00:00has found the most difficult problem
00:02that exists in every economy.
00:04And what is the most difficult problem?
00:07And now you will be amazed,
00:09the most difficult problem and the biggest problem
00:11Saving is a fundamental aspect of every economy.
00:17Terrible.
00:19Where we all grow up again,
00:21We all grow up with the idea that
00:23Saving is important, saving, taking precautions
00:25And the younger generations all have to save.
00:27and we have to save for that and oh.
00:30Saving money is the most important thing.
00:32No, saving is the most dangerous thing.
00:36But that's really difficult.
00:39Why is saving so dangerous?
00:41It's quite easy to explain.
00:44Let me explain this using real numbers,
00:45like we have them in Germany.
00:47The mass income of Germans consists of all pensions,
00:49all wages, everything that is paid out
00:51the income of Germans is approximately
00:531200 billion per year.
00:55That's 100 billion per month.
00:58So at the beginning of the month we all get 100 billion.
01:03But where do we get the 100 billion from?
01:04That's the small step you have to take.
01:06One has to ask, where do they come from?
01:07They don't just fall from the sky.
01:09They come from companies and from the state.
01:10These are the main employers,
01:11otherwise there is hardly any practical experience.
01:14So the companies, the state, are paying us 100 billion.
01:18But what do the clever Germans do?
01:20You can see it here in the blue curve.
01:22Everything above zero is a saver.
01:26What does the good German do?
01:27The private household.
01:29The blue curve here.
01:31Well, he contributes 10% of that income.
01:33Back then it was even more
01:34So this is expressed as a percentage of the gross domestic product.
01:37Don't worry about it.
01:38He currently contributes approximately 10% of his income.
01:42He takes it to the bank because he wants to save for it.
01:44He wants to provide for your future.
01:46He has learned that he has to be like a squirrel.
01:50If you're like a squirrel,
01:51Until you do, you are behaving correctly.
01:55He contributes 10% to the bank
01:57and that's where the 10% lies.
01:58And then what?
02:01He spends 90% on goods and services.
02:03So 90% arrive at the end of the month.
02:05are with the companies and the state
02:06came back again.
02:08But 10% is missing.
02:1010 billion are missing every month.
02:16The state and companies would have to...
02:18They would have to pay out another 100 billion,
02:19Because we don't want to lower wages.
02:21We want the same pay as before.
02:24But where will they get the 10 billion from?
02:26which they are now missing?
02:29A simple question, right?
02:33Well, where do the 10 billion come from?
02:39If they don't have them,
02:40only 90% of the 10 billion will be paid out.
02:42Then people will go back to the bank with their 90 billion.
02:44and have next month
02:45Only 81% of companies are returning.
02:48And then what?
02:50Yes, then the economy will collapse.
02:52in a very short time.
02:54For roughly three months, every economy is dead.
02:56Just by saving.
03:00Economy can be killed by austerity measures alone.
03:02in a very short time
03:03simply because there is no demand.
03:04A specific wage will be paid out,
03:06But nothing comes back.
03:07Too little is ever returned.
03:09And that's why there always has to be this,
03:11what is depicted here on this graphic.
03:14There must always be a price to pay for saving.
03:17on the other hand.
03:18In total, it must be,
03:20In my example, 10 billion per month are needed.
03:23will be issued.
03:24But where do they come from?
03:2510 billion per month?
03:26Nobody has one of those.
03:30Yes, they come from there,
03:31There is this wonderful...
03:33modern saying,
03:34They come from the money
03:36that one doesn't have.
03:38You've probably heard of it before.
03:39The Italians want to spend money,
03:40that they don't have.
03:43Those terrible, unreliable guys.
03:45They want to spend money,
03:47that they don't have.
03:47But everyone,
03:48Money always has to be spent
03:49that one doesn't have
03:49because it's lying on the bank.
03:51And how do you get that from the bank?
03:52Well, you have to go there.
03:53and I must say,
03:53Give me a loan.
03:54And if I get a loan,
03:56Am I the debtor?
04:01So that the economy can at least remain halfway alive,
04:03must use the 10 billion in savings
04:05That equates to 10 billion in debt every month.
04:07Then the economy will just barely remain at that level.
04:09that she has.
04:10Because then the companies will get
04:12and the state returns 100 billion
04:14and then they can have another 100 billion
04:15pay wages.
04:17But you need a debtor every month.
04:19amounting to 10 billion.
04:23And that's why there's another simple sentence,
04:25which I will now explain again
04:26based on these figures.
04:27There is no savings without debt.
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