I agree completely. Humanity is the only species on Earth which pays to survive upon it while the greedy 1% are raking it in. Jaques Fresco would spin in his grave!!!
I really admire and respect Yanis. He's a very knowledgable man. There are a few points that didn't make sense to me. Central bank digital currencies sound dystopian to me. The government as well as easily giving you money, can also stop you spending it (and monitor what you spend it on). This was happening in China already. I think that is naive of somebody who already criticises the corruption of goverments. Also, with an ageing population, I didn't get how printing more money and increasing production would control inflation. sooner or later the market will shrink, due to saturation and/or a shrinking population. I'm not an economist, so maybe I'm missing something.
The issue is that a government is supposed to represent the populations interested as opposed to a financial elite. Nothing changes until that main issue is addressed.
Excellent interview! (1) Raising taxes for the Rich/Corporations who profit-ed, (2) Printing money to support Universal Basic Income for the Needy ONLY, this time round, and (3) Funding GREEN Energies 'cause it's got a deflationary impact & saves livable Earth.
Printing money for UBI will destroy the poor. Look at what happened to grocery prices after the government gave out free money in 2020, 2021. If the dollar inflates 50%, your effective wages have just been cut in half, and you don't even realize it.
The Economy is The Congress. Democracy, the rule of the people, is based on three pillars 1. Everyone has an equal vote. 2. Voting is not obligatory, ie veto (You may have to vote, but 'none of the above' must be an option). 3. The way you vote is private. Voting with ballots is for suckers. Voting with money is a much better idea. That does not preclude diversity of wealth or the opportunity to achieve anything you want in life. Social Democracy is achieved with unconditional basic income, an equal dividend of tax wealth for everyone, rich and poor alike. Political Democracy, however, can be augmented with a Conditional Income which must be spent in an Ultruistic Congressional Crowd Fund. In this Crowd Fund, everyone has 1. an equal amount of money 2. do not have to take part. 3. are anonymous in their choice. This is how you can use money to vote instead of ballots and make it democratic. By understanding economies as congressional, either partially in the case of UBI, or totally in the case of CBI, we can see we don't really live in a democracy at all, because the power of decision making is not ballots, but money. If we can demand an augmentation to our political system with an Alturistic Congressional Crowd Fund we could transition to a brighter more altruistic future full of potential and opportunity. Let me use an example for the UK, Foreign Aid. Create an Ultruistic Congressional Crowd fund for Foreign Aid, fill it with the campaigns of applicants for this aid, split the budget for foreign aid equally and proportionally as a credit into each citizen's Crowd Fund Account and let the people spend their way to the democratic decision on how that foreign aid money should be spent. Tax needs to be levied on the Demand, in every case. The only fair tax, is a tax on demand. If Tax on demand is levied at every stage of the supply chain (rather than at the end of the supply chain as in the case of UK VAT) the problem is solved. So there is a small tax on each transaction for goods or services; that's how the banks make money, every time someone uses a card to pay for something the bank takes a small percentage. That way we could over time abolish all other taxes like income tax, VAT, inheritence tax etc. Sponsor individuals and tax demand would create a very nice demand driven economy.
A.I governance is coming, "Voting" from phone via secure quantum resistant blockchain is also coming. Techno Feudalism is already here imo. I read the new global tax rate will be 15% instantaneously on DLT = new financial rails. The future is 100% digital. 99% of the world will be using UBI. A digital-world like this *"should"* have 0 crime supposedly. No homelessness they claim etc etc. The supply chain & trade industry revamp has already occured during C-19. Have you heard of XinFin network and its asset *XDC* ? Or its connection to UK's *ETDA* trade act?
Yanis Varoufakis at the 2022 Global Investment Form made it clear he does not understand inflation. Inflation comes from too much money chasing too few goods. Which is the reason why we have huge inflation 2022 after the pandemic created too few goods because of lock down. It has nothing to do with 2008 . That is gone Janis. You are living in the past.
Yeah, all those stimulus checks that were spent two years ago are totally causing a demand-pull inflation... lol Even neoliberal economists have come to acknowledge the existence of cost-push and built-in inflation. Friedman was wrong. Kalecki was right. Pretending otherwise isn't doing you any favors.
Oh he understands it alright. The thing is that it’s become a paradox in how we live to the point where you have to ask about the people running the system “what are they thinking?”. THAT’S what he doesn’t understand Einstein, and even that is sarcastic. But it flies over your head.
Inflation is actually FRAUD + Hidden Tax + Economic E-Brake + Competition/Bank/Class-Killer etc, etc. Evil genius at its best! Ayn Rand [1957] & Mr.Sowell [1970] predicted all were seeing today + more to come
Great conversation. Yanis is a very capable thinker. 31:40 the part talking about the quantity theory of money and it's fallacy is pure gold
I agree completely. Humanity is the only species on Earth which pays to survive upon it while the greedy 1% are raking it in. Jaques Fresco would spin in his grave!!!
I really admire and respect Yanis. He's a very knowledgable man.
There are a few points that didn't make sense to me. Central bank digital currencies sound dystopian to me. The government as well as easily giving you money, can also stop you spending it (and monitor what you spend it on). This was happening in China already. I think that is naive of somebody who already criticises the corruption of goverments.
Also, with an ageing population, I didn't get how printing more money and increasing production would control inflation. sooner or later the market will shrink, due to saturation and/or a shrinking population.
I'm not an economist, so maybe I'm missing something.
The issue is that a government is supposed to represent the populations interested as opposed to a financial elite. Nothing changes until that main issue is addressed.
Hey! I vote for this guy in my country.
Excellent conversation!
Excellent interview! (1) Raising taxes for the Rich/Corporations who profit-ed, (2) Printing money to support Universal Basic Income for the Needy ONLY, this time round, and (3) Funding GREEN Energies 'cause it's got a deflationary impact & saves livable Earth.
Printing money for UBI will destroy the poor. Look at what happened to grocery prices after the government gave out free money in 2020, 2021. If the dollar inflates 50%, your effective wages have just been cut in half, and you don't even realize it.
“Any sufficiently advanced technology is indistinguishable from magic.” - Arthur C Clarke.
Starts at 2:12
Uhhh no one gonna talk about the tech companies owning our proof of identity rights and data...
Yanis is too smart, that makes so much sence so they will not do it
Excellent
Edward . Bernays is the founder of Don Draper and Created Taylor's all Propaganda from 1908.
The Economy is The Congress. Democracy, the rule of the people, is based on three pillars 1. Everyone has an equal vote. 2. Voting is not obligatory, ie veto (You may have to vote, but 'none of the above' must be an option). 3. The way you vote is private. Voting with ballots is for suckers. Voting with money is a much better idea. That does not preclude diversity of wealth or the opportunity to achieve anything you want in life. Social Democracy is achieved with unconditional basic income, an equal dividend of tax wealth for everyone, rich and poor alike. Political Democracy, however, can be augmented with a Conditional Income which must be spent in an Ultruistic Congressional Crowd Fund. In this Crowd Fund, everyone has 1. an equal amount of money 2. do not have to take part. 3. are anonymous in their choice. This is how you can use money to vote instead of ballots and make it democratic. By understanding economies as congressional, either partially in the case of UBI, or totally in the case of CBI, we can see we don't really live in a democracy at all, because the power of decision making is not ballots, but money. If we can demand an augmentation to our political system with an Alturistic Congressional Crowd Fund we could transition to a brighter more altruistic future full of potential and opportunity. Let me use an example for the UK, Foreign Aid. Create an Ultruistic Congressional Crowd fund for Foreign Aid, fill it with the campaigns of applicants for this aid, split the budget for foreign aid equally and proportionally as a credit into each citizen's Crowd Fund Account and let the people spend their way to the democratic decision on how that foreign aid money should be spent.
Tax needs to be levied on the Demand, in every case. The only fair tax, is a tax on demand. If Tax on demand is levied at every stage of the supply chain (rather than at the end of the supply chain as in the case of UK VAT) the problem is solved. So there is a small tax on each transaction for goods or services; that's how the banks make money, every time someone uses a card to pay for something the bank takes a small percentage. That way we could over time abolish all other taxes like income tax, VAT, inheritence tax etc. Sponsor individuals and tax demand would create a very nice demand driven economy.
A.I governance is coming, "Voting" from phone via secure quantum resistant blockchain is also coming. Techno Feudalism is already here imo. I read the new global tax rate will be 15% instantaneously on DLT = new financial rails. The future is 100% digital. 99% of the world will be using UBI. A digital-world like this *"should"* have 0 crime supposedly. No homelessness they claim etc etc. The supply chain & trade industry revamp has already occured during C-19. Have you heard of XinFin network and its asset *XDC* ? Or its connection to UK's *ETDA* trade act?
Namnożyło się.
Szkoda tylko ,że nikt nie pomyślał o skutkach konsekwencjach dla przeszłości.
Yanis Varoufakis at the 2022 Global Investment Form made it clear he does not understand inflation. Inflation comes from too much money chasing too few goods. Which is the reason why we have huge inflation 2022 after the pandemic created too few goods because of lock down. It has nothing to do with 2008 . That is gone Janis. You are living in the past.
what about inflation as a consequence of the massive amount of QE in response to 2008, to save the banks?
Yeah, all those stimulus checks that were spent two years ago are totally causing a demand-pull inflation... lol
Even neoliberal economists have come to acknowledge the existence of cost-push and built-in inflation. Friedman was wrong. Kalecki was right. Pretending otherwise isn't doing you any favors.
Demand pull inflation
Cost push inflation
Built in inflation
Weird how there's more than one side to an equation albert.
Oh he understands it alright. The thing is that it’s become a paradox in how we live to the point where you have to ask about the people running the system “what are they thinking?”. THAT’S what he doesn’t understand Einstein, and even that is sarcastic. But it flies over your head.
Inflation is actually FRAUD + Hidden Tax + Economic E-Brake + Competition/Bank/Class-Killer etc, etc. Evil genius at its best! Ayn Rand [1957] & Mr.Sowell [1970] predicted all were seeing today + more to come