The Global Financial Crisis Explained Like A Boss.

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Julius Reade

25 thoughts on “The Global Financial Crisis Explained Like A Boss.

  1. I suggest to anybody that wants to know the truth about the monetary system
    that controls our world, to check out a video on you tube called ‘ Money
    Masters’ it really shows the depth of this situation.

  2. Revolution is needed.
    “The world will not be destroyed by those who do evil, but by those who
    watch them without doing anything.“ – Albert Einstein 

  3. How the fuck are the people that bought the wood related to Tim’s profit? I
    didn’t get that connection at all…

  4. The GFC had nothing to do with governments borrowing too much and
    everything to do with big unregulated banks in the US selling toxic assets
    and crashing the housing market by flooding it with the properties of sub
    prime borrowers. Long sentences LIKE A BOSS.

  5. This is not even wrong. It’s way too far from the truth to be considered
    wrong. It’s close to idiotic. Please leave this to economists…

  6. Borrow! i earn money by working and thats where the money enters the system
    not borrowing. I don’t get it

  7. Thanks. It’s taken a while for it all to sink in. But I understand now how
    this works. This video is the icing on the cake. I believe the only answer
    is global governance, a global reserve currency and a negative interest for
    the hoarding of currency, by which we could raise funds for what we need
    and to keep goods in circulation.

  8. why do the guys that bought wood have a debt of 23 dollars?
    shouldn’t their debt be 75 x 1.07? they gave Tim 75$. they are in no
    relation to his own debt to the bank. 

  9. This presentation has many errors, because the money creation side of a
    commonwealth government works differently from what the mainstream says.
    The Commonwealth NEVER has to borrow [it would be borrowing from itself] It
    SPENDS all of it’s money into existence from scratch. To abolish its
    external debts it simply subtracts the debt amount [maturing securities] in
    its books and adds it to another account also at the Fed, all in its own
    spreadsheet. Simple!

  10. There are so many basic mistakes in this video its frightening to think
    anyone would actually take this seriously.

  11. Not everyone borrows money from the bank. If they did then the entire
    system would basically be a big ponzi scheme. Many trade their labor and
    knowledge for money. In which case they don’t have interest to pay. Their
    money is free and clear if any interest.

  12. When a currency is introduced it isn’t with debt. It’s introduced by
    trading it directly against gold or the previous currency. This money
    supply comes therefore into existence without any debt on the part of the
    public.

    When the Central Bank uses monetary policy to buy up securities, of course
    the public has now a debt against the Central Bank that is true. However
    either this debt is resold to the public or the excess interest and
    repayment goes from the Central Bank to the government. The government then
    reintroduces this money.

    Whenever a private bank loans it expands the money supply too, btw, so not
    all money comes from central banks. The expanded money supply allows the
    borrower to pay back the lender with interest. Imagine there was only a
    single private bank lending. If I wanted to start a business, I’d take a
    loan. This loan would expand the money supply. I’d have money to spend but
    the people depositing could still too (as long as they didn’t all at once).
    So how can I repay my debt with interest? By getting money from the
    original depositors.

    You also don’t understand all debt does not have to be paid back at once.

    Imagine for a moment what you are saying is true: the public has to pay
    more to the central bank then there is money in existence. Then there would
    be a huge demand for money (in fact insatiable). This would mean massive
    deflation. The fact we don’t encounter this in the world today should be
    enough proof this is false.

    Inflation can be good because it gives flexibility to the real interest
    rate. 

  13. Eh wait. This explains the problems with the Keynsian system, granted. But
    there are a couple of pretty big mistakes:
    -this isn’t related to the 2008 financial crisis; quite the contrary. The
    financial crisis came about from too much deregulation in the banks and a
    loss of confidence. Keynesian economics actually predicted as opposed to
    the Hayekian view you are defending.
    -Obama the “manipulating bitches”. Granted, he’s playing with the currency
    but well… so did the Republicans. And the financial crisis came BEFORE
    Obama’s presidency. He worked towards fixing it. :p
    Lastly, the whole “eternal debt” thing. I’m not sure I’ve understood it.
    Hyperinflation is the monster scenario that only comes about when the gov
    debt is skewed by something major (say a combination of post-war damage,
    reparations and an unrelated Great Depression…) not from the normal
    course of events. And you can’t really “live over your means”, the value of
    the stuff in a country is outside of short speculation unrelated to that of
    the currency.

  14. Any ways to break this vicious cycle ?

    There has to be a way that money can no longer be created out of the blue,
    based from loans and mortgages. Because 1 day, the time will surely come
    that it is no longer be sustainable.

  15. *THE BIG QUESTIONS*
    What’s so fucking bad about defaulting?
    Why isn’t everybody fighting everybody?
    Why don’t we go to war for their resources and kill everyone so you get
    free stuff with no human liabilities?
    Who is going to whip out the gold to pay the debt FIRST?
    What is Julius Reade’s qualification for explaining this?

  16. I used to worry about the huge national debts until I heard about
    quadrillion dollar derivatives markets – just getting used to trillions so
    had to check what a quadrillion was – only another thousand trillions so
    they’re worth about 10 times global GDP I suppose. When things get reset
    following numerous national debt defaults, I imagine that market will
    spiral down like a meltdown in a nuclear facility as will the stock market.
    Is this why China and Russia are reported as stock-piling gold – as
    currencies crash the gold price goes into orbit and covers some of the
    losses and they start again from scratch.

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