The End of Alchemy | Lord Mervyn King | Talks at Google

[@zzebowa]

A very intelligent guy. He has the confidence and understanding to speak clearly. Always a sign of a clever person.

[@fuckfannyfiddlefart]

And a CAPITALIST THIEF!

[@gore1089]

No one ever asks the important questions.. Like.. Is the central banking system private. Is it debt based and and therefore a Ponzi scheme.etc.

[@chonnerone2964]

I didn't waste my money going to university so I rely on talks and lectures like this to not be thick. Thank you.

[@fuckfannyfiddlefart]

This will just make you a sycophant to capitalism and class traitor! Republicans love the poorly educated as Drumpf said. #CommunismNOW

[@VikasNiranjanBellary]

Like his analysis and insight...got to buy the book

[@mypointofview1111]

Mervyn Kings proposed solution to the problem of being the lender of last resort is that the Bank of England should act in the same manner as a pawnbroker, companies, banks have their assets valued in good times with an evaluation where "the pawnbroker" offers a loan ratio to the value of the asset which sounds ok. Except that in bad times those assets depreciate, or lose a good part of their value which means the companies or banks get far less than was previously agreed or the bank pays out at distorted high valuations, i.e. at a loss. It could be argued that if the BoE buys at a lower price its bagged itself a bargain and just has to wait for the price to return to its normal evaluation, but if, in a prolonged recession /depression its not possible to wait for prices to rise it would mean the BoE would have to write off these loans putting the BoE in a precarious position of going bust itself. It may be that the BoE just prints its way out of its troubles but that's hardly adhering to market values either. Hardly a satisfactory solution.

[@stellaris915]

There has been a systematic deregulation of international banking and financial markets for years all in the name and culture of heralding and rewarding "financial innovation" we've seen more financial derivatives, credit default swaps, than ever before. Deregulating an entire global financial system is intentional an systematic process with quite obvious consequences i.e. subprime crisis 2007... the question is WHY? WHO profits from this?

[@ian_b]

Carney was a considerable downgrade from the erudite King.

[@Leila2023_]

it's the government that decides how money will be distributed not the population of the uk. when he said it was very nice of my parent's generation to pay the maintenance fee for university. it's government which decides that. in france it still exists.

[@ri-oj1ul]

Book was awesome

[@bhpartywallsurveyors2587]

Prophetic about how the Brexit vote won't be accepted.

[@SoneyaMacdonaldCreighton-ou1my]

Question for the results of banking not reaching to you how can you help our opportunity of payment please answer my questions

[@Rhombohedral]

moderators audio is screaming the guest audio is bad. sounds liek he is at the end of a hallway.. so this video is a dread to follow. when one adjusts for the guest then the moderator audio screams through the speakers very amateurish

[@nickjung7394]

Rhombohedral I had no difficulty whatever hearing the discussion.

[@nickjung7394]

Rhombohedral had no problem at all. I don't know what you are making a fuss about

[@leo333333able]

He seems a lot happier nowadays

[@zachwolves]

I would suggest you guys get an interviewer in there that doesn't sound so condescending.

[@patricksullivan6034]

maybe remix the audio?

[@PabloTBrave]

People today generally own nothing huge loans, mortgages and leases , rent phones, music, films TVs, a cycle that once in is hard to get of as you get used to 2 new cards and all the things you don't need , which is fine in the good times but a disaster in the bad times. I haven't touched a note or coin for over 2 years "money" is for the most part digital and stays that way everything is bought on credit/debit card Google pay ( I'm not in debt i own my house, car and phone ) mortgages leases and loans are not taken out in cash but magically appears as numbers transferred from one account to another as the money isn't real the fact the banks don't have enough isn't necessary a problem., Unless you own nothing .

[@lefthooklansing]

interest rates have officially risen.

[@zzebowa]

Productivity = specialisation, trade, mechanisation... Yep, it is coming.

[@evolassunglasses4673]

Money printer goes brrrrrrrrh

[@sheevys]

"TM Lewin" "Impressive"

[@Sol-x]

as i am the current world's foremost alchemist? i now disagree, and this lord is to me removed for his heretic words. do not challenge this judgment for pain of loss.

[@888ssss]

he forgets the key thing time. he has run out of time. they have left it far too long. any recovery is wishful thinking. the nation is ruined beyond repair. pensions will collapse next. this man was warned as far back as 2002 nobody was jailed for fraud.....

[@Will46666]

The whole financial system is a fraud. It is designed to fail. As you say - There will be NO recovery.

[@888ssss]

@@Will46666 the crawling out of the gutter will be the recovery, but it looks like gov is trying to line its own nest with a spot of instant communism. i should have £1 everytime an MP says 'communities'

[@Will46666]

@@888ssss I really don’t believe that there will be any recovery at all, as the whole system of creating money as debt, out of thin air, is finished. There HAS to be a new system. Or, more likely, several competing financial systems round the world. I would also suggest that it is not so much Communism as Fascism - “Everything for the state. Nothing against the state. Nothing outside the state” (Top down, rather than bottom up).

[@888ssss]

@@Will46666 totally accurate. esp about the fascism.

[@maybehuman4]

Bad audio, bad content. Wow, what is this Google?

[@HussainFahmy]

*The End of Alchemy,* _The Rise of Islamic Economy_

[@dennysmith7862]

Narcissist of note...prefer Richard Branson by far... nicer human being....

[@evolassunglasses4673]

🤡

[@fuckfannyfiddlefart]

The only good Branson is pickle. I don't like greedy CAPITALISTS or friends of Epstein!