There is no such thing as National Debt in a fiat based currency economy, especially when petrodollars are the global standard currency. The Fed can and does print money at will and lend it out at Zero pct interest. The National Debt is a myth told to the populace to make them believe they live in a world of constant scarcity. Additionally that which is called the National Debt is merely one side of a Ledger, the other side is the US Economy, and any Debit on the National Debt side is a Credit on the US Economy side.
Finally, someone who see the system for what it is. I would add, the U.S. dollar being sovereign currency and the world's reserve currency and being the only currency the world bank and IMF operate in and having the largest, most advance military humanity has ever seen, spread across the globe, enforcing U.S hegemony, also gives the U.S. dollar it's power.
Oh, how? If the National Debt was $1T in 1980 and now is $31T and before Co-Vid we had the Greatest Economy ever, that is incongruent reasoning if you propose that the National Debt is actually a problem. According to you we should have had 3100% Inflation since 1980. We Have Not. And 60% or our current Inflation is caused by Corporate Profiteering after a Global Pandemic. You don't really know anything more that what Newsmax tells you. 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
7:00 Right the Fed is trying to achieve a Balance in the Economy, not a Balanced Budget which makes no sense in a Fiat Currency based Economy....But Bernanke can't bring himself to say that, so it sounds to most Folks who are uniformed like "Balanced Budget" like their HouseHold or Business. Folks the U.S. Government and its $23 Trillion Economy are not a Household, they create their own Money and control every aspect of it, it is a monopoly on the currency.
@@zachbates555 This crash was not directly started by a troubled credit system. The building was not structurally insufficient: there was an invasion from the outside. A pandemic is one of the ultimate Black Swans, meaning we would have very little in our arsenal to predict a pandemic at that EXACT moment. So, I wouldn't take the "For the coming crash this year" comment as prophetic. Therefore, I think that trying to solve the economic threats of a pandemic by trying to stimulate the economy as a first priority is not wise. If there was an attack on a building from the outside, it doesn't matter how quickly or how well you rebuild it: there will continue to be that attack which threatens the building so long as you don't deal with that first. Then, focus on rebuilding the building. Congressional Fiscal Policy is able to produce tremendous stimulus to fix a broken economy, WHEN the pandemic is under control. We are not there, in my opinion.
@@chrisbassani1152 LOLOLOLOL "the pandemic did it" .... right "we can raise interest rates in 15 minutes" SO WHY DIDN'T THEY?!?!?!?!?!?!?!?!?!!?!?!?!?!? pandemic shmandemic... unreal.
@@chrisbassani1152 Incompetent and tyrannical government officials that shut down our economy by effectively quarantining young and healthy people (something that had never been done before because of it's sheer absurdity) caused this "crisis"... And remember, The Left never lets a crisis go to waste, especially when they themselves manufactured it. Wake up, you sheep-like lemming.
There is no such thing as National Debt in a fiat based currency economy, especially when petrodollars are the global standard currency. The Fed can and does print money at will and lend it out at Zero pct interest. The National Debt is a myth told to the populace to make them believe they live in a world of constant scarcity. Additionally that which is called the National Debt is merely one side of a Ledger, the other side is the US Economy, and any Debit on the National Debt side is a Credit on the US Economy side.
Finally, someone who see the system for what it is.
I would add, the U.S. dollar being sovereign currency and the world's reserve currency and being the only currency the world bank and IMF operate in and having the largest, most advance military humanity has ever seen, spread across the globe, enforcing U.S hegemony, also gives the U.S. dollar it's power.
6:14 It's February, 2022, and Ben Bernanke has been proven DECISIVELY wrong.
Oh, how? If the National Debt was $1T in 1980 and now is $31T and before Co-Vid we had the Greatest Economy ever, that is incongruent reasoning if you propose that the National Debt is actually a problem. According to you we should have had 3100% Inflation since 1980. We Have Not. And 60% or our current Inflation is caused by Corporate Profiteering after a Global Pandemic. You don't really know anything more that what Newsmax tells you. 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
He said it 12 years ago, the idea that this money caused our current inflation is ridiculous.
7:00 Right the Fed is trying to achieve a Balance in the Economy, not a Balanced Budget which makes no sense in a Fiat Currency based Economy....But Bernanke can't bring himself to say that, so it sounds to most Folks who are uniformed like "Balanced Budget" like their HouseHold or Business. Folks the U.S. Government and its $23 Trillion Economy are not a Household, they create their own Money and control every aspect of it, it is a monopoly on the currency.
10 years later and Bernanke proves he's not Nostradamus.
I don't understand 60 minutes, why are you posting this now? What's the purpose?
Exactly why your watching it
This actually happened Rip
@@zachbates555 This crash was not directly started by a troubled credit system. The building was not structurally insufficient: there was an invasion from the outside. A pandemic is one of the ultimate Black Swans, meaning we would have very little in our arsenal to predict a pandemic at that EXACT moment. So, I wouldn't take the "For the coming crash this year" comment as prophetic. Therefore, I think that trying to solve the economic threats of a pandemic by trying to stimulate the economy as a first priority is not wise. If there was an attack on a building from the outside, it doesn't matter how quickly or how well you rebuild it: there will continue to be that attack which threatens the building so long as you don't deal with that first. Then, focus on rebuilding the building. Congressional Fiscal Policy is able to produce tremendous stimulus to fix a broken economy, WHEN the pandemic is under control. We are not there, in my opinion.
@@chrisbassani1152 LOLOLOLOL "the pandemic did it" .... right "we can raise interest rates in 15 minutes" SO WHY DIDN'T THEY?!?!?!?!?!?!?!?!?!!?!?!?!?!? pandemic shmandemic... unreal.
@@chrisbassani1152 Incompetent and tyrannical government officials that shut down our economy by effectively quarantining young and healthy people (something that had never been done before because of it's sheer absurdity) caused this "crisis"... And remember, The Left never lets a crisis go to waste, especially when they themselves manufactured it. Wake up, you sheep-like lemming.
wow ... "wait for the decisive moment to unwind the policy" .... turns out we waited until our hand was forced ... wut happens now
Timestamp???
I am laughing out of control ROFL
Is this new or old?
Actually it’s old...sorry.
It's old
Did you read the title, Shhh it's a secret
Scott pellely,are you slipping or am I, why did you not ask this $$$ dude about the Dodd Frank Laws? ???
Thank you mr bernke
A guaranteed income makes for a stable but boring economy unless you have a garden😂