Crash Course: Chapter 5 - Growth vs. Prosperity & Chapter 6 - What is Money? by Chris Martenson

[TWSceptic]

End the fed!!!!

[stocktradinginvestor]

$ is not a FIAT currency, it's a floating exchange rate system. A currency is NOT a storage of Value, (nor is gold), but a measure of CONFIDENCE and GOLD is a HEDGE against it. Like gold, $ is a commodity that takes its place for barter. If you want to barter you say "I have 10 potatoes cut my hair" and then the barber says "I want 1 pound of rice". There IS not much exchange without MONEY. Also a gold standard is flawed because you have no free economic HEDGE against govt abusing the $ supply

[bitcoinsrule]

@stocktradinginvestor, cant a fiat currency be free floated on the exchange against other currency?(so still being a fiat currency) And for the gold isnt either-part... if gold isnt a store of value then nothing is...since it has proven itself for a couple of thousand years.

[stocktradinginvestor]

@bitcoinsrule Gold has gained and lost a lot of value based on both confidence and supply. For example, people were not very confident in what gold was near fall of Roman empire because there were many counterfeit coins cast from gold painted lead, so even when there was real gold, it did not retain it's value because of confidence. 1980 to 2000 gold lost 70% of it's value from the peak even as US government expanded money supply 3 fold.The price and value of everything changes .

[stocktradinginvestor]

@bitcoinsrule Gold can lose value. So can anything. Identifying value is what trade is about. However, I think the safest thing to do with your money in any climate to protect it from inflation is buying the things you intend to buy in the future now. Buying non perishable food in bulk for example will give you an immediate discount, protect you against food shortages, loss of value of currency and inflation, and because of the discount for buying in bulk, limited protection against deflation.

[brian12934]

Ammo is the money of the future.

[Minethis1]

Any dollar value loss that occurs via printing, is offset by the equal increase of the dollar supply printed. Net there is no Value loss. There is only a momentary lag period until the money makes its way thru the economy. Where prices rise accordingly. In Fact if there is too little money in the economy it is actually deflationary as population, efficiency and total output grows. Because there is not enough money available to reflect the increased output. Thus deflationary.

[Huttate1]

@Minethis1 But does not every dollar printed require a new dollar of debt creation; debt that incurs interest? If that is the case then each new dollar is inflationary.

[Minethis1]

@Huttate1 A very good question the answer is Yes there is new interest payments which created but it is not $1 for $1. The reserves created by the Fed are being sold at extremely low interest rates. The Fed in return is buying short term bonds with them. If and when the required target of inflation is met the Electronic Reserves created can be removed. Thus limited Inflation. In the past 4 years the US has grown it's population by almost 9 mil. Do they not need cash and credit? Think about it?

[stocktradinginvestor]

@Minethis1 The issue I have is while we always try to issue enough new debt to cover the old, is that a lot of this is issued to foreign creditors and central reserve banks in other parts of the world. 40% of the debt now goes to foreign creditors and it's growing. How do you stimulate a domestic economy that has old debt to pay with new debt if the money is going to pay off perpetually higher interest to foreigners, and if the so much of this nation's money flows OUT of this country?Stagflation

[Minethis1]

@stocktradinginvestor Let me try to give you a few different prospective. 1 Do you think this conversation didn't take place in 1930's? If I would have told them a can of coke would cost them 10 times more $1 today the would have jumped off the empire state building and sliced their throats on the way down! Why? Because they never asked what would my income be? What will the GDP be then? look at stocks that issue more shares. Often they take that money and create more value

[Minethis1]

@stocktradinginvestor Part 2 You worry about exporting little pieces of paper with our presidents faces on it which we can create all day long in exchange for limited tangible resources from other countries? The US produces 87% of everything we need. Why consume ours when we can take it from others in exchange for pieces of paper and keep our resources? Isn't that far better and smarter? Think about it.

[Minethis1]

@stocktradinginvestor Growth has to exceed debt. This is not hard for us figure out. The question is how? 1 housing will bottom. 2 population is growing steadily 9 million more Americans today than 4 years ago. Capacity utilization is in the low 60% We got a lot of room to increase production and growth. Jobs, Debt reduction can only come from consumption. as crazy as it sounds we need more Liquidity to increase velocity and start growing again.Only way to reduce debt ratio

[stocktradinginvestor]

@Minethis1 Stagflation never occurred in "theory" because in theory it was an "island economy". In reality there is a lot of exchange of capital that results in capital flowing in and out of certain areas, and sometimes back. So what happens if internationally the world is drowning in dollars, and the US is drowning in DEBT without enough cash to pay it off? Contrary to theory, we cannot borrow forever with this type of money management.

[Minethis1]

@stocktradinginvestor I am telling you right here right now. There is no economic Text book that talks about a balance sheet recession. Because it assumes that the entity is insolvent therefore it cannot exist. But this is the situation we are in worldwide today! Only way out of it is to grow, inflate and it takes Time! If we impose Austerity, Save, Pay down debt we collapse. Period end of story! There is 21 trillion of debt imbalance Globally today and need Growth. Part 2

[stocktradinginvestor]

@Minethis1 I am not claiming "medicine" is austerity, you misunderstand. I do not think a gold standard is the solution as dealing with the previous debts will be very problematic as history has shown (see the euro as well as Andew Hamilton and first central bank of the US). The ECB doesn't have an elastic money supply and that is a bigger issue that requires a lot of printing just to keep up. But this is a sovereign debt crisis, as was 1929-1930.

[stocktradinginvestor]

@stocktradinginvestor *when I said 'as was 1929-1930' I mean that the domestic economy in the US triggered instability which lead to the sovereign debt crisis which did not really hit until 1931. But the crash/panic of 29 certainly created weak conditions that left the economy vulnerable to the GLOBAL CONTAGION that further compounded the problem. I do side with many of your points, and do not advocate a 'cut and run' approach in the given conditions.

[stocktradinginvestor]

@Minethis1 The Sovereign Debt Crisis began in Austria in 1931. Then fear hits and capital floods out of where it is weak. In theory the domestic economy can be controlled internally. In real life, the whole is not the sum of it's parts. The collapse need NOT be some local event. If the catalyst can be external, that means we may NOT be able to prevent the spillover of GLOBAL CONTAGION. The bottom line – we are NOT in control of the domestic economy as economists and politicians presume.

[Minethis1]

@stocktradinginvestor Listen I disagree 100% with everything you say. A Currency is only a lubricant that has absolutely no value. It only defines value in a snap shot in time. Why a snap shot in time? Coke 1920 .10 cents income $100 Coke today $1.income $1000. The Ratio is the same .001 of income NOTHING CHANGED! People like you don't understand money. You try to make it valuable when it's not designed to be so. It's meant to be SPEND! Thats why most don't Ever make Money!

[Minethis1]

stocktradinginvestor Let me ask you. Did CM tell you that those who bought gold in the 80s are down 75% inflation adjusted even with this most recent 10 year move? Maybe in about 45 years those people will make their money back! Great store of money eh? I am telling you right here right now. THS USD will not fail. IF E does not print their ass off the EUR Will fail.Making our Currency EVEN Stronger. While our markets get crushed! as EZ is 22% of our exports. Printing = confidence!

[stocktradinginvestor]

@Minethis1 gold was also $162 in 1869 and only $35 in the 1960s! And Rome fell using Gold! When did you ever see me telling people to buy gold? Are you mentally ill? The Euro Will Fail, which will make our currency stronger, yes, for the time being, no doubt that's very possible if not likely. Who the hell are you arguing against?

[stocktradinginvestor]

@Minethis1 lol, either you aren't reading what I am saying, or you are replying to the wrong person. I don't know how you can disagree 100% when I agree with more than half of what you say. Gold is not a store of value, you say. I never said differently. You seem to think printing is better than austerity. I never said differently! I said I agree with many of your points. Apparently you disagree my agreement of you and disagree with yourself!

[stocktradinginvestor]

@Minethis1 I am the one that said gold is not a storage of value and now you are repeating it in the same sentence you say you disagree with me? Of course it's meant to spend, hence a "medium of exchange" like I said earlier. If you just want to argue like a retard against someone who agrees with you go to Occupy Wallstreet with the rest of the vagrants who defecate on cop cars and fornicate in public.

[Minethis1]

@stocktradinginvestor LOL! I am sorry I am arguing with everyone and their mom! I am loosing it Apologies you have a similar name with some tool! I don't know what I am disagreeing with you on. SIgh! I reread everything you wrote. Gold is not a storage of money Austerity, doesn't work, When the Markets take a shit I think the EZ will Print their ass off. Yes our economy is not an Island correct we will be hurt if EZ goes. But less than anyone else IMO. Again sorry dude

[anonymous36594]

thumbs up if you searched for ''crash'' and clicked on the first vid.

[cloudburstlenepmhq]

Free energy technology exists!But the Oil companies want these technologies unknown to the masses,Find a motor that needs no fuel or input at LT-MAGNET-MOTORdotCOM ,Let the revolution begin!

[bugsz1]

Oops..too late.

[pingadomulatinha]

bastards! crooks! federal reserve notes are MEANT to be worhtless over a period of time. the criminal financial syndicate called Fed invented this aberrant system of currency and guess what - U.S. government never said a thing - like a good puppet regime it is.

GOLD and SILVER are the only source of real money that is immune to the fiat disease. so beat them at their own game, buy and hold as much as gold as you can. i suggest you to check out MAX KEISER report here on youtube!

[craigelliottmusic]

Thanks for this great information Chris!

[Phantom1287]

How is he a crook if this information is available for FREE on youtube? So he charges for seminars... wow, lord forbid he makes a living. You say he has no idea what he's talking about... provide just ONE example to support this claim. It's really easy to slander someone over the internet.... not quite so easy to explain why he's wrong.

[IOIOIOIOIOIOIOIOIOIO]

@Phantom1287 Relax, like CM says at beggining of the video, these ideas are initially ridiculed. There's a great psychological incentive for many people to be in denial.

[Piscivorus]

For the last hundred years our fed, state, and local govs have deliberately supported a monopolistic economy in order to force individuals and families out of business and into jobs where we are powerless to control our incomes or our taxes to keep them in check. This is the real reason for the bailouts. They don't care about us, they want us all in jobs so they can regulate our incomes and keep us in check. Chris has managed to employ himself anyway but here you are telling him to "Get a job".

[bobbygnosis]

I don't see any refutations on your part, so since this guy's dealing in information and you're dealing in name calling I think I'll stick to this guy for information and only go to you when I want to hear name calling.

Cheers to peace, understanding and wisdom.

[exposingcrooks2009]

You are naive. Youmust be a kid or else your IQ is below 100. I dont have time to explain the motives of a criminal mind. Research it yourself. He charges money for seminars $400. Its caled building your brand by giving shit away for free then charging by gettin an audience. You are a fool. Wake up kid.

[bobbygnosis]

I'll have you know that not only am I naive and severely autistic I also can't read or spell. As a point of fact this is a random touching of keys that I hope makes words and sentences.

I'll do my best to wake up. Well, maybe not. Since I'm naive, severly autistic and illiterate I suppose you can't wake me up. I'd like you to waste more time on me by calling me more interesting names. What else ya got?

Are you going to help or just sling mud?

Piece, luv and umderstamding (sp?).

[xXU2BerXx]

What makes it criminal to receive compensation for ones knowledge and labor??? You obviously have a very distorted sense of value and self-worth if you don't even understand this most basic of principals...

[exposingcrooks2009]

You are a damn fool. You do not see how he is fooling you with marketing. I've researched this clown YOU HAVEN'T. He actually charges $400 to give seminars on this crap. HE IS TRYING TO BUILD HIS BRAND NAME SO HE CAN SELL HIS TRASH. HE HAS EVEN GOTTEN PEOPLE TO CREARE ADVERTISEMENTS FOR HIM ON WIKIPEDIA. anyone who does not see this clown's tactics is either STUPID or else has not investigated his actions. FYI, none of this crap helps u make money. Stick to experts who warned u of collapse

[RichardRoy2]

So far, I'm seeing sound ideas that I hope many people will take note of. I've seen the definition of money as a common medium of exchange, though, and am having trouble with the idea of it as a claim ot labour. Yet, I can see it. As Ludwig Von Mises says there is a historical component to the objective exchange value of money, and I often see this as a means of relating it's value to the time it takes for you to earn a corresponding equivalency in value to the sustenance of your life.

[Chromatype]

I think all of you need to realize something. Chris is selling month subscriptions for $30.00. If he scares 500,000 people into wanting to "support his cause"...he will generate 15 million dollars for himself.

That is way more that any one needs to take care of website server costs. This guy is out to make a LOT OF MONEY REAL FAST.

[JacobusWadsworth]

Got something against entrepreneurship?

If all you gotta do to make 15 million is produce a couple philosophical powerpoint presentations on youtube, then wow, our cash problems are over.

[amandayip69]

"support his cause' !!! Chris is giving this Crash Course away for free to anyone and you can replicate it wherever you like. His information explains the truth about our rotten world economy and why we are so debt-laden. Sounds like you need to look a little deeper...

[mdongmin20]

This does help explain the whole, "consumer economy" situation we're in. This is crash course is a blessing...

[pookiecatblue]

inflationary money system...yep, we sure have that here in the good ol' usa!

[yetzoz]

ludwig von mises defines money as common medium of exchange, i can't wait to see how you justify your claim that money is a claim for human labor... hope that's on the next videos.

[GULRUDJ]

You are refering to Misis's definition of currency. He defines money as a universal accepted, divisable but basically undestroyable medium of exchange with intrinsic value.

I also find it amusing that you are ridiculing power points.

[yetzoz]

no, actually i'm referring to mises's definition of money (from "theory of money and credit") which is common medium of exchange. money has no intrinsic value. i didn't quite understand what you meant by power points, but to alleviate any mis-understandings - i really really enjoyed this course and learned alot!

[caseyforever]

how is this any different from what he said in truth?!?!?

[yetzoz]

i think that money as a claim on human labor is a special case of the use of money. as human labor is just one form of means of production i think that the defintion isn't general enough.

but this is just some theoretical corner, by no means should you be discouraged to continue, i think that the 3+ hours i spent on watching this was VERY well invested.

[caseyforever]

you're probably right. exactly how to define these things (assuming they can be defined) has been something i've been looking at. this whole subject and how it relates to EVERYTHING is something i've been looking at hahahah. yikes.

yeah. so far this crash course is really good. have you seen "Money as Debt"? it talks about many of the same things but i think the crash course covers more aspects. best wishes!

[dct1960]

Great videos...very well explained...Thanks for posting.