Banking 18: Big Picture Discussion

Pros and Cons of various banking systems. More on gold.

Category:

Education

Tags:

• gold
• money
• banking
• fractional
• reserve

[TheHiddenMatrix]

"The Big Picture" is that the global monetary system is fraudulent and designed to enslave humanity by way of usury.

It's passed due for Banking Video #19: End Game!

[dzikv01]

The author seems a reasonable person. This is really nice series explaining how money is actually created. I disagree with his opinions though. This system is flawed in two ways now in my opinion. First it puts allot of power into the hands of a few very bad people(the government). Second it puts people as a collateral as a back up for money value which is basicly slavery. When your country is going into debt it is basicly selling your and our children's time... Which is slavery.

[freedomthistime2011]

Re Full Reserve: "Maybe there will be less booms and busts, maybe these bubbles won't form. I'm not so sure about that..." @12:24

Michael Reiss has a very good article on the exact monetary mechanism by which a fractional reserve system produces asset inflation bubbles, financial crises, boom and bust etc etc (and why these would be far less prevalent under Full Reserve) on Positive Money UK's blog. Google "How Fractional Reserve Banking Leads to Booms and Busts" if you want to read it.

[Carebearbull]

@krug24 People always wake up for radical ideas in times of low conjuncture, not neccesarly wise ideas.

[TallFastLoud]

@limey36

I should say, also agree that the Fed's insulation from any political pressure, crony capitalism and free trade hypocrisy are bad. I'm not sure why those policies strike you as 'socialist', though -- who exactly do you think benefits from corporatism -- wage laborers??

[TallFastLoud]

@limey36

a) the idea that Obama is a socialist is laughable

b) you have confused deflation (a fall in the price level) with falling prices -- in the former, your wage goes down, too, not just the price of things. deflation does not increase real wages. in fact...

c) deflation makes loans harder to pay back -- last time I checked, the debtor class was the lower-income group. so deflation really decreases real wages for anyone who has to borrow money.

[CSRealist]

@Sconz32 I second the motion!



[koriko88]

@limey36 None of that has anything to do with the subjects discussed in the video.

[Zander101084]

@Sconz32 go to the website and scrole down to Finance

[limey36]

Situations in the 80s and now are very different.

We do not have national debt off the chart , 700B stimulus, 60T unfunded liabilities, a socialist president, a reckless Federal Reserve, crony capitalism (Tim Geithner's plan, Jeff Immelt the biggest donor to Obama as his economic adviser who lectured us not to whine about govt and turn around to move the XRay plant to China), QE I, QU II, Greek and PIGGS countries on the brink of default...

Sal, you should know better!

[limey36]

@inityminiwur Don't listen to Paul Samuelson. He is a clown. What is so bad about deflation? Don't you love it when your iphone or ipad or car or house fall in prices? Would you really wait forever to buy a flat-screen TV; or would you not buy a car because you know that the moment you drive your car (new) out of the parking lot, you last 1/3 of your $? Remember, when prices of things like laptop and TV fall, the lower-income group is the real beneficiaries. Rich people don't care about prices.