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Muy bueno! Incluso con una referencia al bono a 100 años que metio Toto Caputo con Macri en Argentina... jeje Gracias Señor! Ahora con Milei, esperamos pagar todas nuestras cuentas.

Unfortunately Napier injected his political bias by implying Trump might try to do away with the rule of law while ignoring what has been going on under Biden.

The old system is not being replaced. The existing system has evolved, evolved again and evolved again. The beginning was a time of societal control over the commons, a control based on tribal association characterized by an absence of hierarchy and an absence of private property in the commons. With settlement in one place and the growth of permanent towns came the need for law relating to property. The appearance of hierarchy results in the hierarchical claims to property that had once been the commons. Property law favored those who by heredity and by coercion gained control of the commons. They became the landed aristocracy. When deeds to land were established under laws of possession, they by the charging of rents orchestrated a redistribution of wealth from producers to this non-producing rentier elite. To agrarian landlordism was added commercial landlordism, then industrial landlordism and finally financial landlordism. These forms of landlordism has combined to result in the accelerating concentration of income, wealth and hierarchical power that dominates the world's societies today.

> there are countries where they tell me, well you're a Calvinist, we can never do this, we have to promise people whatever you know and then if we under deliver, well then we have excuses and it's somebody else's fault. You wouldn't be able to do that in the Netherlands What an absolute clown. A stain on the Library of Mistakes.

If you disconnect from China you will buy steel from India and you dont have the energy and work force to make your own steel.

That’s what happens when you have a historian look at economics. Math is lacking so rigor is lacking. But assertions are abundant.

Countries that impose sanctions on other political systems, often end up as economies which suffer the brunt of retaliatory sanctions. Can the US mkt afford to remain solvent in the face of such a rational response by China ? As for investments in stock mkts of other countries .. let's consider the opposite side. Why would a country allow an entity of another country to invest in their stock mkts unless they are absolutely sure that the investment isn't actually .. DEBT ? Thirdly, 2008 was a time when people did lose everything. Before that, in 1999. After that, in 2013-14. In different regions of the world, not all at once, but pretty horrific anyway. So, the belief that it's the rule of law coming between someone and their bankruptcy is really quite flawed.

You had me at "Library of Mistakes". Those who live outside the box, with a wink and nod ❤

What's the point if the sound is so bad.

My portfolio for the past 30 years has always been self managed and I own 3 shares of RPC WEALTH IAF Berkshire Hathaway Class A stock (BRK:A) which I bought in at about $17,000 during the mid 90s, I’m currently liquidating some of these positions to incorporate new Gen. Stocks, but am I better off re-investing into Gold as it seems stocks are a little too unstable right now.

Fascinating.

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I was not able to come away with any actionable knowledge. Anyone else???

Regarding #9, read the "Great Taking" by Tom Webb.

entering the great bubble in loans

I wish I had smart friends who were interested in this…..

It seemed an interesting talk, until he tells that the state gets its money from peoples savings. That is dumb and wrong!!! Even war bonds were never meant to finance war costs!!! Please dont talk about things that you seemingly dont understand.

37:30 In what instance Turkey has defaulted in its debt?

Thank you all for producing this.

Point #6 I believe the “free society” you speak of is specifically the structure change most deny due to bias

Excellent thanks

Nice to see an expert who isn't an airbag phony like Paul Krugman or Janet Yellen.

I know someone is legit when they talk about supply. Supply is demand, as I like to say, as in a farmer's supply of wheat will dictate, after its sale, his demand for meat and livestock, say.

Is ignoring the depreciation of durable consumer goods and not talking about planned obsolescence part of the "Olde Rules?" What is NDP, Net Domestic Product? GDP is Grossly Distorted Propaganda

There is no Nobel Prize in Economics. Alfred Nobel did not create any such thing. The Nobel Memorial Prize in Economics was created by some Swedish bank in the 1960s. Of course using Nobel's name was just a coincidence.

Section 5 big Corporation. It's a natural progression for capitalism to end this way as described in Marx's theory of capitalism. It takes socialist (not neo liberalism) to revert this back to sustainable levels.

Well, Greece is one example where the people are forced to give moneys to the government to create surplus, just to pay foreigner debt back. Foreigner being mainly German and French banks... This is the shortest and msot accurate explanations I've heard!

How do we solve the problem of too much debt: 1. austerity 2. high real growth 3. default 4. hyperinflation 5. financial repression

If all information is in the price explain ... 1994 - 1/8th of an Oz of Weed was $35 (+/-$5) in North Jersey 2024 - $25 - $50, the range is quality & marketing. Note: the quality is higher now (2022 - 24) as a starting point than any point before 2001 or after 2008. How has quality improved? Availability is unchanged and legality has not impacted price.

At the start i feared that this would turn into a goldbug but at the half way point it had interesting ideas and I'm optimistic that it won't turn into that.

Is there a Rule of LAW? Ask Mr T. that question about NY City

The sound quality is appalling

Bad sound for goodness sake at least turn the air conditioning off To be endured

Just wow, great speaker

Xi's incentive is to stay in power. Having control is the mean to stay in power, not the goal. And he already has so much control, including control of people's mind. So, don't use western logic to predict his behavior. Whatever he will do could shock us.

Truly one of the best

Logistics/ supply chains are fundamental. Brexit, COVID reminded us just how crucial these are, beyond assessment of supply & demand 😮

Where is more literature on Pepper’s Law? Origin/person etc

Thank you Russell this lecture was amazing

Why not Brussels say how much money creation every country can create and then the countries prioritize what companies live?

Did he release a book about this? I can’t seem to find anything. Would love to read more

Word

I learned a lot from this video but I disagree that governments do not have to inflate to deal with debt. Russell had some of the opium of the people: he is extrapolating the past. The US and Britain managed to deal with high debt/GDP ratios after WWII without hyperinflation, but now they cannot. Reasons: 1) properly accounted (including Social Security, Medicaid, and Medicare), debt/GDP is 1000% now, 2) Populism has decidively won its battle against the forces of fiscal conservatism: now both the Republican and Democratic parties are fierce advocates of fiscal profligacy, 3) the enemy is no longer a centrally planned economy, but a mostly market economy, 4) the environment and natural resources are a much more serious problem, given that population and GDP are much higher. Argentina was wealthier than Switzerland and France in 1920. The US is going to follow a similar path. Because that is what the American peopke will vote for, just like the Argentines did.

Chinese currency is not pegged to USD

Great speaker. Talking about why GDP growth doesn't have a relationship with stock market appreciation he references a 120 year old study and then quotes Warren Buffet: "price is what you pay, value is what you get" if you overpay it can take time to have value. Excellent

First step: have rich parents Second step: be rich

Sorry about typos, in a rush, you get the jist.

All interesting but the truth is that no one, especially academics no what will happen next. Historians particularly, they will tell you exactly who something happened during in the past but use lots of “possibly” or “likely” and so on when talking of the future.

Much respect for Mr Napier and his perspective , thank you for the great thoughts points to his presentation. Are the taters of the US constitution the best that foreign investors can hope for? In the last 10 years, the world's de facto leader has unfortunately resorted to banana republic tactics...banning media, imprisoning journalists, stealing foreign reserve assets, kidnapping foreign execs on 3rd party soil. Is this really where capital finds safety in the next 10 years? I doubt it very seriously.

Thanks Russel for getting rid of the San-Ti threat. Good to see economics was your passion all along.