Busted: Bankers and The Global Economy

July 30, 2009

Video: The World of Planet Finance

Filed under: banking, economy, inflation, money — Tags: , , , , , , , , — digitaleconomy @ 1:13 am

ascent of moneyEpisode Four of the Ascent of Money illustrates the spread of financial practices across the globe including the bad, the American real estate bubble and the consequences of the subprime mortgage fiasco. The series, hosted by Professor Niall Ferguson is not exactly perfect and leaves out some details along the way. However, the presentation is worth your while and contains some nuggets of understanding that you can take to heart. At the end, this episode clearly shows what happens during hyperinflation, using the plight of Argentina as an example. America faces a similar plight, but has been immune so far because the dollar is the prevalent world currency, bolstered by foreign investment. The dollar as the chief currency could change and when it does, so will the fortunes of the nation.  Right now we have a mighty wrestle going on between central bankers and many nations that could benefit mightily from a global currency change. A shift in that balance will mark the end to  the status that the nation enjoys.      video link

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