'Dangerous fantasy'; Gold, Bitcoin won't help you find freedom outside government - Yanis Varoufakis
Переглядів 113,442
День томуCentral banks should be democratically controlled, said Yanis Varoufakis.
Varoufakis is the former Finance Minister of Greece, and Secretary-General of the political party MeRA25. He spoke with David Lin, Anchor and Producer at Kitco News, about Bitcoin, gold, inflation, and the war in Ukraine.
0:00 - Central bank digital currencies
8:45 - Government tyranny
12:32 - Gold, Bitcoin
15:16 - Inflation
26:09 - Russia and Ukraine
31:02 - Upcoming book
Follow David Lin on Twitter: @davidlin_TV ( / davidlin_tv )
Follow Kitco News on Twitter: @KitcoNewsNOW ( / kitconewsnow )
Follow Yanis Varoufakis on Twitter: @yanisvaroufakis ( / yanisvaroufakis )
#Ukraine #crypto #inflation
__________________________________________________________________
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@nhardman Рік тому
Greece deserves this guy. He’s out of his mind.
@alb0zfinest Рік тому
Why because he said something you don’t like?
@mattjohnson7198 Рік тому
@@alb0zfinest Um, yeah. Several things.
@ruecottage2789 Рік тому
In the end, he wants control of the money system to force adoption of the green new deal……slavery for the surfs
@deathlarsen7502 Рік тому
@@alb0zfinest go back and finish your GED flunky
@kenanalexander3233 Рік тому
It’s people like this guy that will lead to the ultimate destruction of the Eurozone nations.
@CR-ul6nx Рік тому
How fantastic to let this man expose how incredibly dangerous governments are, without him even realizing him doing it.
@ruckercarlson6229 Рік тому
Now give them total power with CBDC. End free will.
@pamandaloro7206 Рік тому
I was thinking the same thing
@FinanceVector Рік тому
@Chris Reddy Goodness, you nailed it. I didn't even think of that, but you are right, it is definitely an exposure!
@xqt39a Рік тому
He is an economist-Nobel prize winning economist says the Internet will have no more impact on the economy than a fax machine. The skill of an economist is persuasion not prediction, even the great Milton Freeman’s predictions were almost always wrong, I checked it. Has government control of money supply ever been successful for innovation?
@lorenk.775 Рік тому
Chris Reddy, then go ahead and move to live somewhere where cartels and mafias rule, you donkey! govts can only get dangerous if the people let them or like them that way! govts are made by people!!
@Sneezyridr Рік тому
As soon as he said he’s been an advocate of CBDC’s since 2012…..I’m out
@HowardARoark Рік тому
Out also.
@EonSpringer Рік тому
OUTTT
@biczo4 Рік тому
Out for sure
@ifh4030 Рік тому
Year 2025: You four are all cut off from the CBDC system for your criticism. Btw, you can only renew your passport using a CBDC wallet so you ain't going nowhere. If you want your account back you need to go to at least 3 pro-government rallies a month for the next 6 months.
@KQKQKQKQKQKQ Рік тому
Know your enemy
@dolanduk7946 Рік тому
The irony of a Greek "economist" advocating for more govt interference in free markets is absolutely staggering
@77vavavoom Рік тому
Not trying to defend him, but where the hell do you see the free market economy, when central banks keep pumping fiat money to the "too big to fail" corporations when on the same time they let the small businesses and individuals burn to the ground?
@dolanduk7946 Рік тому
@@77vavavoom im lumping central banks in with govt, which is to say we havent had free markets in over 100 years
@77vavavoom Рік тому
@@dolanduk7946 it's actually worse than that.. western central banks, except the Bank of England, ARE PRIVATELY OWNED (Rothschild owned to put it better) meaning that Bankers are controlling the Governments.
@shearitchie998 Рік тому
@@dolanduk7946 governments are the murders and central banks are the murder weapon.... (but it could be said that the central banks are more in control than the governments....)
@MortonT1958 Рік тому
It is a different worldview, that’s for sure. The big government-types see strong central government regulations as the answer to everything. They do it with almost religious fervor.
@joeymcbain4537 Рік тому
It's an eye opening moment. Now I understand the reason why Greece was bankrupt then. Thank you David
@christopherpbatty2138 Рік тому
Exactly total sociopath. His only criticism of the MMT orgy is that it isn’t “democratic” enough
@rajanranjitmistry Рік тому
He recommends increasing interests to 3.5% while printing huge amounts of money to fund green research. He doesn’t remember the Solyndra failure and seems to think we can afford the interest payments. No wonder Greece went bust. Tsipras had no idea
@dunner079 Рік тому
@@christopherpbatty2138 My thoughts exactly
@robt3407 Рік тому
@@christopherpbatty2138 there's something about his name that describes the situation you mentioned.
@brinstar Рік тому
Very well said. Putting morons like this in positions of power has serious real-world consequences. When will humanity learn?
@Guitube99 Рік тому
"If the money supply was fixed we would not have been able to do lockdowns." That's actually a great argument for having a fixed money supply.
@huwhitecavebeast1972 Рік тому
No kidding.
@randyromano2854 Рік тому
When Yanis spoke about the pandemic, he missed the part where governments dictatorially shutdown the economies of the world causing all the problems with supply chains and the "hole" in the economy. There was no democracy in that action Yanis. Capitalism will control itself; left to itself.
@N20Joe Рік тому
It's funny how those near power always happen to leave that part out. You know, the self-inflicted pin that pricked this E-N-O-R-M-O-U-S bubble.
@natasspin3015 Рік тому
And capitalism will do good, because macroscopically it's caos and it's equal. Hope we will understand freemarket before being whiped out by nukes
@savagefist1029 Рік тому
Bingo. Glad you pointed that out. Too many(mainly on the Left) continually fail to realize when government proposes a solution to some huge event with negative consequences that it was government that caused it in the first place. Those in power NEVER offer to shrink government to get it out of the way.
@randyromano2854 Рік тому
@@savagefist1029 And that's our fault for allowing our "representatives" ( cough cough ) to gain so much power over us. They should be serving us, not ruling us.
@jimlehmann1661 Рік тому
It was a capitalistic administration that put us here.... Blame the GOP in America's case but really, the democrats would have done the same. Globally, that was the 'thing to do' and it makes you wonder if this entire COVID thing was made-up to destroy the current currency system so we could bring on fed coin, YEN coin, Ruble Coin etc etc.... Thoughts?
@christieman4001 Рік тому
This guy’s philosophy is exactly why the world is in the position that it’s in and so fragile.
@davidwhatsapp4678 Рік тому
Hey mate.. ᴛʜᴀɴᴋꜱ FOR ᴡᴀᴛᴄʜɪɴɢ have something to share with you msg direct ⬆️✍️
@neonovalis Рік тому
He is right in the sense that BTC can not be the solution ... since the early birds (the "oligarchs") will become rich ... same with Gold. He is wrong in the sense that the "little man" can not use Gold to protect himself.
@christieman4001 Рік тому
@@neonovalis what’s wrong with being rich? no different than our current landscape just different players
@neonovalis Рік тому
@@christieman4001 Nothing wrong with being rich in general. But becoming rich with establishing a "monopoly situation" (ie Bitcoin) is just not fair ... to start printing a currency (collecting the cheap coins) and then saying: look there is btc that is the future, but you have to pay 30K for it (while the early bird paid 10$) ... that is just not fair. Gold is a bit a different story ... because it was sold (most of the time) at about mining costs +10 to 100% premium (above all in cash costs) ... so that was rather "fair" ... and you can go panning in the river if you want to.
@FinanceVector Рік тому
Well said. We have too many "technocrats" with these useless ideas.
@philpot3478 Рік тому
This fellow has been working in/for governments for to many years. He seems to be completely unaware that the engine of freedom is small business not government. Government is the force which drains wealth, creates wars, creates lockdowns, creates division and destroys small business. "The government must love the poor, they are creating so many of them."
@daath5114 Рік тому
Your business gets robbed. Who do you call?
@seankennedy4284 Рік тому
The engine of freedom is small business, yes. And sound money.
@willnitschke Рік тому
This is the same genius who presided over the bankruptcy of Greece... so basically if you did the opposite of everything he suggested, you'd likely be far better off. ;-)
@kryptobear2444 Рік тому
@@daath5114 Wealth Busters. In other words government
@philpot3478 Рік тому
@@seankennedy4284 I agree 100%, actually sound money is essential, and every bit as important as small business. Inflation/extortion is the penultimate tax and bows only to direct confiscation.
@johngrear6506 Рік тому
Every single person in the comments sees straight through this guy. Faith in humanity - restored!
@mcata3625 Рік тому
It's why they've wiped out many comments including mine discussing his views overnight
@praline4157 Рік тому
I know it’s a bit of a relief. I find it odd this guy, a Communisn advocate, basically wants the same thing the WEF billionaires and central bankers want themselves to keep control over everything and everyone. It’s bad enough now, it would be hell on earth. It’s basically like China where it’s super controlled Communism fir the vast majority with the oligarchs/political elite enjoying the fruits.
@KrunoslavStifter Рік тому
Don't you just love when Kitco get's a proper old school communist to talk economy. lol
@HowardARoark Рік тому
Kitco ain't the friend of any of us.
@ifh4030 Рік тому
I don't like your comment. If I ever get control of your country's CBDC I'm cutting you off.
@harmankardon478 Рік тому
@@HowardARoark thats for sure David is a worry...
@rudiegotbetter8730 Рік тому
He isnt a communist but ok
@cleopatraoatcake7364 Рік тому
He's not a communist.
@seodo8915 Рік тому
Your next guest should be Recep Erdogan of Turkey. He would give an excellent advice on how to fight the inflation.
@davidwhatsapp4678 Рік тому
Hey mate ᴛʜᴀɴᴋꜱ FOR ᴡᴀᴛᴄʜɪɴɢ have something to share with you msg direct ⬆️✍️
@icecoldchilipreppers6496 Рік тому
🤣
@matmc8100 Рік тому
😂😂
@faded6507 Рік тому
Thank you . Somebody had to say that ahaha
@77vavavoom Рік тому
No need to invite, I can tell you myself. By using the Turkish economy to launder all the smuggling, racketeering, black market euros and USD. And still raal inflation is about 150%
@lennyunknown7048 Рік тому
Printing money to fix inflation. Genius.
@aokaparagit Рік тому
I'm pretty sure he said printing money for green investment & an increase in interest rate.
@anthonypai6127 Рік тому
Printing money and using it for the people by improving / creating green energy. Not printing money and giving it to big business so they can buy their own shares and give themselves a pay on the back and keep lots of the money!
@peterhamill730 Рік тому
He's a politician.
@willnitschke Рік тому
@@anthonypai6127 Printing money for ANY ideological cause that is utterly uneconomic always ends in catastrophe. Hasn't Europe already "invested" around 2 trillion in green energy only to now suffer a catastrophic energy crisis? (And this was on-going well before Putin.)
@theguy9067 Рік тому
Yeah bro, and any one who thinks fiat supply increase causes inflation is "financially illiterate" 🤪🤣 perhaps he needs to ask someone as to why Venezuela experiences hyperinflation or why any country who experiences hyperinflation, does so right after printing "free money". You don't even need the empirical evidence to know fiat printing would help cause inflation. It isn't the be all and end all but it's certainly utterly false that is has "absolutely nothing to do with it"
@antoniohg Рік тому
It is a testament to the great service that Kitco is providing and the excellent interview skills of David, that we are able to get a clear glimpse of such dangerous and fallacious opinions as those put forward by Yanis Varoufakis.
@antoniohg Рік тому
And I refer to his opinions about a CBDC. However I do agree with Varoufakis views on the war on Ukraine.
@omrit2 Рік тому
He's obviously a shill for the globalists.
@sporegnosis Рік тому
All of his answers were so ideologially loaded. He really wants to become the tzar of a new centralized inflationary monetary state. The reality is that goods and services are constrained by reality, and all the printed money in the world can't prodive you with wheat and oil - food and energy.
@JimJamJuicy Рік тому
Well said
@weekendatbernies2265 Рік тому
That, or Kitco is a propaganda outlet....
@anilrai6918 Рік тому
Thanks for the government side perspective. Government should not be the controlling force rather protecting force.
@drudini5812 Рік тому
Amen
@junktex Рік тому
LOL.Government is one of the biggest frauds ever perpetrated.Wake up.
@anilrai6918 Рік тому
@@junktex thats the point.
@77vavavoom Рік тому
How can you protect or control the economy when your central bank is not state owned and controlled but private?
@adenizenabroad9593 Рік тому
I agree, Amazon should stop controlling the vast majority of wealth. Ridiculous they have that much power over ppl
@springwater3164 Рік тому
From gold to crypto to stocks, from distrust of governments (gold is a distrust in government issued fiat) to interviewing central bankers and former ministers. Great to hear different perspectives in recent interviews. Well hosted, relevant questions, good journalism.
@raftea219 Рік тому
He is a communist
@harryzero1566 Рік тому
It is possible that gold and bitcoin won't help governments, but Gold will always have a value and therefore help individuals of that I am convinced. I would rather have 10 years worth of 5gm gold coins than rely on being fed a arbitrarily set amount of digital currency to be used at a central entities discretion. In Lionel Shriver's dystopian near future novel where the US defaults on its debts, The Mandibles. the populace, submit to being chipped, carrying their digital wallet embedded. If they stray from their geographical enclosure the funds are deleted.
@yodaddy6586 Рік тому
Politicians will never promote gold because they can't steal your gold unless they go dig and pull it out of the ground.
@anilrai6918 Рік тому
I dont agree with gold being distrust in government statement. Gold is and was money thats it.
@nenzie110 Рік тому
@rolfs4743 Рік тому
Yanis is very slick in turning the cause and effect around, calling everyone who says otherwise a 'financial illiterate'. No wonder Greece is doing great financially.. Poor people of Greece who have to deal with this financial clown lol.
@yeshayahu8358 Рік тому
I agree. Inflation is high because of years of quantitative easing. The real reason why the gold standard didn’t work is because no one wanted to be fiscally responsible.
@damiangrouse4564 Рік тому
@@yeshayahu8358 sounds right
@alexcipriani6003 Рік тому
the guy is not even in the government
@mikecb39 Рік тому
I used to respect this guy back in the day because he seemed to be standing up for the Greek people but now all I see is an old school communist trying to resurrect ideas that have been proven to fail over and over again.
@robstrickland166 Місяць тому
tooooo... dictatorial
@Cryptoversity Рік тому
"Capitalism is a very volatile beast" and yet talks about political, central bank global-communist money. He has lost the plot.
@willnitschke Рік тому
Given the fact that central bank tightening has so far resulted in recessions 70% of the time, it's a bit rich to blame volatility on capitalism these days, isn't it?
@EJL171 Рік тому
@Chris Jones it’s not FREE Market capitalism
@sporegnosis Рік тому
So true!!! Abd this is why he won't accept private money ever - because it would be out his comunist state control.
@koltoncrane3099 Рік тому
Chris Sure central banks can be called capitalistic. It’s also fair to say the U.S. still supports FEUDALISM by owning 25% of the land and being the lords and telling the serfs if they can work there or not. Or technically I guess it’s communism or socialism since the government does own such massive amounts of land. You can’t own land in China for instance cause tbr government owns it. Like it’s against the constitution. The constitution also says gold is money and there was no amendment to the constitution. None to make fiat currencies legal tender and make gold a commodity. The point is it’s NAIVE when people just say capitalism. Like that’s a pendulum and you need to be very specific. Is it a semi free market we’re talking about or more of a creditism market which the Us has been in for decades focused on expanding debt to avoid a recession at all costs. Capitalism does benefit from recessions so it’s kind of absurd when people claim ya our society is capitalistic when it’s manipulated so much it’s getting ever closer to a central planned economy. How many people know the US had two central banks before the federal reserve and each time the U.S. got rid of it for a reason.
@Cryptoversity Рік тому
@Chris Jones Its hard/long to explain why I am calling central-banks Communist rather than capitalistic so in short..... They (CBs) create fiat (thy will have value, because we say so, value by authority). Effectively false tokens produced at will to infinity if desired, representing real energy and real capital. Capitalistic money would be gold, silver, bitcoin, or even oil, cattle and tobacco. (Can't be produced at will and valued based on authority and imposed trust). Capitalistic monetary instruments of all sorts can fluctuate in relative value based only on supply vs demand. Communistic monetary devices which include govt bonds and derivatives fluctuate based on the ability of authoritarians to demand agreement of value, or confidence in the issuer of the effective ponzi monetary scheme. The grey areas of confusion of when capitalists use communist scams such as govt funding and pozi schemes to accumulate capital, or when communists use their fiat to aquire real capital to cement further athoritarianism. Fascism, Naziism, Socialism and Communism, are all served by Crony-Capitalism/Corprorate-Welfare.
@paulodonnell2820 Рік тому
He didn’t actually answer David’s question about bitcoin and gold being a store of value independent of government! He went on a rant about why the gold standard did not work lol 😂 anyone who resorts to calling people idiots if they do not agree with their opinion isn’t really worth the time of day!
@takethepowerback83 Рік тому
Hear hear!
@mikerollin4073 Рік тому
He actually has a lot of interesting ideas despite this interview, IMO, not being his greatest .
@YG-fm2wv Рік тому
@@mikerollin4073 this is the Guy who made the Euro crisis of 2013. As prime minister of Greece, he did not control a lot which resulted in a crisis…. This Guy should be in jail.
@ssuwandi3240 Рік тому
Because we are in midst of ideology war! The rock and hard places between freedom of liquidity / printing vs free movement of commodities trades everywhere else except Ukraine/ Russia. Combined value of trades involvedi is quite significant. We are now getting stuck at just paying for the consequences of the imbalance in form of hyper inflation! It's the fundamental problem in store of values. Bear in mind that gold is also a commodity
@YG-fm2wv Рік тому
@AVRO Greece could only enter € by cooking its books thanks to Jp more-trash. 🤠
@drip369 Рік тому
Screw democracy, i want my constitutional republic back!
@ramsesmartina4960 Рік тому
Seriously, is this guy an economist? I already understand why the Greek economy went to shit
@peaceonearth8693 Рік тому
You nailed it.
@enriquejaimes3368 Рік тому
Well, he is a politician first and that shows. They want to control everything.
@supertampon5 Рік тому
he was an economist for a gaming company lol
@largefarva4712 Рік тому
🤣🤣🤣
@goldennuggetz5312 Рік тому
He's a socialist that thinks he knows economics.
@anassmsallem1977 Рік тому
So ironic i literally see the idiocy and the economic illiteracy manifested in this guy. No wonder he was a minister of finance!
@tshandy1 Рік тому
He's a government guy. He doesn't instinctively distrust government. Rational people who value individuality, privacy, and freedom do, however, distrust the kind of government authority this man is trying to sell.
@junktex Рік тому
EXACTLY!
@vincentmurphy9252 Рік тому
Greece Should fold. No one works they do nothing . Then get bailed out
@ifh4030 Рік тому
You have dangerous ideas. Your personal CBDC account is therefore going to have a -15% annual interest rate. Good luck.
@clambert608 Рік тому
Hes a renowned economist...
@enriquejaimes3368 Рік тому
"The fact that we have inflation today is not because of QE" WTF!!!!
@davidwhatsapp4678 Рік тому
Hey mate. ᴛʜᴀɴᴋꜱ FOR ᴡᴀᴛᴄʜɪɴɢ have something to share with you msg direct ⬆️✍️
@willnitschke Рік тому
Inflation is caused by Putin 'cause he caused the supply chain disruptions, apparently. Apparently not Chinese lock-downs. I suspect he admires Chinese Communism too much to be critical there.
@willnitschke Рік тому
@Madolite Depends which type of inflation you're talking about.
@rrocco74 Рік тому
Listening to this guy we understand why Greece is bankrupt... Socialism/communism has never worked and will never work... The solution is decentralization not the opposite.
@stefanfaelschle Рік тому
I fully agree. And they have sucked cheap money out of Germany, Austria, Netherlands etc...They should never have been part of the EURO in the first place.
@RR-qj1ji Рік тому
@@stefanfaelschle I am from Greece and I totally agree. We have one of the most corrupt systems in Europe and shouldn't have joined before fixing that. Only thing that did was to flush the corrupt with Euro money and let the people pay for the 210 debt/GDP interests. Oh and the great thing is we can't devalue our currency to attract demand since we are stuck in €. For reference minimum wage is 600€ gasoline at 2.50€ rent at 350€ avg and we have the moste expensive internet and supermarket in Europe as well.. hooray 🎉 Oh and all our masters/PhDs are gone.
@Harrybowles1969 Рік тому
@@RR-qj1ji internet expensive and rubbish. This interview glitched all the way through!
@77vavavoom Рік тому
@@stefanfaelschle you only know half the story. The loans were FORCED on greece with the help of the corrupt political system, only to use them to buy German and Dutch "green energy" infrastructure, while on the meantime mortgaging to the lenders all of Greece's resources and assets, even fucking Acropolis. On the same time, austerity measure packages destined to fail from the beginning were imposed, with the result of going from 112% debt/GDP in 2010, to 240% currently. Things are not so simple as your media has told you my friend.. and by the way, you still owe us the NAZI loan you forcefully got from us in 1940, and greece is the only country Germany has not settled compensations with , for the destruction you brought to my country in WW2. I don't know if you media has told you, but these 2 grossly sum up to over 1 Trillion with interest. Any comments on that?
@jimlaughton9978 Рік тому
Maybe Kitco should interview other past financial has beens from say like Venezuela, Argentina or the third rock from the sun
@bar8665 Рік тому
😂
@JohnSmith-zu2sy Рік тому
Exactly, I don't trust him, he was relevant for 5 minutes over 12 years ago.
@patienceobongo Рік тому
Or Paul Singer since he owns Argentina's population
@Harrybowles1969 Рік тому
Didn't Greece go bankrupt when this guy was in office?
@jack-xz7px Рік тому
Not to mention the banana US republic …..Bernanke Greenspan Yellen et al
@blastfromthepast185 Рік тому
This speaks volumes on why Greece has had to be rescued by the EU (Germany) financially. At least he is transparent and explains his Marxist views openly. David did a great job just letting him talk, exposing these pernicious ideas of the past, present and unfortunately the future.
@inflationking1271 Рік тому
Greece was squeezed out by Goldman Sachs and others like a lemon.
@neonovalis Рік тому
He is not Marxist ... he advocates Green energy ... because the "EU addiction" of Gas/Oil has brought this dependency of this rouge state called Russia. ... besides he is right on the commercial banks ... the big guys (oligarchs) get credit(loans) for 0 percent ... while "Joe Average" has to pay 4-6% ... absurd system.
@AceFromGorillaz Рік тому
First of all Greece wasn't rescued by anyone. The EU only rescued foreign banks, also yanis was a minister for only a few months so he didn't really affect Greeces economy. He went there to go against the EU and the bankers and when the government back down and chose to agree with eus austerity rules he quit.
@georgesamaras2922 Рік тому
Germany saved itself (private banks) ... 40 years of corruption and foreign loans had created greece ... politicians and their shell games of debt and vote buying through subsidies
@JR-gj3fx Рік тому
This guy thinks a super-centralized bank is going to look out for the little guy better than anyone else? He thinks a centralized bank isn’t oligarchic? Really? Give us decentralized money and we’ll look out for ourselves. I want nothing to do with getting trapped in this guys vision for the future. (Good interview by the way.)
@AllNighterHeider Рік тому
Know your enemy
@twisttwister8254 Рік тому
Im not a gold big or a crypto guy, and i disagree with almost everything this guy says.
@trustedsource2617 Рік тому
That is because you are not brain dead.
@asumamonsta Рік тому
Yup, his world will give to much power to a handful of people
@dylanvanhoorne3191 Рік тому
Anyone who consumes financial content on the reg.can hear all the buzz words.he thinks the ends justify the means
@tkendirli Рік тому
Remembers he is a socialist let say even light communist. he speaks about his beliefs. which I find very naive.
@JohnSmith-zu2sy Рік тому
Because he's a commie shill and should be ignored.
@michaeldob9526 Рік тому
He's actually making a good case for bitcoin. Money will always be in control of politics and the supply will never be fixed, so to save your wealth you have no choice but to rely on bitcoin or gold.
@swedeshooter7540 Рік тому
Of corse is crypto a favorite among socialists. It’s the left’s long lived dream of creating value out of nothing. Carl Marx ultimate wet dream.
@YG-fm2wv Рік тому
@Abc Imschnee Hoddle to 0
@CryptoDave17 Рік тому
@Abc Imschnee umm sir have you checked your golf portfolio in the past 10 years?
@HowardARoark Рік тому
They are the best hope.
@YG-fm2wv Рік тому
My son *
@daviddjerassi Рік тому
This video should be compulsory viewing in every school around the world an amazing man who really understands Government money and interest rates ,Thank you Yanis please hurry up with your book i want a copy.
@rememberremember549 Рік тому
absolutely agree. Easy to be an armchair expert who has watched a few you tube videos. This guy actually understands the system and is an advocate for real democracy.
@patriotpioneer Рік тому
You guys remember back when the dislike button worked...?
@dekzzx Рік тому
they couldn't even let us have that
@davidcollins8150 Рік тому
Let's get Prof Henke, Varoufakis and a Max Keiser together - now that would be entertainment!
@702robertsroad Рік тому
Or Michael Saylor or Jeff Booth
@guzey61 Рік тому
This must be arranged! Come on Kitco, work on this please
@matthewgallant4224 Рік тому
This !
@fillup8177 Рік тому
Ooo!...Celente!
@rajanranjitmistry Рік тому
At that point, get Peter Schiff in the mix too
@jairogutierrez6609 Рік тому
There are more fallacies in this man's arguments than there is sand in a desert xD
@HowardARoark Рік тому
He's just another communist fantasist speaking babble.
@krz8888888 Рік тому
Minister of finance: Nice! Of Greece: Oh...
@markyocum8249 Рік тому
Hahaha right?
@peaceonearth8693 Рік тому
lol
@g0rd0nfreeman Рік тому
Haha well done.
@michaelallen5766 Рік тому
That’s just cold 🥶 🤣🤣😅
@danielbarnett6859 Рік тому
exactly!
@hansp. Рік тому
Inflation has nothing to do with QE??? "Just print the dough to create a massive green new deal." He sounds like a politician!
@charlesgaylord481 Рік тому
Having this guy on is like taking boating advice from the Captain of the Titanic.
@flyinb45 Рік тому
Not fair, he was sleeping when they hit the ice berg lol
@QUARTZdls Рік тому
Yanis is intelligent... so how on Earth is he unable to comprehend that a currency can be bound to gold yet the supply of the currency can still expand? How can he not comprehend that expanding the currency supply simply requires a commensurate increase in the price of gold (as expressed in the currency)? Or, if the currency supply must expand but we prefer the gold price to stay constant, then do the work to acquire more gold. It’s so basic, yet our thought leaders are all so ignorant. Yanis also does not understand the importance of a high level of energy flux density; you can install *all* the solar and wind you want, but it is low energy flux density so will never be able to propel us forward. Gradually replace carbon with nuclear and re-focus on fusion energy, research on which was largely de-funded in the 1960s.
@KrunoslavStifter Рік тому
Lenin was educated and articulate, but: “We are all susceptible to the pull of viral ideas. Like mass hysteria. Or a tune that gets into your head that you keep humming all day until you spread it to someone else. Jokes. Urban legends. Crackpot religions. Marxism. No matter how smart we get, there is always this deep irrational part that makes us potential hosts for self-replicating information.” ― Neal Stephenson, Snow Crash “The difference between communism and socialism is that under socialism central planning ends with a gun in your face, whereas under communism central planning begins with a gun in your face.” ― Kevin D. Williamson, The Politically Incorrect Guide to Socialism “The world would not be in such a snarl, had Marx been Groucho instead of Karl.” ― Irving Berlin
@felipe4477 Рік тому
Thats not how it works pal. Last decade ai made my fortune shorting goldbugs like you lolol
@phiaowo3999 Рік тому
I don’t like the corrupt banking system but I am more afraid of the concentration of power the Fed or the government bank would have over people with a CBDC
@kaputalist1971 Рік тому
I used to respect him, then I saw how far he lost the plot. His arguments are worse than his internet connection.
@Scott_Bradbury Рік тому
There is a big difference between a central bank giving you money, that you can then remove to cash and spend how you want without any tracking on it. Vs having all money on a centralized blockchain where you have zero sovereignty of money, no way to remove it, and no way keep your privacy.
@willnitschke Рік тому
Of course. And the so called "transparency" of such a block chain would never be available to the masses in the real world.
@HowardARoark Рік тому
It won't be "a blockchain" - it'll be a centralized database. A blockchain must be Proof of Work and it cannot be centralized - Bitcoin is the only functioning blockchain in existence (apart from some hobby projects).
@willnitschke Рік тому
@@HowardARoark Of course, but they'll still call it a block chain...
@thecars570 Рік тому
Inflation is great as a hidden tax for gov. Inflation is not great for a saver and the middle class or poor.
@mcata3625 Рік тому
I think he knows that, that's why he's in favour of it, to rob people.
@southernbanker1946 Рік тому
YT took down the video initially....watch and listen for parts that may be cut out or pieced together
@jr3213 Рік тому
Yes, did he say bitcoin shouldn’t replace dollar? Weird edit
@Cryptoversity Рік тому
Dangerous fantasy? That is subservience-talk. Yanis needs to watch more Nomad Capitalist. I myself have been a digital nomad with no permanent residence for years.
@budgetingstrategies6240 Рік тому
As soon as he says he doesn't like Bitcoin but likes Blockchain, I'm like, yeah this guy sucks
@aokaparagit Рік тому
Yah you don't have to like him.
@Harrybowles1969 Рік тому
They didn't say they didn't like him they said he sucked. I didn't get anything useful from listening to this unfortunately
@HowardARoark Рік тому
He is absolutely full of shit.
@EJL171 Рік тому
Typical bullshitting bureaucrat
@joeferreira657 Рік тому
Who is CEO of bitcoin.? Oh,it's machines burning electric power. Ok.
@galaxyknuckles9000 Рік тому
This guy sounded like a total tool. He is definitely a politician.
@AndyPentax Рік тому
Here in Ireland, the Unsecured Bond Holder's were bailed out by placing their Debt on the Irish Public Tax Payers. Income Tax increased and the prices of Electricity, Gas and Food also increased. Today these debts have been made permanent and it's called a Universal Social Charge on everyone's Weekly Payslip. This was undemocratic and a decision taken by Government without any input by the Irish Taxpayer.
@arbitrader893 Рік тому
Is kitco looking for the dumbest people to interview? Because lately Kitco takes the cake.
@ruckercarlson6229 Рік тому
I think it's great. To see the faces of bureaucrats who enable socialism for corporations, devalued the money of the saver to hand it out for free to government connected Corp.
@geirsivertsen4225 Рік тому
Arbitrader: I think you should stick to your trades. This former finance minister is sharp as a razor blade, - but new political ideas outside the mainstream are always treated with disbelief and mockery, as seen in most of the comments here. By the way, same phenomena has happened in the scientific world through times…
@arbitrader893 Рік тому
@@geirsivertsen4225 Who told you to think?
@clambert608 Рік тому
@@arbitrader893 it shows a sad glimpse into your mind that you think someone needs to be "told to think". Probably why youre so close minded to the worst of an incredibly intelligent man. Perhaps you just cant grasp the topic at hand properly...
@mjjackal Рік тому
Thanks Kitco for putting a face on pure evil
@1976tsaijay Рік тому
3 interviews in the row from kitco discouraging investors and funds to go into gold. I wonder if it has anything to do with recent gold delivery 🤔
@permabear6025 Рік тому
Or because the endless gold price projections have turned out to be nonsense and it’s down YoY when inflation is 20% plus even lower than 2011…
@mcata3625 Рік тому
@@permabear6025 so, you don't think it's being manipulated?
@permabear6025 Рік тому
@@mcata3625 Of course gold price is manipulated which is yet another reason not to buy it.
@vernondecker9532 Рік тому
Digital currency is a prison.
@cyberblock7619 Рік тому
Not if its decentralized like bitcoin
@morganmaniac1364 Рік тому
Government digital currencies yes, but decentralized cryptos like BTC, NOOOO! The exact opposite!
@dangonzalez2088 Рік тому
Not if you could trust you got
@tiamoore2861 Рік тому
@@morganmaniac1364 btc is a trojan horse
@kryptobear2444 Рік тому
@@morganmaniac1364 unless it was NASA that created it and fooled everyone into thinking it was some unknown guy called Satoshi.
@99.99 Рік тому
Left wing and economics don't go hand in hand
@puntoomega10 Рік тому
This guy, Varoufukis, seems to have fun calling gold and silver advoctaes idiots who live in a fantasy, while advocating for politics (which pays so well for politicians..) as the solution for the problems caused by politics..., sounds like he is the one living in the biggest fantasy.
@bill7778 Рік тому
Gold was is and always will be GOLD.
@user-DongJ Рік тому
Absolutely. Just like Lead was is and always will be LEAD. Or Tin was is and always will be TIN. However for those who understood nuclear science, Tin, Lead & even Gold can be destroyed by extreme energy fields/objects like strangelets & black holes.
@galaxyknuckles9000 Рік тому
Yes but its perceivable value can change radically and it isn’t an extremely fundamental or particularly scarce commodity considering its use cases.
@bill7778 Рік тому
@@galaxyknuckles9000 but ones and zeros are almost "priceless"
@galaxyknuckles9000 Рік тому
@@bill7778 No, just scarce(or not). And on one of the most reliable/robust open source networks if you’re referring to btc.
@kryptobear2444 Рік тому
@@user-DongJ Yes , so buy buttcoin and watch it go LUNA
@cryptochiefs4752 Рік тому
"the only thing that gives money value is that it can pay taxes" LMAOOOOOOOOOO
@hdj81Vlimited Рік тому
yeah, he is a payed politician by the WEF.......
@ocox8659 Рік тому
Kitco is on a losing streak regarding its guests
@attilaa2065 Рік тому
Guys like this should show us is why it’s so important to keep our 2A
@atzegittler2157 Рік тому
“Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world.” - Henry Kissinger
@maximummilitiaimmaculataem883 Рік тому
“The man of peace” will soon rise and offer a global solution which will offer a “mark of convenience”
@KrunoslavStifter Рік тому
This later was something the kleptocracy in the west forgot in favor of printing machine. So they abandoned food and energy supply in favor of money control. It was easy and worked for long Time. than came Putin and reminded them that they might have printing machine , but he has food and energy and he has them by the balls. Rubles for everything. No wonder they dragged thousand year old scum Kissinger to latest Davos meeting to say that few weeks ago. With no food and energy, money have create out of thin air in the west is becoming worth....less. And eventually it will become worthless. Not so for Russia, because they still control food and energy.
@manmorg Рік тому
Good little Keynesian.
@bikespok Рік тому
Omg I haven’t laughed this much in a long time 😂
@willnitschke Рік тому
Really? I had to vomit instead...
@slavric Рік тому
We can laugh, but for how long? Those bastards are working against people.
@melonshop8888 Рік тому
🤡 TOINKS WORLD. AHAHAHAHHH... 😂🤣😂🥳
@drudini5812 Рік тому
Former finance minster of Greece? Seems like a good person to take advice from.. lol
@Warpcox Рік тому
Exactly!!!!! Ignore this puppet
@toyoharada560 Рік тому
Kitco reputation is destroyed. David needs to bounce out asap
@ThinkForYourself8258 Рік тому
Thanks for bringing on Yanis. Please do it again where he can explain techno feudalism.
@georgesamaras2922 Рік тому
traditional land = web space / platforms -- we slaves producing data for FAANG
@tbled52 Рік тому
How many time has the Greek economy collapsed in recent years?
@mttrader7 Рік тому
Gold will preserve your money from depreciating
@isaacgewn Рік тому
Who?
@Asmodai2011 Рік тому
Ideocracy would be taking Capitalism lessons from a self proclaimed "Libertarian Marxist". There will always be the need for Gold, so long as there is the desire by those in charge, that choose to be Fiscally and Monetarily irresponsible.
@Lexman00 Рік тому
WTF is a libertarian marxist?
@okimitchell1043 Рік тому
Kitco always stays neutral and this makes for way better interviews because they have no dog in the fight.
@BlueWaterSTAX Рік тому
He didn't mention before 1880 in the USA being it's most prosperous and productive period. On the gold standard with silver being the people's money. Is Greece still financially insolvent. To many central banksters on Kitco these days 😐
@dasbof Рік тому
"Yes freedom is good, but we need it metered out by the State" - Buy Bitcoin and gold, silver, and land. Have emergency cash on hand. Good luck.
@mattjohnson7198 Рік тому
Yeah, Yanis is a Marxist/Keynesian. (His words, not mine). And his "expertise" as the Greek finance minister didn't do much for the people of Greece. Funny listening to him pretend like he isn't part of the problem.
@HowardARoark Рік тому
Guys like this are the WHOLE problem. Nothing but waffling government babble comes out of his ignorant mouth.
@ifh4030 Рік тому
You don't get it. If you had just given him 5 years in charge with control over everyone's CBDC wallet things would have been magical. Wake up!
@77vavavoom Рік тому
He is not a Marxist and definitely not a Keynesian, he just wants to sound complicated.
@jeffersonblackmon Рік тому
Credit Kitco NEWS for showing both sides of the story. Gold and Bitcoin it is...
@WassimDabboussi Рік тому
It is ppl like this guy why we are where we are!!
@AR-ilire Рік тому
This guy is also ok with people's savings being devalued for the greater good and the politicians failures. He is basically saying the end result would be the same but he would do a few things differently.
@davidwhatsapp4678 Рік тому
Hey mate.. ᴛʜᴀɴᴋꜱ FOR ᴡᴀᴛᴄʜɪɴɢ have something to share with you msg direct ⬆️ ✍️
@georgesamaras2922 Рік тому
The only person that has benefited from the greater good is advertising revenues, shit food, and mil-industrial complex
@RobertoLopez-nn8ty Рік тому
Only a Gold Standard can Control Government.
@jasonboursaw3258 Рік тому
A 100%, 1:1 gold standard. No fractional reserve or its a fail.
@77vavavoom Рік тому
@@jasonboursaw3258 then you are looking probably at a price of 1.000.000 per ounce. Not possible, a basket of commodities including gold like the Brics are organizing now is the answer.
@miketyson8933 Рік тому
The only thing he said that makes sense is by getting rid of all these middle man banks except local credit unions
@georgepadarev7534 Рік тому
It is the first time I write a comment on youtube. Varoufakis barely lasted a few months as finance minister of Greece without any success in solving the financial crisis in which Greece was 10 years ago. His new populist party Siriza won control of the parliament riding on a tsunami of Greek anger. Siriza totally failed to bring about any major reforms in Greece and soon lost power after accepting all the demands imposed by the EU and IMF to avoid default. they could have taken Greece out of the Euro zone, print back the drahma and show the world this new magic "green energy" deal...! The only "green" energy technology currently available to humanity and underutilized is nuclear! Solar and wind can only be supplements, but are pushed around the world by corrupt, hypocritical politicians. as for the evs - where are you gonna get cheap abundant electricity from? Coal, nuclear, gas and oil are the only options to run the "green" teslas! I am fed up with people like Yanis - financially literate, but only fit to be the finance minister of a floating libertarian island in the Pacific, hypocrites talking fantasy land green energy transition, acting as a military "expert" making biased judgements and giving advice on a war he barely knows anything about... Too much arrogance and ignorance, dude! I love Greece and have been there many times. David, please, tell Yanis that I invite him on a get to know tour of Ukraine anytime! I would be delighted to see his green energy R&D facility, plant in Greece!
@TheDirtydingle Рік тому
Wow, I'll re-subscribe to kitco now. Thanks for bringing on people who aren't just gold and silver promoters.
@neonovalis Рік тому
you have not been here the last weeks ... 19 out of 20 videos had guests promoting crypto currencies.
@willeke8855 Рік тому
Always good questions David. Great video again! And nice to hear from Yanis Varoufakis again.
@ashleysoudah Рік тому
He literally just said there are ways to maintain anonymity and have blockchain CBDCs . The whole point of blockchain CBDCs is that they are NOT anonymous! (at least to the government)
@martinvanmansvelt2390 Рік тому
Great answers from Yaris, smart man 👍
@fusemunk Рік тому
Excellent interview, great to hear the thoughts from someone that has lived the big picture and had to work through a real financial crisis. Balanced, pragmatic and insightful. Well done Kitco and great job as always David.
@MrDomputt Рік тому
Are you a real person? Where were on sept 11th when you first heard the planes hit?
@HowardARoark Рік тому
He lives in the fake reality of government and fake money - he's never worked in anything real in his life.
@tshandy1 Рік тому
The American institution of slavery was also a "big picture" solution to solve a real labor crisis in the southern states, and (this is also inarguably true) many African slaves in the U.S. were fed, clothed, and housed better than they were back in Africa. But they were slaves.
@craigenputtock Рік тому
This guy gets an F for his understanding of economics and government.
@philshyu5248 Рік тому
... And so that is how Greece has become Europe's economic basket case... 🙄
@davidwhatsapp4678 Рік тому
Hey mate. ᴛʜᴀɴᴋꜱ FOR ᴡᴀᴛᴄʜɪɴɢ have something to share with you msg direct ⬆️✍️.
@richardhubbard2151 Рік тому
Exactly
@alb0zfinest Рік тому
He literally has a PHD in economics, and his books are widely sold, tf are you talking about lol. He understands economics far better than if you spent half your life studying it.
@Avicena-tf5uj Рік тому
@@alb0zfinest his Phd is his brainwashing
@anthonyburks3075 Рік тому
This guy is a prime example of what’s wrong with politics, governments, bureaucracy mindset at its best . Individuals like this is why we are in the situation we are in now and why we have to do something totally different . He is totally programmed
@konreww Рік тому
Yeah. Greeces economy was great in 2015. Best Bitcoin advertisement ever
@ruofengxiu4243 Рік тому
While millions of west and north Europeans bailed out Greece and suffer under the tax rates this guy looks healthy and fresh. Honest work doesn’t pay out a bit.
@RealJoshBinder Рік тому
I miss gareth talking about unbiased objective probabilities
@jasonpost7538 Рік тому
Gareth will not be on Ctypto News for a year guaranteed when he made the prediction gold will be the number one asset this year more than any cryptocurrency
@cryptoMez Рік тому
Y’all need to have Yanis back often
@jakekresh2571 Рік тому
Kitcooooooo 👏
@scottyp3956 Рік тому
“It has nothing to do with the monetary policy, but the supply chain” lol okay
@drip369 Рік тому
You are wrong, yes we live in states that collect taxes and do things for us, but that is on the minority side because most of the taxes collected do not go towards fixing roads, they go towards paying back debts like bonds, social programs that make morale worse, as well as a lot of it goes into the pockets of the politicians so these taxes really aren't representing much of anything other than theft
@betweenshadownlight2208 Рік тому
Governments can create money out of nothing while we have to work and sacrifice to create the same money. Either you live in the developing world where the tyranny is overt or you can live in the developed world where tyranny is covert. If I make a mistake at work, I have to pay for it with time or money. A politician makes a mistake s/he gets a pension.
@angelika1586 Рік тому
ty Mr. Varoufakis the truth teller :)
@SP-cx2qi Рік тому
If people running Greece were anything like this guy, no wonder Greece got itself into a financial mess! He just wants to keep the money tap running..
@SP-cx2qi Рік тому
@@DA-eo8ps Yes, they all keep the taps running, that's why we are all in a similar financial mess!
@Kristofur77 Рік тому
Can this dude be anymore wrong about inflation! Why not print money 24 hours a day and create many government projects if printing money doesn't create inflation
@peaceonearth8693 Рік тому
Quack! So, how did Greece's finances do while this guy was in charge?
@davidwhatsapp4678 Рік тому
Hey mate. ᴛʜᴀɴᴋꜱ FOR ᴡᴀᴛᴄʜɪɴɢ have something to share with you msg direct ⬆️✍️.
@olevmaimets889 Рік тому
Its astounding to hear how confused this politician is! No wonder the world is in the predicament it is in! 32:28 minutes of my life is lost to this stupidity. Thanks David Lin for keeping a straight face throughout this interview!!!
@mannyrichardson Рік тому
Some people cannot live without someone ruling over them. You can keep your government. I prefer freedom and self rule! I guess that I need to buy an island.
@albertorodriguezfernandez5956 Рік тому
He is right regarding the printing money bit. The issue with money printing is massive, that is the main problem and the way the political and corporative elite can control markets.
@Tampa0123456789 Рік тому
Omg yanis got on KITCO news? 😄 haha. Funny to watch since I also followed socialist like yanis and know he is on the other side of KITCO so seeing him on a Libertarians channel is funny. Great channel tho. Put the information on and let us make up our own minds.
@jackturner1446 Рік тому
Great interview. I really enjoyed this perspective of current affairs.
@Stephan2099 Рік тому
David we need you to host a live debate between Yanis Varoufakis and Michael Saylor! CBDC VS. BTC!
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