Thomas Piketty on Capitalism, Corbyn and why Zuckerberg is getting it wrong - BBC Newsnight

Renowned economist Thomas Piketty sits down for a tête a tête on the world economy with Evan Davis
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[@TititoDeBologay]

Level zero of journalism in that line of questioning. Highly unprofessional, what with the chuckling and scoffing, he does not even try to check his bias.

[@scdobserver835]

+Titito De Bologay What do you expect this Jeremy Paxman wannabe? He's NEVER good at this political journalism lark. He's an embarrassment.

[@durand101]

+Titito De Bologay I agree, what a terrible interview.

[@Notallowed101]

+Titito De Bologay he's asking some stupid fucking questions that's for sure.

[@Simonc1952]

+Titito De Bologay Very good point. Smug bastard that Davis.

[@pigknickers2975]

+Titito De Bologay Always reminds me of one of those guys that lies in a urinal to get pissed on at a gay club.

[@xBourne34x]

Piketty is a legend, shows a real level of understanding when he can be assaulted by Davis' leading questions and come out with a reasonable argument based on facts that makes Davis look the fool

[@MarkJVSomers]

The 'journalist' seems to think there is no such thing as inequality, and if so it doesn't matter at all. And his sarcastic smile while asking questions, is very irritating. I do not have Piketty's patience, that's for sure.

[@danielbee]

+Mark Somers He is playing Devil's advocate, I think he knows full well there is inequality.

[@MarkJVSomers]

Daniel Beetham Do you think so ? With all the sarcastic smiling, I felt it was a bit more than that.

[@danielbee]

Mark Somers If he was sincere, would there be sarcastic smiling? I think he is playing the game, which is good. At the start he laughs with Pikkey, and does a couple of times throughout the interview, I think he honestly likes and respects him.

[@drgerke]

Half an hour of Evan Davies not getting it.

[@loug7194]

On purpose. This is just blatant BBC bias against anyone who challenges the economic status quo, a trend occurring across all main stream media. A very dark and worrying trend, and seriously undermines democracy.

[@kr050]

He's a journalist. He is paid good money not to get it. :D

[@JamesTrevitt]

Evan Davis, mouthpiece for the establishment elites. Makes me laugh that he questions Thomas Piketty's impartiality when he's supposed to be a journalist himself! He's not half as political as you Evan. You might as well be wearing a George Osborne T-shirt.

[@ChicagoTurtle1]

Concentration of wealth doesn’t just exist on the quantitative level. “The history of the distribution of wealth has always been deeply political, and it cannot be reduced to purely economic mechanisms.” - Piketty.

[@bethanyhunt2704]

"There's been quite a lot of trickle-down". What an ignorant ideologue Davies is!! Having iPhones in the world is NOT a trickle-down of wealth! 100% of the new wealth created in the U.S. since 1980 has gone to the top 10%. All of it. Most of the wealth comes from ownership of production - NOT innovation or hard work! So many, like Davies, like to quote Silicon Valley as bastions of the innovation of private ownership. When in fact, the vast majority of tech innovations - the internet, the web, touch screens, GPS etc - were created by the government!

[@tiendoan1333]

So why isn't the bottom 90% aren't living in farms and wastelands?

[@antediluvianatheist5262]

@@tiendoan1333 they are. Ever been to detroit?

[@carlose.martinez545]

The trickle down comment shows Davis neoliberal biased interview. In some moment seems Davis does not understand what Picketty is really saying!

[@jond4532]

“Because of pressure from journalists like you “. Mr. Thomas, you have one vote here...👍.

[@AD-jt7bd]

I'm getting second -hand embarrassment from the astounding level of ignorance this 'journalist' is displaying.

[@arealperson6523]

+Cleopatra Anthony Evan Davis' narrow-mindedness is an emergent property of what the BBC has unfortunately become.

[@yslad5204]

+Areal Person unfortunately I'd have to agree.

[@pigknickers2975]

+Cleopatra Anthony It's the BBC, they are now useless. Shut them down!

[@eoindiff]

"The little counsel of economic advisors of Jeremy Corbyn.." - the questioning is some disrespectful to one of the foremost economic writers of our time.

[@eleonorelemonnier9277]

Piketty and his super frenchy accent ! Love my French economist and I am not the only one.

[@88earlsy]

Evan Davis is an absolute disgrace of a journalist. And he's supposed to specialize in economics?! *facepalm*

[@CarlyonProduction]

88earlsy exactly. This is unreal. He can’t even grasp the most basic arguments Picketty is making. The idea that this guy specialises in economics is honestly embarrassing. He is an ideologue.

[@TalynStormcrow]

The journalist thinks that money doesn't make money? GCSE maths makes it self evident.

[@GothicKin]

He's interviewing Piketty and he's questioning him through the point of view of the classic centrist, nothing can help get Piketty's point across better than this. I don't know if he's sincere or he's challenging his guest ( as a journalist should do ) but in the end we get to see Piketty tear apart classic bad takes.

[@ss-th9pf]

Economics is not science it's an ideology

[@1993muadh]

I think the interviewer's disagreement with most of what Piketty said made the interview much more interesting. Piketty was pushed to make strong arguments about inequality. I'm not giving any credits to the interviewer because I think that was unintentional. He was just biased.

[@elizabethcsicsery-ronay1633]

I think he was being provocative. You shouldn't throw softballs.

[@carlose.martinez545]

Biased indeed! Neoliberalism biased! The interviewer didn't find Picketty findings interesting or not that important: almost exact words were said.

[@TreborTheWise]

Interviewer: Isn't terrorism the main problem today? No, that is what the ruling elites want us to think so hat we're distracted from what's important. Smh

[@lutherblissett9070]

That was the correct answer of course.

[@darthsidious1353]

@@lutherblissett9070 how is it that the correct answer?

[@quoileternite]

So true.

[@quoileternite]

@@lutherblissett9070 yes that was the correct answer, I totally agree.

[@antediluvianatheist5262]

@@darthsidious1353 Because it's true. Also, nearly ALL of the terrorists that exist, exist because they were trained, sponsored and armed by the US.

[@allgoo1964]

interviewer, at least read the book just once. Many of his questions are already explained in the book.

[@nigelharsch]

At 12:45, interviewer claims that 2/3 of homes in UK are owned, not rented. What percentage of those are actually owned by a bank, effectively making the bank a landlord? Also, if housing prices skyrocket, a middle class home owner will be more likely to sell their home to someone in a higher income bracket. They will make a handsome one time profit for sure, but capital will continue to be concentrated in the highest quartile.

[@grubernitsch]

Very unfortunate that state owned BBC keeps paying for this crap line of questioning. One might think you have privately owned TV to do the dumb-down work.

[@CarlyonProduction]

grubernitsch it’s really disappointing. This interview has aged really badly....and it was already terrible on the first watch.

[@anooprkj2e]

not great journalistic questions... laughing at Mr piketty ... really ? how come BBC hired this guy !!!

[@kingerchack1]

I think he does not make fun with laughing, but rahter he accepts Piketty's rightness, and the failure of his own bias. And laughing is always better than crying

[@loug7194]

BBC is employing biast establishment political and economic editors in order to shut down any constructive democratic discussion about changing the neo-liberal economic model (a model that is clearly the biggest heist in the history of economics)

[@CarlyonProduction]

Anoop Radhakrishnan because the British media is perfectly emblematic of the problems Picketty outlines. Our media is overwhelmingly made up of privately educated, upper class people who have a very specific worldview. This is one of the main reasons our country is in the gutter. Whether it is right wing press scapegoating Muslims for our problems (as Picketty outlined in this very video) or the so called left wing press that has fought tooth and nail to avoid the most basic social democratic programs.

[@ElTortillaGrande]

Funny how his mic doesn't pick up sound as well as Evan's.

[@ionsoroceanu76]

"I view myself as a social scientist more than economist". He's right here.

[@PeachesandCream225]

true economics is a very weak science if you can even call it a science in the first place

[@onkarvigy]

One of the best conversations!!That journalist had some stuff and impartial intent. Thomas Piketty has brought to the table irrefutable historical data to back the famous Marx saying "So far philosophers have only interpreted the world; the point, however, is to change it".

[@carlose.martinez545]

Sorry, no impartial intent here. The view of the interviewer was a neoliberal one.

[@ashleighconnors9595]

"The little council of economic advisors to John Mc D" @19:45 - so so condescending

[@bilbarcooks4681]

Can anyone from the BBC explain how Evan Davis can consider the way he asked the question about Jeremy Corbyn while giggling away like it's absurd, balanced journalism? Also where would someone find citations for the statistics Evan quoted?

[@Guava_noise]

@bbcnewsnight can you please turn the volume up?

[@jackmansfield4453]

Good stuff Tomo'.

[@yolo2709]

I don't get the first questions of the interview. This guy has a math genius coming with years of work collecting data and making statistics out of it and he comes with Zuckerberg and Bill Gates. Isn't the point of statistics avoiding that kind of "example reasoning"?

[@emmanueltorres4698]

we need the worker class in control of large amount of companies. We need to distribute the surpluses

[@carolinanascimento1836]

Emmanuel Torres no, you need to make your own Money friend . It's the best time in History to get it. So get to work . Cumunism Sounds great , doesn't work.

[@lynnevenables7193]

Carolina Nascimento wow! It is his money, he earned it.

[@carlose.martinez545]

@@carolinanascimento1836 There are different ways of worker's class control that have nothing to do with communism or socialism. This is as long as the government (state) administers as a third voice to decisions that have to do with redistribution, either through salaries, benefits, taxes, etc.

[@iWouldWantSky]

12:14 Anticipating the fierce spanking his owners are going to give him for failing to control the bad economist man

[@jimmyjames417]

hahahahhaha!

[@tucci007da]

why is the sound mixed hard L-R when the speaker usually fills the frame? Makes it hard to hear / focus

[@barraqali336]

Tremendous intellect!

[@quoileternite]

If you do not support the "Establishment", then you are necessary not "objective" ! Orthodox economists are never asked this question, they belong to the dominant ideology so there is no suspicion of a lack of objectivity from them !

[@geoffreynhill2833]

Where does the BBC find 'em?

[@IndieGuvenc]

12:15 look at that Evil Laugh, that look when you get caught with your hand in the cookie jar lol

[@1TimBaugh]

Far too much self evident bias from the interviewer, lots of missed opportunities for a really interesting discussion. Shame.

[@loug7194]

What did you expect? RIP quality, unbiast BBC journalism. I can't even listen to Radio 4 anymore the news is so biast and dumbed down.

[@ItHappens117]

guy's laughing at his interview subject lol.

[@GB-gu5jz]

how can the interviewer be so naive at his age?

[@ChristianLafrance]

Was a journalist whose expertise is economics not available for this interview? Comments on social mobility and trickle-down fly in the face of economic evidence.

[@mango4ttwo635]

Housing over the past 20 years has impoverished millions of Britons, Mr Davis. Some 20 years ago, those not yet on the property ladder had the ability to buy or at least to save to buy. In the South East at least, that is no longer true. Meanwhile, those who were already property owners have gotten wealthy from no effort on their part but through debt creation by: banks, and after the Crash by the Central Bank and by government.

[@jasondiana6448]

Same in Canada.

[@ewp7615]

honestly, I don't think this was "just" a bad journalist. I think he was actively out to put Piketty in a corner to discredit his argument.. I wonder in whose interest this could be ..

[@Name-jw4sj]

Even so, Piketty responses were brilliant since he tears down the whole notion of philanthropy giving by billionaires. I am actually quite happy to have that host interview him since it exposes a lot of the misinformation about democracy, billionaires and policy.

[@ewp7615]

@@Name-jw4sj I agree, I was really impressed by how eloquently and politely he answered these very rude questions

[@IcarusFlyby]

I don't think Evan read the book. ZERO

[@bmdrona]

My Economics 101 taught me about econometrics/mathematic models which have limited applicability in our life-reality. The classic name Political Economy is more apt since economics is ultimately driven by politics.

[@bradcox3331]

the first 10 seconds - "the anglo-saxon sphere", like what? This isn't the 8th Century. Interviewer, I think you mean "the Anglosphere" to refer to countries that speak English. Anglo-saxon is an extinct language. .

[@sp0rtbilly77]

The interview has that Mr Berns face 40 yrs later

[@kingerchack1]

Salute the New Keynes!

[@sgordon8123]

The mobility IS actually a very interesting point. But mafia bosses change when they bump each other off ... doesn't stop entrenched corruption being the case.

[@boyax7825]

in the first part the interiewer looks like in disbelief

[@mattfm101]

Even if wealth and living standards raised at the some rate that would still be unstainable as the wealth would still gravitate towards the wealthy as their for example 10% increase would be worth more than someone's with less 10%. I don't how you can make things more equal, apart from to ACTUALLY do the things democracy's say they do like regulation, social spending and wage controls.

[@carlose.martinez545]

Not if we tax the wealthy to balance that equation. That is how we make things more equal.

[@TexasSapphires]

Would be great except the volume is so low you can’t understand a word he’s saying. Check your production before posting. It’s so irresponsible to do otherwise!

[@iankanix]

Thomas Piketty is awesome.

[@MaitreyaNow]

Evan Davies han't been paying much attention really with several independent studies stating very clearly that, due to the influence of those that hold the wealth over our political and economic systems, we now live under an oligarchy of the rich - a plutocracy. Democracy (and capitalism) has been undermined by those who control the capital. Such levels of inequality wouldn't exist in a democracy surely? A deeper study into billionaire mobility would undoubtedly show that it is largely those of a certain economic background that make it into this category. The US and the UK are leaders in social immobility in the developed world according to other studies so that would suggest that billionaire mobility is largely limited to those from the wealthiest families. I would post links to these studies but KZbin doesn't seem to allow it...

[@augurcybernaut4785]

Clinton Foundation + Gates Foundation + Trump Inc = Mark Zuckerberg in Fantasia.

[@kristiandevries1393]

The best example that economics is a religion....

[@adhhxgxhhg]

4:26

[@jearl35]

My favourite part was when the interviewer was crushing on Zuckerburg and Gates and Piketty brought him back to factual reality and why public interest and democracy Trump entrepreneurship. otherwise a solid interview.

[@MrOliverwoods]

Philanthropic organizations developed by the rich to avoid taxes isn’t morally explainable as doing good. It’s a form of greed, not a love of mankind.

[@lifestoryguy]

As someone that actually owns two small apartments one of which I rent out, it amazes me the tax system gives me a bung each year by allowing me to earn £1000 a year from rental income without paying tax so thanks for the extra £200 it will help with the increase in fuel bills. You know, if I do extra shifts at my work I'm taxed at the end of the month no matter what so why do they need to give me a tax break on an asset like a rental property that's generating passive income for me? I also invest in the stock market and don't have to pay any tax on the first £12,300 each year which I mention because it is also close to the annual income of someone working full-time on the minimum wage after tax and national insurance. Also, given that the vast majority of the population, which is tens of millions of people, don't even have £1000 in an account for emergencies why are people like me able to sock away £000s into ISAs that the overwhelming majority of the population can't because they don't earn enough or are burdened by debt. Wouldn't it make sense to lower the amounts you can save in ISAs rather than increase National Insurance? After all, it's folk with money and assets that can utilise ISAs whereas it's the working poor that will be hit by national insurance increases.

[@leeruojia8039]

I am reading a chinese edition ,wish more statistics about china included.

[@dansumsion9904]

losing that referendum didn't do Osborne much good

[@RAMSEY1987]

the only time you would et the BBC asking real questions of economists is if they were talking to a Laissez-faire economist but when does that ever happen r maybe if Andrew Neil was asking questions.

[@CarlyonProduction]

The economics people at the bbc are not far from ‘laissez-faire’ themselves. They want to avoid basic tax reform and keep things run as they are. They want the billionaires to have a free hand in making all the decisions. Fortunately, there are lots of economists waking up from this hallucination. We tried it Milton Friedman’s way and it ended in disaster.

[@TalynStormcrow]

Anyone else see the lip synch out?

[@krisdhiradityakul]

Everybody will say he/she is objective and thomas piketty will try his best. I have no doubt on that but the world always like to label whoever stands out as left or right. just ignore it.

[@CarlyonProduction]

It’s not about labelling, the interviewer is just factually wrong on almost every point. The question about objectivity is worthless...what Picketty has done is assemble a ton of data - there are no refutations, so the question about bias is ridiculous - particularly coming from a guy who spend the whole interview smirking and grimacing.

[@TheLily97232]

Giving the world Facebook certainly does not erase the fact that many people can't eat correctly. We are not in the kingdom eras anymore where we wait for the kindness of the lord to feed/help us. Let's be serious.

[@jamesunsworth6865]

How can you take Evan Davis seriously, when you see his ears!!!!! Harry and Paul take the piss out of him brilliantly.

[@evaelorrieta]

Thomas je aimarais bien faire le point avec toi sur ton accent en anglais. 50 €/hr...3 mois. 2 hours / per week

[@Iain1962]

+eva elorrieta Thomas je le ferrai pour 25 €/hr 1 mois 4 heures par semaine. Le capitalisme en marche !

[@evaelorrieta]

We..capitalisme sauvage , n´est pas ? :-) Avez vous besoin?

[@Iain1962]

+eva elorrieta Qu'est qu'y est sauvage d'offrir un meilleur prix et une solution plus rapide?

[@evaelorrieta]

Non, sauvage = offrir une formation bidon sans former et gagner l'argent sans atteindre un objectif...ce n´est pas le cas :-) vous n'avez pas donné une réponse

[@Iain1962]

+eva elorrieta Pourquoi j'offre une formation bidon? Ca c'est presumer quelque chose quand vous n'avez pas d'informations. Malgré votre impertinence je vous explique. Je suis écossais et parfaitement bilingue, donc très bien placé pour proposer ce service a un prix beacoup plus sérieux.

[@abdallaosman2490]

I do agree with him in his veiw about how capitalism work though its not the perfect economic system in my opinion inequality will keep growing till we find an other system better than this

[@fearlessmaster3826]

What a stupid last question. He's questioning if he's objective because he has political views? What intelligent person doesn't have political views?

[@lotlievaart6823]

Worse the journalist hiself seems to have political views:-)

[@visheshkumar387]

predicted brexit

[@Treyttaylor]

Evan Davies can’t seem to grasp the simple notion that economic wealth and inequality brings with it disparity in political power. Nor does he understand that it’s almost irrelevant that different people can get to the very top, as the problem is the concentration itself - the amount of hands it’s concentrated in, rather than who’s hands.

[@johannesbekker1970]

Is economics about what is or what ought to be ? Turns out it's neither !

[@otleyltd6544]

When a millionaire laughs in the face of a progressive economist. Evan Davis ....

[@uttaradit2]

Try the original Das Capital by Karl Marx.

[@leanmchungry4735]

Piketty is terrific here his responses are coherent and substantial. Evan Davis asks inane questions while grinning like a halfwit.Is Davis grinning because he is happy to be talking to a famous man on camera, or is he a supercilious twat? I don't have a good read on Davis's grin, but I don't like it here. Davis should have studied Piketty's book more intensively before interviewing the man on the BBC, he clearly didn't read it carefully enough as evidenced by his response at 6.54.

[@carlose.martinez545]

Well, by the middle of this interview I realized that the interviewer had a neoliberal way of looking and things, revealed by the "trickle down concept" he mentions, that neoliberals love to use for showing how the rest of the society benefits from the rich getting richer and richer. Picketty is saying the problem is one of redistribution of wealth, with unequal growth for upper, mid and lower classes. The upper gains have been growing more, in %, than those of the other classes. That is what Picketty investigation and book is about. Meanwhile the interviewer, very unpolitely, is saying "then what you are proposing is not so interesting" (???) Has the interviewer sold 3 million books? Why do you think what Piketty is not so interesting when 3 million people (which may be triple that people or more from loans and else) on a matter that apparently is not in everybody's domain? So for the neoliberal interviewer that unequal growth is not interesting and not important. Am I wrong on my observations?

[@dinsel9691]

At 6.53 the interviewer explains how he understands Picketty's position... and Picketty just gets visibly frustrated and sighs.... Interviewer is pushing the idea that "well as long as getting rich is available to all of us, then it's a good system".. completely missing the point... So what if billionaires these days as a % are more "self made"?? If in the future 100% of billionaires are self made but there is only 3 of them and they control 99.99% of the World economy, HOW IS THAT A GOOD THING?

[@jamesclerkmaxwell676]

The journalist clearly owns Thomas Piketty in this interview lol.

[@rurajesh]

The interviewer questions Piketty if his book should be considered partial as he has strong political views. Really? This is your final argument to discard his research after chuckles, hissing noises and asking who would he vote for in the UK elections. You surely do not have strong political views! So naive from a BBC journalist.

[@sgordon8123]

I love Evan Davies - I think his questioning is genuine and simply trying to tease out details. He does an excellent business series on radio 4.

[@boyax7825]

check anand girihardas

[@boyax7825]

he didnt dig deep with the philantrophy

[@Msnando09]

Dreadful interview by Evan Davies. With that smirk on his face all the way through

[@MSYNGWIE12]

How many people actually own their house? Five years on, where I live houses are ludicrously expensive and to "own" means mortgaged to the point of the absurd. So, you buy a fixer-upper and the materials and labour have sky rocketed rendering an old house (the money it, I know) a poor, sadly (they DO have character) choice. I have to sell and what my home needs in repairs will not give me much choice in anything- apartments are not for me and no I can't go to the bank and get a second mortgage to make an apartment for somebody with little money- that would be my dream, solve my problem (the invisible poor) and give a decent, clean, safe, friendly, use of back yard etc place to live. But time for John Lennon, Imagine...Namaste, Z.

[@CarlyonProduction]

Imagine being paid that well to be that deluded and myopic. I’m not saying that to be snide, I just mean that the interviewer literally cannot understand what Picketty is saying. This is not because he doesn’t have the intelligence, rather, he is blinded by ideology. This interview has aged very poorly. I would love to know how the interviewer feels about this today. At the time we are watching Mike Bloomberg literally buy the democratic primary to avoid paying a wealth tax, of course, Thomas has been proved correct.

[@MrLuigiFercotti]

I am hoping the interviewer was taking an adversary position for journalistic purposes, otherwise he is complete tool.

[@Ivanlysenko4872]

Looking at his happy face starting to understand how easy to manipulate masses by weird ideas: communism, socialism, nazi and “Capital in 21 century”

[@CarlyonProduction]

What? What’s the weird idea? Have you read the book? Seems like you misunderstand the case he is making.

[@Arthagnou]

redistributive policies are as old as ancient Greece, Rome and Marx. Maybe people in the West should gain some bias to buying things from Western Countries and shun goods made in 3rd world countries. The Germans do this, and thus their manufacturing base hasn't been destroyed. Germans also consider money spent more on quality manufacturing as more valuable than flashy commercials and marketing. Advantage of the Germans over the Americans.

[@Anonamoosemouse]

You're completely deluded if you think there is real social mobility in today's world. Those born in the bottom 50% don't have the same prospects as those in the top 50%. Yes there are success stories, but those are exceptions and exceptions used to justify the status quo. This also applies between nations. Those born into the top 50% didn't earn their privilidge, they are no more deserving of it and if we want to really have a world based on merit and equal opportunity, we can't accept the fact the top 10% in the UK hold 43% of the wealth while the bottom 50% hold 9% of the wealth.

[@lotlievaart6823]

Very cheap questioning strategy...no problem if he would be critical, but this guy just tries to fix his cognative dissonance....

[@user-wn6ek5xv2s]

So, Lecture Future Crisis No. 4: Bank Banking - What Will We Leave For Our Children? The collapse of the entire market economy and the financial system of the world. Devaluation - Dollar. Imagine Bankrupt of All Banks of the World - How Many People Will Affect Staff Investors, Customers.The scenario of the development of events and consequences. Introduction - All Data is Based on Figures and Naturally, On the Analysis of History. Having analyzed: All Crises In a row ,. Military Actions Around the World. To understand - what country at what time - quickly got up - on her feet financially, economically, psychologically. World - All Countries of the World - Sorry! This is the Initial Model of the USSR from 1945 to 1970! Beginning of the Future Crisis (Stone Age) - 1 Sign - Bank Collapse. 2 Cash Out. 3 Financial and Economic Institutions Nothing to Do - Could Not! Warren Buffett's words: "All the Banks - Played Over!" Yes exactly! Banks - Financial Needle! % Accrual System - Doesn’t Take into account Errors: From Inflation - Planet Resources, Natural Disaster, Human Factor, Elementary - Dollar Jumps on the Exchange Every Day - And% Accrual System - Same Stable - How ?, ... Hundreds, Thousands Factors! In 2008, Spruce Economy Restrained by 1 Industry - Real Estate - Oversupply! Friends Oversupply - In All Economic Financial Industries! List of Industries I will Provide later. After - Sorting and Selection - Strategically Important for the Country and Competent Redistribution of Current Resources Between Industries: Equipment, Production, Administrative, Squares, ... All - The World is Tied to the End Currency (US Gold Reserve Relation to the Current Moment 1 Dollar = -10000 Dollars Lecture No. 3, I will leave it at the end). What is happening now in the financial and banking sector of the world? This: 1 Industrial and Commercial Bank of China (ICBC) Assets: $ 4,009 billion. China. 2 China Construction Bank Corporation Assets: $ 3,400 billion. China. 3 Agricultural Bank of China Assets: $ 3,235 billion. China. 4 Bank of China ltd Assets: $ 2,991 billion. China. 5 Mitsubishi UFJ Financial Group Assets: $ 2,780 billion in Japan. 6 JPMorgan Chase Assets: $ 2,533 billion. 7 HSBC Holdings plc Assets: $ 2,520 billion. UK (England) 8 BNP Pariba Assets: $ 2,357 billion France. 9 Bank of America (BoA) Assets: $ 2,281 billion. 10 Crédit Agricole Assets: $ 2,117 billion France. 11 Wells Fargo & Co. US $ 1951 billion 12 Japan Post Bank Japan $ 1,874 billion 13 Citigroup US $ 1842 billion 14 Sumitomo Mitsui Financial Group Japan $ 1,775 billion 15 Deutsche Bank Germany $ 1,765 billion 16 Banko Santander Spain $ 1,736 billion 17 Mizuho Financial Group Japan $ 1,715 billion 18 Barclays Plc England $ 1,532 billion 19 Societe Generale France $ 1,531 billion 20 Groupe BPCE France $ 1512 Billion Here you have the Countries by Rating - Disasters! SOS! #France, EuropeanUnion, Japan, UnitedKingdom, Germany, Spain, - Hands Shake When I Write This! China - Generally Calm! And here the USA - Will Hold - Until the Last. And lie! A list of countries by the number of banks included in the “top 100 by total assets". Rating Country Number of banks in the top 100 European Union 36 China 18 USA 12 Japan 8 France 6 Great Britain 6 Canada 5 Germany 5 Spain 5 Australia 4 Brazil 4 South Korea 4 Sweden 4 Italy 3 Netherlands 3 Singapore 3 Belgium 2 Switzerland 2 Austria 1 Denmark 1 India 1 Norway 1 Russia 1 Taiwan 1 Dear Ukraine! The Main Sign of Inflation - Remember This Date Forever - It's Already 6 Monetary Inflation - The Same Rake! - The National Bank of Ukraine from September 25, 2019 gave banks the right to round off cash transactions in connection with the withdrawal of cash of small denominations of 1, 2 and 5 cents from cash circulation. When Will We Learn To Correct Our Mistakes? So Souls Suffered! No - Greed, Pride, All In Its Mouth! Tear up Baby! Greed Fraera Destroy! Decision: 1. Refusal of the Old Economic, Financial, Banking System of the World. Development - New Observing Interests of the Planet, Children, Animals, People! Considering the Latest and Planned Future Technologies. 2. Properly, Correctly, Distribute Existing Resources of Countries, Planets, Continents. Taking into account the Crisis! 3. Entering the Arena of 5 International Currencies - Not Subject to Inflation, Default, Crash! 4. The New System of State Enterprises - Strategic Industries - Property of Residents of the Country. 30% - DEVELOPMENT OF OWN PERSONNEL, 30% - NEEDS OWN PERSONNEL, 30% - PRODUCTION, 10% Management Board 40 people For managing this enterprise. This is Only 1 Industry - Banks. P.S. - May the Lord Protect you All! Save And Save You All May It Be So! In the Name of Our Lord Jesus Christ the Holy Spirit Amen 8 Times!

[@jmn1811hk]

Geeez. Cringeworthy. When a journalist doesn’t realize just how stupid he’s being.

[@bell191991]

No one can define the 'public interest' or 'the best interests of society'. Not any government parliament, not any government bureaucracy, not any French economics professor. The only the thing that can decide people's best interests are individuals deciding for themselves or their children. The only case where the government should have a say is for children who are being abused by their parents, or for the mentally insane.

[@arno222444]

No, not at all it would work only in an ideal society where the power is equally shared across the population. Individuals deciding for themselves is the best interest of the wealthier and more powerful people only.

[@bell191991]

arno222444 But that is exactly the kind of society we should be aiming for, one where people have control over their own lives. As long as the rich cannot coerce the poor, then that's not true. In a society where the powers of government are strictly limited, individuals deciding for themselves is the best way to protect the poor from being abused or being trapped in poverty.

[@bell191991]

arno222444 As soon as you allow people to set up a powerful government, it's precisely the rich people who are best placed to take control of it. That's why the middle class are totally dominant in our political system, and poor people basically never get a word in. The solution isn't to 'make the system more accessible', the solution is to deny politicians the power to control people's lives for them.

[@MrOliverwoods]

Self made ? This guy’s idea of self made is fucked to say the least.

[@bradcox3331]

Now that i've watched more than the first 10 seconds, I think it's safe to say that the interviewer's behaviour is disgusting and that my immediate dislike of his lack of professionalism within the first 10 seconds was not unfounded - his book doesn't have address the things the interviewer is suggesting in his tangent to be any more or less legitimate than what Piketty's book does address.

[@s.s.3296]

The journalist is a bully.

[@SalesmanPride]

Very interesting. Congratulations to the reporter who asks really good questions. Good performance to Mr. Piketty who makes the talk interesting.

[@Thinkingman69]

This journalist is extremely condescending.

[@sanpol4399]

be aware , because communism starts with ideas like this guy has.

[@tomgeurken2948]

You have no idea what communism actually is do you?

[@sanpol4399]

+Tom Geurken Yes. I do.

[@tomgeurken2948]

ok tell me what communism is and how Pikettys' ideas lead us there

[@sanpol4399]

+Tom Geurken man...you know what it is, I know what it is and we will not loose our time arguing about what it is. The point is if you are not aware that the communism is slowly digging it's space among the world, specially in ideas like this guy has, and spreading it even with wrong data, it is terrifying... everything starts slowly with ideas like this guy has. This is my opinion and at least let's agree that we disagree .

[@arno222444]

Very very stupid statement, communism starts based on growing wealth inequality and when a large part of the population cannot feed their kids properly and make sure that have a future they just don't sit down in the streets and die.

[@Pianoscript]

typical crappy bbc interview trying to oppose (to make a name for himself) instead of understand. I never liked this interviewer.

[@someoneelse.2252]

Who is this boneheaded interviewer, Evan Davis?. Is this his first interview?. Pathetic.