Video “Cause and Cure of the Crisis”

The summary of this weblog has already been given in the About menu plus the earlier post Cause and Cure of the Crisis. Now there is a Video as well, see above menu.

The sound recording isn’t that good yet but I am learning how to use the software. My speech speed is rather slow, it doesn’t have the pitch as e.g. is common on TED or with some journalists. You can run the video at a higher speed up to getting me quacking like a duck and approximate that TED idea.

My thanks go to YouTube, Microsoft Expression Encoder and Afsbinwin of Radioactive.com in particular for the present result. I also learned from the software of Diego Uscanga of aTube Catcher and the Audacity team for sound editting, and the Media Player Codec Pack, FFmpeg.org and WinFF (GUI) for converting MWV into MPEG4. It seems that MsEE allows edits and encodings to MWV that are okay for Ms Media Player but that can get stuck in YouTube Processing, so that you can wait for days for something to happen. FFmpeg / WinFF indeed render errors on timestamp ordering in such a MWV file. Repacking that MWV into ASF with Afsbinwin apparently removes such errors, and YouTube Processing accepts the file. The cost is, however, that the sound turns bad at particular places where there has been an edit (not all). This audio drop happens at the same spots both in Asfbinwin and in the conversion from MWV to MPEG4, so I presume that the main problem lies in MsEE indeed. Perhaps Bill Gates can look into this.

While I was waiting for YouTube Processing, I had the chance to look at some videos of “the competition”. YouTube noticed that I was interested in the crisis and thus it presented me with recordings of George Soros, Jim Rogers, Peter Schiff, Richard Duncan, and so on, with various doom scenarios of world economic collapse. Especially the ticking National Debt time bombs draw attention. Deacon Swayne of the British magazine MoneyWeek has a 47 minutes “documentary” on The debt time bomb that is Britain. Though much of that “documentary” is accurate, it turns out to be a long commercial advising you to rely on MoneyWeek. My suggestion is that you watch my Video and check how much is explained of the crisis.

It cannot be denied that Soros, Rogers, Schiff, Duncan, Swayne and others, with their state of knowledge, point to relevant angles in world developments. But they lack the synthesis in economic theory that is presented here. In the same manner, governments study the various scenarios of world development. Their vested interest is to enhance stability rather than scare mongering. You wouldn’t like it when Angela Merkel had a broadcast every week like Peter Schiff about her ideas about the impending world collapse and how everyone should work hard and save for the future. Nevertheless, these governments also lack the proper knowledge, due to the censorship of economic science by the Dutch government (that doesn’t know what it is censoring).

I did enjoy the video by Bill Still on the Wizard of Oz. I knew from years back that the “Yellow Brick Road” was a reference to the gold standard, and so on, but Bill fills in historical details. It is also a serious issue whether money is in control by the state or by private banks, see my paper Money as gold versus money as water (2013). It is a no-brainer that money better be controlled by a democratic government.

It is a logical mismatch when the supply of money is associated with a rate of interest. If a private central bank with a monopoly on money creates a supply of 100 bn dollars in paper bills for use by the general public, and this supply is returned by the public to the bank at the end of the year, then it is physically impossible that the public can also pay an additional 5% rate of interest in terms of said paper bills, since all 100 bn dollars in paper bills have already been returned. It gives curious psychological power to such a bank to demand that the 5% interest is paid in terms of its own bills, though everyone should start laughing that the bank demands bills that it hasn’t issued itself. The current arrangements for the US Federal Reserve and the Bank of England suggest that there is private profit taking at the expense of those governments for no good reason (except lack of economic understanding in parliaments).

But it is incorrect when Bill Still suggests that issuance of money by the government means that there will be no National Debt. It is still possible that the government borrows from the public and builds up debt. It is advisable that the government does so, since e.g. pensioners would want a secure investment. That the current National Debts are excessive, is another story, see my Video.

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