Yep, he's got the bit about commercial banks creating money out of thin air right. But it's pretty much common knowledge and it's not something that is concealed by central bank officials. @leo25 posted this last week. It is an interview with Fed Reserve Governor Chris Waller. In it he explains that the digital money we use ie non-cash is a commercial bank liability, whereas cash is a central bank liability. In other words, we use government money for cash transactions and private money for digital transactions. It's important to understand though that commercial banks do so with the authority of government which guarantees that for every privately issued AUD, the RBA will back each one with government issued AUD. The RBA has education material explaining the two types of money used in the Australian economy and how money is created, here: https://www.rba.gov.au/publications/bulletin/2018/sep/money-in-the-australian-economy.html And in a speech by RBA Assistant Governor Kent here: https://www.rba.gov.au/speeches/2018/sp-ag-2018-09-19.html#how-is-money-created Unfortunately the author of the video concludes by going off in the wrong direction. It's not a criminal cartel that controls the sovereignty of nations and nowadays banks can't fail because they are fully backed by the central bank.
So if banks can’t go bust, from an investor’s point of view they make a sound buying opportunity. Naturally, you’d have to consider what the fair value is per share though. Anyone with any opinion on what they’re worth from that perspective! Do the Big4 offer corporate bonds for retail investors?
John Titus is a lawyer by trade and is currently suing the Federal Reserve. You should watch his other videos, they are an abundance of information.
On the topic of Lehman Bros, there has been a shift in regulatory/political opinion nowadays. Lehman Bros was allowed to fail. https://www.investopedia.com/insights/too-big-fail-banks-where-are-they-now/
Yep, Lehman Brothers failing was a choice. There was no fundamental reason why it had to fail. My guess is Richard Fuld wasn't playing ball and became a sacrificial lamb. From the looks of it, 2008 was just as orchestrated as 1929.
the borrower refused to pay up, hence it failed misserably it was by design remember that banks could not trust each other at that time one party borrow all that is available without the need and keep it for their plan... the rest is his-story
No much different from crypto: also made out of thin air! Just that it's trendy cool and people like to fool themselves. If they are sold a good story that brings hope, they will hook onto it. It's like soap operas.