What's your thoughts on this? BTW, be prepared be wowed for the things that you don't know and it is 30 minute long but worth it for me
Can't believe I watched the whole thing, bleh, economy. It's not that the people are clueless about the faults on economy, most have a faint suspicion on it and just can't explain it. Although the video tried to simplify it, the whole thing is just purposely complex. Now I'm not from America, but it kinda sucks to think that this is what the forefathers tried to avoid when creating the constitution.
Checked through parts of it but a lot of it is simply flat out wrong or skewed to seem like a scam. Banks aren't some big bad wolf making our economy go bad unless they start issuing loans too easily. These kind of documentaries just rely on shock factor to cover the flaws in their arguments. The only problem with the current system if there is no growth globally and before that happens its quite likely we can solve the issue. Lets take the debt ceiling for example the reason it exists is so the debt can't go higher than the amount of interest the country can pay so a lot of these issues are mentioned like they have no value and so on but its just commoners economy. Economy is flawed but it isn't some kind of massive scheme that has no logic.
I am not sure but the bank thing about how money multiplies is definitely legit though which causes a lot of things
Yes it is and we call it interest in normal economy so its not really doubling its increasing by 2% per year as pretty close to truth number. Money also disappears but we add more than disappears which is why things get more expensive over time. This is why we need growth for the economical system to work but as of now there really isn't that much trouble in the coming 50years for this particular issue so its kinda pointless to argue this problem for now. The thing with banks is they can borrow more money than they have which really doesn't come in here but that doesn't increase the amount of money it just means the bank can't instantly get the money if every single customer wanted their money. Banks usually work with the 1:10 ratio of actual money compared to borrowed but banks can't borrow out more than their total assets which is why this gets quite misleading.
Interesting I think when the system will colapce they will be war and after it the system will continue
It is becoming of a problem with the rate of money multiplying which causes more money flowing in the market vs with the scarced resources that we have
Yes and no as resources isn't the only way to create growth, service industries require none to minimal resources and creates new markets. The current situation in the world is moving towards everyone in the service industry.
It's actually only simple economic theory, presented in biased view. That he consider bank lending money as scam/ stealing is just ridiculous. What do you think bank's function is? Bank exist to channel money from those with surplus (in form of deposit) to those who are in need (lender, credit card, dkk). The interest income gained from lending money is then used to pay depositor's interest rate. The rest is used to further investment, ensuring the bank continuous service and lower bankruptcy risk. Inflation and the increase in money flow is something normal. There's an additional value for every thing that we create. A society without inflation is a dead society. Currency is not useless. Maou Maoyuu Yuusha has a chapter that explain about the function and need for currency. (too lazy to write more) While the video claim that they are revealing a big scam, the video itself is basically another scam.
Oops. I meant with more money the scarcity value of money will drop and inflation happens but shits happen and the cycle can't be broken that easily
Well wether true or not, What can we actually do about it? May be that I will start to stock up on gold and silver bars in my basement! XD
Well.. we can find fault with this guys presentation and pretend it is fake and forget about it or we can argue that this is all normal and it doesn't really matter at all and sleep soundly at night. But the fact is the debt is probably true and realize what it means when it finally hits us in the face.
The problem is he is partially right about what happens when debt gets too high but(non of the examples had too high debt just change of currency) China worked that out fine when they switched currency and so did a lot of EU countries collapse of dollar would be pretty bad but it wouldn't doom humanity. The problem is he skewed a lot of economic info but for now there is no proof that debt can't reach infinity thought it most likely can't. I already said it before economics is flawed as its based on constant growth to offset inflation so as long as that doesn't change this whole documentary doesn't mean anything. 1year of decline doesn't mean much, a lot of economies still haven't recovered from 2009 but we are still fine for now but the largest problem in economics is people saving. Saving money is bad for the economy which is why recession is not good(recession usually happens cause of ppl saving money).
one's that I know We don't need bank!! We don't need someone channel our money... We just need someone keeps our money safe... And we pay bank for it, they lied if they said they gives you an benefit that called Interest... One that I know is they use your...OUR money as capital to gain more money... Banking Is Biggest scam, but stock exchange is worst scam..