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Author: JLC Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 771297  
Subject: The Ascent Of Money Date: 12/6/2012 8:52 AM
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I started watching "The Ascent of Money" a couple nights ago after a friend suggested it. Its essentially a history of money and how financial institutions came into being. Its 4 parts, an hour each. I got the DVD from Netflix but you can watch it online.

Last night watched part 3, about risk. The interesting part, it delves into the history of welfare state. Many people, including myself, blame Europe for the advent of cradle to grave government guarantees when in reality it is Japan. Started out as an everyone is a warrior running up to WWII to everyone is on welfare afterwards.

It then goes on to discussing how Chile had devolved into a Marxist hellhole, then revolution, then Pinochet listening to Friedman and bringing the country back to financial stability by (GASP, oh the horrors) cutting spending and privatizing the pension system.

I wonder if our 536 Rulers would watch and learn? Doubt it.


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