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the surprising things about all these things a lot of the things we all talked about mortgages says derivatives they were all known they were not a secret out there no one put it all together there was no systemic regulator trying to look around the corner and say well if a money market fund has a problem that's going to cause a problem for X it's not a mystery it's not a surprise that we know we have crises every 5 or 10 years and my daughter called me from school one day and said dad what's a financial crisis and without trying to be funny I says the type of thing happens every five to seven years and she said why is everyone so surprised so we weren't super we shouldn't be surprised but we okay so the price of Bitcoin has been crashing down for about two weeks I thought there was a recovery but then more bad news came and combination of largely fake news about China about in Bitcoin exchanges we don't really know what's going on China it's a communist government with the hell knows what to take I made so so this week elves he made big losses but hey they made big gains since the last price correction so I'm in a bad position that that I was the last pressure and hopefully I'll be able to make a video before I go on a holiday about how to profit during a bear market so one of the more damaging event last weekend what made the price go down is dies the JPMorgan executive Jamie Dimon how funny I'm with him Jamie Dimon the demon came out and said that bitcoin is a fraud and compared it to the tulip bubble I wasn't the famous market bubbles in history and so whatever somebody compares bitcoins to the two I say to know us that's a fair comparison it's if you want to make money trading Bitcoin you need to understand bubbles and yes the price there are gonna be times when the price of Bitcoin is inflated and it's going to crash and there was going to be a market correction anyway that's healthy but it's now a crash because of this JP Morgan CEO and he's quite an influential character he is often referred to as when those influential men in the world so if he comes out on slates Bitcoin boom the the price is gonna go down and this is what we're going to have to put up with until market adoption and if I was this guy and anybody arrived I would have bought Bitcoin waited for coop sold my Bitcoin didn't make the statement and we know that this is what people have been doing all over the some people buy Bitcoin when it goes up they saladin and they need to do something to cause a crash it's not a conspiracy it's well known so Mad Max Keiser from Russia today responds the US dollar bond markets many property markets are bubbles Bitcoin and gold are the only financial assets not in bubbles to say Bitcoin is fraudulent were like saying gold is fraudulent soon when I'd say this but no rational person would agree but one of my favorites to accommodate is John McAfee afraid Jamie Dimon as a crybaby who's afraid his banks will become obsolete so it's fairly reasonable to take Jamie Dimon's business advice because he's a successful businessman that's why I'm gonna define successful as has made money so exactly who is this guy and is he a fraud and should you trust him like it as I said he's the CEO of JPMorgan Chase one of the top four largest banks in America he is a billionaire and hearings tens millions every year sounds like the kind of person that you would want to take financial advice from Natalie but who exactly are JPMorgan Chase I mean do any of you guys deal with JPMorgan Chase most people don't and why don't you because they're a mega bank they don't deal ordinary people there they're a mega bank for mega rich people that doesn't make them bad let's look at their history JP Morgan had to pay a thirteen billion mortgage debt settlement it was a lariat larga it's the largest one of its kind in history because of its involvement in the financial crisis of 2007 do you remember what everyone's getting read depressed about the system and there's a huge price is my job for a loss well what this guy did and it's not a conspiracy theory it's what he is being chart what they have been charged for is that they were giving people bad financial advice and then made huge profits over people who couldn't afford houses there was a government program to get poor people to buy mortgages and all those people were screwed and there's a huge bailout and according to court case JP Morgan where they knew what they were doing and they made billions all fault of of intentionally giving people bad financial advice so these people are intentionally giving people bad financial woes and we know it and they've been charged for it and yet they're still making tens of millions or he is himself making tens wins every year is not just that it's not just a one-off case they were also involved in the ED in the Enron frauds you know and barium for he motto so said the JPMorgan executive knew was fraud they're trying to use to stop pretty my the father he was involved in and they chose not to oh yes Jim the demon is a successful businessman in terms of money but he doesn't earn his money ethically like a picnic one trader does so I would need to do the research and which system do you have more faith in the central banking system or the pickling revolution well congratulations to Donald Trump for historic for reducing the American debt by the biggest amount ever in history by tuned to opinion that sounds like a great achievement but now the status surpass the historic level of twenty trillion right twenty trillion - two hundred billion it's still like it's still more than 19 trillion dollars so this is not working and bitcoin is the future I if I've got the cash I'll be looking into buying in Bitcoin again of course I will be over the weekend because this is temporary and as I said I will try to make it at some point and had to profit from a bear market previously I had made a video about a price fraction versus a crash should watch that but for my differential I'm referring to this downturn in the price as a crunch and want to get my updates as soon as possible find my Twitter account Facebook account and Facebook page and I I post more information on Steam it's calm for its like that response if I do YouTube and Funyuns information useful please donate click coin live free because we don't really have another great item you put your savings in the bank we like to think that the bank uses is money to give loans to businesses but this means that the money never grows because it only changes hands and yet the fact is that in the Netherlands alone this amount increases by 30 billion euros each year how is the money created the banks created example your are entrepreneur with a good plan but with no money you want the bank to give you a hundred thousand year alone what is the bank do it doesn't wait for a customer to arrive at the back door and hand over a bag of money to put in a savings account instead the bank creates money by recording a new credit worth a hundred thousand euros in your name money that wasn't there before it also records a hundred thousand euro debt by simply entering a couple of numbers into the computer that's all it takes to create new money but is it real money it's only a couple of figures typed into a bank computer isn't it yes it's money all right most money we have is nothing more than a couple of figures existing only in Bank computers we carry some inside our purses but most money is electronic you can use loan money to pay the bill or spend it at a supermarket it's used for buying and selling things it circulates in the economy this money is very real that's how banks create money by giving out loans in a sense money is the same as debt if we were to pay off all debts there'd be very little money left since 2000 the banks have created more money than ever before most of it in the form of mortgage debts this is what links the creation of money to the debt crisis when it comes to mortgage debts for Netherlands a worldwide number one it's one of the reasons why so much new money was created in 1982 approximately 100 billion euros circulated today it's 800 billion
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