I agree. I was slowly catching up to how the banks worked but this filled in a number of gaps.
For instance, I thought that "printing money" was mainly a thing central banks did and while I knew that local banks could create money from nothing I never realised just how important that was. Also, it had not dawned on me just how important it was to direct that extra money.
If it was used to buy property that was a recipe for a boom-and-bust property cycle which the banks can initiate whenever they choose but if the money goes to local entrepreneurs and small businesses the country starts to flourish and that explains the rise of Japan, the rise of China and, I suspect, the rise of Germany after the Weimar Republic.
The other point I discovered was about lending money to countries to ensnare them into paying you back for ever. I knew the World Bank and the IMF did that but the mechanism was not entirely clear but that was mentioned in the video as well.
Have just watched 2 hours. Really excellent. So many red pills dropped about how banks really operate. Astounding.
I agree. I was slowly catching up to how the banks worked but this filled in a number of gaps.
For instance, I thought that "printing money" was mainly a thing central banks did and while I knew that local banks could create money from nothing I never realised just how important that was. Also, it had not dawned on me just how important it was to direct that extra money.
If it was used to buy property that was a recipe for a boom-and-bust property cycle which the banks can initiate whenever they choose but if the money goes to local entrepreneurs and small businesses the country starts to flourish and that explains the rise of Japan, the rise of China and, I suspect, the rise of Germany after the Weimar Republic.
The other point I discovered was about lending money to countries to ensnare them into paying you back for ever. I knew the World Bank and the IMF did that but the mechanism was not entirely clear but that was mentioned in the video as well.