Just Banking Presentation Edinburgh 2012

There are two myths in banking: that bank debt can't be repaid, and that banks don't have any significant impact on macroeconomics. The former is held by many in the public, the latter is believed by the the dominant deluded school of economics, Neoclassicism--as Paul Krugman confirmed recently in his blog brawl with me. This presentation debunks both myths, using logic, dynamic modelling, and empirical data.

A warning: I was given only 20 minutes for this presentation so I went even faster than I normally do!

• Category

  News & Politics

[DavidByrne85]

This video has really brought the whack jobs out in full force

[MolaMestra]

Google 'Introduction to Mathematically Perfected Economy'.

Banks merelly intervene upon our affairs and claim all money to them for the mere privilege of publishing our promissory obligations to each other. These 'usurers' or 'moneychangers' are screwing the world, and MPE proves why interest is UNWARRANTED and the cause of our problems. How can anyone approve what is proven to be plain robbery? Banks have allways been the cancer of this planet, an imposed ruse that has been unveiled by MPE. :)

[MolaMestra]

No worries...

Keiser and Keen wouldn't dare to debate Mike Montagne (original author of MPE) though. He's the man with the theorem and full account of our problems, simple maths (second grade) and uncontestable principles, to get our heads around.

If you can get these men, or similar to schedulle a debate with PFMPE, preferably Mike, it would be awesome... But they would probably evade it.

Cheers!

[Jesus Saves]

Thank you very much for the reply.  I'll enjoy reading about it. I ran looked a couple more videos, one with Max Kaiser and Keen.

[MolaMestra]

I'm sorry, but unless you or your 'moneychanger' prove banks actually give up lawful consideration of value, equal or commensurable to the debts they claim for themselves, you or Mr. Keen are advocating exploitation, because if you guys cannot provide this urgent proof, you are calling falsified debts to mere publishers of our promissory obligations to each other loans. And this is the crime of all crimes. If you do care about the name you carry, you should learn the TRUTH, not half-truths: MPE.

[Jesus Saves]

I'm just starting to study Keen.  Do you know how he deals with an expanding money supply caused by loans demanding interest?

[BarringtonDailey]

How convenient that you forgot? to include for the fact that not all interest is spent back into the economy, but is used as the basis *for further leveraged loans*, the interest of which is used for even more leveraged loans. Re-run the model to see what happens.....

[cyborganic99]

Did he not explain how incomes exceed loans by a factor of three?

Every dollar that is borrowed is spent, on average, three times before it goes back to the bank.

[xzjatx]

Interesting, wish I could comprehend the math... one of these days

[CarlosMontoya169]

Wow so many claims by youtubers who most certainly know better...