The Last Gasps of the Central Bank Experiment (w/ Brent Johnson and William White)

[@RealVisionFinance]

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[@colleenhanna8927]

I'm so excited

[@colleenhanna8927]

lol

[@CHEZZYNIPSTERZ]

@@colleenhanna8927 are the banks responsible for the corona pandemic?

[@michaelpearce8661]

@@CHEZZYNIPSTERZ who do you want to blame? I'm sure if they didn't have anything to do personally with the virus but have benefited greatly because of it due to the growing credit card debt and loans given out due to the shutdown of society.

[@michaelpearce8661]

And we can't pay off the debt is clear. Now what? Many have lost everything due to the lockdown and some states want to stay locked down forever! How can society function with local government keeping us under house arrest because someone might die from a cold?

[@michaels4255]

Nationalism is not about "blaming foreigners," is about maintaining a functional country, and a government that realizes that it is hired to maximize the welfare of its own citizens, not to "lift all boats" or to create the "first universal nation."

[@melissakaffen9114]

Ty sir

[@karlmcglue9946]

Very well said

[@khaoscero]

"maintaining" - yeah well that ship is sailed

[@aedressler]

I'm sure Mr. White is deeply troubled. As the saying goes, "Traitors before Enemies"

[@malthus101]

TOTALLY.

[@OMGAnotherday]

How convenient has this pandemic been as a distraction from this current global crash?

[@Charliechorizo]

It's not a distraction, it's integral in destroying the current financial order to bring about the New World Order with all of the draconian controls to prevent any transfer of power.

[@billhanna8838]

Yep & I really dont believe in coincidences , Kissinger - "When the people are scared enough they will welcome UN troops into there cities " & His doozy " The elderly are useless eaters " Whos this virus hitting ?

[@BioStuff415]

You mean the plandemic?

[@krypton9984]

This is one of my favourite videos of recent weeks. Its really well informed and completely open and clear. The very BEST line... "Its not what you don't know that gets you into trouble, its what you absolutely know for sure that is wrong" - I've got more knowledge to take away, but that one is a gem.

[@OMGAnotherday]

In my humble opinion, and from 40 years observation. The reason that we need to go fiscal rather than monetary, is very basic. Those in control of monetary measures do not care about the base economy e.g. where the people generate the “real” wealth of nations, (manufacturing, trade, goods and services). We in the west create almost nothing compared to where we used to be! A world where even the so called “rich west” has young people who are locked out from buying their own home in the 21st century, and the top 10% are rolling in wealth is nothing more than a failure! (IMHO).

[@wrongthink1212]

It's designed so the parasites can feed off the productive classes and basically enslave them... pitchfork time soon

[@Chris_Richard]

Brent’s milkshake brings all the banks to da yard... He could teach you, but he’ll havta charge.

[@boboften9952]

LooooooooL Thank You SIR

[@jasonbouchard9233]

brilliant

[@6472275455]

What about the fact that money is continually losing value and is not backed by anything of permanent value ?

[@ringo688]

I like the way he casually glosses over the central banks role in funding perpetual wars.He was getting a nice salary so who cares?

[@samuelhammondcoble420]

yes, and im nearly to the end, and keep listening and waiting for the wordS: JUBILEE USURY CONSPIRACY

[@avidmisreader]

26:18 casual mention

[@aedressler]

12:28 Banks use easy money to induce people to take on debt and IT WORKS!!! Sure, it works for the banks as they have no liability on the loan and can repo all your stuff. The fundamental problem is lthe lack of financial education at the k-12 level.

[@scdhl3305]

This was a fantastic interview, thank you to both of you

[@richarddebono7092]

I really enjoyed the respect & high regard offered to your guest. 👍👍👍

[@aedressler]

Bill White is so steeped in it that I recommend he read "Culture of Critique" by Kevin MacDonald

[@achilleasphilippides2997]

30:05 That humble part he said is a lie. What he meant is for him to not lose his job, he had to lie based on what his supervisors have told him ...

[@OMGAnotherday]

When they imposed austerity in Europe and US after 2008, what did they think would happen? How did they expect the debts of countries/Businesses/individuals to be paid off when hardly any manufacturing was being done? Where did they expect the growth to come from in the west?

[@michelegosse7116]

They KNEW, they managed it. First bubble and crisis to change the tune towards IMF "structural" changes.

[@cyb_structure]

Excellent interview Brent. William, thank you for being a guest and expressing your knowledge. Brent, I express the same thanks... The sad aspect is only a small percentage of the population - North America / World (and it's minuscule) are actually getting this info. it's upsetting to say the least.

[@newyork1401]

it is interesting that the BIS allows critics of the system to stay on payroll and that in some ways they are their most important scholars, though they are marginalized by market and govt forces...

[@whatsyurprob158]

". . . something rotten in the State of Denmark." . . .and he mockingly 🤣! I'm still trying to figure out how a small group of men got the power to print money without anything at all to back it, and then charge governments interest on it. Why aren't ya'll talking about this TRUTH?

[@moedervanbranko409]

That's very simple and reoccurring M.O., just bribe and or threathen the men in charge of the country('s economy). Usually this goes smoothly if you make sure the men in leading positions are corrupted and compromised OR/AND they are foreigners. Piece of cake!!

[@leocasamento5742]

Talk to the boys who met at Jekyll island. Back in the day!!

[@whatsyurprob158]

@@leocasamento5742 I'm very well aware of Jekyll Island, but it still doesn't answer the question.

[@jessejones5191]

Brent is a great interviewer.

[@JamesHawkeYouTube]

The Earth is all there is and the Globe is a concept they teach. No, we are not flying around in outer space on a wet rock.

[@warwicklambert33]

I love it when you are like this Brent....articulate and seemingly knowledgable. When I see some of your Twitter feeds and comments I think you are losing it. Pls more of the good stuff on Twitter.

[@postscript5549]

I clicked on thinking this was produced 21 hours ago. Now I see it was aired May 14th. Fascinating interview, but would have preferred to see it earlier.

[@kirstinstrand6292]

This is Hands Down the most insightful, revealing interview of 2020. Get these MEN together again, before November!

[@freddieleaf2620]

5:24. Flat earth reference. It’s flat folks. Satan rules the money/gov/education/medical systems

[@Snide01]

Satan doesn't exist, there are over 2000 Religions and none of them have a clue who runs this joint.. The Bible doesn't make any logical sense from the beginning, from when it says that people were made to live forever, yet they were placed into a garden, made with stomachs and digestive organs, and eating apples. Beings that live forever don't need nutrition or to eat. Not to mention all of the over sensationalized miracles throughout the book..

[@rbrtoavl1]

I kind of of feel this is a troll. In case you aren't trolling, buy airline tickets to go around the world, now's the best time to buy cheap tickets. Let your eyes do the thinking for you.

[@czourides]

Read "Outwitting the Devil", by Napoleon Hill. And yes, the Earth is verifiably not a spinning spherical ball nearly 25000 miles in circumference. This has now been proven thousands of times, it's 2020 for God's sake.

[@henrikvendelbo1117]

This is excellent. A critical and realistic view without frothing at the mouth.

[@revpgesqredux]

Brent, i have analyzed a good bit of your argumentation, and i am happy you are trying to help not only your clients but others-- everyone who will listen to you. Intention matters.

[@AniishAu]

31:45 The most enlightening point he made was that the BIS was "a host for meetings" providing a secretariat for national central bankers and regulators to meet, that is, decisions are made by individual stakeholders, and BIS 'policies' were often ignored.

[@aedressler]

And his knoeledge of banking qualified him to be a toir guide. The dude is a Shabbos Dupe

[@GenXstacker]

Great interview. Especially appreciated his humility and the admission that even the experts often get it wrong. I don't think any certainty is warranted because there are simply too many variables. No one rally knows how the future will unfold.

[@omicmma7371]

Brilliant, thank you William, Brent and Real Vision.

[@revpgesqredux]

Love this guy: not only is "the economy" a complex adaptive system, Markets themselves arise directly for (fallen) human nature, and that any attempt to control markets will result in corresponding changes in influence markets, which are known by the quaint names "political" and "social". These changes will send all kind of ripples and ricochets.... Therefore, the less interference, and the simplest most neutral refereeing... trying just to make the rules of the road and letting the beast mutate according to its own organic experiences... is best. The more fiddling, the more misery. Central planning = maximum misery.

[@gma729]

I LOVE REAL VISION !!!!! SUPERIOR GUEST !!! SUPERBLY INFORMATIVE !!! A WEALTH OF KNOWLEDGE RAINING DOWN !!!! THANK YOU RV !!! 👍👍👍👍👍

[@jeffreybaker5407]

Yes William!!!! Thank you!!!!!

[@jonasmagnusson3183]

Thank you Brent super interview.

[@Pantera2738]

this is pure gold, thanks, brent do a magnificent job!!!!!!

[@toddmarshall7573]

The reason for the central bank was to reconcile/clear demand deposits...period!

[@Clubrat]

Can’t stop coming back to brent, crazy how you can get this stuff for free^^ Long bonds and long USD until this stuff blows up.

[@noahlockwood9766]

What a clear, concise description of our monetary system - thank you for boiling it down to it's basic structure and inherent, fatal flaws.

[@bioindiv]

😊😊😊😊😊

[@bioindiv]

😊

[@dr.tetraminflakes3187]

i want a job at the central bank, work on a paper, give to a boss just to have it say i don't care and get paid.

[@derekwatt2282]

Implicit is the often foretold and impending global financial disaster, and after watching this rather excellent interview, I now get the feeling that this has been lined up for decades and hence our fate already written.

[@SheriffofYouTube]

pleasant Guest... after pushing all that paper he still has a friendly smile & looks well rested

[@aedressler]

29:00 Why no naming of George Freeman's Senior Deputy Governor? I've got my suspicions

[@Rawdiswar]

Outstanding. Thank you very much for this level headed and informative talk.

[@iancassie9840]

I think we are reaching 107 years on THE 2YK OF FRACTIONAL COUNTERFEITING

[@iancassie9840]

ITM has been talking a lot about THE LIBOR CHANGE IN 2021 as being like trying to thread the derivative market through The eye of a needle

[@intheflow4297]

Your title and your guest are disingenuous. The problem is not having a central bank per se, it is having a private central bank.

[@JoshuaTrenge]

If we could all understand that what we “know” to be correct....could be wrong! we could all learn from and be more tolerant of each other...

[@renebechtold8547]

Bring on Peter Schiff that be something fun to watch. No gold coin bets. Lol...

[@retro8919]

They have done many interviews/ debates

[@renebechtold8547]

@@retro8919 I loved to see more they just perfect those 2 to debate.

[@retro8919]

Rene Bechtold true. Long run Peter , short run Brent (and long)

[@aedressler]

2:58 "One would think there'd be kind of a push back on the Central Banking Community." Did this guy forget the End The Fed movement?

[@attilaevil]

Where is THAT movement ??? What happened ??

[@attilaevil]

@Woohoo 😄😆😂😅 Yes, I will have to research that one, for sure ! I think Ron Paul put it into his retirement account !

[@delboyg01]

Brilliant interview, thank you both, it's great to see that some can see beyond the economics text books.

[@michaels4255]

"fiscal weapon"means either higher taxes during a recession, which will make it worse, or higher debt which is already so high that it is probably acting as a drag on the economy. Sometimes the only solution is austerity.

[@klam77]

Central Bank buying Debt is called QE. It really means that debt on CB balance sheet is not required to be repaid! Who will verify?

[@123Goldhunter11]

I remember reading Web Of Debt by Ellen Brown where she contends that the original 13 colonies were prosperous because they had their own script and spent it into circulation and that the revolution was caused by the King demanding we use his monetary system where money is borrowed into existence. Now I just heard that Modern Monetary Theory advocates just that - spending it into the system. Loaning money into existence, Brown says, creates a system of want as the interest isn't also created causing a perpetual deficit.

[@dutchgirl7603]

Thanks for the Canadian guest, would love to hear more about the Canadian economic situation. We skirted through the GFC with barely a downturn, have a feeling we won't be so fortunate this time around.

[@zzbeasley]

A great discussion. William White is awesome in his understanding of the economics but falls short in his understanding of the political dimension. Yes the Central Bank must be accountable to the people but it has been. The people sleep through it by design. They woke up when they elected Trump. His 'short term' take over of the central bank is the accountability the people want and need. But Trump and the people need the public input of folks like White.

[@richardb4787]

The Stock market so high, Stock holders cannot sell their shares because there are no buyers.

[@JinKee]

so take out a short position. make yourself some money.

[@uturniaphobic]

They need us, we don't need them.

[@samuel-fi7qi]

💯

[@johnbiggs9561]

Brent really messes up the Princes Of the Yen bit. Whart Richard werner stated was that the in Japan's post war era "Window Guidance" heavily CONTRIOLLED bank credit creation and LIMITED it to credid for GDP purposes, not for assets purchases or consumption. Later, due to pressure from the USA and a percieved need to reform, there was a deliberate change where "window guidance" was used to force banks to issue excess credit, and most of it did go on asset purchases and consumption...hence the real estate and equity bubbles of the late 80's. Careful use of window guidance shows how focussing credit creation on GDP transactions can lead to powerhouse economies like Japan and Germany. Lack of control leads to the boom and bust cycles we see in most other economies. William white is clearly from the same camp as Richard Werner based on his comments in this article.

[@carlosorellana5154]

Not bad, considering that the information posted 3 july 2020 was filmed two months ago!

[@macrocrypto112]

Amazing interview, I'm going to have to watch it again

[@walkyourdog6584]

What a delightful interview.

[@desertskymike]

How can you say that central banks are accountable to the people of a democracy when the central bank can thumb it nose at the notion of an audit by the representative government of the people? This just sounds like more cover from a member of the global financial establishment.

[@elac1256]

It's not cover; it's truth. The central banks (and elected officials) do what the masses permit. They "thumb their nose" only because the people reliably don't do anything to prevent them from or penalize them for doing so.

[@billyjoeallen]

How can you inflate away the debt when money is borrowed into existence?

[@phillipalexandercarr1462]

Nice effort for your debate guys... Brent intuitively, I reckon, lots of perspectives have been enhanced on the back of your graft. Thanks from Cottonopolis and hope you get similar support from Stan & goldie. Best Philly

[@michaels4255]

Since fully delinking from the gold standard, financial instability has gone through the roof. Peg the dollar to gold on a 1:1 basis (which will require a drastic devaluation of the dollar against gold). Replace fractional reserve banking with full reserve banking which will make central banking expendable. Base total entitlement spending on a percentage of average GDP rather than a guaranteed fixed sum. Pass a balanced budget amendment. Fix changes in federal gov employee total compensation to fluctuations in the media hourly private sector wage. Allow one third of hourly wages to be paid tax free as a percentage of business earnings (not sales) paid out in monthly installments so that during recessions employee compensation can fall, which reduces layoffs and accelerates rehiring. Appoint a committee whose job is to routinely adjust US tariffs in a way that maximizes tariff revenue for the US government. Limit total immigration, legal and illegal, to 0.03% (3 per 10,000) of the US population as determined by an exact count in the previous US census. Aspiring immigrants who are not spouses or children of US citizens should be admitted by merit determined by their score on the English-only untranslated verbal section of the SAT. States should impose a graduated "windfall profits" tax on public sector retiree benefits to get their net benefits down to a level that is affordable by the taxpayer. It may be necessary to default on some percentage of US federal debt, but it would not destroy trust if the partial default (to get federal debt down to 80% of GDP) were accompanied by major reforms to avoid future trouble. This agenda would not solve all our problems, but it would give us far more financial stability than we have right now. Good luck getting it through Congress, though.

[@tcveatch]

Summarizes a long lecture of Richard Werner in a few words 10:35-11:35

[@postscriptum9856]

25:00 if you are wondering what the German constitutional court wanted from the ECB - just listen to this part of the interview.

[@nebusektenel352]

Markets are shrinking, corporations are scrambling to soften the blow of this outright collapse scenario.

[@michaels4255]

Wait until the global population starts to fall, then markets will shrink continuously. Fewer people=smaller markets.

[@elac1256]

@@michaels4255 Yes, and this is why conventional contemporary economic theory is bogus-but few will acknowledge this. Further, the shrinking population is also why much of the 'fiscal stimulus' infrastructure spending being called for in places like the US is (purposefully) misguided.

[@enderwiggin8947]

Great interview. Thanks

[@AnitaCorbett]

A Fascinating Interview - well lead- I believe their is scope for a second visit - thank you.

[@mervynlim336]

well done! i enjoyed it and learn sth new. thank you.

[@Tampa0123456789]

Just a wonderful interview 😊.

[@Nhoj737]

Prof. R.A. Werner has identified the main 'cause' of the boom-bust cycle and that is the creation of the 'wrong type of credit {money}'. “Economies that manage to focus credit creation on productive and sustainable use - i.e. not for consumption and asset transactions - are likely to achieve superior economic performance (high nominal GDP growth and comparatively low inflation, without asset price cycles and with financial system stability). As the World Bank (1993) indicated, and others have also found (Patrick, 1962; Wade, 1990; Werner, 2000a, b; Werner, 2003), at the heart of the East Asian economic miracle has been a process of guiding credit towards productive use and suppressing unproductive and unsustainable (hence systemically risky) use of credit. . . . Werner (1992, 1997, 2005, 2011b), using Japanese data, shows that credit for GDP transactions explains nominal GDP well over several decades, while alternative explanatory variables (including interest rates and money supply) are eliminated in a reduction from a general to the parsimonious specific model.” P23. eprints.soton.ac.uk/339271/1/Werner_IRFA_QTC_2012.pdf 'The above description of the crisis is misleading, because the most important factor in the creation and propagation of the crisis is not mentioned: the function of banks as the creators and allocators of the money supply. A corrected version would read as follows: “One of the main reasons the economic and financial crisis became so severe was that the banking sectors of many countries had created significant amounts of credit for transactions that are not part of GDP (i.e. mainly financial and real asset transactions), both on and off the balance sheets of banks. Credit extension for such transactions, if expanding in aggregate, is unsustainable, because these transactions do not yield sufficient intrinsic income streams to service and repay the debt created. However, as banks collectively increase credit for such asset transactions, due to the banks’ function as money supply creators, additionally created money supply is injected into the asset markets concerned. Ceteris paribus, this pushes up asset prices and suggests capital gains that may make this process temporarily appear to be sustainable. However, asset prices are a function of bank credit extended for asset transactions. As soon as banks reduce their asset transaction credit creation, asset prices fall and loans become non-performing. This results in banks becoming more risk-averse, hence reducing credit further. Thus banking activity is always pro-cyclical: banks create the credit that enables the majority of economic transactions. Since each bank is neither asked to nor able to consider the macroeconomic outcome of collective bank action, ultimately, the government or central bank have the responsibility to monitor aggregate credit creation and its allocation in terms of type of economic activity (productive: credit for the investment in the production of new goods and services; unproductive: credit for asset transactions; credit for consumption). Unproductive credit creation always results in inflation (of the asset inflation or consumer price inflation type, depending on banks’ direction of credit). Once a banking crisis has happened, the government or central bank has to step in with injections of liquidity, capital support and guarantees. This, however, does not need to expose the taxpayer to potential losses, as tax money should not be used for such purposes. Instead, the public sector should make use of its prerogative to create money newly. The advantage is that no tax burden or national debt, no interest burden or meaningful Richard A. Werner, Centre for Banking, Finance and Sustainable Development, University of Southampton 5 new obligation by the public sector is created in this way. The principle of moral hazard indicates that tax money should in any case not be used to bail out banks: tax payers are not responsible for the crisis and they did not enjoy the substantial speculative profits over several years that those who are responsible enjoyed. Nor will the use of newly created public money be inflationary: it is merely used to shore up the banking sector balance sheets, which itself does not inject any money into the non-banking sectors of the economy - and hence cannot result in inflation. “ www.bis.org/publ/bcbs165/universityofsou.pdf

[@jasonwhite7226]

The earth is FLAT. There is no Geographical horizon. No curve. Go back to sleep.

[@__-pl3jg]

Both the geographical horizon and its curve are observable and have been measured. Anyone with a few thousand dollars can take a ride in an airplane and see for themselves.

[@jasonwhite7226]

Random Person Wow you could make Internet history. No curve Homie

[@jasonwhite7226]

Random Person Do me a small favor. Please go to KZbin and type in Nathan Oakley. The globe is a lie.

[@robertswan6901]

What's up with the subliminal image of the mannequin in the RV introduction video clip?

[@tehabnorm]

Sweet big bankers on youtube

[@LearnWithMike]

Great interview awesome insights and knowledge of the old man

[@noahlockwood9766]

Oh it was going so well until Brent became a central bank apologist.

[@drmodestoesq]

My view? America is doing to deal with deflation and lack of liquidity with massive infrastructure spending bills. Most importantly, the path is clear politically. Low unemployment is more important than inflation to most voters.

[@mrzack888]

monetary policy can't work anymore. We need federal govt fiscal spending, and private sector debt jubilee.

[@revpgesqredux]

this guest reminds me that composure and equanimity + hard work = earned privilege

[@revpgesqredux]

How did a humble and brilliant and profound and insightful guy like this end up with a Country run by a bottle of hair conditioner, incarnate?? what a shame.

[@aedressler]

Mr. White is/was part of the problem. Like Nathan Rothschild said, I care not who makes the laws as long as I make its money.

[@MrKostol]

Still dont get it, why the dollar is going up at the end of the system?!

[@7MEGAPIXEL]

Dollars are needed to pay dollar based loans and there aren’t enough dollars to pay those debts. Demand vs supply.

[@kurtproton3726]

NUTSHELL: The FED Res Act 1913 gifted the FED a total stranglehold of the US/World economy, which plays out a simple win win strategy. Banks loan bigger and bigger amounts taking more and more risk (WIN) but if it looks like going wrong we write this letter...."Dear Gov, without a "rescue" package for [Corp X (we irresponsibly lent loads of money to), Sector Y (we lent loads of money to), or country Z etc, the economy or world is at risk of total collapse which would terrible for the "people". So you MUST "save the public" (what I really mean is prevent our loans being written off preventing our shareholders losing money) by authorising the FED (actually a central banking cartel owned by the major banks in disguise) to lend (ie make debt from thin air via a computer screen) to "save" X,Y,Z but on condition that the Govt (ie taxpayer) guarantees these loans (so we make more interest on ever bigger loans that are now guaranteed "yippee"). (WIN WIN). Thank you very much for handing us the power to literally suck the money from the people into our pockets. ps where do I send my next campaign contribution Mr Dem or Mr Rep?"

[@leealangrothe5552]

GREAT INTERVIEW!! TRUTH ABOUT UNTRUTHS!! BELIEVING THE LIE!!

[@billhanna8838]

Iceland fixed it = Jailed the banker gangsters ....

[@peterwright7025]

would of liked for you to ask your guest where he thought the missing 20 trillion dollars went

[@OMGAnotherday]

I think we all Know the answer the 1% 😩

[@LibertarianRF]

@@OMGAnotherday Doubtful.... it's deeper than just saying the 1%

[@Slayer8957]

@@LibertarianRF yeah, more accurate to say the .1%

[@postscriptum9856]

I like William - he is cool and clever!

[@robertcartino9677]

when times get rough, I blame myself...

[@jopo6388]

This guy is guilty as charged listen to his answers

[@murraykrause8869]

Good to get a clear perspective from the top down

[@Charliechorizo]

This is by design to bring in CBDCs and a more draconian control grid, not due to any incompetence.

[@kurtproton3726]

Struggling a tad with Mr. Brent's view that the BIS is simply a very very expensive and well funded "meeting place" "where no decisions are made". Bit like saying Jekyll Island was for duck hunting.

[@IB4U2Cme]

Stephen Roach, a senior lecturer at Yale University, his forecast calls for a 35% drop against other major currencies. His timeline is rough - over the next year or two, maybe more, independent of political leadership. Not in agreement with Brent Johnson's suggestion we will first see the increased demand for dollars to turn over dollar denominated debt. Any comments?

[@kirstinstrand6292]

I give Brent's hypothesis 60/40 odds. I do believe the tendency is to buy USD when economies are chaotic. We will know, soon.

[@kirstinstrand6292]

At any rate, team sports have never interested me, but this is the best game playing out. High Risk Sports!

[@michaels4255]

How does Roach determine the timing?

[@minigoatlawyer2526]

Fantastic content

[@revpgesqredux]

central bankers very smart people. not the smartest, but very smart. clever anyway. well-intentioned??? towards whom?

[@KozmicKarmaKoala]

Narcissism and psychopathy never end well in the long run, often taking down all around them...WE are the ones getting shafted by those "very smart people" . When there is no EMPATHY, there is no human.

[@ArtsAlign]

"Clever" people know that they aren't intellectually superior to others so they have to resort to deceptive tactics to get over on others.

[@jacklonergan9991]

Brent your quoted everywhere; like the boogie man

[@alxmnslv]

the candy man

[@billymcfarlane1387]

2 Smart Gentlemen ...Great Stuff ... Thank You

[@revpgesqredux]

the sadness and sobriety in Brent's eyes says so much. the more right his guest is, the more the sighing makes sense.... "what can wash away our sin??" :'( Not looking good for fixing this mess.

[@postscript5549]

Yes the Federal Reserve is going outside its mandate. That's why they have to use special purpose vehicles!

[@thomasd2444]

41:02 - Global Financial Crisis "de-leverage" . . . [Who was "de-leveraged" ?] 41:09 - Emerging Markets accounted for a large part of the increase 41:19 - 2008 trigger : Excesses within the USA Currency Units In Circulation

[@cmw3737]

Of course the system is unstable. Even if it was stable the minute central bankers assume that and get involved the system adapts and changes to their involvement. Just as a trading strategy eventually stops working if it becomes part of everyone's model. The work of Minsky is most undervalued and seems to me far more close to the real way things work over periods beyond a single fed chairman's tenure.

[@michaelglenning5107]

When ever the FED bales out non US central banks, isn't it the US taxpayer who is footing the bill?