While I agree that quantitative easing has been greatly misused in the recent economic crisis to support the corrupt banks and governments, anyone watching this video that thinks it's really just pretend-bullshit that doesn't actually work is an economically illiterate tool and should go earn a degree in the subject.
It's a completely viable and justifiable method of improving economic growth in times of unstable consumer and business confidence and is a vital tool when used correctly. Idiots
VERY FUNNY. inaccurate however. Quantitative easing is not the printing of money. Instead it is an unconventional monetary policy in which the FED purchases a variety of assets from banks thereby increasing their liquidity. This will take pressure off banks to loan money. QE is being used because we are in a liquidity trap which means that interest rates are zero bound (meaning nearly zero) and cannot be pushed any lower to stimulate investment, borrowing
I think what they assumed was that the government didn't have any money in the first place. In order to buy off assets from the bank, they would need to print out more money and give it to the bank via the transactions.
@reLENTless1897 We're not in a liquidity trap. The problem is debt and the plan is quite clearly to repay it with money created out of nothing. Were does the FED get the money to purchase assets? It creates it as easily as I can enter $1,000,000,000,000 in this post.
@tonycavanna quite right ! ! ! The Fed just creates the credit ......out of thin air . Then it charges interest on that credit. Its a CON. Its smoke and mirrors.
The Australian Reserve Bank should be doing this, not some privately owned " central bank ". And it is the public who have to pay that debt. Bloody disgraceful.
@reLENTless1897 isnt the problem here HOW the Fed create the money to purchase bank assests ? And they then charge interest on that amount, AND hold collateral ( in the form of bonds ) to cover that " debt " . cant the Reserve Bank do that at zero interest, instead of borrowing ( which is essentially what is happening under another guise ) from the Fed ?
@reLENTless1897 I think you're the only person with a sound economic knowledge on this entire damn video. I thought it was funny but it's worrying how many people take it completely literally and develop radical views on such topics as a result.
Economics should be a compulsory subject for everyone to study if they want an opinion on it.
'Rumpelstiltskin' is a fairytale about a girl who was supposed to be able to turn straw into gold - and did this with the help of a fairy (Rumpelstiltskin). You've probably heard it somewhere in your childhoods but forgotten. Anyway, analogous to central bankers magically turning "paper" into "money".
These guys are absolute comedy genius, watched loads of these vids and even when it's Australian politicians being mocked that i'm not familiar with, it's still funny as the universal idiocy of politicians everywhere rings true.
@AussieMatters G'day... Yairs. True. But, underlying all, the past 5,000 yrs' Economic Growth has already Consumed the Global Environmental-Surplus. Maintaining Current levels of Economic-Activity is impossible. Further growth is a Psychotic Fantasy. Prepare for Implosion. Grid-Failure, & Petro-Powered standstill, is imminent....! Meantime, search 'SunFoil Science' to view the Raw Data. Retrofit y'r vehicle with a Piston/Solar Hybrid Electrical System. Save Fuel. Ciao !
RBA's website has a money museum section. Go to 1933--they admit we've been off the gold standard since then. We then went into a "goods based" economy. Trouble with that in 2011 is that most of our "goods" come from China--the same country we owe $200+ billion. See section 51 of the Australian Constitution. Any government that can issue bonds, can create it's own interest free currency. Buy they won't because the Jewish Rothschild's international scam depends us being in debt to them. Shalom.
As always these guys are brilliant! They should be advising all politicians about really being honest to the masses. Unfortunately the whole Western political & monetary system will collapse, which as Marc Faber confirms "Ve are doomed!"
Once the grassroots of both the ‘democratics/labourites’ and ‘republicans/conservatives’ recognise who their common enemy is, it’s all over for the oligarchial 0.01%
The scam has been going on for more than a century and us, our children, our grandchildren will all be debt slaves to Wall Street international bankers.
Check out dev (dot) republicoftheunitedstates (dot) org (slash) what-is-the-republic (slash) history.
The non-Federal non-Reserve welcomes you to your destitution after 100 years of paying out an annual dividend of 6% to their mega-bank owners while having a .gov website. When you consider that Americans, both ‘democratic/labour’ and ‘republican/conservative’, before 1913 were never subject to this transfer of their wealth to the mega-banks you have to ask yourself how much less poor would the American general public be today without it and how much less warfare the world would have been spared.
End the non-Federal non-Reserve and all the other privately owned central banks around the world. JP Morgan and Morgan Stanley are big shareholders in the non-Federal non-Reserve but the general public will never be offered a share. Their website in section 7 states that stockholders receive an annual dividend of 6% as a profit for providing a paper currency. Teach yourself about the Austrian school of economics and you will understand we have centrally planned economies not free market.
@paulrprichard We have Czech National Bank here and it's state institution from almost start (1919) of our independent republic. It is established under our Constitution and it's activities (including currency issuing) are directed by law. The supreme governing body of the CNB is the Bank Board, consisting of the CNB Governor, two Vice-Governors and four Bank Board members. All Bank Board members are appointed directly by the President of CZ.
@paulrprichard We have Czech National Bank here and it's state institution from almost start (1919) of our independent republic. It is established under our Constitution and it's activities (including currency issuing) are directed by law. The supreme governing body of the CNB is the Bank Board, consisting of the CNB Governor, two Vice-Governors and four Bank Board members. All Bank Board members are appointed directly by the President of CZ.
quantitative easing= currency devaluation. did you know australia doesnt even own its own currency? we borrow it from our "their" reserve bank at interest. we need to reclaim our currency, and regulate the value of it. a 1% sales tax on all wall street, ASX transactions so its then reportable and traceable, and you can only speculate on shares ect if you own them. its very simple.
"Dave! this is not gonna work ! Look , i just explained it to a bloke and he saw through it straight away ... he is not even IN the banking racket ! " LOL ;) ! Brilliant ! just Brilliant ! ;)
I feel better now.
antuerius 14 hours ago
Have a Super Night!
ResumeBearNetwork 3 days ago
While I agree that quantitative easing has been greatly misused in the recent economic crisis to support the corrupt banks and governments, anyone watching this video that thinks it's really just pretend-bullshit that doesn't actually work is an economically illiterate tool and should go earn a degree in the subject.
It's a completely viable and justifiable method of improving economic growth in times of unstable consumer and business confidence and is a vital tool when used correctly. Idiots
Blessthebreakdowns 4 days ago
Thank you for this priceless education on banking system. I didn't have to spend years in school studying economics nor finance. Thank you so much.
chosop25 1 week ago
Take that piece of shit "one direction" advert off of here! No one should have to sit through them bunch of pussies, ever!
Thecreamcloud 1 week ago
Banking Racket is too fucking spot on!!!
Sell everything, quickly!
ThePassiveFist 1 month ago in playlist Financial Crisis
I agree because then monkey couldn't take over
semejantejose 1 month ago
VERY FUNNY. inaccurate however. Quantitative easing is not the printing of money. Instead it is an unconventional monetary policy in which the FED purchases a variety of assets from banks thereby increasing their liquidity. This will take pressure off banks to loan money. QE is being used because we are in a liquidity trap which means that interest rates are zero bound (meaning nearly zero) and cannot be pushed any lower to stimulate investment, borrowing
reLENTless1897 2 months ago
@reLENTless1897
I think what they assumed was that the government didn't have any money in the first place. In order to buy off assets from the bank, they would need to print out more money and give it to the bank via the transactions.
Honibaz 2 months ago
@Honibaz Yes, indeed. However, the Fed doesnt print it, they credit/increase each banks reserves by whatever amount they purchase the assets for.
reLENTless1897 2 months ago
@reLENTless1897 And where does the Fed get the money to purchase these assets? Ahh, of course that's right. They just print it out of thin air.
InfamousPeter 2 months ago
@reLENTless1897 We're not in a liquidity trap. The problem is debt and the plan is quite clearly to repay it with money created out of nothing. Were does the FED get the money to purchase assets? It creates it as easily as I can enter $1,000,000,000,000 in this post.
tonycavanna 4 weeks ago
@tonycavanna quite right ! ! ! The Fed just creates the credit ......out of thin air . Then it charges interest on that credit. Its a CON. Its smoke and mirrors.
The Australian Reserve Bank should be doing this, not some privately owned " central bank ". And it is the public who have to pay that debt. Bloody disgraceful.
tasman763 3 weeks ago
@reLENTless1897 isnt the problem here HOW the Fed create the money to purchase bank assests ? And they then charge interest on that amount, AND hold collateral ( in the form of bonds ) to cover that " debt " . cant the Reserve Bank do that at zero interest, instead of borrowing ( which is essentially what is happening under another guise ) from the Fed ?
tasman763 3 weeks ago
@reLENTless1897 I think you're the only person with a sound economic knowledge on this entire damn video. I thought it was funny but it's worrying how many people take it completely literally and develop radical views on such topics as a result.
Economics should be a compulsory subject for everyone to study if they want an opinion on it.
Blessthebreakdowns 4 days ago
This has been flagged as spam show
The look on Clarke's face when he says "the number of copies you require" is priceless.
Honibaz 3 months ago
Comment removed
Honibaz 3 months ago
'Rumpelstiltskin' is a fairytale about a girl who was supposed to be able to turn straw into gold - and did this with the help of a fairy (Rumpelstiltskin). You've probably heard it somewhere in your childhoods but forgotten. Anyway, analogous to central bankers magically turning "paper" into "money".
extrusve 3 months ago 7
Big like a Bofors Gun
jamschnitter 3 months ago
Lol... all printers facing the window! XD 1:32
abeismain 3 months ago
Funny as hell.
vonGleichenT 3 months ago
superb, but as another poster said...if only it WAS a joke.
class37s 3 months ago
ILLUMINATI BANKSTERS AT THE FINEST!
hendo19742 3 months ago
Yup,interested in the Rumpelstiltskin reference as well.
RKAddict101 3 months ago
@RKAddict101 It's a reference to spinning gold out of straw - a fairytale, like the world economy
thebresker 3 months ago 2
NGDP Targeting FTW!
snoopyflick 3 months ago
Hahah, very funny. Can someone explain the Rumpelstiltskin reference?
Agirlhere11 3 months ago
A bank of printers, like a Bofors Gun, facing the window...
Classic!!!
DunlopDaytona 4 months ago
thats funny
ramjamflimflam 4 months ago
These guys are absolute comedy genius, watched loads of these vids and even when it's Australian politicians being mocked that i'm not familiar with, it's still funny as the universal idiocy of politicians everywhere rings true.
IOptOut26 4 months ago 2
@AussieMatters G'day... Yairs. True. But, underlying all, the past 5,000 yrs' Economic Growth has already Consumed the Global Environmental-Surplus. Maintaining Current levels of Economic-Activity is impossible. Further growth is a Psychotic Fantasy. Prepare for Implosion. Grid-Failure, & Petro-Powered standstill, is imminent....! Meantime, search 'SunFoil Science' to view the Raw Data. Retrofit y'r vehicle with a Piston/Solar Hybrid Electrical System. Save Fuel. Ciao !
WarblesOnALot 4 months ago
This is the best thing on the ABC...more of these blokes...brilliant.
ianmcgeachy 4 months ago
If all the printers were facing the windows, then wouldn't ordinary citizens be taking advantage of the falling money.
BoundaryShift 4 months ago
@BoundaryShift Yes, thats what we call a stimulus package ^_^
abarford1 4 months ago
Those guys are so pro
TheLandstrider 4 months ago
Roger Ebert's twitter got me here.
redlightmax 4 months ago 3
Straw into gold is how it works.
capablemachine 4 months ago
RBA's website has a money museum section. Go to 1933--they admit we've been off the gold standard since then. We then went into a "goods based" economy. Trouble with that in 2011 is that most of our "goods" come from China--the same country we owe $200+ billion. See section 51 of the Australian Constitution. Any government that can issue bonds, can create it's own interest free currency. Buy they won't because the Jewish Rothschild's international scam depends us being in debt to them. Shalom.
AussieMatters 4 months ago
pull up a chair and I'll tell you a tail....Brillant! These guys are a light into all that is dark!
aldowtsteel 4 months ago
As always these guys are brilliant! They should be advising all politicians about really being honest to the masses. Unfortunately the whole Western political & monetary system will collapse, which as Marc Faber confirms "Ve are doomed!"
barrykli96 4 months ago
1:34 "all facing the window"
WildeJagd1 4 months ago
Perfect explanation how the monetary policy works.
GuitarsRockForever 4 months ago
@GuitarsRockForever Or rather how it doesn't work.
LibertarianChristian 4 months ago
"The process of creating money is so simple it repels the mind."
Tasadaru 4 months ago
"Big like a Bofer's Gun," Oh, 2011 xD
EasilyAmbiguous 4 months ago
Hahaha... too sad to be sad :)
SubzeroedMind 4 months ago
If only this was just a joke, rather than global monetary policy
mokum777 4 months ago 109
Brilliant as always:)
notlobrf 4 months ago
$1 Trillion... hmm I wonder what government that is....
ChampionStuff 4 months ago
"All facing the window." LOL.
Xaphirezst 4 months ago 4
Once the grassroots of both the ‘democratics/labourites’ and ‘republicans/conservatives’ recognise who their common enemy is, it’s all over for the oligarchial 0.01%
The scam has been going on for more than a century and us, our children, our grandchildren will all be debt slaves to Wall Street international bankers.
Check out dev (dot) republicoftheunitedstates (dot) org (slash) what-is-the-republic (slash) history.
paulrprichard 4 months ago
Associations between Wall Street international bankers and the rise of both Hitler and Naziism in Germany and Lenin and Bolshevikism in Ruusia.
Check out reformed-theology (dot) org (slash) html (slash) books (slash) wall_street (slash) chapter_12.htm
The same guys profited from bankrolling both sides of the European theatre of World War 2 – that is really, really special.
paulrprichard 4 months ago
The non-Federal non-Reserve welcomes you to your destitution after 100 years of paying out an annual dividend of 6% to their mega-bank owners while having a .gov website. When you consider that Americans, both ‘democratic/labour’ and ‘republican/conservative’, before 1913 were never subject to this transfer of their wealth to the mega-banks you have to ask yourself how much less poor would the American general public be today without it and how much less warfare the world would have been spared.
paulrprichard 4 months ago
End the non-Federal non-Reserve and all the other privately owned central banks around the world. JP Morgan and Morgan Stanley are big shareholders in the non-Federal non-Reserve but the general public will never be offered a share. Their website in section 7 states that stockholders receive an annual dividend of 6% as a profit for providing a paper currency. Teach yourself about the Austrian school of economics and you will understand we have centrally planned economies not free market.
paulrprichard 4 months ago
In which nations do the people own the institution that prints their currency ?
The Bank of England was supposedly nationalised in 1949 but do I know if it really was or if it was then has it since been privatised ?
paulrprichard 4 months ago
@paulrprichard We have Czech National Bank here and it's state institution from almost start (1919) of our independent republic. It is established under our Constitution and it's activities (including currency issuing) are directed by law. The supreme governing body of the CNB is the Bank Board, consisting of the CNB Governor, two Vice-Governors and four Bank Board members. All Bank Board members are appointed directly by the President of CZ.
I thought it's essential to be owned by state.
Vlakpage 4 months ago
@paulrprichard We have Czech National Bank here and it's state institution from almost start (1919) of our independent republic. It is established under our Constitution and it's activities (including currency issuing) are directed by law. The supreme governing body of the CNB is the Bank Board, consisting of the CNB Governor, two Vice-Governors and four Bank Board members. All Bank Board members are appointed directly by the President of CZ.
I thought it's essential to be owned by state.
Vlakpage 4 months ago
quantitative easing= currency devaluation. did you know australia doesnt even own its own currency? we borrow it from our "their" reserve bank at interest. we need to reclaim our currency, and regulate the value of it. a 1% sales tax on all wall street, ASX transactions so its then reportable and traceable, and you can only speculate on shares ect if you own them. its very simple.
seinfeld11123 4 months ago
fantastic
bsport131 4 months ago
Comedy gold boys!
And everything is true!
anuthutantrum 4 months ago
"he's not even in the banking racket" I love these guys!
geoheatpumps 4 months ago
"Dave! this is not gonna work ! Look , i just explained it to a bloke and he saw through it straight away ... he is not even IN the banking racket ! " LOL ;) ! Brilliant ! just Brilliant ! ;)
artyfarty3 4 months ago 63
amazing!
garrethdavis 4 months ago
rofl... "that is the global fear at the moment"
etzel33 4 months ago
lmao these guys are awesome!
JAYREXY 4 months ago
fackin-A
MensRifleAssociation 4 months ago
i actually study economics at uni and its not that far from the truth
fitton49 4 months ago
Mighty.
BINKIE2000 4 months ago
LOL this is great
Talentz92 4 months ago
Bruce Bird & Bruce Fortune?
gmoar 4 months ago
This should be taught in universities.
FictionCautious 4 months ago
This is the best video these two have done so far!
DjTSex 4 months ago
I can see the comedy but the lipsync is.....
macro312 4 months ago
@macro312 Lipsync? The picture and audio is perfectly in sync for me, so you might be having browser troubles.
Saxifrage040210 4 months ago
@Saxifrage040210
nah, the lipsync is perfect! and that is what i'm doubting the credibility....do these guys actually say these things? or....i have no idea
macro312 4 months ago
@macro312 Yes, they're political satirists.
Phyaran 4 months ago
@macro312 Oh, they're comedians, and they're brilliant.
Saxifrage040210 4 months ago
DIGGS!!
Africatravelchannel 4 months ago
Well done on letting the cat out of the bag for those in TV land that are still in the dark about how the monetary system works.
JaimesPhazon 4 months ago
love these so much
MrRazzeldazzel88 4 months ago
hahaha
thejackkelly94 4 months ago