Lehmann Brothers had a AAA rating until they went bankrupt.
That's how serious these rating agencies are.
Also the biggest debt nation ever in the history of the world the US have a AAA rating while at the same time the biggest creditor nation of the earth China has a AA- rating.
For god's sake who is this Asian clown?! The government can't save us, they make things so much bloody worse! Telling us our deficit to GDP ratio is favourable... ITS NEVER FAVOURABLE WHEN U SPEND MORE THAN YOU BRING IN!
Watching this makes me feel almost ashamed to be British watching these clowns on the panel talk such bull. For god's sake put down your Keynesian instruction manual and get real. How much money spent is too much? When is debt too much debt? Such fools, and we do not need these people telling us that their economic policies are so wonderful, when in truth they are appalling flawed.
I don't know what rock they pulled Choudhry out of but he has no idea what he is talking about. It's idiots like him why the world is in such a mess. Roger's know what he is talking about, Choudhry is a clown.
I cannot understand these clowns. They want to pay a debt what is totally artificially created? Just cut the damn bankers off and let nations issue their own money INTEREST FREE.
The ratings agencies were giving AAA ratings to the junk CDOs right up until the shit hit the fan. They have NO credibility! And these two stuffed shirts that are debating Rogers... are they self made billionaires? Or Keynesian economics fanboys? God help any that listen to them and ignore Jim.
Rogers is right! We should NEVER `prop up` failed banks/companies. We MUST let `failure` fail. That is `free market` capitalism. "Bullshit" always fails.
@harperonline who says i'm xenophobic?? I'm just being a realist. There's an image that comes to mind when thinking of brits. Culture, tradition, proper, bad teeth..etc. Not to mention some of you still think you're God's gift to Earth. I'm sure you have an image of Americans in your head as well. The majority of us are indeed fat and we seem to love war too much.
@dannylko - Ah, this is where you are wrong. I personally have nothing against the US or its people, and only a small percentage of the 'old school' brits think that they are gods gift to the earth. The UK failed because the empire grew too big and we ran out of money (just like what the US is doing) and you WILL go the same route.
Lets be clear, I was trying to highlight the issue - The UK's fiscal postion is a mess, the US and Europe (except Germany) is also the same.
@harperonline I'm not saying all of you are like these two guys speaking but stop kidding yourself. You're truly blind if you don't think many Brits aren't uptight like these assholes. Then again if you can't see it, maybe you're afflicted with the same disease yourself.
@dannylko - No I am not fortunatley for me, however you miss my point. Yes these guys have silver spoons up there sphincters, and yes they are talking nonsense, but that not because they are brits.
I am amazed that we (UK) still carry this stereotype as only 5% of our country is like this and they all live in London (and they do love things up their rear-ends).
Anyway, why are you watching vids about the UK? I guess you are American and haven't you got your own fiscal issues - Vote Ron Paul
@harperonline i was actually watching Jim Rogers. I don't go looking for videos with brits in them - trust me. I was probably the only one in the Western Hemisphere who did not care at all about William and Kate. Jim makes so much sense that I'm crying that his advice will never be followed. I don't know how it is in the UK, but here in the US anyone who talks sense and is actually intelligent is never followed and I mourn the state of our affairs because of that. The world is over.
@dannylko - No, there were two of us ignoring the wedding. I was actually critisied by many of my peers for ignoring the wedding, but that's the result of the celebrity obessed people in my country.
As for guys like Jim never being followed, its the same here. If you speak sense and talk about Austrian economics like I do you are classed as out on the political fringe with the likes of the nationalists or Nazi's. Jim and Ron Paul are hero's in my eyes. We need a tea party over here!
@dannylko - I missed the wedding on purpose and was critisised for doing so!
I think the likes of Jim and Ron Paul are hero's and I wish the rest of the US (as you influence the world economy) would listen to these guys and maybe our guys (US poodles) would follow suit for the right reason. We are fiscally ruined and the Fed and BOE refuse to turn of the debt machine. Is the Tea Party really a big a hit as it seems to the rest of the world? I wish we had something similar here...
@harperonline Sarah Palin is part of the Tea Party. That is enough reason for me not to vote for any of them. Unfortunately, many people in America identify with her because she's pretty, she's a soccer mom, lots of kids, white, rich....pretty much everything republicans are. If a Tea Party candidate ever becomes president, I'm seriously moving.
credit agencies work for uk usa banks so they only give bad ratings according to their own speculatyive wishes, they dont ever give bad rating to usa or uk banks or countruies or else it would go agains their interests, but in fact uk and usa are totally bankrupt and will have to default the usa own more then the whole planet produces in one year, and its growing, and the usa also and uk dont produce anything anymore but act like they are economical superpowers
@badsign1980 - Well said. How long can the US and UK inflate their respective currencies until the markets give up on them? I am concerned for my children's future and our continuing fiscal models.
wat a waste of time. those idiots should just shut up and let rogers speak. moorad ur a lazy donkey , overcome ur big fat head out of ur arse. housing market in a slump? its overpriced u idiot. stop doing PR for a fail system.
4.20- "Were living in democracy, and the people wont allow twenty years"
That's hilarious, use the people to justify bailing out bad banks, hear that poor person, that's lost his job and if he ever gets another one will be paying tax to the people the put him out of work- they gave your tax money to the people that unempolyed you, becuse you cannot except pain for a few years.
It's true Jim Rogers does shine as the TV star, but be warned, don't listen to someone just because they are likeable or "cool" on TV. Listen to the numbers and what makes sense, regardless of who seems more likeable.
How much did Gordon Brown paid these clowns to support him? UK's future is not promising precisely because the british economy is losing steam with so much debt and liabilities created by govt. These guys just want to look good by opposing Jim Rogers, specially the raghead!
Jim Rogers is not on a beach in Rio but he's actually traveled for many many years around the world to countries where he DOES invest. Funny how he can afford all that traveling! Meanwhile these two schmucks have just about never traveled outside of London throughout their entire lives and still earn 9 to 5 wages. HE HE HE
Rogers is from Alabama and lives in Singapore. These guys are from London and still live... in London.
Conservatives are actually making cuts and trying to do the right thing, the complete opposite of the Labour scum that we had previously. I can't say the same for the US. That socialist nut Obama still thinks he can spend his way out of the recession...lol.
Remember the tie when George Soros cornored the Sterlings in the 90's?When this Ji m Roger belongs to that group that make that very move,So he knows what he is saying!!
AAA ratings means nothing!The AIA insurance had AAA ratings !What happened to it NOW !!AIG had AAA ratings NOW? Reality is more important than AAA rating.If UK is going bankrupt sound advice is needed.Advice from employee of Aviva and employee of some remote arab bank cannot be taken seriously!!Jim Roger blunt advices sound more concrete and logical,.
Trying to outshine Jim Roger only make him look stupid.Naturally giving example of Japan's mistake of trying to salvage failed banks in 1990 which evidently failed miserably should be appreciated because it is a valuable pointer indeed.Naturally a banker like chaudary will not agree because such an idea does not benifit the banks(especially the incompetent ones.!!)
Jim Roger knows what he is talking about.He is an investors and had made big money in Investment.He was an associate of George Soros and people know who George Soros is.Jim made a powerful point when he said that the bankrupt banks should not be salvage and should be allowed to go bankruptThis Moorad chaudhry is only an employee of a bank and he is acting as if he knows something better than the Guru himself.He should not try to outshine someone who has an impeccable background as Jim Roger.
If he could make money he'd be on a beach in Rio. Like Jim is (more or less) on a beach in Singapore. After pointing this out himself he still believes he's qualified to go on TV to give advice about it and argue with Jim, via Jim's satelite link, from Jim's "beach in Rio" in Singapore. What an incredible man.
I have no idea why the bald guy would think that Jim, or any rational human being for that matter, think it is a good idea to take assets from the "good managers" and give them to the "bad managers".
Sorry but look at USA Half there country is neglected they owe more than the UK, The UK is out of recession now but USA isn't maybe the UK shouldn't pay back it's owed money most countries they borrow from owe us money too. If I'm honest USA is already bankcrupt they just can't admit it, they don't even have FREE health care.
clearly the interview took place before QUANTITATIVE EASING..courtesy of Darling. in that case the news interview clearly would have been completely unecessary..lol
These British guys are really in denial. Alright, lets look at facts, the external debt of the UK is so high, the country is already in negative equity..yes, NEGATIVE EQUITY! It means even if you sell the entire UK- the companies, the military equipment, the pop star's properties etc etc, u STILL won't be able to pay off your increasing national debt. U STILL OWE THE WORLD MONEY. Britain please wake up.. it would be a shame to see such a lovely nation go to waste
Im a little surprised the Pound is heading down again.....I usually get financial information far ahead of the move....but this recent move is unexpected......I wonder what is going on ?
I've spent my life keeping out of debt and being carefull with my money. I'm seething mad that I like everybody else in the UK will have to pay somebody elses dept for the forseable future.
Yeah right. The British music industry will save the UK. Hey when does Amy Winehouse's new album come out? The UK needs some quick cash. Let's get Amy into the studio and out of rehab. Who the hell buys Rolls Royces these days anyways?
@Tracywithafacey Nothing wrong being British, the problem is the British education system, Goldman Sachs and ignorent people in the UK brainwashed by the media. They do not save there income, they are spenders not savers and thats the problem. People infulenced by the media in this country seriously need to take responsibility, manage risk and are being childish.
the UK could save itself billions of pounds by getting rid of the gigantic sponge that northern Ireland is. 1 in 3 work in the government sector and 25% of the people of working age there are on benefits.Thousands of people in Ulster are living in hugely expensive houses all subsidised by the British tax payer.
The Paul Abberley probably gave the best answer in these two videos, even more important than that of Jim Rogers: we in the UK live in a democracy, and only when the crises is continuing for a long period of time without any signs of improvement, then Roger's tough medicine policy would realistically be pursued by politicains.
Jim's policy would be the best in the long-run, but with elections every 4/5 years who would follow them and lose political support and allow extremists to emerge?
May 21, 2009 International ratings agency Standard and Poor's on Thursday downgraded its outlook on Britain's economy to "negative" from "stable" owing to the country's "deteriorating public finances."
Uk has nothing to sell to the world except probably Pride, Rapaciousess, Nostalgia of its glorious past and most of all Hypocrisy. The last one they have a lot. The Fraudulence and Falsehood happening in US and the world today originated mostly from the BRITISH EMPIRE.
As so they speak, Mr Choudhry has prepared his belonging and bought one way ticket...back to India...leaving the english peasant to wonder by their own...Lol
Take a very close look at Moorad Choudhry at 5:15 and remember the smirk on his face. Arrogant reactions like this from people like him got us into this mess. I really hope he's going to get a chance to watch this scene again.
He's a complete idiot, that's what. Rogers is spot on and i agree with many of his sentiments. The UK has NO EXPORT sector. It is a predominantly service-based economy and that isn't anything to hold out for. With the new tax rates coming in, i suspect many of these big banks will just move elsewhere such as Far East and set up new HQs there. Then what does this economy have left? It is a very real problem!
Why do the tax -payers have to bail out the rich banker's, when a small buisness fails the goverment let's them fail. The small buisness man rubs the dust of his shoulder and starts again.
I am a muslim of mixed race origin and I just want to say that i think Jim Rogers is speaking the truth-
Where are all our factories gone? atleast before we use to produce, manafacture, our car industry? men's working clubs?
Even our farmers are ill paid. Were consuming far more then what were producing. Our welfare system just pay's the poor to stay poor. That arab guy speaks through his teeth!
Moorad Chaudhry does not look Arab. i suspect he is Bangladeshi. Anyways the U.K is doomed. It's people looted by internationalist scum and politicians. How many other nations will these scum loot? How many hardworking people's lives will be destroyed?
When will they understand that what is happening now is called financial genocide by bank cartel. The push for a global economy was merely a trap to take away the Sovereignty of individual countries to sustain their own economies. This global mirage was to ensnare previous economies in a domino affect which made it possible to bankrupt the whole world with one vehicle which in this case was the housing bubble of the US.
People have to see the reality of what is...and stop trying to hold on to the status quo. Its amazing how many "experts" were totally clueless about predicting this mess! I love how Jim corrected that guy! haha! If you want to know the facts, listen to Jim Rogers, Peter Schiff, Gerald Celente, and Elaine Supkis!
@Dandaniels1978 They get paid to be idiots There has to be a dept amnesty like they did in biblical times and re instate the Glass Steagal rules Anyway I'm sick of this theater of twerps Time we the people took matters into our own hands - See video - courts afraid of us now and thelawfulbank -
@ahamatmabrahman That's just one solution but it wont solve the real world crisis. That is the inconvenient fact that we have reached the end of growth over the last 150years. The era of cheap oil is over. We need oil and food for the economy to grow, basic physics on a finite planet. No amount of money printing will solve this crisis. Our complex modern society is starting to break down because of lack of energy. It's as simple as that. The root cause of the crisis is Peak Oil.
@Dandaniels1978 we have all that we need but certain people are withholding technology eg see video - greening the dessert - Free energy has been around since Nickola Tesla but eg the man who invented the air powered car was assassinated , never the less the patents have been disclosed. See Patrick Kelly's web site The HHO engine can now be bought on e.bay The only problem we have is the greed and envy of a few freaks
Jim Rogers is right because he only gets paid when his is, he runs his own business and has prevailed for a very long time, and he's so busy making money that he has to do interviews via video link from countries where he puts his money where his mouth is, and makes more profit from his profit than his mouth
exponential growth, any biologist and mathamatician can explain it to a MORON within 2 minutes.
Global market + fractional banking + Moron Govts, and you get Value Bubbles based on exponential growth.
The markets are just reflecting the reality, while the bankers and govts are blackmailing the people to back the illusion of exponential growth through debt in a limited finite world.
How retarded can you get ........ sack and jail them all and let em go bust.
I try to not to be so negative......it is just that the worlds economy is driven by oil in every aspect......I do not wish the people of the UK ill.......despite the many nasty messages I get from the younger folk there......I just think ......currently....the UK is in big trouble......but lets hope you come out stronger on the other side
Jim doesn't get paid by a bank or institution, he works for himself...he doesn't care and gives his honest opinion...the other two are employees and will even lie to defend their companies investment strategy
Dead on right! The globe has operated in a perpetual lie for a long time. Markets are trying to adjust now, and these assholes are trying to perpetuate the fraud.
Jim Rogers (parasite) is biased and a dick and is trying to ro make money as before, in 1992 Soros's Quantum Fund (Jim Rogers lead) became famous for breaking the Bank of England, forcing it to devalue the pound. Soros had bet the entire fund in a short sale on the prediction that the British currency would drop in value a coup that netted them a profit of $1 billion In 1997, Soros was blamed for forcing sharp devaluations in Southeast Asian currencies. Just shiting on everybody else as usual
The national debt is mostly financed through the sale of government bonds, bills and gilts. These Government bonds tend to be bought by financial institutions such as investment trusts and pension funds. There is nothing wrong with national debt, as long as the money is being used to increase GDP. That way, the national debt as a percentage of GDP will decrease, which is the important number. Banks need to put credit into the system to build the economy.
The Fractional Reserve System allows Governments to OVERSPEND by using their CBs as a money source/machine. We and our children pay for this with a silent hidden tax called "inflation" .. and Govts. would have you believe that "inflation" is a necessary fact of life !
No, the fractional reserve system allows banks to lend money they don't have. The application of interest means any newly generated wealth goes to a select few, who are already mega rich. Public control and ownership of banks is the only way to get banks working to build a permanent strong economy. At the moment, they are just trying to make their City investors as much money as they can in the shortest time possible.
In 1971, we had "real metal" coinage, Guinees, Crowns, Hal-crowns etc. When he Gold standard was abandoned, the UK moved to "decimal", which was just a front to recall the "valuable metal coinage" and replace it with Aluminium junk.
The Euro has lost HALF it's buying power in 7 years already in Germany.
The whole (fiat) currency problem is in the nature of the system itself ! People are now moving paper to real assets .. which is of course no big surprise.
That young guy is obviously a Govt. puppet IMO, trying to paint a rosy picture on sand.
Jim Rogers is a parasite, good riddance to him. Nationalise all the banks, proper nationalisation, not just bailing them out, take control. Shut down the city, get rid of the rest of the parasites. Look what happens when they've milked the country for everything they can, they take the money they steal from our economy to China. The only way to get banks putting credit back into the system is to take ownership and control of them.
Exactly, small businesses go bankrupt, smaller banks fail, the general public suffer for years and the mega rich buy up assets cheap, giving them more control and power. Private companies a running the world, it's time to take the power back, globalisation doesn't work.
only way to take it back is by getting rid of the Fed, just like StamUp555 said. gov't control is worse. gov't taking it over doesnt mean you have any say. if the fed reserve didnt print money out of thin air, this wouldnt happen.
We don't have the fed in the UK, we have the Bank of England. So we get rid of the central banks, then what? Are you suggesting we instantly replace currency with commpdities? Who's going to benefit from that? The people who own the commodities of course, everyone else will be at their mercy. You know nothing about economics.
bank of england does the same thing the fed does in our country. the are privately owned bank who has full power to print money. they than lend that money to the gov't whcih we all pay back with interest. after we got off the gold standard and started using fiat currency, we've been having heavy inflation and deflation cycles. go to google vid and watch "money as debt". you'll know why this system sucks and why jim rogers is right.
Look, I don't need a YouTube education, I have a proper education. I understand economics. Pointing out problems is not offering solutions. Do you not understand that Jim Rogers supports this system? Jim Rogers made his fortune from this system. If you are not supporting nationalisation, you are supporting internationalisation, you can't have it both ways. Jim Rogers is a globalist, he is a parasite.
And the Bank of England was nationalised in 1946 you retard, that shows how much you know. In 1997, the Bank of England was given independence over monetary policy, which is moving towards private ownership (it's one thing that had to be changed before joining the euro, which is controlled by the privately run European central bank), but it's still owned by the state.
they say it was "natinalized". but they make all the decisions. your gov't has no say. your brainwashed my man, not me. stop listening to the media and do your own research.
You don't even know the difference between your and you're, so how can you be right about this? You know nothing, you sound like some conspiracy theory nutjob.
calling me a conspiracy nutjob without doing any research? nice one. believe that while they devalue the pound and destroy the standard of living in mine and your country.
Who's they? Research what? I've already explained that I understand economics, I know more than you. You've just watched a YouTube vid and think you know it all, you know nothing. You need to understand, letting banks and businesses fail so that there assets can be bought up cheaply by the big players, is a terrible thing. Let the banks fail, but take public ownership, don't punish the middle and working classes for the greed of international bankers.
With control of these banks and ownership of their still valuable assets, drive the other banks out, they will not be able to compete. Public ownership and control is the only way to change the system, what exactly is your proposed solution? I don't think you even understand what the problem is.
You are clueless. There are too many banks. As a result, banks and investment bankers were willing to take on additional risk in order to a make profit. In other words, the profit margin was shrinking due to the glut of banks.
"glut of banks"? Avoid using words you don't understand. Well done for spotting my typo, you should be proud of yourself, really.
So, you can read a newspaper, you outlined the problem that everyone already knows, what's your proposed solution? How do you get banks putting credit into the system again? How do you get them to offer fair deals? How do you make sure they make sound investments and not get into 'get rich quick' schemes?
Here's the problem with the banks. The banks don't know to value or price all asset classes because most assets are losing their value by the week. Since the banks don't know how to price certain assets, banks aren't willing to lend because the collateral being put up ,by the lendee can't cover the loan. Real estate needs to find a floor price before lending ramps up.
I assume by the 'lendee' that you mean borrower. I think you have no idea about the scale of the probelm. People are having difficulty borrowing anything, it's not just loans secured against assets. So your proposed solution is find a floor price for real estate? How do you suggest going about that? Globalisation hasn't worked, it never will work. Nationalisation is the way out.
What's floor price for these foreclosed homes? I don't know. If the banks have to sell them on the cheap or write down part of the note, so be it. In my view, let the market decide the price for these unwanted homes.
In Phonenix, Arizona, some banks were taking 50 cents on the dollar on foreclosed homes.
I'm not talking about a short term fix, I'm talking about permanent change. There is a mess that needs clearing up before things will get better. Who do you want to come out on top after it's all over? The middle and working classes who actually generate wealth, or the mega rich who swallow up any wealth created?
In the US, the entire system needs an overhaul. The originator of the loan should be forced to hold on to the note. If banks are allowed to sell the notes, they have no skin in the game.
Better oversight by SEC. Too many lawyers and not enough economists in the SEC.
The FED should be worried about all inflation not just consumer inflation. For example, the FED pumped in cheap money which blew up the real estate market. When any assets goes north too fast, the Feds should step in.
In the US, the FED regulates interest rates. I don't want the government owning anything.
On a side note, in the west and Japan, there is a demographic shift that will affect our economies. We have an aging population which will spend less money because they already own a home and two cars. Their assets have taken a big hit so they are going to save even more. The baby boomers make up a large percentage of population. The West and Japan ecnomies will be showing very slow growth.
Like I explained, the Bank of England was given independence over monetary policy in 1997 but, it is still owned by the state and answerable to parliment.
jim is a true educator to those deafs.
charliechanbkk195308 1 week ago
This is a "humorous" video. =p
jacquesgambl36 2 weeks ago
Lehmann Brothers had a AAA rating until they went bankrupt.
That's how serious these rating agencies are.
Also the biggest debt nation ever in the history of the world the US have a AAA rating while at the same time the biggest creditor nation of the earth China has a AA- rating.
nokia3210fuck 3 months ago
Short term pain vs leaving the debt to our great grandchildren
hmmmmmmm, im pretty sure our great grandchildren will say we are the generation of idiotic failures
muchookees 3 months ago
For god's sake who is this Asian clown?! The government can't save us, they make things so much bloody worse! Telling us our deficit to GDP ratio is favourable... ITS NEVER FAVOURABLE WHEN U SPEND MORE THAN YOU BRING IN!
Tracywithafacey 3 months ago
Watching this makes me feel almost ashamed to be British watching these clowns on the panel talk such bull. For god's sake put down your Keynesian instruction manual and get real. How much money spent is too much? When is debt too much debt? Such fools, and we do not need these people telling us that their economic policies are so wonderful, when in truth they are appalling flawed.
Tracywithafacey 3 months ago
I don't know what rock they pulled Choudhry out of but he has no idea what he is talking about. It's idiots like him why the world is in such a mess. Roger's know what he is talking about, Choudhry is a clown.
SpaceWalkTraveller 4 months ago
Wow these guys are mad. Roger's is on about taking the short term pain, the remedy. Not letting it drag on for decades.
lgarvey1979 4 months ago
@lgarvey1979 See video - courts afraid of us now and the lawful bank - for the proper solution
ahamatmabrahman 4 months ago
I cannot understand these clowns. They want to pay a debt what is totally artificially created? Just cut the damn bankers off and let nations issue their own money INTEREST FREE.
RAMB0IV 4 months ago
@RAMB0IV Its happening See vid - courts afraid of us now and the lawful bank -
ahamatmabrahman 4 months ago
The ratings agencies were giving AAA ratings to the junk CDOs right up until the shit hit the fan. They have NO credibility! And these two stuffed shirts that are debating Rogers... are they self made billionaires? Or Keynesian economics fanboys? God help any that listen to them and ignore Jim.
JELB1960 6 months ago
LOL jim rogers laid the smackdown at 4:00
oLoGoS 6 months ago
Rogers is right! We should NEVER `prop up` failed banks/companies. We MUST let `failure` fail. That is `free market` capitalism. "Bullshit" always fails.
terrygand 10 months ago 9
- Agreed. We need an element of 'bearing your own risk' or how else will we differentiate between the good and bad.
harperonline 9 months ago
Chowdry sounds like the typical british prick with a stick up his ass...and I like Jim's bowtie.
dannylko 11 months ago
@dannylko - hmm. Xenophobia - not required.
Drop the Xenophobia and focus on the debate, not the fact that their are two British guys commenting.
I like Jim's perspective and I am British so its not about where we were born its about the debateand Jim is right!
harperonline 9 months ago
@harperonline who says i'm xenophobic?? I'm just being a realist. There's an image that comes to mind when thinking of brits. Culture, tradition, proper, bad teeth..etc. Not to mention some of you still think you're God's gift to Earth. I'm sure you have an image of Americans in your head as well. The majority of us are indeed fat and we seem to love war too much.
dannylko 9 months ago
@dannylko - Ah, this is where you are wrong. I personally have nothing against the US or its people, and only a small percentage of the 'old school' brits think that they are gods gift to the earth. The UK failed because the empire grew too big and we ran out of money (just like what the US is doing) and you WILL go the same route.
Lets be clear, I was trying to highlight the issue - The UK's fiscal postion is a mess, the US and Europe (except Germany) is also the same.
harperonline 9 months ago
@harperonline I'm not saying all of you are like these two guys speaking but stop kidding yourself. You're truly blind if you don't think many Brits aren't uptight like these assholes. Then again if you can't see it, maybe you're afflicted with the same disease yourself.
dannylko 9 months ago
@dannylko - No I am not fortunatley for me, however you miss my point. Yes these guys have silver spoons up there sphincters, and yes they are talking nonsense, but that not because they are brits.
I am amazed that we (UK) still carry this stereotype as only 5% of our country is like this and they all live in London (and they do love things up their rear-ends).
Anyway, why are you watching vids about the UK? I guess you are American and haven't you got your own fiscal issues - Vote Ron Paul
harperonline 9 months ago
@dannylko - OK I concede. Chowdy's suit makes him fit your stereotype.... His teeth are not so bad though.
harperonline 9 months ago
@harperonline i was actually watching Jim Rogers. I don't go looking for videos with brits in them - trust me. I was probably the only one in the Western Hemisphere who did not care at all about William and Kate. Jim makes so much sense that I'm crying that his advice will never be followed. I don't know how it is in the UK, but here in the US anyone who talks sense and is actually intelligent is never followed and I mourn the state of our affairs because of that. The world is over.
dannylko 9 months ago
@dannylko - No, there were two of us ignoring the wedding. I was actually critisied by many of my peers for ignoring the wedding, but that's the result of the celebrity obessed people in my country.
As for guys like Jim never being followed, its the same here. If you speak sense and talk about Austrian economics like I do you are classed as out on the political fringe with the likes of the nationalists or Nazi's. Jim and Ron Paul are hero's in my eyes. We need a tea party over here!
harperonline 9 months ago
@dannylko - I missed the wedding on purpose and was critisised for doing so!
I think the likes of Jim and Ron Paul are hero's and I wish the rest of the US (as you influence the world economy) would listen to these guys and maybe our guys (US poodles) would follow suit for the right reason. We are fiscally ruined and the Fed and BOE refuse to turn of the debt machine. Is the Tea Party really a big a hit as it seems to the rest of the world? I wish we had something similar here...
harperonline 9 months ago
@harperonline Sarah Palin is part of the Tea Party. That is enough reason for me not to vote for any of them. Unfortunately, many people in America identify with her because she's pretty, she's a soccer mom, lots of kids, white, rich....pretty much everything republicans are. If a Tea Party candidate ever becomes president, I'm seriously moving.
dannylko 9 months ago
credit agencies work for uk usa banks so they only give bad ratings according to their own speculatyive wishes, they dont ever give bad rating to usa or uk banks or countruies or else it would go agains their interests, but in fact uk and usa are totally bankrupt and will have to default the usa own more then the whole planet produces in one year, and its growing, and the usa also and uk dont produce anything anymore but act like they are economical superpowers
badsign1980 1 year ago
@badsign1980 - Well said. How long can the US and UK inflate their respective currencies until the markets give up on them? I am concerned for my children's future and our continuing fiscal models.
harperonline 9 months ago
JIm is king ,these arrogant sliver spoon twats being interviewed have not got a clue
benjiheads 1 year ago
Hmmmmm........do you think Chowdry is protecting is own interests??? What a chowder head!
pikeasaurusrex 1 year ago
As always austrian economists beat banking economists ! LOL
electronicado86 1 year ago
@electronicado86 - Imagine if Ron Paul was commenting, he would destroy them.
harperonline 9 months ago
wat a waste of time. those idiots should just shut up and let rogers speak. moorad ur a lazy donkey , overcome ur big fat head out of ur arse. housing market in a slump? its overpriced u idiot. stop doing PR for a fail system.
88norimaki 1 year ago
Is all about confidence in the banks? So if everybody trust the banks then the banking system is not a scam? What a bunch of nonsense.
jewishcrimenetwork 1 year ago
4.20- "Were living in democracy, and the people wont allow twenty years"
That's hilarious, use the people to justify bailing out bad banks, hear that poor person, that's lost his job and if he ever gets another one will be paying tax to the people the put him out of work- they gave your tax money to the people that unempolyed you, becuse you cannot except pain for a few years.
099749 1 year ago
Funny rolls royce comment Jim Rogers really bitch slapped these two or shall i say three
Somair6469 1 year ago
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hang queen elizabeth!!
Isreal4realz 1 year ago
It's true Jim Rogers does shine as the TV star, but be warned, don't listen to someone just because they are likeable or "cool" on TV. Listen to the numbers and what makes sense, regardless of who seems more likeable.
expatguideasia 1 year ago
How much did Gordon Brown paid these clowns to support him? UK's future is not promising precisely because the british economy is losing steam with so much debt and liabilities created by govt. These guys just want to look good by opposing Jim Rogers, specially the raghead!
angelmtza 1 year ago
@angelmtza Excuse me, he's not a raghead. He's a sand nigger!
buzzin1975 1 year ago
@buzzin1975 Sorry sir, my mistake! LOL XD
angelmtza 1 year ago
@buzzin1975 Racist scum. Down you go...
jadebrush 1 year ago
@jadebrush Down I go where?
buzzin1975 1 year ago
Jim Rogers is not on a beach in Rio but he's actually traveled for many many years around the world to countries where he DOES invest. Funny how he can afford all that traveling! Meanwhile these two schmucks have just about never traveled outside of London throughout their entire lives and still earn 9 to 5 wages. HE HE HE
Rogers is from Alabama and lives in Singapore. These guys are from London and still live... in London.
0932486509 1 year ago 2
Jim Rogers kicks ass! :D
0932486509 1 year ago
Dat dub fuck cant even understand english and he"s a banking spokesman!!!!!! And you wonder why the world economy"s fucked!!!!!
bigrobnz 1 year ago 2
Conservatives are actually making cuts and trying to do the right thing, the complete opposite of the Labour scum that we had previously. I can't say the same for the US. That socialist nut Obama still thinks he can spend his way out of the recession...lol.
theguvnorjimmy 1 year ago
We're ok but we're sinking fast...
roma8071 1 year ago
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Remember the tie when George Soros cornored the Sterlings in the 90's?When this Ji m Roger belongs to that group that make that very move,So he knows what he is saying!!
111256able 1 year ago
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AAA ratings means nothing!The AIA insurance had AAA ratings !What happened to it NOW !!AIG had AAA ratings NOW? Reality is more important than AAA rating.If UK is going bankrupt sound advice is needed.Advice from employee of Aviva and employee of some remote arab bank cannot be taken seriously!!Jim Roger blunt advices sound more concrete and logical,.
111256able 1 year ago
Trying to outshine Jim Roger only make him look stupid.Naturally giving example of Japan's mistake of trying to salvage failed banks in 1990 which evidently failed miserably should be appreciated because it is a valuable pointer indeed.Naturally a banker like chaudary will not agree because such an idea does not benifit the banks(especially the incompetent ones.!!)
111256able 1 year ago
Jim Roger knows what he is talking about.He is an investors and had made big money in Investment.He was an associate of George Soros and people know who George Soros is.Jim made a powerful point when he said that the bankrupt banks should not be salvage and should be allowed to go bankruptThis Moorad chaudhry is only an employee of a bank and he is acting as if he knows something better than the Guru himself.He should not try to outshine someone who has an impeccable background as Jim Roger.
111256able 1 year ago
If he could make money he'd be on a beach in Rio. Like Jim is (more or less) on a beach in Singapore. After pointing this out himself he still believes he's qualified to go on TV to give advice about it and argue with Jim, via Jim's satelite link, from Jim's "beach in Rio" in Singapore. What an incredible man.
tommywoodfin 1 year ago
jim rogers is funny
jayangli 1 year ago
I have no idea why the bald guy would think that Jim, or any rational human being for that matter, think it is a good idea to take assets from the "good managers" and give them to the "bad managers".
muaytb1 1 year ago
Sorry but look at USA Half there country is neglected they owe more than the UK, The UK is out of recession now but USA isn't maybe the UK shouldn't pay back it's owed money most countries they borrow from owe us money too. If I'm honest USA is already bankcrupt they just can't admit it, they don't even have FREE health care.
moofasinit 1 year ago
South Asian dude laughing - he'll regret that. I see a "Jim Rogers was right" moment there.....
dskillz1 1 year ago
clearly the interview took place before QUANTITATIVE EASING..courtesy of Darling. in that case the news interview clearly would have been completely unecessary..lol
drfan2004 1 year ago
its a market. i cut your throat. i eat u. i slam u. its a market. lets fight. eat each other. common. its a market
TheAtheistworld 1 year ago
These British guys are really in denial. Alright, lets look at facts, the external debt of the UK is so high, the country is already in negative equity..yes, NEGATIVE EQUITY! It means even if you sell the entire UK- the companies, the military equipment, the pop star's properties etc etc, u STILL won't be able to pay off your increasing national debt. U STILL OWE THE WORLD MONEY. Britain please wake up.. it would be a shame to see such a lovely nation go to waste
davidkoh7 1 year ago
Im a little surprised the Pound is heading down again.....I usually get financial information far ahead of the move....but this recent move is unexpected......I wonder what is going on ?
jmallton 2 years ago
Maggie thatcher said " you cant buck the market " and this is exactly what brown n co have done but its unsustainable countrys screwed!!
darthdave666 2 years ago
uk bankrupt NEVER IN A CENTURY OF SUNDAYS
ThePusscat22 2 years ago
W hy should we pay of the bankers debt and bail the banks out then Mps exspences we must be mad let stop this shit
MyShauney 2 years ago
The music industry? In an era of illegal downloads? Hogwash.
neemz2000 2 years ago 6
I've spent my life keeping out of debt and being carefull with my money. I'm seething mad that I like everybody else in the UK will have to pay somebody elses dept for the forseable future.
rsturbo4uk 2 years ago
how he looks in 6:41 is more than clear ... even the black guy secretyl thinks GB is bancrypt
r8qt7 2 years ago
Yeah right. The British music industry will save the UK. Hey when does Amy Winehouse's new album come out? The UK needs some quick cash. Let's get Amy into the studio and out of rehab. Who the hell buys Rolls Royces these days anyways?
frankabler 2 years ago 2
Moorad Choudhry is really unintelligent isnt he?!
viktorvaldemar 2 years ago 8
@viktorvaldemar All these god dam British clowns are, and i am British, and ashamed... Look at us years on...
Tracywithafacey 3 months ago
@Tracywithafacey Nothing wrong being British, the problem is the British education system, Goldman Sachs and ignorent people in the UK brainwashed by the media. They do not save there income, they are spenders not savers and thats the problem. People infulenced by the media in this country seriously need to take responsibility, manage risk and are being childish.
yoyuepz 2 months ago
The fool with the brown skin is clueless to reality. He must be a crony to have got his job.
Puzzoozoo 2 years ago 3
the UK could save itself billions of pounds by getting rid of the gigantic sponge that northern Ireland is. 1 in 3 work in the government sector and 25% of the people of working age there are on benefits.Thousands of people in Ulster are living in hugely expensive houses all subsidised by the British tax payer.
oceallaigh2003 2 years ago
We'd save more if we got out of the even bigger sponge called the European Union.
Puzzoozoo 2 years ago
who are those two behind jim? lol. paul didn't talk enough.
asbte 2 years ago
that dude runs 90 billion?! he and rogers should have gone head to head.
asbte 2 years ago
The Paul Abberley probably gave the best answer in these two videos, even more important than that of Jim Rogers: we in the UK live in a democracy, and only when the crises is continuing for a long period of time without any signs of improvement, then Roger's tough medicine policy would realistically be pursued by politicains.
Jim's policy would be the best in the long-run, but with elections every 4/5 years who would follow them and lose political support and allow extremists to emerge?
historyboy12 2 years ago
ha ha asshole, you probably kicking your own as chara!!! the uk just got downgraded!! fuck face rogers is right!! the uk is screwed!!!
daraj123 2 years ago 3
May 21, 2009 International ratings agency Standard and Poor's on Thursday downgraded its outlook on Britain's economy to "negative" from "stable" owing to the country's "deteriorating public finances."
Uk has nothing to sell to the world except probably Pride, Rapaciousess, Nostalgia of its glorious past and most of all Hypocrisy. The last one they have a lot. The Fraudulence and Falsehood happening in US and the world today originated mostly from the BRITISH EMPIRE.
junevi2000 2 years ago 3
Choudhry checks the bark of a tree BUT does not see the forest.
edmack4me 2 years ago
As so they speak, Mr Choudhry has prepared his belonging and bought one way ticket...back to India...leaving the english peasant to wonder by their own...Lol
nicewakaka 2 years ago
hehe..
observant09 2 years ago
in the uk they never talk about that we use fiat money
they always avoid this
people are thick where do they think the money comes from and if u make more u lose your buying power
rainstormaeroponics 2 years ago 2
Take a very close look at Moorad Choudhry at 5:15 and remember the smirk on his face. Arrogant reactions like this from people like him got us into this mess. I really hope he's going to get a chance to watch this scene again.
TheForce74 2 years ago 5
He's a complete idiot, that's what. Rogers is spot on and i agree with many of his sentiments. The UK has NO EXPORT sector. It is a predominantly service-based economy and that isn't anything to hold out for. With the new tax rates coming in, i suspect many of these big banks will just move elsewhere such as Far East and set up new HQs there. Then what does this economy have left? It is a very real problem!
jazzyb88 2 years ago 5
they should have invited Jim Rogers to the G20 so he could lecture Gordon Brown and the other 19 mugs how its done!.
MagnaCarta2015 2 years ago
Why do the tax -payers have to bail out the rich banker's, when a small buisness fails the goverment let's them fail. The small buisness man rubs the dust of his shoulder and starts again.
beautifulsindhi 2 years ago
I am a muslim of mixed race origin and I just want to say that i think Jim Rogers is speaking the truth-
Where are all our factories gone? atleast before we use to produce, manafacture, our car industry? men's working clubs?
Even our farmers are ill paid. Were consuming far more then what were producing. Our welfare system just pay's the poor to stay poor. That arab guy speaks through his teeth!
beautifulsindhi 2 years ago
Moorad Chaudhry does not look Arab. i suspect he is Bangladeshi. Anyways the U.K is doomed. It's people looted by internationalist scum and politicians. How many other nations will these scum loot? How many hardworking people's lives will be destroyed?
subz4155 2 years ago
When will they understand that what is happening now is called financial genocide by bank cartel. The push for a global economy was merely a trap to take away the Sovereignty of individual countries to sustain their own economies. This global mirage was to ensnare previous economies in a domino affect which made it possible to bankrupt the whole world with one vehicle which in this case was the housing bubble of the US.
Spurgeon123 2 years ago 5
People have to see the reality of what is...and stop trying to hold on to the status quo. Its amazing how many "experts" were totally clueless about predicting this mess! I love how Jim corrected that guy! haha! If you want to know the facts, listen to Jim Rogers, Peter Schiff, Gerald Celente, and Elaine Supkis!
TruthLightSeeker 2 years ago 3
Jim Rogers slapped these other two IDIOTS down.
Dandaniels1978 3 years ago 39
@Dandaniels1978 i bet you one of the is going bankrupt soon
AntiPsychopath 1 year ago
@Dandaniels1978 paul STFU and moorad wat do arabs know about $ beside spending it. this 2 guys just show how much they like to kiss arse.
88norimaki 1 year ago
@Dandaniels1978 They get paid to be idiots There has to be a dept amnesty like they did in biblical times and re instate the Glass Steagal rules Anyway I'm sick of this theater of twerps Time we the people took matters into our own hands - See video - courts afraid of us now and thelawfulbank -
ahamatmabrahman 4 months ago
@ahamatmabrahman That's just one solution but it wont solve the real world crisis. That is the inconvenient fact that we have reached the end of growth over the last 150years. The era of cheap oil is over. We need oil and food for the economy to grow, basic physics on a finite planet. No amount of money printing will solve this crisis. Our complex modern society is starting to break down because of lack of energy. It's as simple as that. The root cause of the crisis is Peak Oil.
Dandaniels1978 4 months ago
@Dandaniels1978 we have all that we need but certain people are withholding technology eg see video - greening the dessert - Free energy has been around since Nickola Tesla but eg the man who invented the air powered car was assassinated , never the less the patents have been disclosed. See Patrick Kelly's web site The HHO engine can now be bought on e.bay The only problem we have is the greed and envy of a few freaks
ahamatmabrahman 4 months ago
i live in the uk are we are in deep trouble. shops are shutting down everywhere.
hyylo 3 years ago 4
Jim Rogers is right because he only gets paid when his is, he runs his own business and has prevailed for a very long time, and he's so busy making money that he has to do interviews via video link from countries where he puts his money where his mouth is, and makes more profit from his profit than his mouth
mlndstream 3 years ago 30
@mlndstream aye i think he does it as a community service to the world!
empressjulz 1 year ago
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@mlndstream ...yeah, and? what's the problem with that?
manoman0 6 months ago
Did that guy say they don't have to worry about losing their rating, because they can just print more?
Leadwerks 3 years ago 4
Yes he did. Jim Rogers is a self-made billionaire, and his co-panelists are just overpaid stooges.
BUT, these are the same class of idiots that are responsible for fractional reserve central banking, and since 1694, not last year alone...
Tragicomic: The naked truth and a fool.
brojiml 3 years ago 5
I'm laughing so hard, I'm tearing like I'm at a funeral! Jim Rogers is so straight to the point, and on point, it's hilarious!
picsorvideo 3 years ago 2
Wait a minute, wait a minute. Sir, sir can you listen? Can you understand English?
That is the funniest thing I have ever heard.
theworkingmansfriend 3 years ago 7
exponential growth, any biologist and mathamatician can explain it to a MORON within 2 minutes.
Global market + fractional banking + Moron Govts, and you get Value Bubbles based on exponential growth.
The markets are just reflecting the reality, while the bankers and govts are blackmailing the people to back the illusion of exponential growth through debt in a limited finite world.
How retarded can you get ........ sack and jail them all and let em go bust.
LastReplaySC 3 years ago 4
And I add AMEN! (secular meaning.)
brojiml 3 years ago
the goofy guy in the middle is such a tool
youjib 3 years ago 2
We are triple A because we can print as many sterlings as we can... HAHAHA what a fucken idiot!
hara001 3 years ago 6
when will you they face the problem?
jinjin16 3 years ago 4
The UK and other North Sea economies aren't going to sit on there hands after the oil and gas dries up.
The North Sea is one of the best places in the world to build windfarms.
Would it offset the loss in oil and gas revenues hardly, but that the North Sea would stop being a vital economic area is a bit harsh.
Batavian187 3 years ago
The UK is in big trouble in the long run. They have virtually no natural resources. For all practical purposes, they are bankrupt.
They are in a tough situation.
Jacobrester 3 years ago 4
I think you are a bit...negative on the British.
Natural resources to me, mean human beings.
They have nearly 70 million.
Many of them very smart and highly educated.
Oil is not so important for the future of Britain as Jim thinks.
He's right when he says there is nothing which can compensate for the oil revenue losses happy times with oil will end.
Something will replace it.
Batavian187 3 years ago 3
Also the North Sea is a natural resource and a very valuable one as it's one of the best places in the world to build large scale windfarms.
Again 5 or 6 North Sea economies are planning to build the worlds largest connected windfarm.
Which will make each of the countries involved energy independent and they could share energy when they need to.
Batavian187 3 years ago
I try to not to be so negative......it is just that the worlds economy is driven by oil in every aspect......I do not wish the people of the UK ill.......despite the many nasty messages I get from the younger folk there......I just think ......currently....the UK is in big trouble......but lets hope you come out stronger on the other side
Jacobrester 3 years ago 5
The UK would not be the first country to import it's oil.
Most economies are not self reliant when it come to there energy needs.
And import there oil and gas.
Batavian187 2 years ago
You are correct.....but it compounds the other economic problems the UK is experiencing. Remember, until 1999, the UK did not import oil.
Jacobrester 2 years ago
Certainly, what I find funny is the idea that our grandchildren won't ever be able to believe we used to burn oil in our gas tanks.
Instead of making stuff with it to them it will seem like a incredible waste of resources..
Batavian187 2 years ago
Better hurry up with that replacement for oil. Aah! Yes, it's DEBT.
edmack4me 2 years ago
The UK could open up it's coal mines again.
Enough coal in the various UK fields to last another 1000 years.
Most energy is still generated by coal plants. Not sustainable and filthy as hell, but not expensive.
Batavian187 2 years ago
I am viewing this video only to hear Jim Rogers' honest comments. The other two are just propaganda.
nemnaisa 3 years ago 6
Jim doesn't get paid by a bank or institution, he works for himself...he doesn't care and gives his honest opinion...the other two are employees and will even lie to defend their companies investment strategy
ednan9 3 years ago 5
Dead on right! The globe has operated in a perpetual lie for a long time. Markets are trying to adjust now, and these assholes are trying to perpetuate the fraud.
bwhite53 3 years ago 2
if they're just propaganda then they're geniuses. i think they just don't understand cause they've had false info put in to thier heads.
shitassedshitmaster 3 years ago
Jim Rogers seems to know what he is talking about?
Alucardthedeadone 3 years ago 3
Jim Rogers (parasite) is biased and a dick and is trying to ro make money as before, in 1992 Soros's Quantum Fund (Jim Rogers lead) became famous for breaking the Bank of England, forcing it to devalue the pound. Soros had bet the entire fund in a short sale on the prediction that the British currency would drop in value a coup that netted them a profit of $1 billion In 1997, Soros was blamed for forcing sharp devaluations in Southeast Asian currencies. Just shiting on everybody else as usual
Warhead3000 3 years ago
Jim Rogers will go bankrupt, his enterprises are bankrupt unless he stops whining on without evidence.
CivysCare4Soldiers2 3 years ago
Sure, but who is the biggest borrower outside the banking world ..Governments.
Where do you think Govts. get those massive State Debts frm ..... the banks of course .. at interest !
Of course , the banks themselves are the biggest producers of Debt money .... the Fractuional Reserve System has to go IMO.
Read up Ron Paul, and Griffin's The Creature !
StandUp555 3 years ago
The national debt is mostly financed through the sale of government bonds, bills and gilts. These Government bonds tend to be bought by financial institutions such as investment trusts and pension funds. There is nothing wrong with national debt, as long as the money is being used to increase GDP. That way, the national debt as a percentage of GDP will decrease, which is the important number. Banks need to put credit into the system to build the economy.
mrgav88 3 years ago
The banks investors don't care about boosting our economy in the long term, they just want to get rich fast.
Read up on economics instead of repeating peoples rants, that way you'll actually know what you are talking about.
mrgav88 3 years ago
#3
The Fractional Reserve System allows Governments to OVERSPEND by using their CBs as a money source/machine. We and our children pay for this with a silent hidden tax called "inflation" .. and Govts. would have you believe that "inflation" is a necessary fact of life !
It is NOT !
StandUp555 3 years ago 2
No, the fractional reserve system allows banks to lend money they don't have. The application of interest means any newly generated wealth goes to a select few, who are already mega rich. Public control and ownership of banks is the only way to get banks working to build a permanent strong economy. At the moment, they are just trying to make their City investors as much money as they can in the shortest time possible.
mrgav88 3 years ago
#2
In 1971, we had "real metal" coinage, Guinees, Crowns, Hal-crowns etc. When he Gold standard was abandoned, the UK moved to "decimal", which was just a front to recall the "valuable metal coinage" and replace it with Aluminium junk.
The Euro has lost HALF it's buying power in 7 years already in Germany.
StandUp555 3 years ago
#1
Jim is right , but didn't go far enough IMO.
The whole (fiat) currency problem is in the nature of the system itself ! People are now moving paper to real assets .. which is of course no big surprise.
That young guy is obviously a Govt. puppet IMO, trying to paint a rosy picture on sand.
StandUp555 3 years ago
Jim Rogers is a parasite, good riddance to him. Nationalise all the banks, proper nationalisation, not just bailing them out, take control. Shut down the city, get rid of the rest of the parasites. Look what happens when they've milked the country for everything they can, they take the money they steal from our economy to China. The only way to get banks putting credit back into the system is to take ownership and control of them.
mrgav88 3 years ago
gov't can't control anything
jubair22 3 years ago
So you'd rather let private firms run the country?
mrgav88 3 years ago
No, you let the company fail and have more competent people take over and run it.
jubair22 3 years ago
Exactly, small businesses go bankrupt, smaller banks fail, the general public suffer for years and the mega rich buy up assets cheap, giving them more control and power. Private companies a running the world, it's time to take the power back, globalisation doesn't work.
mrgav88 3 years ago
only way to take it back is by getting rid of the Fed, just like StamUp555 said. gov't control is worse. gov't taking it over doesnt mean you have any say. if the fed reserve didnt print money out of thin air, this wouldnt happen.
jubair22 3 years ago
We don't have the fed in the UK, we have the Bank of England. So we get rid of the central banks, then what? Are you suggesting we instantly replace currency with commpdities? Who's going to benefit from that? The people who own the commodities of course, everyone else will be at their mercy. You know nothing about economics.
mrgav88 3 years ago
bank of england does the same thing the fed does in our country. the are privately owned bank who has full power to print money. they than lend that money to the gov't whcih we all pay back with interest. after we got off the gold standard and started using fiat currency, we've been having heavy inflation and deflation cycles. go to google vid and watch "money as debt". you'll know why this system sucks and why jim rogers is right.
jubair22 3 years ago 2
Look, I don't need a YouTube education, I have a proper education. I understand economics. Pointing out problems is not offering solutions. Do you not understand that Jim Rogers supports this system? Jim Rogers made his fortune from this system. If you are not supporting nationalisation, you are supporting internationalisation, you can't have it both ways. Jim Rogers is a globalist, he is a parasite.
mrgav88 3 years ago
And the Bank of England was nationalised in 1946 you retard, that shows how much you know. In 1997, the Bank of England was given independence over monetary policy, which is moving towards private ownership (it's one thing that had to be changed before joining the euro, which is controlled by the privately run European central bank), but it's still owned by the state.
mrgav88 3 years ago
they say it was "natinalized". but they make all the decisions. your gov't has no say. your brainwashed my man, not me. stop listening to the media and do your own research.
jubair22 3 years ago 2
You don't even know the difference between your and you're, so how can you be right about this? You know nothing, you sound like some conspiracy theory nutjob.
mrgav88 3 years ago
calling me a conspiracy nutjob without doing any research? nice one. believe that while they devalue the pound and destroy the standard of living in mine and your country.
jubair22 3 years ago 2
Who's they? Research what? I've already explained that I understand economics, I know more than you. You've just watched a YouTube vid and think you know it all, you know nothing. You need to understand, letting banks and businesses fail so that there assets can be bought up cheaply by the big players, is a terrible thing. Let the banks fail, but take public ownership, don't punish the middle and working classes for the greed of international bankers.
mrgav88 3 years ago
With control of these banks and ownership of their still valuable assets, drive the other banks out, they will not be able to compete. Public ownership and control is the only way to change the system, what exactly is your proposed solution? I don't think you even understand what the problem is.
mrgav88 3 years ago
88,
"there assets" Isn't their assets?
You are clueless. There are too many banks. As a result, banks and investment bankers were willing to take on additional risk in order to a make profit. In other words, the profit margin was shrinking due to the glut of banks.
eatandtravel 3 years ago
"glut of banks"? Avoid using words you don't understand. Well done for spotting my typo, you should be proud of yourself, really.
So, you can read a newspaper, you outlined the problem that everyone already knows, what's your proposed solution? How do you get banks putting credit into the system again? How do you get them to offer fair deals? How do you make sure they make sound investments and not get into 'get rich quick' schemes?
mrgav88 3 years ago
How do you prevent millions from being driven into poverty? You know absolutely nothing, offer a solution.
mrgav88 3 years ago
88,
Here's the problem with the banks. The banks don't know to value or price all asset classes because most assets are losing their value by the week. Since the banks don't know how to price certain assets, banks aren't willing to lend because the collateral being put up ,by the lendee can't cover the loan. Real estate needs to find a floor price before lending ramps up.
eatandtravel 3 years ago
I assume by the 'lendee' that you mean borrower. I think you have no idea about the scale of the probelm. People are having difficulty borrowing anything, it's not just loans secured against assets. So your proposed solution is find a floor price for real estate? How do you suggest going about that? Globalisation hasn't worked, it never will work. Nationalisation is the way out.
mrgav88 3 years ago
88,
Oh, it's beyond bad.
What's floor price for these foreclosed homes? I don't know. If the banks have to sell them on the cheap or write down part of the note, so be it. In my view, let the market decide the price for these unwanted homes.
In Phonenix, Arizona, some banks were taking 50 cents on the dollar on foreclosed homes.
Pain is here even if you nationalize the banks.
eatandtravel 3 years ago
I'm not talking about a short term fix, I'm talking about permanent change. There is a mess that needs clearing up before things will get better. Who do you want to come out on top after it's all over? The middle and working classes who actually generate wealth, or the mega rich who swallow up any wealth created?
mrgav88 3 years ago
In the US, the entire system needs an overhaul. The originator of the loan should be forced to hold on to the note. If banks are allowed to sell the notes, they have no skin in the game.
Better oversight by SEC. Too many lawyers and not enough economists in the SEC.
The FED should be worried about all inflation not just consumer inflation. For example, the FED pumped in cheap money which blew up the real estate market. When any assets goes north too fast, the Feds should step in.
eatandtravel 3 years ago 2
Exactly, public ownership and control of the banks is the way to ensure that happens.
mrgav88 3 years ago
In the US, the FED regulates interest rates. I don't want the government owning anything.
On a side note, in the west and Japan, there is a demographic shift that will affect our economies. We have an aging population which will spend less money because they already own a home and two cars. Their assets have taken a big hit so they are going to save even more. The baby boomers make up a large percentage of population. The West and Japan ecnomies will be showing very slow growth.
eatandtravel 3 years ago
Why do you prefer the banks being in private hands, rather than the government?
Slow economic growth shouldn't be a problem, it's the financial services industry that makes it a problem.
mrgav88 3 years ago
the US goverment don't own the fed
Alucardthedeadone 3 years ago
You are right about the FED.
eatandtravel 3 years ago
Rothschilds
brianzsr 2 years ago
Like I explained, the Bank of England was given independence over monetary policy in 1997 but, it is still owned by the state and answerable to parliment.
mrgav88 3 years ago
Moorad is a smug git.
pieaficionado 3 years ago
Moorad is pretty arrogant.
jfungsf 3 years ago