When Soviet Union collapsed, my parents and all other Eastern European had all their money on savings account all their life savings. When hyperinflation hit the country, all of their accounts were frozen, no money was given out and everyone lost all of their life savings. It was given out when a lighter was now more expensive than a car. This is how all Eastern Europeans became broke in 1990s and until now many people keep their savings in 6 different banks, some offshore, avoiding loans and debt or keeping money under the mattress… Ironically everyone who wanted to be a millionaire, they all achieved that goal! They got me a Nintendo for $50 Million Rubles I remember.
@iqbalmatondang9 ай бұрын
Most Asian third-world countries also experienced this in the 1990s. The bank closed, and they converted your dollars into worthless currency. You're better off putting money (dollars) under the mattress. I've never trusted banks and have always diversified my assets.
@ДимитърБахчеванов8 ай бұрын
My grandfather had enough money saved to buy an apartment before the fall of the regime. They had enough to buy a washing machine after.
@imagoodlistener27308 ай бұрын
Same as SA in 1994 and Greece in 2008. $80 a day. Sex you and the leaderships bs.
@TheAed388 ай бұрын
Sounds like a Bitcoin advertisement to me.
@Lssjg7026 ай бұрын
Even if you had it in a mattress it would be worthless hence Venezuela. Gold and bitcoin is the way
@williamblackburn31311 ай бұрын
I learned this in like 2015. I’ve educated myself little more since then. But I saved a little money to purchase a car. Went to my bank (local credit union) and requested to take 11k out . They told me no. I was freaking pissed. Eventually a manager came out and allowed me to take the money out , but I was dumbfounded they even told me no to begin with.
@GeorgeGeo11 ай бұрын
Yeah.. banks are a mega corp and need to make money - which is fucking retarded
@xmathmanx11 ай бұрын
People are supposed to just,give you money when you ask for it?
@mehoyminoy132611 ай бұрын
Went to take out a home loan with high credit and a 10% payment for 200k house. I was told no I dont earn enough meanwhile my rent is higher than the mortgage. It’s messed up.
@highginx11 ай бұрын
Do you use a credit union? If not I believe they are a little more generous than "for profit" banks
@DermalDeviations11 ай бұрын
When it's his money, in their safe.. Yeah, of course
@Lorenzconnok11 ай бұрын
I talked to my coworkers a month ago, bringing up almost every point Dave brought up + how income tax was introduced. People looked at me on the call like I was speaking Swahili... I think the financial system is so unbelievably corrupted people simply don't believe it when you tell them. They think you don't know what you're talking about, its extremely frustrating.
@breezy_trades11 ай бұрын
A lion doesn’t concern itself with the opinion of sheep. You can’t help everyone. Focus on who will listen.
@cutlusdeloy710011 ай бұрын
A wise man can see knowledge clearly, and unintelligent man says they know knowledge but can not say
@gorkyd791211 ай бұрын
You need new friends. Literally no man I talk to doesn't understand this stuff. The problem is we can do nothing about it at the moment.
@tylerdavies181911 ай бұрын
Position yourself to take advantage, use people’s nativity to your own advantage and let them cry poor to you later
@afrikasmith104911 ай бұрын
People in general are just oblivious. I keep telling people that we are paying too much in taxes and that our lives would be a little better if we cut our government and lower taxes for landlords, builders and maintenance. That way there will be more competition and rent will cost less than 1000 or 2000 a month. But most people don't take this seriously or just don't want to talk about it at all.
@salmalaachiri739711 ай бұрын
I'd like to see joe rogan put on more of this kind of content (economics, banking system, current prices, inflation...etc) the world is too expensive right now, and it would be nice to talk and educate people about it
@OpalSound10 ай бұрын
More loony reichwingers that have no idea how currency is created?
@isaacmckinney109810 ай бұрын
No one walks up to a teller anymore? Reality check my guy
@misled784710 ай бұрын
@@harrym9655its not price gouging if they have to spend much more on everything including employing a lot or people
@wightclaudia10 ай бұрын
yeah what better way to learn about serious topics than from an alchie comedian with a Wikipedia education
@alainouellet779410 ай бұрын
Joe Rogan for economics and financial advice and education LOLLL
@bioshazard10 ай бұрын
Fractional reserve banking: your deposit in a bank is an unsecured loan to the bank with a joke called "FDIC" to insure that fraud.
@Tom-kl7qs11 ай бұрын
I was a delegate for Ron Paul in the Republican primaries in 2012 so when I hear him brought up it makes me happy.
@mtrest411 ай бұрын
You did good work, sir. I did all I could for him as well knowing full well the establishment, their media propaganda and even his own party was trying to stop him.
@AnthonyGargini11 ай бұрын
You're one of the crazies, huh?
@erikc305711 ай бұрын
I wish Ron could've gotten that 10% flat income tax passed into law. Of course it was never going to get voted in, because it made too much sense!
@mtrest411 ай бұрын
@@erikc3057 Ron Paul's main message was eliminating the control of central banking and fiat money over the people. A minimum IQ is required to even understand that issue. Most fall below that minimum.
@sa476911 ай бұрын
Wasn’t Ron Paul a puppet ?
@TheNewFNShow11 ай бұрын
It is odd that luxury items like TVs and computers and video game systems do get cheaper over time but food and water and things we need to survive get higher and higher.
@skippylippy54711 ай бұрын
There's a LOT more to that than meets the eye. Who controls commodity pricing? (you need to get rid of your gas stoves, you need to travel less, you need to eat bugs instead of meat, you need to use less carbon, you need to move into high density housing in 15 minute cities, your farms produce too much nitrogen, etc etc . you'll own nothing and be happy)
@ricomajestic11 ай бұрын
@@skippylippy547 Commodities are used in electronics and yet electronics still get cheaper!
@jeffwright97624 ай бұрын
@@ricomajesticright but historically the prices were high not due to commodity prices but due to the time and knowledge needed to turn commodities into electronics. That's the area that's getting cheaper
@saturnlizards2 ай бұрын
Agenda 21?
@kevinsommers07044 ай бұрын
What a interesting fkn yr man....the voices has never been so loud. This yr is truly the great awakening
@SillyGoose20243 ай бұрын
No it's not
@kevinsommers07043 ай бұрын
@@SillyGoose2024 speak for yourself
@mondolilith791711 ай бұрын
"The goal of a debt based economy is to not get caught stealing... the only way to not get caught is if the people allow them to go to a cashless system. If they can't go to a cashless system eventually the economy will crash and they will get caught." ~Bill Cooper (around the late 90's)
@mondolilith791711 ай бұрын
@RonSlinker-dt7vr Thanks for the correction Ron!
@makkrowmazztikk700311 ай бұрын
Another reason they want CBDCs.
@mondolilith791711 ай бұрын
@@makkrowmazztikk7003 bingo! They've kicked the can as far down the road as possible... either they're about to get caught... or we're in for several generations of sheer hell!
@matthewhudson568511 ай бұрын
Explains why they are pushing so hard and fast for CBDCs. They know the system is about to fail, so time to switch to another scam, or they go down.
@Jake2311511 ай бұрын
A fellow Bill Cooper fan, glad to see more and more people listen to him
@mnpuck11 ай бұрын
FUN FACT: On March 26, 2020, the 10% and 3% required reserve ratios against net transaction deposits were reduced to 0% for all banks, essentially removing the reserve requirements altogether. It was replaced with Interest on Reserve Balances (IORB), or interest paid on reserves the banks hold as an incentive rather than a requirement -- Rate on Reserve Balances (IORB rate) 5.40% as of 7/27/2023
@TheRealRonRico31711 ай бұрын
Mize well be Japanese that your speaking .
@modernsaver-km5ex11 ай бұрын
And this is why the banks get away with doing it, because 99% of people haven’t a clue whats going on or how to figure it out!
@Unadapted11 ай бұрын
@@TheRealRonRico317that's part of the problem. They don't teach this in public schools.
@Bob-lr2xp11 ай бұрын
What does that mean?
@stardestroyer4411 ай бұрын
@@Bob-lr2xp It means that banks dont have to hold any of your cash. They take it and invest, purchase, and lend it out in order to make returns on money that they don't even own. IORB is what they pay banks to incentivize them to hold cash, just in case.
@travanw8511 ай бұрын
I wish Dave smith would make a book explaining things so everyone could understand. I would immediately buy that book.
@mtzgbl11 ай бұрын
No need. The information is already out there in easy to digest formats. People don't want to learn 🤷🏻♂️
@GoodIdeasDontNeedForce11 ай бұрын
Check out Mises institute. Rothbard wrote probably the most famous book on the subject "what has goverment done with our money" Per Bylund has written newer ones on the subject.
@warcraftnut135411 ай бұрын
Have you heard of the Monster on Jekyll Island?
@benyameenyitzhak103611 ай бұрын
Ron Paul already explained this in a book
@Motoboo_Marine11 ай бұрын
There are a ton of books on the history of money and the significance of the gold standard
@SkyCharter11 ай бұрын
Very well explained... especially the very important fact your bank account holds not your money, but your loan to the bank.
@danjohnson298611 ай бұрын
No one brings up Ron Paul anymore. He was the last great true statesman. Glad he discussed him and the currency issues in detail.
@vlada11 ай бұрын
Joe definitely needs to bring Paul in. I'm not a libertarian but have immense respect for his positions and battles against the political establishment.
@QuanahParker1711 ай бұрын
I worked for Dr. Paul's campaign in 2012. I haven't voted since the Republicans screwed him at the convention. Both political parties are criminal gangs. 2 edges of the same corrupt sword.
@easyegg976011 ай бұрын
@EJGallagher-de8ji I don’t know Tim Pool has been pretty hawkish lately. He doesn’t seem to have the best grasp on US foreign policy over the last 30 years
@HeffewiezenDudeGuy11 ай бұрын
When he was running at the time, they called him too old .....🤦♂️. He's healthier than our current president. He was a doctor, he is fiscally responsible, and wanted to audit the fed. He got screwed.
@TheHakuson11 ай бұрын
This should be a mandatory video everyone has to watch.
@jaf179104 ай бұрын
I think the point is that the only way for this to continue is from most people to not understand this.
@sebastianalegria340111 ай бұрын
I always appreciate these conversations on the Joe's podcast especially, if it's about hyper-inflation that damages the world we're living in. Unfortunately, whatever happens in the belic conflicts can affect our economies as we're immersed into a globalized world.
@jakeroper109611 ай бұрын
The federal reserve will go on and you will like it. Just because you are too lazy to learn something doesn’t mean the USA should suffer.
@davidglenn273911 ай бұрын
Dave! Bang on! I'm sharing this clip with my peeps right now!
@fromdusktodawn50911 ай бұрын
They don’t lend out demand deposits. They are allowed to create 90% of additional credit. Simply means: bank creates a new loan (asset) and new demand deposit (liability). They only need to keep a reserve ratio in line with federal requirements. And even then, they can borrow overnight funds from the repo market to meet reserve requirement. Also, banks take your deposits and invest them into securities to earn interest and pay you a minuscule amount on that amount
@kungpowsesame826011 ай бұрын
dont forget to mention banks could still lose your money and there's nothing you could really do.
@tomcat866211 ай бұрын
That’s why you should only leave as little money as you possibly need in the bank to take care of daily expenses. And you should invest any surplus.
@climatixseuche11 ай бұрын
@@tomcat8662 then you still risk loosing your investment, also if the system crashes and you invested somewhere or into somewhat, there is still no guarantee to get the investment back unless you physical buy idk gold or whatever and keep it in your bunker
@Fighting_Fatigue_11711 ай бұрын
What are securities?
@DarthRambo00711 ай бұрын
@@tomcat8662I have all my money in gold in a safety deposit. It's always going up with silicone demand
@joshspeed779411 ай бұрын
This is the most important discussion on Rogans podcast in a very long time. These truth bombs are essential to waking people from their trances.
@troyrager135211 ай бұрын
So you say you're awake? What are you doing about it all? You still service your debt? Pay your taxes? Vote? Just curious what one who is awake does to correct the issue of blatant corruption while accusing those asleep of being the problem.
@electronichaarp28359 ай бұрын
@troyrager1352 I understand what you’re saying but they’re not wrong, the more people who realize what’s going on the more likely something will be done about it. But on the other hand you’re not really wrong either, I grew up Christian and would always see people in church talk about “spreading the word of God” but never actually go help homeless people (you know, like Jesus himself has been said to have done). So I do think that if someone is “awake” and don’t do anything about the problem, then that honestly makes them worse than the people who are “asleep”.
@Charlie-phlezk11 ай бұрын
The cell phone signal analogy at the end is super awesome please clip that and make it go viral.
@hodgsonnn11 ай бұрын
you do it
@makkrowmazztikk700311 ай бұрын
Clipseption
@MikeStillUK11 ай бұрын
12 minute bitcoin ad, nice 👍🏼
@slayyster11 ай бұрын
NEVER STOP HAVING DAVE SMITH ON. Man is a national treasure
@neelmoudgil496211 ай бұрын
I AINT NEVA GONNA STOP LISTENING TO DAVE SMITH
@rayjimenez330911 ай бұрын
All he does is just complain how bad the US is. Like if the US is so bad then leave to somewhere where it’s utopia
@bobdavidsonm.d.721411 ай бұрын
@@rayjimenez3309 How about trying to change it.
@CantTellYou11 ай бұрын
@@rayjimenez3309 idk if explaining issues is “complaining” but yes he should move to a non-existent place
@rayjimenez330911 ай бұрын
@@CantTellYoumAll he does is highlight every single negative thing about the US. Never heard this guy say anything positive about the country that allows him exercise his 1st amendment rights. No one’s said the US is perfect but bet your ass is the best out there. Was frustrated is that someone who may not be verse in geopolitics will listen to this guys and believe the United State is this big bad evil empire.
@Eddie_00011 ай бұрын
What frustrates me is that we know the system is broken, yet we do nothing to fix it. We just sit around and complain about it. The conversation Joe and Dave are having could have occurred 40 years ago and nothing has changed.
@brent407311 ай бұрын
The govt doesnt want you to fix it, the riots in every major US city in 2020 were for the party that tries to make the system biggger
@nahiag11 ай бұрын
You know that he almost ran for president now. Maybe next time.
@bigcockedman71411 ай бұрын
buy bitcoin and hold in cold reserves
@rotarurazvan306411 ай бұрын
The system is not broken, it works perfectly as intended. That's why it never changes.
@cyberhype549511 ай бұрын
You must realize the big pigs on top DONT want the system to be fixed
@RandytheLatheGuy11 ай бұрын
Damn this guy nailed it! This system is complete BS and we all just buy right into it.
@id10t9811 ай бұрын
a gold standard for any nation's currency is a joke and could never happen again, that's why every nation has deserted it.
@jcthomas146311 ай бұрын
We're really much born into it. The name on your birth certificate is the name of your living corporation. That's why we get taxed heavily. Edit: so when we die, we become a corpse.
@Barabus-yx2cn11 ай бұрын
Not all of us. Only stupid people.
@highplainsdrifter657711 ай бұрын
@@id10t98it kept the govt in check and accountable. Definitely not a joke.
@dougsfriendskeeter11 ай бұрын
@@highplainsdrifter6577oh yeah a lot of checks on the government when they are the ones that took us off that gold standard
@ryanrubio872411 ай бұрын
I tried taking out $800 from a checking account from my previous bank (Old National Bank) and I was declined. I was using this money to purchase a firearm for home/family defense and also to protect myself from this corrupt government. It was almost ironic in a way that this happened.
@rastamoto11 ай бұрын
Did you have 800 dollars?
@scratchpenny11 ай бұрын
@@rastamoto What he's saying is that some financial institutions were denying withdrawals, even when people had the money in their accounts.
@rastamoto11 ай бұрын
@@scratchpenny not that small amount. When you ask to take out 5 figures, I’ve been told I need to order it in. Took a couple of days. Banks aren’t denying $800 bucks.
@scratchpenny11 ай бұрын
@@rastamoto Yes, but Old National Bank has a history of this behavior, having many excuses for denying the withdrawal. Look at their consumer reporting history - it's atrocious. I am not saying there wasn't a legitimate reason for the OP, but it's not as uncommon as people think with some of these shadier banks.
@dister7211 ай бұрын
I am calling bullshit.
@chrisprysok763411 ай бұрын
Same thing with court system. If everyone pleads not guilty it crashes. They need pleas to exist.
@johngalt39406 ай бұрын
Only because it’s operating below capacity. If they hired more judges, and expanded they could account for more cases.
@NVSTRZ3411 ай бұрын
Dave is such a fantastic guest. Always always always listen to the full episodes.
@RTL2L11 ай бұрын
Agree!
@transformerstuff702911 ай бұрын
like Dave, he a good comedian.....but he isnt very smart lmao.
@josurke11 ай бұрын
Agree one of the best
@dougsfriendskeeter11 ай бұрын
Libertarians are the worst
@Senorzilchnzero11 ай бұрын
Whats crazy is that you people are NOT discussing whats really important here. Instead, you people are just chirping "he is a great guest". Nothing will change in this country. Even when the evidence is presented in front of you, you do nothing. You say nothing. Sad.
@mondolilith791711 ай бұрын
"What does the money machine eat? It eats youth, spontaneity, life, beauty, and above all it eats creativity. It eats quality and sh*ts quantity." + "The psychotic is the guy who is just finding out what is going on." ~William S. Burroughs
@headfullofacid808811 ай бұрын
My favorite American author
@CleverGirlAAH11 ай бұрын
AND THAT WAS WRITTEN IN 1966!!!
@mondolilith791711 ай бұрын
@@CleverGirlAAH ... and there's an awful lot of psychotics around these days. The debt based system didn't start until August 15th 1971 when Nixon took the US off the gold standard.
@lynch42o2 ай бұрын
@@CleverGirlAAH nothing going on today is new. look at the hippie era. All this woke crap started then. Every 30 years we fought the anti family progressives back under their rocks. Only now the internet exists, so the weirdos along with billionaire funds, can organize into entities. Pushing propaganda for the globalists 24/7
@Alexyourm11 ай бұрын
Dave Smith is has down one of Joe Rogan’s best guest. So informative.
@jakeroper109611 ай бұрын
He is a smart guy who figured out he can get attention by pointing at complex money and screaming “sCaM”. I literally see nothing wrong with the federal reserve, it’s not impossible for the layman to understand. Please don’t make me exercise my 2nd rights to defend our incredible America from your ideas.
@OpalSound10 ай бұрын
If you appreciate a pile of bullsbit smothered in lies
@Sexyoldgeraldorivera10 ай бұрын
@@jakeroper1096 you dont think anything is wrong with it because it either works in your favour or you can't do maths.
@jakeroper109610 ай бұрын
@@Sexyoldgeraldorivera that must be what people sell you after the line “they don’t want you to know this..” People who hold gold or gold mining shares would make a killing off of the destruction of the FR… I’m confident you’re smart enough to figure out the grift.
@TheItalianoAssassino11 ай бұрын
Joe should get Brandon Herrera on and talk about Washington DC with him
@osmosisjones491211 ай бұрын
Its finally completed:kzbin.info/www/bejne/Z5KkZqqpiM6JbQ'w
@richieschmidt622511 ай бұрын
Yessss Herrera needs to be on JRE asap.
@theonlybenbaker11 ай бұрын
I love Dave Smith. Love when he's on the show!
@bobbys198411 ай бұрын
He’s a cool dude, but man he doesn’t know what he’s talking about
@scroopynooperz905111 ай бұрын
Lol suddenly I'm worried about Dave Smith. He's being critical of all the exact groups it's always dangerous to be critical of 😂
@scottleggejr11 ай бұрын
@@bobbys1984said in the comments of KZbin about a Joe Rogan podcast 😂
@Senorzilchnzero11 ай бұрын
Im surrounded by sheep. Every direction. What is the point of your podcast addiction if you do NOTHING with this knowledge? The amount of passive human beings is unreal. People used to fight for something. Used to stand for something. Now as long as they get their instant gratification daily dose, they dont mind getting fuxed up the as@ by big companies and the government. Unreal.
@JamesLaftonMayle10 ай бұрын
The Bible is truth. To understand this you must do the inner work Jesus Christ taught. It all starts with forgiveness from the heart. Start by finding the grievances we all build up with our parents. They have generally raised fed loved us to some degree. Looking inside, realizing that they are people who make mistakes too, and genuinely forgiving them everything shows an important aspect of your soul to God. Genuinely mean absolute forgiveness inside your heart. This is key. To be forgiven we must forgive. This step teaches you why Jesus Christ is lord, and why you need to break down to him and ask for forgiveness. Afterwards read Genesis, Mathew, and one book of the Bible you chose yourself. These four steps have important spiritual significance and are like milestones within our souls. Please trust me. Genuinely open your heart up to God. It is all true. Jesus Christ is the way truth and life. 😊
@Steveb728111 ай бұрын
Dave smith is one of my favourite guests
@AG-un7dz11 ай бұрын
This whole free market argument is no longer totally true. It used to be that if a company made bad investments or business decisions there was an apparatus to resolve it. They would declare bankruptcy and once liquidated the prefered stockholders would get paid first, then the common stockholders would get anything that was left. Bond holders were left holding the bag. But now we have "to big to fail" and when they get things right they privatize the profits, and when they get things wrong, they socialize the losses. But I agree with the rest of your argument.
@AdamVassGal5 ай бұрын
I think Dave would agree with your completely. We’re not in a free market at all and many of these massive corporations would go out of business if they weren’t in bed with the federal government.
@nateauld11 ай бұрын
So happy to see Dave on again. Need him every few months at least.
@Hardcastle8311 ай бұрын
Why?
@JerseySlayer11 ай бұрын
@@Hardcastle83 Cause
@jdan3511 ай бұрын
People actually like this guy?
@Hardcastle8311 ай бұрын
@@jdan35 I don't think so, there must be some other reason. I'm still confused.
@jpmacunha11 ай бұрын
ga yy
@weignerleigner303711 ай бұрын
The economy is what caused me to rethink my liberal values. For anyone who is open minded I highly suggest learning about Austrian economics. Really puts things into an alternate perspective that as a liberal you can’t really conceptualize.
@BMEULTRAMAGA2411 ай бұрын
It's not going to matter if you believe what a lot of us believe! And have what a lot of us have! FAITH IN YHWH,JESHUA,HOLY SPIRIT! ALL THIS IS A DELUSION OF EVIL.
@zerocool539511 ай бұрын
I was just thinking "After Tim Kennedy, Rogan needs to bring on Dave Smith for a different opinion on Israel and Gaza" Smith and Glenn Greenwald have been on point on this topic.
@aaronkelly303511 ай бұрын
The problem is Dave smith only starts the history of Israel Palestine at 1948 when it goes further back than that
@ModeratelyAmused11 ай бұрын
Dave dropped the ball at one point. Joe wanted more information on the West Bank. Dave gave next to nothing. There are plenty of viral videos of what is going on in the West Bank that completely makes Tim Kennedy's argument against Palestinians look either ignorant or just plain dumb. Armed Zionist illegal settlers and illegally occupying Israeli troops are literally terrorizing unarmed natives of the West Bank. There is no armed militia resistance in the West Bank for Israel to play the "defense" card.
@andrewdishman2611 ай бұрын
No they haven't because they've given no solution for Israel to protect itself in the future, and a ceasefire would only allow Hamas to reestablish themselves again and commit more attacks for which they've already vowed they'll do. You can argue all you want who's land was who's, but that doesn't give anyone the right to massacre innocent civilians 70 years later. You can say Israel has killed Palestinians too, but it's pretty easy to see that one side kills deliberately and target's civilians while the other sides deaths are casualties of war. Israel doesn't attack unless first attacked upon first. They give warning to Palestinians before they bomb. It's not their fault Hamas, the elected leadership group hides its weapons and HQ in heavily populated areas and then puts its citizens in front of them as human shields. By the way, one thing that wasn't brought up in this interview is that 70% of Palestinians polled supported the attack on Jews on October 7th. So if your going to suggest Palestinians are innocent peace loving people that poll proves otherwise.
@grizzly311tr11 ай бұрын
problem is you care about the mandates of the defunct ottoman empire. losing wars has consequences@@aaronkelly3035
@bob-zo7rp11 ай бұрын
dave thinks hes smart but knows nothing
@VincentAgueda-f3s10 ай бұрын
dave smith is my guy finally someone who thinks just like me. i thought i was an idiot for so many years. id bring up stuff like this back in like 2010 to people and they called me the crazy one, i was the bad guy for even thinking stuff like this. now its all coming out
@jopo799611 ай бұрын
Dave "The establishment extracting money from people is just the tip of the spear." Joe "Have you seen an orangutan fishing with a spear?" Dave "What? No. I just meant...." Joe "Jamie, pull up the spearfishing orangutan for Dave, please."
@coryryder907011 ай бұрын
george carlin our owners
@osmosisjones491211 ай бұрын
Its finally completed:kzbin.info/www/bejne/Z5KkZqqpiM6Jbdk
Dave "No, but I saw a polar bear fishing with an iceberg"
@coryryder907011 ай бұрын
bonivista newfoundland peter pan new movie i watched seals use iceburgs as slides :P and dad one time used beer can string and stick moas call mateing season we rushed in truck and that thing came at truck so hard almost flipped it thankfully that was when i was getting sand for sand boxes baby cubs played in week or two after@@mcpozzm6321
@markm837511 ай бұрын
Dave Smith episodes are the best. It always seems the most level headed individuals with collective interest in mind, would never become politicians.
@bobbys198411 ай бұрын
Dave talks about things with such conviction but is incorrect about 90% of what he says😊
@fordprefect731611 ай бұрын
@bobbys1984 so is Joe... Reindeer eating yellow snow to get mushroom metabolites from shamens was my favorite.
@Tyler-hh8jx11 ай бұрын
disagree, Joe Rogan all episodes are the best. Dave smith claimed NO americans are pro putin, he should know better than to say that lol, joe corrected him with the MMA traitor being pro putin.... dave shouldve known this, and also steven seagal is pro putin... ;/
@spicymustardhotdogs11 ай бұрын
You think the best JRE's are with Dave Smith. The best are Protect our Parks. Dave Smith is bottom 5 imo.
@corrob11 ай бұрын
@@spicymustardhotdogs its all objective, some like political/science/world view talk, others like drunken comedic rowdiness, i enjoy both.
@victoriaman11711 ай бұрын
Dave Smith dropping knowledge as always!!!
@osmosisjones491211 ай бұрын
Its finally completed:kzbin.info/www/bejne/Z5KkZqqpiM6Jbdk
@Rakanishu211 ай бұрын
conservatives pretending to care about the size of government when their guy isn't in office.
@Arthur-Silva11 ай бұрын
He’s Knowledgeable if you’re a child. This libertarian nonsense sounds good to naive, uninformed people. 😂 laughable.
@mitchmoe622411 ай бұрын
@Arthur-Silva The problem is, most kids are graduating high-school without knowing how our money supply works.
@datvo307611 ай бұрын
@@Arthur-SilvaI know right. Listening to this guy talking about Nixon taking off gold standard, make me want to jump off a cliff. Also, this guy has no idea how fractional banking reserve is the single greatest wealth creation system imaginable. This libertarian bs only feels good to any one that’s illiterate.
@28copland8 ай бұрын
This guy is one of my favorites on Joe's podcast
@brandonb507511 ай бұрын
Nice Splaining Dave: Trading Places is the most realistic Christmas/Wall Street movie imo!✌🏼😊🇺🇸
@pundayreplay11 ай бұрын
Bitcoin fixes this
@GlobalRevolution4All11 ай бұрын
This is my favorite guy on JRE every single time he is on
@Hummingbird2511 ай бұрын
Dave’s conversation about the Israel Palestine conflict and the history of the Nakba wasn’t uploaded to KZbin. I really wish it had
@nocapitals983311 ай бұрын
funny how i been learning about this for over a decade and everyone pretends like it doesn't exist until some big shows this
@skippylippy54711 ай бұрын
Then you didn't carefully observe what just happened to "everyone" in the past 3 years of the so-called pandemic? Here's what I observed: People did exactly what they were told to do. They gave up all their Constitutional rights and allowed this government to strip away every freedom they ever had. They allowed their schools to be shut down. They allowed their churches to be shut down. They allowed their businesses to be shut down. Then "everyone" got exactly as afraid as the government propaganda told them to get. Then, like sheep to the slaughter house, they lined up and took their "jabs". Were you paying attention?
@CleverGirlAAH11 ай бұрын
See the importance of controlled media??
@krellin11 ай бұрын
the fact that almost every adult knows these things and nothing changes is what is scary...
@290revolver29011 ай бұрын
💯
@fourvetperrie45711 ай бұрын
Exactly shows how much the rich control everything
@larrybuckner861911 ай бұрын
I agree! The only thing that I know to do is to keep my money at home and vote republican . Every system is so corrupt I don’t know what else I could possibly do.
@Skateandcreate911 ай бұрын
They all think one day they will become part of the wealthy so they just go along with it and try to play the game like the rest who sold their souls
@undefinedvariable808511 ай бұрын
I'd wager that 9 out of 10 adults have no knowledge or understanding of any of this.
@ronburgundy426611 ай бұрын
Dave Smith is both fascinating and scary to listen to. God bless him.
@decentralizeddemocracy833511 ай бұрын
Fractional reserve banking system is a superior monetary system, especially compared to the gold standard, for one simple reason: credit is always going to be cheaper in fiat rather than gold. That's why every single country adopted it. Money do not exist for you to store in your mattress, they exist to make investment accessible to everyone. If you want to save go open a savings account.
@darbyohara11 ай бұрын
He’s right on his analysis yet very weak on how to change things. He’s afraid of guns which is a position no libertarian can really have if they want change or to defend their ideas
@DerpyRedneck11 ай бұрын
@@decentralizeddemocracy8335 F-ck off with that lie, because that's exactly what it is, an establishment lie. It's the worst monetary system, Fiat Currencies and Fractional Reserve have the worst track record compared to a multitude of actual monies being exchanged in a non-corporate banking market and continue to have such even after what, 3 or 4 THOUSAND YEARS OF MAKING THEM?!! Nah, the claim it's the best system is the damnedest of lies and it always will be. You just appealed to majority, henceforth, it's not valid, so quit being fallacious. Those who are for freedom of banking call fractional reserve a fraud, the reason is very simple. If you hand a loan out to person A, they use it and start paying you back, plus interest, the moment you make another loan and use person A's debt notes as the currency to loan say 10 times over, you make the purchasing power signal of each dollar sign TEN TIMES WEAKER BY FRACTIONATING IT DOWN TEN TIMES.... "Money do not exist for you to store in your mattress, they exist to make investment accessible to everyone" no, that's empty commie rhetoric, governments wanted more control over stuff, that's why they adopted central banking and fractional reserve. Six core functions of monies are: 1. Mediums of exchange based on commodities and assets 2. Stores of value 3. To make purchases and trades easier 4. Holding reserves for future payments. 5. A standard of deferred payments. 6. RELIABLES UNIT OF ACCOUNTING Monies should exist to be mere mediums of exchange, but we don't have monies, we have CURRENCIES. "If you want to save go open a savings account." is not a valid argument either.
@mr.chimichanga694711 ай бұрын
@@decentralizeddemocracy8335you don’t need credit when your currency has real value. When you aren’t trying centrally plan the economy, prices are allowed to drop and you won’t have to deal with constant rising inflation
@mr.chimichanga694711 ай бұрын
@@darbyoharaare you suggesting a revolution or something?
@ssssuupppp11 ай бұрын
Dave Smith spoke about the history of Palestine in this episode which was conveniently not shown on KZbin in short form. Thanks JRE!
@richardhodge681711 ай бұрын
Look at the charts. Middle Class started shrinking from the moment in ‘71 when we went off the Gold Standard! This guy nails it!!
@18rollinhard11 ай бұрын
Middle class got much worse in 80’s when stock buybacks were legalized, and anti trust laws laxed.
@darbyohara11 ай бұрын
Exactly. It was a wealth transfer initiative to shift money from the middle class to the upper class and ultimately power
@Skateandcreate911 ай бұрын
Imagine being part of families who use all of humanity as cattle for their own wealth. How do they wake up and face the day??
@kworldd11 ай бұрын
it’s sad how greedy and selfish people can be
@Skateandcreate911 ай бұрын
@@kworlddit’s beyond words. It’s the living embodiment and epitome of pure evil.
@kevinkerr931011 ай бұрын
Ask the Sackler family
@Skateandcreate911 ай бұрын
@@kevinkerr9310i would if they weren’t basically ghosts.
@SadBoysCollectiveCirca9611 ай бұрын
imagine being this niave to think its been any different at any other point in history
@NameOptional-p9u11 ай бұрын
Dave Smith does such a great job of accurately reflecting Libertarian principles and logic, in my opinion.
@Is-there_a-ChristianGod11 ай бұрын
What does it matter if no action is put behind the words
@jetorixjones11 ай бұрын
@@Is-there_a-ChristianGodwhat is he supposed to do? He can’t make people vote in their best interests. All he can do is inform people about the truth.
@Is-there_a-ChristianGod11 ай бұрын
@@jetorixjones the ppl is to stoopid as a collective
@lovelife186711 ай бұрын
@@Is-there_a-ChristianGod are you gonna vote for his option? or will you criticize something you feel doesn't exist ? Make it happen.
@Is-there_a-ChristianGod11 ай бұрын
@@lovelife1867 I don’t vote they say the definition of insanity is repeating the same thing over and over again excepting a different result. 3 things I’ve learned In my life time. 1) never seen one president do a damn thing in the interest of the ppl. 2)And anybody that’s for the greater good end up unalived. 3) don’t be offended but if white ppl involved with power. It’s a secret, some agenda, and it never turn out good. This shit is stuck on wash rinse repeat. It sound good.
@matthewrio-botte5317Ай бұрын
The video needs to go viral so it can be seen by the masses...this is such an important issue.. It's a shame people like Dave Smith and Joe Rogan aren't the type of personalities who run this country
@d1want3411 ай бұрын
I always enjoyed Dave Smith as a guest on JRE, he's so great to listen to
@jakeroper109611 ай бұрын
So the USA should miss out on advancement in finances because you and Rogan are too lazy to learn basic economics? Strange times. Russia might have actually destroyed America with memes
@TheGiggleMasterP11 ай бұрын
This guy is describing how a Corporate Oligarchy works, and we're being drained dry by it. 😢
@daltonbrasier549111 ай бұрын
Nope, just how explaining the reality of the state.
@johncampanella62211 ай бұрын
No this is the government. The corporations are benefactors. The state creates and maintains this secret monopoly. The state owns the money supply and the interest rates. There is no free market.
@defertyx11 ай бұрын
And the government is part of the corporation
@MrNiceGuy50011 ай бұрын
Egregious non compete clauses as well!
@corrob11 ай бұрын
@@daltonbrasier5491 sure large corporations built our nation, and it was great, until they became larger than the state, sent the factories off shore, taking away jobs for the middle class, and started paying, or promising elected officials jobs once they were out of office, as long as they voted for whatever helped said corporation, at that point, it no longer helps the people, only the Govt. which creates a corporatocracy. funded mainly whithin the war machine, which is not good for the nation as a whole, but that is the reality of the state.
@Solidfreeman0111 ай бұрын
Smith is the best guy! Very much respect! He knows his stuff!
@Senorzilchnzero11 ай бұрын
Whats the point of knowing stuff if you dont do anything with it? US government is fuxing its citizens up the as# and we keep taking it over and over again and afterwards we go "wow, i learned so much". unreal
@btrasbt11 ай бұрын
Almost correct. Since covid, there is a 0% reserve requirement. They have done away with the fractional reserve system.
@HughJass-jv2lt4 ай бұрын
😂😂 No
@btrasbt4 ай бұрын
@HughJass-jv2lt literally google, "what is the reserve requirement for banks"
@anonymoustoo494511 ай бұрын
this guy summed it up nicely! friends and family dont believe me when i tell them “saving” their money is an awful idea, your dollar is being devalued so much, so fast, the laymen has no idea
@Aluttuh11 ай бұрын
Depressing… we need to flip the tables like germany did, but look how the banks painted that one…
@SogonD.Zunatsu11 ай бұрын
@@AluttuhHello, based department?
@TheJeremyKentBGross11 ай бұрын
@@AluttuhTo the degree I have skepticism about the dubbya dubbya two narrative, that's exactly what I sorta suspect, given that the Allies supposedly secretly made up money from nothing for part one when nobody would buy war bonds or wanted to go fight. Then after killing millions of (often their own) people needlessly in trenches, they dumped the debt for all the made up money on Charles Chapins peeps, which they only paid off in the last decade a century later. They are still paying off part 2 though I hear. Maybe that takes a century too. Slavery indeed.
@anonymoustoo494511 ай бұрын
@@TheJeremyKentBGross that is all imteresting … what ive learned the last 8 years or so is all money is fake, esp now because it is backed by nothing. fiat = fake … i have spent the last two years buying crypto (BTC is def a safe long play) … if you have some cash and want to get rich in 2024-25 .. invest in crypto gaming! my source: trust me bro …. and the thousands of hours i have done in research
@mccoybyz109911 ай бұрын
I gotta say I've been really impressed by Dave from watching him on these podcasts!
@EEZYEEEE11 ай бұрын
The worst part about it is that it’s just getting worse even though we know that we’re getting screwed
@AustinCarpenter-h8f8 ай бұрын
Can you please invite Walter Block on to discuss this further??? He’s professor of economics at Loyola University!
@max_lowtide11 ай бұрын
Finally an adult in the room
@BanksOwnUs11 ай бұрын
Dave Smith is always an AWESOME guest. Love the episodes with him.
@pamukpicker11 ай бұрын
My favourite episodes, the man knows how to explain things in a way that everyone can understand and he does it in such a humorous way
@jedimind_7911 ай бұрын
100% Dave is by far my favorite guest Joe has on regularly.
@odochartaighofodonegal235111 ай бұрын
Wish I had a neighbor like him
@CantTellYou11 ай бұрын
@@odochartaighofodonegal2351 He was my neighbor in 2004. All he did was smoke blunts on the stoop with some Louis guy
@HarryManback011 ай бұрын
This guy has no idea what he's talking about 95% of the time. He thinks he's way more intelligent than he is.
@holker_11 ай бұрын
That 10% reserve requirement was eliminated with Covid and hasn’t come back. There is currently NO reserve requirement for banks to operate in the US.
@69pepe42011 ай бұрын
BUY BITCOIN BROTHER
@sup844711 ай бұрын
exactly, so he kinda needs to catch up to open his big mouth, because he is several years behind. sounds like JR is bought out and is running propaganda for all the economically illiterate.
@TheMidnightModder11 ай бұрын
What does that mean though?
@sup844711 ай бұрын
@@TheMidnightModder well means when the banks fail, FDIC can't, isn't, won't, not possible to cover your little bank losses. So everyone is gonna be super F@CKED.
@warrenb285611 ай бұрын
Learn about bitcoin first. Those 75% draw-downs are not easy. HODL on Brother!@@69pepe420
@Oliviathe17thАй бұрын
Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm now thinking of ways to protect my portfolio worth of $800k from crisis
@CadeCowell-ft4feАй бұрын
Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.
@MalikTillman-dy2qpАй бұрын
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
@Lynn-jw9kfАй бұрын
I could really use the expertise of this advsors
@MalikTillman-dy2qpАй бұрын
Her name is ‘Jennifer Leigh Hickman’. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@NateknightyАй бұрын
Wow, her track record looks really good from what I found online.i just filled the form and scheduled for a call. Thanks to you
@danram148911 ай бұрын
This topic needs to be talked about more!! We do not have fractional reserve anymore it’s a zero reserve system now
@blank795810 ай бұрын
Why do you think everyone is investing in bitcoin. The bankers know that this can’t go on forever. They’re the ones buying bitcoin. The average Joe is the one listening to the media which is telling them Bitcoin is tulip mania.
@billbobby46111 ай бұрын
Tried to explain this to someone one time and we nearly came to blows. In a cash only society if I have 1000 in my pocket I can buy with the confidence of that 1000 behind me. I.e spending 100 not worrying about it. But if I have that 1000 in the bank as bank credit, I still feel like I have 1000 dollars behind me and the bank actually has it spent already! Effectively atleast doubling the feeling of value for the same 1000. It's crazy, and explains exactly why every government wants us to go cashless.
@id10t9811 ай бұрын
Do you like driving on paved roads? What about having clean water and working sewer systems, do you like those too? When it snows, do you like plows to clear the roads? Well, fractional reserve lending is what makes it possible. If you dont like those things, feel free to stop using them and go live off the grid somewhere.
@brosephbroheim642811 ай бұрын
Crazier yet is that we will be asking to go cashless in response to hyperinflation caused by those who will wholly control the next currency.
@jameswalker59011 ай бұрын
@@id10t98 Please elaborate. If Nixon took us off of the gold standard, are you saying we didn't have any of those things before he did that (before fractional reserve banking?)
@pooga524811 ай бұрын
@@id10t98you can stick fractional reserves lending up your ar5e. It works for certain people, not all. There is definitely a more fair system out there, but the elite like what they have.
@mandyp232011 ай бұрын
@@id10t98What does your comment have to do with the OP?
@Jackaroo.11 ай бұрын
There has never been a single fiat currency in history to survive long term. Ever.
@skippylippy54711 ай бұрын
Jackaroo. True. So what are you investing in these days besides gold and silver?
@ifyoudisagreeyouarewrong11 ай бұрын
literally everything is fiat because something is only worth what someone else is willing to pay for it... Moron.
@mediaisthevirus11 ай бұрын
Everystein singleberg timeowitz
@RJTradess4 ай бұрын
@@mediaisthevirusain’t that the truth
@timhowell69299 ай бұрын
Joe and Dave really hit the nail on the head, I have never bought into the modern money theory and certainly never believe any company is too big to fail.
@fuski2311 ай бұрын
10:32 It's zero, banking reserve requirements are 0%. Been that way since March 2020.
Good job Dave. When you deposit money at a bank, you receive that particular bank's credits in your account for use in the larger banking ledger system. It's all just digits on an assets/liabilities ledger swapped and balanced between banks.
@thephilosopher717311 ай бұрын
So basically when we put our money into the bank, its no different that buying a Starbucks Membership Card. Its no wonder ColdFusion on youtube came out with that video on Starbucks being in the financial market now lol.
@karthikc32611 ай бұрын
Wow. Such a revelation. Fractional banking explained so beautifully.
@ricecrash52254 ай бұрын
This conversation needs to go viral. This is 💯 whats happening and people are oblivious.
@MrDankDro11 ай бұрын
Jokes on my bank because I've lived paycheck to paycheck so long they usually only have a couple hundred dollars of mine to loan out at any given time lol And when I get money to save I buy gold and silver to put in a safe of my own.
@btcberg361511 ай бұрын
#Bitcoin fixes this
@mikepalmer197111 ай бұрын
They make money every time you use your atm/debit card to make up for it. Same for me bud.
@anonony908111 ай бұрын
His math on the 10% reserve ratio was actually wrong. If you give them $100 they can create $900 and loan that out and your $100 becomes the 10% in reserve. It's absolutely insane
@skippylippy54711 ай бұрын
It works out both ways regardless - they simply need to keep 10% in reserve. Stop splitting hairs. But we know they cheat this system as well. They don't always keep 10% in reserve. Banks are organized crime supported by government - supported by the military which is the strong arm of the government-banking crime syndicate.
@JH-rk9gd11 ай бұрын
The reserves now are 6% but there is no limit on printing money, under Regan they held money printing to 4% a year but then Clinton argued that’s discrimination against people with poor credit and rest is history
@viralsheddingzombie532411 ай бұрын
FRB does not create money, it creates debt, promissory notes.
@skippylippy54711 ай бұрын
@@viralsheddingzombie5324 It's the same thing. You're just quibbling over nouns. Every time the FRB starts up the printing press it does all of that.
@viralsheddingzombie532411 ай бұрын
@@skippylippy547 I was referring to Fractional Reserve Banking. The actual printing of fiat currency is different than reserve requirements.
@k.k829111 ай бұрын
Dave Smith is probably Joe's best recurring guest.
@kevynlemoing820811 ай бұрын
Him or Duncan Trussell.
@OscarOffTheCuff11 ай бұрын
@@kevynlemoing8208no
@cspdx1111 ай бұрын
100%
@Squibtorious11 ай бұрын
To each their own, but he's one of the most aggressively ignorant guests to ever go on JRE. Each time. But again, to each their own 👍🏼
@bobbys198411 ай бұрын
@@Squibtoriousyea he says things with such conviction but isn’t right about 90% of it
@jlrgmedia241810 ай бұрын
This video teaches you about the economy than any other college book out there, re-watch this video 100 times and show it to your kids, friends and family. Buy Bitcoin folks, fiat currency is a government owned scam.
@mattjamesofc11 ай бұрын
Dave on JRE always makes me feel like someone out there understands my political beliefs
@bryceandcarter613911 ай бұрын
Yup, Dave is what 80% of the countries political beliefs ACTUALLY are
@SeiyaSoiya-un4jj11 ай бұрын
You’re not alone, brother. Makes my whole week when he’s on JRE.
@cristianproust11 ай бұрын
His interpretation is silly. Nothing of what he said is secret and are the rules of the game for a long time now. The participation in the system is voluntary. If someone does not like it, they can renounce their citizenship and leave. The system is a group of people who get together and decide to cooperate with some rules in a certain territory. Each territory (country) has their own rules, and the territories without sovereignty have no rules (as living in a platform in the middle of the ocean). All is voluntary
@peepeepoopoo274911 ай бұрын
@@cristianproust This is a silly interpretation. He’s not saying it’s secret, he’s saying that people aren’t aware of what’s actually happening to their money. It’s a confusing system, but it’s confusing by design. It’s not voluntary if you aren’t aware of what’s happening and are met with forced compliance if you do. You never countered any of his points, and just babbled off nonsense that isn’t even true. This “territory” was made and founded to make and insure all these insidious acts were punished and held accountable for. This is all entirely involuntary by definition
@cristianproust11 ай бұрын
@@peepeepoopoo2749 Saying is not secret it means that is public, and that if people don't understand it is because they don't like to learn anything. It is not confusing, it is pretty easy to understand, you just heard it in a video. The problem as usual: laziness. People retain in their memory the explanation of when they were 10 years old of what a bank is. The indignation should be self-addressed, because most adults don't really care about learning anything and just complain about not knowing. All this I heard it in school (most people don't remember because they were not paying attention), and if anybody is curious there is the Internet. It is pretty silly that people's ignorance is portraited as someone else's fault but theirs
@lakersraiders80511 ай бұрын
The bank is actually borrowing the money from you. Never thought of it that way. Dave is great!
@skippylippy54711 ай бұрын
Lakers - When you put money in a bank you are essentially giving them an unsecured load. (read: UNsecured) That means the bank pays everyone else first. YOU get paid LAST. Spend some time thinking about that.
@brusselsprout585111 ай бұрын
Not only from us but from our/the future.
@ihatecrackhead11 ай бұрын
debt is money, that's how the dollar has it's value BIDEN printed 24% of the entire economy and only got a 5% GAIN on GDP the 5% doesn't even count because they stopped counting gas, energy, food and rent in the CPI inflation rate which is subtracted from gains(deflator) so paying more for eggs doesn't show up as growth. they are using core inflation as the deflator.
@stephensmith659911 ай бұрын
@@skippylippy547 From the FDIC "By law, after insured depositors are paid, uninsured depositors are paid next, followed by general creditors and then stockholders. In most cases, general creditors and stockholders realize little or no recovery. " Depositors get paid first.
@automateeverything234111 ай бұрын
banks don't need your money, its just cheaper for them the loan it out. Banks can extend as much credit as they want. If they believe a loan will be profitable, they will issue credit.
@ovoj11 ай бұрын
Loud it! Thank you for saying this and putting this information out there. Hopefully people listen and start to wake up
@taylor9434 ай бұрын
Finally, we have reached the heart of the problem
@jonatho8511 ай бұрын
It is a wonderful life that he was thinking about. It’s about fractional banking. Kind of a cool part of the movie that it talks about more than you think.
@Anand202411 ай бұрын
3:41 The removal of gold standard was a mistake It should be bought back
@eam180911 ай бұрын
It was certainly wrong, but I wouldn't grant them the undue courtesy of terming it as a "mistake". That implies an action made in good faith, which ultimately resulted in unintended unforseen negative consequences. In no way does that accurately describe the removal of the Gold Standard.
@Cobra2004Silver11 ай бұрын
Bitcoin is better than gold.
@Cobra2004Silver11 ай бұрын
@@gyrate98 what is your solution to the problem of debasement of currency? Status quo? That's not working well for society as a whole.
@Cobra2004Silver11 ай бұрын
@@gyrate98 this is the definition of deflation. Prices fall as technology increases. Deflation is good because it means your money gains purchasing power over time. Deflationary busts caused by money printing is the kind of deflation I think you were initially referring to.
@matthewbiondic446511 ай бұрын
10:36 Dave explains layering. Layering is what bankers call fraud but banks simply call "doing business". Funny how that works.
@stephensmith659911 ай бұрын
That is not layering. Layering is used for money laundering. "The goal of layering is to make the process of tracking money through each layer more difficult to accomplish. Layering can include changing the nature of the assets, i.e. cash, gold, casino chips, real-estate, etc. Complex layering schemes involve sending the money around the globe using a series of transactions."
@matthewbiondic446511 ай бұрын
So, layering then.
@stephensmith659911 ай бұрын
@@matthewbiondic4465 Nope, not layering.
@HughJass-jv2lt4 ай бұрын
@@matthewbiondic4465 😂 Exactly!
@MarkVirgulto6 ай бұрын
As a Middle class citizen who lives in Fairfield county, Connecticut, one of the wealthiest in the country, It's almost bizarre how there is so much money here. There aren't any big companies here, no big attractions, just suburbs with many expensive and beautiful houses. You hardly see the working class. Everyone is making their money in the city.
@jordanzenk280311 ай бұрын
The "Federal Reserve" is not "federal" a government entity nor is it a "reserve" it doesn't hold gold or anything to back its currency. The key term Dave does not mention is "inflation tax" The public suffers so few can benefit.
@nichtsistkostenlos656511 ай бұрын
It absolutely is a Federal government entity. The entire board of the Federal Reserve is appointed by the President and approved by Congress, and they have a government enforced monopoly on the creation and distribution of currency. The Federal Reserve is not private in any meaningful way and a political institution through and through.
@skippylippy54711 ай бұрын
True. Good point Jordan. I wish more people understood this.
@anthonymorris889111 ай бұрын
Right after the whole SVB thing the bank my wife works at had them asking anyone withdrawing $1,000 or more why, and then calling a manager or banker over to talk to them. It was ridiculous because it wasn't my wife's policy but she was then one getting screamed at. I don't know if it's still that way. She hasn't said anything about it in a while, but it was rough for her to be at work.
@breezy_trades11 ай бұрын
Image trying to withdraw 5 or 10k. I about had to fight the manager in my bank to get my money.
@ryankelly639211 ай бұрын
My bank has froze my account three times because I was buying crypto, I've had to go through the fraud department told them if it happens again I'll be closing all accounts with them
@anthonymorris889111 ай бұрын
@@ryankelly6392 Ahh yes, the fraud department. The same department that decided to block my card from buying lunch where I work but allowed the card my wife reported as lost, and was told was deactivated, to be used at a gas station at the state line. They're about as useful as the gooberments 3 letter organizations.
@JamesLaftonMayle10 ай бұрын
The Bible is truth. To understand this you must do the inner work Jesus Christ taught. It all starts with forgiveness from the heart. Start by finding the grievances we all build up with our parents. They have generally raised fed loved us to some degree. Looking inside, realizing that they are people who make mistakes too, and genuinely forgiving them everything shows an important aspect of your soul to God. Genuinely mean absolute forgiveness inside your heart. This is key. To be forgiven we must forgive. This step teaches you why Jesus Christ is lord, and why you need to break down to him and ask for forgiveness. Afterwards read Genesis, Mathew, and one book of the Bible you chose yourself. These four steps have important spiritual significance and are like milestones within our souls. Please trust me. Genuinely open your heart up to God. It is all true. Jesus Christ is the way truth and life. 😊
@cpat706511 ай бұрын
Dave Smith is such a great guest.
@Khaos-y7n11 ай бұрын
He's good at explaining the problem but no solutions. We need a new type of currency that these globalist politicians and bankers can't control, track or counterfeit. The distributed general ledger blockchain model for example would be a good alternative.
@headspaceandtiming211410 ай бұрын
“A house of cards”. Spot on. Storms coming. And you can say “oh, they been saying that for years” yes they have and the storm always hits.
@notyouraveragejoe486511 ай бұрын
Took nearly 30 minutes and a bunch of overrides to take 6k out of the bank today. Gets worse and worse each time you try to take money out
@_sherif__11 ай бұрын
Man speaking facts!
@adamdudley873611 ай бұрын
The dude has been saying the same nonsense libertarian talking points for years.. you would of thought that he would have figured out that libertarianism is kinda illogical by now
@chrimony11 ай бұрын
@@adamdudley8736 Fact free diagnosis on your part. What did he say that was nonsense?
@Recraw711 ай бұрын
almost all of it @@chrimony
@blexaarron11 ай бұрын
@@chrimony don’t ask them that. They can never articulate what they don’t like. They either won’t respond or will reply with “all of it”.
@busTedOaS11 ай бұрын
@@adamdudley8736the fractional reserve system has been that way for decades. why would you expect him to suddenly change his narrative?
@t3knoman0011 ай бұрын
FINALLLLLY. It is not said enough inflation is a tax ON EVERYONE. Remember noone complained about the fun coupon checks for nearly a year and then shocked and puzzled by why everything is more expensive a year later
@keithmoore132911 ай бұрын
Inflation…an invisible tax none of us get to vote on. 👍
@ricomajestic11 ай бұрын
That wasn't even the primary cause of inflation! You think a one time 1000 dollar check is going to cause inflation for yeras! LOL! Get serious! Most people used that money to pay their bills and it went away.
@singular94 ай бұрын
That isn't how fractional banking works. The truth is waaaay worse. Here is why: You give the bank 100$, they now have the "right" to lend out 1000$ (10x). Yeah... let that sink in.
@Schmootzidootz3 ай бұрын
Its way worse...you give the bank 100 dollars and they can lend out infinite dollars...march 2020 they eliminated the 10% reserve requirement
@brushstroke373311 ай бұрын
Also, 99% of the value of transactions are in digital swaps, not exchange of cash. In other words, most money exists as a record in a digital ledger, amd maybe only 1% of the cumulative wealth is represented by cash, which itself is just faith-based paper. It's nice that a small percentage of people are aware we've been hoodwinked by government and banks, but we're unlikely to raise enough awareness to stop or undo the damage and theft.
@josh-kf2rd11 ай бұрын
most US money is created as debt. The scary thing is they're creating the principal and not the interest.
@skippylippy54711 ай бұрын
Actually Josh, the Federal Reserve charges the U.S. interest on every dollar they print. The Fed creates the interest rate. ALL US money - repeat ALL - is entirely controlled by the Fed. The Fed is a PRIVATE corporation. Since this Fiat Currency is based upon NOTHING, it worth NOTHING. The US dollar is no longer the "World Reserve Currency" which used to be based upon global petroleum commerce.
@tommyeschung11 ай бұрын
We are creating the interwst
@josh-kf2rd11 ай бұрын
@@tommyeschung how?
@keithmoore132911 ай бұрын
As Jeff Booth (a dude who should totally be on JRE) says, technology is deflationary.
@markanthony249511 ай бұрын
Specifically it is price deflationary. Not monetary deflationary. Its really confusing when people use these 2 interchangeably and makes discussions really confusing.
@googlesmostwantedfrog14711 ай бұрын
Jeff Booth is a National Treasure
@davecisneros52858 ай бұрын
Ron Paul was not the only one. Tell me you don't remember Ross Perot. The man bought a 30 minute prime time network slot and with a whiteboard explained all of this. I voted for him.
@leefurst282211 ай бұрын
If you put money into the bank, you're a creditor, not a customer. It's not a trust account, it's literally theirs, and if they go broke, you go on the creditor list for cents on the dollar.
@ahuramazda98011 ай бұрын
If I am the creditor and they are the debtor, how come they get to come up with the stipulations and fees, etc? How come I cannot charge them when they do things that are disadvantageous to my enterprise?
@blank795810 ай бұрын
Over simplification. Your deposits are FDIC insured. The Fed won’t let depositors ever lose money now, they’d just bail out the bank. This debases the money supply which is the hidden tax of inflation. I still think that bitcoin is the answer for other reasons.
@SolidKnight6411 ай бұрын
Wow. I've never heard Dave's stand-up, but I love his reports on current events.
@Gmx9211 ай бұрын
You're not missing out on much
@chillingguy838611 ай бұрын
So I’m big fan of Dave’s podcast but his stand up not so much
@Gmx9211 ай бұрын
@@chillingguy8386 his standup is bad. Honestly, if you like his podcast just follow John merscheimer or watch videos about the austrian school of economics. Dave just watches John merischheimer (not sure on spelling) and gives dumbed down versions of his arguments
@simonday463911 ай бұрын
Like his world view his comedy is terrible
@evanllawton11 ай бұрын
His stand up sucks ass beyond belief.
@roberthiggins823411 ай бұрын
'You got to be chasing interest, in order to not lose money, you have to be chasing an investment'. That is the point. If you like it or not, the reason the target for inflation > 0 is to force people to spend, borrow and spend more. Keep people working for longer, increase investments and labor thereby increasing production/output. It has worked well for 80ish years, could it be improved upon, maybe.
@Haki-dd4ix11 ай бұрын
Lol it’s not spending that makes the economy grow. The whole reason for the growth of the economy is if are free to save money and therefor be able to look longterm in the future and feel safe that their money does not devalue, and this makes them able to stop looking to spend their money right now and instead be able to plan longterm for a good investment. If there was no inflation, people would feel like safe with keeping their money, and therefor be able to invest for the future instead of just investing short term because they are scared of their money loosing value. And people will not just sit on everything they earn and don’t buy anything if that’s what you think, people don’t buy things, because they are scared of inflation, they buy things cause the want them and it adds something to their life. If things getting cheaper would be a sign that noone bought anything, then none of us would buy any electronics for example, because they get cheaper and cheaper every year, but we still buy it, because we want them now, there is a time value to things also. I could prove more if you don’t understand😉
@Haki-dd4ix11 ай бұрын
The only reason for any ivention or capitlasim is because people look long term and are able to do that since they can save money. During the second half of the 19. Century, there were stable prices and even deflation over the period, and the economy flourished, we had more inventions than ever, for example we got the car, bicycle, radio, telephone, airplane, hot and cold water if i remember these coorectly, i don’t have time to google them right now lol. But my point is that the economy grows when people can save money and look long term.
@roberthiggins823411 ай бұрын
@@Haki-dd4ix I think I understand the majority of what you have said. I agree that when inflation is too high it screws everything up. 2-3% inflation isnt exactly high, but its high enough that cash savings get eroded over the long term. This means that people can't retire by putting their money into their mattress, they are required to invest their savings to get a return that matches or exceeds inflation. The 2-3% target is to bring stability, so that you believe this year is similar to next year and next decade is similar to this decade. The 2-3% inflation target is also used to promote borrowing. It means that someone who borrows their maximum today can expect that their income should increase over the years reducing the burden of the debt. It means that when the banks take a property as collateral for a loan, the majority of the time the collateral increases and exceeds the loan so that the banks don't take a loss on 'bad' loans. Its very hard to actually compare two economies with different inflation targets, the majority of developed countries sit around the 2-3% inflation target. These have been set by economists, unfortunately we can't rerun history and see what things would have changed with a lower inflation target.
@Haki-dd4ix11 ай бұрын
Inflation is a scam and the government has used propaganda to convince us that it is good. They say that we need inflation, becuase this makes people use money instead of saving, and this helps companies to get money so that they don’t have to close down. Basically they say that if it was worth it to save your money, then we would go into a crisis, because many companies would not sell their stuff and would have to close down. This is not true, as i said before, people don’t buy because they think about inflation or not, they just want stuff no matter what, you don’t have to stimulate people to buy stuff. The only reason they try so hard to convince people that inflation is good, is because inflation gives them power since they can tax people without asking through printing. As i said before, in the year about 1850-1910, was no inflation at all, and this era was one of the best ever, so i don’t what you mean when you say we have’nt ever experienced a society with no inflation. The era is in fact called “The Beatiful Era”, because the economy was the best it had ever been and people could actually work without loosing the value in their money and this also makes it more motivating to work. During the era, they were on a gold standard, but this sadly ended in the first world war, when many countries went of the gold standard in order to print money to finance the war. In Germany they printed so much money, until the point that there was no value left in the country, people had to come with big baskets of money only to buy a loaf or bread in the store. This is what caused the great depression after world war 1, and the government somehow convinced people that the reason this happened was because they did’nt go off the gold standard soon enough. A money that does not loose value is good and this is why we have used gold as money for more that a thousand years.
@tokialogv791311 ай бұрын
@@roberthiggins8234 Hello sorry for the late response. If you look up the era called "La Belle Époque" from 1870-1914 or "The Beatiful Era" in english, you can see that there was no inflation what so ever, and according to modern Keynesian economist, this should cause trouble, because they say inflation is necessary for the economy. But in this era, the economy flourished as i said before, so i don't know what you mean when you say that we can't rerun history to see what lower inflation would be like, because there was no inflation during that era. During The Beatiful Era with no inflation, the world got most of it's inventions that we now have only upgraded today. These inventions include The first car, Airplane, Radio, Telephone, The Lightbulb, Hot and cold running water, city Subways, Elevators, Voice recording, wireless telegraphy and much more. You can't tell me that inflation is necessary when the economy was that good without it. The reason that inflation came after this era, in huge amounts, was to finance the first world war. You can see this in Germany during the Weimarrepuplic, Germany had printed so much money to finance the war until the point that there was no economic value left in the country. And so many other wars happened the same way in the 20th century, because the people in charge can just print money to finance wars if they like to. And then they just manipulated people into believing that inflation is good even tho it has never ever been a good thing in history. They use all these bullshit theories that may actually appear reasonable, but are just to justify them printing money. All this talk about inflation should promote borrowing and inflation should incentivice investing is bullcrap. The only cause of economic growth in the first place is delayed gratification, saving, and investment which are only possible in a system were you are able to save your money. With inflation, everyone is just chasing random investments to just not loose money, and there is not a good and well thought out reason for it other than they want to keep their money. Or the other option is just to buy something with your money as soon as possible, because it doesn't pay off to save it. Then we get a society that is constantly chasing short-term gains or short term pleasure, and we all know that it's not people like these that make a good difference in the world. The athlete that only chases short-term gains and instant gratification will never become as goog as the one that delays gratification and thinks long-term. The same goes with a business man, Scientist or anything else for that matter.
@zayd.g11 ай бұрын
This very video should be in every news broadcast. The rabbit hole goes alot deeper but the initial shock is more than enough to wake some sheeps up