Comments posted by LUCKYPAUL

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0 1. LUCKYPAUL commented 9 years ago on video The Banking System, Explained In 6 Minutes

REVOLTINGLY IMMORAL MARXIST PROPAGANDA

Oh, don't you love the banker with the red devil's horns? Yet another poisonous piece of propaganda to brain-wash the masses and put blame on bankers.

The Brit narrator authoritatively states that bankers recklessly "gambled" on risky investments for a quick return. Now ask yourself this question: If you were a banker, with your own privately owned bank, would you "gamble" the bank's money away as the leftist propaganda describes it? Of course not! Unless you are a stupid banker... but bankers are not stupid. So what is the missing piece that every Marxist demagogue conveniently fails to mention?

It's called GOVERNMENT INTERVENTION. In the form of the Federal Reserve, Fannie Mae (FNMA), and Freddie Mac (FHLMC).

The government gave trillions to the bankers and told them to lend it out as real estate loans and credit card loans.

On top of this, the government set the Federal Funds rate (what the banks pay to use the Fed's fake money) at 1% !!

On top of this, the government told the bankers that there was no risk involved, in fact, as soon as the mortgage loans were being created, Fannie and Freddie were buying the loans from the bankers, liberating the bankers from any risk, and giving them more money to make more loans (this practice, by the way, it is still going on today in 2015).

On top of that, the government passed "Equal Opportunity Lending" laws, forcing the bankers to lend the money to people who couldn't pay it back. Then set up ACORN offices in every city to rat on the bankers who didn't give out risky loans, and throw them in jail. ACORN sent all their "clients" to apply for home loans, and told them: "if you don't get your loan approved, come back right away and we will sue the bank". And so they did, so bankers were routinely fined millions (and in some cases billions) if they did not give out risky loans.
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+6 2. LUCKYPAUL commented 9 years ago on video Were the "Dark Ages" really dark?

The Renaissance began in Italy in the late 1200's and not in the late 1400's as he mentioned. It took about 150 years to spread to the rest of Europe because of the isolation of medieval populations, so it didn't happen all over Europe at once. Basically all he's doing is pushing the starting date of the Renaissance to the late 1400's so that he can label all those achievements as belonging to the Dark Ages, and not to the Renaissance.

He forgot to mention the prior 700 years of burning people at the stake for saying anything different than Church dogma, widespread torture and terror by the Inquisition, the shortest lifespan and highest child mortality in human history, plagues, violence, wars, book burnings, and systematic murdering of intellectuals.

The Dark Ages lasted so long because there was no economy. In other words, it was a subsistence economy. Peasants would live off whatever there was left from the harvest after they paid the landlord. There was nothing left to trade. The Renaissance happened because of the advent of a new profession that had disappeared with the fall of the Roman Empire: trade. Probably because of its milder climate, Italy was lucky enough to have a small surplus in production, which sparked this new division of labor and it snowballed from there: suddenly people who were not land owners started accumulating wealth. They were traders and craftsmen. They gradually became powerful like the Medici and other families, and shifted the balance of power away from the Church and its landlords.

This guy Anthony Esolen is an English professor. Why is an English professor lecturing on History? Wouldn't it be better if we let a History professor talk about History?