Peter Joseph Radio Lecture
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Thank you! I appreciate it.
Good to have a little sip of this water. I assume it's still save to drink in new york, huh?
york and
actually actually i gotta be there in a moment and we have a little bit and just
like to hear the internet question anti-clinton home and we're not sure how
the warrant haven't gotten a popular and again
number one
important make him a hundred city not wanting to be able to any guests enjoy
about buying gold award
doing any good
but nobody throughout the local water supply nobody
moon listen to the movie is beginning to come and
and meaning slowly breaking down dominantly and
nominated to be and one hundred and at the end i didn't have enough time to do
it in the evening
when they told me that endanger all systems are breaking down like what what
a good thing
thing that i can make them small contribution in this area myself
equipment of the major in this country the whole social structure dinner
beginning at noon just beginning now become a part of you
you watched
good afternoon everybody welcome to the october thirteenth
radio address lecture three 'a profile of collapse' my name is peter arnett
talk that she is the next hour
on the subject of uh... social
an economic collapse
prophetic words movie great george carlin
education was
phenomenal on the way he chose to sneak in
very very profoundly uh... important observations about
society in human behavior
it's something that i don't think any of the comedian and social observer has
come forward with since
carlin
uh... maybe bill hicks is the closest to come into play
and then you have a richard pryor and uh...
lenny bruce
but uh... kurland in his own field
i would love that retain my first saw it it did really struck me as profoundly as
it strikes me today
think about the very simple notion of what it decided to use it supposed to be
there
system that there to support everyone
water being summoned one of the most important attributes of our existence
the fact that we've let it
the degraded and then imagine
talent somebody's sixty seventy years ago that they would be
pain for drinking water in the future
and the cost of that water would be more than the cost of petroleum
i think that look if you like you're crazy
of course needless to say hello water scarcity water pollution leads for jobs
for filtration leads to industries
to produce water
the more scarcity pollution there is the better it is for the economy a
wouldn't surprise me in the future if air pollution become so
abundant
that's people will have to buy special oxygen machine to put into their homes
this is probably
right around the corner as far as i'm concerned
off the body's machines you know there's a whole lot of gas mask that people can
wear out outside of special guest maps with hakim on on the meal
just a typical modern life
you know what shit let's just pollute everything for the sake of economic
survival
let's give everyone can turn let's make sure that it may be viewed out there as
possible more vaccines would be generated more medical establishes more
products to go along with
the treatment of diseases and finally you have this
subculture of people in wheelchairs at the parking lot therapy machines at
their pokey month
gas mask on weeding through wal-mart so they can buy the new plaza television
and playstation so they can watch argue hot
on fox the next night
the point of this
there is no value orientation to making money
and they're never ever will be
the more problems there are
the more
profit can be generated
so you can do the math intuitively about
the general disposition for the welfare of society
when it's known deep down that the more conflict
problems
pollution
and scarcity there is
the more money there is to be made
and the more jobs there are to be created
it's point will be brought up in the other discussion even more specifically
as we continue forward
but i wanna present on the organization of um... tempest lecture
i have the freshly broken this
subject up into four dominant
points
the first point is the monetary expansion policy but is global
which is essentially a pyramid scheme
the second point is the basic market psychology in the mechanics of the
market system itself from the internet growth paradigm
the third point
is d
advent of technology and this phenomenon we have come to know as technological
unemployment
and the fort point
is essentially a combination of monetary expansion policy and market psychology
which is manifested
what we know as wall street
of the wall street derivatives market implosion
uh... what leverage
d bubble
attributes of
the system
the booms and busts
the nature of them and how they've unfolded in practice in theory
those four points added together i'm gonna proceed talk about government
collapse
corporate collapse and ecological
collapse of the final collapse ecological collapse of course being the
true
nail in the coffin everything else is basically
uh... fiction that's elaborate
stuff that we just invented to navigate society have no real relationship than
anything
governments aren't real wall street isn't real the monetary system is israel
the market psychology of invention
so what we have really at the core of this problem is the ecological collapse
p finite resources the pollution
and than any other attributes associated
okay of the first thing we should probably do is to define social collapse
what is
collapse
collapse cannot be just a singular event
uh... bother to be pockets of quote collapse uncertainty
sectors or uh...
by division two society if you will
it's really a process
social collapses when system that
self unfold in a manner
to break down the well being of society and its
constituents
or to put it another way when all the indicators of
in some form of negative declined meaning that no longer in a positive
nature or steady-state nature
they're actually moving in a negative pattern
which will have negative repercussions for the species
so the next thing to consider would naturally be the measures of societal or
social help the menus
the term societal health as an all-encompassing in uh... definition
here
there be three attributes of societal health
that you could measure there would be your personal integrity which means
your ability to get nutrition clean water
your basic
uh... your immune systems ability to fight cancer and all the environmental
conditions that enabled that
your mental health
the ability to uh... not
have uh... personality disorders attention deficit
and many things that are in fact triggered by the environment
stress relationships high stress dispositions of course can have a very
negative consequences to your health both mentally and could be a logically
this would be deep personal integrity
and obviously you can't have personal integrity without having
social integrity so they're connected
i defined social integrity as depicted in our business
uh... having uh... a lack of conflicts establishing trust
they're being little poverty in the system
they're being less of a income gap in stratification which was has been proven
to be very negative
the social health
wars obviously are a big problem the more were there are the more negative it
is student
for the social integrity
and then underneath all of these notions is the ecological integrity which or the
resources
that govern everything that we have the energy sources the ability
to produce food arable land
and then on the other side of pollution all the negative virtue actions that
we've created
and uh... the ecological integrity is not naturally a very very important part
of the social integrity
and the social integrity is a very very important part of the personal integrity
and its brings us back to this measure that i'm
to finance simply societal
so i hope everyone followed up
now
with regard to personal integrity
the that haven't seen the lecture social path ology where where i want to richard
will concerns work
about uh... income inequality which is growing across the world
and the stress relationship
psychosocial ramifications
consequences of
that inequality i suggest you go back and review that
but generally speaking i'm not gonna make a huge treatment on this but the in
personal integrity which i just to find it a cancer rates
and mental health
uh... you'll find that first of all the comes the mental health psychiatric
disorders across the border are rising
antidepressant usage has increased substantially over the course the past
few decades now
because argue that there's height through drug companies to get people to
take them and that's fair enough
but overall if you look at all psychiatric disorders they tend to be
increasing especially in the western
more stressful highly stratified areas
uh... mood disorders depression anxiety disorders wiccan obsessive-compulsive
disorder personality disorders like antisocial
and of course suicide so i mean to aside from virtually doubled within the past
sixty years
i believe according to the w_h_o_ it was
uh... ten deaths
suicide deaths per one hundred thousand the nineteen fifties
and by the mid-nineteen nineties with eighteen per one hundred thousand
and you can imagine what it is today given the stress relationship such a
phenomenon
all of these things are related to stress
stress
is the defining attributes
and where distressed typically come from
the coach from social pressures comes from job stress is number the girl they
committed suicide because she had
her job application rejected
two hundred times from various uh... businesses
and she wrote a suicide note or a family strange that her value with less
because she couldn't get a job this
stuff is very very relevant
or not to go into the treatment on that the personality
excuse me deep personal integrity of the individual
is definitely a risk n
the other extreme is cancer of course the physiological integrity of the
individual
obviously characters in the only indicator of physiological help but it's
a great general uh... uh...
point to bring up because such an epidemic now
and for obvious reasons are related to the environment
the w_h_o_ predicts that twenty one million
annual cancer cases will be diagnosed by twenty
that's more than thirty million deaths you catch around the world by twenty
thirty
in that two thousand eight there's only seven points
six million
source team is essentially a doubling of cancer death
and the cases diagnosed with in twenty years
this is insane
so the point here and i'm not gonna go under extended treatment is that the
personal integrity of the individual
is uh... in very poor shape
very poor shape in this brings us to be
social integrity
which of course is what creates our personal integrity
the lowest common denominator of social integrity indy global markets system
that we all share
and of course employment
house employment to do it across the world
first of all it's very difficult to measure that's accurately given the
statistics that are provided by the united nations in the country's
without going to the core of the statistical evaluations to figure out
what they're actually measuring
specific unemployment doesn't get the full picture
you have underemployment
you have people that are no longer on the books
in their countries for employment
uh... these measures compiled together paid a very very different picture than
what you see
but i'm gonna give you the standard numbers
but i want you to understand that beef
standard numbers aren't going to be much much worse
the international labor organization the high elbow
and uh... october first of this year puts
global unemployment at about two hundred and thirty million
now you can make which is one of those numbers far as the validity of its but
that's one of the conversation
if the trend that's really going to give everything away
in two thousand seven there was a hundred and seventy eight million
unemployed
and now
and two thousand nine two thousand and there's two hundred and
thirteen million
so it's a fairly substantial percentage increase that's happened of course that
relate to the global
financial crisis but there's something much more profound going on here which i
will talk about when i get to uh... the issues of technological unemployment
at a later point let it just simply be understood but over the course of the
past ten years over all of the trend percentage
unemployment has increased
and what really and give this away is in fact the global
poverty numbers
have also increased which i'll go over next
according to the world bank one point
four billion people live on less than one dollar and twenty five cents
a day that is the accepted
extreme poverty line a dollar twenty five cents a day
now generally speaking people say oh well poverty line one point four billion
i guess that's not that bad right
well let's go to two dollars a day people live and let them two dollars a
day that would be
two point five billion people living on less
and two dollars a day
now jumping ahead here
five-point
five billion people or eighty percent of the world's population lives unless
spent ten dollars a day
i would like everybody listening to put themselves and those shoes for a moment
and we're not talking about ten dollars for food or
ten dollars for utilities are ten dollars for housing or talking to
now if you look at the trends associated with these
what you can define it that at the very lowest level of extreme poverty things
of actually gotten better but all they've done is increased
higher level forms of poverty which is the way i will define it
anyone living on less than two dollars a day two dollars and fifty cents a day
three dollars a day
for that matter where you are
while you're in extreme poverty
i would like any american to fly to somalia one of the poorest countries on
the planet
the intent to spend left in three dollars a day
on your rent
and i'd like to see how far you actually get
the so-called
progress
in the war against poverty
has been the complete allusion it has raised the standard of living but all
lead to a level
pedestal
equally as absurd
as the extra green rates they were prior
in fact i apologize to the tension i want to bring this the level of the
united states for a second
in the united
state the fame fraudulent to pistol model
uh... of the poverty line that's assumed is in full force is well you have hedge
fund managers bringing home two hundred three hundred million dollars a year
while being poverty line in the united states for a three-person family
husband-wife tan son or daughter
you've got swatted forty-eight contiguous states
eighteen thousand
three hundred and ten dollars
i would like anyone out there united states to try and live on less than
twenty thousand dollars a year
three people in your family let's
i'd like to see that obviously it's being done
but just imagine the state
of uh... deprivation that that generates
in fact there is a very quick calculation to see how this would play
out
uh... the average rent according to two thousand three census was about
six hundred and eighty four dollars per month sorry for the outdated detente
retired now
buckets six hundred eighty four dollars per month
for the average rent or mortgage
eight thousand two hundred eight dollars a year
now let's take into account energy costs
fifteen percent per kilowatt hour with an average usage in two thousand eight
at nine a m twenty killed what hours
bring to to sixteen hundred and fifty six dollars a year
so that brings their total spending power after rent
and electricity to eight thousand
four hundred and forty six dollars
and divide that rate by each person in the household is just three c f two
thousand eight hundred and fifteen dollars
which equates to seven dollars and seventy one cents
that day
health insurance
health and strength of course the star out the window in equation like this no
one making the twenty thousand hours a year unless they have a good job
is going to be having health insurance out-of-pocket that's for sure
about seven dollars and seventy one percent today
i guess if your eighteen mcdonald happy meals every meal of the day you might be
okay
uh... and of course that doesn't even take into account all the general
problems associated with living
any type of help
problem the type of transport problem
how to stop there
well and i'm sorry fourteen percent of the american population alexander under
the so-called
poverty line
which uh... it's completely absurd
okay so i thought over the labor issue and the poverty issue with regard to the
social integrity category we denoted
societal
uh... there are other issues to talk about what you're not going to go into
such as the income gap in all the side effects of that as i mentioned prior
the fact that all the military establishment on this planet are
currently arming themselves to be heat
if you think it's a good measure of societal help to have everyone telling
our image to each other
creating new machinery with the military now trying to use robotics to automated
removed humans from
the actual fighting
if you want to keep social distortion to swing to the united states conducts a
war without
people actually
and that one final note is that
social instability across this planet has continued to increase
whether it's general crime
whether it's the western prison population which of course have many
different variables to it
but uh... it which is largely structural violence but that's for another
conversation
but overall view of general social instability chris patten occurring
across this planet
and uh... i'm gonna come back from the reasons why i'm disgusted all of this
before i go to the next section
for the final point of this action or bright societal health
let's talk about uh... the ecological integrity or lack thereof
of the current environment and
the trends it's it's foreshadow
now i'm not going to go into any specifics but that's because i'm gonna
bring it up in the next section but let it be known that the ecological
integrity of just about
everything on this planet
is in a state of crisis
from water resources going scarce
the loss of arable land with no initiative made it to
move beyond the use of arable land in other words there are other solutions
that can be oriented
to resource depletion in general
to the decline of
fish in the elections
to the black of interest to move into renewable energies in the systems
approach to get rid of
orland park il fuel which is not only damaging
but will eventually run out
species extinctions thousands
grand amounts of pollution coming from all side the waste production
uh... but wasted unique humiliation from the production props
fees and the disposal prosecutor absolutely incredible
perhaps use all the russia today
news report on
moscow
hand how moscow is gaining gulfstream garbage
as they take the garbage images make we held out of it
so ecological integrity is uh... at risk in a very very grand way
again i'm gonna go through all of this more so in a second because the
ecological collapse attitude is very very critical to understand
but i want to point out
the reasoning for this
setup uh... the issues of societal health i just gone through the personal
integrity issues of cancer health mental illness
stress relationships the social integrity issues jobs conflict
poverty income gaps propensity is for war
an ecological integrity issues resources management pollution energy
every one of these attributes
has a negative trend
for the future
none of it is going to get any better the poverty is not going to get any
better the energy issue is not going to get any better we are on a downward
slippery slope
which will be
capitulated
by the mechanisms aren't about to describe
left unabated
will comprise the end of the collapse sequence if you will of uh... the
socioeconomic system that we understand
i will say as an opener
the monetary system in the market mentality
will be what destroys and kills everything on this planet
it is in some grouper human being
it is a value system
cancer that has been set in motion that people believe in corral
everything that might interfere with it
and this
prophecies that i'm about to describe the actually therein
is the problem
of the world of society
and nothing is going to change any of these attributes in the long run
and tell the entire system is overhauled
okay coming back to my for points
first point was monetary expansion policy the second point was market
psychology the infinite growth paradigm
the third point i stated before with technological unemployment and the issue
of labor i'm gonna switch that around now without the wall street derivative
phenomenon
because that relates
uh... or contractually the prior two points
monetary expansion policy
this comes down to the very fundamental process of how money is created
the social system
skews me in the monetary system
and this system is used throughout the entire planet virtually without
exception
money is for straight out of debt
that debt
is very real just like the deputy let's have on credit cards or anything else
money
is monetize
this condescension the two forms of is probably more
the first stage which deals with the central banks of the world they monetize
treasury securities or bonds
they can modern times are different forms abundant from other countries
but the second level
is uh... credit we know it's credit in the edge emal
notion of loans from private banks
if you want to get a loan out for your home
you armada typing
debt that they give you
so the contract is essentially monetize tissue with the contract your contract
you signed
to repay
invents
the money that they give you
for your loan
to buy your home or your car or anything else
self-employed one
money is created added
and then
they charge
interest on this debt
some point two
the interest does not exist in the money supply
in other words if i have
thousand dollars my loan it to you at ten percent interest that means you have
to pay back to me one thousand one hundred dollars
let's assume for a moment that
the two of us are the only people in the economy
i know it's a very abstract example
but how are you gonna pay back
a hundred skinny one thousand one hundred dollars when there's only one
thousand dollars in the entire pool of money
this is what the interest of the moment on creates
so every time money and loaned out from debt
at interest it creates more debt
that doesn't even exist in that the total money supply of any country
or even politically in the world when you put the map together
some point three
everytime money is deposited into any account
across the world
i think all beef
fractional reserve
system of money accounting pics n
what this means is that the bank can make money on top of the money that you
deposited
roughly
india question ratio of nine to one
so you deposit thousand-dollar they can make nine hundred dollars on top of that
taken now alone out
nineteen hundred dollars
to anyone that wants to take that long
that's what they call it fractional reserve
thank you
a myth about this is that they actually a lot of money that they get no they
don't love that money that they get
they based their loans
upon
the money that they get through deposit
some point four is an extension at some point three as far as the fractional
reserve system
and what
simply isn't observations of that
every single time anyone deposits money in any bank
whether central or private
the bank is able to repeat that process
and what this equates to an i don't want to go through the whole equation is that
for every deposit that occurs in the banking system
approximately nine times that amount can be created
fear they're on top of it
subtitle posit one million into a bank account for the series of this
uh... deposit in loans cycle ninety
million dollars can be created
now for those that are paying attention what i've just described is a pyramid
scheme
to ever heard of such
a pyramid scheme is where money
it's put into the system
to feed
the necessity to pay out money at the top
but the money can be paid out of the top and left the conflict comes in from the
bottom and this is exactly what the system is
because of the use of interest
there is always more outstanding debt in the system than actually exist and the
monetary creation phenomenon of the fractional reserve system only compound
this
and makes it worse
all you have to do is take a look
amount of money that the united
states for example has created over the course the past hundred years
and all you see is a nearly parabolic amount of money
shooting into infinity in fact the federal reserve stop reporting and three
because they didn't want people even know how much money they were creating
because of the psychological association to in
relation
is a very important point
will call this some point five ends
which would be
inflation
which if you go through history
everything has been inflated through
uh... the monetary system i mean how to was bred
say twenty thirty years ago compared to what it is today
very easy to measure
and then
some point
have increased almost in lock step
with the increase of the money supply in america and why
the submit perfect sense because
money is created
out of debt
you cannot have a system where money is created out of debt
and expect anyone could ever be free of the ramifications of debt and the only
thing that can possibly happen in a system like this
it's complete
and other failure and collapse nothing can grow forever even the money supply
because the end result is always the same
two results
deck collapsed
and inflation or hyperinflation
inflation has been stifled right now in our system for many reasons i won't go
into
debt collapses what is currently happening across the world impart
because of this monetary expansion system
something that no one is willing to pay for you don't hear any newscast just
talk about
i wonder if even the president of the united states even knows what the
fractional reserve system is
now people often say we'll have a fist possible how could that possibly be a
system like this
well the attempts have been too regulated through many different proc
teases monetary expansion contraction
uh... which while never stopping the expansion overall does tempo ral things
to make the aleutian work
central banks are there at the lender of last resort to try and tutor
failure or to step in anytime failure or liquidity problems emerged
within the bank insistent that job
and because of this policy even the federal reserve in the central banks
themselves can fail as well
so they have the world bank so they can to create another lender of last resort
the world today
uh... it's all a big cosmic game in a big delusion none of these organizations
have any actual wealth at any time there's nothing to do find wealth
but just simply print money and they operate with the same basic printable
and um... they work in this hierarchy they give you lose in that there's some
type of empirical power
and that this money in wealth actually exist somewhere when it doesn't this
just bookkeeping entries
why has the collapse materialized where it is now another quick question
fundamental market phiri
denotes booms and busts all of the room is
all it is
nothing do with production had nothing to do it fails
all of the room is in the boom and bust cycle the insertion of more money
that's being utl
all the bust is is we contraction of money which usually happens
from there being an overload of money within the system which creates deck
collapsed or
when inflation becomes a foreshadowed problem so they have to pull back a
monetary expansion increased interest rates
so they can curtail the possibility of inflation
uh... in the short term of course because if you look at the store record
again inflation is still confident which makes sense
however it's not economically comparable for there to be the sessions
the political
officials don't want it they wanna see progress to make their institution the
quake they're actually doing something positive
so the market system has not been able skis me not been allowed to play out and
it's real boom and bust phenomenon
so what they've done is they've done that money injections every time there's
a recession
virtually every time
and these money injections
or a truncated pots which does not actually correct
the inflationary properties expansion properties of the uh... additional money
creation that created the boat
so what you have agreed to envision the pyramid
this boom and bust cycle it's riding in out the pyramid that's been riding up
for a long time of the key trunk eighteen
if you will the box which were never allowed to fully correct
and what we are to the top
this pyramid where it says okay
this can't work anymore
how much more debt can we go into fourteen fifteen sixteen trillion
dollars american debt how about forty trillion dollars worth of american debt
there becomes a point of saturation where the debt creation meaning the
monetary creation
cannot handle the inflationary ramifications
not to mention that the debt responsibilities that are spread
throughout the society
systemic
collapse of the entire
monetary expansion sequence hats to occur
it has to do with the mathematical inevitability
and that's where we are now
please understand something there is no balanced element here
there is no way to make it
fractional reserve lenin polity in monetary for
it's literally impossible based on the way the system is constructed
even with v most optimized
form of regulation in care given to the booms and busts
meaning not truncate in the past
you would still have inflation then you would still have debt
and invariably and inevitably he would still have collapses from them
and one of the reasons of that and that ability again is because of the interest
charged for each one of those loans
which does not
exist outright in the money supply
failure
is inevitable
it's a pyramid scheme
so what you have now is the entire world based on monetary expansion practices
that simultaneously create debt
more debt than they actually create money in fact
the world you see around you with the result you have every
single country
facing extreme deck collapsed because of the road financial policies
everyone's borrowing money from each other through bond sales
making more money out of nothing loni netted interest the public in other
countries
all it can possibly do all i can possibly do
it lead to more failure
and more collapsed
the very idea that you're going to try and solve it debt and monetary problems
by making more money out of debt
begin
to solve anything is ah... the most hilarious thing i've ever heard of its
like throwing
oreo on it
fired thinking it's water
just to make it worse
that understood
now let's bring it down to the actual market psychology
the actual dynamics of what we call of market itself that's buying and selling
the use of labor
and uh... understand how this process in this mentality if you will
is for the rain encompass
pounding the collapse as we
theater and will continue to do so
the entire market system as i've discussed before is based on cyclical
consumption it's based on the assumption that
instrument amounts of consumer
and money circulation will continue
the money moves from the consumer
to be producer
which divided up to the laborers
which make the goods
which delivers get wealth from and then become the consumer all that the reducer
cycle going on and on and on of consumption
the first thing to consider with this is that the monetary expansion politics
just described
creates a game of musical chairs where debt collapse in bankruptcy is
inevitable
andy businesses know this
so they're exasperated a little bit more because they have often more debt
requirements than the system really should
require
but they're always a little bit against the wall
keep that in mind if the pressure of the system
to be more cutthroat than they typically would be if
the fractional reserve letting policy of interest attributes were not in
existence
so that is that particular point the pressure to keep in mind
the second point builds up on that with the fact that leaves
and exploitation and pollution are built right in
to be modus operandi i've of seeking profit and maintaining a competitive
edge
maintain the competitive edge
and creating marketshare transcends all environmental concerns
transcends all social concerns
adlai alluded to prior
to have air pollution is actually profitable for certain industries that
they could make products to service
that air pollution
to have water pollution equally as well you've whole industries now devoted to
making the bottled water for people to buy at rated more expensive than oil
so the more problems there are
the more money that can be made
and whether any particular
businessmen will ever admit this it is a relevant because it built into their
psychology
exploitation
pollution and the ability to profit office anything and everything
if the overriding market psychology
which will lead to systemic collapsed oriented problems
in one direction or another
we live on the planet of finite resources
resource preservation hence the term economical
hence the definition of economics should be employed
resource presentation should be the driving
factor of all industry isn't
it's exploitation waste
pollution and capitalizing on anything if possible
to capitalizing on problems which you should result
at the post to making money off of
servicing
in other words it is more profitable to service
things than to actually
fixes including the environment
so to summarize how this relates collapsed you have
on one hand i think ology that basically doesn't give a shit
and on the other side you have the need to properly created consuming waste
resources
planned obsolescence no efficiency built into anything no need for longevity
because you want to come from the service
you want to look awfully by pairings
deberry strategy a marketing today is based upon planned obsolescence
deliberately
it's right there
for everyone to see
and this will lead to both economic collapse
and in many ways civil unrest up to exploitation practices that you see with
the slave labor camps and everything else
in the third world
uh...
we'll leave it at that as far as the issue of market mentality
and move on an extended its point in fact too
the third point which is wall street
one of my favorite subjects
uh... if you haven't seen the new wall street
that was made by oliver stone i do recommend that has a lot of great
underlying themes including abundant versus scarcity
uh... renewable energy versus fossil fuel the fact that you can profit off of
scarcity as opposed to abundance
after showed within the film as an example that that it's not make any
speculations
but to noted that there was a uh...
financial institution
that profited off of the collapse of the credit default swap trinitas market
which led in two thousand feet to the collapse of the
which triggered excuse me in two thousand across the entire financial
system
and out groups were shorting that knowing that was going to happen and i
uh... you can rest assured this actually did happen in reality
individuals that
are privy to these understandings behind the curtain
know exactly what's coming with a longer period of time before shipment
and this brings me to my first point regarding wall street
and that is the fact
that you make money on the way up and you make money on the way down
people can profit off of the collapse of thermal economies in this
people profit off of the classes anything
people make money off of the rise of precious resources
that the more they speculate upon it such as a lil
the more able insure the rest of the world
such as in two thousand eight the big oil
verse that happen
which with shutting down schools and certain regions in america because they
couldn't have
ford to pay the gas pills but it was the school bus
or things to keep the establishment
uh... yet people make money off of the bills
see that they don't see the ramifications of that
wall street
i'm very unique invention it's an extension of the market system into
buying and selling
accepted cambodian
specifically because it's not actually buy and sell anything real
at least in the form of derivatives
and i will debate people whether true investment even exists at all in the
train mechanism for that really doesn't
when things go i_p_o_ find him i've been invested but wants them
who shares our out there to sastry hand
it doesn't do anything to the company really
except records
false barometer of value-added straight up
with the speculative aspects but they can
expect comment
still isn't real
it still isn't real whatsoever
so the first point i want to make about wall street and
is the fact that it is with out any type of social concern whatsoever you make
money on the way up
they make money on the way down
it's that simple and the failure of society as we know it
will be accompanied by a select few who make an outrageous fortune during that
time
just like they did in the nineteen twenty-nine crash
just like they did
in the market crash of two thousand
when the uh... bubble burst the dot com
just like they did even on the decline of oil of those who were able to turn
the tables
fast enough knew what they were doing knowing how exasperated the speculative
driven bubble was to begin with
so the decline is anything is profitable the standpoint of wall street
and that inanimate
self is a completely psychological value cancer
that is completely unacceptable
to any type of society that wants to have progress and balance
and sustainability and and long-term survival
the second point to make about wall street is a very dynamics
of became its
than the games it had been spent
the first point to break up with regard to collapse of course is the tour
evidence market which i think everyone here must be familiar with by now
there are about a quad really in dollars about standing derivatives
in existence
which uh... i believe the
the g_d_p_ of all the current countries on the planet is only about
sixty trillion dollars
so aquat trillion dollars of versus sixty
trillion dollars
something wrong with that equation isn't there
for those that aren't familiar derivatives are just financial
instruments but have no actual value but derived their value evidently from
something else
didn't look at our just
the gambling that sided nothing more than inventions that people trade
and the reason that that market became so inflated with
because of the in
heavy use of margin
the incredibly heavy use of margin
urinating
these investments over and over and over again in certain instances you could
have
fifty two hundred two hundred to one margin in instant that means for every
dollar you put up
fantasy bag puts up
two hundred dollars on top of that one dollar
that's just insane and if you can see how such outrageous amount of value
could be created up to acquire trillion dollars
the irresponsibility of this is so profoundly incredible
because that money i have to be real that money have to exist at some point
to pay back
everyone that requires one to be paid back including the banks that loaned out
the money to begin with
so of course if there's a pr
problem and there's a substantial law to anywhere in this chain of causality
subtly everything gets triggered and you have this outrageous amount of money
owed
to all these other people that can not to be paid back
and had the domino
at begins
i'm sure by now everybody's familiar with the housing market collapse
spotlighting to go into the pool chain of causality but there's something
called a credit default swap which was sort of an insurance policy
which is a derivative and very largely traded tourism used in a few different
mediums
was one of those chains of causality that lead
to the need for massive bailouts of the economic system and institutions like
bear stearns
now i want to be labor this but the point is very simple to derivatives
market
bubble
as it exists
has you haven't even come close
to collapsing in the way that it likely will
fairly soon
housing market is not done collapsing with all of its
mortgage-backed securities and collateral debt obligations and crept up
all slots angeline as well
there is eight outstanding time bomb
waiting
to burst within v global derivatives market
all it takes is the right combination of the faults
and failures in need
responsibilities for payment
and when you were a member of that
the group's behind these
trade are not just individuals that massive institutions that stretched
uh... tentacles into almost every major industry
the t_v_ industry the crisis
that has emerged from the entire wall street phenomenon
a book intrinsically internet itself and the use of these
gambling
derivatives
that uh... it should have been outlawing two years ago
but even if they were outlawed
it only would loosen the um...
the pressure of the problems
that's generated by wall street and of itself
the final thing i want to talk about with regard to wall street india
phenomenon of bubbles in the investment community
uh... from the tulip mania many centuries ago in holland
where people were trading tulips up too outrageous prices based on now intrinsic
value whatsoever you can't heated to look that will eventually decayed
yet they go for the product they were going to the price of homes
you have these bubbles i continually occur in society
uh... something i had you have the dot-com bubble investment speculation
everything constantly going up which we know
can never continue
then we had the housing bubble of course we see where that that today
and the next bubble it's hard to find a believe it's partially the derivatives
bubble
but uh... it's a little loose right now because of the pressure on the system
overall
perhaps are not up to speed up where the bubble is at the moment but well quite a
bit out of that the correlation of monetary expansion policy to bubbles
when money is created
enough surplus subservient federal reserve tonight eleven lowered interest
rates to one percent
and family alta bates jump in and take tons and tons of loans and in taiwan
leverage do their investment attributes
uh... this might have to go into isolated factors and and it just happens
to gravitate in certain sectors to create a bubbles
it is one of those characteristics of the system that is only problematic
and xm
again a reminder of the fact that we need to be in a steady state economy and
get away from all this bullshit
where these absolutely bizarre ads inflows in the crate aspirations
illusions in in a very religious collapsed
and the injure everyone except the select few
that are on the inside
the point zero zero one percent dot can
make the money and all times after these collapses
not the public
the public always loses the public will continue with
the wall street
wall street is not designed for the public to gain anything except
the very subtle mutual funds
which as you begin to see very soon as more liquidity gets put in the system
and inflation increases the market will begin to kept
the only reason the market in the united states has been pain maintain the
average is that it does is because of the perpetual liquidity being injected
into a system which actually goes
into the market system
and back to my point creating bubbles
that's what it does
so bubbles are surely destructive as my point
uh... much on for a little bit on this but wall street is a time bomb it's an
atrocious idea its extension of market psychology extension of we call them
free-market
the free market is wall street if anyone tells you otherwise they're not paying
attention to the special mechanisms of what the free market represents
and i want to add up to the side that the only way you can save the free
market
is by periodic interventions of socialism
the free market invariably goes beyond the point of never turned and it will
continue to do so over and over again whether it's dealing with wall street
whether it's dealing with companies that uh... just beginning more more alone
than eventually go bankrupt in that large enough businesses that can't fail
so that we bailed out by the united states where that even mean to let me
know if sweep it under the carpet
the art state doesn't have any money
none of this
i held delusion becomes clear and i would have to leave it there
and this brings me to point
four of this
section if i remember correctly
and that have to do with labor and technological unemployment this'll be a
little news
gear shift from the prior subjects
but to actually out of here
basically go back to the
second point which have to do with the market's distance typical consumption
the need for cheap labor
out of anything you want to have cheap initial implica resources
that you can utilize to retail
cell at a competitive price and make as much money as you can't
articulate where
should be as cheap as you possibly can get it to be that is a natural mechanism
of the market system
that is why we use
slave labor and the third world
and that is why mechanization the use of machines to replace human labor is
growing that rapidly across the world as well as specially in the west
the issue of technological unemployment has been a debate for many many years
and of all the books i've read on at the general economic conclusion tend to be
very shortsighted
though probably accurate for the time period
and that is that dinner is displaced labor but eventually that labor manifest
new skills and it's been played somewhere else
what's happening now very different what's happening now that the
rapid increase of mechanization and technological capacity in
computerization excuse me
the rapid increase of technology is outpacing any form
of uh... relocation of labor
and this is becoming common understanding now
in an l_a_ times article of um...
october fourth called automation is increasingly reducing u_s_ workforces
it detailed exactly what the zeitgeist movement mcginess project in shock
fresco even that even the technocrats
have discussed for years and years and years
and that is the reality that technological innovation is becoming too
cheap it will continue to become too cheap
and to efficient no need for vacations insurance
healthcare
and hence humans will continue to be off
set by mechanization
there's a quote in this article adjust for men stay for mentioned article
by allen
danielle e
chief global economist at decision economics in boston and it states
outright
if cheap technology is available
you substitute technology for people
that's true and that's fundamentally at principal of the market system
and what you have here is the
what their some economists have called b
contradiction of capitalism
and this is a staple of the failure of this
system the failure of the market system that failure
of the idea of competition and labor
for income and everything else
failure of the intricate mechanisms of the so-called free-market labor market
system is occurring right now because of the technological innovation of machines
in fact i want a quick with israel that more of this article if you don't mind
because there's a certain statements registering so beautifully true
with everything that we've been talking about
defense quote
crisis is a catalyst for change
with their businesses hammered by nine eleven airlines cut labor costs by
switching to computer kiosks
to check-in customers
said greg whose ex-president of retail technology consulting firm i saw a group
other industries such as restaurants and retail stores are speeding up
speeding adoption of these machines about three hundred billion worth of
transactions moved to such kiosks in two thousand six
that figure is expected to be four hundred d five billion this year and
seven hundred billion but twenty-four kingdoms accent
he and and eighty a san diego company that provides self-service kiosk to
restaurants including jack-in-the-box
hesina quote dramatic increase on quoting interest from fast food vendors
and the last eight months
said to bring christianson vice president of sales a m not
pm and eight
the company we through the machines restaurant fagan and big up-front costs
because of the n_ it is being driven by the opportunity to increase sales
without having labor or food cost
christiansen
and it's not going to stop
and teaching the more the economic collapse occurs the more mechanization
come into play
the clincher here which is
going back to the
contradiction of capitalism
is that every human being that displaced
loses purchasing power
therefore they can not go in the body
the good being produced by the machine that replaced in in other words
you have all these machines making goods in abundance cheaply but yet you have a
population that can afford to buy anything
because they have no mud no jobs and therefore they have no money no income
so bowman that phenomenon in another
to present its slow grinding halt with the system that we understand
and uh... it's going to be very interesting to see how those dynamics
play out
film i'm going to talk deliberately about
the application mechanization about what's possible today and that and of
course what's happening as well
uh...
there is still a moral issue if you will have to current society where a lot of
corporations are not recognizing because they're still trying to keep the image
that they support the labor force and that they're you know american and made
in america live american workers or whatever
and uh... i'm sorry to say that i have the recession continues the
great recession which will lead to complete global depression if it isn't
already i would have a definition
uh... mechanization will continue and be romantic notions of human labor
well not only be too expensive
uh... and we found that it's simply too productive to make good without him and
labor
in fact that's the final point i want to make on this issue and that is the
reality of that
the more we mechanized more productive it is
it is socially irresponsible for us not to move into deliberate mechanization
hence the removal
of the entire labor a market system
okay those before central attributes i want to talk about monetary expansion
pyramid scheme which will collapse from its own weight intrinsically
the market psychology that doesn't give a damn analysts point resources and
uh... challenge every aspect of decency in our society beat ecological
unemployment paradigm which will make it this is going forward one way or another
and the accent none of the wall street uh... phenomenon in the derivatives
bubbles
and everything else that simply add
fuel to the monetary expansion policy
which is of course adding fuel to the global debt crisis
uh... there was a new release by the action p that
i think by twenty
fifty
sixty percent of all countries will be
defaulting on their economies
uh...
they'll probably a lot of earlier than that in fact i mean
if you really pay attention to what's happening with all the countries in the
world everyone's broke everyone started to falter london evening the default
give every country in the world boeing money to every other country in the
world what the hell is that what is that
expereince sanity
and it's only going to lead to more misery and destruction
as everyone tightening their belts
for this
fictional idea known as debt which doesn't even exist to begin with the
only solution that can happen if i was at the u_n_ i'd say with some guys we're
gonna arrays all
in government debt right now no one does anybody anything
and that's the end of that
obviously if we did that and guess what
the exact same problem what happened because that's what this system creates
so you really can't just get out of it
by erasing everything because the system is still there you have to change the
actual system
okay really quickly come out of time
the other acts of university ecological collapse which is really what the true
collapses everything i just mentioned is crap human beings have invented
and we've created this ridiculous paradigm where we actually think it's
really think money and that's really
haploid obligations to each other based on nothing but fantasy
uh... i'm asking to go through this really quickly because i'm running out
of time
but uh...
water scarcity is approaching crisis levels in the third world it is already
actually
and it will continue to do so in the western world
energy resources we have maybe thirty years
before true energy panics arrives
on this planet
because i mean we're running out of energy in a very literal way it means
that this psychology of understanding the decline of oil
and hydrocarbon energy
and will have such an incredibly profound
impact on the way the markets work the price of oil going back to wall street
do you think uh... you know how many dollars a barrel bellicose two hundred
dollars a barrel and all demand is destroyed across the world
because no one can afford it
this will happen in one extreme or another
you can count on it because that resource declined is inevitable one way
or another an overall we have general resource pollution that we have all
sorts of
deforestation problems but
fish are running out we have the pollution of the fish
you know anyone that want to take a moment to look at what we're doing to
this planet
look at what we're doing to each other
uh... it doesn't take much research to see that everything is in decline
species spasms and everything else
also important to point out that mankind is now using our resources an alarming
rate the establishment production methods we have the wasteful practices
we have
have now are generated a brace you know we are now using of one-and-a-half earth
is every year that's part of what is created
by the earth as reported by the global footprint network
uh... this is just profoundly scary when he put it into perspective
at the salvation of uh... this lecture
the market system in the psychology president
fueled by the monetary expansion policy in debt restrictions
exhausted an exasperated by the
makeup money on the way up the way down wall street mentality which is an
extension of the free market psychology
the ticking time bomb of the derivatives bubble coupled with the government
collapses and the ecological collapse as they are in
is what will lead to not only become laps of this
system
but it left unabated
fall of human civilization as we know it
and i've had a kandahar everyone next