Thank you for helping me understand the destructive nature of default swaps. You gave me another weapon to use against the financially illiterate who support the current economic system. The people who hear the word "growth" in reference to the economy and immediately conjure images of a prosperous well managed nation. The people who think billionaires with "business experience" are outsiders and worthy of their vote.
This interview is AMAZING. Also, it gives the best explanation of Credit Default Swaps I've heard. If everyone here just asked some person they know who only listens to MSM to listen to just one Independent media interview this one is the one.
When VP Kamala was "Top Cop" of California, she could have went after Mnuchin for his crimes. She didn't. Then he started donating to her campaigns. This fleecing of American taxpayers was and still is a bi-partisan effort. Even state attorneys want in on it (28:00 mark). How naive we have been.
speaking of buybacks: how come co's have excess money? ON the one hand there's no competition, on the other there's no growth and no investment required. "FREE MARKETS" would dictate that if there's no growth, the revenues should come down! the game is RIGGED. Free money for the rich. FUrther: buybacks are needed in MORE VOLUME to give the same "kick" given lowered tax rates; combine this with higher interest rates. But Andrew Fastow saw no jail time, so shhhhh......
The problem is that people keep buying, even when they can’t afford it, supported by cheap lending done without owning the consequences of risk. When the debt bubble bursts, nothing is going to save the world this time.
The US has approved "bail-in" legislation: this allows first recourse to a failing banks own depositors and shareholders before taxpayers are required to pay. Other G-20 countries, including Canada, have also approved "bail-in" legislations, pursuant to the G-20 Brisbane meeting. This means that there would not be a need for a bail-out, at first.
In the US, deposits over $250,000 would be taken first. The FDIC , in theory, covers the first $250,000. I believe in Europe, the limit is 100,000 euros.
#BTC will eventually drop to $13481, maybe a little more. Then there will be a huge uptrend. #defiwarrior will launch #themera mainnet later this month #crypto
Will Johnson low wages mostly indicate low productivity, but generally also is correlated with youth. The statistics point that out fairly well in the minimum wage statistics, where you have a significant portion of people under the age of 25. There’s nothing wrong with that as long as it’s transitory. If politically you want to increase wages do so through a negative income tax (earned income credit), as you will not hurt unemployment as significantly as increasing artificially someone’s wage through a wage increase. Also part time work stats pick up for those who work under a certain amount of hours.
Then you would be wrong too. Actual 26% unemployment. I combed through the BLS data to know. Why do so many people act so stupid to regurgitate the government lies?
The wages could be fixed and not low. It's relative. We really need the cost of living to go lower. We could have been stuck at $1 per hour and have prosperity so long as the cost of living is disproportionately lower. Those calling for a $15 minimum wage do not know what they are talking about - it would spread inflation and hurt those on fixed income, does nothing about keeping the wealthy from raising rents further. I address the underlying problems. Our politicians are unable to do so and apparently most outside of politics cannot do it.
I live in Puerto Rico because of the mess in America! I live a minimalist life now! I spend only the money i have , no credit for me!!! Bought a house for 20,000 to fix up.
Q..If bank fails how do people who have deposited money in that bank ,have credit cards from that bank buy food? Q...How long does it take for a moneyless society to collapse Q...Was 2008 caused by bad debt, $145 barrel oil or oil supply unable to meet demand
The bailout, or the credit jubilee as Max Keiser calls it, was paid by tax payers all over the world. The badly secured subprime loans were dumped on Greece and European banks. The oligarchs/creditors want to enslave humanity through debt - what Jesus spoke out about in his first sermon, according to Michael Hudson. With a clean slate you don't get a "financial breakdown" for anyone else other than the oligarchs/creditors, and they can live with that like anyone else. A "financial breakdown" is impossible anyway with QE (quantitative easing or money printing). What is being called a "financial breakdown" here is a description of how the loan markets may disappear for those who are lending out (nonexistent) money, earning money on fraud, actually. (Timothy Geithner is obviously a fraudster, wanting to "fortify" the creditor interests' victory over the debtor interests, having come about at the time of Jesus.) We understand that the oligarchs/creditors want to "fortify" their postion. A debt Jubilee was what led to the German economic miracle, according to Michael Hudson, and he is of course right about that. This is how ordinary bankruptcies are being handled. (The Great Depression was staged by the Rothschild banking system.) The creditor interests lead to bankrupting society and pushing it into serfdom.
interesting study of modern economics. money is a quantitative measurement of qualitative values. there is a white noise or diffusion of energy not accurately quantified.
The most basic flaw with thinking is assuming that "capitalism" and "socialism" actually exist. IT is a mishmash of these tendencies and outlooks that actually exists. The public remains uninvolved and ignorant because they are not presented better information. Seems unavoidable that we just keep going from crisis to dysfunction to crisis.
A flat line on a heart monitor is stable. That's socialism. I strongly disagree with the notion that any socialist has the economic big picture in mind. They make no bones about the fact that their campaigns are propelled by social issues and a blatant discontent for anything resembling economic strength. I'm no fan of Trump but at the very least, people are talking about the notion of improving the infrastructure and strengthening national defense. Roads need to be paved. Houses need to be built. Borders must be enforced. Taxing the hell out of everybody just lowers the bottom line. Economists do themselves and the rest of us no favors by regurgitating the facts of life - the banks run the show. The fact is, the economic crashes that have happened or will happened, they are manufactured, and regardless of who is in office and what their agenda is, the banks run the show. That's the end of the discussion. I don't understand why economists get in a twist about theories and predictions, massive manipulation is obviously a feature, not a bug. Blaming every damn think on Trump won't stop another crash. If anything it will just expedite the reaction and bitter discontent and who will be the one to step up and pull people together and give them shelter and console them for their hardship and misery? The state, acting on behalf of the bank. But what the hell do I know, I've only been throwing money away for taxes my whole life and seen it gone to nothing. Some semblance of cohesion on the national front is at least distraction from the fact that this whole thing is on life support anyway. The state is the hitman for the bank. The end.
Exactly. They use scare tactics to make people go buy precious metals. Even if a meltdown occurred and gold went up to $20,000 an ounce, you still wouldn't be able to sell it because who would be able to buy it???
Bail out was funded by Government, not tax payers. Uncontrolled debt insurance will continue to create moral hazard. All it needs is that if something behaves as insurance then it is insurance.
This is fiscal and monetary policy theory... When a government issues bonds, commercial banks and central bank create money to buy them as 'safe' assets that are quite liquid and used to mitigate reserve requirements. As long as the government does not exceed the carrying capacity of the economy then there is little problem. Governments continually turn over bonds thus creating and destroying money continually. Government are not like households, like the central bank and commercial banks, make and destroy money. www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy
Not to say republicans are much better but to act like the socialist democrats are better on fiscal responsibility is laughable. This conversation and channel could go much deeper but y’all like central banks. Y’all think economies can be “managed.” Y’all think politicians know how to regulate people’s lives better than themselves. I don’t really see what’s so “new” about that.
x x right. Tell me how the military industrial complex, with all its agencies and order followers isn’t a massive welfare system? “No Max! That’s not “real” socialism!” Tell me how the Federal Reserve isn’t socialistic!!? Just because you want to be technical doesn’t mean that socialism has ever represented anything good. Likewise your petty problem with technicalities doesn’t do anything to address or start to change the real problems in our modern society.
If mortgage loans were allowed to be written off during bankruptcy, everyone WHO DID NOT DESERVE A LOAN in the first place SUDDENLY GOT RICH. That would be rewarding those, who did not deserve the loan in the first place. What is this logic? Just take on loans and bet the bank goes bust.
In other words its a rigged system.
It has always been a "rigged system."
Thank you for helping me understand the destructive nature of default swaps. You gave me another weapon to use against the financially illiterate who support the current economic system. The people who hear the word "growth" in reference to the economy and immediately conjure images of a prosperous well managed nation. The people who think billionaires with "business experience" are outsiders and worthy of their vote.
I wonder if naked credit default swaps have been taken out against corporate debt in places like Turkey and Argentina....
How prescient.
I feel so patriotic and privileged to know that I will help the Banks and Wall St out, when they come crying for bail out money.
Don't you....?
the only time the american dream seems real is when im sleeping.
I had sex in my sleep.
It's called a "wet dream."
You are in good company - About 170 million hard working USA citizens has the exact same problem.
'' They call it the American Dream.... because you gotta be asleep, to believe it! '' - George Carlin
" the banks own this place".
I'm stocking up on beer and hot dogs. If the end comes, the whole neighborhood is coming to my house.
@TheCanMan Can Since 1990 Yeah, but it's still not as nice as yours huh?
@@Musical_Rabbit Paid off. FAST.
@TheCanMan Can Since 1990 He's my brother, he should.
This interview is AMAZING.
Also, it gives the best explanation of Credit Default Swaps I've heard.
If everyone here just asked some person they know who only listens to MSM to listen to just one Independent media interview this one is the one.
Bail-in = your deposit.
The Whole System, is Disgusting,, it turns my stomach, even thinking about it, But a good Video
This discussion is gold.
Yup, better go get some.
Obama-voice is a good interviewer.
I THOUGHT THAT WAS RAY DALIO IN THE THUMBNAIL LOL
Listen to this in 2022. With the raising rate, we might actually see this play out for real.
And so it did.
And this time let's do a referendum on it like Iceland did
In sum, an insurance policy requires the purchaser to own the risk, while a CDS does not.
Ben Bernanke gave ample warning of 2007 and 2008, in his many speeches.
This aged very well.
Amen!!!!
When VP Kamala was "Top Cop" of California, she could have went after Mnuchin for his crimes. She didn't. Then he started donating to her campaigns. This fleecing of American taxpayers was and still is a bi-partisan effort. Even state attorneys want in on it (28:00 mark). How naive we have been.
Even more so now, Jerome Powell said no banks too big to fail anymore, but here we are backstopping (giving a bailout) once again.
speaking of buybacks: how come co's have excess money? ON the one hand there's no competition, on the other there's no growth and no investment required. "FREE MARKETS" would dictate that if there's no growth, the revenues should come down! the game is RIGGED. Free money for the rich. FUrther: buybacks are needed in MORE VOLUME to give the same "kick" given lowered tax rates; combine this with higher interest rates. But Andrew Fastow saw no jail time, so shhhhh......
The problem is that people keep buying, even when they can’t afford it, supported by cheap lending done without owning the consequences of risk. When the debt bubble bursts, nothing is going to save the world this time.
Anything could be coming, anytime.
you don't say...
I think the courts should be kept out of restructuring if at all possible. The courts in some cases destroy wealth and confidence.
The US has approved "bail-in" legislation: this allows first recourse to a failing banks own depositors and shareholders before taxpayers are required to pay. Other G-20 countries, including Canada, have also approved "bail-in" legislations, pursuant to the G-20 Brisbane meeting. This means that there would not be a need for a bail-out, at first.
In the US, deposits over $250,000 would be taken first. The FDIC , in theory, covers the first $250,000. I believe in Europe, the limit is 100,000 euros.
Leviticus 25:8-13, year of jubilee. Only way to start all over again
#BTC will eventually drop to $13481, maybe a little more. Then there will be a huge uptrend. #defiwarrior will launch #themera mainnet later this month #crypto
We have low unemployment but also a lot of low wage jobs too
Will Johnson low wages mostly indicate low productivity, but generally also is correlated with youth. The statistics point that out fairly well in the minimum wage statistics, where you have a significant portion of people under the age of 25. There’s nothing wrong with that as long as it’s transitory. If politically you want to increase wages do so through a negative income tax (earned income credit), as you will not hurt unemployment as significantly as increasing artificially someone’s wage through a wage increase. Also part time work stats pick up for those who work under a certain amount of hours.
No...we have high unemployment and low wages...
How is 26% unemployment low? I wish people knew what they were talking about else we have a populace help steering bad policies.
Then you would be wrong too. Actual 26% unemployment. I combed through the BLS data to know. Why do so many people act so stupid to regurgitate the government lies?
The wages could be fixed and not low. It's relative. We really need the cost of living to go lower. We could have been stuck at $1 per hour and have prosperity so long as the cost of living is disproportionately lower. Those calling for a $15 minimum wage do not know what they are talking about - it would spread inflation and hurt those on fixed income, does nothing about keeping the wealthy from raising rents further. I address the underlying problems. Our politicians are unable to do so and apparently most outside of politics cannot do it.
hmmmmmm sounds like these guys are not macroeconomic literate, so I have to pass on what they're putting out.
Of course, someone always take excessive risk or hide the real market value of their firm...
I live in Puerto Rico because of the mess in America! I live a minimalist life now! I spend only the money i have , no credit for me!!! Bought a house for 20,000 to fix up.
Isn't the fed a privately owned & not part of the us government? & if so why? not n the conversation
What about glass stegall act that clinton dissolved
learn about Bitcoin, it's the only reason I am hopeful about the future.
Q..If bank fails how do people who have deposited money in that bank ,have credit cards from that bank buy food?
Q...How long does it take for a moneyless society to collapse
Q...Was 2008 caused by bad debt, $145 barrel oil or oil supply unable to meet demand
The bailout, or the credit jubilee as Max Keiser calls it, was paid by tax payers all over the world. The badly secured subprime loans were dumped on Greece and European banks.
The oligarchs/creditors want to enslave humanity through debt - what Jesus spoke out about in his first sermon, according to Michael Hudson. With a clean slate you don't get a "financial breakdown" for anyone else other than the oligarchs/creditors, and they can live with that like anyone else. A "financial breakdown" is impossible anyway with QE (quantitative easing or money printing).
What is being called a "financial breakdown" here is a description of how the loan markets may disappear for those who are lending out (nonexistent) money, earning money on fraud, actually. (Timothy Geithner is obviously a fraudster, wanting to "fortify" the creditor interests' victory over the debtor interests, having come about at the time of Jesus.) We understand that the oligarchs/creditors want to "fortify" their postion.
A debt Jubilee was what led to the German economic miracle, according to Michael Hudson, and he is of course right about that. This is how ordinary bankruptcies are being handled. (The Great Depression was staged by the Rothschild banking system.) The creditor interests lead to bankrupting society and pushing it into serfdom.
interesting study of modern economics. money is a quantitative measurement of qualitative values. there is a white noise or diffusion of energy not accurately quantified.
it doesn't matter hulk smash
Read the creature on Jekyll island
The most basic flaw with thinking is assuming that "capitalism" and "socialism" actually exist. IT is a mishmash of these tendencies and outlooks that actually exists. The public remains uninvolved and ignorant because they are not presented better information. Seems unavoidable that we just keep going from crisis to dysfunction to crisis.
I would love to know how many people could explain naked default swaps better than this dude. Great video.
CNBC still says we’re still in a strong market nows the time to buy the dip. Lets see how long this dip goes
We need a new New Deal...
they are all involved including all the "educated"economist and bankers
Interest on excess reserves means never having to "go" to the public cause you would ruin the leeches banquet?
I don’t understand why the studio is too dark
Will Johnson Well, I don’t feel that way, I think it just shows a bleak atmosphere!
The studio is undergoing a financial crisis.
The other dude is a mummy.
Cause they are talking about banking...like roaches they prefer the dark..
Emperor Palpatine is very sensitive to bright lights. Dunno why he refuses to wear his cloak.
"Net out" is not a basketball term unless you can get a regulator owners tickets?
Plaza 2- widening of the dollar/yuan peg?
I always like the "way you sat" it.
Krueger moment
Greenberger is a class dude. Rob Johnson is another story
Interest on excess reserves is the silent killer!
Great discussion, but it's not "taxpayer money".
Absolutely brilliant 🎯🎯🎯🏆
hehe
A flat line on a heart monitor is stable. That's socialism. I strongly disagree with the notion that any socialist has the economic big picture in mind. They make no bones about the fact that their campaigns are propelled by social issues and a blatant discontent for anything resembling economic strength. I'm no fan of Trump but at the very least, people are talking about the notion of improving the infrastructure and strengthening national defense. Roads need to be paved. Houses need to be built. Borders must be enforced. Taxing the hell out of everybody just lowers the bottom line.
Economists do themselves and the rest of us no favors by regurgitating the facts of life - the banks run the show. The fact is, the economic crashes that have happened or will happened, they are manufactured, and regardless of who is in office and what their agenda is, the banks run the show. That's the end of the discussion. I don't understand why economists get in a twist about theories and predictions, massive manipulation is obviously a feature, not a bug. Blaming every damn think on Trump won't stop another crash. If anything it will just expedite the reaction and bitter discontent and who will be the one to step up and pull people together and give them shelter and console them for their hardship and misery? The state, acting on behalf of the bank.
But what the hell do I know, I've only been throwing money away for taxes my whole life and seen it gone to nothing. Some semblance of cohesion on the national front is at least distraction from the fact that this whole thing is on life support anyway. The state is the hitman for the bank. The end.
Financial Architecture Analysis correct but
Bailout Tracker indicates bank bailouts were paid back.
Something that no one mentions! Yes, every penny WITH INTEREST was paid back. (we'll keep secret who the one was that was actually doing the paying)
No bailouts will be necessary! Instead buy out failed banks at a penny on the dollar.
I have been hearing this crap for 10 years now.
Here comes the meltdown! Buy gold! Buy Silver!
Even a broken clock is correct twice a day.
Exactly. They use scare tactics to make people go buy precious metals. Even if a meltdown occurred and gold went up to $20,000 an ounce, you still wouldn't be able to sell it because who would be able to buy it???
COULD???
Bail out was funded by Government, not tax payers. Uncontrolled debt insurance will continue to create moral hazard. All it needs is that if something behaves as insurance then it is insurance.
Hmm? Where do you think our government gets their money the tax payer!
You haven't seen anything yet wait till the bail ins take place!
It doesn't, sovereign currency governments create money....
So you don't pay taxes?
This is fiscal and monetary policy theory... When a government issues bonds, commercial banks and central bank create money to buy them as 'safe' assets that are quite liquid and used to mitigate reserve requirements. As long as the government does not exceed the carrying capacity of the economy then there is little problem. Governments continually turn over bonds thus creating and destroying money continually. Government are not like households, like the central bank and commercial banks, make and destroy money. www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy
Way too boring a host and rambles too much at the start what’s toning on ugh
Not to say republicans are much better but to act like the socialist democrats are better on fiscal responsibility is laughable. This conversation and channel could go much deeper but y’all like central banks. Y’all think economies can be “managed.” Y’all think politicians know how to regulate people’s lives better than themselves. I don’t really see what’s so “new” about that.
Maxwell Stetson fascist republicans and socialist democrats... Come on be fair!
Richard Hatfield well obviously lol!
Maxwell Stetson What Socialist Democrats? Name One!
Wat? Most all government reps are socialists. Even republicans!
x x right. Tell me how the military industrial complex, with all its agencies and order followers isn’t a massive welfare system? “No Max! That’s not “real” socialism!” Tell me how the Federal Reserve isn’t socialistic!!?
Just because you want to be technical doesn’t mean that socialism has ever represented anything good. Likewise your petty problem with technicalities doesn’t do anything to address or start to change the real problems in our modern society.
The first and only channel focusing future issues....!! much needed.
If mortgage loans were allowed to be written off during bankruptcy, everyone WHO DID NOT DESERVE A LOAN in the first place SUDDENLY GOT RICH. That would be rewarding those, who did not deserve the loan in the first place. What is this logic? Just take on loans and bet the bank goes bust.