curiousbear

I dont see a Economics forum so posting it here.

First I hesitated to post it here. The tone sounded to have stereotype against American Success, Power & Culture. But there seems to be too much reality, facts and experts view in it.

http://video.google.com/googleplayer.swf?docid=4343898391323537541&hl=en&fs=true

Edit: I hardly understood economics. I always appreciated the infrastructure, development and IP in the US compared to asian countries. The grandeur, richness, gas guzzlers, roads everything was a surprise. It almost sounded like US is the role model. I always wondered how all this is possible? Europe is rich but they certainly DO NOT spend this much resources.

Recently I learnt how countries figure out how much currency they can print and how stock markets arrive thier Index value. I learnt that US back thier currency with Petrol! I was shocked to learn that any two countries in the world has to transact Oil or any commodity in dollars.

So my ultimate understanding is that there can be only one US. And it cant be a ROLE model. And it sounded to me that it will not go for ever. Some where in the system there are reckless and greedy people putting the lives and future of innocent public at stake.

Finally when I saw this video it put all these pieces together in one flow. And it is shocking to understand US managed to be what ever it is. Now if India or China had been in the shoes of US, even they should have done what ever is explained in the video.

So I think there should be an international currency owned by all countries in the world, through an world bank or some institution. It is with this currency all internation trade should happen. I am no expert but I wonder why this world must choose one country's currency as international currency? Well for some reason it did, why would it last for ever?

So the questions
Is US a role model?
Should US dollar be the international currency?
Should Oil & Commodity Exchanges be transacting in US dollars for ever?
Why is it always US so keen in war?
Home loans with interest only EMIs are given in any other countries other than US?
Do (asian) countries park thier savings only in US?

Note: Thanks moderator, I hope I did proper write up this time ...

highdro69

ok, i'm 3 minutes in, and i like this guy. he's pointing out the basic usery of our way of lending and, hell, our culture, which lends credence to his globalization talking points: america is shit if we don't USE "lesser countries," which, as any student of history knows, is the core of imperialism, that the British set forth four hundred years ago. I just wanted to give my props to this video as it friggin grabbed me. I'm going to watch the rest, and i'm sure, ramble some more. but I thank you for finding this vid, I know I will enjoy it.

edit: bear in mind i understand the concept of GDP vs. GNP, but...........

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