Should We Be Bailing Out Billionaires? Mike Maloney

by birtanpublished on September 21, 2020

Should the u.s. be bailing out billionaires the CEO of social capital says no and this tweet on CNBC is very interesting we'll put a link in there to it the US shouldn't be bailing out billionaires and hedge funds during this pandemic and basically what he's talking

About is all of the big corporations that are getting the bailout currency most of those corporations the stock is not owned by the employees and small investors the vast majority of the stock is owned by big funds family offices

Billionaires they're the ones who own the stock and so the currency that the Fed is creating that we all end up paying for basically so all of the bailouts this is not the Fed bailing them out this is not the government

Bailing them out this is you and me bailing out all of these companies so the airlines the cruise lines all of these big huge billion-dollar firms we are going to be bailing them out you and I with the dilutions of our currency

Supply purchasing power doesn't just come from nowhere you can't type it into existence now you know it sounds brutal you think that well if we don't bail bail out the airlines all these employees will lose their job

No they won't you know he points out in here that when you go through bankruptcy proceedings the assets are eliminated are the assets are liquidated not eliminated and when they're liquidated another company buys them and the

Company gets restructured and it becomes very efficient after going through a bankruptcy the new company that grows out of that is very efficient it needs all of those employees a few of them you know when it's trying to make the

Company more efficient it may do some cutbacks but on the whole what you're going to have is healthy companies that will grow when you Bale all of them out Japan did this in the late 80s early 90s and all the way through the 90s 2000s

And 2010 they continue to do it and what they created was a zombified economy they created the zombie banks it means walking dead these are dead organizations and their economy has been

Terrible for 30 years during that whole period of time they had us to sell to while we were going through these big booms like the tech boom of the late 90s like the real estate boom of the mid-2000s and like the almost everything

Bubble boom that is ending right now during that whole period of time that 30 years of a zombified economy we were buying stuff from Sony and Panasonic and JVC and on and on and on Toyota's and Honda's and and Nissan's so

They had us to sell to to whom do we sell in this upcoming depression and that it will be a depression and it'll last decades if they bail everybody out if you allow the companies that took on too much debt and too much risk to go

Under and allow the morse accompanies that survive which are the ones that didn't take the extraordinary risks and and so they get rewarded for running things correctly if you bail everybody out you're rewarding the people that ran

Things incorrectly and it's part of the problem and believe me this crash would have happened anyway it probably wouldn't have happened until after the elections or later in this year coronavirus has sped everything up and

It's going to make it much deeper but the crash would have happened anyway it's just the second half of the 2008 find a global financial crisis that they did not allow to clear going to my news page at the price of gold

And silver IOUs has risen so the price of real gold and silver has also risen silver outperformed gold just slightly so the gold silver ratio has fallen just a little bit but some of the stories fed is seizing control of the entire you

Yes bond market we covered that a couple of days ago our world is forever changed Bretton Woods is now on a ventilator well got news for you Bretton Woods ended August 15th of 1971 we're on the global dollar standard there is no

Bretton Woods but what the Bretton Woods system did for the United States that is going away right now we'll get to that later on when I talk about the nails in the coffin of the global dollar standard the Fed and the Treasury have now merged

That's important the IMF sees world in worse recession since the Great Depression I got news for you IMF is going to be the greatest depression that's what we're coming up to Fed chair Powell says US economy

Deteriorating with alarming speed you know what I'll go ahead and say it no Sherlock how can you expect it not to deteriorate with alarming speed when you close it but I want to draw your attention to

This last story these are all stories that everybody should be reading but this last one deflation the excess of credit and in here Hamilton Bolton did a study of all the depressions he could identify from 1830

On and published his conclusions in 1957 and the basis of it was that all depressions were set off by a deflation of excess credit so it's a buildup of excess credit in the economy he also said that sometimes the bubble can go on

For years but there's some event that comes along and bursts that bubble and then you have this huge deflation that causes a depression and that's what we're going into and even though the Fed is going to be doubling tripling

Quadrupling the currency supply in just a few short years here the Fed and the Treasury now because they've sort of merged even though that's happening velocity of currency is going to continue to slow people will hoard that

Currency because they're still scared and you have to watch episode 6 and 7 of a hidden sea secrets of money to understand that so if you haven't please do it get a bowl of popcorn and put it on your big-screen

TV and while you're at it watch nine and ten because these are episodes that I'm very very proud of they are I mean that is like a bowl of popcorn kick back on the couch have a beer with it while you're headed or a

Glass of wine on the radar lightning koala says he just points out this on this page of the London Times says Chancellor on the brink of second bailout for banks now the the Genesis block of Bitcoin you know nobody knows

Who Satoshi Nakamoto was or if it's a group of people he anonymously created Bitcoin and just released it into the wild put it up on on the internet and and you know it's it has propagated and it's being run the blockchain is being

Run on mining rigs they're called computers that try to guess a number very very fast but this paint he references this page in the Genesis a very first block of Bitcoin and it says Chancellor on the brink of second

Bailout for banks on that very first page and then yesterday I think it was we covered this Bank of England to directly finance UK's got government's extra spending so these things are very very related this is the London Times

This is the Financial Times so I want to thank lightning koala and then Eric civics says can Tilian effect he's actually misspelled this it's very very common I did it and because of my dyslexia I read this incorrectly for a

Long time before I was corrected it's actually the Cantillon effect there is no I here Cantillon and in 1755 Richard Cantillon published the he identified that when you create currents it doesn't go wherever it's spent first

That portion of the economy gets warped and and it causes prices to rise in certain areas so basically he was the first one to identify currency creation as causing bubbles he didn't label it that but look at this television screen

More than 16 million Americans have lost jobs in three weeks on the same screen at the same time with the Dow's best week ever since 1938 I mean the best week since 1938 this is you know the can the Cantillon effect happening you know

This is one of the worst times in the United States and the stock market has its best week but what's even scarier is this guy Jim Cramer more people have lost currency due to him than probably anything else that I know chart of the

Day this is from Chris C and what he points out here he made this chart and he was responding to me thank you Chris basically measured in Venezuela and bolivars over the last five years gold has gone up set one hundred and seventy

Eight thousand five hundred percent I just round because gold and silver you know the spot prices change every minute so this is different from whenever he made it and so it's very interesting what is also interesting is if you flip

This upside down basically what you've got is the value of the venezuelan Bulevar crashing against gold and we haven't taken this and divided it by the the Venezuelan Stock Exchange the Caracas stock exchange that index to see

If stocks are outperforming gold in Venezuela or if gold is outperforming stocks but I have a feeling that stocks are actually losing value compared to real stuff I want to welcome the 943 new subscribers since yesterday and make

Sure you hit that thumbs thumbs up button and please post these things on Facebook and Twitter it really does help and I have to grow this thing before the end of this crisis because it's going to end

With countries all over the world turning very socialistic you can just see it coming and that is a big danger viewer feedback this is from yesterday's video Zend R says a fool knows the price of

Everything and the value of nothing that's a that's quoting Oscar Wilde you know what's interesting is this quote is in my three books that are being written right now all three of them have this quote in Domino says modern monetary

Theory is not modern so this could be modern monetary theory or the mcgaubey Medoro theory or you can call it the magic money tree is not modern it's been tried many times in the past and failed governments have been debasing their

Currency since the beginning of time well actually watch episode two of hidden secrets of money they've actually the first time that money was debased into currency and real money gold and silver had a price measured in currency

Happened during the deficit spending that Athens was doing for the Peloponnese the end of the Peloponnesian wars the final few years of that of that war they started taking in their gold and silver coins in taxes and when they

Would melt them down they could melt them down and then add base metals to it so if you add 50% copper into your gold and 50% copper into your silver you can take in a thousand coins in taxes and then spend 2,000 coins and that's

Deficit spending and it first happened in ancient Athens somewhere between 414 and 404 BC so that it hasn't been since the beginning of time it's been since the BC era about 400 BC dragonfly doji says Mike remember when you did those

Timelines and put a nail in them to show how we were getting closer and closer together what you're talking about here is the I had a presentation called the death of the global dollar standard and these were the nails in the coffin of

The global dollar standard and it was the frequency of the newse little things that would come out in the news that were showing that we were getting near the end of this monetary global monetary system and they

Were coming you know it started with Saddam Hussein announcing that he was going to sell oil for euros and then it started coming faster and faster and it took about three minutes to get through the first five years of nails in the

Coffin now it would take hours to go through just what happened in the last week and so I abandoned doing that presentation and we did a couple of updates but it's so hard to update it because there's so many nails and we are

Going into a new monetary system sometime soon and it's probably going to have to do with digital Central Bank currencies because there's central banks are all talking about this right now as we speak so the quote of the day is

Coming up but I want to remind everybody again get my book it's free underlying most arguments against the free market is a lack of belief in freedom itself and that is so true I want to thank Milton Friedman one more time I've got a

Huge collection of Milton Friedman quotes also it's like I don't know six or eight pages of just Milton Friedman quotes in a separate document so I want to thank you for watching and we'll see you next time

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