December 30, 2008
– Comments (2)
I think it is important of you are in this game, you should understand this basic concept.
Abit - Interesting video, but I have a few thoughts and comments.
1. If the economic system is like a game of musical chairs, where one person loses because there are not enough seats; musn't we conclude that the weakest member is the one who gets eliminated? And of course as a follow up, isn't that good for the herd?
2. Aboloshing the fed could create an economy where we have actual limits - Take the gold standard. We can't bailout every failed enterprise because there's not any real money to do so. Debt turning into currency is a mask for terrible corruption. And who would invest in a company with poor prospects of repayment and terrible corporate practices...Oh yeah the US tax payer!!!!
3. What are the requirements to start a bank? That seems to be the only way to make obscene ammounts of cash.
Nice. Although I didn't realize it was "two hours and three minutes" and not "two minutes and three seconds" until I started watching it.