Burning Money

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Garys Economics

Garys Economics

Ай бұрын

You could tax and burn the £700 billion given out in Covid and living standards would improve.
UNDERSTAND, SHARE & PUSH BACK
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Performed by Gary Stevenson
@garyseconomics

Пікірлер: 1 500
@sarawilliam696
@sarawilliam696 23 күн бұрын
For boomers and senior citizens, the current market and economy are unnecessarily harder. I'm used to simply purchasing and holding assets, which doesn't seem applicable to the current volatile market, and inflation is catching up with my portfolio. My biggest concern is whether I'll survive after retirement.
@carssimplified2195
@carssimplified2195 23 күн бұрын
Just buy and invest in Gold or other reliable stock , the government has failed us and we cant keep living like this.
@foden700
@foden700 23 күн бұрын
Yes, gold is a great investment and a good bet against the devaluating dollar, been holding some for awhile now, I’m grateful my adviser’s moment by moment changes in the market are lightening quick, cos who know how much losses I would’ve had by now.
@PatrickFitzgerald-cx6io
@PatrickFitzgerald-cx6io 23 күн бұрын
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
@foden700
@foden700 23 күн бұрын
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Colleen Rose Mccaffery” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
@PatrickFitzgerald-cx6io
@PatrickFitzgerald-cx6io 23 күн бұрын
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
@James-mb3je
@James-mb3je Ай бұрын
Money is like shit, if you spread it around it helps things grow. If you pile it up, it stinks.
@lazylad8544
@lazylad8544 Ай бұрын
😂😂
@wEstEgg8899
@wEstEgg8899 Ай бұрын
Haha 😂
@DrSanity7777777
@DrSanity7777777 Ай бұрын
"Money is like manure. You have to spread it around or it smells." - J. Paul Getty
@James-mb3je
@James-mb3je Ай бұрын
@@DrSanity7777777 I knew it wasn't an original thought. I prefer the updated version I wrote.
@robsthedon
@robsthedon Ай бұрын
@@James-mb3jemore contemporary, init.
@borisj
@borisj Ай бұрын
Imagine if, instead of Hunt, we had Gary as Chancellor.
@garyowen4112
@garyowen4112 Ай бұрын
just for starters we would be getting a honest person for a liar which could only be for the better
@Aeolus999
@Aeolus999 Ай бұрын
Does Gary really care though?
@katejacobs5491
@katejacobs5491 Ай бұрын
Perhaps not Chancellor, certainly inner circle of advisers. Improvement on Dominic Cummings and the rest. Or House of Lords; I’d support that.
@sinjinsmythe1571
@sinjinsmythe1571 Ай бұрын
He cares more than you ever have done or you ever will..... because you done sweet F.A!!
@gulyaspisti
@gulyaspisti Ай бұрын
The system is built on an idea that people like Gary could never get into power. The whole purpose of the parliamentary system to protect of the super rich.
@mrparry6028
@mrparry6028 Ай бұрын
Gary you cover the economic effects of inequality really well - what's missing here is that there is an effect on democracy too as when the rich get richer they become more powerful and democracy will reduce as they move to protect their power and wealth by influencing politics. You see this with the Conservative party and increasingly Labour too which has moved away from being a party funded by the membership and unions under Corbyn. The last two prime ministers were chosen by a few thousand Conservative party members and it is these people who will make political decisions relating to inequality.
@sheilaheard
@sheilaheard Ай бұрын
Gary does comment a lot on this. Watch his other posts.
@SarahMcCartney4160
@SarahMcCartney4160 Ай бұрын
There are so many comments popping up all over the socials criticising Labour for stuff they haven't done because they weren’t in power. 14 years of Tory destruction and you're having a go at Labour?
@mattgilbert7347
@mattgilbert7347 Ай бұрын
+1 he does. He understands the relationship between money and power
@Himself2019
@Himself2019 Ай бұрын
Gary doesn’t reply to comments but highlights financial analysis to making people aware of the causes of financial decadence and financial inequalities. Gary exposes the issues but not the solution. The real issue is a failed political system that calls itself democratic dating back to Cromwell. Time to move on utilizing modern technology, therein lies the solution.
@mattgilbert7347
@mattgilbert7347 Ай бұрын
Gary can speak for himself in the uploads, butI would say he does indeed touch on solutions, he outright states that we need democratic reforms, even revolutionary reforms for workers. It's old technology. It's been suppressed. Time to reclaim it.
@stenstenbk7287
@stenstenbk7287 Ай бұрын
I am increasingly impressed. Wish more people would watch you. Your clarity and perspicacity is truly impressive.
@lawrencebywater2112
@lawrencebywater2112 Ай бұрын
Really? Do you not think it’s just a repackaged 70’s Labour dogma? Yes he wears a beanie, and has that “one of the people” aesthetic, but i haven’t seen much on policy detail and proper analysis 🙏🏼
@apeacock233
@apeacock233 Ай бұрын
What was 70 s dogma? Most people who would be old enough to remember or understand that are probably in boot hill...
@apeacock233
@apeacock233 Ай бұрын
Never heard any politician tell it like this, possibly because they don't understand, care,or maybe its just their aversion to truth and the problems that come from an informed herd.
@MikeSmith-rd9fi
@MikeSmith-rd9fi Ай бұрын
@@lawrencebywater2112 lolz. perhaps you should look into his background
@MyDisavow
@MyDisavow Ай бұрын
​@@lawrencebywater2112 His policy is 'tax wealth'. It's pretty straight forward. I'm not sure how much detail you need.
@RichardCarloste
@RichardCarloste 27 күн бұрын
Thanks for sharing FET and AMSAPHM9💯
@ShalendrKumarmeraviShalendrKum
@ShalendrKumarmeraviShalendrKum 27 күн бұрын
I am also AMSAPHM9 Holders 🚀
@catherinraja6193
@catherinraja6193 27 күн бұрын
AMSAPHM9 is still extremely undervalued
@OPARYANMehra-lg9lr
@OPARYANMehra-lg9lr 27 күн бұрын
It is funny that not everyone knows about AMSAPHM9
@KartikBharat
@KartikBharat 27 күн бұрын
this is only crypto project that I see has real use
@sahidesorkar
@sahidesorkar 27 күн бұрын
AMSAPHM9 is still extremely undervalued
@MrGavinBoyd
@MrGavinBoyd Ай бұрын
The problem with Thatcherism is that you eventually run out of assets to sell to overseas investors so that they can rip off British consumers.
@uniteddreamer
@uniteddreamer Ай бұрын
Just the NHS left...
@LS-xs7sg
@LS-xs7sg Ай бұрын
That is true but in order to oppose selling off public assets you probably need an ideology which implicitly rejects the universalism of the new left AND the new right. You have to basically say “the British governments responsibility is to the well being of the British people to the exclusion of others”. And to “progressive” leftists, liberals and free market globalists that is basically a heresy
@keycuz
@keycuz Ай бұрын
There's about 70 million people living here, full of assets. Once the suicide pill gets legalised, we can become organ harvesting capital of the world.
@billB101
@billB101 Ай бұрын
We call it Thatcherism, but we really should call it for what it was, Milton Friedman( ism)
@stephfoxwell4620
@stephfoxwell4620 Ай бұрын
@@billB101 Friedrich Hayek.
@levantos
@levantos Ай бұрын
It's scary how much farm land and homes they're buying up each year in cash usually overpaying as well which drives up prices for everyone. Pension funds are doing this as well. Makes you wonder what's going to be left in 5-10 years time
@staceyjinuk9714
@staceyjinuk9714 Ай бұрын
Its worse than that. The NHS is being carved up by corporations. The food producers. Clothing. Every aspect of our life is owned by big business corporations. This is what he is actually talking about. 🌹
@infour44
@infour44 Ай бұрын
Yes, there’s a lot of smaller farms being bought up solely for their carbon offsets. Corporates are taking them out of production and consequently closing local stores, schools and communities in general.
@CheGuevara287
@CheGuevara287 Ай бұрын
The people that call this politics of envy are slugs for salt.. they will either realise they’ve been wrong and brainwashed or be king of the ashes.. keep doing what your doing Gary your one of our beacons of hope to one day make change to this country ✊🏼
@oliverp3545
@oliverp3545 Ай бұрын
Alot of people are ladder kickers, always wanting themselves to be better off for others to be worse off.
@simonhenry7867
@simonhenry7867 Ай бұрын
​@@oliverp3545it's worse than that, it's people who are living well not realising they are the poor who just haven't had the tide of shit that is "rent seeking" lap at thier door.
@tiddlypom2097
@tiddlypom2097 Ай бұрын
I got the "you're just envious of the rich" put-down from a young, aggressive get-rich-quick guy. The kind who's hunting for some hot investment (like the start of a ponzi scheme), so he can get his.
@theocroker-sd6zk
@theocroker-sd6zk 25 күн бұрын
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 17k in last month 2024.
@mark-fm6ey
@mark-fm6ey 25 күн бұрын
Wow that's huge, how do you make that much monthly?
@kevingutierrez-nc8gw
@kevingutierrez-nc8gw 25 күн бұрын
I'm 44yrs and have been looking for ways to be successful, please how?
@theocroker-sd6zk
@theocroker-sd6zk 25 күн бұрын
Honestly speaking, I will continue to trade and stick to Juliana Heidi daily analysis and guides as long as it works well for me..
@bryanvaughn2
@bryanvaughn2 25 күн бұрын
For real? I'm super excited. Juliana heidi strategy has normalized winning trades for me also. and it's a huge milestone for me looking back to how it all started😀
@harryspottuer
@harryspottuer 25 күн бұрын
I'm overwhelmed coming across you guys testifying about this wonderful lady. Love from Calgary, Alberta🇨🇦😀
@philipharris2319
@philipharris2319 Ай бұрын
Thank you for another awesome video. We need to talk to our young in this country and teach them this stuff because they're not going to get taught this stuff in school and it will be them and their children that'll be impacted the most by this and by then it'll be too late to reverse the situation. Educate the young now!! 👏🏻 💪🏻👏🏻
@dylanp7416
@dylanp7416 Ай бұрын
I don't understand how you can spell it out for everyone in such a way and the Labour party offers no actual alternative to addressing the wealth inequality gap. Given it's an election year, it would be useful to hear your perspective on how we could vote / what party looks the most likely to address the issues you raise. I'm 26 and pretty much everyone I know is very disengaged with politics, but I guess the only way on going about making a change is by spreading the word. Love the content Gary!
@bigdaz7272
@bigdaz7272 Ай бұрын
We cannot Vote our way out of this in our First Past the Post system. I would say if one party puts it as a Manifesto Promise to introduce Proportional Representation vote for them other than that vote to prevent either Tory Blue or Tory Red from gaining a Working Majority, gotto break this 2 Wings of the same Bird Cancer.
@thegrowl2210
@thegrowl2210 Ай бұрын
Proportional representation is the only way forward. But what party that has won under FPTP will propose that?
@bigdaz7272
@bigdaz7272 Ай бұрын
@@thegrowl2210 Honestly i think we gotta force it by breaking the backs of a working majority of the Two Cheeks of the same Ass Parties so we can get a party in the running who will?
@grifferz
@grifferz 25 күн бұрын
When you try to take power away from the 3 media barons that control all UK media they will mobilise and destroy your political party. You can explain things like Gary does until your voice gives out but when every red top and TV news and other YT talking head is telling the working and middle classes that the party are communists who want to stop them becoming wealthy, you will not get the votes. To deny this is to argue that voters will never vote irrationally and against their own interests. Something no one can be serious about given even the past decade.
@Lagr3n
@Lagr3n 29 күн бұрын
I love how you explain seemingly complex concepts in a very simple and snackable manner. The worst thing is that the poor and middle class has been programmed to believe that taxing the rich is somehow bad/ communism... That's a not a conincidence, but it's hard to reverse
@abcschoolofenglish6982
@abcschoolofenglish6982 Ай бұрын
Taxing the super-rich is incredibly challenging due to their mobility and resources, enabling them to relocate to tax-friendly countries, utilize offshore trusts, and employ top legal and accounting experts. Moreover, they often exploit corruption to obstruct national and global efforts aimed at curbing their wealth, influencing policymakers and manipulating regulations to their advantage. Tackling this issue requires addressing both their mobility and the corruption that enables their evasion tactics. Furthermore, the intricate, often symbiotic relationships between the corrupt political class and the super-rich further complicate efforts to implement effective taxation measures. These relationships go beyond mere financial influence, extending to social circles, intermarriages, and aspirations for upward mobility. Members of the political elite may seek to align themselves with the super-rich for personal gain, whether through access to wealth, social status, or future career opportunities. This interconnectedness can result in policies that favor the interests of the wealthy over the broader population, perpetuating systemic inequality and hindering meaningful reforms. Addressing this issue requires not only combating corruption within government institutions but also challenging the entrenched power dynamics that reinforce these relationships.
@evildrome
@evildrome Ай бұрын
The super-rich are physically mobile but their "tax base" is fixed. Its you & me & the land of the country. Basically you tax the income at source, before it goes anywhere else. Lets say you live somewhere with a 15% tax. You get taxed at 40% in the UK and you get a 40% tax credit so you don't pay another 15% where you are. Currently you pay 0% tax here and 15% where you are. That has to end.
@Lagr3n
@Lagr3n 29 күн бұрын
That's true. All the fancy taxation schemes have loopholes built-in on purpose, so that the rich can avoid basically paying any taxes. While the rest either cannot use them as they are salaried (so they already gets the after tax amount) or it's made this way so that it's only getting beneficial to use from a certain threshold that only the top 1% reach
@truxton1000
@truxton1000 28 күн бұрын
@@evildrome Won't work, as these people will just move away. It has happened in EVERY country that tried to tax the rich, they move away, unless they are denied a passport, and/or to transfer the money abroad. So it can't be done. The best one can do is to make sure the state is not vasting tax money. And now they spend a lot on things that should never be allowed. It's a great idea that the state should do everything for us but who wants to live like in the Soviet Union? Very very few, that's for sure.
@cryptoslacker-464
@cryptoslacker-464 27 күн бұрын
I Was thinking something similar. Or is it just the a lie they have spread to justify them not being taxed . If they want to sell there stuff in a market ,shouldn't they pay for access to that market ?
@truxton1000
@truxton1000 27 күн бұрын
@@cryptoslacker-464 Well we all “pay for access”, as the business pay VAT on their sales, and the people working for the company pay taxes on their salaries plus all kinds of fees etc etc. The issue with not paying tax on the profit is the fact that global companies deduct losses in country towards the profit in another. This practice needs to be looked at for sure. How many jobs has Amazon itself cost most western countries? No one knows.
@EducationevolutionOrg
@EducationevolutionOrg Ай бұрын
Thank you for keeping your spirits & your dedication up.
@josephpineapples
@josephpineapples Ай бұрын
Quality as always Gary. You’ve earned yourself one of those biscuits mate.
@renocence
@renocence 26 күн бұрын
As an American, I can say that a huge amount of his argument is not only direct applicable to the states but I have personally observed some of it. We appear to be in the same boat; hello neighbors.
@That.Channel593
@That.Channel593 29 күн бұрын
This channel is the best. Keep it going Gary
@kerianos
@kerianos 27 күн бұрын
Brilliant! Thank you for taking the time to explain this.
@bombers7878
@bombers7878 Ай бұрын
99%+ of people, including the rich, don’t realise the existing class war against working people because our culture can’t deal with the idea of class. This is the dark side of liberalism, held firmly by the centre left and right. That your success is predominantly a function of your choices and not only does the market work, it SHOULD work. The ideology is so omnipresent we don’t even see it. Like Gary, I did economics at a good uni and bought into all this. It took the GFC and losing my job to start questioning things. The message needs to be wall to wall and populist.
@rolyars
@rolyars Ай бұрын
We understood this for 200 years. Then after the postwar economic boom things got radically better for the working class and the class war was forgotten. But not by elites, who reignited it in the late 70s.
@vindex7309
@vindex7309 Ай бұрын
In my opinion, it’s less that people can’t deal with class and more work is valued strangely. The biggest thing our society has forgotten is that there is a certain amount of risk that is tied to high value jobs. If you want something consistent chances are you won’t earn a lot doing it. Inversely, there -are- consistent paying jobs that disproportionally pay a handsome salary. CEOs come to mind. I’m not saying that their job is easy, but can you really say that a CEO works 400 to 1000 times harder than a floor employee? What sort of risk does a CEO take on when they inherit a Fortune 500 company with a golden parachute handy if things go bad? Does a football player or a singer provide significantly more value than a high school teacher? There are highly visible discrepancies in the way our economy values work and people are getting fed up with getting crumbs when others take huge chunks of the cake.
@davegubbins4428
@davegubbins4428 Ай бұрын
one of the major benefits of leaving the uk (for 6 months or more) is that it enables you to realise just how powerful the omnipresent tory/neoliberal propaganda machine that permeates every corner of that nation is...simply because you are no longer having it pumped into your life. That realisation is as revealing as it is depressing. the (very) depressing part is that, now, you can see right through it, see how carefully crafted the machin'es output is, see the endless flow of (invariably wealth serving) attacks/robberies that it blinds your fellow citizens from even suspecting are happening, let alone sees them demanding an end to and/or immediate, independent and serious investigation into ! You see how it covers the ruinous corruption/crimes again and again with the same old alibis/cover stories which are always built around the same two carefully selected concepts: 'blundering' and 'incompetence'. And then you come to realise the real reason such a contrived fuss is made around "the spread of misinformation" and it's 'inherent dangers' .
@chrisclassical7
@chrisclassical7 Ай бұрын
what is gfc
@Bobbisox-wo7zu
@Bobbisox-wo7zu Ай бұрын
We are sleep walking into agenda 2030 and the Davis plan.... 🤦🏼‍♀️
@stevieboy1984
@stevieboy1984 Ай бұрын
Totally agree with this, but as a voter in the UK I don't know who to back to make this happen. Trusting the parties is hard to do and most seem out to serve themselves...
@MattDW45
@MattDW45 Ай бұрын
Here in the UK it’s a matter of one step at a time. What has to happen right now is that you vote for whichever progressive party candidate (Liberal Democrat/ Labour/ Green) is most likely to beat any other party in your constituency. Then once a progressive party is in power you and everyone you know have to send letters and letters and petitions to your MP for a more proportional/ democratic electoral system (look up the campaign for electoral reform). Once the system of Government is made better it will be easier for you to know who to back to get the change you want.
@CuriousCrow-mp4cx
@CuriousCrow-mp4cx Ай бұрын
The UK Ship of State is not a Taxi that can turn on a sixpence. The UK's turning circle is large, and it's engines are more like those of the MV Dali right now - suspect, poorly maintained, and in need of repair. The postwar years or so have been a big psyop, where the insecurities of the British establishment have steered this country into even more troubled waters than the UK faced after World War II. And unless everyone else wakes upto that fact, nothing much will change. We have to be the change we want to see in the world, and voting is only a very small part of that, but still important. Voting alone won't change things. We have to stop believing absurdities before we can stop committing atrocities on ourselves and others. Just a thought.
@stevieboy1984
@stevieboy1984 Ай бұрын
Thanks, that's sound advice
@Himself2019
@Himself2019 Ай бұрын
Gary doesn’t reply to comments but highlights financial analysis to making people aware of the causes of financial decadence and financial inequalities. Gary exposes the issues but not the solution. The real issue is a failed political system that calls itself democratic dating back to Cromwell. Time to move on utilizing modern technology, therein lies the solution.
@juliansykes960
@juliansykes960 Ай бұрын
Absolutely right that it’s all really about distribution. I was once asked for my definition of Politics by a Professor of politics. My definition was (and is) it’s all about the distribution of power and wealth. If you want a definition of economics, just flip it round.
@evildrome
@evildrome Ай бұрын
Yep, power, wealth, information. You can swap any two for the third.
@stuartwatson8180
@stuartwatson8180 12 күн бұрын
Gary you are a legend! Thank you for being a true voice of the people on these complex financial matters! 👊🏻
@Alex-cw3rz
@Alex-cw3rz Ай бұрын
And as you have said before the argument of "they will just leave" is nonsense as there wealth is in assets and as Russian Oligarchs have shown even when banned from the nation it is exceptionally hard and for most of their assets impossible to get rid of them without huge loses. And a recent LSE paper showed that if you want more rich people living in your nation what attracts them most is not the taxes but how much they'd like to live there. I.e. clean streets, activities, beautiful architecture, the centre of music and fashion etc.
@ethelmini
@ethelmini Ай бұрын
Their money is in assets. The wealth is the asset. Its (monetary) value, relative to the productive labour that creates wealth has been inflated. When Marx wrote Das Capital, money had labour value through the gold standard. The price of gold was related to the human effort in finding it & digging it up. We should think about what, if anything, gives money its value now.
@EMan-cu5zo
@EMan-cu5zo Ай бұрын
@@ethelminigold is money everything else is debt. JP Morgan said that a long time ago.
@robinmorritt7493
@robinmorritt7493 Ай бұрын
Gimme a link to the LSE paper, Alex, pretty please. 😇 Or are you referring to the LSE news article "Britain’s super rich unlikely to move to ‘boring’ and ‘culturally barren’ tax havens". If so, I'll read that. 😊
@daveturner4134
@daveturner4134 Ай бұрын
@@robinmorritt7493 The trouble is, when the rich move in, the first thing to go is things that don't make money, like culture and arts...
@robinmorritt7493
@robinmorritt7493 Ай бұрын
@@daveturner4134 I confess I tend to see things the other way round.
@thetradingfloorinstituteby9453
@thetradingfloorinstituteby9453 29 күн бұрын
I'm currently reading your book. It's incredibly fascinating and well written. Well done
@terencemichaels
@terencemichaels Ай бұрын
Thanks Gary....informative as always. Keep banging that drum.
@federicoprice2687
@federicoprice2687 Ай бұрын
Awsome video Gary, yet again. Bravo
@stuartwatson8180
@stuartwatson8180 12 күн бұрын
Money is not a real resource, it is the resource we use to determine the distribution of real resources. ✊🏻👊🏻💚
@jhoffman3236
@jhoffman3236 Ай бұрын
Another lucid and brilliant video, Gary. Everything you say about the U.K. Directly applies to the U.S. as well. There has been a long standing, bipartisan blob, corporate media, ruling elite, consensus that class and inequality are not discussed or debated. Once enough people wake up and unite, we can not be divided and conquered anymore.
@Maximissesable
@Maximissesable 23 күн бұрын
In Australia too
@brothermoto1964
@brothermoto1964 Ай бұрын
Spot on. Keep it up Gary.
@davidburgi9629
@davidburgi9629 Ай бұрын
great video, quick, crunchy, controversial, but going over everything relevant in a deep enough way that is still understandable. and it does not end up in a bunch of superficial clockbait bullshit. really smart stuff. i'm shure this kind of content will increase your reach and your following further. more power to you💪
@Vroomfondle1066
@Vroomfondle1066 Ай бұрын
The MMT position, which puports to be a more accurate description of the mechanics of public finance than mainstream neo-classical economics is that in in countries like the UK/US all tax is effectively "burnt" on receipt as a matter of course - therefore to redistribute the old money from the rich would would be 'burnt' 'through taxation and new money would be spent into the economy with the poor as the recipients.
@franceshorton918
@franceshorton918 Ай бұрын
Way back, my Dad suffered terribly during the great Depression, growing up in London. He had time to deeply consider 'what the hell was going on?' What caused this? Major Douglas formed a political party 'Social Credit'. Their main policy plank was that money is created as a debt. Which requires more debt in order to repay it. Dad saw the craziness of that straight away. When Dad and Mum emigrated to New Zealand in 1949, Dad joined the NZ Social Credit party. It enjoyed moderate success for a decade or two, then fizzled out. Sabotaged from within and without. Thatcherism could also be called "neo-liberalism" and here in NZ it's called Rogernomics, after Roger Douglas, a politician who "reformed" NZ's economy by utterly wrecking it. We are still living with the carcass of that rotten period of economics. And worldwide debt levels are catastrophic. At all levels, from personal debt to international debt. Will the pyramid scheme collapse one day soon? I'd love to hear from Gary about the creation of money as a debt, and the fragility of our international financial/monetary systems.
@Himself2019
@Himself2019 29 күн бұрын
Cool man 😊
@evildrome
@evildrome 26 күн бұрын
All money is created as debt because that's what money is. All "financial instruments" have an "asset" and a "liability". Someone owns the asset and someone has the liability. The fact that someone "owes" you something is your asset and their liability. Gold, for example is not a "financial instrument". It is a commodity with inherent exchange value. Imagine you are a new government. You have £0. You want to create £1, what do you do? You create £1, an asset, and £1 of "national debt", the liability. Essentially you're taking what you have, which is zero, and splitting it into +1 and -1, which = zero. When you go to a bank and take out a loan its YOU that creates the money. When you sign a loan agreement, you have created an asset and a liability. All the bank does is buy the asset (the loan agreement) from you. From Proffesor Richard Werner: "Banks don't lend money. At law, it's very clear, they're in the business of purchasing securities. That's it. So you say okay, don't you confuse me with all that legalese, no, I want a loan. Fine! Here's the long contract, here's the offer letter and you sign. At law it's very clear you have issued the security, namely a promissory note, and the bank is going to purchase that. That's what's happening. Put it in layman's terms what does that mean? It means that what the bank is doing is very different from what it presents to the public that it's doing. What we call a deposit is simply the bank's record of its debt to the public "
@MalcolmMXTaylor
@MalcolmMXTaylor Ай бұрын
Another great video gary!!!
@Watka-Pro
@Watka-Pro 16 күн бұрын
Thank you for this education.
@CarrilloRalls-qg2gd
@CarrilloRalls-qg2gd Ай бұрын
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you... prevent inflation
@CarrilloRalls-qg2gd
@CarrilloRalls-qg2gd Ай бұрын
A lot of people still make massive profit from the crypto market, all you really need is a relevant information and some ‹professional advice. ‹it's totally inappropriate for investors to hang on while suffering from dip during significant
@CarrilloRalls-qg2gd
@CarrilloRalls-qg2gd Ай бұрын
No I don't trade on my own anymore, I always required help and assistance
@CarrilloRalls-qg2gd
@CarrilloRalls-qg2gd Ай бұрын
From my personal financial advisor
@CarrilloRalls-qg2gd
@CarrilloRalls-qg2gd Ай бұрын
Here is her line she’s always active
@CarrilloRalls-qg2gd
@CarrilloRalls-qg2gd Ай бұрын
+1667
@Alex-cw3rz
@Alex-cw3rz Ай бұрын
It is no coincidence that the highest GDP growth the UK has had since WW2 was when we also had the highest tax rates on the rich.
@CCP_Operative
@CCP_Operative Ай бұрын
Well it might be
@Alex-cw3rz
@Alex-cw3rz Ай бұрын
@@CCP_Operative well it wasn't because everytime the tax on the rich has dropped GDP has also dropped. Less investment equals smaller growth. Therefore lowering your income is only going to decrease investment in the country.
@stevenfarrall3942
@stevenfarrall3942 Ай бұрын
And think how much better we would have done without that confiscatory taxation. Essentially you are saying that government and bureaucrats are better asset allocators than private individuals. And the evidence of all of history is that that is emphatically not the case.
@Alex-cw3rz
@Alex-cw3rz Ай бұрын
@@stevenfarrall3942 well seen as GDP was growing quicker when the tax was higher. I'd say that is a great indicator that the government was better at allocating that money, as they invested it in the country to improve it, whereas a rich person invests for themseleves to make money, so they will just buy stocks which unless it's the initial sale it does nothing for the economy or they buy housing, which just increases the price of housing which means people are spending less in the economy and more on housing constricting the economy. Not to mention investment is pre tax meaning that high taxes incourage investment so let's say you are correct and the rich person is a better allocator well high taxes forces them to allocate. Whereas low taxes will make them take the money out of the economy.
@bramvanduijn8086
@bramvanduijn8086 Ай бұрын
GDP also counts unproductive financial trading as if it were productive, so it isn't a good measuring tool of productivity.
@user-hk8ix3nj4s
@user-hk8ix3nj4s Ай бұрын
Thank you!
@liamhansell
@liamhansell Ай бұрын
Amazing video. Really helped me understand the problem we’re facing. 😎👍🏻
@samward417
@samward417 Ай бұрын
are you going to eat those biscuits mate... they've been on the table a while now.
@staceyjinuk9714
@staceyjinuk9714 Ай бұрын
I was literally gonna ask "what's with the sad little biscuits? "🤣
@stevenfarrall3942
@stevenfarrall3942 Ай бұрын
@@staceyjinuk9714 Or the other way about. You need less and less gold to buy them bits of (intrinsically valueless) paper.
@sandroaces
@sandroaces Ай бұрын
Lol
@PHI77IP85
@PHI77IP85 Ай бұрын
Don't let the biscuits distract you that's how we end up in these situations
@staceyjinuk9714
@staceyjinuk9714 Ай бұрын
@@PHI77IP85 I listened mate, seriously, I can do both hear and see at once, I'm dead clever 😐
@stevenfarrall3942
@stevenfarrall3942 Ай бұрын
It's not an 'increase in the gold price'. It's a collapse in the 'price' of GBP.
@PowerhousePearson
@PowerhousePearson Ай бұрын
Yeah, just takes more bits of paper to buy the same amount of gold.
@adamstevens6299
@adamstevens6299 Ай бұрын
I agree with this concept! Very insightful.
@Jango1989
@Jango1989 Ай бұрын
Thanks Gary. I hope we can find a way to get people to pay attention to your message
@jakobthomsen1595
@jakobthomsen1595 Ай бұрын
"Money is the resource which we use to determine the distribution of the real resources." (7:03) Well said!
@georgek7831
@georgek7831 Ай бұрын
A Song dynasty emperor did just that against Inflation and it worked if I remember correctly.
@hafstrat
@hafstrat Ай бұрын
Just finished your book. Amazing journey you’re on. Amazing!! A must read. I worked for the construction company who put the steel deck floors into Canary Wharf. 80’s was a boom. With 91 crash the company was sold off by its parent Trafalgar House. I lost my mind and then my job. Man there are many others with similar trajectories but in different scenarios and less “extreme” than yours but with common driving factors. And consequences. The desire for money ( security in my case and the need to pay off a mortgage with double digit interest rates. ) Thanks Maggie. and the fear of loosing everything. Chasing that whale…. .
@vedantbachhav4011
@vedantbachhav4011 13 күн бұрын
Very Good Gary well explained !
@christurner1937
@christurner1937 Ай бұрын
If you gave £16k to everyone they would just spend it on stuff owned by the really rich and the wealth would just transfer back to the really rich and society would be left with high inflation as people compete for stuff and on the back of that demand the really rich put the prices up to offset their loss. Better the money was destroyed or the government found an asset that was hard and scarce to anchor the currency.
@lazylad8544
@lazylad8544 Ай бұрын
I'd pay mortgage or car or credit card bill. I won't waste it on clothes, holidays or botox.
@keithparker1346
@keithparker1346 Ай бұрын
Where do you get any evidence that people would not use it for training , paying off debt or many other things?
@christurner1937
@christurner1937 Ай бұрын
How many lottery winners stay rich?
@christurner1937
@christurner1937 Ай бұрын
And by paying debts off, you again are just transferring back the cash to the mega rich who lent you the money for the life you couldn’t afford.
@2Question-Everything
@2Question-Everything 26 күн бұрын
@@christurner1937And then you tax them again! You should look at the results of the studies that gave regular payments to poor people. They made wise choices-ate better food, got the car fixed, went to the dentist-supporting the local economy, could take time off from the low paying job to go interview for a better paying one. Poverty is a lack of cash, not a lack of character. And poor people know better what they need than those who think they are above them.
@churchofburn
@churchofburn Ай бұрын
Bless you, Gary! Thank you for spreading the word of the burn! (Even though you back track near the end.) Beyond being a 'relative resource' money is an ideology. Burning it has a power way beyond a rational analysis of the economic outcomes. You'd be very welcome to come do it for real at our next event and find out for yourself. Xx
@andydiamantis5553
@andydiamantis5553 Ай бұрын
So the purpose of taxation is to prevent asset price bubbles?
@shannonwells6434
@shannonwells6434 Ай бұрын
Thanks Gary, great stuff as always!
@pettergasstrom8797
@pettergasstrom8797 Ай бұрын
KLF is gonna rock you
@user-sd3ik9rt6d
@user-sd3ik9rt6d Ай бұрын
Justified !
@jami7772
@jami7772 Ай бұрын
Ha ha you beat me to it !
@dalek604
@dalek604 Ай бұрын
Oh dear, I'm so unoriginal 😂
@mauricerevelle8451
@mauricerevelle8451 Ай бұрын
Or the Old Gits on Harry Enfield..
@kasperhauser987
@kasperhauser987 Ай бұрын
Burnt a million
@lucky1989
@lucky1989 Ай бұрын
Tell em you aren't suicidal cause you are getting too close
@corvus1238
@corvus1238 Ай бұрын
Sad to say but that is a thought that has occurred to me too.
@mattlaird196
@mattlaird196 Ай бұрын
Yeah bro, love Gary. But I'd be very suprised if he makes it to 2025. Especially how quickly hes gaining traction. This mans got his finger right on the pulse.
@voidwraithprime8521
@voidwraithprime8521 Ай бұрын
Great explainer. Thanks Gary.
@chrisbirkin1178
@chrisbirkin1178 Ай бұрын
Another insightful video Gary. I’m intrigued as to how on an individual basis can I affect a change?
@fanfeck2844
@fanfeck2844 Ай бұрын
I certainly think we should stop foreign wealth buying our assets
@livanoguerrero3385
@livanoguerrero3385 Ай бұрын
Foreign wealth buys from the wealthy not from the asses...
@Craig121000
@Craig121000 Ай бұрын
Absolutely not, the country would collapse. And you'd be to blame.
@fanfeck2844
@fanfeck2844 Ай бұрын
@@Craig121000 what benefits do they bring? Just asset inflation, and that’s of no benefit
@Craig121000
@Craig121000 Ай бұрын
Find the billions to buy those assets, and buy them. Quit your yapping.
@fanfeck2844
@fanfeck2844 Ай бұрын
@@Craig121000 thanks for not answering the question
@Ifti626
@Ifti626 Ай бұрын
I guess now it's time you should dive into Austrian economics to better understand the evil side of mainstream keynesian milton fridman economics. Highly suggest to everyone to read the book or watch the documentary ,The Shock Doctrine (rise of disaster capitalism) by Naomi Klein. You may also want to check what a guy named Saifedean Ammous has to say.
@2Question-Everything
@2Question-Everything 26 күн бұрын
Evil evil Milton Fridman. Didn't he screw over South America in the 70's. He and the Chicago boys?
@5MOBILE
@5MOBILE Ай бұрын
Super interesting perspective about money being a relative resource and politics of power. It feels like you're touching the core problem of inequality and making it accessible.
@janedieuart
@janedieuart Ай бұрын
Brilliantly explained. I'm reading your book Gary, love it, can't put it down!
@notmyname4261
@notmyname4261 Ай бұрын
Inequality has been rising since Thatcher. The rich use every situation to get richer. Austerity causes inequality.
@ra22xa
@ra22xa Ай бұрын
Thank you. We need more people like Gary. We also need to consider a future where KZfaq tries to hide Gary and the likes message .... for now it seems the Billionaires are not worried about this messaging.
@TheLucanicLord
@TheLucanicLord Ай бұрын
More of his what?
@parsley8554
@parsley8554 24 күн бұрын
Very clear concies very good video ❤❤❤
@chrismoore7700
@chrismoore7700 Ай бұрын
Best one yet. Clear, concise, compelling, easy to visualise. Really good to hear economic definitions of "money", and what it actually is. To further articulate what's going on, it might help to use the full word when talking about working, middle, and upper "class". It's "classification". We are classified and ascribed value according to wealth. Not according to intrinsic worth as humans. We are all "classifications" within a system that is inherently anti-human in nature. One that's based on perpetual growth through cruelty. One that's not compatible with democracy. And is now eating democracy, sucking it into the void at the centre of unaddressed individual pathologies.
@sylvsal834
@sylvsal834 Ай бұрын
Always good to hear your views Gary. Will share as usual but what else can we do? How do we get more involved in your campaign?
@anthonymorrison6557
@anthonymorrison6557 Ай бұрын
The introduction of a Bitcoin ETF marks a groundbreaking moment in the cryptocurrency world, merging digital currencies with traditional investment methods. This innovation could stabilize Bitcoin prices and broaden its appeal to a wider range of investors, potentially increasing demand and value. At the heart of this evolution is Sarah Jennie Davis, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment
@jonesfrederick1228
@jonesfrederick1228 Ай бұрын
The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH... Stock)
@anthonymorrison6557
@anthonymorrison6557 Ай бұрын
She is really a good investment advisor. I was privileged to attend some of her seminars. That is how I started my crypto investment
@terry5468
@terry5468 Ай бұрын
I have heard about her excellent trading expertise in CNBC news, guess she's more popular in United States
@udeikechukwu2348
@udeikechukwu2348 Ай бұрын
YES!!! That's exactly her name (Sarah Jennie Davis) so many people have recommended highly about her and am just starting with her from Brisbane Australia
@hunnycundiff6835
@hunnycundiff6835 Ай бұрын
This sounds so good and i would like to be a party to this, is there any way I can speak with her?
@CORRIGEEN71
@CORRIGEEN71 Ай бұрын
Hi Garry is it possible to get a meeting with uk government officials to share your ideas, iam assuming no
@donnnaread6947
@donnnaread6947 Ай бұрын
We need leaders who will listen and act on Gary's advice x
@Anosha116
@Anosha116 28 күн бұрын
Gary I love the way you explain Economics so easy to understand. I think the money should go to health care and social services. I am promoting your website as much as I can
@Hencid
@Hencid Ай бұрын
this is unironically one of my favorite channels
@micromachineswasgreatonseg9316
@micromachineswasgreatonseg9316 Ай бұрын
Gary, u should do the David McWilliams podcast
@Known-unknowns
@Known-unknowns Ай бұрын
Gary, for Christ sake eat the biscuits. They’ll go stale.
@johnbehan1526
@johnbehan1526 Ай бұрын
Also, unless they are consumed, the value of those biscuits in Gary's portfolio is going to drive a further increase in the wealth gap.
@corvus1238
@corvus1238 Ай бұрын
I don't know if he ever washes up but the Fairy Liquid isn't going down either.
@DeputyChiefWhip
@DeputyChiefWhip Ай бұрын
Hes waiting til the stock price on biscuits fall! 😂
@mawkernewek
@mawkernewek Ай бұрын
This reminds me of the screen in Theme Hospital where you have to reach a pay agreement for your staff before the biscuits run out
@Jo0Lz_U_TuBe
@Jo0Lz_U_TuBe 27 күн бұрын
great video yet again
@mike569112
@mike569112 Ай бұрын
Good call sir. 👍
@Steve-bi2ic
@Steve-bi2ic Ай бұрын
Isn’t giving 16k to everyone the same as the job retention scheme? In one of your other videos about the flow of money you made the case for that money ending up with the rich, wouldn’t it just flow back to them?
@plagiarisedwords
@plagiarisedwords Ай бұрын
During COVID, people's ordinary income went to zero. This would be money on top of your ordinary income. Also, that'd why he talked about burning the money. The impact of the rich losing the money is as important if not more important than ordinary people gaining it
@richardblackmore348
@richardblackmore348 Ай бұрын
Perhaps we should return to Biblical principles as found in the Tora. Jews were not allowed to practice usury and even assets that were acquired had to be returned to the original owner every 50 years or jubilee in order to keep a check on the accumulation of wealth at the expense of others.
@mawkernewek
@mawkernewek Ай бұрын
​@@plagiarisedwords The problem with the Covid furlough scheme is that it was 80 % of your income so rich people got more than poor people. Also rich people had drop in discretionary spending like holidays meals out etc. which offset any drop in income. Poor people didn't really experience a drop in outgoings.
@bisiriyutajudeen5728
@bisiriyutajudeen5728 Ай бұрын
@plagiarisedwords Burning money is a nonsensical suggestion to be honest. Removing the ability of the gov/central bank to print money IS the only solution. Everything else is just mental masturbation no different from what MMT proponents spew. You stop the bleeding and not plaster over it.
@2Question-Everything
@2Question-Everything 26 күн бұрын
And we keep taxing the rich at high rates-make it a quarterly event if not annually.
@PipeOPhile
@PipeOPhile Ай бұрын
Joker was right all along
@mbs7966
@mbs7966 Ай бұрын
Thank you for this.
@Alex-cw3rz
@Alex-cw3rz Ай бұрын
Your videos are so important
@ChrisMewburn
@ChrisMewburn Ай бұрын
Thank you for sharing your knowledge, and for fighting for equality.
@Craig121000
@Craig121000 Ай бұрын
There's no such thing as equality.
@Roberta80
@Roberta80 Ай бұрын
@@Craig121000 In the UK? You're absolutely right - equality is a fading memory.
@Robcomments
@Robcomments Ай бұрын
Wealthy will fight back to protect their wealth and most western countries are only surviving because of the quantitive easing corruption. We will always have conservative/Republican parties in power of democracy happy to undermine higher taxation policies and the wealthy take full advantage of that. Also as a politician you talk about higher taxation not many wealthy families will vote or donate to them.
@al3xf103
@al3xf103 Ай бұрын
That last part is crucial, party donors will dry up for established parties so Gary’s ideas will never make it into policy with them. Needs to be a self sufficient smaller party or grassroots campaign or something ..
@tomassey123
@tomassey123 Ай бұрын
Preach Gary!
@AGBDej
@AGBDej Ай бұрын
Thanks Bro
@jordyjcross
@jordyjcross Ай бұрын
Hi Gary, fantastic channel. Who should we vote for mate? Who do you trust to implement or even entertain these ideas? I’m lost. Cheers
@garethhhhh
@garethhhhh Ай бұрын
It's not on offer, no party supports it. They all offer various levels of iniquity. Remember, they're rich and are owned by the rich.
@cheesi
@cheesi Ай бұрын
Now to mitigate damage I'd say vote for just about anyone who's not a tory and is likely to win, but voting is not the end of the story. None of the existing parties will meaningfully change this system as things stand. Big changes come from educating, agitating, organising, etc.
@jordyjcross
@jordyjcross Ай бұрын
@@garethhhhh but presumably it could be if we could put enough pressure on - was interested to see who Gary thinks would give the ideas the most welcome reception…
@user-sk8gq3yl9q
@user-sk8gq3yl9q Ай бұрын
Labour will win the next election and with their current platform will fail to solve the country’s problems. This will leave them open to attack and they’ll need to either pivot to less orthodox solutions or they’ll be a 4-5 year one time government.
@MarisKumar
@MarisKumar 11 күн бұрын
Our congress has no idea how we Americans are feeling, we individuals are fed up with this treasonous administration. I feel for people with disabilities for not getting the help they deserve... Thank you Sarah Hudson.. imagine i invested $4,000 and received $6,550 in 4days.
@VidaTitiana
@VidaTitiana 11 күн бұрын
Same here, I operate a wide - range of investments with help from my financial advisor. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Sarah Hudson, has been an amazing experience.
@LillieTamara
@LillieTamara 11 күн бұрын
As a beginner, it's essential for you to have a mentor to keep you accountable. I'm guided by a widely known crypto consultant, same Sarah Hudson mentioned here
@CassandraNebort
@CassandraNebort 10 күн бұрын
Getting Sarah Hudson to help me really helped me clear all my debits. I started with what I have left and it's been the best decision I ever made
@LudacrisWilliams
@LudacrisWilliams 10 күн бұрын
Multiple streams of income should be applied because from the CNCB quarters recently their newscaster made it known that If you don't find a means of multiplying your income you will wake up one day to realize you didn't plan well
@LunaMia-gw9uo
@LunaMia-gw9uo 10 күн бұрын
I'm new at this, please how can I reach her?
@CryptoOezguer
@CryptoOezguer 28 күн бұрын
Gary thank you to be so honest- you are awesome Bro.
@alko_xo
@alko_xo Ай бұрын
A few words to support your priceless work.
@baseerbaseer8619
@baseerbaseer8619 Ай бұрын
Hello Gary I wonder whether you have heard of zakat an annual 2.5 percent tax on wealth that practising Muslims have to pay and transfer to the poor. Instead of inheritance tax a British version of wealth tax may be beneficial for the economy.
@lazylad8544
@lazylad8544 Ай бұрын
The sikhs do a similar thing
@baseerbaseer8619
@baseerbaseer8619 Ай бұрын
@@lazylad8544 Yes my understanding is for Sikhs the rate is 20%.
@neilsmith154
@neilsmith154 Ай бұрын
They are basically burning the money. Money supply is currently in contraction.
@asbjo
@asbjo Ай бұрын
But is it the rich' money being burned? No.
@TheEmanep
@TheEmanep Ай бұрын
Contraction but from what starting point and what level do they want you to contract too? It’s the same as the ‘deficit’ which politicians live to say ‘has gone down by x percent’ knowing that the overall debt is still ballooning and that people don’t know extremely important difference between the two terms.
@CuriousCrow-mp4cx
@CuriousCrow-mp4cx Ай бұрын
Not really. You assume that the BOE is allowing the securities they bought to mature, right? Nope. They're selling them off at a discount to bond dealers, which just reduces the BOE's balance sheet, and nothing more. And the biggest purchasers of Bonds are? The Asset Wealthy who got the stimulus money in the first place, and not ordinary people. So the asset wealthy are getting a final bung from their buddies at the BoE. That is why asset prices have not collapsed by any significant amount, and inflation is sticky, even as energy prices are deflating due to the global depression. That is why the Yield Curve is still inverted, and why GDP is the most deceptive economic indicator devised by economists. Remember £800 billion was pumped into the UK economy, and the BOE is ripping the UK taxpayers off by selling back the bonds into the money supply at a discount. And that's the false impression people if QT, but their wallets know the truth, as their purchasing power disappears faster than the toothpaste in an open tube stood on by an elephant. It's the Cantillon Effect caused by being sustained by the BOE own actions. Hence the K-shaped recovery, where the incomes of the asset wealthy continue to go to the moon, and the ALICEs - Asset-Limited, Income Constrained, and Employed continue to have their purchasing power eroded.
@CuriousCrow-mp4cx
@CuriousCrow-mp4cx Ай бұрын
Thank god someone really understands what the BoE is really doing - an accounting exercise, - while the QE wealth remains in the hands who got the vast majority of it - asset wealthy individuals and corporations, including the financial sector. All done by the BOE selling off the bonds they purchased at full price back to the bond dealer banks they from bought them at full at a discount. Thereby shafting the UK taxpayer to boot.
@garethhumphries4039
@garethhumphries4039 Ай бұрын
It isn't, we have a deficit which neccesetates growing money in the private sector, it may seem in contraction though to most people because it is being siphoned off to the wealthy.
@annepoitrineau5650
@annepoitrineau5650 26 күн бұрын
Crystal clear, and exactly what I believe too.
@lexmyster2580
@lexmyster2580 Ай бұрын
Keep doing what you're doing Gary. I believe a great deal of the issues you talk about are covered over by the people who don't want change. It is covered over by confusing rhetoric that turns people away and makes them think they can't do anything about it. The more everyone knows about the economy the more we can demand change and demand we will. I want a better future for my kids and I believe the current path we are on will mean they work until they die, never have anything they call their own and have inadequate services to rely on. Is there anything that people like me can do to band together and demand change or do you see this as something that needs to build over time?
@mrscreamer379
@mrscreamer379 Ай бұрын
I had been poor my entire adult life. The moment I learned how to be tax efficient, I became rich. Its that simple. Paying taxes keeps you poor. The more you earn, the more they take. You can't beat that system ... until you legally find ways to avoid tax. Then your life changes.
@SEANPOL203
@SEANPOL203 Ай бұрын
Very true
@EMan-cu5zo
@EMan-cu5zo Ай бұрын
That works but for me I always save a % first, primarily in a Roth IRA then other things that I think will do decent. First thing everyone needs to do is get rid of their debt and put everything you can into getting rid of it. Took me over a decade to get rid of my debt after school and now I am actually not dead broke and it feels good. I am far from well off in today’s terms but I owe no money to anyone. Of course I have to pay insurance and other expenses but I could cancel them anytime and owe them nothing.
@dwane3950
@dwane3950 Ай бұрын
Hello Gary how do I convince the middle class to vote for taxing the rich when A) they think it’s them even after explain that they wouldn’t be part of this and B) they often hit me with well the rich (companies) will leave the country?
@staceyjinuk9714
@staceyjinuk9714 Ай бұрын
You persuade them to watch these videos. Gary explains things in a "counter narrative " way, in other words, he takes the popular talking points and explains how that is wrong. Choose three videos that state your point. I suggest this one. 🌹
@keithparker1346
@keithparker1346 Ай бұрын
That's a good point as we have DelBoy types earning average salaries thinking they're the rich
@dwane3950
@dwane3950 Ай бұрын
@@staceyjinuk9714 I’m afraid it’s not that simple, I’ve read Gary’s book and watched his videos for sometime, but if you try to apply some of Gary’s points to the conversation it’s like talking to a “get brexit done” voter, to arrogant to consider anyones point of view other than their own. It’s a shambles these people vote for who they like, rather than polices and for life of me I can not work out why, they are educated and well paid people, but lack any critical thinking skills/common sense.
@staceyjinuk9714
@staceyjinuk9714 Ай бұрын
@@dwane3950 I understand you perfectly. I personally dislike and distrust anyone who votes for the tories because of my upbringing (I grew up in the 80s when Maggie was in power) I do understand. My only suggestion can be do it slowly. When they make a statement that can be debunked, correct it then say nothing, don't get involved with tit for tat counter arguments. You might never bring them around. What you can do, the only thing you can do, is state your position and hold steadfast to it. Good luck 🌹
@dwane3950
@dwane3950 Ай бұрын
@@staceyjinuk9714 thank you for the advice 🥰
@deputyvanhalen6386
@deputyvanhalen6386 Ай бұрын
This sums it up... Bank of England MULTI MILLIONAIRE Governor in 2021/2022 said "people should not ask for increase in pay. They can do better in other ways, by working more!"
@JamesShack
@JamesShack Ай бұрын
@garyseconomics is this not what quantitative tightening is doing? The BOE's plan is to "burn" £100bn between Oct 2023 and Sept 2024.
@CuriousCrow-mp4cx
@CuriousCrow-mp4cx Ай бұрын
Nope. To reverse the Cantillion Effect caused by QE, one cannot let just the purchasing power of the money pumped into the economy and accumulated overwhelmingly by the asset wealthy be eroded by inflation. But that is exactly what the BOE and the Treasury, and other central banks are doing. In particular, the BOE are only reducing what is held on their balance sheet. In effect, that's an accounting exercise, leaving the £800 million of assets in the pockets of the Asset Wealthy, which they are spending on buying more assets, and crowding out the ALICEs of those markets - the (A)sset-(L)imited, the (I)ncome-(C)onstrained, and the (E)mployed. What's worse, the BoE is not allowing the Bonds they purchased from the Dealer Banks to keep them afloat during Covid to mature. They are selling them back to the dealers at a discount. So the post-Covid K-shaped income recovery is being entrenched, with the incomes of the ALICEs being depleted as their purchasing power is also being eroded, whilst the passive incomes of the Asset wealthy continue to appreciate in quantity and value. The only way to reverse this increasing spread between the two groups is tax the asset wealthy. This will reduce the money supply in real terms, and not just in nominal accounting-exercise terms. And those who got most of the stimulus will bear the cost. Not the ALICEs who got very little. In fact, all QE has proven is that the 1) financial capitalism of today is replicating the mistakes of the past in entrenching rentierism and unproductive investment. 2) people hear what they want to hear, and don't always know what they are being told isn't true, and 3) not disincentivising rentierism is a political choice that will impoverish ordinary people, and destroy real economic growth by reducing the resilence of the economy as a whole, whilst politically and economically disenfranchising the ALICE majority. Too much rentierism creates economic instability and prohibits wealth creation amongst those who need it the most.
@Avatar711Wizard
@Avatar711Wizard Ай бұрын
I feel your frustration brother.
@EMan-cu5zo
@EMan-cu5zo Ай бұрын
He has plenty of money. Now he banking off KZfaq. Maybe he should divide all his assets to the people who watch him. Talk means nothing but action is what matters.
@musiqtee
@musiqtee Ай бұрын
Second others, the model is fairly consistent with MMT - the forced “takeback” of money (tax for government, interest/rent for finance). The other thing, *money is **_not_** capital…!* Ownership IS. In a capitalist society, you are not a “capitalist” if you live off wages - and are unable to _convert_ money towards “something” you own, generating more convertible capital (rent, interest, trade overhead, assets…). If most of us aren’t actual capitalists, why do we have this faith in it…?
@2Question-Everything
@2Question-Everything 26 күн бұрын
Don't you find the enclosures-private ownership of land at least to be the root of all the problems? As a limited resource we should be managing land very differently-don't get me started on how we should eliminate inheritance of land.
@musiqtee
@musiqtee 26 күн бұрын
@@2Question-Everything Sure, I tried to keep it short (I stink at that…). I know how the transition happened from feudalism into “modernity”. Those threatened managed to influence legislation to both protect and - the new thing - trade land ownership. Land wasn’t “capital” before that, rather the produce from it were commodities to some extent (trade, not consumption). Labour was either slaves or serfs, “money” was an instrument for the rich. There were no labour markets, or indebtedness in money terms for “people” - as taxation from “commoners” were their produce itself. The thought of money circulation as a labour & consumption forced incentive came with industrialisation. Mortgages and later consumer debt was the commodification of money, a parallel to the rentier economy of premodern time. Now though, rentism is back - but not for the state coffers, rather it’s _allowed_ by the state as a liberalist policy. This has led to financialization of the economy - making money from money. That’s not even a producing economy, so waged workers are unable to keep up with the nominal economy, and basic needs are totally linked to having money - not capital. Last time this happened, two world wars and a finance depression forced ONE generation of leaders to rethink inequality. The short time from 1945 (1934 US?) to 1980 (1971 US) was indeed the exception in civilised human history. That period of “capitalism” is over, so maybe we should observe what we actually experience - not what we used to believe? 😜👍
@JayDray-yq9ql
@JayDray-yq9ql 26 күн бұрын
Thank you Gary for your efforts to equalise wealth distribution,
@Geckatron
@Geckatron Ай бұрын
Man that was a full on proper one there - cool video. Makes sense to me. 😁👍
@Alex-cw3rz
@Alex-cw3rz Ай бұрын
Thank you for this
@Georgggg
@Georgggg Ай бұрын
Burning money is standard practice in cryptocurrency. Bitcoin for the resque again 😂 Sound money = sound economy.
@bisiriyutajudeen5728
@bisiriyutajudeen5728 Ай бұрын
Bitcoin doesn’t have a burn mechanism built into the protocol. Only shit coins do that. Bitcoins monetary policy is a fixed one(it doesn’t inflate nor deflate) Only 21M will ever exist.
@TI_Ted
@TI_Ted Ай бұрын
do keep on: the most compelling and succinct voice on the matter
@unwisemonkey2945
@unwisemonkey2945 29 күн бұрын
Gary, I’m mostly finished listening to your audiobook. What can I say just incredible piece of work. And you add so much to it hearing it in your voice, and the impressions!! I do have a question though. Part 4 section 7 when you’re talking about losing harry. Does it cut very briefly to Harry’s voice? It doesn’t sound like you doing an impression and it doesn’t sound like you normally. Is that harry? I’ve looked online for answers but can’t find any. As I said amazing work. Best thing I’ve listened to ever, hands down.
@garyseconomics
@garyseconomics 29 күн бұрын
I think that might be an overdub in production to try and correct a mistake or something.
@unwisemonkey2945
@unwisemonkey2945 29 күн бұрын
@@garyseconomics haha fair enough. There’s me thinking it had a deeper meaning. 😅
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