Universal Basic Income or Universal Tragic Outcome? – Mike Maloney

by birtanpublished on September 11, 2020

Coronavirus could pave the way to a universal basic income that's the top story that I want to cover in this video somebody needs to tell me how this is going to work I need an economic explanation of how this is actually going to create more prosperity and how

It isn't going to just cause a huge wealth transfer especially you know they use these things as a cover to also transfer wealth all these bailouts a lot of wealth is going to be transferred to big companies and the big banks the

Financial sector in this crisis and it's stolen from the average person so now what we're going to do is we're just going to steal from everybody anyway this guy standing a research professor in Development Studies so at least he's

Not in economics University of London said that there was no prospect of a global economic revival without a universal basic income I just want to know where it works how it works the International Monetary Fund expects the

Global economy to suffer its worst financial crisis since the Great Depression actually they are behind the curve one day they will be admitting that this is the worst financial crisis in history bar none it doesn't matter

How far back you go or in any society there's no time where the entire world was so invested in paper assets and those assets blown into bubbles by the world's central banks and then you unleash I mean you could go back to the

Black Plague and the economic effects pale in comparison to what is going to happen here in his Easter letter over the weekend Pope Francis said that this may be the time to consider a universal basic wage and we've already gone down

This road in the United States we've sent everybody 1200 bucks there's a bill in that's going to be presented to Congress to send everybody $2,000 a month until this crisis is over and I just want to know how that is

Going to work earlier this month Spain's Minister for Economic Affairs said that the euro zone's fourth largest economy would roll out a universal basic income as soon as possible so they're just going to do it and he said that the

Government the government's wish is to make it a nationwide basic wage a permanent instrument that supports its citizens forever somebody please explain to me how this is going to work the true wealth is from you and me creating a

Product or a service for each other and then trading that product or service and we use a medium of exchange to do it which is nothing but a measurement tool you can put a price on something and a temporary storage device for that value

That the true wealth had the goods and services that we exchanged if I use if I've got currency and I pay you for something that you sell me the value of what you sold me is temporarily stored in that currency and then you're going

To take that currency and buy something else of value that you want or need and the value to you will be equal for to the value that you sold the to what I valued your product or service at they're creating more digits and they're

Adding these digits to people's bank accounts and those digits are the measurement tool and what happens is they add it to the bank account and this is an empty digit that has no value whatsoever it gets its value the moment

That it's spent into circulation and once it's spent into circulation it dilutes the pool of digits stealing value from all of the other digits and transferring that's where it gets its purchasing power stolen purchasing power

It's theft and so we're all going to steal from each other and that's supposed to make us all richer and and keep things from getting worse but if the true wealth is the goods and services that we create for one another

How does typing digit create more more units of goods and services wealth is constantly produced and can sumed created and consumed we grow food and then we eat it we build a car and then we drive it until it goes to the

Junkyard we weave Chloe we make clothes and then we wear them until we donate them or throw them out or whatever wealth is constantly being created and consumed well you're going to see in some of the next stories here suddenly

The creation has gone away so there's much less creation all of the manufacturing is dropping retail sales is dropping wealth creation is falling off of a cliff they're going to create more of these fiat units of the medium

Of exchange and dilute that pool of measurement devices and and units of exchange while the wealth is falling this is a recipe for disaster it cannot end well there's no way that this can work I want somebody to show me how the

Economics of modern monetary theory the Maduro Mugabe theory or the magic money tree how this universal basic income works it can't so some of the other stories that sort of connect to this you know it's interesting you read stories

And they give you a point of view that somebody's pointing out something to you but if you accidentally read another one that somehow reflects on that one even though there are different stories about different things if you can connect the

Dots and then you eat another one it's one plus one plus one equals three you come up with this brand new number at the bottom where you sort of get what's going on in the economy or in anything else for that matter so the next one I

Read was money is losing its meeting meaning we're going to come back to these in a few minutes and this is about all of the currency creation they're create the extra digits that they're typing to try and get through this and

Then unprecedented decline in retail sales and it will get worse and so this one is about the fall of true wealth being created and you read these things and connect the dots I'll show you some more dots

That I connected and reading them later but gold telegraph points out that Turkish Treasury issues gold bonds gold is once again reasserting itself is the only true money it's it's becoming the preeminent currency on the planet while

It's always been the only true money but it's once again reasserting itself as this preeminent currency as the other currencies start to fade and go by the wayside that is really what's what's going on right now but the Turkish

Treasury and Finance Ministry issued past tense gold bonds and certificates I don't know if this is true this is what gold Telegraph wrote but the issued gold bonds and certificates for fifteen thousand four hundred and seventy nine

Kilograms that's about half a million ounces of gold equivalent to more than eight hundred and fifty billion dollars and that is actually a significant amount for a country like Turkey and this pays 0.75 so three quarters of one

Percent interest semi-annually so it's going to do that two times because these are one-year bonds so you're getting a percent and a half interest on that which is much higher than the return in a bank account or something like that

And they're the issues the certificates are issued in return for gold bars weighing a minimum of one kilogram so that is about a fifty five thousand dollar gold bar that's backing these so the average person will not be able to

Redeem these for gold but they'll be exposed to the price rise of gold plus one and a half percent so again gold providing cash flow providing income I want to welcome the nine hundred and five new subscribers and make sure that

You hit that notification bell and give us the thumbs up if you can these things really help and one of the things that I am most worried about is a slide into socialism because of what is happening economically this we came close to it

You know in the Great Depression and this is something that is a real threat and getting the word out when you give us a thumbs up and when you hit the subscribe and hit that notification bell It Up's

Are standing in the YouTube algorithm and that little bar on the side of the videos that shows recommended videos we rank higher in that and share this because when you do that if somebody that wasn't interested in this clicks on

That and they learn something and then they share it with somebody else there's this compounding effect and who knows you might be the one that kept us from the slide into socialism the chart of the day I'm turning this into charts of

The day there's two of them the article money is losing its meaning doing whatever it takes to save the global economy from coronavirus pandemic is going to cost a lot of currency the US government alone is spending a few

Trillion dollars in the Federal Reserve is creating another another few trillion dollars to keep the financial system from collapsing it's really good that this guy is pointing out that the government isn't and Federal Reserve

These are two different entities he's not lumping them together but what when you read between the lines what they're talking about is destroying a confidence in currency fiat currency and what I read when I see this I read between the

Lines and I see this title money is losing its meaning money will lose its meaning with regards to people calling fiat currency around the planet when the majority of the population of this planet no longer calls fiat currency

Money when they realize that calling that money was a lie and and it's giving currency attributes that it does not have and only gold and silver have proven to be money throughout the centuries they're reasserting themselves

Again they will they will do the same thing that they have done thousands of times in the past all the fiat currencies are going to fade from memory and and we will probably have real money again

But it is losing its meaning so moving on I wanted to show you this chart and it's from that article a glut of cash the amount of currency in circulation is more than doubled since before the financial crisis this goes back to 2007

This is 20 trillion and 40 trillion so this is about 34 trillion that it starts out at we're over 82 trillion but it takes a couple months to compile this data this is for the m2 figures for 12 major economies so they're adding them

All together and around the world all econo all the central bank's are hyper inflating their base currency supplies right now we're all passing these stimulus things so this is probably for January possibly February of 2020 but I

Have a feeling it's January so by the time April comes in we're gonna be like up here March April May June pretty so pretty quickly we're gonna be over this one hundred twelve trillion dollar mark and as we inflate the currency supply

People will stop calling currency money eventually the population of the planet will get it and at that point in time this opportunity that comes with a wealth transfer of this magnitude will be over with

Mike mish shed locket mich talk you should go and read some of his articles because he is excellent at adding up one plus one plus one equals three he understands more about economics and the people running the Federal Reserve this

Is the Empire State manufacturing index so Empire State is New York manufacturing index is the the Federal Reserve sends out a questionnaire to a bunch of the manufacturers throughout different industries in New York State

And they answer this questionnaire and it gets a rating and you can see that after the crash of 2000 it came back with about an average of a little less maybe or around this plus twenty mark and then it slid from about plus 24 plus

25 down to minus this is 34 point point three in his article he said it bottomed there and this took two years to do if you look at this scale this is four years at each one of these so more than a year to

Do and here we've gone from plus twelve this week economic recovery I kept on calling this economic recovery anemic week and if you cut off all these tops and fill in all the bottoms you'll see that it's about 8%

Compared to plus 18 or 20 here and then we had reached this plus 12 and then just the past couple of weeks all the way down to minus 78 this is tragic and you'll notice it's it you know it can only go to minus a hundred and that's

Like no manufacturing this is going to fall next week it'll probably go close to that minus ninety you know next month it'll fall this is really tragic and it relates to those articles if you're going to print new digits but the true

Well this is the true wealth vanishing and we're consuming wealth all the time remember it's created and consumed constantly and to get richer as a society as a planet we have to create more than we're consuming and right now

We have shut off the creation and viewer feedback I want to thank everybody for taking this little poll that we've got regarding the relationship of the federal reserve and Blackrock I asked does this have an aroma to it some sort

Of funky odor and your replies we're squeaky clean 1% business-as-usual 5% slightly concerning 9% and 82% of you said it has the stench of a boggy swamp now I'm laughing and the reason you know we we should be crying the only thing

You can do if you can't laugh about this is cry and I'd rather laugh but everybody needs to protect themselves from this stuff a simple basic market knowledge says thank you for another market update you make a good point of

How xx the 2020s might end up looking a lot like the 1920s well is the 19 thirty's actually that we had this slide toward socialism and and if you read Milton Friedman you'll see that he said you know he really studied this and he

Said that the the Great Depression was absolutely the Federal Reserve and the government's fault the Federal Reserve's management and the government rushing in to save us it was absolutely their fault it should

Have been a garden-variety to severe recession that would have lasted one to two years at the most and I I you know I've studied it up and down and I absolutely agree with Milton Friedman's take on this it was the

Government's fault and that's what scares me about what's going on right now they're rushing in to save us this could end up dragging out for decades Justin Evans I got my helicopter money this morning and yes 95 percent of it

Went into silver well I want to point out Justin that you got your helicopter currency and yes you bought money with it I think that's great the meme of the day but first you know like I said I'm saying most of you

Have probably already got in my book it's a free download but the first part of it there's 20% of it that is a very entertaining history of fiat currencies against money this constant battle and money gold and silver give fiat

Currencies a knockout blow time after time after time and after studying monetary history you too will come with to the conclusion that you will give fiat currencies a 0% chance of winning this battle this time so download that

Send it to everybody that you care about and last we're gonna get to the meme of the day that's an 11 11 thousand dollars in fines right there this is some state passing an emergency order that calls for fines of up to $1,000 for ignoring

Social distance do you see a face mask on any of these career politicians and you know here you see them all looking down and the person that's signing it's thinking you know next election election I'm

Gonna be sitting in that chair passing all these things and controlling the population and deciding what they should all do meanwhile they're ignoring this bill that that they're signing and she is the only one that has even the

Remotest sense of responsibility toward this thing by having a little bit of distance but there's no gloves or masks and he's the only one wearing eyewear but it's not because of the coronavirus so I hope you got something from this

And if you learned something and found it entertaining simultaneously we'll see you next time

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