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So we made a huge jump from let's say the 12th century
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Hot Money

So we made a huge jump fromlet's say the 12th century when the first assignablenotes came...

So we made a huge jump from
let's say the 12th century when the first assignable
notes came about, to treating debt as an asset that we can just trade
on a global market

Full Transcript

00:00:01.000 --> 00:00:04.603
So we made a huge jump from let's say the 12th century
00:00:04.603 --> 00:00:07.706
when the first assignable notes came about,
00:00:07.706 --> 00:00:10.143
to treating debt as an asset
00:00:10.143 --> 00:00:13.446
that we can just trade on a global market.
Duration
13 seconds
Views
18
Timestamp in Movie
00:38:30
Uploaded
May 25, 2025
Genres
documentary
Production
N/A

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Movie Summary

Former NATO commander Wesley Clark and son explore economic forces linking various sectors, revealing interconnections that can lead to collapse and potential solutions to untangle them.
(slurping beverage) - Hot Money 00:07
(slurping beverage)
The same value is used, not just one time, but two or three - Hot Money 00:09
The same value is used, not just one time, but two or three
It is not going for productive investment in firms. - Hot Money 00:05
It is not going for productive investment in firms.
It is also not going to finance and fund - Hot Money 00:07
It is also not going to finance and fund
At the end of the day, it's our houses, - Hot Money 00:07
At the end of the day, it's our houses,
The IMF has called it "the shadow banking system." - Hot Money 00:07
The IMF has called it "the shadow banking system."
It also doesn't mean that it is necessarily shady and so on. - Hot Money 00:04
It also doesn't mean that it is necessarily shady and s...
It is just that it is shadow because there are no rules. - Hot Money 00:05
It is just that it is shadow because there are no rules.
It's sort of almost the Wild West of the financial sector - Hot Money 00:14
It's sort of almost the Wild West of the financial sect...
It's like you and I say, - Hot Money 00:10
It's like you and I say,
"I'll get a bonus for setting up the insurance. - Hot Money 00:05
"I'll get a bonus for setting up the insurance.
"You'll get a bonus - Hot Money 00:06
"You'll get a bonus
And I figure I could also get those, - Hot Money 00:09
And I figure I could also get those,
- The thing is, it's like the old insurance principle, it's - Hot Money 00:06
- The thing is, it's like the old insurance principle, ...
Can each person in the neighborhood put a $100,000 policy - Hot Money 00:10
Can each person in the neighborhood put a $100,000 policy
(explosion roars) - Hot Money 00:16
(explosion roars)
- The critical derivatives for our financial markets today - Hot Money 00:13
- The critical derivatives for our financial markets today
And the credit default swap is basically - Hot Money 00:21
And the credit default swap is basically
(fire crackling) - Hot Money 00:10
(fire crackling)
- The value of these financial transactions - Hot Money 00:16
- The value of these financial transactions