Out-of-Topic! You couldn't realize how beautiful is to listen intellectual talks in English with Greek accent, thanks of this pronunciation I can understand 100% of it! (from Italy)
@@alexandrosanastasiadis3372 Greek accent is one of the most annoying on earth. I don't have a problem admitting that, and I'm Greek. What you are expressing, however, is instead the tremendous chip on your shoulders that you have for Americans. The upshot is they don't even know you exist.
@@edwardbrennan7140 Perhaps...but all with the same supreme deity (or Minotaur) - FINANCIALIZATION. Without it there is no "loaves & fishes" act, created with 1's and 0's
se (sorry for jump) his analyses are sensible, convincing, are anchored to logical argumentation. He is a fascinating economist and has the courage to express truths.
Dear Yanis, let me tell you that you are a guy with very big guts and enough corague to challenge the fraudulent and pride academicians in economics of the world telling them the turth in their faces.Let me tell you that this not only occurs in economics but in all the sciences, more or less, where much lies are thaught and nobody has the guts to stop them and tell them the truth. My enormous appreciation to you. :-) :-) :-). Keep on going because sooner or later this castle on the air will fall like a stone at 9,8 m/s2...
To every little mind that talks bad about Greece and any other country that has problems, like Greece or even worse, I have to say only one thing: "What goes around, comes around." All countries in history experienced financial problems. Ask your parents, your grandparents. Go read and learn. You are free to be arrogant, ignorant and rude. Be my guest. But never, ever forget that what goes around, comes around. ;o)
The answers given at 1:14:30 from Yanis Varoufakis and Justin Fox are the primary subject any student at any University, at any subject, is actually facing and it becomes the most important thing of studying; more important than the tittle (BA, Masters, Dr, etc.) itself. The bad thing is that IF you discover this and focus on this then you MIGHT not earn enough money or have a steady job to live as you wanted.
Why is gold valuable? It has integrity (it doesn't tarnish), it's fungible (it can be divided into smaller units), it's finite and rare ( you can't devalue the stuff by printing more of it), and finally, it is aesthetically pleasing and has been valued across cultures over thousands of years.
But it doesnt have intrensic value. The meso-american societies saw gold not as a currency or valueble thing, but as abundant metal, easy to manipulate, and therefore, of low value
In the book the author writes that a surplus recycling mechanism is necessary for fixed exchange rates systems. However after the collapse of Bretton Woods no such system was in place. Varoufakis does not explain why according to him the US chose to run current account deficit and balance it with the capital account in a mechanism he calls the global Minotaur, instead of eliminating the former by devaluing the dollar.
Great video. Thanks, Writing this in April 2021: If I do not convert my currency to Gold and Silver, how do I preserve my savings/ wealth. May be in 2011 the Professor did not expect FED to print so outlandishly during the 2011-2021 decade. I buy Gold not because it will "go to moon" but because it will preserve the value of my savings better than holding it in the form of INR (Indian fiat currency). Yes, Gold has value because someone believes in it but imo faith in Gold will remain much longer than faith in the fiat currency. Am I wrong? Thanks, Regards,
One thing is the gold for "personal savings" and another the *idea* of "supporting" the value of a national currency on gold, in the first you just throw a bunch of plates on your basement, in the second you are a country that want to make his currency valuable ("backing it" on gold), in this conference Varoufakis does not goes too deep on *why* fiat currency is "unavoidable".
@Crossover521 I assumed you must be an economics teacher by your explaination, I dont think you were wrong, I was just trying to take your concept further. Spain became a world superpower by finding Silver in Potosi, on the West coast of S. America, they were able to under-cut the Portugese by having a shorter route to China. The Chinese deemed silver to have some sort of magic powers, then suddenly it went out of fashion, and that was the begining of the end of Spain's empire.
+GazBoy Sure, but in a rather destructive and disturbing way. Debt/money recycling will always appear. The point being made is in what way we should allow the recycling to occur? Do we go for bust, risking political/social disasters as been witnessed during WW2 (and 1 for that matter), and what seem to be happening right now, or are we trying to cope or control it in a civilized manner as proposed in Yanis Varoufakis' talk....?
THe field of economics and the 'facts' of that field has never made sense to me in a fact demanding scientific atmosphere. The stock market has used a kind of mathematical-psychiatric concept to extremes that can happen only in this slot, imo technology of a different kind has been created but I am witness and participant to the effects of this very great level in the time slot of a world that we humans are engaged by in our material body. The analysis of Varoufakis is simply brilliant ! it should be embedded in the World worlds ' Mind.
@Crossover521 I have bad memory for languages, spelling, peoples names, but I never forget first Economics lesson in school, Teacher said the same thing as u. Moon a gd example, bcause it illustrates NEED side of equation, even high gold price would not cover travel cost, but world need 2 move goods+people could at fraction of 1744. Gold production on a commercial scale is v. expensive...Platinum much more so, some say, costs 1680 to produce, surely a sign of crazy economic times.
@Crossover521 The price of gold is linked to interest rates...I now understand that fundermental now...It cost money to store Gold, it cost money to prove the purity of gold, gold is not very liquid. It becomes overvalued when interest rates fall below inflation. Some people who should know better seem too take things too far. It helps to have a historical perpective, I read extracts of a book called 'Now things are different, A history of financial folly' ...Thanks for your reply
It actually doesn't cost money to validate gold as genuine. Gold has a very specific density. Gold coins have very well defined dimensions and masses. Gold is also non-magnetic. When heated it becomes brighter rather than darkening. And it also has a unique musical note. A troy ounce of gold ''rings true'' with the same note for each coin. These tests for gold are usually sufficient for most purposes. Minted gold coins like the Britannia have several features in their design that are very difficult to reproduce. Just don't be an idiot and you can be quite sure your gold is genuine. But do test it. Don't just believe whoever is selling. I buy from a bullion dealer but I check that what I'm getting is genuine. I've heard stories of the Canadian mint having fake maple leaf coins. How they got into the mind is a mystery but they did. Then I remembered who is running that country and I could believe anything. The image of honest, polite, trustworthy Canada lies in tatters these days.
To slay the Minotaur, deprive it of food..... If we as a Human Society dropped the use of Money, the Minotaur would starve to death..... The use of money is an ingrained concept, developed since the Sumerians invented Coins. That is a difficult task to overcome..... Are Humans intelligent enough to face the fact that we need to drop the economics of Greed, or allow it to consume us.....
I recommend that these learned gentlemen consult the teaching lectures of professor Wen Tiejun from China to gain input as to how China had done it and is doing it.
1978 - November 9th. Paul Volcker delivered the Fred Hirsch Memorial Lecture at Warwich University in England [entitled ‘The Political Economy of the Dollar’]. Volcker’s speechatnyfedeconomistsdotorg/research/quarterly_review/1978v3/v3n4article1dotpdf
As someone not educated in finance I learned fom catching Max Kaiser, he makes valid points, he would have had more credibility to me, if he spoke about Putin with the same language he uses about bankers. Best 1.5 hrs I spent in a long time, I did not understand how gold can be worth more than Platinum, ofcourse any 'fiat' currency like the Swiss franc can also go up in a time of uncertainty, but that is not necessarily a reflection of long term use or value.. Your last comment nailed it thanks
@Sapocati I think Economics can be tricky to explain well, because there is a big element of human psycology involved, eg Maslow's Hierachy Of Needs. Think of how anxious people are to own the latest I-phone, with more capacity than they will probably ever use, now imagine the day when there is no longer any food in supermarket shelves, very suddenly the 'need' to own an I-phone just fades away.
@Crossover521 High cost of going to Moon does not justify resulting deflation, because not allot of use for it. Not even if it was made of a metal with better qualities, Platinum.If the moon was made of hydrocarbons however...yes they would, because of many uses for it. Nice thought experiment. 70-80s had higher inflation and high interest rates, so many factors have an effect, it b hard to simplify problem, Things affected by less facotrs should be easier to judge in my opinion.
And varoufakis i hope you sucker more people into buying your book you really need money for that macro retirement you will taking soon i see you are a smart man.
57 minutes in Yannis raises the question about Metal as a measure of worth..... That concept returns us to the Sumerian invention of coins...... But the current grip that the players now offer, includes Robert Mercer who bought a portion of Brexit, for personal political economic reasons..... The implications of Brexit, and the Gold held by the USA and British Banks puts the two vaults of Gold allied once again against the forces of Europe in a situation similar to the one in WW2.... Is Mercer, who seems to have franchised his marketing program to the GOP now proposing to make an alliance of the US and Britain as the Gold Standard Bearers, who can dictate terms to the economic world of traders.... Or we the people could abandon the concept of all coins or even metals to determine worth..... The real question is, have Humans advanced as a species enough to accept this idea? The possibility is real, the question has never been asked..... The economists may not like their having to find a new position in life that justifies their existence...... The Banksters may feel equally alienated.....
@Sapocati P.s I think the Moon would be an ideal place to dispose waste, radioactive and highly toxic matirial...Yet all we can think of is of what riches might be there. Our decendants will wounder at the stupidity of defacating in the same place we live and eat. We are yet to evolve out of the small village mentality, and start to become global citizens.
Implications of Political leadership that supports common interests, like the equality of humans and the distribution of wealth, seems to be overcome by the cost of politicians..... The current cost of election process in the USA has reached 14 billion dollars per election cycle, and inflation is raising the numbers every cycle by at least double.... The inflated cost of politicians has removed the element of Democracy, as Yannis seems to indicate, from the average human, and handed the selection of politicians to those who can afford to become Majority Investors in the political marketplace..... The only solution is for the average humans to drop the use of money as a measure of worth..... Remove the leverage and restore actual Democracy.....
how and why did the US manage to lose its surplus? It appears to me that the cost of high consumption of the public seriously cut into profits of US firms .
1:29 cognitive dissonance. This reminds me a person say who believes in something and has been lecturing it for a long time, say 40-50 years .Think how hard it is for him, nearly impossible to say he could have been mistaken. It takes a lot to turn the ship around.
judgenap Well, Yanis Varoufakis is actually very openly admitting that economics is mostly BS. He says it himself many times, though he admits that he needed to spend half his life in academia in order to get people's attention, and be taken seriously. I think he actually enjoys admitting this a great deal, he smiles every times he says it. If nothing else, at least he's smart enough to have the self awareness to not take his field, and indeed his life's work, that seriously. I find that pretty inspirational.
The verdict is pronounced that fictitious capital does not exist ( I proposed Fictitious Kapital ( F.K. ) starting with big storm like crisis of 1997 in S.E. Asia in 1997 following that of Argentinian desaster since 1992 , and continued after misterious '' Fall of Socialist Camp '' iin 1989 affecting East Europe and later on Russia followed strangely by China , that were apparently unrelated to Capital's Minotaur devouring humanity , but still that we have to see it come back , regularly after 1980's 1991, 1997 , 2007-2008, 2014, 2020 ( veilled ' somewhat ' by apparently coinciding with an unrelated Virus , Corona , changed into COVID19 , supposedly a world war ooops a world pandemic , as a smoke screen ! The big problem to see for economists ( ??) , is : '' what if there were no surplus in a system to recycle ? '' I proposed this open-cap crypto (not Bit-coins limited to 21 million coins ! ) , decentralized and non-speculative , world standard to be caaled social accreditation STATUS of individual producers, consumers or social actors ! No mythical Monitaur needed to exploit us or to be rubbed by bullies for ordinary socially active humans , from birth to the end of times ! I am ready to confront anybody to prove the opposite of no fictitious capital exists , as if the GODS are recreated to shut us up !
How Professor Varoufakis's students are able to concentrate on the dismal science being taught by this handsome Greek hunk, is quite frankly, beyond me.
Bingo - his looks, stochastic look and tone of voice trying to command gravitas are the reason he has an appeal, not his substance. If his students looked beyond that and concentrated, they would realise he is a cuckoo-land clown populist who has nothing tangible to say apart from utopian, incoherent nonsene, generalisations and contradictions sprinkled with fancy academic terminology in an attempt to sound intelligent through obfuscating what essentially is a non argument. This is a common problem of our generation across the world and on every level - of people focusing on, or being distracted by materialism and looks while missing the substance (or rather, the lack of it in Yanis's case).
Yanis is seemingly open about economics and supports, to a degree, Central Bank structure according to his own words. He speaks negatively about gold in these public spheres but am willing to bet here in 2022 that he probably owns gold privately. No one asks him this question. Why? People are so bazaar. They take this man’s word as if it’s gospel. I am not putting Yanis down. Just want the truth about what he does privately. That speaks much louder than public words from the pulpit.
He has volunteered this information - he does not own stocks or shares but I can't recall what he said about commodities. Will return to TH-cam for the info.
What a time to be alive that such profound content is readily available to everyone to watch for free. Information is power.
Out-of-Topic!
You couldn't realize how beautiful is to listen intellectual talks in English with Greek accent, thanks of this pronunciation I can understand 100% of it! (from Italy)
***** I so share your sentiments, it is sexy.
generaly its great to listen them talks in enginsh in ANY OTHER accent than english lol
English with a “ crunch”
@@alexandrosanastasiadis3372 Greek accent is one of the most annoying on earth. I don't have a problem admitting that, and I'm Greek. What you are expressing, however, is instead the tremendous chip on your shoulders that you have for Americans. The upshot is they don't even know you exist.
The analysis of Varoufakis is simply brilliant !
"The way to understand the economics profession: firstly, it's not science, it's a religion with equations." YV
More like many religions....
@@edwardbrennan7140 Perhaps...but all with the same supreme deity (or Minotaur) - FINANCIALIZATION. Without it there is no "loaves & fishes" act, created with 1's and 0's
That's why I wonder if he knows what he's talking about.
Its not a Religion its a system which you cant change by talking: you need to develop a counter system AND execute it.
That is a statement from a student that loves copying in economics exams.
I love it when anyone can speak openly without reading it from a piece of paper or teleprompter.
se (sorry for jump) his analyses are sensible, convincing, are anchored to logical argumentation. He is a fascinating economist and has the courage to express truths.
Dear Yanis, let me tell you that you are a guy with very big guts and enough corague to challenge the fraudulent and pride academicians in economics of the world telling them the turth in their faces.Let me tell you that this not only occurs in economics but in all the sciences, more or less, where much lies are thaught and nobody has the guts to stop them and tell them the truth. My enormous appreciation to you. :-) :-) :-). Keep on going because sooner or later this castle on the air will fall like a stone at
9,8 m/s2...
Varoufakis is indeed a brillant speaker, a genius !
Varoufakis is a genius
To every little mind that talks bad about Greece and any other country that has problems, like Greece or even worse, I have to say only one thing: "What goes around, comes around."
All countries in history experienced financial problems. Ask your parents, your grandparents. Go read and learn.
You are free to be arrogant, ignorant and rude. Be my guest.
But never, ever forget that what goes around, comes around. ;o)
Greece is the canary in the coal mine
@@noooreally one of them.
The answers given at 1:14:30 from Yanis Varoufakis and Justin Fox are the primary subject any student at any University, at any subject, is actually facing and it becomes the most important thing of studying; more important than the tittle (BA, Masters, Dr, etc.) itself. The bad thing is that IF you discover this and focus on this then you MIGHT not earn enough money or have a steady job to live as you wanted.
we know surprisingly little about how the world economy works
While true this is like saying we don’t fully understand the infinitely fractally complex way the whole world has self organized
This is sooooo informative! Thank you Yanis.
Thank you Yanis
Why is gold valuable? It has integrity (it doesn't tarnish), it's fungible (it can be divided into smaller units), it's finite and rare ( you can't devalue the stuff by printing more of it), and finally, it is aesthetically pleasing and has been valued across cultures over thousands of years.
But it doesnt have intrensic value. The meso-american societies saw gold not as a currency or valueble thing, but as abundant metal, easy to manipulate, and therefore, of low value
BRAVO YANI !! from NYC.
I liked the last 4 words - a ton of gold is a ton of useless bollocks [pardon my French] : leave it in the ground - save miner's lives
THIS GUY IS BALLER AS FUCK
ee ti piacerebbe che fosse come dici
Alex Nicolaou tell me why, do you even understand what I've said above?
Platemaster i am sorry for swearing, the email a have send you it meant to be for someone else ,my apology
They should Think about making transcripts of this talk.
Very helpful to get a perspective from outside the 🇺🇸 media, which seems to be increasingly self-censored and divisive, imo. Thank you!🙏🏻🦃😉🦄🗽👼🏻
This is 10 years old and it's exactly the same today
In the book the author writes that a surplus recycling mechanism is necessary for fixed exchange rates systems. However after the collapse of Bretton Woods no such system was in place. Varoufakis does not explain why according to him the US chose to run current account deficit and balance it with the capital account in a mechanism he calls the global Minotaur, instead of eliminating the former by devaluing the dollar.
Because they cant
Forum ini bagus untuk belajar mendengarkan presentasi dalam bahasa Inggris
47:00 The Story that matters so much!
Great video. Thanks,
Writing this in April 2021: If I do not convert my currency to Gold and Silver, how do I preserve my savings/ wealth. May be in 2011 the Professor did not expect FED to print so outlandishly during the 2011-2021 decade. I buy Gold not because it will "go to moon" but because it will preserve the value of my savings better than holding it in the form of INR (Indian fiat currency). Yes, Gold has value because someone believes in it but imo faith in Gold will remain much longer than faith in the fiat currency. Am I wrong? Thanks, Regards,
One thing is the gold for "personal savings" and another the *idea* of "supporting" the value of a national currency on gold, in the first you just throw a bunch of plates on your basement, in the second you are a country that want to make his currency valuable ("backing it" on gold), in this conference Varoufakis does not goes too deep on *why* fiat currency is "unavoidable".
Economics is not science but a religion with formulas - Yanis
Varoufakis should be listened to and the reasons should be obvious becau
Brilliant; now on crash of 2020.
@Crossover521 I assumed you must be an economics teacher by your explaination, I dont think you were wrong, I was just trying to take your concept further. Spain became a world superpower by finding Silver in Potosi, on the West coast of S. America, they were able to under-cut the Portugese by having a shorter route to China. The Chinese deemed silver to have some sort of magic powers, then suddenly it went out of fashion, and that was the begining of the end of Spain's empire.
can we say that now is a mechanism of recycling debt?
+GazBoy Sure, but in a rather destructive and disturbing way. Debt/money recycling will always appear. The point being made is in what way we should allow the recycling to occur? Do we go for bust, risking political/social disasters as been witnessed during WW2 (and 1 for that matter), and what seem to be happening right now, or are we trying to cope or control it in a civilized manner as proposed in Yanis Varoufakis' talk....?
THe field of economics and the 'facts' of that field has never made sense to me in a fact demanding scientific atmosphere. The stock market has used a kind of mathematical-psychiatric concept to extremes that can happen only in this slot, imo technology of a different kind has been created but I am witness and participant to the effects of this very great level in the time slot of a world that we humans are engaged by in our material body. The analysis of Varoufakis is simply brilliant ! it should be embedded in the World worlds ' Mind.
54.03 "it creates a lot of wealth" without stating for whom.
@Crossover521 I have bad memory for languages, spelling, peoples names, but I never forget first Economics lesson in school, Teacher said the same thing as u. Moon a gd example, bcause it illustrates NEED side of equation, even high gold price would not cover travel cost, but world need 2 move goods+people could at fraction of 1744. Gold production on a commercial scale is v. expensive...Platinum much more so, some say, costs 1680 to produce, surely a sign of crazy economic times.
Outstanding presentation by Yannis - Spiti dixos Yanni prokopi den kani...
2021 here we are
@Crossover521 The price of gold is linked to interest rates...I now understand that fundermental now...It cost money to store Gold, it cost money to prove the purity of gold, gold is not very liquid. It becomes overvalued when interest rates fall below inflation. Some people who should know better seem too take things too far. It helps to have a historical perpective, I read extracts of a book called 'Now things are different, A history of financial folly' ...Thanks for your reply
It actually doesn't cost money to validate gold as genuine. Gold has a very specific density. Gold coins have very well defined dimensions and masses. Gold is also non-magnetic. When heated it becomes brighter rather than darkening. And it also has a unique musical note. A troy ounce of gold ''rings true'' with the same note for each coin. These tests for gold are usually sufficient for most purposes. Minted gold coins like the Britannia have several features in their design that are very difficult to reproduce. Just don't be an idiot and you can be quite sure your gold is genuine. But do test it. Don't just believe whoever is selling. I buy from a bullion dealer but I check that what I'm getting is genuine. I've heard stories of the Canadian mint having fake maple leaf coins. How they got into the mind is a mystery but they did. Then I remembered who is running that country and I could believe anything. The image of honest, polite, trustworthy Canada lies in tatters these days.
To slay the Minotaur, deprive it of food.....
If we as a Human Society dropped the use of Money,
the Minotaur would starve to death.....
The use of money is an ingrained concept,
developed since the Sumerians invented Coins.
That is a difficult task to overcome.....
Are Humans intelligent enough to face the fact
that we need to drop the economics of Greed,
or allow it to consume us.....
I recommend that these learned gentlemen consult the teaching lectures of professor Wen Tiejun from China to gain input as to how China had done it and is doing it.
China has many, many big problems.
The Olympic is going down. Discussions are being held concerning past and future arrangement of the deck chairs.
1978 - November 9th. Paul Volcker delivered the Fred Hirsch Memorial Lecture at Warwich University in England [entitled ‘The Political Economy of the Dollar’]. Volcker’s speechatnyfedeconomistsdotorg/research/quarterly_review/1978v3/v3n4article1dotpdf
www.newyorkfed.org/medialibrary/media/research/quarterly_review/1978v3/v3n4article1.pdf
Yanis varoufakis ✊
Follow his Brilliant Mind. 🌍
The 2008 crisis was the Third Oil Crisis, caused by the invasion of Iraq, which multiplied the price of oil.
Is Justin Fox Matthew Perry's and Kyle Maclachlan's love child?
As someone not educated in finance I learned fom catching Max Kaiser, he makes valid points, he would have had more credibility to me, if he spoke about Putin with the same language he uses about bankers. Best 1.5 hrs I spent in a long time, I did not understand how gold can be worth more than Platinum, ofcourse any 'fiat' currency like the Swiss franc can also go up in a time of uncertainty, but that is not necessarily a reflection of long term use or value.. Your last comment nailed it thanks
@Sapocati I think Economics can be tricky to explain well, because there is a big element of human psycology involved, eg Maslow's Hierachy Of Needs. Think of how anxious people are to own the latest I-phone, with more capacity than they will probably ever use, now imagine the day when there is no longer any food in supermarket shelves, very suddenly the 'need' to own an I-phone just fades away.
@Crossover521 High cost of going to Moon does not justify resulting deflation, because not allot of use for it. Not even if it was made of a metal with better qualities, Platinum.If the moon was made of hydrocarbons however...yes they would, because of many uses for it. Nice thought experiment. 70-80s had higher inflation and high interest rates, so many factors have an effect, it b hard to simplify problem, Things affected by less facotrs should be easier to judge in my opinion.
And varoufakis i hope you sucker more people into buying your book you really need money for that macro retirement you will taking soon i see you are a smart man.
The Algorithm always remembers.
It's true, gold just causes bubbles, and since we abandoned the gold standard there have been none.
Long live communism and freedom
Some economists are like the Delphi oracle - Yanis
Is genius
Germany is safe. Do not worry about that. Thank you for your Hrlp
# Gold Amount of world physical gold, number of paper titles in gold in number and in monetary value?
Those with heads full of ivory pontificate.
57 minutes in Yannis raises the question about Metal
as a measure of worth.....
That concept returns us to the Sumerian invention of coins......
But the current grip that the players now offer,
includes Robert Mercer who bought a portion of Brexit,
for personal political economic reasons.....
The implications of Brexit, and the Gold held by the USA and British Banks
puts the two vaults of Gold allied once again against the forces
of Europe in a situation similar to the one in WW2....
Is Mercer, who seems to have franchised his marketing program to the GOP
now proposing to make an alliance of the US and Britain
as the Gold Standard Bearers, who can dictate terms to
the economic world of traders....
Or we the people could abandon the concept of all coins
or even metals to determine worth.....
The real question is, have Humans advanced as a species
enough to accept this idea?
The possibility is real, the question has never been asked.....
The economists may not like their
having to find a new position in life that justifies their existence......
The Banksters may feel equally alienated.....
@Sapocati P.s I think the Moon would be an ideal place to dispose waste, radioactive and highly toxic matirial...Yet all we can think of is of what riches might be there. Our decendants will wounder at the stupidity of defacating in the same place we live and eat. We are yet to evolve out of the small village mentality, and start to become global citizens.
The Energy consumption of bringing waste on the Moon might make It less convenient than you believe
EZ breesy😮🎉
Implications of Political leadership that supports common interests,
like the equality of humans and the distribution of wealth,
seems to be overcome by the cost of politicians.....
The current cost of election process in the USA
has reached 14 billion dollars per election cycle,
and inflation is raising the numbers every cycle
by at least double....
The inflated cost of politicians has removed the
element of Democracy, as Yannis seems to indicate,
from the average human, and handed the selection
of politicians to those who can afford to become
Majority Investors in the political marketplace.....
The only solution is for the average humans to
drop the use of money as a measure of worth.....
Remove the leverage and restore actual Democracy.....
Fox should not be in the same room as Yannis
Cekaj malo!?Danas svi daju kredite i stampaju novce poput kapljice vode!?Kuda dalje!?
Yanis. Is it time to wean ourselves from western financial/economic system? A tool of modern imperialism?
just another (long) way to say that deacresingly fewer people are accumulating incresingly more money...but thanks anyway
how and why did the US manage to lose its surplus? It appears to me that the cost of high consumption of the public seriously cut into profits of US firms .
이에 유럽연합은 즉각 해체가 원칙이며., 독립국가 각각 화폐 발행하여, 국가간 교역 당사국 끼리 화폐통화가 자국경제 활성화나 국제법 상으로도 원칙이고 합리적이다. 유럽연합은 즉각 해체해산이 원칙. /
In 1913 the Fed came to be. In 1914 we had WW1...... JOOOOOOOOOOOOOOOOOOOOOOOS
1:29 cognitive dissonance. This reminds me a person say who believes in something and has been lecturing it for a long time, say 40-50 years .Think how hard it is for him, nearly impossible to say he could have been mistaken. It takes a lot to turn the ship around.
judgenap Well, Yanis Varoufakis is actually very openly admitting that economics is mostly BS. He says it himself many times, though he admits that he needed to spend half his life in academia in order to get people's attention, and be taken seriously. I think he actually enjoys admitting this a great deal, he smiles every times he says it. If nothing else, at least he's smart enough to have the self awareness to not take his field, and indeed his life's work, that seriously. I find that pretty inspirational.
Morné Botha
Morné: That shows there's hope for us all!.
W.
i kant jus dumpt
but hisory
The verdict is pronounced that fictitious capital does not exist ( I proposed Fictitious Kapital ( F.K. ) starting with big storm like crisis of 1997 in S.E. Asia in 1997 following that of Argentinian desaster since 1992 , and continued after misterious '' Fall of Socialist Camp '' iin 1989 affecting East Europe and later on Russia followed strangely by China , that were apparently unrelated to Capital's Minotaur devouring humanity , but still that we have to see it come back , regularly after 1980's 1991, 1997 , 2007-2008, 2014, 2020 ( veilled ' somewhat ' by apparently coinciding with an unrelated Virus , Corona , changed into COVID19 , supposedly a world war ooops a world pandemic , as a smoke screen ! The big problem to see for economists ( ??) , is : '' what if there were no surplus in a system to recycle ? '' I proposed this open-cap crypto (not Bit-coins limited to 21 million coins ! ) , decentralized and non-speculative , world standard to be caaled social accreditation STATUS of individual producers, consumers or social actors ! No mythical Monitaur needed to exploit us or to be rubbed by bullies for ordinary socially active humans , from birth to the end of times ! I am ready to confront anybody to prove the opposite of no fictitious capital exists , as if the GODS are recreated to shut us up !
How Professor Varoufakis's students are able to concentrate on the dismal science being taught by this handsome Greek hunk, is quite frankly, beyond me.
Bingo - his looks, stochastic look and tone of voice trying to command gravitas are the reason he has an appeal, not his substance. If his students looked beyond that and concentrated, they would realise he is a cuckoo-land clown populist who has nothing tangible to say apart from utopian, incoherent nonsene, generalisations and contradictions sprinkled with fancy academic terminology in an attempt to sound intelligent through obfuscating what essentially is a non argument.
This is a common problem of our generation across the world and on every level - of people focusing on, or being distracted by materialism and looks while missing the substance (or rather, the lack of it in Yanis's case).
The Greek from a failed economic state, Columbia selects the wrong professors
1:05:24 haha
unstable = unnatural ...
Yanis is seemingly open about economics and supports, to a degree, Central Bank structure according to his own words. He speaks negatively about gold in these public spheres but am willing to bet here in 2022 that he probably owns gold privately. No one asks him this question. Why? People are so bazaar. They take this man’s word as if it’s gospel. I am not putting Yanis down. Just want the truth about what he does privately. That speaks much louder than public words from the pulpit.
He has volunteered this information - he does not own stocks or shares but I can't recall what he said about commodities. Will return to TH-cam for the info.
ise yt
His name is Baroufakis... and he should be court-martialed, not allowed to swim in his
mansion abstaining from his Parliamentary duties. What a Joke!
Complete farce of a guy - a populist clown with no connection to reality and who can't make a single coherent argument
L