Tuesday, October 23, 2018

Renegade Inc - The Finance Curse RT Renegade Inc

This is absolutely excellent. David Buik, who is a thoroughly decent fellow who comes on to defend the City of London, is humbled and incredibly open minded to what Richard Warner has to say. Superb!

Richard Werner gives excellent account about why small, non profit, local private banks are so good for an economy. They tend to invest in local businesses to increase products and services, while the big banks prefer to give loans for purchases, whether it be for consumer goods, like say, cars, or for assets, like say, property. The former is not inflationary as it increases products and services, but the latter is inflationary because it increases the money supply, and therefore demand, without a corresponding increase in manufactured goods and services.

Richard Werner has won me over on the merits of small, non profit, local private banks.

Can you imagine how good a zero, or extremely low, inflation economy would be? No need to worry about your savings being inflated away, so no need for ordinary savers to look for risky investments. If you keep on reinvesting there's got to come a time when there is nothing to left to invest in, and then inflation eats away the value of your money. Apparently, this is one of the reasons why the rich got into asset price inflation and financialization.

City of London mouth piece David Buik gets a lesson in banking from Richard Werner and takes notes.

For many years, we’ve been told that finance is good and more finance is better. But it doesn’t seem everyone in the UK is sharing the benefits. On this program, we ask a very simple question – can a country suffer from a finance curse? Host Ross Ashcroft is joined by City veteran David Buik and the man who coined the term Quantitative Easing, International Banking and Finance Professor Richard Werner.

For those who haven't seen it, here's the awesome Bank of Dave documentary. Back here by popular demand!

Bank of Dave: Dave Fishwick How I Took On the Banks

Bank of Dave - - The Bank of Dave demonstrates how the global financial system is in crisis, bankers. THE BEST BANK IN THE WORLD BANK OF DAVE WE LOVE YOU.


GLH said...

I intend on watching the videos but it will be awhile.

Kaivey said...

It's it okay, GLH, I know the videos are not as popular as the written word, probably because your can't speed read a video and they take time to view. That's why I try to give a bit of a write up. If I put out three videos in a day, that's a lot.

But these two are worth watching. The Bank of Dave is very entertaining and so is fun to watch like any good movie.