Taken from JRE #2067 w/Dave Smith: open.spotify.com/episode/2VdO...
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Everyone’s been preaching investing lately as a source of passive income but with a 70 hour weekly jobs and limited knowledge of financial instruments, how can I actually stay on top of things, I see every KZhead video saying BUY BUY! But when and how do I sell for profit at the right time?
@PowerRuckelshaus3 күн бұрын
It may be a good idea to speak with a financial advisor who can help you develop a portfolio based on your individual goals and risk tolerance.
@ElenaFrankfurter3 күн бұрын
Partnering with a financial advisor has transformed my approach to investing. Their expertise and personalized guidance have not only helped me navigate complex financial markets but also optimized my portfolio to achieve my long-term goals efficiently.
@Mckennie617513 күн бұрын
Your advisor seems competent. Could you share how I can reach out to them? I've recently sold some property and am interested in investing in stocks, and I'm seeking guidance.
@JordanReam81863 күн бұрын
Jennifer Leigh Hickman is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
@Mckennie617513 күн бұрын
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
@Christine-wp2bw3 күн бұрын
I learned this in like 2015. I’ve educated myself little more since then. But I saved a little money to purchase a car. Went to my bank (local credit union) and requested to take 11k out . They told me no. I was freaking pissed. Eventually a manager came out and allowed me to take the money out , but I was dumbfounded they even told me no to begin with.
@williamblackburn3135 ай бұрын
Yeah.. banks are a mega corp and need to make money - which is fucking retarded
@GeorgeGeo5 ай бұрын
People are supposed to just,give you money when you ask for it?
@xmathmanx5 ай бұрын
Went to take out a home loan with high credit and a 10% payment for 200k house. I was told no I dont earn enough meanwhile my rent is higher than the mortgage. It’s messed up.
@mehoyminoy13265 ай бұрын
Do you use a credit union? If not I believe they are a little more generous than "for profit" banks
@highginx5 ай бұрын
When it's his money, in their safe.. Yeah, of course
@DermalDeviations5 ай бұрын
I talked to my coworkers a month ago, bringing up almost every point Dave brought up + how income tax was introduced. People looked at me on the call like I was speaking Swahili... I think the financial system is so unbelievably corrupted people simply don't believe it when you tell them. They think you don't know what you're talking about, its extremely frustrating.
@lorenza25895 ай бұрын
A lion doesn’t concern itself with the opinion of sheep. You can’t help everyone. Focus on who will listen.
@brettherring21385 ай бұрын
A wise man can see knowledge clearly, and unintelligent man says they know knowledge but can not say
@cutlusdeloy71005 ай бұрын
You need new friends. Literally no man I talk to doesn't understand this stuff. The problem is we can do nothing about it at the moment.
@gorkyd79125 ай бұрын
Position yourself to take advantage, use people’s nativity to your own advantage and let them cry poor to you later
@tylerdavies18195 ай бұрын
People in general are just oblivious. I keep telling people that we are paying too much in taxes and that our lives would be a little better if we cut our government and lower taxes for landlords, builders and maintenance. That way there will be more competition and rent will cost less than 1000 or 2000 a month. But most people don't take this seriously or just don't want to talk about it at all.
@afrikasmith10495 ай бұрын
I'd like to see joe rogan put on more of this kind of content (economics, banking system, current prices, inflation...etc) the world is too expensive right now, and it would be nice to talk and educate people about it
@salmalaachiri73975 ай бұрын
More loony reichwingers that have no idea how currency is created?
@OpalSound5 ай бұрын
No one walks up to a teller anymore? Reality check my guy
@isaacmckinney10985 ай бұрын
@@harrym9655its not price gouging if they have to spend much more on everything including employing a lot or people
@misled78475 ай бұрын
yeah what better way to learn about serious topics than from an alchie comedian with a Wikipedia education
@wightclaudia5 ай бұрын
Joe Rogan for economics and financial advice and education LOLLL
@alainouellet77945 ай бұрын
When Soviet Union collapsed, my parents and all other Eastern European had all their money on savings account all their life savings. When hyperinflation hit the country, all of their accounts were frozen, no money was given out and everyone lost all of their life savings. It was given out when a lighter was now more expensive than a car. This is how all Eastern Europeans became broke in 1990s and until now many people keep their savings in 6 different banks, some offshore, avoiding loans and debt or keeping money under the mattress… Ironically everyone who wanted to be a millionaire, they all achieved that goal! They got me a Nintendo for $50 Million Rubles I remember.
@IgorRyltsev5 ай бұрын
Most Asian third-world countries also experienced this in the 1990s. The bank closed, and they converted your dollars into worthless currency. You're better off putting money (dollars) under the mattress. I've never trusted banks and have always diversified my assets.
@iqbalmatondang3 ай бұрын
My grandfather had enough money saved to buy an apartment before the fall of the regime. They had enough to buy a washing machine after.
@user-ko7fo8fo7j3 ай бұрын
Same as SA in 1994 and Greece in 2008. $80 a day. Sex you and the leaderships bs.
@imagoodlistener27302 ай бұрын
Sounds like a Bitcoin advertisement to me.
@TheAed382 ай бұрын
Even if you had it in a mattress it would be worthless hence Venezuela. Gold and bitcoin is the way
@Lssjg70226 күн бұрын
FUN FACT: On March 26, 2020, the 10% and 3% required reserve ratios against net transaction deposits were reduced to 0% for all banks, essentially removing the reserve requirements altogether. It was replaced with Interest on Reserve Balances (IORB), or interest paid on reserves the banks hold as an incentive rather than a requirement -- Rate on Reserve Balances (IORB rate) 5.40% as of 7/27/2023
@mnpuck5 ай бұрын
Mize well be Japanese that your speaking .
@TheRealRonRico3175 ай бұрын
And this is why the banks get away with doing it, because 99% of people haven’t a clue whats going on or how to figure it out!
@modernsaver-km5ex5 ай бұрын
@@TheRealRonRico317that's part of the problem. They don't teach this in public schools.
@Unadapted5 ай бұрын
What does that mean?
@Bob-lr2xp5 ай бұрын
@@Bob-lr2xp It means that banks dont have to hold any of your cash. They take it and invest, purchase, and lend it out in order to make returns on money that they don't even own. IORB is what they pay banks to incentivize them to hold cash, just in case.
@stardestroyer445 ай бұрын
I wish Dave smith would make a book explaining things so everyone could understand. I would immediately buy that book.
@travanw855 ай бұрын
No need. The information is already out there in easy to digest formats. People don't want to learn 🤷🏻♂️
@mtzgbl5 ай бұрын
Check out Mises institute. Rothbard wrote probably the most famous book on the subject "what has goverment done with our money" Per Bylund has written newer ones on the subject.
@GoodIdeasDontNeedForce5 ай бұрын
Have you heard of the Monster on Jekyll Island?
@warcraftnut13545 ай бұрын
Ron Paul already explained this in a book
@benyameenyitzhak10365 ай бұрын
There are a ton of books on the history of money and the significance of the gold standard
@Motoboo_Marine5 ай бұрын
I tried taking out $800 from a checking account from my previous bank (Old National Bank) and I was declined. I was using this money to purchase a firearm for home/family defense and also to protect myself from this corrupt government. It was almost ironic in a way that this happened.
@ryanrubio87245 ай бұрын
Did you have 800 dollars?
@rastamoto5 ай бұрын
@@rastamoto What he's saying is that some financial institutions were denying withdrawals, even when people had the money in their accounts.
@scratchpenny5 ай бұрын
@@scratchpenny not that small amount. When you ask to take out 5 figures, I’ve been told I need to order it in. Took a couple of days. Banks aren’t denying $800 bucks.
@rastamoto5 ай бұрын
@@rastamoto Yes, but Old National Bank has a history of this behavior, having many excuses for denying the withdrawal. Look at their consumer reporting history - it's atrocious. I am not saying there wasn't a legitimate reason for the OP, but it's not as uncommon as people think with some of these shadier banks.
@scratchpenny5 ай бұрын
I am calling bullshit.
@dister725 ай бұрын
What frustrates me is that we know the system is broken, yet we do nothing to fix it. We just sit around and complain about it. The conversation Joe and Dave are having could have occurred 40 years ago and nothing has changed.
@zada0005 ай бұрын
The govt doesnt want you to fix it, the riots in every major US city in 2020 were for the party that tries to make the system biggger
@brent40735 ай бұрын
You know that he almost ran for president now. Maybe next time.
@nahiag5 ай бұрын
buy bitcoin and hold in cold reserves
@bigcockedman7145 ай бұрын
The system is not broken, it works perfectly as intended. That's why it never changes.
@rotarurazvan30645 ай бұрын
You must realize the big pigs on top DONT want the system to be fixed
@cyberhype54955 ай бұрын
"The goal of a debt based economy is to not get caught stealing... the only way to not get caught is if the people allow them to go to a cashless system. If they can't go to a cashless system eventually the economy will crash and they will get caught." ~Bill Cooper (around the late 90's)
@mondolilith79175 ай бұрын
Cooper*
@RonSlinker-dt7vr5 ай бұрын
@@RonSlinker-dt7vr Thanks for the correction Ron!
@mondolilith79175 ай бұрын
Another reason they want CBDCs.
@makkrowmazztikk70035 ай бұрын
@@makkrowmazztikk7003 bingo! They've kicked the can as far down the road as possible... either they're about to get caught... or we're in for several generations of sheer hell!
@mondolilith79175 ай бұрын
Explains why they are pushing so hard and fast for CBDCs. They know the system is about to fail, so time to switch to another scam, or they go down.
@matthewhudson56855 ай бұрын
Dave! Bang on! I'm sharing this clip with my peeps right now!
@davidglenn27395 ай бұрын
Very well explained... especially the very important fact your bank account holds not your money, but your loan to the bank.
@SkyCharter5 ай бұрын
I was a delegate for Ron Paul in the Republican primaries in 2012 so when I hear him brought up it makes me happy.
@Tom-kl7qs5 ай бұрын
You did good work, sir. I did all I could for him as well knowing full well the establishment, their media propaganda and even his own party was trying to stop him.
@user-lb8bg6kj9m5 ай бұрын
You're one of the crazies, huh?
@AnthonyGargini5 ай бұрын
I wish Ron could've gotten that 10% flat income tax passed into law. Of course it was never going to get voted in, because it made too much sense!
@erikc30575 ай бұрын
@@erikc3057 Ron Paul's main message was eliminating the control of central banking and fiat money over the people. A minimum IQ is required to even understand that issue. Most fall below that minimum.
@user-lb8bg6kj9m5 ай бұрын
Wasn’t Ron Paul a puppet ?
@sa47695 ай бұрын
the fact that almost every adult knows these things and nothing changes is what is scary...
@krellin5 ай бұрын
💯
@290revolver2905 ай бұрын
Exactly shows how much the rich control everything
@fourvetperrie4575 ай бұрын
I agree! The only thing that I know to do is to keep my money at home and vote republican . Every system is so corrupt I don’t know what else I could possibly do.
@larrybuckner86195 ай бұрын
They all think one day they will become part of the wealthy so they just go along with it and try to play the game like the rest who sold their souls
@Skateandcreate95 ай бұрын
I'd wager that 9 out of 10 adults have no knowledge or understanding of any of this.
@undefinedvariable80855 ай бұрын
thumbs up for bringing dave smith! I listen to JRE in hopes he keeps in bringing people like Dave smith who reads history, facts, and research before coming and talking in here.
@awsome8405 ай бұрын
Dave Smith is has down one of Joe Rogan’s best guest. So informative.
@Alexyourm5 ай бұрын
He is a smart guy who figured out he can get attention by pointing at complex money and screaming “sCaM”. I literally see nothing wrong with the federal reserve, it’s not impossible for the layman to understand. Please don’t make me exercise my 2nd rights to defend our incredible America from your ideas.
@jakeroper10965 ай бұрын
If you appreciate a pile of bullsbit smothered in lies
@OpalSound5 ай бұрын
@@jakeroper1096 you dont think anything is wrong with it because it either works in your favour or you can't do maths.
@Sexyoldgeraldorivera5 ай бұрын
@@Sexyoldgeraldorivera that must be what people sell you after the line “they don’t want you to know this..” People who hold gold or gold mining shares would make a killing off of the destruction of the FR… I’m confident you’re smart enough to figure out the grift.
@jakeroper10965 ай бұрын
It is odd that luxury items like TVs and computers and video game systems do get cheaper over time but food and water and things we need to survive get higher and higher.
@TheNewFNShow5 ай бұрын
There's a LOT more to that than meets the eye. Who controls commodity pricing? (you need to get rid of your gas stoves, you need to travel less, you need to eat bugs instead of meat, you need to use less carbon, you need to move into high density housing in 15 minute cities, your farms produce too much nitrogen, etc etc . you'll own nothing and be happy)
@skippylippy5475 ай бұрын
@@skippylippy547 Commodities are used in electronics and yet electronics still get cheaper!
@ricomajestic5 ай бұрын
NEVER STOP HAVING DAVE SMITH ON. Man is a national treasure
@slayyster5 ай бұрын
I AINT NEVA GONNA STOP LISTENING TO DAVE SMITH
@neelmoudgil49625 ай бұрын
All he does is just complain how bad the US is. Like if the US is so bad then leave to somewhere where it’s utopia
@rayjimenez33095 ай бұрын
@@rayjimenez3309 How about trying to change it.
@bobdavidsonm.d.72145 ай бұрын
@@rayjimenez3309 idk if explaining issues is “complaining” but yes he should move to a non-existent place
@CantTellYou5 ай бұрын
@@CantTellYoumAll he does is highlight every single negative thing about the US. Never heard this guy say anything positive about the country that allows him exercise his 1st amendment rights. No one’s said the US is perfect but bet your ass is the best out there. Was frustrated is that someone who may not be verse in geopolitics will listen to this guys and believe the United State is this big bad evil empire.
@rayjimenez33095 ай бұрын
This should be a mandatory video everyone has to watch.
@TheHakuson5 ай бұрын
I gotta say I've been really impressed by Dave from watching him on these podcasts!
@mccoybyz10995 ай бұрын
No one brings up Ron Paul anymore. He was the last great true statesman. Glad he discussed him and the currency issues in detail.
@danjohnson29865 ай бұрын
Joe definitely needs to bring Paul in. I'm not a libertarian but have immense respect for his positions and battles against the political establishment.
@vlada5 ай бұрын
Other than Dave, Vivek Ramaswamy considered himself a Ron Paul "superfan" when he ran for president over a decade ago. Others such as Tim Pool and Luke Rudkowski (wearechange) have been inspired by Dr. Paul as well.
@EJGallagher-de8ji5 ай бұрын
I worked for Dr. Paul's campaign in 2012. I haven't voted since the Republicans screwed him at the convention. Both political parties are criminal gangs. 2 edges of the same corrupt sword.
@QuanahParker175 ай бұрын
@@EJGallagher-de8ji I don’t know Tim Pool has been pretty hawkish lately. He doesn’t seem to have the best grasp on US foreign policy over the last 30 years
@easyegg97605 ай бұрын
When he was running at the time, they called him too old .....🤦♂️. He's healthier than our current president. He was a doctor, he is fiscally responsible, and wanted to audit the fed. He got screwed.
@HeffewiezenDudeGuy5 ай бұрын
I was just thinking "After Tim Kennedy, Rogan needs to bring on Dave Smith for a different opinion on Israel and Gaza" Smith and Glenn Greenwald have been on point on this topic.
@zerocool53955 ай бұрын
The problem is Dave smith only starts the history of Israel Palestine at 1948 when it goes further back than that
@aaronkelly30355 ай бұрын
Dave dropped the ball at one point. Joe wanted more information on the West Bank. Dave gave next to nothing. There are plenty of viral videos of what is going on in the West Bank that completely makes Tim Kennedy's argument against Palestinians look either ignorant or just plain dumb. Armed Zionist illegal settlers and illegally occupying Israeli troops are literally terrorizing unarmed natives of the West Bank. There is no armed militia resistance in the West Bank for Israel to play the "defense" card.
@ModeratelyAmused5 ай бұрын
No they haven't because they've given no solution for Israel to protect itself in the future, and a ceasefire would only allow Hamas to reestablish themselves again and commit more attacks for which they've already vowed they'll do. You can argue all you want who's land was who's, but that doesn't give anyone the right to massacre innocent civilians 70 years later. You can say Israel has killed Palestinians too, but it's pretty easy to see that one side kills deliberately and target's civilians while the other sides deaths are casualties of war. Israel doesn't attack unless first attacked upon first. They give warning to Palestinians before they bomb. It's not their fault Hamas, the elected leadership group hides its weapons and HQ in heavily populated areas and then puts its citizens in front of them as human shields. By the way, one thing that wasn't brought up in this interview is that 70% of Palestinians polled supported the attack on Jews on October 7th. So if your going to suggest Palestinians are innocent peace loving people that poll proves otherwise.
@andrewdishman265 ай бұрын
problem is you care about the mandates of the defunct ottoman empire. losing wars has consequences@@aaronkelly3035
@grizzly311tr5 ай бұрын
dave thinks hes smart but knows nothing
@bob-zo7rp5 ай бұрын
This is a fantastic video, you are absolutely correct.
@johnmacneill64035 ай бұрын
dave smith is my guy finally someone who thinks just like me. i thought i was an idiot for so many years. id bring up stuff like this back in like 2010 to people and they called me the crazy one, i was the bad guy for even thinking stuff like this. now its all coming out
@user-qb5vt5hg7n5 ай бұрын
So happy to see Dave on again. Need him every few months at least.
@nateauld5 ай бұрын
Why?
@DogmenHardcastle5 ай бұрын
@@DogmenHardcastle Cause
@JerseySlayer5 ай бұрын
People actually like this guy?
@jdan355 ай бұрын
@@jdan35 I don't think so, there must be some other reason. I'm still confused.
@DogmenHardcastle5 ай бұрын
ga yy
@jpmacunha5 ай бұрын
Damn this guy nailed it! This system is complete BS and we all just buy right into it.
@randysullivan44795 ай бұрын
a gold standard for any nation's currency is a joke and could never happen again, that's why every nation has deserted it.
@id10t985 ай бұрын
We're really much born into it. The name on your birth certificate is the name of your living corporation. That's why we get taxed heavily. Edit: so when we die, we become a corpse.
@jcthomas14635 ай бұрын
Not all of us. Only stupid people.
@Barabus-yx2cn5 ай бұрын
@@id10t98it kept the govt in check and accountable. Definitely not a joke.
@highplainsdrifter65775 ай бұрын
@@highplainsdrifter6577oh yeah a lot of checks on the government when they are the ones that took us off that gold standard
@dougsfriendskeeter5 ай бұрын
This was a great bit in podcast...that how basically banks works in a nutshell...and the illusion that they hold your money and how banks system collapse, gambling our monthly salary for more interest and greed. Its a wonderful life was a great movie but i never looked it form financial POV JR and Dave smith are the best.
@pranjalrajg5 ай бұрын
Almost correct. Since covid, there is a 0% reserve requirement. They have done away with the fractional reserve system.
@btrasbt5 ай бұрын
Dave Smith episodes are the best. It always seems the most level headed individuals with collective interest in mind, would never become politicians.
@markm83755 ай бұрын
Dave talks about things with such conviction but is incorrect about 90% of what he says😊
@bobbys19845 ай бұрын
@bobbys1984 so is Joe... Reindeer eating yellow snow to get mushroom metabolites from shamens was my favorite.
@fordprefect73165 ай бұрын
disagree, Joe Rogan all episodes are the best. Dave smith claimed NO americans are pro putin, he should know better than to say that lol, joe corrected him with the MMA traitor being pro putin.... dave shouldve known this, and also steven seagal is pro putin... ;/
@Tyler-hh8jx5 ай бұрын
You think the best JRE's are with Dave Smith. The best are Protect our Parks. Dave Smith is bottom 5 imo.
@spicymustardhotdogs3945 ай бұрын
@@spicymustardhotdogs394 its all objective, some like political/science/world view talk, others like drunken comedic rowdiness, i enjoy both.
@corrob5 ай бұрын
There has never been a single fiat currency in history to survive long term. Ever.
@Jackaroo.5 ай бұрын
Jackaroo. True. So what are you investing in these days besides gold and silver?
@skippylippy5475 ай бұрын
literally everything is fiat because something is only worth what someone else is willing to pay for it... Moron.
@ifyoudisagreeyouarewrong5 ай бұрын
Everystein singleberg timeowitz
@mediaisthevirus5 ай бұрын
Excellent video of the fractional reserve system.
@sparksandchips5 ай бұрын
This guy is one of my favorites on Joe's podcast
@28copland3 ай бұрын
The cell phone signal analogy at the end is super awesome please clip that and make it go viral.
@phlezktravels5 ай бұрын
you do it
@adamhodgson41855 ай бұрын
Clipseption
@makkrowmazztikk70035 ай бұрын
Dave Smith is both fascinating and scary to listen to. God bless him.
@ronburgundy42665 ай бұрын
Fractional reserve banking system is a superior monetary system, especially compared to the gold standard, for one simple reason: credit is always going to be cheaper in fiat rather than gold. That's why every single country adopted it. Money do not exist for you to store in your mattress, they exist to make investment accessible to everyone. If you want to save go open a savings account.
@decentralizeddemocracy83355 ай бұрын
He’s right on his analysis yet very weak on how to change things. He’s afraid of guns which is a position no libertarian can really have if they want change or to defend their ideas
@darbyohara5 ай бұрын
@@decentralizeddemocracy8335 F-ck off with that lie, because that's exactly what it is, an establishment lie. It's the worst monetary system, Fiat Currencies and Fractional Reserve have the worst track record compared to a multitude of actual monies being exchanged in a non-corporate banking market and continue to have such even after what, 3 or 4 THOUSAND YEARS OF MAKING THEM?!! Nah, the claim it's the best system is the damnedest of lies and it always will be. You just appealed to majority, henceforth, it's not valid, so quit being fallacious. Those who are for freedom of banking call fractional reserve a fraud, the reason is very simple. If you hand a loan out to person A, they use it and start paying you back, plus interest, the moment you make another loan and use person A's debt notes as the currency to loan say 10 times over, you make the purchasing power signal of each dollar sign TEN TIMES WEAKER BY FRACTIONATING IT DOWN TEN TIMES.... "Money do not exist for you to store in your mattress, they exist to make investment accessible to everyone" no, that's empty commie rhetoric, governments wanted more control over stuff, that's why they adopted central banking and fractional reserve. Six core functions of monies are: 1. Mediums of exchange based on commodities and assets 2. Stores of value 3. To make purchases and trades easier 4. Holding reserves for future payments. 5. A standard of deferred payments. 6. RELIABLES UNIT OF ACCOUNTING Monies should exist to be mere mediums of exchange, but we don't have monies, we have CURRENCIES. "If you want to save go open a savings account." is not a valid argument either.
@DerpyRedneck5 ай бұрын
@@decentralizeddemocracy8335you don’t need credit when your currency has real value. When you aren’t trying centrally plan the economy, prices are allowed to drop and you won’t have to deal with constant rising inflation
@mr.chimichanga69475 ай бұрын
@@darbyoharaare you suggesting a revolution or something?
@mr.chimichanga69475 ай бұрын
Joe and Dave really hit the nail on the head, I have never bought into the modern money theory and certainly never believe any company is too big to fail.
@timhowell69294 ай бұрын
The topic they are talking about is super important for everyone to know.
@mrj32175 ай бұрын
Dave is such a fantastic guest. Always always always listen to the full episodes.
@NVSTRZ345 ай бұрын
Agree!
@RTL2L5 ай бұрын
like Dave, he a good comedian.....but he isnt very smart lmao.
@transformerstuff70295 ай бұрын
Agree one of the best
@josurke5 ай бұрын
Libertarians are the worst
@dougsfriendskeeter5 ай бұрын
Whats crazy is that you people are NOT discussing whats really important here. Instead, you people are just chirping "he is a great guest". Nothing will change in this country. Even when the evidence is presented in front of you, you do nothing. You say nothing. Sad.
@user-kb1hw2yq2f5 ай бұрын
Dave Smith dropping knowledge as always!!!
@victoriaman1175 ай бұрын
Its finally completed:kzhead.info/sun/ZMV6ZduripuMaq8/bejne.html
@osmosisjones49125 ай бұрын
conservatives pretending to care about the size of government when their guy isn't in office.
@Rakanishu25 ай бұрын
He’s Knowledgeable if you’re a child. This libertarian nonsense sounds good to naive, uninformed people. 😂 laughable.
@Arthur-Silva5 ай бұрын
@Arthur-Silva The problem is, most kids are graduating high-school without knowing how our money supply works.
@mitchmoe62245 ай бұрын
@@Arthur-SilvaI know right. Listening to this guy talking about Nixon taking off gold standard, make me want to jump off a cliff. Also, this guy has no idea how fractional banking reserve is the single greatest wealth creation system imaginable. This libertarian bs only feels good to any one that’s illiterate.
@datvo30765 ай бұрын
This very video should be in every news broadcast. The rabbit hole goes alot deeper but the initial shock is more than enough to wake some sheeps up
@zayd.g5 ай бұрын
My country uses the same banking system but the difference is I learned about it when I was about to open my "adult" bank account, because I got confused by the explanation and asked. I think the difference between the US and other western countries is in the informing the customers. Same as data roaming.
@yahyarajaee58835 ай бұрын
Dave Smith does such a great job of accurately reflecting Libertarian principles and logic, in my opinion.
@user-yr3hu1ug7r5 ай бұрын
What does it matter if no action is put behind the words
@Is-there_a-ChristianGod5 ай бұрын
@@Is-there_a-ChristianGodwhat is he supposed to do? He can’t make people vote in their best interests. All he can do is inform people about the truth.
@jetorixjones5 ай бұрын
@@jetorixjones the ppl is to stoopid as a collective
@Is-there_a-ChristianGod5 ай бұрын
@@Is-there_a-ChristianGod are you gonna vote for his option? or will you criticize something you feel doesn't exist ? Make it happen.
@lovelife18675 ай бұрын
@@lovelife1867 I don’t vote they say the definition of insanity is repeating the same thing over and over again excepting a different result. 3 things I’ve learned In my life time. 1) never seen one president do a damn thing in the interest of the ppl. 2)And anybody that’s for the greater good end up unalived. 3) don’t be offended but if white ppl involved with power. It’s a secret, some agenda, and it never turn out good. This shit is stuck on wash rinse repeat. It sound good.
@Is-there_a-ChristianGod5 ай бұрын
This is the most important discussion on Rogans podcast in a very long time. These truth bombs are essential to waking people from their trances.
@joshspeed77945 ай бұрын
So you say you're awake? What are you doing about it all? You still service your debt? Pay your taxes? Vote? Just curious what one who is awake does to correct the issue of blatant corruption while accusing those asleep of being the problem.
@troyrager13525 ай бұрын
@troyrager1352 I understand what you’re saying but they’re not wrong, the more people who realize what’s going on the more likely something will be done about it. But on the other hand you’re not really wrong either, I grew up Christian and would always see people in church talk about “spreading the word of God” but never actually go help homeless people (you know, like Jesus himself has been said to have done). So I do think that if someone is “awake” and don’t do anything about the problem, then that honestly makes them worse than the people who are “asleep”.
@electronichaarp28353 ай бұрын
This whole free market argument is no longer totally true. It used to be that if a company made bad investments or business decisions there was an apparatus to resolve it. They would declare bankruptcy and once liquidated the prefered stockholders would get paid first, then the common stockholders would get anything that was left. Bond holders were left holding the bag. But now we have "to big to fail" and when they get things right they privatize the profits, and when they get things wrong, they socialize the losses. But I agree with the rest of your argument.
@AG-un7dz5 ай бұрын
I think Dave would agree with your completely. We’re not in a free market at all and many of these massive corporations would go out of business if they weren’t in bed with the federal government.
@AdamVassGalКүн бұрын
Amazing points brought up by Dave. This is how you get things like the student loan crisis, healthcare costs ballooning out of control, real estate bubble, stock market bubble, and especially the military industrial complex. The supply and demand for fiat currency is unique in that demand is inelastic regardless of how much money is created because you need more of that ever-expanding supply to be able to pay bills and live your life. This applies to people on the basis of being citizens, consumers, and taxpayers. Inflation just means the expansion of a monetary supply.
@ThJR621 күн бұрын
They don’t lend out demand deposits. They are allowed to create 90% of additional credit. Simply means: bank creates a new loan (asset) and new demand deposit (liability). They only need to keep a reserve ratio in line with federal requirements. And even then, they can borrow overnight funds from the repo market to meet reserve requirement. Also, banks take your deposits and invest them into securities to earn interest and pay you a minuscule amount on that amount
@fromdusktodawn5095 ай бұрын
dont forget to mention banks could still lose your money and there's nothing you could really do.
@kungpowsesame82605 ай бұрын
That’s why you should only leave as little money as you possibly need in the bank to take care of daily expenses. And you should invest any surplus.
@tomcat86625 ай бұрын
@@tomcat8662 then you still risk loosing your investment, also if the system crashes and you invested somewhere or into somewhat, there is still no guarantee to get the investment back unless you physical buy idk gold or whatever and keep it in your bunker
@climatixseuche5 ай бұрын
What are securities?
@Not_Invisible_1175 ай бұрын
@@tomcat8662I have all my money in gold in a safety deposit. It's always going up with silicone demand
@DarthRambo0075 ай бұрын
funny how i been learning about this for over a decade and everyone pretends like it doesn't exist until some big shows this
@nocapitals98335 ай бұрын
Then you didn't carefully observe what just happened to "everyone" in the past 3 years of the so-called pandemic? Here's what I observed: People did exactly what they were told to do. They gave up all their Constitutional rights and allowed this government to strip away every freedom they ever had. They allowed their schools to be shut down. They allowed their churches to be shut down. They allowed their businesses to be shut down. Then "everyone" got exactly as afraid as the government propaganda told them to get. Then, like sheep to the slaughter house, they lined up and took their "jabs". Were you paying attention?
@skippylippy5475 ай бұрын
See the importance of controlled media??
@CleverGirlAAH5 ай бұрын
I live outside DC in the suburbs. I make a wrong turn and the houses are amazing. Nestled back in the woods in Annandale
@DanGonsalves5 ай бұрын
It's funny that Dave states information that most people in Argentina got to learn in the hard way.
@AgustinBranda5 ай бұрын
What happened there? Links?
@PerspectivePossibilities5 ай бұрын
There whole economy crashed and you couldn't get your money out and day told everyone no. Got to the extent dey had a 200dollars a week limit for withdrawal
@aliyumohammed91735 ай бұрын
Alexander Hamilton’s vision in full swing. Jefferson and Jackson were right!
@dr.bendover29475 ай бұрын
Holy crap a reader!
@batzzz20445 ай бұрын
We've been ruled by a den of vipers and thieves!
@SouthoftheHill5 ай бұрын
Its finally completed:kzhead.info/sun/ZMV6ZduZeGetpovM/bejne.html7w
@osmosisjones49125 ай бұрын
“I believe that banking institutions are more dangerous to our liberties than standing armies” Thomas Jefferson
@IamtheRealrexman5 ай бұрын
Same thing with court system. If everyone pleads not guilty it crashes. They need pleas to exist.
@chrisprysok76345 ай бұрын
Only because it’s operating below capacity. If they hired more judges, and expanded they could account for more cases.
@johngalt394026 күн бұрын
Wow wow wow -- such a nice articulation - joes show is a gold
@zikaperic21335 ай бұрын
This was more info on finances than most could handle in a lifetime. Thanks!
@sarahm-a27825 ай бұрын
I love Dave Smith. Love when he's on the show!
@theonlybenbaker5 ай бұрын
He’s a cool dude, but man he doesn’t know what he’s talking about
@bobbys19845 ай бұрын
Lol suddenly I'm worried about Dave Smith. He's being critical of all the exact groups it's always dangerous to be critical of 😂
@scroopynooperz90515 ай бұрын
@@bobbys1984said in the comments of KZhead about a Joe Rogan podcast 😂
@scottleggejr5 ай бұрын
Im surrounded by sheep. Every direction. What is the point of your podcast addiction if you do NOTHING with this knowledge? The amount of passive human beings is unreal. People used to fight for something. Used to stand for something. Now as long as they get their instant gratification daily dose, they dont mind getting fuxed up the as@ by big companies and the government. Unreal.
@user-kb1hw2yq2f5 ай бұрын
The Bible is truth. To understand this you must do the inner work Jesus Christ taught. It all starts with forgiveness from the heart. Start by finding the grievances we all build up with our parents. They have generally raised fed loved us to some degree. Looking inside, realizing that they are people who make mistakes too, and genuinely forgiving them everything shows an important aspect of your soul to God. Genuinely mean absolute forgiveness inside your heart. This is key. To be forgiven we must forgive. This step teaches you why Jesus Christ is lord, and why you need to break down to him and ask for forgiveness. Afterwards read Genesis, Mathew, and one book of the Bible you chose yourself. These four steps have important spiritual significance and are like milestones within our souls. Please trust me. Genuinely open your heart up to God. It is all true. Jesus Christ is the way truth and life. 😊
@JamesLaftonMayle5 ай бұрын
Look at the charts. Middle Class started shrinking from the moment in ‘71 when we went off the Gold Standard! This guy nails it!!
@richardhodge68175 ай бұрын
Middle class got much worse in 80’s when stock buybacks were legalized, and anti trust laws laxed.
@18rollinhard5 ай бұрын
Exactly. It was a wealth transfer initiative to shift money from the middle class to the upper class and ultimately power
@darbyohara5 ай бұрын
Dave Smith spoke about the history of Palestine in this episode which was conveniently not shown on KZhead in short form. Thanks JRE!
@ssssuupppp5 ай бұрын
This exact scenario happened in Lebanon just a few years ago. People have 'money' in the banks, but they're not allowed to access it. It's also happened in China, Ghana and Sri Lanka.
@user-rx6sz2wh3k25 күн бұрын
Joe should get Brandon Herrera on and talk about Washington DC with him
@TheItalianoAssassino5 ай бұрын
Its finally completed:kzhead.info/sun/ZMV6ZduripuMag/bejne.html'w
@osmosisjones49125 ай бұрын
Yessss Herrera needs to be on JRE asap.
@richieschmidt62255 ай бұрын
"What does the money machine eat? It eats youth, spontaneity, life, beauty, and above all it eats creativity. It eats quality and sh*ts quantity." + "The psychotic is the guy who is just finding out what is going on." ~William S. Burroughs
@mondolilith79175 ай бұрын
My favorite American author
@headfullofacid80885 ай бұрын
AND THAT WAS WRITTEN IN 1966!!!
@CleverGirlAAH5 ай бұрын
@@CleverGirlAAH ... and there's an awful lot of psychotics around these days. The debt based system didn't start until August 15th 1971 when Nixon took the US off the gold standard.
@mondolilith79175 ай бұрын
All of this is covered multiple times by Peter Joseph for more than 10 years over many talks and videos but the resource based economics idea is the most practical look at how we live together on this planet.
@user-je3tc1nv9e5 ай бұрын
Need more Dave Smith.
@guyinoakland5 ай бұрын
Unsure if the series is still on here, but “money a debt” is a great long form, easy to understand explanation of what he’s talking about.
@jafopt5 ай бұрын
It’s good to see the general public finally come around to Austrian economics
@user-qu2nj5pw7v5 ай бұрын
Two rich guys on a Pod is not the general public.
@jonasy86215 ай бұрын
@@jonasy8621 does adding "rich" change some facts in this video? joe rogan's following is basically a small country
@jjsfourthphone67595 ай бұрын
I love see guys younger than me trying to figure it out. Hilarious shit. I was there. "Ah ha moments" are worth living long. Duuuur
@user-ru9gf7ky2y5 ай бұрын
This is happening here in Canada too!🇨🇦
@furryfurnace96014 ай бұрын
I always enjoyed Dave Smith as a guest on JRE, he's so great to listen to
@d1want345 ай бұрын
So the USA should miss out on advancement in finances because you and Rogan are too lazy to learn basic economics? Strange times. Russia might have actually destroyed America with memes
@jakeroper10965 ай бұрын
Dave on JRE always makes me feel like someone out there understands my political beliefs
@mattjamesofc5 ай бұрын
Yup, Dave is what 80% of the countries political beliefs ACTUALLY are
@bryceandcarter61395 ай бұрын
You’re not alone, brother. Makes my whole week when he’s on JRE.
@SeiyaSoiya-un4jj5 ай бұрын
His interpretation is silly. Nothing of what he said is secret and are the rules of the game for a long time now. The participation in the system is voluntary. If someone does not like it, they can renounce their citizenship and leave. The system is a group of people who get together and decide to cooperate with some rules in a certain territory. Each territory (country) has their own rules, and the territories without sovereignty have no rules (as living in a platform in the middle of the ocean). All is voluntary
@cristianproust5 ай бұрын
@@cristianproust This is a silly interpretation. He’s not saying it’s secret, he’s saying that people aren’t aware of what’s actually happening to their money. It’s a confusing system, but it’s confusing by design. It’s not voluntary if you aren’t aware of what’s happening and are met with forced compliance if you do. You never countered any of his points, and just babbled off nonsense that isn’t even true. This “territory” was made and founded to make and insure all these insidious acts were punished and held accountable for. This is all entirely involuntary by definition
@peepeepoopoo27495 ай бұрын
@@peepeepoopoo2749 Saying is not secret it means that is public, and that if people don't understand it is because they don't like to learn anything. It is not confusing, it is pretty easy to understand, you just heard it in a video. The problem as usual: laziness. People retain in their memory the explanation of when they were 10 years old of what a bank is. The indignation should be self-addressed, because most adults don't really care about learning anything and just complain about not knowing. All this I heard it in school (most people don't remember because they were not paying attention), and if anybody is curious there is the Internet. It is pretty silly that people's ignorance is portraited as someone else's fault but theirs
@cristianproust5 ай бұрын
“A house of cards”. Spot on. Storms coming. And you can say “oh, they been saying that for years” yes they have and the storm always hits.
@headspaceandtiming21144 ай бұрын
I have never heard it put like that. But that was a pretty good video.
@MrInjun3825 ай бұрын
The worst part about it is that it’s just getting worse even though we know that we’re getting screwed
@EEZYEEEE5 ай бұрын
Dave Smith is always an AWESOME guest. Love the episodes with him.
@BanksOwnUs5 ай бұрын
My favourite episodes, the man knows how to explain things in a way that everyone can understand and he does it in such a humorous way
@pamukpicker5 ай бұрын
100% Dave is by far my favorite guest Joe has on regularly.
@jedimind_795 ай бұрын
Wish I had a neighbor like him
@odochartaighofodonegal23515 ай бұрын
@@odochartaighofodonegal2351 He was my neighbor in 2004. All he did was smoke blunts on the stoop with some Louis guy
@CantTellYou5 ай бұрын
This guy has no idea what he's talking about 95% of the time. He thinks he's way more intelligent than he is.
@HarryManback05 ай бұрын
this type of thing is very common. most systems are designed around a 'design factor'. meaning they never expect to see the system utilized at 100%, or even close. i work in the electrical field. if you were to demand past a certain percentage of the demand factor, you will start to trip circuit breakers. and it actually happened during the freeze of 2021. the stock market has what they call circuit breakers too, and they shut down the system before a catastrophe occurs. now, the real questions is, do we learn anything from when we experience a tripped circuit breaker? no.
@ivanramirez88285 ай бұрын
12 minute bitcoin ad, nice 👍🏼
@MikeStillUK5 ай бұрын
This guy is describing how a Corporate Oligarchy works, and we're being drained dry by it. 😢
@TheGiggleMasterP5 ай бұрын
Nope, just how explaining the reality of the state.
@daltonbrasier54915 ай бұрын
No this is the government. The corporations are benefactors. The state creates and maintains this secret monopoly. The state owns the money supply and the interest rates. There is no free market.
@johncampanella6225 ай бұрын
And the government is part of the corporation
@defertyx5 ай бұрын
Egregious non compete clauses as well!
@MrNiceGuy5005 ай бұрын
@@daltonbrasier5491 sure large corporations built our nation, and it was great, until they became larger than the state, sent the factories off shore, taking away jobs for the middle class, and started paying, or promising elected officials jobs once they were out of office, as long as they voted for whatever helped said corporation, at that point, it no longer helps the people, only the Govt. which creates a corporatocracy. funded mainly whithin the war machine, which is not good for the nation as a whole, but that is the reality of the state.
@corrob5 ай бұрын
Nice Splaining Dave: Trading Places is the most realistic Christmas/Wall Street movie imo!✌🏼😊🇺🇸
@brandonb50755 ай бұрын
Peter Joseph explained the fractional reserve banking system in the 2008 documentary, Zeitgeist Addendum. I highly recommend it.
@SocietyNeedsImprovement5 ай бұрын
The Zeitgeist of Yes appendix includes in-depth studies of existing monetary systems, banking systems, and global economic issues. Do you look at digital currencies?
@BriannaRubino-xy7mc5 ай бұрын
Bless this man
@z6li225 ай бұрын
That 10% reserve requirement was eliminated with Covid and hasn’t come back. There is currently NO reserve requirement for banks to operate in the US.
@Haveapowday5 ай бұрын
BUY BITCOIN BROTHER
@69pepe4205 ай бұрын
exactly, so he kinda needs to catch up to open his big mouth, because he is several years behind. sounds like JR is bought out and is running propaganda for all the economically illiterate.
@sup84475 ай бұрын
What does that mean though?
@TheMidnightModder5 ай бұрын
@@TheMidnightModder well means when the banks fail, FDIC can't, isn't, won't, not possible to cover your little bank losses. So everyone is gonna be super F@CKED.
@sup84475 ай бұрын
Learn about bitcoin first. Those 75% draw-downs are not easy. HODL on Brother!@@69pepe420
@warrenb28565 ай бұрын
I always appreciate these conversations on the Joe's podcast especially, if it's about hyper-inflation that damages the world we're living in. Unfortunately, whatever happens in the belic conflicts can affect our economies as we're immersed into a globalized world.
@sebastianalegria34015 ай бұрын
The federal reserve will go on and you will like it. Just because you are too lazy to learn something doesn’t mean the USA should suffer.
@jakeroper10965 ай бұрын
I walk up to a baking teller all the time! I enjoy the process. Hate machines!
@theambiguoustruth81675 ай бұрын
Technically increasing the money supply increases credit. So things get more expensive but there are also a lot more of them, and wages increase. But even that is gone since credit is now mostly for consumption, i.e credit cards, consumer loans etc...
@anassbellachehab98215 ай бұрын
this guy summed it up nicely! friends and family dont believe me when i tell them “saving” their money is an awful idea, your dollar is being devalued so much, so fast, the laymen has no idea
@anonymoustoo49455 ай бұрын
Depressing… we need to flip the tables like germany did, but look how the banks painted that one…
@Aluttuh5 ай бұрын
@@AluttuhHello, based department?
@SogonD.Zunatsu5 ай бұрын
@@AluttuhTo the degree I have skepticism about the dubbya dubbya two narrative, that's exactly what I sorta suspect, given that the Allies supposedly secretly made up money from nothing for part one when nobody would buy war bonds or wanted to go fight. Then after killing millions of (often their own) people needlessly in trenches, they dumped the debt for all the made up money on Charles Chapins peeps, which they only paid off in the last decade a century later. They are still paying off part 2 though I hear. Maybe that takes a century too. Slavery indeed.
@TheJeremyKentBGross5 ай бұрын
@@TheJeremyKentBGross that is all imteresting … what ive learned the last 8 years or so is all money is fake, esp now because it is backed by nothing. fiat = fake … i have spent the last two years buying crypto (BTC is def a safe long play) … if you have some cash and want to get rich in 2024-25 .. invest in crypto gaming! my source: trust me bro …. and the thousands of hours i have done in research
@anonymoustoo49455 ай бұрын
The bank is actually borrowing the money from you. Never thought of it that way. Dave is great!
@lakersraiders8055 ай бұрын
Lakers - When you put money in a bank you are essentially giving them an unsecured load. (read: UNsecured) That means the bank pays everyone else first. YOU get paid LAST. Spend some time thinking about that.
@skippylippy5475 ай бұрын
Not only from us but from our/the future.
@brusselsprout58515 ай бұрын
debt is money, that's how the dollar has it's value BIDEN printed 24% of the entire economy and only got a 5% GAIN on GDP the 5% doesn't even count because they stopped counting gas, energy, food and rent in the CPI inflation rate which is subtracted from gains(deflator) so paying more for eggs doesn't show up as growth. they are using core inflation as the deflator.
@ihatecrackhead5 ай бұрын
@@skippylippy547 From the FDIC "By law, after insured depositors are paid, uninsured depositors are paid next, followed by general creditors and then stockholders. In most cases, general creditors and stockholders realize little or no recovery. " Depositors get paid first.
@stephensmith65995 ай бұрын
banks don't need your money, its just cheaper for them the loan it out. Banks can extend as much credit as they want. If they believe a loan will be profitable, they will issue credit.
@automateeverything23415 ай бұрын
11:50 Dave: finishes this elaborate explanation of the corrupt banking systems Joe: *CELLPHONES*
@McKraber5 ай бұрын
“Money as debt” is a great Canadian documentary here on KZhead that explains fractional reserve banking
@realityreconsidered94165 ай бұрын
Yes, watching Money Is Debt is a great way to learn more about fractional reserve banking and its impact. Do you like this reform?
@BriannaRubino-xy7mc5 ай бұрын
Also The Money Masters and The Secret of OZ by Bill Still...
@ClassicJukeboxBand5 ай бұрын
Dave smith is one of my favourite guests
@Steveb72815 ай бұрын
This is my favorite guy on JRE every single time he is on
@GlobalRevolution4All5 ай бұрын
In terms of banking, this is why I have burner cash in times when the bank decides not to give me money. Always have cash on hand at least $1-2k.
@GabrielMartinez-sd8pc5 ай бұрын
Given the uncertain economic conditions and heightened global tensions, I'm considering investing over $400k in stocks. However, I'm uncertain about how to minimize potential risks.
@Mr-sweeny2 ай бұрын
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
@Dannyholt332 ай бұрын
Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
@PatrickLloyd-2 ай бұрын
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
@mikeroper3532 ай бұрын
“Melissa Rose Francks” is the licensed fiduciary I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
@PatrickLloyd-2 ай бұрын
I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.
@mikeroper3532 ай бұрын
Loud it! Thank you for saying this and putting this information out there. Hopefully people listen and start to wake up
@ovoj5 ай бұрын
Dave explained fractional reserve for banking better than anyone I've heard before.
@marymacdonald23795 ай бұрын
I love eating gorditas during cub games but my gas is keeping me from buying white underwear.
@RebekahForbes-jf5nh5 ай бұрын
No.. he explained a ponzi scheme. now you are earning 7-8% interest on moneys that do not exist.
@highlanderc5 ай бұрын
robert breedlove says it better
@LiveWatched5 ай бұрын
I agree and he still stumbled over the dumbfounding complexties
@michaelsmith97145 ай бұрын
Bill Still and Paul Grignon explain it better...
@ClassicJukeboxBand5 ай бұрын
I am still amazed at how little people know about Fractional Reserve Banking. And how few people are interested in delving to get a return on your money (interest of our time). In my opinion, it is the biggest scam of our time, next to VAT.
@MsDream1235 ай бұрын
Dave’s conversation about the Israel Palestine conflict and the history of the Nakba wasn’t uploaded to KZhead. I really wish it had
@Hummingbird255 ай бұрын
Tried to explain this to someone one time and we nearly came to blows. In a cash only society if I have 1000 in my pocket I can buy with the confidence of that 1000 behind me. I.e spending 100 not worrying about it. But if I have that 1000 in the bank as bank credit, I still feel like I have 1000 dollars behind me and the bank actually has it spent already! Effectively atleast doubling the feeling of value for the same 1000. It's crazy, and explains exactly why every government wants us to go cashless.
@billbobby4615 ай бұрын
Do you like driving on paved roads? What about having clean water and working sewer systems, do you like those too? When it snows, do you like plows to clear the roads? Well, fractional reserve lending is what makes it possible. If you dont like those things, feel free to stop using them and go live off the grid somewhere.
@id10t985 ай бұрын
Crazier yet is that we will be asking to go cashless in response to hyperinflation caused by those who will wholly control the next currency.
@brosephbroheim64285 ай бұрын
@@id10t98 Please elaborate. If Nixon took us off of the gold standard, are you saying we didn't have any of those things before he did that (before fractional reserve banking?)
@jameswalker5905 ай бұрын
@@id10t98you can stick fractional reserves lending up your ar5e. It works for certain people, not all. There is definitely a more fair system out there, but the elite like what they have.
@pooga52485 ай бұрын
@@id10t98What does your comment have to do with the OP?
@mandyp23205 ай бұрын
Dave Smith is probably Joe's best recurring guest.
@k.k82915 ай бұрын
Him or Duncan Trussell.
@kevynlemoing82085 ай бұрын
@@kevynlemoing8208no
@OscarOffTheCuff5 ай бұрын
100%
@cspdx115 ай бұрын
To each their own, but he's one of the most aggressively ignorant guests to ever go on JRE. Each time. But again, to each their own 👍🏼
@Squibtorious5 ай бұрын
@@Squibtoriousyea he says things with such conviction but isn’t right about 90% of it
@bobbys19845 ай бұрын
This is why I bought a house. I knew a dozen years later rents would double but my mortgage would stay relatively the same. I’m past the dozen years later and I was correct.
@pbetftdi5 ай бұрын
Ron Paul taught me this in 2008. I’m glad the message is being spread
@dangeles952 ай бұрын
Wow. Such a revelation. Fractional banking explained so beautifully.
@karthikc3265 ай бұрын
It is a wonderful life that he was thinking about. It’s about fractional banking. Kind of a cool part of the movie that it talks about more than you think.
@jonatho855 ай бұрын
This def happened to me at BOA, i went in to take out 10k to buy a new car and they told me "they didn't have it" like oh hellll nawwww. now I keep very little in the bank
@73musicmatch2 ай бұрын
The hidden secrets of money series was a good watch.
Everyone’s been preaching investing lately as a source of passive income but with a 70 hour weekly jobs and limited knowledge of financial instruments, how can I actually stay on top of things, I see every KZhead video saying BUY BUY! But when and how do I sell for profit at the right time?
It may be a good idea to speak with a financial advisor who can help you develop a portfolio based on your individual goals and risk tolerance.
Partnering with a financial advisor has transformed my approach to investing. Their expertise and personalized guidance have not only helped me navigate complex financial markets but also optimized my portfolio to achieve my long-term goals efficiently.
Your advisor seems competent. Could you share how I can reach out to them? I've recently sold some property and am interested in investing in stocks, and I'm seeking guidance.
Jennifer Leigh Hickman is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
I learned this in like 2015. I’ve educated myself little more since then. But I saved a little money to purchase a car. Went to my bank (local credit union) and requested to take 11k out . They told me no. I was freaking pissed. Eventually a manager came out and allowed me to take the money out , but I was dumbfounded they even told me no to begin with.
Yeah.. banks are a mega corp and need to make money - which is fucking retarded
People are supposed to just,give you money when you ask for it?
Went to take out a home loan with high credit and a 10% payment for 200k house. I was told no I dont earn enough meanwhile my rent is higher than the mortgage. It’s messed up.
Do you use a credit union? If not I believe they are a little more generous than "for profit" banks
When it's his money, in their safe.. Yeah, of course
I talked to my coworkers a month ago, bringing up almost every point Dave brought up + how income tax was introduced. People looked at me on the call like I was speaking Swahili... I think the financial system is so unbelievably corrupted people simply don't believe it when you tell them. They think you don't know what you're talking about, its extremely frustrating.
A lion doesn’t concern itself with the opinion of sheep. You can’t help everyone. Focus on who will listen.
A wise man can see knowledge clearly, and unintelligent man says they know knowledge but can not say
You need new friends. Literally no man I talk to doesn't understand this stuff. The problem is we can do nothing about it at the moment.
Position yourself to take advantage, use people’s nativity to your own advantage and let them cry poor to you later
People in general are just oblivious. I keep telling people that we are paying too much in taxes and that our lives would be a little better if we cut our government and lower taxes for landlords, builders and maintenance. That way there will be more competition and rent will cost less than 1000 or 2000 a month. But most people don't take this seriously or just don't want to talk about it at all.
I'd like to see joe rogan put on more of this kind of content (economics, banking system, current prices, inflation...etc) the world is too expensive right now, and it would be nice to talk and educate people about it
More loony reichwingers that have no idea how currency is created?
No one walks up to a teller anymore? Reality check my guy
@@harrym9655its not price gouging if they have to spend much more on everything including employing a lot or people
yeah what better way to learn about serious topics than from an alchie comedian with a Wikipedia education
Joe Rogan for economics and financial advice and education LOLLL
When Soviet Union collapsed, my parents and all other Eastern European had all their money on savings account all their life savings. When hyperinflation hit the country, all of their accounts were frozen, no money was given out and everyone lost all of their life savings. It was given out when a lighter was now more expensive than a car. This is how all Eastern Europeans became broke in 1990s and until now many people keep their savings in 6 different banks, some offshore, avoiding loans and debt or keeping money under the mattress… Ironically everyone who wanted to be a millionaire, they all achieved that goal! They got me a Nintendo for $50 Million Rubles I remember.
Most Asian third-world countries also experienced this in the 1990s. The bank closed, and they converted your dollars into worthless currency. You're better off putting money (dollars) under the mattress. I've never trusted banks and have always diversified my assets.
My grandfather had enough money saved to buy an apartment before the fall of the regime. They had enough to buy a washing machine after.
Same as SA in 1994 and Greece in 2008. $80 a day. Sex you and the leaderships bs.
Sounds like a Bitcoin advertisement to me.
Even if you had it in a mattress it would be worthless hence Venezuela. Gold and bitcoin is the way
FUN FACT: On March 26, 2020, the 10% and 3% required reserve ratios against net transaction deposits were reduced to 0% for all banks, essentially removing the reserve requirements altogether. It was replaced with Interest on Reserve Balances (IORB), or interest paid on reserves the banks hold as an incentive rather than a requirement -- Rate on Reserve Balances (IORB rate) 5.40% as of 7/27/2023
Mize well be Japanese that your speaking .
And this is why the banks get away with doing it, because 99% of people haven’t a clue whats going on or how to figure it out!
@@TheRealRonRico317that's part of the problem. They don't teach this in public schools.
What does that mean?
@@Bob-lr2xp It means that banks dont have to hold any of your cash. They take it and invest, purchase, and lend it out in order to make returns on money that they don't even own. IORB is what they pay banks to incentivize them to hold cash, just in case.
I wish Dave smith would make a book explaining things so everyone could understand. I would immediately buy that book.
No need. The information is already out there in easy to digest formats. People don't want to learn 🤷🏻♂️
Check out Mises institute. Rothbard wrote probably the most famous book on the subject "what has goverment done with our money" Per Bylund has written newer ones on the subject.
Have you heard of the Monster on Jekyll Island?
Ron Paul already explained this in a book
There are a ton of books on the history of money and the significance of the gold standard
I tried taking out $800 from a checking account from my previous bank (Old National Bank) and I was declined. I was using this money to purchase a firearm for home/family defense and also to protect myself from this corrupt government. It was almost ironic in a way that this happened.
Did you have 800 dollars?
@@rastamoto What he's saying is that some financial institutions were denying withdrawals, even when people had the money in their accounts.
@@scratchpenny not that small amount. When you ask to take out 5 figures, I’ve been told I need to order it in. Took a couple of days. Banks aren’t denying $800 bucks.
@@rastamoto Yes, but Old National Bank has a history of this behavior, having many excuses for denying the withdrawal. Look at their consumer reporting history - it's atrocious. I am not saying there wasn't a legitimate reason for the OP, but it's not as uncommon as people think with some of these shadier banks.
I am calling bullshit.
What frustrates me is that we know the system is broken, yet we do nothing to fix it. We just sit around and complain about it. The conversation Joe and Dave are having could have occurred 40 years ago and nothing has changed.
The govt doesnt want you to fix it, the riots in every major US city in 2020 were for the party that tries to make the system biggger
You know that he almost ran for president now. Maybe next time.
buy bitcoin and hold in cold reserves
The system is not broken, it works perfectly as intended. That's why it never changes.
You must realize the big pigs on top DONT want the system to be fixed
"The goal of a debt based economy is to not get caught stealing... the only way to not get caught is if the people allow them to go to a cashless system. If they can't go to a cashless system eventually the economy will crash and they will get caught." ~Bill Cooper (around the late 90's)
Cooper*
@@RonSlinker-dt7vr Thanks for the correction Ron!
Another reason they want CBDCs.
@@makkrowmazztikk7003 bingo! They've kicked the can as far down the road as possible... either they're about to get caught... or we're in for several generations of sheer hell!
Explains why they are pushing so hard and fast for CBDCs. They know the system is about to fail, so time to switch to another scam, or they go down.
Dave! Bang on! I'm sharing this clip with my peeps right now!
Very well explained... especially the very important fact your bank account holds not your money, but your loan to the bank.
I was a delegate for Ron Paul in the Republican primaries in 2012 so when I hear him brought up it makes me happy.
You did good work, sir. I did all I could for him as well knowing full well the establishment, their media propaganda and even his own party was trying to stop him.
You're one of the crazies, huh?
I wish Ron could've gotten that 10% flat income tax passed into law. Of course it was never going to get voted in, because it made too much sense!
@@erikc3057 Ron Paul's main message was eliminating the control of central banking and fiat money over the people. A minimum IQ is required to even understand that issue. Most fall below that minimum.
Wasn’t Ron Paul a puppet ?
the fact that almost every adult knows these things and nothing changes is what is scary...
💯
Exactly shows how much the rich control everything
I agree! The only thing that I know to do is to keep my money at home and vote republican . Every system is so corrupt I don’t know what else I could possibly do.
They all think one day they will become part of the wealthy so they just go along with it and try to play the game like the rest who sold their souls
I'd wager that 9 out of 10 adults have no knowledge or understanding of any of this.
thumbs up for bringing dave smith! I listen to JRE in hopes he keeps in bringing people like Dave smith who reads history, facts, and research before coming and talking in here.
Dave Smith is has down one of Joe Rogan’s best guest. So informative.
He is a smart guy who figured out he can get attention by pointing at complex money and screaming “sCaM”. I literally see nothing wrong with the federal reserve, it’s not impossible for the layman to understand. Please don’t make me exercise my 2nd rights to defend our incredible America from your ideas.
If you appreciate a pile of bullsbit smothered in lies
@@jakeroper1096 you dont think anything is wrong with it because it either works in your favour or you can't do maths.
@@Sexyoldgeraldorivera that must be what people sell you after the line “they don’t want you to know this..” People who hold gold or gold mining shares would make a killing off of the destruction of the FR… I’m confident you’re smart enough to figure out the grift.
It is odd that luxury items like TVs and computers and video game systems do get cheaper over time but food and water and things we need to survive get higher and higher.
There's a LOT more to that than meets the eye. Who controls commodity pricing? (you need to get rid of your gas stoves, you need to travel less, you need to eat bugs instead of meat, you need to use less carbon, you need to move into high density housing in 15 minute cities, your farms produce too much nitrogen, etc etc . you'll own nothing and be happy)
@@skippylippy547 Commodities are used in electronics and yet electronics still get cheaper!
NEVER STOP HAVING DAVE SMITH ON. Man is a national treasure
I AINT NEVA GONNA STOP LISTENING TO DAVE SMITH
All he does is just complain how bad the US is. Like if the US is so bad then leave to somewhere where it’s utopia
@@rayjimenez3309 How about trying to change it.
@@rayjimenez3309 idk if explaining issues is “complaining” but yes he should move to a non-existent place
@@CantTellYoumAll he does is highlight every single negative thing about the US. Never heard this guy say anything positive about the country that allows him exercise his 1st amendment rights. No one’s said the US is perfect but bet your ass is the best out there. Was frustrated is that someone who may not be verse in geopolitics will listen to this guys and believe the United State is this big bad evil empire.
This should be a mandatory video everyone has to watch.
I gotta say I've been really impressed by Dave from watching him on these podcasts!
No one brings up Ron Paul anymore. He was the last great true statesman. Glad he discussed him and the currency issues in detail.
Joe definitely needs to bring Paul in. I'm not a libertarian but have immense respect for his positions and battles against the political establishment.
Other than Dave, Vivek Ramaswamy considered himself a Ron Paul "superfan" when he ran for president over a decade ago. Others such as Tim Pool and Luke Rudkowski (wearechange) have been inspired by Dr. Paul as well.
I worked for Dr. Paul's campaign in 2012. I haven't voted since the Republicans screwed him at the convention. Both political parties are criminal gangs. 2 edges of the same corrupt sword.
@@EJGallagher-de8ji I don’t know Tim Pool has been pretty hawkish lately. He doesn’t seem to have the best grasp on US foreign policy over the last 30 years
When he was running at the time, they called him too old .....🤦♂️. He's healthier than our current president. He was a doctor, he is fiscally responsible, and wanted to audit the fed. He got screwed.
I was just thinking "After Tim Kennedy, Rogan needs to bring on Dave Smith for a different opinion on Israel and Gaza" Smith and Glenn Greenwald have been on point on this topic.
The problem is Dave smith only starts the history of Israel Palestine at 1948 when it goes further back than that
Dave dropped the ball at one point. Joe wanted more information on the West Bank. Dave gave next to nothing. There are plenty of viral videos of what is going on in the West Bank that completely makes Tim Kennedy's argument against Palestinians look either ignorant or just plain dumb. Armed Zionist illegal settlers and illegally occupying Israeli troops are literally terrorizing unarmed natives of the West Bank. There is no armed militia resistance in the West Bank for Israel to play the "defense" card.
No they haven't because they've given no solution for Israel to protect itself in the future, and a ceasefire would only allow Hamas to reestablish themselves again and commit more attacks for which they've already vowed they'll do. You can argue all you want who's land was who's, but that doesn't give anyone the right to massacre innocent civilians 70 years later. You can say Israel has killed Palestinians too, but it's pretty easy to see that one side kills deliberately and target's civilians while the other sides deaths are casualties of war. Israel doesn't attack unless first attacked upon first. They give warning to Palestinians before they bomb. It's not their fault Hamas, the elected leadership group hides its weapons and HQ in heavily populated areas and then puts its citizens in front of them as human shields. By the way, one thing that wasn't brought up in this interview is that 70% of Palestinians polled supported the attack on Jews on October 7th. So if your going to suggest Palestinians are innocent peace loving people that poll proves otherwise.
problem is you care about the mandates of the defunct ottoman empire. losing wars has consequences@@aaronkelly3035
dave thinks hes smart but knows nothing
This is a fantastic video, you are absolutely correct.
dave smith is my guy finally someone who thinks just like me. i thought i was an idiot for so many years. id bring up stuff like this back in like 2010 to people and they called me the crazy one, i was the bad guy for even thinking stuff like this. now its all coming out
So happy to see Dave on again. Need him every few months at least.
Why?
@@DogmenHardcastle Cause
People actually like this guy?
@@jdan35 I don't think so, there must be some other reason. I'm still confused.
ga yy
Damn this guy nailed it! This system is complete BS and we all just buy right into it.
a gold standard for any nation's currency is a joke and could never happen again, that's why every nation has deserted it.
We're really much born into it. The name on your birth certificate is the name of your living corporation. That's why we get taxed heavily. Edit: so when we die, we become a corpse.
Not all of us. Only stupid people.
@@id10t98it kept the govt in check and accountable. Definitely not a joke.
@@highplainsdrifter6577oh yeah a lot of checks on the government when they are the ones that took us off that gold standard
This was a great bit in podcast...that how basically banks works in a nutshell...and the illusion that they hold your money and how banks system collapse, gambling our monthly salary for more interest and greed. Its a wonderful life was a great movie but i never looked it form financial POV JR and Dave smith are the best.
Almost correct. Since covid, there is a 0% reserve requirement. They have done away with the fractional reserve system.
Dave Smith episodes are the best. It always seems the most level headed individuals with collective interest in mind, would never become politicians.
Dave talks about things with such conviction but is incorrect about 90% of what he says😊
@bobbys1984 so is Joe... Reindeer eating yellow snow to get mushroom metabolites from shamens was my favorite.
disagree, Joe Rogan all episodes are the best. Dave smith claimed NO americans are pro putin, he should know better than to say that lol, joe corrected him with the MMA traitor being pro putin.... dave shouldve known this, and also steven seagal is pro putin... ;/
You think the best JRE's are with Dave Smith. The best are Protect our Parks. Dave Smith is bottom 5 imo.
@@spicymustardhotdogs394 its all objective, some like political/science/world view talk, others like drunken comedic rowdiness, i enjoy both.
There has never been a single fiat currency in history to survive long term. Ever.
Jackaroo. True. So what are you investing in these days besides gold and silver?
literally everything is fiat because something is only worth what someone else is willing to pay for it... Moron.
Everystein singleberg timeowitz
Excellent video of the fractional reserve system.
This guy is one of my favorites on Joe's podcast
The cell phone signal analogy at the end is super awesome please clip that and make it go viral.
you do it
Clipseption
Dave Smith is both fascinating and scary to listen to. God bless him.
Fractional reserve banking system is a superior monetary system, especially compared to the gold standard, for one simple reason: credit is always going to be cheaper in fiat rather than gold. That's why every single country adopted it. Money do not exist for you to store in your mattress, they exist to make investment accessible to everyone. If you want to save go open a savings account.
He’s right on his analysis yet very weak on how to change things. He’s afraid of guns which is a position no libertarian can really have if they want change or to defend their ideas
@@decentralizeddemocracy8335 F-ck off with that lie, because that's exactly what it is, an establishment lie. It's the worst monetary system, Fiat Currencies and Fractional Reserve have the worst track record compared to a multitude of actual monies being exchanged in a non-corporate banking market and continue to have such even after what, 3 or 4 THOUSAND YEARS OF MAKING THEM?!! Nah, the claim it's the best system is the damnedest of lies and it always will be. You just appealed to majority, henceforth, it's not valid, so quit being fallacious. Those who are for freedom of banking call fractional reserve a fraud, the reason is very simple. If you hand a loan out to person A, they use it and start paying you back, plus interest, the moment you make another loan and use person A's debt notes as the currency to loan say 10 times over, you make the purchasing power signal of each dollar sign TEN TIMES WEAKER BY FRACTIONATING IT DOWN TEN TIMES.... "Money do not exist for you to store in your mattress, they exist to make investment accessible to everyone" no, that's empty commie rhetoric, governments wanted more control over stuff, that's why they adopted central banking and fractional reserve. Six core functions of monies are: 1. Mediums of exchange based on commodities and assets 2. Stores of value 3. To make purchases and trades easier 4. Holding reserves for future payments. 5. A standard of deferred payments. 6. RELIABLES UNIT OF ACCOUNTING Monies should exist to be mere mediums of exchange, but we don't have monies, we have CURRENCIES. "If you want to save go open a savings account." is not a valid argument either.
@@decentralizeddemocracy8335you don’t need credit when your currency has real value. When you aren’t trying centrally plan the economy, prices are allowed to drop and you won’t have to deal with constant rising inflation
@@darbyoharaare you suggesting a revolution or something?
Joe and Dave really hit the nail on the head, I have never bought into the modern money theory and certainly never believe any company is too big to fail.
The topic they are talking about is super important for everyone to know.
Dave is such a fantastic guest. Always always always listen to the full episodes.
Agree!
like Dave, he a good comedian.....but he isnt very smart lmao.
Agree one of the best
Libertarians are the worst
Whats crazy is that you people are NOT discussing whats really important here. Instead, you people are just chirping "he is a great guest". Nothing will change in this country. Even when the evidence is presented in front of you, you do nothing. You say nothing. Sad.
Dave Smith dropping knowledge as always!!!
Its finally completed:kzhead.info/sun/ZMV6ZduripuMaq8/bejne.html
conservatives pretending to care about the size of government when their guy isn't in office.
He’s Knowledgeable if you’re a child. This libertarian nonsense sounds good to naive, uninformed people. 😂 laughable.
@Arthur-Silva The problem is, most kids are graduating high-school without knowing how our money supply works.
@@Arthur-SilvaI know right. Listening to this guy talking about Nixon taking off gold standard, make me want to jump off a cliff. Also, this guy has no idea how fractional banking reserve is the single greatest wealth creation system imaginable. This libertarian bs only feels good to any one that’s illiterate.
This very video should be in every news broadcast. The rabbit hole goes alot deeper but the initial shock is more than enough to wake some sheeps up
My country uses the same banking system but the difference is I learned about it when I was about to open my "adult" bank account, because I got confused by the explanation and asked. I think the difference between the US and other western countries is in the informing the customers. Same as data roaming.
Dave Smith does such a great job of accurately reflecting Libertarian principles and logic, in my opinion.
What does it matter if no action is put behind the words
@@Is-there_a-ChristianGodwhat is he supposed to do? He can’t make people vote in their best interests. All he can do is inform people about the truth.
@@jetorixjones the ppl is to stoopid as a collective
@@Is-there_a-ChristianGod are you gonna vote for his option? or will you criticize something you feel doesn't exist ? Make it happen.
@@lovelife1867 I don’t vote they say the definition of insanity is repeating the same thing over and over again excepting a different result. 3 things I’ve learned In my life time. 1) never seen one president do a damn thing in the interest of the ppl. 2)And anybody that’s for the greater good end up unalived. 3) don’t be offended but if white ppl involved with power. It’s a secret, some agenda, and it never turn out good. This shit is stuck on wash rinse repeat. It sound good.
This is the most important discussion on Rogans podcast in a very long time. These truth bombs are essential to waking people from their trances.
So you say you're awake? What are you doing about it all? You still service your debt? Pay your taxes? Vote? Just curious what one who is awake does to correct the issue of blatant corruption while accusing those asleep of being the problem.
@troyrager1352 I understand what you’re saying but they’re not wrong, the more people who realize what’s going on the more likely something will be done about it. But on the other hand you’re not really wrong either, I grew up Christian and would always see people in church talk about “spreading the word of God” but never actually go help homeless people (you know, like Jesus himself has been said to have done). So I do think that if someone is “awake” and don’t do anything about the problem, then that honestly makes them worse than the people who are “asleep”.
This whole free market argument is no longer totally true. It used to be that if a company made bad investments or business decisions there was an apparatus to resolve it. They would declare bankruptcy and once liquidated the prefered stockholders would get paid first, then the common stockholders would get anything that was left. Bond holders were left holding the bag. But now we have "to big to fail" and when they get things right they privatize the profits, and when they get things wrong, they socialize the losses. But I agree with the rest of your argument.
I think Dave would agree with your completely. We’re not in a free market at all and many of these massive corporations would go out of business if they weren’t in bed with the federal government.
Amazing points brought up by Dave. This is how you get things like the student loan crisis, healthcare costs ballooning out of control, real estate bubble, stock market bubble, and especially the military industrial complex. The supply and demand for fiat currency is unique in that demand is inelastic regardless of how much money is created because you need more of that ever-expanding supply to be able to pay bills and live your life. This applies to people on the basis of being citizens, consumers, and taxpayers. Inflation just means the expansion of a monetary supply.
They don’t lend out demand deposits. They are allowed to create 90% of additional credit. Simply means: bank creates a new loan (asset) and new demand deposit (liability). They only need to keep a reserve ratio in line with federal requirements. And even then, they can borrow overnight funds from the repo market to meet reserve requirement. Also, banks take your deposits and invest them into securities to earn interest and pay you a minuscule amount on that amount
dont forget to mention banks could still lose your money and there's nothing you could really do.
That’s why you should only leave as little money as you possibly need in the bank to take care of daily expenses. And you should invest any surplus.
@@tomcat8662 then you still risk loosing your investment, also if the system crashes and you invested somewhere or into somewhat, there is still no guarantee to get the investment back unless you physical buy idk gold or whatever and keep it in your bunker
What are securities?
@@tomcat8662I have all my money in gold in a safety deposit. It's always going up with silicone demand
funny how i been learning about this for over a decade and everyone pretends like it doesn't exist until some big shows this
Then you didn't carefully observe what just happened to "everyone" in the past 3 years of the so-called pandemic? Here's what I observed: People did exactly what they were told to do. They gave up all their Constitutional rights and allowed this government to strip away every freedom they ever had. They allowed their schools to be shut down. They allowed their churches to be shut down. They allowed their businesses to be shut down. Then "everyone" got exactly as afraid as the government propaganda told them to get. Then, like sheep to the slaughter house, they lined up and took their "jabs". Were you paying attention?
See the importance of controlled media??
I live outside DC in the suburbs. I make a wrong turn and the houses are amazing. Nestled back in the woods in Annandale
It's funny that Dave states information that most people in Argentina got to learn in the hard way.
What happened there? Links?
There whole economy crashed and you couldn't get your money out and day told everyone no. Got to the extent dey had a 200dollars a week limit for withdrawal
Alexander Hamilton’s vision in full swing. Jefferson and Jackson were right!
Holy crap a reader!
We've been ruled by a den of vipers and thieves!
Its finally completed:kzhead.info/sun/ZMV6ZduZeGetpovM/bejne.html7w
“I believe that banking institutions are more dangerous to our liberties than standing armies” Thomas Jefferson
Same thing with court system. If everyone pleads not guilty it crashes. They need pleas to exist.
Only because it’s operating below capacity. If they hired more judges, and expanded they could account for more cases.
Wow wow wow -- such a nice articulation - joes show is a gold
This was more info on finances than most could handle in a lifetime. Thanks!
I love Dave Smith. Love when he's on the show!
He’s a cool dude, but man he doesn’t know what he’s talking about
Lol suddenly I'm worried about Dave Smith. He's being critical of all the exact groups it's always dangerous to be critical of 😂
@@bobbys1984said in the comments of KZhead about a Joe Rogan podcast 😂
Im surrounded by sheep. Every direction. What is the point of your podcast addiction if you do NOTHING with this knowledge? The amount of passive human beings is unreal. People used to fight for something. Used to stand for something. Now as long as they get their instant gratification daily dose, they dont mind getting fuxed up the as@ by big companies and the government. Unreal.
The Bible is truth. To understand this you must do the inner work Jesus Christ taught. It all starts with forgiveness from the heart. Start by finding the grievances we all build up with our parents. They have generally raised fed loved us to some degree. Looking inside, realizing that they are people who make mistakes too, and genuinely forgiving them everything shows an important aspect of your soul to God. Genuinely mean absolute forgiveness inside your heart. This is key. To be forgiven we must forgive. This step teaches you why Jesus Christ is lord, and why you need to break down to him and ask for forgiveness. Afterwards read Genesis, Mathew, and one book of the Bible you chose yourself. These four steps have important spiritual significance and are like milestones within our souls. Please trust me. Genuinely open your heart up to God. It is all true. Jesus Christ is the way truth and life. 😊
Look at the charts. Middle Class started shrinking from the moment in ‘71 when we went off the Gold Standard! This guy nails it!!
Middle class got much worse in 80’s when stock buybacks were legalized, and anti trust laws laxed.
Exactly. It was a wealth transfer initiative to shift money from the middle class to the upper class and ultimately power
Dave Smith spoke about the history of Palestine in this episode which was conveniently not shown on KZhead in short form. Thanks JRE!
This exact scenario happened in Lebanon just a few years ago. People have 'money' in the banks, but they're not allowed to access it. It's also happened in China, Ghana and Sri Lanka.
Joe should get Brandon Herrera on and talk about Washington DC with him
Its finally completed:kzhead.info/sun/ZMV6ZduripuMag/bejne.html'w
Yessss Herrera needs to be on JRE asap.
"What does the money machine eat? It eats youth, spontaneity, life, beauty, and above all it eats creativity. It eats quality and sh*ts quantity." + "The psychotic is the guy who is just finding out what is going on." ~William S. Burroughs
My favorite American author
AND THAT WAS WRITTEN IN 1966!!!
@@CleverGirlAAH ... and there's an awful lot of psychotics around these days. The debt based system didn't start until August 15th 1971 when Nixon took the US off the gold standard.
All of this is covered multiple times by Peter Joseph for more than 10 years over many talks and videos but the resource based economics idea is the most practical look at how we live together on this planet.
Need more Dave Smith.
Unsure if the series is still on here, but “money a debt” is a great long form, easy to understand explanation of what he’s talking about.
It’s good to see the general public finally come around to Austrian economics
Two rich guys on a Pod is not the general public.
@@jonasy8621 does adding "rich" change some facts in this video? joe rogan's following is basically a small country
I love see guys younger than me trying to figure it out. Hilarious shit. I was there. "Ah ha moments" are worth living long. Duuuur
This is happening here in Canada too!🇨🇦
I always enjoyed Dave Smith as a guest on JRE, he's so great to listen to
So the USA should miss out on advancement in finances because you and Rogan are too lazy to learn basic economics? Strange times. Russia might have actually destroyed America with memes
Dave on JRE always makes me feel like someone out there understands my political beliefs
Yup, Dave is what 80% of the countries political beliefs ACTUALLY are
You’re not alone, brother. Makes my whole week when he’s on JRE.
His interpretation is silly. Nothing of what he said is secret and are the rules of the game for a long time now. The participation in the system is voluntary. If someone does not like it, they can renounce their citizenship and leave. The system is a group of people who get together and decide to cooperate with some rules in a certain territory. Each territory (country) has their own rules, and the territories without sovereignty have no rules (as living in a platform in the middle of the ocean). All is voluntary
@@cristianproust This is a silly interpretation. He’s not saying it’s secret, he’s saying that people aren’t aware of what’s actually happening to their money. It’s a confusing system, but it’s confusing by design. It’s not voluntary if you aren’t aware of what’s happening and are met with forced compliance if you do. You never countered any of his points, and just babbled off nonsense that isn’t even true. This “territory” was made and founded to make and insure all these insidious acts were punished and held accountable for. This is all entirely involuntary by definition
@@peepeepoopoo2749 Saying is not secret it means that is public, and that if people don't understand it is because they don't like to learn anything. It is not confusing, it is pretty easy to understand, you just heard it in a video. The problem as usual: laziness. People retain in their memory the explanation of when they were 10 years old of what a bank is. The indignation should be self-addressed, because most adults don't really care about learning anything and just complain about not knowing. All this I heard it in school (most people don't remember because they were not paying attention), and if anybody is curious there is the Internet. It is pretty silly that people's ignorance is portraited as someone else's fault but theirs
“A house of cards”. Spot on. Storms coming. And you can say “oh, they been saying that for years” yes they have and the storm always hits.
I have never heard it put like that. But that was a pretty good video.
The worst part about it is that it’s just getting worse even though we know that we’re getting screwed
Dave Smith is always an AWESOME guest. Love the episodes with him.
My favourite episodes, the man knows how to explain things in a way that everyone can understand and he does it in such a humorous way
100% Dave is by far my favorite guest Joe has on regularly.
Wish I had a neighbor like him
@@odochartaighofodonegal2351 He was my neighbor in 2004. All he did was smoke blunts on the stoop with some Louis guy
This guy has no idea what he's talking about 95% of the time. He thinks he's way more intelligent than he is.
this type of thing is very common. most systems are designed around a 'design factor'. meaning they never expect to see the system utilized at 100%, or even close. i work in the electrical field. if you were to demand past a certain percentage of the demand factor, you will start to trip circuit breakers. and it actually happened during the freeze of 2021. the stock market has what they call circuit breakers too, and they shut down the system before a catastrophe occurs. now, the real questions is, do we learn anything from when we experience a tripped circuit breaker? no.
12 minute bitcoin ad, nice 👍🏼
This guy is describing how a Corporate Oligarchy works, and we're being drained dry by it. 😢
Nope, just how explaining the reality of the state.
No this is the government. The corporations are benefactors. The state creates and maintains this secret monopoly. The state owns the money supply and the interest rates. There is no free market.
And the government is part of the corporation
Egregious non compete clauses as well!
@@daltonbrasier5491 sure large corporations built our nation, and it was great, until they became larger than the state, sent the factories off shore, taking away jobs for the middle class, and started paying, or promising elected officials jobs once they were out of office, as long as they voted for whatever helped said corporation, at that point, it no longer helps the people, only the Govt. which creates a corporatocracy. funded mainly whithin the war machine, which is not good for the nation as a whole, but that is the reality of the state.
Nice Splaining Dave: Trading Places is the most realistic Christmas/Wall Street movie imo!✌🏼😊🇺🇸
Peter Joseph explained the fractional reserve banking system in the 2008 documentary, Zeitgeist Addendum. I highly recommend it.
The Zeitgeist of Yes appendix includes in-depth studies of existing monetary systems, banking systems, and global economic issues. Do you look at digital currencies?
Bless this man
That 10% reserve requirement was eliminated with Covid and hasn’t come back. There is currently NO reserve requirement for banks to operate in the US.
BUY BITCOIN BROTHER
exactly, so he kinda needs to catch up to open his big mouth, because he is several years behind. sounds like JR is bought out and is running propaganda for all the economically illiterate.
What does that mean though?
@@TheMidnightModder well means when the banks fail, FDIC can't, isn't, won't, not possible to cover your little bank losses. So everyone is gonna be super F@CKED.
Learn about bitcoin first. Those 75% draw-downs are not easy. HODL on Brother!@@69pepe420
I always appreciate these conversations on the Joe's podcast especially, if it's about hyper-inflation that damages the world we're living in. Unfortunately, whatever happens in the belic conflicts can affect our economies as we're immersed into a globalized world.
The federal reserve will go on and you will like it. Just because you are too lazy to learn something doesn’t mean the USA should suffer.
I walk up to a baking teller all the time! I enjoy the process. Hate machines!
Technically increasing the money supply increases credit. So things get more expensive but there are also a lot more of them, and wages increase. But even that is gone since credit is now mostly for consumption, i.e credit cards, consumer loans etc...
this guy summed it up nicely! friends and family dont believe me when i tell them “saving” their money is an awful idea, your dollar is being devalued so much, so fast, the laymen has no idea
Depressing… we need to flip the tables like germany did, but look how the banks painted that one…
@@AluttuhHello, based department?
@@AluttuhTo the degree I have skepticism about the dubbya dubbya two narrative, that's exactly what I sorta suspect, given that the Allies supposedly secretly made up money from nothing for part one when nobody would buy war bonds or wanted to go fight. Then after killing millions of (often their own) people needlessly in trenches, they dumped the debt for all the made up money on Charles Chapins peeps, which they only paid off in the last decade a century later. They are still paying off part 2 though I hear. Maybe that takes a century too. Slavery indeed.
@@TheJeremyKentBGross that is all imteresting … what ive learned the last 8 years or so is all money is fake, esp now because it is backed by nothing. fiat = fake … i have spent the last two years buying crypto (BTC is def a safe long play) … if you have some cash and want to get rich in 2024-25 .. invest in crypto gaming! my source: trust me bro …. and the thousands of hours i have done in research
The bank is actually borrowing the money from you. Never thought of it that way. Dave is great!
Lakers - When you put money in a bank you are essentially giving them an unsecured load. (read: UNsecured) That means the bank pays everyone else first. YOU get paid LAST. Spend some time thinking about that.
Not only from us but from our/the future.
debt is money, that's how the dollar has it's value BIDEN printed 24% of the entire economy and only got a 5% GAIN on GDP the 5% doesn't even count because they stopped counting gas, energy, food and rent in the CPI inflation rate which is subtracted from gains(deflator) so paying more for eggs doesn't show up as growth. they are using core inflation as the deflator.
@@skippylippy547 From the FDIC "By law, after insured depositors are paid, uninsured depositors are paid next, followed by general creditors and then stockholders. In most cases, general creditors and stockholders realize little or no recovery. " Depositors get paid first.
banks don't need your money, its just cheaper for them the loan it out. Banks can extend as much credit as they want. If they believe a loan will be profitable, they will issue credit.
11:50 Dave: finishes this elaborate explanation of the corrupt banking systems Joe: *CELLPHONES*
“Money as debt” is a great Canadian documentary here on KZhead that explains fractional reserve banking
Yes, watching Money Is Debt is a great way to learn more about fractional reserve banking and its impact. Do you like this reform?
Also The Money Masters and The Secret of OZ by Bill Still...
Dave smith is one of my favourite guests
This is my favorite guy on JRE every single time he is on
In terms of banking, this is why I have burner cash in times when the bank decides not to give me money. Always have cash on hand at least $1-2k.
Given the uncertain economic conditions and heightened global tensions, I'm considering investing over $400k in stocks. However, I'm uncertain about how to minimize potential risks.
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
“Melissa Rose Francks” is the licensed fiduciary I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.
Loud it! Thank you for saying this and putting this information out there. Hopefully people listen and start to wake up
Dave explained fractional reserve for banking better than anyone I've heard before.
I love eating gorditas during cub games but my gas is keeping me from buying white underwear.
No.. he explained a ponzi scheme. now you are earning 7-8% interest on moneys that do not exist.
robert breedlove says it better
I agree and he still stumbled over the dumbfounding complexties
Bill Still and Paul Grignon explain it better...
I am still amazed at how little people know about Fractional Reserve Banking. And how few people are interested in delving to get a return on your money (interest of our time). In my opinion, it is the biggest scam of our time, next to VAT.
Dave’s conversation about the Israel Palestine conflict and the history of the Nakba wasn’t uploaded to KZhead. I really wish it had
Tried to explain this to someone one time and we nearly came to blows. In a cash only society if I have 1000 in my pocket I can buy with the confidence of that 1000 behind me. I.e spending 100 not worrying about it. But if I have that 1000 in the bank as bank credit, I still feel like I have 1000 dollars behind me and the bank actually has it spent already! Effectively atleast doubling the feeling of value for the same 1000. It's crazy, and explains exactly why every government wants us to go cashless.
Do you like driving on paved roads? What about having clean water and working sewer systems, do you like those too? When it snows, do you like plows to clear the roads? Well, fractional reserve lending is what makes it possible. If you dont like those things, feel free to stop using them and go live off the grid somewhere.
Crazier yet is that we will be asking to go cashless in response to hyperinflation caused by those who will wholly control the next currency.
@@id10t98 Please elaborate. If Nixon took us off of the gold standard, are you saying we didn't have any of those things before he did that (before fractional reserve banking?)
@@id10t98you can stick fractional reserves lending up your ar5e. It works for certain people, not all. There is definitely a more fair system out there, but the elite like what they have.
@@id10t98What does your comment have to do with the OP?
Dave Smith is probably Joe's best recurring guest.
Him or Duncan Trussell.
@@kevynlemoing8208no
100%
To each their own, but he's one of the most aggressively ignorant guests to ever go on JRE. Each time. But again, to each their own 👍🏼
@@Squibtoriousyea he says things with such conviction but isn’t right about 90% of it
This is why I bought a house. I knew a dozen years later rents would double but my mortgage would stay relatively the same. I’m past the dozen years later and I was correct.
Ron Paul taught me this in 2008. I’m glad the message is being spread
Wow. Such a revelation. Fractional banking explained so beautifully.
It is a wonderful life that he was thinking about. It’s about fractional banking. Kind of a cool part of the movie that it talks about more than you think.
This def happened to me at BOA, i went in to take out 10k to buy a new car and they told me "they didn't have it" like oh hellll nawwww. now I keep very little in the bank
The hidden secrets of money series was a good watch.