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Keynes For Kindergarteners
The ECB has released what appears to be a manga-like brainwashing cartoon geared at kindergarteners which in 8 minutes seeks to explain "price stability" within a Keynesian framework (i.e. inflation in the 0-2% range). We assume this is a failsafe precaution, just in case the religious Keynesian teachings during Econ 101 over at Harvard and Cambridge happen to occur at the not so malleable age of 18+. After all, what better way to preempt Hayek's terrorist influence on young and tender minds than to enslave them real early. We wonder if this is not also a post-facto attack at German politicians who are now openly accusing the ECB of pursuing monetization policies which every now and then tend to lead to a Weimar-like conclusion.
Keynes: for ages 8 to 80.
h/t Nicholas
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The bitch skipped right over hedonic regression and that's where the bullshit meets the wallet in that "harmonized index of consumer prices."
But hey, about that 'too much money in circulation': isn't... my what tight pants you have Mr. EC Banker!
Somewhere in the bowels of The Economist headquarters a cartoon featuring that tart in the tight Euro-sign chemise is being rejected for tastelessness.
Mercury
"harmonized index of consumer prices."
Dude didn't that happen in the late eighties?
DAMN! That was the Harmonic Convergence.
Sorry.
how many times did they mention that capital must be finite in this video ?
Total and utter bullshit. "Finite capital" is like every other assumption in monetary policy, one of the parameters- as we all know too good where this finite capital in a "capitalist world" ends : in the pockets and accounts of multi billionaires like the Aldi brothers or Quandt families in Germany or Rothschilds or Rockefellers. It's about controlling the velocity of money. "Easy-minded" spending creates inflation. That's why it's an excellent idea that governments have realized that austerity packages make "sense". You can be sure that every single € will be spent "intelligenty".
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Call me crazy, but I always thought the word stability implied a lack of change/variation. 2% does not fit the bill; the inflation monster lops half the value in 35 years. That's a 75% loss in a lifetime. 0% or bust!
They don't understand that keeping prices stable doesn't mean that there's economic stability. Prices inherently fluctuate (as do interest rates) in a free market, and allow participants to gauge their actions, like putting on warmer clothes when the thermometer reads 0 Celcius. Keeping prices stable does nothign but distort market action; makes people confident when they shouldn't, for instance, and leads to all the BS we have now (bubbles/unemployment/deficits)...
The Holy Grail, nay, the Bible according to Lord Keynes. His Works being the Foundation upon which the Great Neo-Statist World Order is to be Established. The Future, where the Power Elite, in the form of the Politicians, their Financial Benefactors led by the Great Shining Light of the Knowledge Based Insightful Priests, Faithfully and Altruistically Manage the Fiscal, Monetary and Social Policies for the Greater Good of All Mankind.
Tis' Important, Necessary to Fully Inculcate the Unanointed and Illiterate Masses to the Facile Sterling Promises of a New World Without Want, of Illusory Peace and Redistributive Poverty in the Name of Equality.
The Statist, Temporal, Soulless Dream of Man.
Au contraire. They understand perfectly.
It's everyone else they don't want understanding it.
Correct, correct, correct!
Correct.
Keynes theory requires increased economic growth after each cycle ends
Growth = progessive energy use.
Energy is finite = Growth is finite.
Finite growth = Keynes theory was a lie used by the Establishment to take control of the worlds resourses.
not long to go now chaps...just Venezuela and Iran.
The dirty little secret is that an efficient economy would normally have an annual deflation rate of around 2% due to increased production efficiencies.You can flood the world with fiat currencies, but when companies can make more stuff with less labor and fewer materials, that pesky 0-2% target inflation rate required by Keynes and his disciples is tough to achieve.
criminal propaganda being exposed to young minds. didn't hitler do something like this...
excuse me , i didn't mean to bruise anyone's sensabilities
+1
How about an eight minute video to explain, "What is an exponential function?"
Really, this is mere conditioning for the "unwashed masses". Notice how nobody can ever discuss the "business cycle", and the value of "high cost of money" to remove stupidity, waste, and fraud from the system.
No, we need LOTS of stupidity, waste, and fraud. Double up forever, baby!
We need ZH, Beck, Huffington, Ratigan, all the activists that, like it or not, all make sense on different levels, to come together and make a series of videos for the youth. Beck can do the founding fathers and principles of liberty, Ratigan and ZH can do economics, and Huff can help bring a different type of person into the fold. It's time for everyone to put partisan bullshit aside, and take back education. A unified effort on that level could actually bring about some good.
Not sure if ZH has ever posted this before(do it if not), but here's a "Hayek vs Keynes" rap video that is rather brilliant: http://www.youtube.com/watch?v=d0nERTFo-Sk
Freaking awesome link, +1 for posting.
Thanks. I'm trying to search ZH to see if Tyler has ever posted it before. If I don't find anything I'm gonna email the link to him. Or maybe he'll see it here in the comments and notice its greatness. Really something everyone should see.
Edit: Found it. Shoulda known they'd beat me to it :) http://www.zerohedge.com/article/hayek-vs-keynes-straight-outta-compton
Probably why the real estate burst happened. People everywhere were de-schooling their children. You can't home school children if you make the parents homeless.
It's called Crash Course but it sure isn't 8 min.
http://www.chrismartenson.com/crashcourse/chapter-1-three-beliefs
The good Dr Bartlett explains the exponential function very well.
http://www.youtube.com/watch?v=F-QA2rkpBSY
2% compounded. Key word is compounded.
Sounds awefully familiar to all the econ classes I had to take in college.
Apparently high prices are only a function of inflation. No such thing as supply and demand. Nice. BTW, they had prices stability in Russia. Look at toys manufactured in Russia pre-1990 -- the prices are imprinted on the plastic of the toys, determined pre-production; price stability indeed.
PS. Leo, I didn't realize you had an English accent. ;-p
I agree Hayek's terrorist influence is one of the worst things that can destroy the minds of the youth.
May you never hear serf music again.
+1MM
fall mountain... just don't fall on me,
i'm the one thats gotta die when it's time for me to die...
so let me live my life... the way i want to
Come live in Brazil and you never have the chance again to "choose" what kind of music you will hear. Any place you go you will have to hear Rebolation at 90 decibels or more. Do you think I like it? But what can I do... It is the unregulated free market in the cultural scene...
Interesting comments but please provide some more context for your comments. You can probably tell your assertions confuse me so reasserting them is not going to do the trick.
How is the unregulated free market impacting the decibel count of your music? Did enough of the population decide they prefered the loud music so this annoys you?
Also this doesn't gel with your comment on Hayek, from what i've read (Road to serfdom, just starting on the theory of capital i think its called) he espouses individual liberty and independence.
You are very confusing.
Seriously ever actually read Hayek? Or studied history?
Not being a smartarse, just asking. Am interested in your background / basis for making the above statement.
Respectfully
Zina has an extensive cranio-rectal immersion background.
I can assure you that I had read about 40 times more pages of Economic theory books and Economic history books than the average zerohedge commentator...
And I'm not an economist...
The Adventures of Tin Tin is not economics.
And while America is crumbling at the seams, and our Gulf looks like the new and improved La Brea tarpits, the White House is dancing it up with a Paul McCartney concert at the taxpayer expense. Only in America!
Don't be so parochial. These guys dance to the same tune the world over.
the vid forgot the part about the central bank printing as much money as they want out of thin air and doing whatever they want with it. other than that, it was pretty accurate.
I needed a laugh, this is total CRAP!
isn't this similar to what GS did for Greece?
Yeah but their cartoon presentation looked just like a Club Med commercial.
War to deflate QE, hooray!
"War to deflate QE"
True - the 2 lessons I got out of that sophisticated presentation are:
1- QE is bad
2- Ben Bernanke is the "Inflation Monster"
:-)
Complete with Ben doing the air drop of money
Unlikely, since it has been up since at least the end of April.
Keynesianism is like smoking, religion and democracy - you have to force-feed the propaganda to kiddies when their brains are still plastic and their ability to discriminate (a GOOD thing) is underdeveloped. (That said, you can convince a female in their late teens to smoke, which is hard to do with males).
Let me preface the following rant about the Lord Poofter by saying that I have nothing against autodidacticism per se, but if the autodidact is a pretentious prick who thinks he knows better than everyone in human history who went before him, then he likely has a fool for a tutor. Think "Leo Strauss".
Anyhow... not sure if anybody cares about this anymore, but the Lord Poofter studied economics for precisely ONE TERM.
Let's just say that he was hand-picked as a successor to his mentor for reasons other than his ability to do economics.
His schtick was that he told politicians what they wanted to hear, and did so in a way that is almost infinitely open to interpretation (he was a hand-waving essay writer as well as being a mincing gaylord: the General Theory is twaddle from cover to cover, because it assumes - without ever saying so - that state actors are well motivated and not simply rent-seekers).
Keynes' work reminds me of the famous Diet Doctor in PG Wodehouse who recommends that his patients gorge themselves as a form of aversion therapy: when confronted with the idea that his is why his patients fail to lose weight, he harrumphs: "My method is theoretically impeccable - and what is more, it is very popular."
Cheerio
GT
If the autodidact is a prententious prick who thinks that he knows better than everyone in human history who went before him then he likely has a fool for a tutor. Think "Leo Strauss".
Add Jonny Bravo.
You are making the mistake of confusing the autodidact with the autofellator.
Not in this case. His mirror is his foil, his tutor is himself. He is one of the new breed who don't take well to external advice and has the know-it-all syndrome firmly entrenched.
As for his auto-fellation... he's usually premature and I'm sure he'll never choke on it.
Plan B: A Controlled Demolition
There are two plans. A and B. A is inflation big time with a side of Hollywood Futures Index with a slab of facebook ipo. B is somewhat different. In B they try to collapse the EUro, Yen, and Pound before the doelarr fails. One reason B is looking likely is the fact that Cameron was placed in 10 Downing and Kan might take over as PM in Japan; both are fiscally conservative. Yes This is a dog and pony show, however long they are able to play the game. Question; who knows what they are doing? Wait, more importantly, 'Who thinks they know what they are doing?'
Summers for sure sakes thinks he knows what he is doing. He did the math a few decades back in his Ivy league days that "proved" he knew what he was doing. For another example we have Ben Bernanke. BS went through the system, he did well, and now he is at the top of the pops, dictating the scripture as he goes. Larry Summers was thought capable of winning a Nobel, and the fact he didn't always upset him, as he expected to. BS wrote the gospel on micro-economics; a simplistic message through awkward assumptions; what is a "rational consumer"?
So what is importantwith these guys? Well that we let them be important in the first place! Right- because they do not know what they are doing means it is up to us to tell them off. Once we all understand BS' economica is off kilter, then we can move to oust him and his Keynsian Nightmare he rode in on. Summers' data must be equally as flawed, as it includes a cornicopia of unicorns and a ready supply of cheap, migrant oomploompas!
So now that we know that we know that they don't know what they are doing, let us conclude that whatever they are trying to accomplish (their plans) will not happen. Lowering unemployment by having low interest rates will not happen when all the jobs have been shipped over seas, and many of the ones in the other secters were not only unnessarary, but unsustainable from the start. Stimulating growth with low interest rates will not happen when cheap energy has peaked, as interest rates have no affecton the production rate of oil. What will thesemeasures the Fed has taken do then?
First thing, the measures the Fed and Treasurie have taken will destroy the currentseas. Never minddepreiciating currentseas to "better imports" - (economic professors everywhere!) - we are talking FIAT value at zero! How will this happen? Well now, that is the question!
Plan B- Kill the Euro now, alongside the Yen and the Pound, thus putting all the weight on the doelarr. Then once the doelarrs status as only FIAT is seen as unfair and unstable, the IMF and World Bank will issue new loans of credit for new world currentseas. The loans for the "credits" will be based off of gold reserves, resources, and "skilled" labor. The contracts will also account for debt, so that debtor states like the US have to pay the loans, and reciever states like China get paid back; this in part, most likely at the same clip as current assets/deficite ratio. America for example may recieve a rather large loan, but still would pay China back a large amount as well. This would be fine for China, but the US gets the upper hand; China may have wished to increase their REAL level of Treasury holdings after all. These new currentseas will pale in the face of gold; numbers are of no merit. Silver/oz will give their supplier one month of necessities; rent, food, clothing, etc. Gold/oz will give a year of comfortable living. Have the numbers be what you will. Equities will get crushed to a level that gold is. It is very possible that we see these Wango-Fandango 11-10k dance until gold is up at $10,000/oz. It is also possible that the Dow moves to 5000, or even 2500. It all depends on which plan they choose, and that all depends on the Hollywood Futures Index.
Call it what you will but what else will the next bubble be? We live in a bubble economy, so we need a bubble, and barring zero point energy contracts, the only one I see is precious metals- hello girls ;) "Hi Lennon!" - Platinum, Gold, and SIlver. Note the Fed open swaps to liquidate holdings on the day of the HFI's 1st Congressional hearing. Watching the outcomes of these deals will give insight into which way the gator will go; Plan A or B that is. Watching them will be like looking through the keyhole.
Economics in large part deals with numbers. I do not think of it as a science, so I like to question philosophy's role in markets as well. Numbers, unlike the mind, deal with limits, and consumption/production possibilities provies a limit based on price; but who dictates price? The guys running the Treasurie and Fed, thats who! And by the way, what is a price predicated on? While we are at it, what is a number? Thus an arbitrary placeholder from the thoughts of a "rational consumer" generates the market. Great. Now let us consider the fact that the rational consumer is living with no conception of peak oil. How can one make a rational choice in this case, when finite resources is not considered? Finally remember how the complexity of the price structures affect all the other price structures; think butterfly effect if you will.
America hath dwelt in Samsara with the utmost of complacentcy, never questioning its easy access to energy and entertainment; thank you doelarr! In a matter of years we will be on the backside of oil production, and even in the case of a strong economy the price of the US military would be too much for the taxpayer to bear. The cost of energy not only affects the cost of transportation, but for lead and iron and other materials. Peak oil will be nature's VAT tax if you will. Very soon the reality will set in on the world; nothing is static, everything is falling apart.
Americans are then sandwhiched between delusions of FIAT wealth and the cold reality of peak opil, yet they have no idea what the magnitude of cost will be! Even worse, when the pins come out of the FIAT printing press, spilling ink all over the floor of the "temple", the situation becomes only more dire, as the supply of real money in gold, silver, and platinum will crush the debt. Then when commodities are considered, especially food- unless food is organic, it used petro-chems and petro-fertilizers to grow, the costs go through the roof. This will harm the advantage of technology, so we will not be saved by AI; pray for zero-point, or get ready for the ride of your life.
Economics is the half assed science dressed up as the real thing so it can be spun to further growth. It relegates logic to be derived from fallacious assumptions like the rational consumer but also on growth expectations. Peak oil is real, and we are on its platue. This means we are currently experiencing zero growth, and have since '05. Was it a coincidence that real estate crashed the first year that oil production peaked? Equities followed; was it ironic that oil production still had not gone higher? It is not a coincidence; in ordxer to achieve growth, we need cheap energy. This and the money supply production peaked in the early '90's. Yes I am talking about gold/silver/platinum. These metals are stored in bank vaults for a reason; they make great collateral. Peak iron happened a few months back, and this should also be a major concern. The golden investment oppurtunity lies in the fact that oil is still not on its backside of production, it is at its peak. This is the last time to use them big rigs to get the money out of the ground with oil prices remaining like the numbers we have come to know.
So gold should see a rise in price, as economy professors everywhere say, "Why would a price increase in gold matter?" They of course are not drawing the corallary that gold is being the banksasset on reserve is its first loan of recourse. Gold's price has more to do with the whole system than anything else; it is the center of the arch, the fulcrum. Gold is the fundamental soiurce of all money; it is what the Ark was built for. So going forth in this Keynsian Nightmare gold will hold the weight of the economy, however much. This is what it has to do. This has always been its destiny.
Plan B, USTs are bought in the name of the system, and the dumb money goes along for the irde. Smart money of course will go to gold. If the Hollywood Futures is asked to manifest a Hollywood bubble, doelarrs alongside every currentsea find their weigh to the bottom at the same rate. PAper FIAT isonly servicable to fund the ponzi.
Right now the banksters are in a corner. They have a large supply of money on reserve from the bailouts of TARP ONE and TARP TWO (STIMULOUS), and the jobs program for this summer. Depending on the level of fractional reserve lending you want to use, they have inbetween $13 trillion and $26 trillion to work with. Europe and Asia have a similar amount combined. This but they have a low velocity of exchange. This is not ideal, as they want to maximize doelarr production. This means increasing demand, but how to do that? Well either the Hollywood Futures takes care of it, or eopic collapses in the other currentseas do. Once again, Plan A and Plan B. The HFI will give the new money something to chase and thus increase velocity. Of course FIAT is rotten at its core, so this only gives the appearance to work.
One must not forget, there is a huge swath of people who believe (and have sfor awhile) that this Kensyian Nightmare brought a false paradigm of infinite growth into consideration. Rest assured, if considered rightly, the infinite growth paradigm is ridiculous. In order for this nightmare to end, we must sit and think about where we are in our epic journey, and where we want to go.
* Plan B would keep oil cheap vs. the petro-dollar
That's a pretty big priority. Imagine $4 gas nationwide. Regular peeps would be using gasoline for activities other than driving cars and mowing the lawn.
WTF does the ECB know about freaking price stability?
WHEN TRICHET SINGLEHANDEDLY CRASHED THE EURO by uttering the words "brutal" and "unwelcome"....
LOL..
Trichet was refering to what happened when BB got behind him in Athens.
oh robo, i really like your picture. is it really you???
on to why dickhead harper should tax the crap out of canadian banks instead of running around defending them after buying all their crappy mortgages and dumping them into our national pension plan. we have a goldman sacs kenesian running our central bank and a facist for a PM. they both should be bending a treebranch somewhere.
thanks robo for letting me rant. you look great this morning.
http://murraydobbin.ca/2010/05/22/the-canadian-good-banks-myth/
that deflation noise is crap. who waits to buy a computer or iWhatever... or tv? lies. yea and the ECB only let home price go up two percent a year before they raised interest rates.
Those students remind me of the attention span I get from ALL whom I talk to over these issues.
My family members have presented me with a tinfoil hat at a reunion. I have broad shoulders and can take it but I will gloat like a goat when this over-bloated credit cycle rebalances.
You know what Metcalf said about your handle? - Ned
I love Zero Hedge. While I watch trillions of funny money slosh around the world this web site keeps my feet on the ground. The world economy reminds me of the explosive debates on this site in response to Tyler's Mid-East grenades. We know it won't end well. We just don't know when. My guess is Tyler is not poor. I wish Zero Hedge would spend some/more time sharing ideas on how to survive a bad-to-worst case economic scenario. Am I alone in thinking about buying a gun dealer in order to own a crap load of ammunition? God Bless...
I'm kind of embarrassed for them and their Disneyesque movie.
Setting interest rates = price fixing.
I don't bother trying to explain our problems to relatives any more, my sister didn't even realize that she had an ARM....geez.
That girl made the inflation monster in my pants grow.
How could she, with that accent?
Really, those plummy English accents get my knickers in a knot, and that's not a good thing.
What we need is to put Socialism in the rotation to stop the insanity every 6 years capittalism followed by 3 years socialism every 10 years. That would take the edge off all those bullshit blackboard jungle throw it against the wall and see if it sticks theories. Then we would know where we stand and those that caused imbalances would be forced to balance it out with their money, not ours.
Capitalism? Where in the world has that existed in who knows how long? Please let me know so I can move there. Capitalism would force those who inaccurately forecasted future market conditions to suffer a loss.
+1 Nobody can know that simple fact with a state provided education.
It all makes sense now.
If the ECB sold more green shirts for hot B-cup-laden fillies I'd even move to Greece.
Let free market decides the cost of money. By inflation or deflation, we lose either way.
That video is an object lesson in the cheesy banality of fraud.
+1
I object, I think you meant abject.
OH MY GAWED!!
It's just too much hubris believing the markets can be controlled. Manipulated is not controled.
Mistakes of Titanic proportions are being made based on men believing they can control things like oil a mile beneath the ocean.
The auto industry needs bailouts, real estate needs bailouts, banking needs bailouts, insurance, governments all need bailouts.
So assuming this is the result of things under control, what exactly is the benefit?
Whatever.
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency involved.” Mises. What will it be boys and girls?
where do the robot sex maids appear?
Ha!
They obviously put out that price stability cartoon before they decided to go all in to bail out the PIIGS!
Fucking Limey gits couldn't keep their filthy language away from this "educational" [almost hentai] video. The message would be delivered much more efficiently if, say, a chick with a thick French accent read the prepared text, while the sound of Serge Gainsbourg's " Je t'aime... moi non plus", coming from the background, slowly sets the mood for all the ass fucking Keynesianism will give us once this whole thing implodes with the inefficiency of SDRs.
LOL, the Vatican wouldn't approve...
Serge! Now here's a video where you might learn something worthwhile like discovering new music:
http://www.youtube.com/watch?v=_Fq3-p_1u1Q
Also, check out French rapper MC Solaar's mix-up of same. Smooth.
http://www.youtube.com/watch?v=FDLy_3lDI_0&feature=channel
Mercury
your good†
edit: i think your on board. S L I D E
Ménage à trois
cheekest did you enjoy the last vid
http://www.youtube.com/watch?v=FDLy_3lDI_0&feature=channel
U P D A T E ZH zerohedge really is big time on google search, be aware.
i probably should change my picture.
Y O U
dear sir, are one of the most cheeky
cheekest bastards, i have ever E V E R
.......>run into
my entire long ass life<----------------
well done cage boy†
O H N O
i just googled cheeky cheekest bastards
guess what, it was # 4 search answer.
this is getting scary.
this really is a sophisticated website.
i got to T O N E it down, with my rhetoric.
other people can follow us?
are you aware of this exposure?
My good fellow, that is simply a wizard commentary!
CB, you just rock!
ECB EURO TRASH:
http://williambanzai7.blogspot.com/2010/06/ecb-euro-trash.html
The style looks much more Disney like (think of stuff like Kim Possible and the likes) and it does not target kindergarten but young teenagers.
They just need to slap this into a Nintendo DS cart for the young HFTers of tomorrow...
From the makers of "Captain Planet" no doubt... O_o
To me, the important feature of this cartoon is the supposition that the public (supposedly "educated", middle-class people) should be treated as morons. It's all so dreadfully complicated - let us handle it, and you can go and watch Eurovision. Have a nice day! We'll get back to you occasionally, when we need your vote (or when we need you to die in one of our engineered wars) - we firmly believe in a democracy of morons! Even if the content of this propaganda piece were correct and sound, the main point is that the poor dears shouldn't bother their cloudy little heads with all that boring, complicated economic stuff. So, don't worry, be happy. We'll take care of it all for you (rob you blind, enslave you, and maybe even kill you). There was a man who summed this message up nicely in three slogans: War is peace, freedom is slavery, ignorance is strength. Shall that stand as the manifesto of Europe?
When I saw the little "inflation monster" in the jar, the first thing I thought of was:
I tried to think of the most harmless thing, something I loved from my childhood, something that could never, ever possibly destroy us...Mr. Stay Puft.
http://www.youtube.com/watch?v=d-sALU_hveA
The much vaunted "stability" may mean, depending on circumstances, that prices stay low, but also that prices stay high. Incidentally, interest is a PRICE. And I never knew that the ECB and eurozone CBs are in the business of youngster indoctrination (IMO the cartoon is targeted at kids no older than 10). Is that in their charters, I wonder?
I seem to remember in the Eurozone that with the onset of financial difficulties that when it was suggested that 50 - 90 year bonds should be issued that it fell flat, but now in the interest of bailing out the banking sector, they're all in for SDRs with no maturity(meaning permanent) and a derivatives backstop.
They would have been better off lowering the policy rate in line with short term yields. They're going to have to, anyways.
I see I'm going to have to show my kids a certain rap video sooner than I thought; or will the Austrian opinion be verboten to discuss in school...
I dunno about Harvard/Cambridge but at the LSE grad program we didn't do any Keynesian macro at all, aside from a brief mention in the footnotes.
Are you a gold standard advocate? If not, you were probably fed a lot of Keynesianism and didn't know it. They call it "neoclassical' or some such baloney today. It's all just Keynesianism.
I know what Keynesianism is, so no I wasn't.
Your allusion that all non-keynesians are gold std advocates is fallacious. As is the allusion that anyone that has studied economics has homogenised ideas about policy. Add to that the allusion that I was 'fed' anything, I dunno how uni works in the US but here all your study is self fuelled more or less and everything is based on empirics i.e. we learn more about drawbacks of models than anything.
BTW Neoclassical theory is practically diametrically opposed to keynesian theory.
Zina has an extensive cranio-rectal immersion background.
The real issue here is who gets to create money?
Is it the private banker that has taken over the role of government for private gain through interest and inflation?
Or should the government be responsible for cretaing money in a transparent process that benefits society?
Think, think, think...
It's too hard to figure out, so let's keep the status quo.
She also forgot to mention the third job of the ECB which is to create a debt-slave systems which will bankrupt us all sooner or later. Goebbels would be proud of this video!
Way to go Tyler!
How to balance a checkbook with the "New Math".
Even I am stunned.
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