The economy - is it just all BS?

LighterGuy

Was watching that video on youtube. Its from an RTE programme in 1998. Talks about how Ireland could be in a recession. But apart from that. He makes interesting and seemingly shocking statements.


That the money in circulation is all BS. Savings that people have are kinda BS. To overview things that if every single person took their money out of the bank tomorrow. There wouldnt be enough to go around :eek:

(and before anyone thinks, this isnt a lets moan at the bankers thread) this kinda had me shocked. We've all heard the expression "money isnt worth the paper its printed on" - kinda gives a whole new meaning.

ferretone

That's no kinda newsflash for me :rolleyes: Haven't you seen "The Story of Money"?

LighterGuy

ferretone wrote: »

That's no kinda newsflash for me :rolleyes: Haven't you seen "The Story of Money"?

1, good for you :rolleyes:
2, and no i clearly havent

so out economy is all pretty much sh*te and fake.

smk89

What is the obsession with people trying to find the 1st person the predict the collapse? Ive heard people actually compete over the 1st person to find it

LighterGuy

smk89 wrote: »

What is the obsession with people trying to find the 1st person the predict the collapse? Ive heard people actually compete over the 1st person to find it

Actually if you re-read what I said. This ISNT about how some guy in 1998 "predicted" the recession. But about what he is saying about money and banks.

ferretone

LighterGuy wrote: »

Actually if you re-read what I said. This ISNT about how some guy in 1998 "predicted" the recession. But about what he is saying about money and banks.

Which is exactly what I was talking about too. Money system has been messed up for a very long time. And bank credit (which is basically what we call "money" nowadays) can only barely work as long as noone ever lends money that has been lent in turn. And there can never be enough money in the world to cover the interest on borrowings, as that isn't factored in when the new "money" is created from loans made. As I said, it's a messed-up system.

kjl

I worked in a bank and they kept about 400,000 in the vault, I thought there would be millions in there.

All I know is every penny I save I convert to bitcoin because it is a debt free currency.

The Scientician

kjl wrote: »

I worked in a bank and they kept about 400,000 in the vault, I thought there would be millions in there.

All I know is every penny I save I convert to bitcoin because it is a debt free currency.

Are you joking?

Chuck Stone

I hear marshmallows are a safe bet in todays turbulent environment.

Sticky_Fingers

Chuck Stone wrote: »

I hear marshmallows are a safe bet in todays turbulent environment.

pfft, the marshmallow market is way overvalued at the moment, sandwiches is where all the people in the know are storing their wealth.

https://www.youtube.com/watch?v=e3QRTToTLzI

Tayla

Watch this OP. It's long but it's worth it!

Saila

whats this :mad: a simpleton knows of fractional reserve lending :eek:

off with his head!!!! :P

as long as everybody doesnt look for their money at the same time it will be grand, but thats why the bank guarantee happened and fcuked the whole country for FEAR of that happening...go figure

johnmcdnl

https://www.youtube.com/watch?v=vVkFb26u9g8

https://www.youtube.com/watch?v=_doYllBk5No

I've posted this in some other thread before but it basically explains how the basic monetary system works and when you understand how the money is created by the banks you realise how retarded a system it is.....

but then when you understand it you understand why you can't let it fail either because then we're worse off again...

and even the governments of the world have to make sure the banks don't fail because they rely on the banks to make the economy work... with no banks we don't have an monetary system... it's the worst idea ever.. the government should be completely in control of the monetary system but there not and there's very little they can do about it....

the current system we have is BS yes and is simply designed to maximise profit for the bankers...

EDIT - Tayla bet me to it

Saila

Tayla wrote: »

Watch this OP. It's long but it's worth it!

also capitalism: a love story [dvd] will give you realworld realisations of how its affecting us