Ostensibly THE BIGGEST SCAM IN THE HISTORY OF MANKIND (2 Viewers)

[flashtrick]

This video has been circulating the internet recently, spreading out to all social media outlets. It's going viral.

The problem with the video is its hidden agenda: selling gold and silver. Whoever produced the video is trying to get viewers to invest so that they, the company, can make a profit.

Any credit or truth made from this video?

 

[funkshen]

no, not really.

 

[isildurrrr1]

that video is good at scamming people into buying gold who don't understand how economics work.

 

[Sy123]

How about people rebut some of the points in the video instead of trying to create a straw man.

 

[JT145]

how come budget surpluses exist

 

[obliviousninja]

time to waste 30 min study time.

 

[funkshen]

how about right off the bat he calls himself a monetary historian and yet he has no qualifications and is not recognised as such, and that he says he is the author of a bestselling book that never sold best.

 

[JT145]

I reckon there are some aspects of the video that are true... just not all of it

 

[wannaspoon]

that video is good at scamming people into buying gold who don't understand how economics work.

aye! went to his little website... it was just marketing gold and silver... Albeit, it was a good idea to buy gold and silver back in 2006-2007... its not so much of a good idea now... I could be wrong but...

 

[Garygaz]

well the american monetary system was rigged from the start, it's not the greatest investment to buy federal bonds when the federal reserve can at any time decide to water your proportional holding down to near nothing by printing money and buying every bond in the market.

 

[wannaspoon]

I would actually buy rights to water... with an exploding worldwide population there is nothing that can hold the world at ransom more than water scarcity...

fuck gold and silver...

 

[isildurrrr1]

I would actually buy rights to water... with an exploding worldwide population there is nothing that can hold the world at ransom more than water scarcity...

fuck gold and silver...

Rights to water only works if you can control a water stream eg river or what not. Kinda hard to do that if you don't have a military behind you China and India are getting pissy over water in the Himalaya's.

Water scarcity will become a huge issue for the Indian subcontinent. You could always build a giant pipeline that has sustainable flow of water, just build a giant desalination plant and boom issue gone.

if you want to invest in a commodity, invest in graphene. that shit will change the world.

 

[SylviaB]

Albeit, it was a good idea to buy gold and silver back in 2006-2007... its not so much of a good idea now... I could be wrong but...

 

[SylviaB]

if you want to invest in a commodity, invest in graphene. that shit will change the world.

doesnt mean its (necessarily) a good investment

 

[flashtrick]

This wasn't meant to be a discussion on what to invest in...

Are we paying taxes to the government for debt that doesn't even exist? Are banks really multiplying money out of whim through fractional reserve banking?

 

[funkshen]

This wasn't meant to be a discussion on what to invest in...

Are we paying taxes to the government for debt that doesn't even exist? Are banks really multiplying money out of whim through fractional reserve banking?

unsurprisingly, the video has misled you

no, we don't pay taxes to the government for debt that doesn't even exist.

yes, that is how fractional reserve banking works. you leave your money with the bank and they lend it to others. shocking.

also, here is the current graph of the historical price of silver.

0% is a fantastic return over 4 years. invest in silver today!

 

[SylviaB]

also, here is the current graph of the historical price of silver.
0% is a fantastic return over 4 years. invest in silver today!

you do realise that I was responding to the bolded part, right? i thought that was kind of obvious

 

[flashtrick]

unsurprisingly, the video has misled you

no, we don't pay taxes to the government for debt that doesn't even exist.

yes, that is how fractional reserve banking works. you leave your money with the bank and they lend it to others. shocking.

also, here is the current graph of the historical price of silver.

0% is a fantastic return over 4 years. invest in silver today!

I'm not saying I believe the video; I just wanted to know if there was any ounce of truth in it.
Would you mind giving me an explanation on how the system actually works?
Not all of us know much about economics and you shouldn't treat them like idiots...

 

[funkshen]

you do realise that I was responding to the bolded part, right? i thought that was kind of obvious

wasn't really trying to criticise you, but inform anyone else about the returns on silver since 2010.

I'm not saying I believe the video; I just wanted to know if there was any ounce of truth in it.
Would you mind giving me an explanation on how the system actually works?
Not all of us know much about economics and you shouldn't treat them like idiots...

there's always an ounce of truth in a conspiracy theory.

sorry for treating you like an idiot, but that's exactly what that video does - and it works. i don't know how i could ever explain 'how the system works', as doing so would involve the reduction of an incredibly complex phenomenon to something misleadingly simple and woefully inaccurate. the wikipedia entry for fractional reserve banking is instructive. this is a good video explanation of FRB. i do this for you because you google 'fractional reserve banking' at your own peril', as you will generally only find a reiteration of the fallacious interpretation provided in the original video.

the economic consequences of fractional reserve banking are perhaps misunderstood in orthodox economic theory, but not for any of the reasons in the original video.

 

[alekovic]

Investment in precious metals like silver and gold is primarily driven by fear and emotion, which is what this video is trying to tap into (as you can see in the silver graph data, silver prices were extremely bullish in the years subsequent to the GFC and the collapse of Europe- then right back down!). You will come across people who think gold is the apparent answer to everything. It's not. The market is extremely volatile and uncertain. A lot of investors tend to only trade gold in an attempt to hedge and/or mitigate risk against other investments. This idea that gold and silver will come to the rescue in times of economic downturn is laughable.