Wow! I was really expecting to not like this guy because he created QE. But he understands what QE is and he understands the consequences and he also saw that it wasn't implemented the way he recommended. He knows what's going on. I'm going to start following Mr Richard Werner. Thank you, David. Great interview!
Professor Richard Werner is legit. Search "Prince's of the Yen" his book about the fall of Japan and the start of QE. He gives plenty of reasons to be skeptical of Central Banks 👍
He's got a really good interview on Valuetainment (PBD Podcast) it goes for about 2 hours He also got interviewed by Danielle DiMartino Booth on the same platform explaining it as well, very informative
This is one of best modern economic overviews I am aware of. Professor Werner has a wealth (no pun intended) of knowledge that should be shared world over. A must listen over and over. Thank you David for having such a distinguished guest. A+ video
Riveting interview. I remember Prof Werner from The Princes of the Yen. That documentary has a lot of gems in it. Will follow his current work really smart fellow
Professor Werner, one of the very few economist who forecasts things that actually are happening. That and the fact that he has a backbone and is courageous enough to speak out against the powerful people and stand up for us, the little guys, is the thing that makes him different and outstanding from all the other economists.
The 1% of rich people think of how to invest their money to increase their wealth during the recession. While 99% of struggling hard-luck people think of how to survive without food and daily necessities in the recession and the coming hyperinflation
I am a dividend investor for the most part but I have bought Tesla stock a couple of times. However I have bought Tesla stock again and will hold for the long haul this time.
I’m so glad I didn’t really make any big mistakes when I started my investment journey last year. So far I’ve just been sticking small amounts of money into companies I’m sure will continue to exist for the next five years and if the stocks do well, I hold on. If not, I reinvest the bad ones into the good ones so I can get higher gains. I gained about $9.5k from putting in $4k into NVIDIA earlier this year so that was pretty nice.
Great info, how can I get someone like that?…. I’m bombarded with the “don’t sit on it during the inflation, I wanted to jump in 8/22 and did nothing so far this year I think I need to get my feet wet
Working Chris Ryan Stewart, I started my first stock in Feb 21, 2022 I noticed the market went down the whole year so now I’m up a lot of money endless we go back to the October lows I will keep putting more stocks super excited for 2024 the payoff will be great 😌😌
Great interview!! Very refreshing to see someone who really knows what he is talking about, especially when it comes to China, not another "oh China is so evil totalitarian regime, don't do business with them"
China is an evil totalitarian regime. No doubt Werner is handsomely compensated by his employer for his praise of them. Belt and road is evil pure, China’s empire being built. Werner is astonishingly naive in his full support for belt and road and the Chinese regime. As if the only thing that counts is rapid economic growth.
First principles thinking also means recognizing bs contrarian views…the idea that japan,korea,china,taiwan developed because they rejected washington conseus is laughable…you can look at objective facts…the idea that imf,world bank and washington wants to keep developing country poor is something that china has been pushing to promote its own financial system..how many countries has developed due to chinese loans or projects? One can argue that countries like srilanka,pakistan and many others are objectively worse due to chinese involvement…chinese loans are opaque and often times designed to benefit chinese companies and labor.
Actually, his contrarian take that central bank interest rate move in tandem with gdp growth, not opposite is based on empirics, not principles. Its the economic mainstream that follows a theoretical principles-based thinking (though thats probably 2nd principles, not surely known first principles)
I've been a subscriber to your channel since you went on your own David. I am now a subscriber to Professor Werner. I have listened to him before and imo he is by far the best on the subject.
It wasn't just blackrock, it was the fed also wanted it just as much. Basically they want 2% inflation a year, which they were failing to get from 2008 till COVID so they're letting inflation run higher for longer to bring the "average" for the past decade or so up to 2%. ua-cam.com/video/Smdt3WlHu2Q/v-deo.html The core reason why they want 2% inflation is because it help's give some margin of error to businesses investments. If you determine that by buying $500,000 worth of equipment will pay for itself in 10 years if you can sell the widgets it makes for $5. Inflation that happens after you buy the equipment will allow you to charge more for the widgets without increasing your debt for the equipment. Whereas if the currency deflated, you're forced to charge less for the widgets which will make it harder to pay back the loan.
Im so glad more people are finding out Prof Richard Werner. Look up his empirical studies on how money is created, taken as a given now, but for a long time many theories fluctuated as to the origin of money creation.
Dr Werner is the supreme economist in the world with an unrivaled knowledge of finance, banking, government regulation and politics…but also one of the most brilliant historians of the west. His two part, two hour analysis of the Carlson/Putin interview is the penetrating analysis of western geopolitics at this moment. His only possibly rival, Zoltan Pozsar, has vanished. But he left some deeply though out papers for Credit Suisse which are imperative reading for those involved in finance or geopolitics.
Great show, David and China discussion. I remember US President Richard Nixon's visit to China in 1972 and what China and its leaders were like during the 1970s. History is very clear about this. After Nixon's visit, the West began transferring massive amounts of Western manufacturing capacity, industry, and technology to China. Within 50 years, this created hundreds of millions of jobs and hundreds of Billionaires in China (many in government). Can you imagine China today had the manufacturing, industry, and technology transfer never happened?
It's always nice to hear professor Werner. This time I have to disagree on some things he said: 1- China development wasn't only a product of its policies. Kissinger played a big role on it, addressing capital from the elites into China. And also China was used to slowdown inflation in USA in the 80s moving production chains. 2- In the last 40 years, Ireland moved from one of the poorest countries in West Europe to be the richest one without using Chinese or Japanese economic tricks. Instead they applied policies closer to international organisms. 3- The reason mainly Asian countries have developed in last 50 years is not only a fault from IMF, UN or BIS policies but cultural thinking. Western countries have been prone to implement welfare states, people think government must provide a bunch of services, rights and regulate the economy. Also political corruption is more common in Western (specially in third world countries). And last but not least, Asian countries tend to save more money than Western countries which embrace consumerism.
Excellent interview. But a few questions: The 2020 QE when Feds buying corporate bonds to create more cash in the system, more money supply should mean much lower price of monies, how come monies became so expensive on 2022 onwards? If 2022 higher interest rate is from economic growth, not inflation, does mean inflation is good, and sign of economic growth? The QE, is it free? If it’s not free, who is actually footing the bill?
Wait, this guy’s claiming CBDC is NOT a control mechanism for China? Just an innocent response to WePay and AliPay?? He lost some credibility with me. I’m thinking he may be in the bag for the CCP.
So my understanding is this guy is very impressed with himself for (supposedly) coming up with the idea of socializing the losses of everyone participating in bad loans and asset bubbles, and reflating bubbles so the holders don't see their accumulated wealth evaporate as it would in a free market, and so nobody needs to be held accountable. What a genius. Some people I respect have praised his book so I expected more, having never heard him speak before. I sort of assumed he was on my side, but he seems pretty proud of the Fed post 2008. Maybe I'm missing something, but I doubt it, I think he just sides with the bankers.
@@AYTM1200 you guys are such twerps. my comment at least had substance, whereas you've said absolutely nothing. I would listen of anyone explained why my reaction is so wrong, but... you didn't
Do you agree that an a serious economic slowdown is coming? Comment below and don't forget to subscribe! FOLLOW RICHARD WERNER: UA-cam: www.youtube.com/@UCdChVgCHytsdI3nZ3dDgQ6A Twitter (@ProfessorWerner): twitter.com/ProfessorWerner Twitter (@scientificecon): twitter.com/scientificecon Website: professorwerner.org/
I chart Stocks and Indexes as a hobby and have for a number of years. A rather unknown chart algorithm called "the Devil's Cross" has been in play since August/September and was recently confirmed again. This indicates more pain ahead in the stock market. Consider that the stock market is an input factor to the government's leading economic indicator index, so this may not bode well for the economy.
David, the conversation is so valuable to this community, it would be great to hear it again, without the loudspeaker voices in the background. Thank you!
Fascinating interview! a couple of disagreements: the Fed purchased very little corporate bonds; Absent the Huge Fiscal deficits and Helicopter money the money supply would NOT have grown that rapidly; As the professor himself noted the FED DOES NOT CREATE MONEY SUPPLY ON ITS OWN!
mr werner, you have a new fan...finally someone that actually understands what china has been doing all along is different from what the west would do...everything is actually for the people!
You aren't the sharp one do you? The evil ones are the ones who MISUSE IT INTENTIONALLY! Back then he gave a solution to the drunken ninjas to normalize the mount Fuji size shit what they created, but they didn't implement it as he said... Now the black rock fucker moneychangers and the FED cretin moneychangers - deep state puppets - figured out they can create even bigger mountains of shit with the MISUSE of it...
Are you asking why Blackrock recommended creating inflation? They hold $60b of real estate. Or are you asking why the government created inflation? They hold $33.67T of debt. Inflation helps both of these entities tremendously. At a great expense to the low to middle class income earners. "You'll own nothing and be happy."
What goes down goes up even more in the economy they are running... Even in proper depression they don't lower their living standards and they get to in future extract more money or pump the value of their holdings higher...
@@eric3434Look I am 63! You are obviously right but it goes back further than that. To me it started with Dick Chaney an Co and his connection to government supplies to the US military during the Irac war on terror that did not exist looking for WMDs. You have to look at how weak G. W. Bush was and how he justified going to war against an ideology. To me that is when the US went off the rails spending borrowed and created money on a dead end no benefit to society at all project. So it Dick and "Halliburton" before Black Rock was even born is when this nepatism got out of control.
These were the best 23min spent in my week
Wow! I was really expecting to not like this guy because he created QE. But he understands what QE is and he understands the consequences and he also saw that it wasn't implemented the way he recommended. He knows what's going on. I'm going to start following Mr Richard Werner. Thank you, David. Great interview!
Yep, he's brilliant
Professor Richard Werner is legit. Search "Prince's of the Yen" his book about the fall of Japan and the start of QE. He gives plenty of reasons to be skeptical of Central Banks 👍
He's got a really good interview on Valuetainment (PBD Podcast) it goes for about 2 hours
He also got interviewed by Danielle DiMartino Booth on the same platform explaining it as well, very informative
LOL. QE's good, it just wasnt done right. RIIIGGHHHT. Come on man. Think about what youd think about. Not a joke lolz
F him
This is one of best modern economic overviews I am aware of. Professor Werner has a wealth (no pun intended) of knowledge that should be shared world over. A must listen over and over. Thank you David for having such a distinguished guest. A+ video
F that guy. These banks are ruining our world. F his quantitative easing
Exactly F him, look at the guy that supports him
@@JesseMessagehe's certainly not on the banks side. Watch more of him.
@@curiositycloset2359 I'll pass. The system is crashing and it's the bankers fault...
@@JesseMessage Well, the man's one of the few living geniuses. Would you blame Einstein for Hiroshima, basically?
Riveting interview. I remember Prof Werner from The Princes of the Yen. That documentary has a lot of gems in it. Will follow his current work really smart fellow
This is the most important interview I’ve seen on your channel of which I am a top fan! Thanks David for all of your superior content.
This is one of the best on banking u can get ! Very insightful!
My Werner’s candor of the world bank and IMF is refreshing. Thank you Mr. Lin for having him.
Professor Werner, one of the very few economist who forecasts things that actually are happening. That and the fact that he has a backbone and is courageous enough to speak out against the powerful people and stand up for us, the little guys, is the thing that makes him different and outstanding from all the other economists.
In my opinion, Richard is the best Economist out there.
He's only describing reality, it's not rocket science.
The 1% of rich people think of how to invest their money to increase their wealth during the recession. While 99% of struggling hard-luck people think of how to survive without food and daily necessities in the recession and the coming hyperinflation
I am a dividend investor for the most part but I have bought Tesla stock a couple of times. However I have bought Tesla stock again and will hold for the long haul this time.
I’m so glad I didn’t really make any big mistakes when I started my investment journey last year. So far I’ve just been sticking small amounts of money into companies I’m sure will continue to exist for the next five years and if the stocks do well, I hold on. If not, I reinvest the bad ones into the good ones so I can get higher gains. I gained about $9.5k from putting in $4k into NVIDIA earlier this year so that was pretty nice.
Great info, how can I get someone like that?…. I’m bombarded with the “don’t sit on it during the inflation, I wanted to jump in 8/22 and did nothing so far this year I think I need to get my feet wet
Working Chris Ryan Stewart, I started my first stock in Feb 21, 2022 I noticed the market went down the whole year so now I’m up a lot of money endless we go back to the October lows I will keep putting more stocks super excited for 2024 the payoff will be great 😌😌
CHRIS RYAN STEWART
GOOGLE the name
This is one of the most informative interviews you have ever done.
Great interview!! Very refreshing to see someone who really knows what he is talking about, especially when it comes to China, not another "oh China is so evil totalitarian regime, don't do business with them"
China is an evil totalitarian regime. No doubt Werner is handsomely compensated by his employer for his praise of them. Belt and road is evil pure, China’s empire being built. Werner is astonishingly naive in his full support for belt and road and the Chinese regime. As if the only thing that counts is rapid economic growth.
But they are. Quite literally a communists dictatorship
Does he speak and write Chinese? I don't think he does
Great interview, Richard is an original thinker and he has insightful and important views to share.
More of this guy please. Listening to someone with first principles thinking and complete competency is so good.
First principles thinking also means recognizing bs contrarian views…the idea that japan,korea,china,taiwan developed because they rejected washington conseus is laughable…you can look at objective facts…the idea that imf,world bank and washington wants to keep developing country poor is something that china has been pushing to promote its own financial system..how many countries has developed due to chinese loans or projects? One can argue that countries like srilanka,pakistan and many others are objectively worse due to chinese involvement…chinese loans are opaque and often times designed to benefit chinese companies and labor.
Actually, his contrarian take that central bank interest rate move in tandem with gdp growth, not opposite is based on empirics, not principles. Its the economic mainstream that follows a theoretical principles-based thinking (though thats probably 2nd principles, not surely known first principles)
@@nikolaussoundso Exactly, Werner is describing reality, mainstream economists are stuck in theories.
Best interview on your channel yet.
David you outdid yourself today! Thank You and Professor Werner for a great session!
Best interview David. What an eye opener!
I've been a subscriber to your channel since you went on your own David. I am now a subscriber to Professor Werner.
I have listened to him before and imo he is by far the best on the subject.
Stellar interview - Werner is fantastic and brilliant. Thanks David well done.
I would say Richard Werner is the best guest you have ever interviewed, David. Very underrated!
Sir Richard Werner the only Grown up in the Room! Listen up People!
What an astonishing interview!
Q: Why did Blackrock want inflation?
It wasn't just blackrock, it was the fed also wanted it just as much. Basically they want 2% inflation a year, which they were failing to get from 2008 till COVID so they're letting inflation run higher for longer to bring the "average" for the past decade or so up to 2%.
ua-cam.com/video/Smdt3WlHu2Q/v-deo.html
The core reason why they want 2% inflation is because it help's give some margin of error to businesses investments. If you determine that by buying $500,000 worth of equipment will pay for itself in 10 years if you can sell the widgets it makes for $5. Inflation that happens after you buy the equipment will allow you to charge more for the widgets without increasing your debt for the equipment. Whereas if the currency deflated, you're forced to charge less for the widgets which will make it harder to pay back the loan.
@@uncreativename9936will they ever allow assets to deflate? I mean, will houses, from this point forward, be unaffordable forever?
Amazing interview !!!
Thanks David for the good work! 👍
Im so glad more people are finding out Prof Richard Werner.
Look up his empirical studies on how money is created, taken as a given now, but for a long time many theories fluctuated as to the origin of money creation.
It's very important that Prof. Werner's message gets out as much as possible!
One of my fav channels on this platform, thanks for sharing very insightful info. bless
Dr Werner is the supreme economist in the world with an unrivaled knowledge of finance, banking, government regulation and politics…but also one of the most brilliant historians of the west. His two part, two hour analysis of the Carlson/Putin interview is the penetrating analysis of western geopolitics at this moment.
His only possibly rival, Zoltan Pozsar, has vanished. But he left some deeply though out papers for Credit Suisse which are imperative reading for those involved in finance or geopolitics.
Fantastic Interview David! 👏👏👏. Thank you.
the blackrock inflation part is mind-blowing
Absolutely awesome guest. Get him on more often
@TheDavinLinReport this was an exceptional interview. You need to have Richard Werner on more often.
I'll check out his blogs & posts.
Great show David 👏
I always love to hear from Richard Werner.
Superb commentary by Prof. Werner. Thank you.
One of the best Economic thinker !
Great interview! Very enlightening to hear Professor Werner! 10:31
Great show, David and China discussion. I remember US President Richard Nixon's visit to China in 1972 and what China and its leaders were like during the 1970s. History is very clear about this. After Nixon's visit, the West began transferring massive amounts of Western manufacturing capacity, industry, and technology to China. Within 50 years, this created hundreds of millions of jobs and hundreds of Billionaires in China (many in government). Can you imagine China today had the manufacturing, industry, and technology transfer never happened?
Yes and Rush Limbaugh (until Donald Trump came) was all for shipping our industries to China
Correct, Kissinger helped to addressed money from American elites into China taking advantage from low wages and no labor rights.
So China will collapse now since factories are moving to India. India will go skyrocket and all thanks to the West 😂😂
It's always nice to hear professor Werner.
This time I have to disagree on some things he said:
1- China development wasn't only a product of its policies. Kissinger played a big role on it, addressing capital from the elites into China. And also China was used to slowdown inflation in USA in the 80s moving production chains.
2- In the last 40 years, Ireland moved from one of the poorest countries in West Europe to be the richest one without using Chinese or Japanese economic tricks. Instead they applied policies closer to international organisms.
3- The reason mainly Asian countries have developed in last 50 years is not only a fault from IMF, UN or BIS policies but cultural thinking. Western countries have been prone to implement welfare states, people think government must provide a bunch of services, rights and regulate the economy. Also political corruption is more common in Western (specially in third world countries). And last but not least, Asian countries tend to save more money than Western countries which embrace consumerism.
Look forward to your next peer reviewed paper in the American Economic Review. Unless you’re too busy with your new job running J P Morgan.
Excellent interview. But a few questions:
The 2020 QE when Feds buying corporate bonds to create more cash in the system, more money supply should mean much lower price of monies, how come monies became so expensive on 2022 onwards?
If 2022 higher interest rate is from economic growth, not inflation, does mean inflation is good, and sign of economic growth?
The QE, is it free? If it’s not free, who is actually footing the bill?
Richard is a fantastic communicator - I wish that I had studied with him.
I'd like to see this dude debate Peter Schiff 😊
Schiff is simply not in Werner’s league.
Schiff is a trust fund loser
Schiff is a todler, Werner is a professor.
Interesting informative interview with Professor Richard Werner. 👏👏Well done, as always, David Lin. 😍🌹
Thank you Dr Werner for expanding every governments ability to spend money they dont have
really great idea. its worked out well.
Go back from where you came please.
Wow! What a great guest. Thank you, DL!
This guy is incredible.
How is he not more widely known.
He drops truth bomb after truth bomb.
Hes very well known.
@@curiositycloset2359 maybe so, I’ve never heard of him before.
I’m not a hardcore economics nerd, but I’m decently plugged in.
Everyone in banking and finance at higher levels knows about him - but he’s ignored because his interest is not in making wealthy people wealthier.
@@sciagurrato1831 Spot on.
This is easily one of your top 3 guests and interviews.
Wait, this guy’s claiming CBDC is NOT a control mechanism for China? Just an innocent response to WePay and AliPay??
He lost some credibility with me. I’m thinking he may be in the bag for the CCP.
You misunderstood, it's an alternative for monetary operations via the Swift system.
Amazing interview. Learned so much.
Thank you, Richard and David.
One of my favourite guests. Thanks David
Hes so happy about the Recession coming in, like hes super excited to be witnessing it.
It's good for buying assets
Economies never move in a straight line.
David: Proffesor, is it true that in China pigs can fly?
Professor Werner: Absolutely!
So my understanding is this guy is very impressed with himself for (supposedly) coming up with the idea of socializing the losses of everyone participating in bad loans and asset bubbles, and reflating bubbles so the holders don't see their accumulated wealth evaporate as it would in a free market, and so nobody needs to be held accountable. What a genius. Some people I respect have praised his book so I expected more, having never heard him speak before. I sort of assumed he was on my side, but he seems pretty proud of the Fed post 2008. Maybe I'm missing something, but I doubt it, I think he just sides with the bankers.
You are missing something, yes.
This discussion is beyond your pay grade.
You are completely clueless.
@@AYTM1200 you guys are such twerps. my comment at least had substance, whereas you've said absolutely nothing. I would listen of anyone explained why my reaction is so wrong, but... you didn't
Amazing interview, so insightful 👍🏻 thank you!
Great interview 🙏🏼. Excellent choice of guests David ! As usual.
Excellent guest...Thanks David for always bringing such great information.
Best episode so far, what an interview
He’s the smartest of them all
Richard is the best economist in the world
Another fantastic interview David! Keep up all the great work.
Fascinating. Both speakers on top form.
Best interview I've watched this year
Thanks for interview!! More Knowledge = Greater ROI!!
Adding to my Data Bank 🏦
Thanks David for this really insightful guest. He touches on really in-depth macro knowledge that few people possess. Thanks again
Do you agree that an a serious economic slowdown is coming? Comment below and don't forget to subscribe!
FOLLOW RICHARD WERNER:
UA-cam: www.youtube.com/@UCdChVgCHytsdI3nZ3dDgQ6A
Twitter (@ProfessorWerner): twitter.com/ProfessorWerner
Twitter (@scientificecon): twitter.com/scientificecon
Website: professorwerner.org/
They're crashing the financial system to bring in a new one. The bankers are criminals responsible for war, terror and chemical sicknesses...
It'll be a collapse.
It will be an orchestrated cascade that will be designed to look like chaos and the architects will ride in on white horses acting like saviours
I think that trial with not backed credit is on the end .
I chart Stocks and Indexes as a hobby and have for a number of years. A rather unknown chart algorithm called "the Devil's Cross" has been in play since August/September and was recently confirmed again. This indicates more pain ahead in the stock market. Consider that the stock market is an input factor to the government's leading economic indicator index, so this may not bode well for the economy.
Great one david
Super interesting interview 🔥
David, the conversation is so valuable to this community, it would be great to hear it again, without the loudspeaker voices in the background. Thank you!
Amazing selection for a guest David , Thank You!
Thanks David to interview Richard Werner.
This guy is good. Very good. I will read and follow him. Thanks, David
Fascinating interview! a couple of disagreements: the Fed purchased very little corporate bonds; Absent the Huge Fiscal deficits and Helicopter money the money supply would NOT have grown that rapidly; As the professor himself noted the FED DOES NOT CREATE MONEY SUPPLY ON ITS OWN!
In the US that is indeed the case. Everything goes through the private banking system.
Wake up and listen to reality…Sir Richard nails it!
mr werner, you have a new fan...finally someone that actually understands what china has been doing all along is different from what the west would do...everything is actually for the people!
Including the total control and surveillance?
Nothing big was mentioned about the current real estate concerns in China.
The ubiquitous real estate bubble that has preceded just about every economic crisis, is it China's turn to be eviserated?
Yep, you are right.
Very interesting interview and valuable insights. One of the best interviews so far, especially the QE part.
And that's how you explain Macro economics beautifully 😊
Such an interesting guest, im suprised I haven't seen him on any other financial channels
Wow, nice find David, if it was you. My new favourite analyst, he is a great thinker for sure !
I wish Werner was given more attention. He speaks so lucidly about fundamental financial truths that are completely ignored by almost everyone else.
He's a danger to people in the financial system who have been riding the gravy train for half a century.
Richard Weiner is a really top class intellect and it's a joy listening to him.
Prof Werner is so good.
The father of evil
Someone should take good care of this man
You aren't the sharp one do you? The evil ones are the ones who MISUSE IT INTENTIONALLY! Back then he gave a solution to the drunken ninjas to normalize the mount Fuji size shit what they created, but they didn't implement it as he said... Now the black rock fucker moneychangers and the FED cretin moneychangers - deep state puppets - figured out they can create even bigger mountains of shit with the MISUSE of it...
I like how h tells the truth about china instead of using politics
Excellent interview, really appreciate your work
Great interview and guest David!!
A great interview! Thanks to both gentlemen.
Great interview
Thanks
Great guest!
Thank you
Good interview
Fascinating
Wise man and good interview
One of your best interviews !!
If these "people", sorry financiers are so smart then why didn't they "prevent!!!" the financial crises rather than offering a solution like QE.
Exactly. But don't point out obvious, irrifutable simple truths to people like this.
Are you asking why Blackrock recommended creating inflation? They hold $60b of real estate.
Or are you asking why the government created inflation? They hold $33.67T of debt.
Inflation helps both of these entities tremendously. At a great expense to the low to middle class income earners.
"You'll own nothing and be happy."
What goes down goes up even more in the economy they are running... Even in proper depression they don't lower their living standards and they get to in future extract more money or pump the value of their holdings higher...
@@eric3434I would "hope" the democratic financial world does not work like that, but like you stated it actually did work like that.
@@eric3434Look I am 63!
You are obviously right but it goes back further than that. To me it started with Dick Chaney an Co and his connection to government supplies to the US military during the Irac war on terror that did not exist looking for WMDs. You have to look at how weak G. W. Bush was and how he justified going to war against an ideology.
To me that is when the US went off the rails spending borrowed and created money on a dead end no benefit to society at all project. So it Dick and "Halliburton" before Black Rock was even born is when this nepatism got out of control.
Richard is a genius
Thanks guys!!
The best guest yet, would like to see Yanis Varoufakis next.
What does his forecast mean for stocks?
I feel like we lived through a huge pump and dump.