Too BIG To Tell | Research on the financial world (Documentary)

TOO BIG TO TELL

Research on the finacial world

documentary

94 min

english version
AUT 2015
www.toobigtotell.eu

director: Johanna Tschautscher

music: Gerald Höfler

book: Johanna Tschautscher, Günther Lainer

camera: Viktor Schaider, Gerhard Mayrhofer, Johanna Tschautscher, Lieselotte Höfler

gopro: Paul Höfler, Lieselotte Höfler, Johanna Tschautscher

editing: Johanna Tschautscher

sound: Gerald Höfler, Lieselotte Höfler, Bernice Maxton Lee

comedyscenes: Günther Lainer, Gerhard Mayrhofer

encoding, grafics: Alexandra Braschel

grafic design: Andrea Ettinger

translation: Peter Jud, Zürich

with:

Dr. Dirk Solte, Peter Konle, Dr. Margrit Kennedy, Graeme Maxton, Dr. Wolfgang Kessler,

Prof. Dr. Friedrich Schneider, Thierry Philipponnat, Joost Mulder, Sven Giegold, Dr. Reinhard Blomert

Topics:
How does the creation of money work?
To understand the financial crisis we have to go back to World War II
Do we need a 700 Trillion Dollar Derivate market?
Investment banks developed new techniques, for example securitisation.
Banks create money out of nothing.
Todays laws are basically made by Lobbyists.
Abolishing interest as a type of income.
Mortgage brokers, acting as middle men, determined who got loans, then passed on the responsibility for those loans on to others.
A loan costs interest, which is a burden for the final consumers and the entrepreneurs.
It became evident that we went to far with the deregulation of the financial market.
Is it possible that a parcel of land worth 50 million is funded for 90 million? Yes.
Accounting, the worst weapon of the financial system.
Why is it that large banks cannot go bankrupt?
Each monetary system that is based on depts and interests has to crash.
This is how the foundation of the worldwide house of cards disintegrated.
We have to find the underlying reasons for these inhumane conditions.
What we are not doing is saying: There is the world we would like to create!
Adam Smith’s idea was that we have a natural desire to help our fellowmen.
In 2030 the total global economic output would have to be spent on interests and return, if the system remains the same.
The global financial system does not in any way depend on sufficient savings in order to grant a loan.
How shall we tame the wild side of economy?
Debts are: money created by the bank.
It was me who produced this new money. And who am I? I’m the debtor.

translation note: The english term “to take out a loan” suggests that somebody loans money from somebody else. In reality, e.g., banks create money whenever they credit a customer account. This new money is a credit, granted by the customer to the bank. This makes deposits a kind of bank debenture, a ‘liability’ from the bank to the person. So both sides, the customer and the bank, are granting credits to each other when a customer “takes out a loan” from the bank. “Real money” produced by a central bank, has rarely been given out. The german term “einen Kredit aufnehmen” fits better. In a free translation this would mean: “to take out a credit”.

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