In times of crisis people seek strong leaders and simple solutions. But what happens when their solutions are identical to the mistakes that caused the very crisis? ‘Overdose’ is the story of the greatest economic crisis of our age, the one that awaits us. The documentary traces the origins of the financial crisis and explores the eerie similarities with today’s situation, where states like Greece, Iceland and even the U.S. seems to be in danger of collapsing.
Among those interviewed are experts who were mocked when they predicted the current crisis. Other interviewees include Nobel laureate Vernon Smith and former US Comptroller General David Walker (I.O.U.S.A). The film is shot in the U.S., Sweden and Germany and makes extensive use of music, archive footage and graphics.
After watching this documentary. I am gonna buy gold, silver and investment grade, rare color diamonds.
Can’t wait. “Burn the rich, toast the poor.” I read that on a Tee-shirt.
Miss Megan’s full of crap. Those auto-workers, who took large cuts to their benefits and wages, had nothing to do with the greed on Wall-street. How dare they expect to be treated fairly? The banks receive trillions, AIG gets over 180 Billion, Fannie & Freddie are handed who knows how much, yet she chooses to bitch about working stiffs who might vote.
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At approximately 06:11 is that a subliminal message?
Shocking the way David M.Walker is predicting the US downgrade….
This is a very good summation of the “constant growth” delusion. The downfall of financial economics has been the persistent drive for what is termed growth but what actually is a very dangerously rampant consumerism. Strains upon natural resources from such tactics (combined with the Baby Boomer generation that fueled it) could in no way be sustainable in reality. The world of finance has never really been all that concerned with the reality of supply and demand because it has been easy to employ the smoke and mirrors of fiscal manipulation. Shortsightedness in both business and politics has deliberately sought to stave off a collapse which grows more and more ominous everyday. Now the largest demographic cohort is reaching the tipping point where they will be dependant on social security and/or retirement nest eggs … Not too sure what is going to develop out of that but it is not likely to bode well for the next several decades.
– summation
– ominous
– cohort
– bode
You try too hard to sound intelligent. It comes off as being rather contrived…
This is a very good summation of the “constant growth” delusion. The downfall of financial economics has been the persistent drive for what is termed growth but what actually is a very dangerously rampant consumerism. Strains upon natural resources from such tactics (combined with the Baby Boomer generation that fueled it) could in no way be sustainable in reality. The world of finance has never really been all that concerned with the reality of supply and demand because it has been easy to employ the smoke and mirrors of fiscal manipulation. Shortsightedness in both business and politics has deliberately sought to stave off a collapse which grows more and more ominous everyday. Now the largest demographic cohort is reaching the tipping point where they will be dependant on social security and/or retirement nest eggs … Not too sure what is going to develop out of that but it is not likely to bode well for the next several decades.
interesting stuff, where is it all going to end… whos owed all this mega debt anyway…
who else?
the foreign lenders, ie the fucking Chinese!
The narrator is a swede. I guarantee.
ummm, what was the giveaway? was it when he said “in my home country of Sweden”?
hahaha I probably commented before he said that 🙂 This was 9 months ago though.
Great Video, good stuff.
Great Video, good stuff.
good documentary but i must say that ireland is not a part of the united kingdom,and our own situation is not far away from that of greece,i’m surprised we didn’t get a mention,so my understanding is that the filmmaker has put us in with the united kingdom,and this is a bit ignorant,unfair and uneducated to be honest.other than that not enough in here about the chinese economy..
guy, no one cares about the Irish…
i live in johnstown pa(the city mentioned in this docu with the airport) its a steel mill town its been economicly dead since the mid 70s.our infrastructure is a complete mess,theres delapitated houses and buildings everywhere,its just a mess all around
to hear that all that money went into a airport that no one uses just makes me sick!
the fed reserve is a giant scheme!
fractional reserve banking should be a crime!
alan greenspan should have been sent to prision for the mess he created!
i dont get why most americans dont see whats happening eventualy the dollar isnt going to be the worlds reserve currency and then america is gonna be screwed because china is going to own us!
I agree!
Discouraging! Can someone give advice to us “little people”…should we keep the little bit of money we have in a bank? or under our mattresses??? should we continue to contribute to our 401k????
Buy gold, silver and copper.
Gold, in coinage, is a safe bet. Krugs or Sovereigns, $400 dollars each. Recongisable currency world wide, don’t devalue in financial meltdown, and since they’re made of gold don’t inflate according to normal currency, but increase due to gold being the turtle location of terrified investors. Gold.
Gold, in coinage, is a safe bet. Krugs or Sovereigns, $400 dollars each. Recongisable currency world wide, don’t devalue in financial meltdown, and since they’re made of gold don’t inflate according to normal currency, but increase due to gold being the turtle location of terrified investors. Gold.
Well I’m one of the ‘little people’ too but my advice would be:
If you don’t like the system and want a complete change keep it under your mattress.
If you want to keep the current system but just want it fixed and managed better then keep it in a bank.
Our economic system is where it is today because the banks control so much(all) of our money while operating a pyramid scheme called ‘fractional reserve banking’ which the entire pseudo-capitalist system is built on.
Although I am not certain of the exact figure right now at 10% reserve if you put $1,000,000 dollars in a U.S bank today only around $110,000 would actually be kept safe in the bank, the other $890,000 would be given out to individuals, corporations, governments, etc. as loans or used to buy assets for the banks themselves and pay ridiculously high banker salaries.
And if loans or mortgages or other financial aid packages given out by the banks default and can’t be paid back and the banks lose that money according to U.S law it is the tax-payers that have to pay the banks to cover those debts.
So they recklessly use and lose YOUR money and then take more of YOUR money to cover their debt TO YOU so that they can say they still have all of YOUR money in their banks, and turn a massive personal profit for themselves ‘taxing’ any and every money transaction they are involved in.
And the U.S government gets blamed because they implemented the policies that ‘encouraged’ the banks to give loans and mortgages to people with low ‘credit’ at high risk of defaulting with the financial backing of the government to protect them from losses(using tax-payer money).
The fact those policies were only implemented due to high powered lobby groups working on behalf of ‘banking interests’ is apparently unimportant.
It doesn’t matter if you actually have that much money as just being part of the banking/”credit”(debt) system allows the banks to make money off of you thanks to all their ‘accounting games’ and schemes.
I won’t even get started on the stupidity of governments buying money printed by private banks specifically for their country’s monetary system at ridiculously high prices(when it costs pennies to print) rather than printing the money themselves.
Anyways, if you want to keep your money in a banking system then I recommend finding a credit union to get into, at least with a credit union every person that has money in it is a shareholder rather than just a customer/client.
It’s still part of the ridiculous system but at least they are mandated to treat you better since shareholders are the primary legal concern of all registered corporations whereas customers/clients are secondary as they exist purely to establish the profit of the primary shareholders.
All banks are registered corporations, anyone that thinks they operate any differently is fooling themselves. Credit unions aren’t a solution in my opinion but they are a good compromise for those who don’t feel safe keeping their money in their mattresses(or homes in general).
Though the smaller the better obviously, fewer shareholders means greater influence for each member. My credit union has unfortunately gotten so large now I feel like I am back to being treated like just another lowly ‘asset’ rather than as an actual shareholder, but I still have a (rather meaningless) vote in choosing executives and it’s still far better than a typical bank.
The only reason I don’t use the mattress system myself is because with my job and the few bills I have it’s easier with a bank account and automatic payment, and it makes it easier for my accountant to make use of all the tax loopholes he learned as a corporate tax lawyer to save me a lot of money on taxes and get some pretty decent refunds.
I’d honestly prefer to have no monetary system at all over the current system, but it’s difficult to survive in a society built by the bankers without using the banking system to some extent.
Hence why I feel so strongly about educating people on the system and hopefully changing the system – not necessarily to destroy it completely but at least to give the option for people to chose not to be a part of it all while still being able to etch out a decent existence for themselves and their families.
Although the recent crises has raised the level of awareness a great deal and there is reason to be encouraged that this crises could be the last one, or at least the next one could be the last one as the ‘final straw’ that breaks the society’s back.
But then that happens with every such crises but the majority always end up being successfully distracted from it and forgetting about it soon after and then when the next one hits they act shocked and outraged that they were too stupid to know it was coming once again as it always does with this system and it’s ‘economic cycles’.
It makes me think back to the gas rationing, price hikes and speed limit reductions of the 70’s and early 80’s aimed at preventing oil from running out, yet strangely the amount of oil being consumed on a weekly basis didn’t change much during that entire time compared to prior to the ‘oil crises’ and they never came close to running out of oil despite all the fearmongering.
The only difference was that you had to drive slower, could only buy gas during certain hours on certain days of the week(based on license plate letters) and you had to pay out your ass for it after waiting for hours in huge line-ups.
Now decades later we are paying a lot more and we’re still about to run out of oil!
And we’ve still got at least another 30 years of running out of oil before we actually even come close to running out of oil, and that’s only if biotic(fossil fuel) theory of oil production is true which significant evidence suggests is not the case.
I have yet to hear a credible explanation based on biotic oil theory of the trace minerals and metals found in oil that ONLY EXIST beneath the Earth’s crust, far deeper than biotic oil theory allows for oil to be(the temperatures and pressures would break it down into natural gas according to the theory).
But before I get too far off topic my point in mentioning this is that the whole ‘peak oil’ crises is a manufactured issue meant to push a political and profiteering agenda, and the economic crises’ that come along every so often “naturally” in the cycle are just as much manufactured, at least to the level that the people who run the system could prevent them if they really wanted too and they don’t because they ALWAYS end up profiting from everyone else losing their money.
The bankers lost OUR money so they said it wasn’t their fault and demanded we give them more of OUR money to ‘bail them out’ so that their shareholders(NOT YOU) didn’t lose any money or were compensated for what they did lose, and in fact many actually posted personal profits during the ‘crises’.
As a client you lose your loan/mortgage and/or your home and family, as a shareholder you get billions of tax-payer dollars to make sure your company continues to turn a profit on the backs of those being destroyed by your policies.
Anyways, once again I’m rambling on a bit more than I had planned so I’ll end here and sum it up simply by pointing back to my first few comments, lol.
I agree with what you say but banks rip us off even more than you indicate. The paragraph “Although I am not certain of the exact figure right now at 10% reserve if you put $1,000,000 dollars in a U.S bank today only around $110,000 would actually be kept safe in the bank, the other $890,000 would be given out to individuals, corporations, governments, etc. as loans or used to buy assets for the banks themselves and pay ridiculously high banker salaries.” is is incorrect.
If one placed $1,000,000 in a bank it would go into their reserves after which they could lend up to 9 times that ammount. $9,000,000 not $890,000 to lend and collect interest for money they don’t have. It’s a huge scam, if you or I did the same thing we’d be in prison. I encourage anyone with an hour to kill to watch “Money as Debt 2”; it can be found on youtube or http://vimeo.com/12143080. The documentary provides a good synopsis of how our financial system works. I had to watch twice to get my head around it, shaking my head the whole time. The way I previously thought it worked was similar to what you described above.
Wrong, why are kids so lazy today? If a bank has $1 million dollars it can then lend $900,000. Sheesh.
Agreed, it is certainly true that they use their accounting tricks to make fools of us as much as you say and even more, but that was irrelevant to my particular point right there as I was simply addressing the actual money that is put in by individual clients and how much the banks retain of those deposited funds.
Though arguably that paper money is worthless anyways regardless of who actually possesses it, we may as well have Monopoly money. It’s only actually valuable for those who control the game and thus dictate it’s artificial value.
As I mentioned before the bankers are masters of accounting tricks and games that would make the best criminal con-men and scammers seem like rank amateurs.
But instead of being in prisons as you say the bankers are in plush palaces, go figure.
Instead of having to pay us back for their scams we have to pay them so they can cover their manufactured debts, and still turn a profit in most cases.
Those profits for the banks themselves may largely exist only “on the books” but the personal profits of the bankers are quite real and rarely take a hit even in the worst crises.
The fact so many bankers started taking personal bonuses out of the tax-payer ‘bail-out’ money is a sign of how much contempt they really have for all us ‘little people’.
But of course the brilliance of it all is that no matter what any of the puppet governments from any ‘Party’ do to try to deal with this type of crises it will ultimately involve spending(borrowing) more money and end up increasing the national debt owed to the banking capo’s.
The game is rigged so that the bankers always win and we the ‘little people’ always lose, the only way to beat them is to stop playing the game, period.
So anyways getting back to my initial comments if you want to keep the game going but just want to change the rules and who’s running it right now then keep doing business with banks, if you want to end the game don’t use banks.
But unfortunately again it is hard to survive in this banker built society without using the banking system in some way, so it’s easier said than done.
Excellent documentary you link too as well, as well as the original one too of course.
Thank you for some really interesting and educational information! Really would like to know more from people like you!