Tonight With Vincent Browne 18.04.2012

Vincent Browne Talking to Steve Keen of which is a professor in economics and finance at the University of Western Sydney. Steve was one of the few economists in the world to predict the financial crisis we are in now.

His view on Irelands situation are as follows in this clip.

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  News & Politics

[Viedoklislv]

Well it's all about trust. If you back your money by gold than of course there are trust and value for it and so you will be able to trade with other currencies. IF you back your money by oil as it is for USD than again - everyone needs oil and it can be bought only by USD - so it's safe there. If anyone starts to use other currency for OIL trade than that country will be "democratized" - riots & "freedom fighters" will show up & in result you will be invaded by NATO / US.

[MrFrostedtips]

"Ponzi schemes CAN collapse" the quality of Irish economists there...

[pretorious700]

Actually, the faux Keynesian nonsense predominant in government policy around the world is doing a perfectly fine job of that already.

[Crashbanksbuysilver]

You really need to stop reading the Mises stuff, what you want would destroy the lives of people around the world.

[WarzSchoolchild]

STEVE KEEN: Level of assets have got three letters at the front ASS. I think we should take them importantly. Assets can collapse in value overnight, as we’ve seen today, you’re liabilities remain there, and it’s liabilities that are driving this debt crisis.

They’ve got totally out of hand, but when you have it going from 45 per cent of GDP to 300 per cent that is a runaway exponential growth process that can’t be sustained. And when it broke that’s what caused the financial crisis.

[MysticPotato68]

Awesome, hits the nail on the head!

[mphello]

= Print money and give it to the people - not the banksters.=

Yes! Somebody gets it! :)

[MrDolanova]

VENKY'S OUT

[cyrusp100]

Professor Keen is against bank bailouts - that just makes the 1% richer.

He's also against debt-deflationist - that makes the 1% richer too. It allows them to confiscate real wealth which they funded by creating money out of thin air.

Print money and give it to the people - not the banksters. That will transfer debt-based (interest yielding) money that the banks created out of nothing with government printed money (also created out of nothing).