http://www.bbc.co.uk/news/business-15059135
"Governments don't rule the world. Goldman Sachs do".
Telling it like it is.
(14 posts) (10 voices)-
That's the craziest video I've ever even seen. I don't know what to make of that. He's clearly *correct,* but there seems to be an implicit agreement that people who talk about the stock market in the news should attempt to avoid a stock panic, rather than attempt to incite one.
Also, of course, what he's saying with his tasteless cancer analogy is that basically we should just pull all of our money out of the stock market: amputate, rather than attempt to save, a limb. If everyone in the world did what he just told them tomorrow, markets would crash one hell of a lot faster than he just predicted they would.
I have to say, though, that his brutal honesty was a little bit refreshing... Even if it does mean anguish for millions of people around the world.
Posted 1 year ago # -
I actually think he's got a point - pouring billions into Greece (for example) just prolongs the inevitable pain. It's been obvious for years that Greeks don't want to pay tax - Their tax-gap is ridiculously high.
So why endanger everybody else by trying to bail out an economy that can't be saved? Greece is done in the Euro, and if the Eurozone keep trying to bail them out then the Euro itself is done too.
Posted 1 year ago # -
UrsaMinor
MemberWe need to establish a new currency based on some tangible commodity. I suggest the goat as the basic unit, as they are small and relatively portable. If smaller denominations are needed, we can accommodate this by making change in chickens, and below that, eggs. For large transactions, cattle. I would further suggest implementing a decimal value system for ease of transactions (and to mesh with the metric system), so that a chicken is one decigoat, an egg is one centigoat, and a cow is one dekagoat. Peanuts (a.k.a milligoats) would do nicely for the really small things, I think.
Further denominations are left as an exercise for the reader.
Posted 1 year ago # -
Spectrox
MemberI reckon the best ideas for solving the economic crisis in the US (and the wider world) are contained within Monetary Reform.
Money reform actually means that 3 things need to happen:1. Governments have to stop borrowing money into existence from private banks (e.g. the Fed). They can create their own money at 0% interest.
2. Private banks need to stop lending money they don't have - called fractional reserve lending / capital adequacy ratios.
3. There needs to be significantly more debt-free money in the system (i.e. cash or its electronic equivalent) and less debt-based money.
Most of the money in the US and Europe is tied up as an interest-bearing debt to a bank or financial institution. 97% of UK money supply is debt-based.For the US see http://www.moneymasters.com
For the UK see http://www.positivemoney.org.uk
Posted 1 year ago # -
Goats smell bad and they die. We can't have currency that dies-out on us. Plus, ATM transactions would be hell. Ever try and fit a goat through one of those little slits?
Posted 1 year ago # -
UrsaMinor
MemberTo the people who have raised objections to goats as a monetary standard: I think you just haven't thought it through.
They're way too good as escaping enclosures to act as a stable currency.
This prevents the concentration of too much of the nation's wealth in the hands of a few, with all the attendant social and economic ills that entails. Better yet, the redistribution of wealth occurs naturally, without heavy-handed government interference that smacks of socialism.
We can't have currency that dies-out on us.
Yes, but even in times of hyperinflation, goats retain their full nutritional value. Your trip to the salad bar may cost $89.95 if you pay in dollars, but even a highly devalued goat is still a full meal for a family of four.
Plus, ATM transactions would be hell. Ever try and fit a goat through one of those little slits?
That's what Cuisinarts are for. Remember to carry a funnel for deposits, and a bucket for withdrawals.
I'd like a form of currency that isn't more clever than I am.
Can't help you there.
Posted 1 year ago # -
@Ursa
Goats can multiply, too, resulting in increased wealth. The more goats one has, the more they multiply. Just like now, the rich keep getting richer!
Posted 1 year ago #
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