Introduction to how banks make money and the value they (potentially) add to society.
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thanks sal for another great video!!
@Luckilius
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” Its sole value is not in being “pretty.” ”
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It may have uses, but its main reason for being valued highly IS because its pretty.
@ooMatttyooo
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How isnt it an asset?
It touched a nerve for me and I can see by the comments for many others as well when he said gold is valued because it’s “pretty”.
@earlrhee the fractional banking simply means if a bank has 100 dollars they can loan out 1000 dollars creating 900$ out of thin air… that’s simply wrong
@yaqubali Not necessarily. It usually serves as a buffer against deflation.
That is incorrect about gold. Gold is a superconductive metal. It has electronic and industrial applications. Not to mention it has been a store of value for thousands of years.
@ooMatttyooo If it invests into something that produces (e.g. farm), then I would say it’s an asset because it provides future income and capital growth.
@ooMatttyooo An investment is an asset because you are either deriving income from it, or will be selling it for a capital gain in a few years. You own the investment legally and the rights to a claim in the residual assets if it goes bankrupt. Investments are entirely economic benefits to you, which is why they are considered an asset.
How is an investment an asset?
gold is valuable in making electronics.
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@CaptainSkeletor I know it sounds silly but it does work. Not in today’s society that everyone is a slave of money. It takes time but hopefully in decades or maybe centuries it’ll happen, hopefully. that’s the only way to get rid of poverty. it is too complicated to be explained in 2 or 3 lines. Just think about it.
@CaptainSkeletor I know it sounds silly but it does work. Not in today’s society that everyone is a slave of money. It takes time but hopefully in decades or maybe centuries it’ll happen, hopefully. that’s the only way to get rid of poverty. it is too complicated to be explained in 2 or 3 lines. Just think about it.
@noobkosh You seriously believe that would work? Money was created to be a middle hand for trading
It leads to inflation which is destruction
money is dirty. i wish someday the whole money system goes away and conscience show up. imagine a world that everyone work buy anything they want and pay nothing. all people are as reach as they want
@Luckilius
Sources, please.
Because the newer types of banks (financial) were poorly regulated (gov. asleep@the gate/in the pockets of big firms/both) &these banks 4the majority made really risky/greedy/&sometimes immoral transactions that eventually collapsed the banking system. Then, 2add insult 2injury, the Gov. bailed them out w/ our tax$s which means we got screwed several ways: tax paying worker bees lost their jobs, their investments, &then we got stuck w/ the bill 4the banks bad behavior. No accountability.
So, remind me again, why are people pissed off at Wall Street?
He says ‘there is nothing particularly useful about gold’: false; gold has tons of industrial and medical uses that most people don’t know about. Its sole value is not in being “pretty.” Moreover, if people stopped buying gold for jewelry, its price would decrease and thus it would become even more appealing for industrial uses.
I just saw the site of khanacademy and watched this video by accident,and I really wanna say it’s brilliant!
This way of teaching is clearly and easy to understand, I love this video at the first glance.
I watched the first lesson then I can’t wait to see the next lesson now.
When I was in school I think the learning of banking is so boring, because I don’t like it.
But now I found I just enjoy your lesson so much that I wanna learn more.
Thank you! Thank you very much!
@mikefattyk Agreed, money is a BIG problem.