i love how the gov't and banks intentionally shroud their actions behind these big names like "quantitative easing", etc. they realize the average person won't know what that means, and therefore won't research it any further. thanks for posting this.
Mr Malekon, Soooooooooooo goood. Keep going. You've got a gift for slicing, dicing and presenting the bullsh-t that's going on thats both simple, disarming, and deadly right on at the same time. Take on more subjects and keep exposing it all. Hope your little characters go viral. Id vote for these two ahead of any Democrat or Republican pretender.
@Ralphdraw3, please explain why "banks such as Washington Mutual ... were giving out subprime mortgages". Giving loans to people who can't afford to pay them back would make no economic sense under normal free market rules. Whether these bad loans were papered over by putting them under investment banks is ultimately besides the point.
''Since I entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they better not speak above their breath when they speak in condemnation of it.'' - Woodrow Wilson
It's good but far from accurate. 1 Ther's no shortage of money, the world over the money supply has expanded x not 2,3,4,6,10,or 20 or even 50 times but several hundred times in the last 50 years about 1000s times in many countries. so tax is not needed and inequality has gone though the roof. 2 According the the Reagan ordered Grace Commision every cent of the worlds biggest tax intake goes to pay interest charged by a private central bank, not a cent for hospitals, prisons, schools, police, firefighters, parramedics, or even war and government salleries. 3 There is no federal law requirement to pay income tax. The money to bail out the banks is borrowed into existence by ( not from) the government, from the banking cartel, expanding the debt that can never be repaid, lowing the value of all money. Remember banks are in the buissiness of lending money they don't have and charging interest on it. Income tax is the interest on the governments debt
@FourDollaRacing Each day, the media picked on WaMu asking "Will it fail? Will it fail?" People got nervous and withdrew their money, causing it to fail. On Thursday, September 25, 2008, the US Office of Thrift Supervision (OTS) seized Washington Mutual Bank and placed it into the receivership of the FDIC. The OTS took the action due to the withdrawal of $16.4 billion in deposits during a 10-day bank run (amounting to 9% of the deposits it had held on June 30, 2008) B of A was next in line..
@tryptala Re: "you've got a revolving door between the overseers, the government, and the participants, who do you rely on to create and enforce laws?" I would agree, that is a huge problem. I have no idea how that issue can be resolved.
It was never resolved by printing 800 billion by Obama and then for next 10 years additional 4 trillions were printed and floated worldwide resulting in great borrowed economic boom for the world until PLANDEMIC as it was drying up. Need reason to print another few more trillions right. So in last 3 years much more printing happens under various false pretenses. By 2030, USA dollars dominant will be destroyed Financial, so now in 2023 they will tighten for lending for a year, this will create such additional recession and inflation reaching from 6-8% overall to 10-12% overall. Food and energy is 12% inflation now, it will be 18-20% next year. Tighten your seatbelt, roller coaster ride is about to begin post Christmas. Save every dime now, no new loans or debt, teach minimalistic to family and survive the storm that is brewing 100X of 2008 crisis. Signs are very clear. News don’t show but worldwide every poor country are suffering, almost ten countries are bankrupt, 2023, it will be 50 and in few years 100. Every penny will count. Buy Gold end silver coins Buy farm land Buy energy companies stocks (they will be paid billions to keep your home warm) Buy food that last 6 months every few months.
@Ralphdraw3 ("We USED to have one of the best and most trusted financial systems with regulation by the SEC, the FDIC and the Fed. Now with deregulation, mismanagement and greed by investment houses, the US financial system is a wreck.") The financial system has only gotten more out of wack in the decades since those institutions were introduced. When did that deregulation happen? Must have missed it. Regulation has only increased since the dotcom bubble, with the disastrous Sarbanes-Oxley etc.
@henleythecat "Thanks for the pointer to "Terry Jorde Congressional Testimony". It's been a while since I read the entire thing, but I think she was talking about how to prevent "systemic risk" institutions, and noting that the community banks fared much better through the crisis. "We recommend that Congress take a number of steps to regulate, assess, and ultimately break up institutions that pose unacceptable risks to the nation’s financial system"
I've never run the numbers on this but at one time I believe it was said it would have been cheaper for the Govt. to just pay off EVERY home loan in the U.S. than giving money to the banks. Has anyone ever done the math?
@Lombokstrait1 well to be more specific it was exotic derivitives like CDOs and CMOs that the banks pooled together and got them AAA rated. Look up Matt Taibbi, he has a few articles on the mortgage crisis that he spent almost 2 years investigating.
#3 is your best question and the answer is yes.We will have to pretty much start over and that will take a little time to recover.If you want to know how the big banks ruin countries 1 by 1 take a look at what happened in Iceland.Their economy crashed because of the bull shit the banks did over there and their unemployment was at 15%,then they kicked out the banks and started over and now their economy is flourishing.
@modifiedcontent "If something goes horribly wrong you don't fix the problem by papering it over" I agree. But if you are given half a dozen possible fixes and are told we don't know what the result will be on 5 out of the 6, which one would you choose? Given the choice between stagnation and a unknown result that could include WW depression and a collapse, which would you choose?
@henleythecat ("I’m getting tired of this anti-bailout nonsense. The Fed and the Treasury had two choices… Bailout the banks, or let them go under") The obvious choice should have been to let the go under. That is how it is supposed to happen under the law. Let failed institutions collapse and clear them out to make way for the new. Change!
The Ben Bernank and the Timothy Jeethner!!! WOW! A-FUCKING-MAZING, MAN! Keep the great videos coming! This should have as many views as "Quantitative Easing Explained." P.S. QE3 is a go, so maybe you can make another video on this next crazy scheme, yes?
Money is a metaphor for time, goods, etc. In a complex world we can't easily carry ten ox hides to trade so we use a symbolic item. Silver and Gold were used widely as early at 600 BC in ancient Greece, Persia, Egypt etc. Native Americans used beeds, shells and furs in similar fashion. You don't have to be anyone's servant if you can assemble food, shelter etc with your own work.
@modifiedcontent ... "The choice should have been to do the right thing and face the consequences." And you just made my point. There have been dozens of books written on the crash, & more to come. What I found missing is a equal analysis of what would be reasonable to expect if the banks & AIG were not bailed out. Yet everyone wants to argue that that would have been a better option. Yes, they might be feeding you a line that they did the right thing.. then maybe not.
@mikemat3307 Re: "Really? The MBS market froze because sellers were not willing to accept the buyer's prices, not because there were no buyers." The TARP program was supposed to buy the assets because there was no market for them. Then some hedge funds started to make low ball offers at a price that the banks could not accept (or they would go under). The fed's could not determine a fair value, so they quickly dropped that plan as did the exchanges since one CDO did not look like the next.
@TheAdarkon Paul has a better grasp of sound economics than any of the Keynesians in Washington. Many of the same banks that were bailed out, make up the Federal Reserve and worked in tandem with the Fed to create the bubble and eventual crash. Rapidly increasing the monetary supply, lowering interest rates without correlation to savings. Injecting cheap credit into the system, causing a bidding war for commodities in specific sectors, that leads to substantial inflation across the market.
@gilbet When the media started picking on Wachovia every day, asking "Will it fail? Will it fail?", which threatened to cause a run on that bank too, just like it did with Washington Mutual, the President and Congress were smart enough to see it was time to put a stop to it, before it turned into an avalanche of failures that would have taken all the banks down. People are told their money is insured, but that's not the same as having continual access, so most people will just take it out.
@madhatter0110 Really? So, it's OK with you to allow companies to operate without the fear of bankruptcy, or are you saying the US government should be "allowed" to invest in the stock market, like individual states?
this will allow larger corporations to buy and own all aspects of commerce ... and effectively solidifies economic slavery ... every penny you make will be put back into the businesses you work for ... essentially making the worker payout equal zero ... every penny you make will be used to pay off national and personal debt, upkeep basic cost of living and basic creature comforts ... this system was historically called indentured servantry ...
My problem with TARP is Congress took an equity risk without the equity return. TARP funds were pseudo equity. Instead of taking the equity returns, for ideological reasons (Nationalisation is a rude word) Congress took a bond return. This makes the TARP a free gift for the banks receiving it. Had it been some equity issue then the bank bailouts avoid political fallout - its not free money, and Treasury would have made a profit on the deal while saving the economy.
@DillonDee1 That wasn't my question. But since you bring it up...I don't think there should be any corporate or business taxes. Business taxes ultimately get passed on to the consumer. But if there is going to be a corporate tax, then ALL businesses should pay the SAME tax. I think Exxon pays about 12.5 % instead of the 35%. Verizon has a negative tax rate. I wonder what GE's tax rate is?
@henleythecat The recession of 1922 is the better example than the Great Depression. The Great Depression occurred because of Fed policy. In 1922, the system left alone purged of the bad elements, and the recession was short. Now there's no purging, INCLUDING A PURGING OF THE BAD POLITICAL ELEMENTS. The same bad elements are in place continuing to do what they've been doing. The economy IS horrible right now. The bailouts simply put off the inevitable and will make it worse. That is predictable.
@maleki9 The Gov does not offer 'loans' to banks. The Federal Reserve stands ready to loan any amount of money those banks want. The Gov 'did' purchase equity in banks so that the banks would have enough reserves to make new loans (fractional reserve banking = the banks can only borrow/lend based on a multiple of their reserves). The hope was that the bank's resulting increased reserves would enable them to then start lending again with money borrowed from the Federal Reserve.
"What about the Goldman-Sachs? Did they buy another bank?" "No." "Why not?" "Because when you already own the U.S. government, you don't need to buy another bank."
@itachi705 Apples and oranges. The 1921 recession was due to a surge in the labor force returning from WWI. We had to convert from war time production to peace time production. This was NOTHING like the Great Depression.
love the little bears casually discussing bank bailouts in the middle of a beautiful day
The no and shaking of his head is hilarious.
i love how the gov't and banks intentionally shroud their actions behind these big names like "quantitative easing", etc. they realize the average person won't know what that means, and therefore won't research it any further. thanks for posting this.
Mr Malekon, Soooooooooooo goood. Keep going. You've got a gift for slicing, dicing and presenting the bullsh-t that's going on thats both simple, disarming, and deadly right on at the same time. Take on more subjects and keep exposing it all. Hope your little characters go viral. Id vote for these two ahead of any Democrat or Republican pretender.
lolz, 4 years old and still as true today as was back then
@renegade_ace your comment is now 4 months old
Hi Random Dude,
Your comment is 2 months old.👍🏿
@@thana64 no its actually 5 yrs old dude.... 🤔 Wtf?? 😂
Lulz---9.5 years old and still as true today as was back then
😂😂🤣🤣🤣
When you already own the US Government, you don't need to buy any bank. LOL
I hate that these are more relevant in 2021 than they were back in 2011, but at the same time I love it.
I wish this guy still made material
I still laugh out loud when I hear "the ben bernank". Hahaha!
This is AWESOME guys! Thanks so much for taking the time to EDUCATE us by feeding us the TRUTH! This is beyond the evil serpent rearing its evil head!
This vid is priceless. Thank you bro. I'm sharing this like crazy!!!
I laughed so hard at the end of the video that I didn't realize I was crying at the same time.
Oh my goodness... this is amazing. Great job!
these shorts are the absolute funniest poking at everything real i've even laughed by butt off.!
pictures - or it didn't happen Judy! :) x
This was great information and well researched...I love it... brillant..thank you for being informative :-)
you are correct, both profit and loss should be privatized. People should pay for their mistakes.
@Ralphdraw3, please explain why "banks such as Washington Mutual ... were giving out subprime mortgages". Giving loans to people who can't afford to pay them back would make no economic sense under normal free market rules. Whether these bad loans were papered over by putting them under investment banks is ultimately besides the point.
This video is so educational, it's a real classic.
I love his brutal honesty
Came back to this vid because I just saw a RUclips ad about financial advisors from The JP Morgan Chase Bear Stearns Washington Mutual. lmao
Outstanding. Keep them coming. I never get tired of hearing about the adventures of the BenBernanke.
thank you for cartoons
they explain the world i live in better than the news i listen to
''Since I entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they better not speak above their breath when they speak in condemnation of it.'' - Woodrow Wilson
9 years old and still relevant. this will be relevant 100 years 1000 years 999999 years from now
whoever wrote this did his homework. it's clearly explained and very funny. great work!
This is the best. We should have more cartoon like this... why don't they make more ??? This is much better than the NEWS or watching TV ! LOLOLOL.
this is hardly a cartoon
It's good but far from accurate.
1
Ther's no shortage of money, the world over the money supply has expanded x not 2,3,4,6,10,or 20 or even 50 times but several hundred times in the last 50 years about 1000s times in many countries. so tax is not needed and inequality has gone though the roof.
2
According the the Reagan ordered Grace Commision every cent of the worlds biggest tax intake goes to pay interest charged by a private central bank, not a cent for hospitals, prisons, schools, police, firefighters, parramedics, or even war and government salleries.
3
There is no federal law requirement to pay income tax.
The money to bail out the banks is borrowed into existence by ( not from) the government, from the banking cartel, expanding the debt that can never be repaid, lowing the value of all money. Remember banks are in the buissiness of lending money they don't have and charging interest on it. Income tax is the interest on the governments debt
Still hilarious in 2021.
Still applicable to the current situation... hilarious and sad...
@FourDollaRacing Each day, the media picked on WaMu asking "Will it fail? Will it fail?" People got nervous and withdrew their money, causing it to fail. On Thursday, September 25, 2008, the US Office of Thrift Supervision (OTS) seized Washington Mutual Bank and placed it into the receivership of the FDIC. The OTS took the action due to the withdrawal of $16.4 billion in deposits during a 10-day bank run (amounting to 9% of the deposits it had held on June 30, 2008)
B of A was next in line..
@tryptala Re: "you've got a revolving door between the overseers, the government, and the participants, who do you rely on to create and enforce laws?"
I would agree, that is a huge problem. I have no idea how that issue can be resolved.
It was never resolved by printing 800 billion by Obama and then for next 10 years additional 4 trillions were printed and floated worldwide resulting in great borrowed economic boom for the world until PLANDEMIC as it was drying up.
Need reason to print another few more trillions right. So in last 3 years much more printing happens under various false pretenses.
By 2030, USA dollars dominant will be destroyed Financial, so now in 2023 they will tighten for lending for a year, this will create such additional recession and inflation reaching from 6-8% overall to 10-12% overall.
Food and energy is 12% inflation now, it will be 18-20% next year.
Tighten your seatbelt, roller coaster ride is about to begin post Christmas.
Save every dime now, no new loans or debt, teach minimalistic to family and survive the storm that is brewing 100X of 2008 crisis.
Signs are very clear.
News don’t show but worldwide every poor country are suffering, almost ten countries are bankrupt, 2023, it will be 50 and in few years 100.
Every penny will count.
Buy Gold end silver coins
Buy farm land
Buy energy companies stocks (they will be paid billions to keep your home warm)
Buy food that last 6 months every few months.
@Ralphdraw3 ("We USED to have one of the best and most trusted financial systems with regulation by the SEC, the FDIC and the Fed. Now with deregulation, mismanagement and greed by investment houses, the US financial system is a wreck.")
The financial system has only gotten more out of wack in the decades since those institutions were introduced. When did that deregulation happen? Must have missed it. Regulation has only increased since the dotcom bubble, with the disastrous Sarbanes-Oxley etc.
@henleythecat "Thanks for the pointer to "Terry Jorde Congressional Testimony".
It's been a while since I read the entire thing, but I think she was talking about how to prevent "systemic risk" institutions, and noting that the community banks fared much better through the crisis.
"We recommend that
Congress take a number of steps to regulate, assess, and ultimately break up
institutions that pose unacceptable risks to the nation’s financial system"
"We want to rob the country."
"Get a banking license."
Brilliant! Tears in my eyes...from laughing and crying now...
Gotta love that ending!
I've never run the numbers on this but at one time I believe it was said it would have been cheaper for the Govt. to just pay off EVERY home loan in the U.S. than giving money to the banks. Has anyone ever done the math?
@Lombokstrait1 well to be more specific it was exotic derivitives like CDOs and CMOs that the banks pooled together and got them AAA rated. Look up Matt Taibbi, he has a few articles on the mortgage crisis that he spent almost 2 years investigating.
"Often the masses are plundered and do not know it."
Frederic Bastiat
I love your videos Omid!
This is HILARIOUS. Love the computer speech engine voices.
#3 is your best question and the answer is yes.We will have to pretty much start over and that will take a little time to recover.If you want to know how the big banks ruin countries 1 by 1 take a look at what happened in Iceland.Their economy crashed because of the bull shit the banks did over there and their unemployment was at 15%,then they kicked out the banks and started over and now their economy is flourishing.
great job, all of these videos are great! again, good job!
I wish this guy would create some new videos
I love the little CG thingies with the funny voices
This video is gold.
@modifiedcontent "If something goes horribly wrong you don't fix the problem by papering it over"
I agree. But if you are given half a dozen possible fixes and are told we don't know what the result will be on 5 out of the 6, which one would you choose? Given the choice between stagnation and a unknown result that could include WW depression and a collapse, which would you choose?
Damn that's a good one , did you come up with this one yourself ? if so can I use it sometime. ?
As a 20 year old who saw this happen in real time but had no understanding of it this is very eye opening
@henleythecat ("I’m getting tired of this anti-bailout nonsense. The Fed and the Treasury had two choices… Bailout the banks, or let them go under")
The obvious choice should have been to let the go under. That is how it is supposed to happen under the law. Let failed institutions collapse and clear them out to make way for the new. Change!
Perfect Perfect Perfect...Yes, thank you for keeping it clean and purely factual....
After the bailouts, the banks also didn't increase lending as was originally intended either.
The Ben Bernank and the Timothy Jeethner!!! WOW! A-FUCKING-MAZING, MAN! Keep the great videos coming! This should have as many views as "Quantitative Easing Explained."
P.S. QE3 is a go, so maybe you can make another video on this next crazy scheme, yes?
WOW...WHAT A GOOD INFORMATIVE VIDIO...THANKS FOR POSTING..IT JUST GOT ADDED TO MY FAVORITES...GUS SERRANO
"The Timothy Geeeeethner" hahaha
Well Done ..Keep Em Coming...
Does the two plus two equals pink?
Favorited.
This is brilliant.
6:36 Another reason why we shouldn’t pay income taxes
Money is a metaphor for time, goods, etc. In a complex world we can't easily carry ten ox hides to trade so we use a symbolic item. Silver and Gold were used widely as early at 600 BC in ancient Greece, Persia, Egypt etc. Native Americans used beeds, shells and furs in similar fashion. You don't have to be anyone's servant if you can assemble food, shelter etc with your own work.
@modifiedcontent ... "The choice should have been to do the right thing and face the consequences."
And you just made my point. There have been dozens of books written on the crash, & more to come. What I found missing is a equal analysis of what would be reasonable to expect if the banks & AIG were not bailed out. Yet everyone wants to argue that that would have been a better option.
Yes, they might be feeding you a line that they did the right thing.. then maybe not.
Name of guy who had the $70,000 desk?
John Thain. The desk was only $17K. The credenza he bought was $70K.
this needs more views
What programme did you use for this?
...then the joke is on you. [sadface]
Loved the ending.
@CattitudeInterlude
Not disagreeing, just honestly asking...where did you get that from? I never heard that JFK tried to shut down the Fed.
So we did we have to bailout car companies and banks? I was trying to get at that.
Excellent.
This is a great, great video...thank you
@mikemat3307 Re: "Really? The MBS market froze because sellers were not willing to accept the buyer's prices, not because there were no buyers."
The TARP program was supposed to buy the assets because there was no market for them. Then some hedge funds started to make low ball offers at a price that the banks could not accept (or they would go under). The fed's could not determine a fair value, so they quickly dropped that plan as did the exchanges since one CDO did not look like the next.
Great zinger at the end.
@TheAdarkon
Paul has a better grasp of sound economics than any of the Keynesians in Washington. Many of the same banks that were bailed out, make up the Federal Reserve and worked in tandem with the Fed to create the bubble and eventual crash. Rapidly increasing the monetary supply, lowering interest rates without correlation to savings. Injecting cheap credit into the system, causing a bidding war for commodities in specific sectors, that leads to substantial inflation across the market.
@gilbet When the media started picking on Wachovia every day, asking "Will it fail? Will it fail?", which threatened to cause a run on that bank too, just like it did with Washington Mutual, the President and Congress were smart enough to see it was time to put a stop to it, before it turned into an avalanche of failures that would have taken all the banks down.
People are told their money is insured, but that's not the same as having continual access, so most people will just take it out.
Can you post a video of how we can fight back as a nation?
Information, it's all we need
Great video!! Thanks!!
@madhatter0110 Really? So, it's OK with you to allow companies to operate without the fear of bankruptcy, or are you saying the US government should be "allowed" to invest in the stock market, like individual states?
@itsonelouder1
How would this be accomplished? How would we determine bank policies, like interest rates?
this will allow larger corporations to buy and own all aspects of commerce ... and effectively solidifies economic slavery ... every penny you make will be put back into the businesses you work for ... essentially making the worker payout equal zero ... every penny you make will be used to pay off national and personal debt, upkeep basic cost of living and basic creature comforts ... this system was historically called indentured servantry ...
This is amazing.
My problem with TARP is Congress took an equity risk without the equity return. TARP funds were pseudo equity. Instead of taking the equity returns, for ideological reasons (Nationalisation is a rude word) Congress took a bond return. This makes the TARP a free gift for the banks receiving it.
Had it been some equity issue then the bank bailouts avoid political fallout - its not free money, and Treasury would have made a profit on the deal while saving the economy.
@DillonDee1 That wasn't my question. But since you bring it up...I don't think there should be any corporate or business taxes. Business taxes ultimately get passed on to the consumer. But if there is going to be a corporate tax, then ALL businesses should pay the SAME tax.
I think Exxon pays about 12.5 % instead of the 35%. Verizon has a negative tax rate. I wonder what GE's tax rate is?
@henleythecat The recession of 1922 is the better example than the Great Depression. The Great Depression occurred because of Fed policy. In 1922, the system left alone purged of the bad elements, and the recession was short. Now there's no purging, INCLUDING A PURGING OF THE BAD POLITICAL ELEMENTS. The same bad elements are in place continuing to do what they've been doing. The economy IS horrible right now. The bailouts simply put off the inevitable and will make it worse. That is predictable.
Love it! Thanks... it is going on my wall...
The global debt issue is better than any X Factor show .The FINAL will be GLOBAL!
@maleki9 The Gov does not offer 'loans' to banks. The Federal Reserve stands ready to loan any amount of money those banks want. The Gov 'did' purchase equity in banks so that the banks would have enough reserves to make new loans (fractional reserve banking = the banks can only borrow/lend based on a multiple of their reserves). The hope was that the bank's resulting increased reserves would enable them to then start lending again with money borrowed from the Federal Reserve.
"What about the Goldman-Sachs? Did they buy another bank?" "No." "Why not?" "Because when you already own the U.S. government, you don't need to buy another bank."
@rfalfonse But we are hard at work maintaining the smoke screen so do not worry.
You are not alone.
This is perfectly explained
this really kicks ass
I totally agree with you kaykko
@Ralphdraw3, explain again how that caused the housing bubble.
bravo!
clear as a bell
Yeah, I'm against bailouts too. As long as we don't have to bail them out, then they can make as much money as they want.
What about the Larry Summers. They did not mention the Larry Summers. And I want to hear more about the Hank Paulson.
@kingcherub my guess is they were: Paul Krugman, Michael Hudson, and Joseph Stiglitz
Why is profit privatized, but loss is socialized?
excellent
@itachi705 Apples and oranges. The 1921 recession was due to a surge in the labor force returning from WWI. We had to convert from war time production to peace time production. This was NOTHING like the Great Depression.
the bulk of their toxic assets were MBS(mortgage backed securities) that got rated as AAA through some back room deals.