April 24th, 2009

Dirk Müller on the Euro Crisis

(Excerpts from the German TV-Talkshow “maybrit illner”, ZDF, April 26, 2012. English subtitles, 8:15 min.)

Dirk Müller, nickname “Mr Dax”, is an investment consultant and broker at the stock exchange. He managed to break a taboo in the public discussion in Germany by introducing the problem of compound interest in mainstream media and he is doing it in an eloquent and comprehensive way. Congratulations to Dirk!

 

Money Creation ›ex nihilo‹

This video deals with a subject that creates a lot of confusion in the minds of many people. In order to overcome the indissoluble contradiction between the two functions of the medium of exchange and the store of value, a money reform that makes sense has to strictly distinguish between ‘money’ and ‘credit’. This video shows that in the light of this distinction there can be no money creation out of thin air by commercial banks. In the existing system it’s the central bank that creates money out of nothing! But money creation via credit is the wrong method.

 

 

“The greatest shortcoming of the human race is our inability to understand the exponential function.”

Dr. Albert A. Bartlett:

Arithmetic, Population and Energy

See the video lecture in one go (66 min)

 

 

Michel Chossudovsky
THE GLOBAL FINANCIAL CRISIS

Public Lecture, Montreal, Jan 14, 2009
Causes and consequences of the financial meltdown; The speculative onslaught; Financial fraud and the “bank bailouts”; Bankruptcy of the real economy; Impacts on employment, wages and social services; Towards a spiralling public debt; The economic crisis and its relationship to the Middle East war; The centralization of corporate power; The concentration of wealth; The globalization of poverty. What are the policy alternatives?