheory32 4 months ago
thank you for that, Cenk. Most people are not aware of the problem due to news cycles on TV.
k2c3po01 4 months ago
Alright I made it to 1:43 seconds.... I am beginning to see it. The idea of being a REP or a DEM is just that, an idea. A concept used to divide the people on issue that take your eyes from their real goal. Maybe I just left the reservation, just completely lost it I don't know. I am beginning to think the NWO nuts are on to something. I can't believe I am saying it but that is the only conclusion I come up with.
Lariasio 4 months ago
Lynch every politician that got pork from this bill
deadman12078 4 months ago
Well GOP and GOP Lite (dems) have a history of not like mixing with people who know the facts. Stigletz included.
sophiemarissa 4 months ago
The United States will turn into a third world shit-hole if you don't take back your nation from the greedy bankers. Don't allow your quality of life to continue to slid Americans, learn to fight back and gain back control of the system. You must, otherwise your children's children will look at us as all fools.
ogrish84 4 months ago
No person who supports central banking is "in favor of the free market"
UtubeMyAccountName 4 months ago
@UtubeMyAccountName Central banking worked for 70 years, before the Reagan/Bush/Clinton/Bush deregulation.
dangerouslytalented 4 months ago
@dangerouslytalented Without disputing your claim , what does that have to do with my point?
All I said was that support for central banking was ant-free market.
UtubeMyAccountName 4 months ago
There is only one way we can get the bankers to listen to us: We all must withdraw our money from those banks and move to credit unions. Explain to them that your money is not to be used as collateral for their drunken gambling and this is the only way you can ensure it. The only way they'll listen is if we hit them where it hurts them most.
jawayetti 4 months ago 70
@jawayetti I 20000% agree with you, I would take my money out of those banks in a heart beat. These bankers know that ppl are wanting to do that, especially while the movement is going on, so they are trying to make it impossible for them to remove their money. I haven't deposited a deposit ina bank in God knows how long. I refuse to be their stepping stool.
dadreamzworld 4 months ago
@jawayetti And this approach doesn't require any politician signing any document or anything. This is DIRECT ACTION on the Banks.
mrstrings2006 4 months ago
The Volker rule is just trying to polish a turd. The entire banking system is corrupt. What needs to be done is to remove Government from banking completely since it is Government regulations that create these behemoth banking corporations and destroy their competition. Fractional Reserve banking would be deemed as raud and disappear and people would begin using money that can be trusted like gold and silver rather than Federal reserve notes that have no more intrinsic value than toilet paper
elfornse 4 months ago
Volker rule or not, the banks always have been "gambling" with the depositors money, this is the basis behind the fractional reserve system.
All the Volker rule does, is what kind of investments can a bank make.
marekknowak 4 months ago
Ron Paul said Volker is the only Fed Chairman he liked....
jjcale1111 4 months ago
Cenk ... also talk about the Bank of America Derivatives
jjcale1111 4 months ago
America is joke, what's going on with your politician. What is the point of you guys voting
DersimLondon 4 months ago
@DersimLondon its sad that i completley agree with you.
werewolf873 4 months ago
@DersimLondon And people wonder why voter turnout is so low. It is a sad joke.
deadman12078 4 months ago
interest rate derivatives are MUCH bigger than the currency side.
in 2001, it was about double the size in terms of market value and about 3 times in terms of notional principal.
InsanityPrevails1 4 months ago
Maybe we should elect a president that isn't bought
mesmokumpeacepipe 4 months ago
END THE FED
mesmokumpeacepipe 4 months ago
Arrgh, I'm sick and tired of the argument "this is bullshit because it's liberal". All I could say is "AND?!!!" Geez, the liberal argument makes as much sense as "you're a woman so your voice doesn't count" argument.
flipmaya 4 months ago in playlist More videos from TheYoungTurks
Improve gov't OVERSIGHT on Corporations, Banks & Wall Street to prevent misbehavior; punish politicians severely for taking corporate bribes & job offers; high tariffs on corporations that move money/services/production overseas, no union busting, Corporate Citizenship repealed. No corporate/private ownership of hospitals/prisons, No more war-profiteering. Increase taxes on the 1% wealthy. Science & the Ethic of Reciprocity, NOT religion should be the center of civil behavior. TZM FTW
xephyr1000 4 months ago
This has been flagged as spam show
@xephyr1000 wrote: "the Ethic of Reciprocity"
Is that what you were teaching that 10 year old boy? You know, the one you spent time in prison for sodomizing?
You fucking piece of shit.
fubaraoul 4 months ago
I'm a libertarian and I definitely agree.
theUSER101 4 months ago
More proof we are getting fucked without a kiss.
random69ism 4 months ago
what the banks want the banks get.
MTVVH1sucks 4 months ago
@MTVVH1sucks maybe we should burn down the banks.
random69ism 4 months ago
@random69ism Yeah right! the government would imprison anyone who even threatened doing so and would execute those who would attempt it. Sadly we have become a plutocracy that has enslaved the populous into wage slavery and inescapable debt.
MTVVH1sucks 4 months ago
@MTVVH1sucks That is the thinking that allows it to continue.
random69ism 4 months ago
@random69ism You know I agree 100% but we both know that inspiring a violent revolution in America is impossible. It takes only one glance at the police beating protesters on wallstreet to know that whenever the American people fight for economic justice we are boxed into a corner and ignored. The only thing we can do at this point is a nation wide TIGER STRIKE we can take our money out of the banks and refuse to work collectively and prove that they need us more than we need them.
MTVVH1sucks 4 months ago
We just have Morons running America but one thing the American will not vote for the Repubicans because they are helping the American people at all. And the American people are the Bosses and the jig is up.
sonofatiger 4 months ago
@sonofatiger Dems are fucking us as well we need an Independent prez.
random69ism 4 months ago
@random69ism That is Tune I would like to see that to happen untill the Americans can stop voting for the Repubicans first for one term but the American have to show the goverment leaders that the American people are the Bosses and they work for us the people not their selfs.
sonofatiger 4 months ago
This has been flagged as spam show
The truth shall set you free. But first it will piss you off.
TheyCallMeGawd 4 months ago
This whole Left-Right paradigm must stop.
trybal007 4 months ago
Good thing i only have five dollars in the bank !!!
xfucktheworld831 4 months ago
IN MEXICO BANKS HAVE TO PAY U FOR THE MONEY YOU PUT (INVEST) IN THEIR BANKS.....BY LAW!
THATS THE WAY IT SHOULD BE.
TheOzzyism 4 months ago 53
@TheOzzyism then move to mexico, all caps make you look STUPID
MrStupidfag 4 months ago
@TheOzzyism Mexico has banks ??
bgrim2008 4 months ago
@bgrim2008 Lol, of course they have banks, The richest person in the world is mexican.
Carlos slim, not Bill Gates.
also the biggest only drug lord in history to ever make 1 billion(not million) is also mexican.
El Chappo Gusman
Where else would they keep all that money under their mattres? Lol
TheOzzyism 4 months ago
@TheOzzyism Offshore accounts, Bonds, stocks, or real estate...
Polydynamix 4 months ago
@Polydynamix Probably el chappo?
but carlos slim made all his money in communications.
and the banks are well regulated since the 1986 crash, so they cant get away with half the stuff in the u.s.a.
TheOzzyism 4 months ago
does anybody else feel like our country is doomed?
sgf129 4 months ago
No matter what we do we are fucked up in 2012 and will have someone running republican bills. As I wrote many time I rather have someone insane like Bachman running the country because I know she will stand all alone where nobody in her own party or the democrats will agree with her and stuff passed. Obama is too good to get republican stuffs passed since democrats don't want to fight him. If there is someone I wish for is a real contender besides some unknown like Stewart Alexander
yes4me 4 months ago
I'm a libertarian but even I think this makes perfect sense, though I'd go further than this, it's like 70% of the way to a free market if Paul Volcker got his way here : \
Odinshi 4 months ago
You know what Paul Volcker is? An actual conservative.
lukegreen37 4 months ago in playlist More videos from TheYoungTurks
@lukegreen37 I feel sorry for the actual conservatives. They have been left behind massively by the crazies who have abducted the Republican party, and to a lesser extent, the Dems, too.
dangerouslytalented 4 months ago
@dangerouslytalented I feel even worse for the actual liberals... talk about a group with absolutely no reprepsentation in government for at least the past 30yrs.
wistoncap 4 months ago
@wistoncap At least the actual liberals know that they are almost unrepresented, whereas the actual conservatives have had their entire movement hijacked by radicals.
dangerouslytalented 4 months ago
@dangerouslytalented why lesser extent for the dems? Im a liberal, and I cant stand 90% of the democratic party - I dont think its a lesser extent at all. Both parties brainwash and betray their supporters.For instance what has the Obama admin brought us? mandated private insurance (which is now 12% more than when he took office). More war. More tax cuts for the rich. An extension of the Patriot act. More giveaways to the banks. Extended patents for the big drug companies etc etc etc.
dagorian86 4 months ago
The revolution will eat its own - Volcker was the architect of the neoliberal state and now he is called too liberal LOL
johncrwarner 4 months ago
I agree with Paul Volcker.
Republicans have shifted way to the right.
Making it hard for a conservative like me to support them.
That is why I'm leaning towards democrats now.
TOTCD 4 months ago 3
@TOTCD If they go any more right they will end up on the left!
dunndudebemelol 4 months ago
Remove government, and these banks would self destruct all on their own...
l1xx3r 4 months ago
The reason they don't want to regulate these markets is because they are so large. If they start regulating them, all that money will leave the derivatives market, and enter into the normal money supply causing inflation to skyrocket.
The derivatives market has been like one big suction machine preventing the money supply from getting too large. I know its not a traditional interpretation of things. but its my theory.
thefranciswatts 4 months ago
@thefranciswatts The problem is, that FAR TOO MUCH money is being sucked out of the economy. This is causing inflation of prices, but not a matching inflation of incomes.
dangerouslytalented 4 months ago
I'm withdrawing all my money this week. I don't get shit in interest anyway.
tstruss912 4 months ago 4
@tstruss912
if you don't get any interest at all, your purchasing power will fall more because of inflation. some interest is better than nothing.
InsanityPrevails1 4 months ago
@InsanityPrevails1 True, but if we all pull our money out, protest, etc, etc, then their crazy schemes will finally come to an end and inflation will be much lower--then my money will be worth more than if I left it in the bank. Even if that wasn't the case I would not leave it in there because I hate them.
tstruss912 4 months ago
Ron Paul FTW!
Harry182182 4 months ago
The banks OWN the govt; How else would they get their own way on everything all of the time? Obama can't squeeze out a fart without first getting Goldman Sach's permission to do so..
crocfme 4 months ago
They should nationalize the banks as part of the implementation of democratic socialism.
neacej1 4 months ago
withdraw all your money then.
Ristar85 4 months ago
Isn't Volkers rule exactly the same as the Glass Stegal rule that was dumped in the trash can in the 80's?
JPMorganMustDie 4 months ago
@JPMorganMustDie
no, it isnt.
treysparker 4 months ago
Its going to take several actual popular capitalists on the right to come out and say what we have now is not capitalism, but corporatism.
bungerman1000 4 months ago in playlist More videos from TheYoungTurks
How Volcker rule is different from Glass & Steagall?
Why they don't just bring back the GSA?
allgoo19 4 months ago
@allgoo19 To a degree they will ... it's part of the Dodd-Frank.
Volcker's rule actually focuses on proprietary trading .. but the problem is the definition between speculating and hedging.
WangDugay 4 months ago
Basically the law is that the banks CANT rape us up the ass BUT if they happen to bend us over and they happen to get horny, they can RAPE AWAY!
dfg93353 4 months ago
Volcker is JUST ANOTHER ONE of Sarah Palin's DICKLESS and BALLESS BITCHES and PUSSIES! We DONT need the Volcker rule, we NEED the Palin Rule! If this country implemented the Palin Rule, this whole economic mess will NEVER happen!
ecwaufisxtreme 4 months ago
@ecwaufisxtreme what is the palin rule?
dumontgo 4 months ago
@dumontgo. There is no "Palin Rule." ecwaufusxtreme just pulled it out of her ass just like she pulled stuff out of her ass about Sarah Palin being POTUS and of there being a "Palinista Army," "Palinomics" and "Palin World Order." ecw is a crackhead, alcoholic, dyke, KKK member, psycho, femi-nazi, liar, coward and a Palin plant.
cne08 4 months ago
Why cant we hire a mathematician or a scientist from a university instead of someone from Wall Street to run or economy? They are good with statistics and arent bought by the corporations, they're just regular professors.
biggydx 4 months ago
@biggydx They may not be bought before they get to DC, but about 4 hours later they'll be wearing Goldman Sachs T-shirts. That Brinks truck will back up to their door.