What did we save? Video

http://money.cnn.com/2009/10/19/news/economy/low_rates_savings.fortune/index.htm?postversion=patrick.net

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foe1one: what an informative rebuttal. Enlighten me then, where does the interest paid to savings come from then if not from interest on debt.

scanlonized: The nerve ! To Steal from lil ole ladies... prudent people robbed by careless banksters. Should be a law against it. Even if there were a law I am sure it would not be enforced.

Puzzoozoo: National Savings rates here in Britain are better.

hiphopsocnroc: Only hurting those who are dollars. Buy some silver/gold people. Peace

meikagirl: 1 million in the bank and your making about 10,000 interest a year and we wonder why the stock market is going up.One last bubble to pop,before the one world currency comes into effect.Live it up people. The clock is ticking to Armageddon.

Innhouseproductions: correct

LisaJ4Liberty: Yeah, this is a no brainer. If you're a saver you have gold or silver to go to. You'll be fine there.

whiskerchild: What worries me, is that someone put out the idea that we might go to an electronic money system entirely. What do we do with our god and silver then?

valhala56: @doverline puhlease don't make me laugh. You stated to escape the theft of the Money makers is to speculate with your money. If you have substantial amount of money to invest then you too are a "Money Maker". Your just at the bottom of the heap and are crying because the big boys are makeing money off of you when you yourself would not hesitiate to make money off people lower in the pecking order.

doverlin: @valhala - I'd rather take money from honest work and stuff it under a mattress. Pull that accumulated saved money out from under the mattress 40 years later and retire with a dollar worth the same as it was when it was put there. However, you MUST risk any money you save hoping to beat inflation. The dollar you earn today must be worth $20 in the future just to stay even or you will retire in poverty. Inflation is tax on savers. Those who create money know this.

valhala56: @doverlin, what you are talking about is survival. Your talking greed which is hoarding of money. As long as greed is the means of doing business there will always be somebody out there who will steal from you. As long as other people have far less then you have to jelously guard your little stash of money-just green paper but you worship it.

doverlin: @valhala - is it greed to hoard money in a bank? is it greed to hoard money in equities? in Treasuries? It is exactly the same vahala. I chose not to risk a portion of my life's work. What is wrong with that? You would say take your money and invest it, earn money on your money. Why is your way better than mine? You choose to risk yours for a reward greater than inflation. Yet I am the greedy one? Your method requires that someone else lose. My method requires that someone work and save.

valhala56: @doverlin, I am just calling a spade a spade. If you hoard anything then just admitt to yourself. Say these words "I am a greedy bastard, there are many who are greedier then me. Without my money I am nothing, without me my money just gets spent by somebody else, probaly the Goverment." LMAO.

doverlin: @vahala - you are demonstrating a lack of understanding. You are the fool that is fed upon by the hucksters that know how the game is played. You equate hoarding with saving? Interestingly childish notion you have. I repeat - I would rather save my money under my mattress than hand it over to bank to earn less than inflation interest. Unfortunately I chase returns so that one day I can rest. I hope my capital is still there the day I need it. The Money Masters like your thinking ;)

valhala56: @doverlin, I am being slightly facetious. If you have been paying attention to Nicks little show here on YouTube then you would know it is not as simple as finding a safe place to stash your money. If you buried your dollars in the ground & dig it up in 20 years you will probaly find the money about as valuable as confederate or 3rd Reich money is now. My point is you are chasing phatom returns, the economy is now just starting the Greatest Depression the world has ever seen. Hang onto $

doverlin: I began studying how the world works a couple of years ago. My eyes have been opened. You missed my original point - inflation is caused by money expansion and steals wealth. We are all forced to invest and risk our earnings, putting it at risk. Did you know that in this countries history, there was a period of over a hundred years with no inflation? Of course, we didn't have fractional reserve banking controlled by a private banking cartel then either . . . and that . . . is my point.

valhala56: @doverlin, yeah well your studies are incomplete. Yeah the money game is rigged, totaly rigged. Aside from that we have bigger problems then a rigged Capital system. That is the specters of Peak Oil & Overpopulation which will make inflation puny by comparison. Cheap Oil spiked up the world population x6-6.5 Billion. Era of cheap Oil is over. Resulting is Financial Scams, Unemployment, Political instability, rampant white collar crime, + soon to come more war. then comes the 4 horsemen. Cheers.

doverlin: @vahala - all very old news to me. From chatting to you a bit, I see that you are about where I was a year or so ago. Keep digging grasshopper. With out honest money, we stand little chance of honest government, honest banking, honest foreign policy, honest business, honest leadership or the myriad of other ills we face. While the possibility exists to earn money on money for the sake of money via dishonest methods, we stand little chance of sustainable progress in other endeavors.

doverlin: I'm going to retire from this conversation for now. Best of luck to you (and me).

valhala56: @doverlin, I find if funny and frightening how people like you sole focus is money. You really really think yeah if we had a honest Federal Reserve gee wilickers then all would be back in balance? Friend the money you value so much is just paper & only valuable as long as there are other people as obsessed with it as you. When the dollar is no longer the reserve currency of the world you will be jumping ship along with all the other mice. You really should listen to Pink Floyd's Money.

doverlin: Good. Frightened is good. Be very afraid. You find it funny that I comment about my philosophy on money in the comment section of a video about money? It sounds more like me that you would rather attack the messenger than the message. In case you missed it - here it is again: Fractional Reserve Banking by a private cartel, the FED, should be abolished. Catch up and you will lose your fear. I'll save my comments for other topics for videos on other topics.

apathy74: I always look forward to your videos Nick. Even if it sometimes seems dire news indeed. Thank you for the time you spend uploading these.

personova: The Fed Funds rate is low to benefit the big banks. By extension, this would include trying to prop up real estate prices. Dollar index watchers are looking for break through below 72, with the trend downward. After the events of the past three years, it is obvious to most Financial Analysts, that a well divested portfolio includes divesting savings out of the US Dollar!!!!!!!! The phrase, backed by the full faith and credit of the US, is ridiculous, given the fact we buy our own debt.

pjblabla: how do lower interest rates benefit wall-street and others directly? don't banks have to pass on low interest money to people and they arn't doing that at the moment (based on your other videos)

TheModernMystic: pjb, No, banks do not have to pass on low interest rates.

Author: TheModernMystic; Uploaded: Oct 25, 2009; Duration: 6:4; Views: 828

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