Finance is Super Rational about Profits, Irrational about Global Economy - Flassbeck (2/3)

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1. The whole point, nay the NEED for exchange rates is because all countries can print money.  If a country prints a lot of money compared to another, the exchange rate determines that currency is now worth less than the former.
   
   If exchange rates were taken away, any country could print as much money as it wanted to export their inflation to other countries. (Much like the US is currently doing with their dollar.)  So while it's horrid that the US is doing this.  Having ALL countries able to do this would simply create hyperinflation the which the entire world has never seen before.
   
   Now having ALL money printing managed by one source is pretty close to what the US has right now, expect it would be behind the scenes and you'd know even LESS of which countries is printing rediculous amounts of money compared to the others.
   
   The entire point of the G20 meets have been the US convincing other countries to print money at approximately the same rate they have been (for now).  To make their own dollar seem stable.  And then of course go behind the scenes, give the banks a ton of free money which they spend on emerging markets, flooding their systems with cash and exporting the US's inflation.
   
   This is a new low of bad financial advice from TRN.
2. Interest is Criminal period
3. take away their carry trade, and they'll just find a more devious and/or harmful way to turn a profit without creating real wealth.  and this follows a trackable pattern: back when stocks and bonds could be relied upon to keep the rich rich, their practises had little ill effect on the masses.  but as capitalism progresses, profit becomes more elusive.  hence the creation of ETFs, derivatives and hedge funds. and as it continues to get more difficult for big money to make money, the methods get more predatory.  and who is the prey?  it's you & me, or rather our futures.  our pensions, our savings, and our real income.
4. The existence and future of human civilization is in doubt until the absolute criminality of these activities is recognized and ANYONE who engages in or even advocates these activities is executed immediately.
5. can you make your parts a bit clearer please? its a little confusing.
6. Like all economic blather this is just one man's opinion. The money will flow to those countries where it makes the highest return with the least risk. In fact the Turkish economy is starting to fray at the edges because foreign money is flowing OUT since capitalists are now taking their profits.
   
   And let's be clear about interest rates. BANK interest rates are very low, that is the rate at which BANKS borrow money from the central currency reserves. This was done deliberately to assist the banks in their "recovery" from their self-inflicted wounds. However the rates BORROWERS have to pay have remained virtually unchanged, for example credit card rates are still about 16.5%, so the opportunities for profit are huge in the developed world.
7. Actually, it is not hyper rational about profits, it is hyper rational about EXECUTIVE PAY. If the executives can boost executive pay by reducing profits THEY WILL DO IT. If they can boost their pay by bankrupting the company and selling the best bits off, they will do that too.
8. would it kill you to organise your youtube videos? try searching flassbeck 1/3...