Great piece of investigative journalism. Should win an International Award for Journalistic Excellence. Thank you Herr Harald Shumann of Der Tagesspiegel, Berlin.
Thank you for your investigation, and your detailed pursuit of the truth. I already knew the basic truth that it was all about the banks and that we, the People, were used as an insurance policy to cover the banks' stupidity and greed. I find it fascinating to see the secrecy and cover up about where the money went to hide the truth. Thank you Harald Schumann for following the money, and the highest standards of journalism you display. David Allen.
Thank you for such an honest portrayal of what is an massive asset grab, bleeding vital resources out of cash strapped nations. All the right questions were asked an not one answer was given. While we are discussing these issues(CRIMES), now in March of 2015, after all it is going on seven years now, a lot of hardship has been put on ordinary people i,e hospital waiting lists, suicides, evitions. If that is what Europe is about, who wants it.
Gerard Deegan it's bigger then that, the bubble and crash was planned and designed to happen, a ecconomic cu as Catherine fitts calls it. Weakening of democracy and an increase in corporate control, with massive amounts of money made and each country involved given a debt burden they will never be able to pay when each goes bankrupt as Greece has the whole country becomes property
In the same way as criminals launder money, so do the bankers.There are parallel economic systems now. Fiat paper is distributed to the peasants as real money. It looks as if the Irish government didnt realise this fact before they sold out our sovereignty.Now the NATION is on a leash=COMPLIANT. If they DID realise the truth about papr money and STILL went ahead with the bailout/sellout then there several possible conclusions= 1.they were blackmailed into collusion by virtue of the corruption that was/is rife in Official Ireland- in other words the ECB said ; " if you burn our speculators, we will blow the whistle on you" 2. The Irish politico/banking elite were up to their necks in the 'foreign' banks that got paid off. 3.There is no actual difference between the 'foreign' and 'Irish banks' at all and to say so is just maintaining the smokescreen. 4.The cash which was paid up disappeared into a 'parallel economic system' which is used to fund the adventures of the NWOrder-like a tax harvest on the economies of countries whose foreign policies and diplomacy are not compliant with NWO agenda- ie Irelands Neutrality has been under major pressure since then.5. All of the above
I am a pensioner and I buy as much gold ans sliver as my meager income will allow. Not a great dal I must admit, but I do NOT trust banks and fraudulent fiat currency.
Very informative , I hope it reaches a wider audience than the 21,336 as of today. That´s high for this sort of thing but not nearly high enough to impact public opinion. Tweeted and shared accordingly. Great Film.
Rosina Forlenza would be great to see the view counter at least in 6 figures I am surprised not to have come across it before it was linked in a Global research piece the day before yesterday thats the first I saw of it. The film maker deserved a much higher viewer ship what is keeping it out of search engines I wonder. Re tweet and post and repeat for me.
Central Bankers essentially run most governments...you live in a casino which they own. The Money" is fiat currency and fractional banking. Politicians simply do their bidding to stay in power and enrich themselves at the public trough. National debts are massive.and the bankers harvest the resources. Meanwhile the populace is told debt=wealth.
Alan Lawes No, it was sent on Arte. A french-german broadcaster. Still main TV, but not watched by manies. Anyhow, everybody that is not mainstream knows about the bank bailout in Germany. You find normal newspapers like Zeit or Sueddeutsche that wrote about. However that documentary had his audience cause it received the main German TV price in 2013...
Alan Lawes , well when I posted in FB a German FB friend had watched it when it was broadcast in Germany, however they put it on really really late, so keep sharing it. Even the Daily Telegraph recently ran a commentary on the Troika-Greece drama as a financial Iraq, designed to promote regime change. Greek banks did not break the economy it was vice versa, however the reckless lending and flooding of cheap money without proper checks on how safe the investments are, is the point, whether to other banks in the eurozone or other national governments. I am Greek for the run up to the referendum.
Alan Lawes Re: secret bank bailout. This is doing what is done in the US - picking up the story in the middle and letting innuendo do the rest. Greece is not in trouble simply because the banks made bad investments. They are in trouble due to heavy government spending and little government income. The banks underwrote government largess and now the government wants to blame the banks because the banks want to be repaid. They're not just handing the money out. AIG borrowed money in one way or another from Deutsche bank. Bailout money was used to pay them back. That's hardly sinister. In the US the so-called toxic assets were forced on the banks by government policies and threats. So when the banks got in trouble, the government blamed the banks. I suspect the same is true in this video. The underlying assumption is that the banks are simply making bad investments because they are stupid and there is no government interference at all. Want to stop this? Well stop forcing banks to finance government programs that never, ever work out.
***** You say "In the US the so-called toxic assets were forced on the banks by government policies and threats." This just isn't true. The bank is a private corporation responsible for all loans and risk associated with those loans. When my father took out a mortgage 30 years ago, he had to prove his income, show income statements and they actually called his boss and my mothers boss. It was a long process with extensive risk management. The banks are responsible for all loans made and always have been. They've been in this business for hundreds of years, you think they made an innocent mistake? They difference is they thought they could package their awful loans and let someone else take the risk while they reaped all the profits. You make them sound like innocent middlemen in the process. They knew exactly what they were doing at all times. The banks and government are intertwined in every financial process. Do you know how money is created? Its the biggest scam in the history of mankind. Most people have no idea.
If the price of your house is rising faster than inflation, it is creating a bubble. If the price of your house is NOT rising faster then inflation, it is not an investment. Houses as a business cannot be sustained.
No need to add money. It's not even backed up by paper any longer. Just add zeros in the computer to the last zeros that were added. Soon, there will probably be a computer program, that does it automatically. Don't you wish someone would do that to your account? There are probably people who have that done.
Every European should watch this several times over. It shows how fragile our economies are and that many governments dont know how economy works. Ireland made the worst economical mistake in the world.
It's all hokus pokus dominokus and funny money. They have to always strive to keep the public confident that the paper currency they use, has actual value. All the paper currency in the world only has value as long as everyone believes it has value. Once any doubt creeps in, the house of cards will come tumbling down.
dkeith45 its a vast oversimplification to say that. In reality, if the value of actual goods and services in an economy is perfectly and correctly valued and money in circulation matches that value perfectly then you’re fine. No economy has that level of perfection, but some come closer than others. Some at least have things of value, and some have very little of value. I’m not willing to rely entirely on the old fashioned bartering system. Not voluntarily anyway. Even gold was just an early form of check-writing ie, credit.
mikecat23 it was shared on fb by and irish friend, which was the first time I saw, but I never saw it on RTE or heard spoke of, in general (which would have happened if I missed it), so not sure.
every time i see documentaries of this nature it reminds me of the great American T Jefferson who told America n the world Only by educating the public can we guarantee our future freedoms,
Insightful documentary. I would be interested in follow-up, as well as new inquiries relating to the situation and sector now 5 years on--- especially in light of Trump's election w/Goldman-Sachs/Wall Street influence, Brexit/conservatives, continued difficulties in Spain & Greece, as well as US's Puerto Rico. Do progressives in the US and EU stand a chance of being able to gain transparency in govt/banking, and being able to hold accountable those who commit egregious "white collar" crimes??
52:31 - "Non-functioning structures are upheld." They are upheld by creative bookkeeping. They are upheld by conjuring money out of thin air, making existing money less valuable, i.e., punishing savers, punishing hard-working and actually functioning small and mid-sized businesses - bakers, mechanics, candlestick makers - with working capital and profits in the bank, punishing the real economy and thus, finally, all the people not in on the empty scam.
Pre-Knowledge, along with the political, economic and population dislocations must be investigated. The debts in several banks and bond markets, so large, so unpayable, from the beginning in its origin, that pre-knowledge must exist. An offensive financial warfare offensive exists against sovereign governments that must totally capitulate to the Private/International/European Central Banker Warfare Model. The ECB was employed to finance and reward the speculators, and we make up stories along the way foisting the 'investors' loses on the victim nations and populations. The ECB must be reorganized into a government owned and operated bank-credit facility that funds Industrial and infrastructure projects, not usury and speculation.
The financial crisis of 2008 has shown that economists, in general, have no clue what's actually going on, or how economies actually work, and many are in that industry solely to make themselves wealthy to the detriment of everyone else. Many of the economists interviewed in this documentary are of that reprehensible type.
Politicians unfortunately have no concept in how economics actually functions. They really think that your income taxes pays their salary. Eventually career politicians either hold office through bribery, blackmail or they have a nasty "accident". There is no way to fix the current system because this will always be the end result.
Wars in the Middle East, worldwide instability (follow Soros), theft of natural resources and the move toward globalization = the enslavement of humanity.
So basically what gatekeepers are saying, the insert country benefited from it for some time so it doesn't deserve to know who was it that robbed them in the end.
I think they are missing an important point and that is "Capital flight". Lets say you are a german wealthy peasant with financial capital managed by a german investment fund. The fund invested your money in Ireland and lets assume they dont pay. As the film suggests. Of course they could bring the bad news to the german wealthy peasant that his money went bust. Problem is capital is still scarce and financial centers compete to atract it. Most probably the wealthy peasant who lost part of his wealth will lose confidence in the german financial system and wil then transfer(maybe others will follow) his money to the City, to Wall Street, Hong Kong or Dubai. Capital will leave the euro zone to a safe haven and will not return soon. Capital flight on a massive scale is really not something you want to experience. Ask Argentina, Mexico, Brasil, etc.
I waited many years to watch something like this. To see it verified by someone who is not Irish, by a German journalist who is honest and very thorough and principled is something to behold. Germany and France etc. would easily have forgotten this, it will live long in the Irish memory, how a small country can be additionally crushed after 2 years of recession already just to make sure absolutely zero investors of any kind lost any money during the IMF 'bailout' negotiations. People's lives were destroyed for years and years. My own father was out of work for 3 years. I emigrated after college due to the lack of jobs(the recession really went on for like 7-8 years for many sectors of the Irish economy). There were cruel vicious things done. Imagine all the time you were struggling to find a few temping weeks work 60 kilometres commute away to just to get by and pay your rent or during the long periods of unemployment just trying to survive on just 100 euro a week in what was even back then one of the most expensive countries in Europe, wondering if you don't get a bit of temping or seasonal work soon would you not make rent and be evicted, you had this shite on the radio and telly saying how we were such a shameful country, deserved our punishment, we all partied etc. etc. and how we should be grateful to the great German, French govts and the ECB and IMF overlords for their benevolence. They exploited the situation for their own ends, took advantage of political neglect and corruption in Ireland, profiteered from it before the crash, during the crash, and to this day after the crash. Meanwhile budget after budget of cruelty not just against young people of course but against people in even more dire circumstances, the blind, the disabled, the sick, carers etc. Many hospitals had really immoral and inhuman cutbacks too. And the other line, take your medecine or it'll be even worse, they'll do to us what they are doing to the Greeks, look..etc. The Euro was a mistake and don't think this shit can't or won't happen again and that the more powerful EU leaders wouldn't behave exactly the same way again. If Ireland had the Punt at that time, the crisis would have been really bad like in the 1980s, but we would have recovered a little bit quicker, it would have been a little bit less cruel, and a whole lot less humiliating. Our own politicians are largely to blame for that, for championing the entry into such a system just for cheap credit, but Germany's elites benefitted hugely from 2000. The only difference is that their elites never stopped benefitting, only sooner or later it was at our expense, and Greece's expense, and Spain's expense. Schaueble is a particularly nasty, vicious, racist and corrupt POS. This guy and his ideological cohorts benefitted hugely from stealing former GDR assets and again 20 years later in Greece. Loves taking bribes off of arms dealers too. I saw and experienced a lot of poverty and severe deprivation pre 2008 and post 2008, a lot of cold winters without much oil, never went hungry thank God, but poverty impacted us severely due to unemployment in my father's case and later in my case out on my own, homeless too at one point. I dread to think of people in Greece and Cyprus who had things even worse. I don't think it should be forgiven cos we are just expected to forget it and pretend it never happened. France's and Germany's banks and governments and the ECB, IMF etc. , they don't say sorry we made a mistake, or sorry we overdid it a bit even, they say they were right, we all deserved to suffer cos it was our societies' collective faults-as though they all never benefitted from how they all helped create and then exploit the whole situation.
A bank lending money without wanting indepth details on the loan. Yet when I try to get a very small loan I have to hand over all my assets as collateral.
Elisabeth Schei - Profits are private; risks are public and loses are public. Very simple. Other people take risks and they win or lose. The banks keep their profits but push their loses on to the public. No risk, thus.
Such a travesty that only 200K people watched this video too isn't it. As I say, Irish, Greeks, Spanish, Cypriots, Portuguese, most of us who lived through those times and those of us who suffered to whatever extent will remember it for the rest of our lives. The others aren't even aware of what actually happened or have been told a lie about the full story of what happened and who really benefitted. Austerity didn't just destroy people's lives, it drove them in a certain direction.
I am here representing wider audience, this is awesome investigation, you deserve the award you hold! But still, this is just a piece of the whole picture, the bailouts are indeed some thing what need to be known from citizen not only in eurozone, but in all continents. I you really want to know the truth you must still look for thousands of documentary works, some of them are here in youtube Do your own research too! then you can contribute and make your own compilation, share if so
Why does no economic documentary understand or mention this: All the money put into circulation is borrowed - but how can all work and production in Ireland and other EU countries be owned by the ECB? Ireland and all EU countries should print money debt free and NOT loan the papers that represent that work from the ECB. If Irleand can print an IOU to the ECB, sell a "bond" which is a debt paper - debt to the ECB, that they can work for 100 billion, then they can print money, the paper bills that equate to 100 billion, - in previous times, every sovereign nation would print its own money at no cost, no debt incurred and then handle their own inflation through taxes and other instruments. Thomas Alva Edison said it plainly : If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good, makes the bill good, also. The difference between the bond and the bill is the bond lets money brokers collect twice the amount of the bond and an additional 20%, whereas the currency pays nobody but those who contribute directly in some useful way. … It is absurd to say our country can issue $30 million in bonds and not $30 million in currency. Both are promises to pay, but one promise fattens the usurers and the other helps the people. Commenting on Henry Ford's currency plan in ”Ford sees wealth in Muscle Shoals”, New York Times (6 December 1921), p. 6
The C/Bank's main objective is to cripple their victimised EU countries by induced debt in order to take 100% control of their insolvent currency, unveiled resources and enslave each EU citizens by extreme taxing schemes. Or, They'll be Sieged! Also, if you are a small nation with lucrative resources like Oil Gas Diamonds Uranium etc. You are obligated to the Beast Bank's control Or, You'll be punished and blacklisted!
As a simple question.." If everyone is borrowing then WHO is the lender"? Then ask where they get THEIR money from? John Poulson " we will always print more"!
maybe it just reveals how irrelevant is money as such for our daily lives? ...petty, trifling, meaningless, insignificant, superficial, immaterial etc... just think about it, folks! PLS!
Portugal have good relation with Brazil, Angola and China,,, they have injected and invested in Portugal and our companies are invested on them,,,if not was this Portugal is worsen.....
Great piece of investigative journalism. Should win an International Award for Journalistic Excellence. Thank you Herr Harald Shumann of Der Tagesspiegel, Berlin.
Hope that he & his family are safe. In the USA, he would be persecuted & in prison. For sure.
Thank you for your investigation, and your detailed pursuit of the truth. I already knew the basic truth that it was all about the banks and that we, the People, were used as an insurance policy to cover the banks' stupidity and greed. I find it fascinating to see the secrecy and cover up about where the money went to hide the truth. Thank you Harald Schumann for following the money, and the highest standards of journalism you display.
David Allen.
Thank you for such an honest portrayal of what is an massive asset grab, bleeding vital resources out of cash strapped nations. All the right questions were asked an not one answer was given. While we are discussing these issues(CRIMES), now in March of 2015, after all it is going on seven years now, a lot of hardship has been put on ordinary people i,e hospital waiting lists, suicides, evitions. If that is what Europe is about, who wants it.
Gerard Deegan All this corruption..... Banks, governments, courts, police, the masons, the EU, the cocaine snorting fucking lot of them. .
Gerard Deegan it's bigger then that, the bubble and crash was planned and designed to happen, a ecconomic cu as Catherine fitts calls it. Weakening of democracy and an increase in corporate control, with massive amounts of money made and each country involved given a debt burden they will never be able to pay when each goes bankrupt as Greece has the whole country becomes property
In the same way as criminals launder money, so do the bankers.There are parallel economic systems now. Fiat paper is distributed to the peasants as real money. It looks as if the Irish government didnt realise this fact before they sold out our sovereignty.Now the NATION is on a leash=COMPLIANT. If they DID realise the truth about papr money and STILL went ahead with the bailout/sellout then there several possible conclusions= 1.they were blackmailed into collusion by virtue of the corruption that was/is rife in Official Ireland- in other words the ECB said ; " if you burn our speculators, we will blow the whistle on you" 2. The Irish politico/banking elite were up to their necks in the 'foreign' banks that got paid off. 3.There is no actual difference between the 'foreign' and 'Irish banks' at all and to say so is just maintaining the smokescreen. 4.The cash which was paid up disappeared into a 'parallel economic system' which is used to fund the adventures of the NWOrder-like a tax harvest on the economies of countries whose foreign policies and diplomacy are not compliant with NWO agenda- ie Irelands Neutrality has been under major pressure since then.5. All of the above
Another great documentary revealing the truth behind the Euro crisis.
We need this journalist here in the USA 🇺🇸. THIS IS REAL JOURNALISM!!!
Started watching youtube to learn the stock market. Ended upo losing all faith in the banks and goverments
Same here haha
at least you proved yourself a normal, healthy and worthy Human... only who cares? :-(
I am a pensioner and I buy as much gold ans sliver as my meager income will allow. Not a great dal I must admit, but I do NOT trust banks and fraudulent fiat currency.
Which is exactly why so many have turned to crypto.
AMEN to that one Sonny!
If you live in the states call this video, Madonna tripping down steps, it will then get 20 million hits.
Fantastičan film!!! Hvala gospodi Bondy i Šumanu na ovom izuzetnom filmu! :)
Very informative , I hope it reaches a wider audience than the 21,336 as of today. That´s high for this sort of thing but not nearly high enough to impact public opinion. Tweeted and shared accordingly. Great Film.
***** I share it on FB every now and again. Maybe should start sharing it on google + which I am not so familiar with, to get it around.
Rosina Forlenza would be great to see the view counter at least in 6 figures I am surprised not to have come across it before it was linked in a Global research piece the day before yesterday thats the first I saw of it. The film maker deserved a much higher viewer ship what is keeping it out of search engines I wonder. Re tweet and post and repeat for me.
Another excellent documentary from WocomoDOCS. Thank you.
"We can't be alone in telling the truth." Actually, you can.
the carrot scene was priceless
Central Bankers essentially run most governments...you live in a casino which they own. The Money" is fiat currency and fractional banking. Politicians simply do their bidding to stay in power and enrich themselves at the public trough. National debts are massive.and the bankers harvest the resources. Meanwhile the populace is told debt=wealth.
Great documentary. Thank you, so much for this!!
Why does this not have a billion views? Probably shadow banned like everything else. Like if you agree.
Thanks to the German film maker. I wonder did this film maker it onto mainstream German TV?
Alan Lawes No, it was sent on Arte. A french-german broadcaster. Still main TV, but not watched by manies. Anyhow, everybody that is not mainstream knows about the bank bailout in Germany. You find normal newspapers like Zeit or Sueddeutsche that wrote about. However that documentary had his audience cause it received the main German TV price in 2013...
Alan Lawes , well when I posted in FB a German FB friend had watched it when it was broadcast in Germany, however they put it on really really late, so keep sharing it. Even the Daily Telegraph recently ran a commentary on the Troika-Greece drama as a financial Iraq, designed to promote regime change. Greek banks did not break the economy it was vice versa, however the reckless lending and flooding of cheap money without proper checks on how safe the investments are, is the point, whether to other banks in the eurozone or other national governments. I am Greek for the run up to the referendum.
minkowski4d The film was not only shown on ARTE but also on ARD. However, you are right, it was scheduled at a very late time in the evening.
Alan Lawes Re: secret bank bailout. This is doing what is done in the US - picking up the story in the middle and letting innuendo do the rest. Greece is not in trouble simply because the banks made bad investments. They are in trouble due to heavy government spending and little government income. The banks underwrote government largess and now the government wants to blame the banks because the banks want to be repaid. They're not just handing the money out.
AIG borrowed money in one way or another from Deutsche bank. Bailout money was used to pay them back. That's hardly sinister.
In the US the so-called toxic assets were forced on the banks by government policies and threats. So when the banks got in trouble, the government blamed the banks. I suspect the same is true in this video. The underlying assumption is that the banks are simply making bad investments because they are stupid and there is no government interference at all.
Want to stop this? Well stop forcing banks to finance government programs that never, ever work out.
***** You say "In the US the so-called toxic assets were forced on the banks by government policies and threats." This just isn't true. The bank is a private corporation responsible for all loans and risk associated with those loans. When my father took out a mortgage 30 years ago, he had to prove his income, show income statements and they actually called his boss and my mothers boss. It was a long process with extensive risk management. The banks are responsible for all loans made and always have been. They've been in this business for hundreds of years, you think they made an innocent mistake? They difference is they thought they could package their awful loans and let someone else take the risk while they reaped all the profits. You make them sound like innocent middlemen in the process. They knew exactly what they were doing at all times.
The banks and government are intertwined in every financial process. Do you know how money is created? Its the biggest scam in the history of mankind. Most people have no idea.
This is such quality content documentary. We are being robbed big time. Thank you Arpad!
If the price of your house is rising faster than inflation, it is creating a bubble.
If the price of your house is NOT rising faster then inflation, it is not an investment.
Houses as a business cannot be sustained.
That's why your children now live in your basement. No one has a sense of future any longer.
yep thanks greedy Boomers
Nice understanding, never thought about it like that
16 bankers disliked this video.
The EU and the Euro is absolute MADNESS.
Love Europe, Hate the EU.
Nexit next.
Brilliant outstanding reporting and relevant today in November 2020
basically, germany has majority control of the EU and told the ECB that it want all german investors to be paid back, whatever the method or tactic
this is the best Kurzgesagt episode
No need to add money. It's not even backed up by paper any longer. Just add zeros in the computer to the last zeros that were added. Soon, there will probably be a computer program, that does it automatically. Don't you wish someone would do that to your account? There are probably people who have that done.
Now that's a great journalist
Every European should watch this several times over. It shows how fragile our economies are and that many governments dont know how economy works. Ireland made the worst economical mistake in the world.
It's all hokus pokus dominokus and funny money. They have to always strive to keep the public confident that the paper currency they use, has actual value. All the paper currency in the world only has value as long as everyone believes it has value. Once any doubt creeps in, the house of cards will come tumbling down.
dkeith45 currency backed up with absolutely nothing. It's an embarrassment
dkeith45 its a vast oversimplification to say that. In reality, if the value of actual goods and services in an economy is perfectly and correctly valued and money in circulation matches that value perfectly then you’re fine. No economy has that level of perfection, but some come closer than others. Some at least have things of value, and some have very little of value. I’m not willing to rely entirely on the old fashioned bartering system. Not voluntarily anyway. Even gold was just an early form of check-writing ie, credit.
22:00 I always had the same opinion in my mind so its interesting to hear somebody else about it.
Excellent!
Superb doc!
Nur 33358 Views, für so eine wichtige Doku. Traurig :(
Has this programme been shown on RTE?
Cool Baire Should be
mikecat23 it was shared on fb by and irish friend, which was the first time I saw, but I never saw it on RTE or heard spoke of, in general (which would have happened if I missed it), so not sure.
Brilliant! Vielen Dank!
30:36 this is the only thing people need to listen!
Great documentary. The European system just isn't designed to cope with the forces of globalised finance, and it's a huge threat to stability.
it's basically redistribution of wealth....on a global scale.
I love the woman buying a carrot and the daily Mirror. Very Dublish
Where will it all end??
When we will die, that's when
if debt creates new money then if you cancel a debt does that take money out of the system, and therefore would inflate the value of the euro ?
Thanks
every time i see documentaries of this nature it reminds me of the great American T Jefferson who told America n the world Only by educating the public can we guarantee our future freedoms,
Insightful documentary. I would be interested in follow-up, as well as new inquiries relating to the situation and sector now 5 years on--- especially in light of Trump's election w/Goldman-Sachs/Wall Street influence, Brexit/conservatives, continued difficulties in Spain & Greece, as well as US's Puerto Rico.
Do progressives in the US and EU stand a chance of being able to gain transparency in govt/banking, and being able to hold accountable those who commit egregious "white collar" crimes??
52:31 - "Non-functioning structures are upheld." They are upheld by creative bookkeeping. They are upheld by conjuring money out of thin air, making existing money less valuable, i.e., punishing savers, punishing hard-working and actually functioning small and mid-sized businesses - bakers, mechanics, candlestick makers - with working capital and profits in the bank, punishing the real economy and thus, finally, all the people not in on the empty scam.
Excellent work
Know how fractional reserve banking works and quantitative easing and you will know how the banks work
Pre-Knowledge, along with the political, economic and population dislocations must be investigated. The debts in several banks and bond markets, so large, so unpayable, from the beginning in its origin, that pre-knowledge must exist. An offensive financial warfare offensive exists against sovereign governments that must totally capitulate to the Private/International/European Central Banker Warfare Model. The ECB was employed to finance and reward the speculators, and we make up stories along the way foisting the 'investors' loses on the victim nations and populations. The ECB must be reorganized into a government owned and operated bank-credit facility that funds Industrial and infrastructure projects, not usury and speculation.
They should show this in every school
but because no subtitles in another european lenguages?
+salvador armesto We have also a German version of this documentary: th-cam.com/video/e28FG5glRe4/w-d-xo.html
The financial crisis of 2008 has shown that economists, in general, have no clue what's actually going on, or how economies actually work, and many are in that industry solely to make themselves wealthy to the detriment of everyone else. Many of the economists interviewed in this documentary are of that reprehensible type.
again the stupidity of our politicians and financial elite !
Our politicians are criminals.
Fake money=fake politicians, fake news, fake economy, fake history....
End the Federal Reserve and ALL Central Banks.
Politicians unfortunately have no concept in how economics actually functions. They really think that your income taxes pays their salary. Eventually career politicians either hold office through bribery, blackmail or they have a nasty "accident". There is no way to fix the current system because this will always be the end result.
European individuals are not to blame, banking organisations are! All European individuals know this.
Every bank worldwide did this at the same time.....only Iceland punished the bankers!
The banks made billions...where did the money go?
Wars in the Middle East, worldwide instability (follow Soros), theft of natural resources and the move toward globalization = the enslavement of humanity.
So basically what gatekeepers are saying, the insert country benefited from it for some time so it doesn't deserve to know who was it that robbed them in the end.
WE WOULD BE SO HAPPY WITHOUT BANKS!
I think they are missing an important point and that is "Capital flight". Lets say you are a german wealthy peasant with financial capital managed by a german investment fund. The fund invested your money in Ireland and lets assume they dont pay. As the film suggests. Of course they could bring the bad news to the german wealthy peasant that his money went bust. Problem is capital is still scarce and financial centers compete to atract it. Most probably the wealthy peasant who lost part of his wealth will lose confidence in the german financial system and wil then transfer(maybe others will follow) his money to the City, to Wall Street, Hong Kong or Dubai. Capital will leave the euro zone to a safe haven and will not return soon. Capital flight on a massive scale is really not something you want to experience. Ask Argentina, Mexico, Brasil, etc.
I waited many years to watch something like this. To see it verified by someone who is not Irish, by a German journalist who is honest and very thorough and principled is something to behold. Germany and France etc. would easily have forgotten this, it will live long in the Irish memory, how a small country can be additionally crushed after 2 years of recession already just to make sure absolutely zero investors of any kind lost any money during the IMF 'bailout' negotiations. People's lives were destroyed for years and years. My own father was out of work for 3 years. I emigrated after college due to the lack of jobs(the recession really went on for like 7-8 years for many sectors of the Irish economy). There were cruel vicious things done.
Imagine all the time you were struggling to find a few temping weeks work 60 kilometres commute away to just to get by and pay your rent or during the long periods of unemployment just trying to survive on just 100 euro a week in what was even back then one of the most expensive countries in Europe, wondering if you don't get a bit of temping or seasonal work soon would you not make rent and be evicted, you had this shite on the radio and telly saying how we were such a shameful country, deserved our punishment, we all partied etc. etc. and how we should be grateful to the great German, French govts and the ECB and IMF overlords for their benevolence. They exploited the situation for their own ends, took advantage of political neglect and corruption in Ireland, profiteered from it before the crash, during the crash, and to this day after the crash. Meanwhile budget after budget of cruelty not just against young people of course but against people in even more dire circumstances, the blind, the disabled, the sick, carers etc. Many hospitals had really immoral and inhuman cutbacks too. And the other line, take your medecine or it'll be even worse, they'll do to us what they are doing to the Greeks, look..etc.
The Euro was a mistake and don't think this shit can't or won't happen again and that the more powerful EU leaders wouldn't behave exactly the same way again. If Ireland had the Punt at that time, the crisis would have been really bad like in the 1980s, but we would have recovered a little bit quicker, it would have been a little bit less cruel, and a whole lot less humiliating. Our own politicians are largely to blame for that, for championing the entry into such a system just for cheap credit, but Germany's elites benefitted hugely from 2000. The only difference is that their elites never stopped benefitting, only sooner or later it was at our expense, and Greece's expense, and Spain's expense.
Schaueble is a particularly nasty, vicious, racist and corrupt POS. This guy and his ideological cohorts benefitted hugely from stealing former GDR assets and again 20 years later in Greece. Loves taking bribes off of arms dealers too.
I saw and experienced a lot of poverty and severe deprivation pre 2008 and post 2008, a lot of cold winters without much oil, never went hungry thank God, but poverty impacted us severely due to unemployment in my father's case and later in my case out on my own, homeless too at one point. I dread to think of people in Greece and Cyprus who had things even worse. I don't think it should be forgiven cos we are just expected to forget it and pretend it never happened. France's and Germany's banks and governments and the ECB, IMF etc. , they don't say sorry we made a mistake, or sorry we overdid it a bit even, they say they were right, we all deserved to suffer cos it was our societies' collective faults-as though they all never benefitted from how they all helped create and then exploit the whole situation.
A bank lending money without wanting indepth details on the loan. Yet when I try to get a very small loan I have to hand over all my assets as collateral.
Ohh gosh we're in trouble
Everyone owes everyone money, somehow.
Proverbs 29:2 “When the righteous increase, the people rejoice, but when the wicked rule, the people groan.”
Why do you only ask who are the lenders and not who are the bankers that took the loans?
Once again we got screwed by the International Banksters!!!
Is it me, or does the person translating @ 9:30 sound like the same guy who does the "In a nutshell" or kurzgesagt videos?
These banks have got to go. Federal reserve has got to go. They are a disease. Each country needs to go back to their own currency.
The creditors YES do plan for the scenario of no repayment because they know bailout will happen
the voice!!! I know this voice
And how they become the creditors look up the cestque qui view act 1666.
This is very confusing
Elisabeth Schei - Profits are private; risks are public and loses are public. Very simple. Other people take risks and they win or lose. The banks keep their profits but push their loses on to the public. No risk, thus.
WHEN ONE PAYS PEANUTS. ONE GETS A MONKIES.
apartments built next to the train?...a half finished congested brick camp near trains?
Such a travesty that only 200K people watched this video too isn't it. As I say, Irish, Greeks, Spanish, Cypriots, Portuguese, most of us who lived through those times and those of us who suffered to whatever extent will remember it for the rest of our lives. The others aren't even aware of what actually happened or have been told a lie about the full story of what happened and who really benefitted. Austerity didn't just destroy people's lives, it drove them in a certain direction.
Can someone translate this documentary into Icelandic?
Today the office of the German Finance Minister Schauble is the old Nazi headquarters of the Luftwaffe, under Goring. Just sayin'
I am here representing wider audience, this is awesome investigation, you deserve the award you hold!
But still, this is just a piece of the whole picture, the bailouts are indeed some thing what need to be known from citizen not only in eurozone, but in all continents.
I you really want to know the truth you must still look for thousands of documentary works, some of them are here in youtube
Do your own research too!
then you can contribute and make your own compilation, share if so
Why does no economic documentary understand or mention this: All the money put into circulation is borrowed - but how can all work and production in Ireland and other EU countries be owned by the ECB? Ireland and all EU countries should print money debt free and NOT loan the papers that represent that work from the ECB. If Irleand can print an IOU to the ECB, sell a "bond" which is a debt paper - debt to the ECB, that they can work for 100 billion, then they can print money, the paper bills that equate to 100 billion, - in previous times, every sovereign nation would print its own money at no cost, no debt incurred and then handle their own inflation through taxes and other instruments. Thomas Alva Edison said it plainly : If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good, makes the bill good, also. The difference between the bond and the bill is the bond lets money brokers collect twice the amount of the bond and an additional 20%, whereas the currency pays nobody but those who contribute directly in some useful way. … It is absurd to say our country can issue $30 million in bonds and not $30 million in currency. Both are promises to pay, but one promise fattens the usurers and the other helps the people.
Commenting on Henry Ford's currency plan in ”Ford sees wealth in Muscle Shoals”, New York Times (6 December 1921), p. 6
That's the only reason they introduced the Euro.
Profits are private; risks are public and loses are public. Very clever! Cunning.
A Waterloo Sunset,
The Sun Also Rises
The C/Bank's main objective is to cripple their victimised EU countries by induced debt in order to take 100% control of their insolvent currency, unveiled resources and enslave each EU citizens by extreme taxing schemes. Or, They'll be Sieged! Also, if you are a small nation with lucrative resources like Oil Gas Diamonds Uranium etc. You are obligated to the Beast Bank's control Or, You'll be punished and blacklisted!
Now that they know they can get away with it, what next ? More of the same, ----You can BANK on it.
Das System ist defect.
It's what banks do...loan money and then when it can't be paid back, foreclose.
Who told Ireland to take on huge debt and pump it into real estate bubble
Germany, be ready for higher taxation!
As a simple question.." If everyone is borrowing then WHO is the lender"? Then ask where they get THEIR money from? John Poulson " we will always print more"!
Every person should watch this, sad thing is they would if it were about bunnies and kittens.
Beavers are even more popular!
IT'S TIME TO CHANGE SYSTEM. IT DOESN'T WORK! BY THE WAY, WE MIGHT TRY TO "SAVE" THE CLIMATE(
I.E. US)
maybe it just reveals how irrelevant is money as such for our daily lives? ...petty, trifling, meaningless, insignificant, superficial, immaterial etc... just think about it, folks! PLS!
Irish MEP Brian Hayes left the EU to join a banking industry group.
Bailouts and moral hazard issues will happen again and again until we tame human greed that triggers every financial crisis.
and to recover from this year's crash, there it will be trillions need to bail out the banks
I suppose we will lose our pensions
Portugal have good relation with Brazil, Angola and China,,, they have injected and invested in Portugal and our companies are invested on them,,,if not was this Portugal is worsen.....
It’s called counterparty risk and it is factored in ever banks internal risk model they just decided the hell with that the taxpayers got us
ireland has biljons of dollars there from : apple, mc donnalds, and 5000 other company's.
minute 50', inside information for the bankers to withdrawl there money.
EU keeps it from us
things must be really difficult in germany...this reporter only has one shirt....
minute 45', the real reason why the gouverment not let the bank bankrupt....
why so serious, those who work lose money to those who do not want to work, what is your problem?