An interesting documentary... Inside job
I just watched this on TV - very interesting! Have any of you seen it?
Original title: Inside Job
American documentary from 2011.
DR2 | Tuesday, January 3 pm. 20.30 to 22.15
Documentation grating Charles Ferguson provides the first thorough analysis of the global financial crisis that hit the world in 2008 and is believed to have cost society over $ 20 trillion. The financial crisis meant that millions lost their jobs and homes. It was the worst crisis since the Great Depression in the 1920s and resulted almost in a global collapse. Through thorough research and interviews with senior financial specialists, senior politicians, journalists and others with insider knowledge representing Ferguson a frightening picture of a through rotten and corrupt financial sector and by the rulers who have driven it to their advantage.
Someone else wrote this below on a forum, I totally agree! What’s your opinion?
“The entire world financial system is on it's knees. This includes countries and banks who have never had to adhere to a shred of US governmental regulation. That argument is entirely bogus. Banks lend money because it's how they make money. The banks have been grossly UNDER regulated - otherwise they would have had the capital to cover their loses rather than the rest of us paying for their mistakes.
The world economy is a house of cards. The value of all the stocks/shares/futures etc traded on wall street is something like 8 times the value of the actual things in reality. So, basically 7/8ths of it is speculation. They aren't growing a product, they aren't refining a product, packaging it, transporting it, or selling it. They're just gambling on it's future value. At increasingly small margins. To no-ones benefit but themselves.
Futures are commonly traded 7 or 8 times in the last minute before being publically quoted (automatically, using computer algorithms - it's not even like someone is in control). The guy that grows the coffee gets no more money, likewise the guy who transports it, the guy who refines it, the guy who distributes it, the guy who sells it, and least of all the poor schmuck who buys it. Because most of the profit lies with the parasitic scum in Wall street playing with other peoples money.
Off with their heads!”
