Why do banks fail? Anti-liberal propaganda video.
Why do banks fail?
Did Silicon Valley Bank go bust because of fractional reserve banking (aka required reserve banking)? Because of the FIAT currency? Or because of… the bad banks? Let's dismantle Leonardo Facco's fantasies piece by piece interviewed by Massimo Mazzucco.
I'll tell you how it went and why Mazzucco didn't interview me.
The video that doesn't explain why banks fail
I have been in contact with Massimo Mazzucco for a few months. In fact, since in his videos he often complains about not being prepared in economics, I wrote to him to send him the EXTRA Easy Explained Economics book. 
CLICK HERE AND BUY THE E-BOOK 
So, a couple of weeks ago he contacted me for a short interview-comment on the issue of recent bank failures in the US and Switzerland.
However, after sending him some of my posts in which I explained my opinion on banks and money, considered scandalous by Mazzucco, he preferred to switch to another interlocutor (more in line with his "editorial line" if you can call it that) who however slipped in an incredible string of nonsense that not even my grandfather when he got drunk in the tavern.
To return to economic stability we need a strong currency (even more than the euro?) and theories of the eighteenth century?
Listening to what Leonardo Facco has to say, it would seem so. In Mazzucco's video interview things are stated such as that if savers lose everything and if the banks infect each other it is due to the effect of the "fractional reserve"; or that in order to have a strong currency, it must be scarce. Facco in fact affirms throughout the interview that it is necessary to return to a "sound currency" and that in order to be such, this must be anchored to the value of gold. And finally he comes to affirm that if on the one hand the Italians should return to the real economy, on the other, to save their savings it would be better for them to invest " in digital gold ".
Yes, you read right: you need to invest in bitcoin!
LAST COPIES! 
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Last but not least, he tried to convince Mazzucco and his audience that economics should be based on the theorems of the Austrian School , as well as on other eighteenth-century theorems categorically denied by history.
Why do banks fail? The video that debunks the lies of the original interview
So I warned Mazzucco that he had hit a colossal shit, or that he had sent his audience a message that went in the opposite direction to his intentions. Besides of course that completely ranting.
After informing Mazzucco that he had published a video made up of inaccuracies, falsehoods and outright contradictions, I was very kindly and humbly urged by him to make a video response which I believe should be shot.
Here it is; disassemble piece by piece every incorrect or inaccurate statement and try to reconstruct reality through precise facts and dates.
It's a bit long, but I find it very useful even listened to… in installments 
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The article Why Do Banks Fail? Anti-liberal propaganda video. comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/perche-le-banche-falliscono-video-anti-propaganda-liberista/ on Fri, 14 Apr 2023 09:35:02 +0000.