World economics - Its all about the money
We hardly discuss about economics . I might have quite a few interesting links. So , shall put down some links about the various scams , informative videos about world economy , how the monetary system works and other similar stuff.
⚓⚑Arjun⚓⚑ Fri 6 May 2016 3:41PM
How paper money was created- 3 min: https://www.youtube.com/watch?v=FuHQhGqZvY0
Understanding the Banking system , its origins and how banks make money while everyone else loses it - 30 min: https://www.youtube.com/watch?v=k6zpfE7WjHI
⚓⚑Arjun⚓⚑ Wed 11 May 2016 5:26PM
The fall of the Eurozone: The beginning :
The European debt crisis is a multi-year debt crisis that has been taking place in the European Union since the end of 2009... Will make you think if a common currency is really a good idea or no?
In short , Cheap credit(borrowing) and bad monetary policies lead to the Eurozone crisis.
The result: Austerity measures like loss of jobs , bank runs, no more pension funds, riots , etc etc..
https://www.youtube.com/watch?v=gbZWsjePl-Q
In a bit detail but much better if you want to understand all the major aspects of it: https://www.youtube.com/watch?v=j4_tyEl84IQ
⚓⚑Arjun⚓⚑ Thu 19 May 2016 1:59AM
The LIBOR scandal: While the Eurozone was going through its biggest financial crisis this was still going on.
In short--
WHat is LIBOR?
It is imply the rate at which banks borrow from each other.
WHy would they need to do this?
Scenario 1)
1. Banks give out sub prime loans to people who aren’t qualified like in 2008
2. They do this cuz the interest rate of return is high, betting on derivatives (a number of other reasons too)
3. But now theyre running low on cash reserves , as a result of which they need to borrow money from other banks.(This is where LIBOR comes into the picture)
4. Therefore , by keeping the libor rate low, they can borrow money from each other at low interest rates and keep giving out toxic loans (AND MUCH MORE -read / see video)
How is this bad for u?
Well , obviously the people who took the toxic loans will default one day or another .
Whats gonna happen then? The same which happened in 2008 , governments will have to bail out banks with the tax payers money.
This is just one way how it affects the general public. See below to learn how else it affects the general public.
Watch this first: https://www.youtube.com/watch?v=8sjipzAqejk
And next this : https://www.youtube.com/watch?v=wBCowBiXV7A
A simple article explaining the same: http://www.moneytalksnews.com/libor-scandal-of-the-century/
If you've already been following LIBOR you will understand this one: https://www.youtube.com/watch?v=B3II0F41q0w
Akhilesh Jamdar Mon 23 May 2016 7:03AM
This is relevant to the issue of economics and the goals of the pirate party.
⚓⚑Arjun⚓⚑ · Fri 6 May 2016 3:29PM
My personal favorite : The 2008 global meltdown.
A 10 min video explaining the whole crisis: https://www.youtube.com/watch?v=bx_LWm6_6tA&nohtml5=False
The best documentary about the 2008 financial crisis -explains how it could have been avoided but those in power CHOSE not to.. Contains interviews of the PM of singapore , Present RBI Governer Raghuram Rajan , Finance minister of France and a lot of other prominent names : https://www.youtube.com/watch?v=D9ub25WjEK0&nohtml5=False