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England: South Sea Bubble - The Sharp Mind of John Blunt - Extra History - #1
 
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Support us on Patreon! http://bit.ly/EHPatreon Watch more Extra History! http://bit.ly/ExtraHistory Subscribe for new episodes every other Saturday! http://bit.ly/SubToEC Follow us on Facebook! http://bit.ly/ECFBPage Follow us on Twitter! http://bit.ly/ECTweet Follow us on Twitch! http://bit.y/ECTwitch ____________ When Robert Harley steps in as England's new Chancellor of the Exchequer, he discovers that not only is the government deeply in debt, but no one knows quite how much debt it owes. Because vicious political infighting between the Tory and Whig politic parties made it difficult to pass new tax laws, Harley turned to a private financier named John Blunt to help find enough money for England to keep up with its expenses for the year. Using Harley's government resources, Blunt instigated a series of get-rich schemes that drove artificial demand for unsustainable land and lottery investments with tremendous short term gains. Before the year was done, Blunt had successfully covered the shortfall for the government that year - albeit at the cost of driving England's already outrageous debt even higher. ___________ Get the intro music here! http://bit.ly/1EQA5N7 *Music by Demetori: http://bit.ly/1AaJG4H Listen to the outro music here! http://bit.ly/1ERCS9G __________ Extra History - Warring States Japan: Sengoku Jidai Chapter 1: Battle of Okehazama: http://bit.ly/1xgZxfi James Recommends - City Building Games Across the Ages Anno Series (Dawn of Discovery): http://bit.ly/18mJxPg
Views: 1812938 Extra Credits
28) South Seas Bubble of 1720: the First Major Manipulation of Financial Markets
 
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Notes for Economics www.saseassociates.com Next, we will look at the British crisis known as the South Seas Bubble, a crisis that stands as the first major manipulation of financial markets. Until the Crash of 1929, this bubble endured as the classic example of opportunistic self-enhancement. The South Seas Company was formed by Parliament as a British trade concession in 1711. This was a monopoly for areas of the Pacific that were under British rule. The company was a startup firm with no sales and no earnings, only with great prospects. The real prospects centered on market manipulation and insider trading. In the early eighteenth century, Britain had entered its period of imperial prosperity. However, stock ownership remained a matter of privilege that was limited mostly to the aristocracy. Furthermore, women could not inherit land, although females could own stock at that time. A pent-up demand for stock developed because of wide accessibility along with the added benefit that dividends that were paid out of profits went untaxed. Parliament granted the enterprise a monopoly concession along with loaned capitalization of ₤10 million pounds sterling. Publicly unknown at the time, members of Parliament had bought capitalization bonds for South Seas at ₤55. Once the company went public, these investors exchanged each unit for ₤100 of stock in the South Seas Company. However, its inexperienced directors quickly entered into the slave trade, a venture at which they failed. South Seas maintained its stock price in the market despite this misfortune as well as a war with Spain, shipments of goods that were misrouted and lost, and bonuses paid to the directors in a form that diluted the value of shares. Nevertheless, the situation improved in 1719. Britain signed the Peace of Utrecht, a treaty with Spain that enabled British trade with Mexico. Given this newfound prosperity, the directors of South Seas offered to fund the entire British national debt of ₤31 million. Stock prices doubled. Five days after the bill became law, South Seas offered a new issue of stock at ₤300 per share. The company offered a second issue at ₤400. This one rose to ₤550 per share within a month. The directors offered yet another at 10% down, with no payments for one year. Share price continued to rise to ₤1,000. The feasibility of the scheme became secondary as the Greater-Fool Theory took over—speculators would purchase shares, prices would rise, secondary buyers would appear, and the speculators would profit in the after-market. In the summer of 1720, the directors liquidated their own shares. The news of their divestiture leaked out quickly. Share price collapsed and a market panic ensued. The British government narrowly averted the complete erosion of public credit. In response to this threat, Parliament passed the Bubble Act that forbade issuance of stock certificates in any company. In addition, Britain implemented other measures in order to restore confidence. The government confiscated the estates of company directors in an attempt to remunerate South Seas Company investors. Other propositions put forth in Parliament included placing bankers in sacks filled with snakes and throwing them into the Thames River! In summarizing this bubble, let us analyze the events. First, there was a pent-up demand for investment opportunities. Second, the government sponsored a trade-concession monopoly. Third, inexperienced management failed to create any real value for the company. Fourth, war and the entry of new competition exerted external pressures on the firm. Fifth, graft occurred, which involved members of Parliament in an effort to pass legislation that was advantageous to a private company. Sixth, dilutive stock dividends and new (dilutive) stock issues were sold on generous terms and margins while insiders manipulated trading that included the dumping of shares.
Views: 9810 Video Economist
England: South Sea Bubble - Too Big to Fail - Extra History - #2
 
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Support us on Patreon! http://bit.ly/EHPatreon Watch the South Sea Bubble series! http://bit.ly/1xfVN9W Subscribe for new episodes every other Saturday! http://bit.ly/SubToEC Follow us on Facebook! http://bit.ly/ECFBPage Follow us on Twitter! http://bit.ly/ECTweet Follow us on Twitch! http://bit.y/ECTwitch ____________ Frustrated at every turn by the Whig-controlled Bank of England, Harley and Blunt decide to start their own instution: a trading company that will exchange government debt for stock shares. This new South Sea Company will have a monopoly on trade in the rich new lands of South America, but all the ports there are controlled by Spain, with whom Britain is at war. So Blunt pushes the country into a premature and unfavorable peace with Spain, enlisting famous authors to write his propaganda and convincing Queen Anne herself to tip the balance of Parliament in his favor. After the queen dies and the government changes hands, Blunt kicks Harley and his Tory leaders out of the company. He manages to bring King George I himself on board as a ceremonial leader, linking the success of the South Sea Company with the reputation of the monarchy. But while his maneuvering inflates the value of his company's stock, it's never produced anything close to the amount of money he's convinced people to invest in it. ___________ Get the intro music here! http://bit.ly/1EQA5N7 *Music by Demetori: http://bit.ly/1AaJG4H Listen to the outro music here! http://bit.ly/1ERCS9G __________ James Recommends - City Building Games Across the Ages Anno Series (Dawn of Discovery): http://bit.ly/18mJxPg Extra Credits - How High Costs Drive Players Away from F2P Games Free to Play is Currently Broken: http://bit.ly/1AobnQV
Views: 1293764 Extra Credits
The South Sea Bubble (In Our Time)
 
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Melvyn Bragg and his guests discuss The South Sea Bubble, the speculation mania in early 18th-century England which ended in the financial ruin of many of its investors. The South Sea Company was founded in 1711 with a view to restructuring government debt and restoring public credit. The company would ostensibly trade with South America, hence its name; and indeed, it did trade in slaves for the Spanish market even after the Bubble burst in 1720. People from all walks of life bought shares in the South Sea Company, from servants to gentry, and it was said the entire country was gripped by South Sea speculation mania. When the shares crashed and the company collapsed there was a public outcry and many people faced financial ruin, although some investors sold before the crash and made substantial amounts of money. For example, the bookseller Thomas Guy made his fortune and founded a hospital in his name the following year. But how did such a financial crisis develop and were there any lessons learnt following this early example of a stock market boom and bust? With: Anne Murphy Senior Lecturer in History at the University of Hertfordshire Helen Paul Lecturer in Economics and Economic History at the University of Southampton Roey Sweet Head of the School of History at the University of Leicester Producer: Natalia Fernandez.
Views: 705 BBC Podcasts
SOUTH SEA BUBBLE by Charles Mackay - The South Sea Bubble from Popular Delusions
 
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South Sea Bubble by Charles Mackay. The South Sea Bubble from Popular Delusions and the Madness of Crowds - non fiction audiobook. The South Sea Company was a British joint-stock company founded in 1711, created as a public--private partnership to consolidate and reduce the cost of national debt. The company was also granted a monopoly to trade with South America, hence its name. At the time it was created, Britain was involved in the War of the Spanish Succession and Spain controlled South America. There was no realistic prospect that trade would take place and the company never realised any significant profit from its monopoly. Company stock rose greatly in value as it expanded its operations dealing in government debt, peaking in 1720 before collapsing to little above its original flotation price; this became known as the South Sea Bubble. A considerable number of persons were ruined by the share collapse, and the national economy greatly reduced as a result. The founders of the scheme engaged in insider trading, using their advance knowledge of when national debt was to be consolidated to make large profits from purchasing debt in advance. Huge bribes were given to politicians to support the Acts of Parliament necessary for the scheme. Company money was used to deal in its own shares, and selected individuals purchasing shares were given loans backed by those same shares to spend on purchasing more shares. The expectation of vast wealth from trade with South America was used to encourage the public to purchase shares, despite the limited likelihood this would ever happen. The only significant trade that did take place was in slaves, but the company failed to manage this profitably. A parliamentary enquiry was held after the crash to discover its causes. A number of politicians were disgraced and persons found to have profited unlawfully from the company had assets confiscated proportionately to their gains. The company was restructured and continued to operate for more than a century after the Bubble. The headquarters were in Threadneedle Street at the centre of the financial district in London, in which street today can be found the Bank of England. The Bubble Act 1720, which forbade the creation of joint-stock companies without royal charter, was promoted by the South Sea company itself before its collapse. This was an effort to prevent the increasing competition for investors, which it saw from companies springing up around it. (Adapted from Wikipedia) Time Chapter 0:00:00 Part 1 0:46:08 Part 2 1:17:03 Part 3 Read by hefyd.
Views: 4923 Fab Audio Books
England: South Sea Bubble - Buying Out Britain - Extra History - #3
 
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Support us on Patreon! http://bit.ly/EHPatreon Watch the South Sea Bubble series! http://bit.ly/1xfVN9W Subscribe for new episodes every other Saturday! http://bit.ly/SubToEC Follow us on Facebook! http://bit.ly/ECFBPage Follow us on Twitter! http://bit.ly/ECTweet Follow us on Twitch! http://bit.y/ECTwitch ____________ The time has come for Blunt to enact the final act of his scheme: taking on the 31 million pound British debt. When Parliament initially balks at transferring responsibility for that much money to Blunt's insolvent South Sea Company, he bribes them with special deals on his own stock. Despite a legal clause that should have locked the stock price until the company began paying off the debt, Blunt keeps introducing new plans to inflate the stock price and pocket the money for himself. He does everything from selling stocks on layaway to loaning people money so they could buy more stocks from him, creating an artificial demand for South Sea Company stock that drives the company's worth up to 300 million pounds: a staggering ten times the initial value of the already stunning debt it had assumed. His success, founded entirely on speculation with no actual revenue from trade, not only starves out other businesses across Britain but exceeds the total amount of money in the country's entire economy. This bubble can not last. ___________ Get the intro music here! http://bit.ly/1EQA5N7 *Music by Demetori: http://bit.ly/1AaJG4H Listen to the outro music here! http://bit.ly/1ERCS9G __________ James Recommends - City Building Games Across the Ages Anno Series (Dawn of Discovery): http://bit.ly/18mJxPg Extra Credits - How High Costs Drive Players Away from F2P Games Free to Play is Currently Broken: http://bit.ly/1AobnQV
Views: 1178253 Extra Credits
England: South Sea Bubble - Lies - Extra History
 
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Support us on Patreon! http://bit.ly/EHPatreon Watch the South Sea Bubble series! http://bit.ly/1xfVN9W Subscribe for new episodes every other Saturday! http://bit.ly/SubToEC Follow us on Facebook! http://bit.ly/ECFBPage Follow us on Twitter! http://bit.ly/ECTweet Follow us on Twitch! http://bit.y/ECTwitch ____________ No historian is perfect, so it's important we acknowledge our mistakes where we find them (with the help of our viewers, no less)! After we clear up some discrepancies that emerged during the South Sea Bubble series, we turn to answering some common questions that came up during this series on economic history. In a period where financial masterminds like John Blunt engaged in trickery meant to confuse other people and hide his real activities, it's no wonder that many viewers had questions about what insider trading is and how Blunt could endlessly inflate stock prices for his unprofitable company. This is a history show, but we do our best to explain! As a bonus, James also reads Robert Knight's letter to Parliament on the eve of his illegal flight and tells some cool stories about Robert "It was Me" Walpole. ___________ BONUS! Britain Pays Off the South Sea Company Debt: http://nyti.ms/1Qsc1Yf ____________ Get the intro music here! http://bit.ly/1EQA5N7 *Music by Demetori: http://bit.ly/1AaJG4H Listen to the outro music here! http://bit.ly/1ERCS9G __________ Extra History - Sengoku Jidai: Warring States Japan Battle of Okehazama: http://bit.ly/1IUpYw2 Extra Credits - How High Costs Drive Players Away from F2P Games Free to Play is Currently Broken: http://bit.ly/1BzgbnY
Views: 411380 Extra Credits
THE SOUTH SEA TRADING COMPANY
 
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THE SOUTH SEA TRADING COMPANY - MANDELA EFFECT (SOUTH SEA BUBBLE 1720)
Views: 168 RECALL VECTOR
England: South Sea Bubble - It Was Walpole - Extra History - #5
 
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Support us on Patreon! http://bit.ly/EHPatreon Watch the South Sea Bubble series! http://bit.ly/1xfVN9W Subscribe for new episodes every other Saturday! http://bit.ly/SubToEC Follow us on Facebook! http://bit.ly/ECFBPage Follow us on Twitter! http://bit.ly/ECTweet Follow us on Twitch! http://bit.y/ECTwitch ____________ Robert Walpole's attempts to use the South Sea Company scandal to enhance his own ambitions are threatened by the appearance of Robert Knight, a former South Sea employee whose records of corporate bribery implicate Walpole and his friends in Parliament. But faced with threats of retribution if he ever shares these records, Knight flees the country rather than face a public inquiry. Although he gets caught and sent to prison in Antwerp, Walpole deftly engineers his release and escape. With Knight finally gone, Walpole teams up with John Blunt to pin the blame for the South Sea stock bubble on his political opponents, conveniently clearing the way for himself to become essentially the first Prime Minister of England. He also makes sure that all of his own supporters get off easy (if not scot free) for their involvement, and even Blunt walks away from the South Sea Bubble with more money than he started with. ____________ Get the intro music here! http://bit.ly/1EQA5N7 *Music by Demetori: http://bit.ly/1AaJG4H Listen to the outro music here! http://bit.ly/1ERCS9G __________ Extra History - World War I: The Seminal Tragedy The Concert of Europe: http://bit.ly/1pGHnQA Extra Credits - How to Manage Inflation in Virtual Economies MMO Economies: http://bit.ly/1PvIHje
Views: 1062001 Extra Credits
Reinterpreting the First Great Stock Market Crash: South Sea, Mississippi & Windhandel Bubbles
 
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The greatest stock market bubble in history still holds lessons for today. Drawing from his financial research and objects from Yale collections, Professor William Goetzmann, Edwin J. Beinecke Professor of Finance and Management Studies, discusses the finance, art, and culture of the global capital in 1720 and their parallels to the modern era during his lecture at the 2013 Yale Presidential Inauguration Symposium on Friday, October 11, 2013.
Views: 10596 YaleUniversity
The South Sea Bubble of 1720 / Helen J. Paul (University of Southampton)
 
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"Wagnisse": Ringvorlesung des Historischen Instituts im Wintersemester 2015/16 - 25.11.2015
Views: 927 UDEchannel
England: South Sea Bubble - The Bubble Pops - Extra History - #4
 
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Support us on Patreon! http://bit.ly/EHPatreon Watch the South Sea Bubble series! http://bit.ly/1xfVN9W Subscribe for new episodes every other Saturday! http://bit.ly/SubToEC Follow us on Facebook! http://bit.ly/ECFBPage Follow us on Twitter! http://bit.ly/ECTweet Follow us on Twitch! http://bit.y/ECTwitch ____________ With the South Sea Company's value dangerously inflated, Blunt drives one more scheme to raise stock prices - and it finally backfires on him. Early investors (including the famous politician Robert Walpole) seize the opportunity to sell their stock while the value is high, and the general public finally realizes that the South Sea Company has no actual worth. Everyone who didn't sell their stock in the first round finds themselves suddenly bankrupt as the stock value plummets. Even King George, on vacation when disaster strikes, loses a large amount of the royal fortune. Robert Walpole, however, sees this as an opportunity to make himself a hero of the public. Hiding his own involvement in the South Sea Swindle, he cancels all debts owed for the company's stock to help put its public investors back on their feet. Despite this, the public demands an inquiry and Walpole must walk a thin line between his facade as defender of the people and the reality of his, his party, and the King's blatant corruption. ____________ Get the intro music here! http://bit.ly/1EQA5N7 *Music by Demetori: http://bit.ly/1AaJG4H Listen to the outro music here! http://bit.ly/1ERCS9G __________ Extra History - Rome: The Punic Wars I The First Punic War: http://bit.ly/ExtraHistory Extra Credits - What the Future Really Holds for Games Four Realistic Predictions: http://bit.ly/1Dr7jp9
Views: 1062889 Extra Credits
The South Sea Company Asset Bubble of Great Britain Explained in One Minute
 
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The South Sea Bubble is one of the oldest asset bubbles out there and the first ever documented market manipulation example. At first it seemed that the newly formed South Sea Company might put an end to Great Britain's debt problems and Robert Harley, the man in charge of Great Britain's finances, was extremely excited. The South Sea Bubble was possible because people fell for the lies John Blunt fed them about the profitability and potential of the South Sea Company. In reality however, the South Sea Company was anything but a good business and as such, the South Sea Company Asset Bubble ended up leaving a lot of people bitterly disappointed. Just like all other asset bubbles, the South Sea Bubble represents a fascinating lesson when it comes not only to economics but also human nature. Please like, comment and subscribe if you've enjoyed this video. To support the channel, give me a minute (see what I did there?) of your time by visiting OneMinuteEconomics.com and reading my message. Bitcoin donations can be sent to 1AFYgM8Cmiiu5HjcXaP5aS1fEBJ5n3VDck and PayPal donations to [email protected], any and all support is greatly appreciated! Oh and I've also started playing around with Patreon, my link is: https://www.patreon.com/oneminuteeconomics Interested in reading a good book? My first book, Wealth Management 2.0 (through which I do my best to help people manage their wealth properly, whether we're talking about someone who has a huge amount of money at his disposal or someone who is still living paycheck to paycheck), can be bought using the links below: Amazon - https://www.amazon.com/Wealth-Management-2-0-Financial-Professionals-ebook/dp/B01I1WA2BK Barnes & Noble - http://www.barnesandnoble.com/w/wealth-management-20-andrei-polgar/1124435282?ean=2940153328942 iBooks (Apple) - https://itun.es/us/wYSveb.l Kobo - https://store.kobobooks.com/en-us/ebook/wealth-management-2-0 My second book, the Wall Street Journal and USA Today bestseller The Age of Anomaly (through which I help people prepare for financial calamities and become more financially resilient in general), can be bought using the links below. Amazon - https://www.amazon.com/Age-Anomaly-Spotting-Financial-Uncertainty-ebook/dp/B078SYL5YS Barnes & Noble - https://www.barnesandnoble.com/w/the-age-of-anomaly-andrei-polgar/1127084693?ean=2940155383970 iBooks (Apple) - https://itunes.apple.com/us/book/age-anomaly-spotting-financial-storms-in-sea-uncertainty/id1331704265 Kobo - https://www.kobo.com/ww/en/ebook/the-age-of-anomaly-spotting-financial-storms-in-a-sea-of-uncertainty Last but not least, if you'd like to follow me on social media, use one of the links below: https://www.facebook.com/oneminuteeconomics https://twitter.com/andreipolgar https://ro.linkedin.com/in/andrei-polgar-9a11a561
Views: 6634 One Minute Economics
SOUTH SEA BUBBLE by Charles Mackay The South Sea Bubble from Popular Delusions
 
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South Sea Bubble by Charles Mackay. The South Sea Bubble from Popular Delusions and the Madness of Crowds - non fiction audiobook. The South Sea Company was a British joint-stock company founded. Part 1 of Memoirs of Extraordinary Popular Delusions and the Madness of Crowds Volume 1 by Charles MACKAY (1812 - 1889). Complete unabridged audiobook The book chronicles and vilifies its.
Views: 15 Sydney Mariela
Hong Kong’s ‘unofficial mayor’ Hilton Cheong-Leen calls for improved living standards in the city
 
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Subscribe to our YouTube channel for free here: https://sc.mp/subscribe-youtube Hilton Cheong-Leen, now 96, was the first ethnic Chinese chairman of the Urban Council which was responsible for municipal services on Hong Kong Island and Kowloon, including leisure and cultural facilities, and overseeing sanitation and hygiene issues. He also co-founded one of the city’s first political organisations, the Hong Kong Civic Association, in 1954. Over several decades he helped to improve living standards for the city’s poorest and established nine years of free compulsory school education which was extended to 12 years. He is now calling for more attention to be paid to improving living standards rather than political reforms. Follow us on: Website: scmp.com Facebook: facebook.com/scmp Twitter: twitter.com/scmpnews Instagram: instagram.com/scmpnews Linkedin: linkedin.com/company/south-china-morning-post/
Tulip Mania | 3 Minute History
 
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If anyone thinks I should cover a topic please feel free to send a script - [email protected] Thanks to Xios, Alan Haskayne, Lachlan Lindenmayer, William Crabb, Derpvic, Seth Reeves and all my other Patrons. If you want to help out - https://www.patreon.com/Jabzy?ty=h And thanks for the 14,000 subs
Views: 146052 Jabzy
The South Sea Bubble: History's First Stock Market Bubble - Bad Ideas #59
 
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In 1720 a rash of market speculation (or stock-jobbing as it was called at the time) swept through England. Everyone, it seemed was desperate to get their hands on stock in The South Seas Company. Within the span of a year the bubble had rapidly expanded and even more rapidly burst. But what was The South Sea Company, what caused the bubble, and what does any of it have to do with Louisiana? All these questions and more are answered in this episode of Bad Ideas! || More Human Echoes stuff: http://humanechoes.com || Become a member for BONUS PODCASTS: http://bit.ly/1NkSWnQ || Patreon: https://www.patreon.com/HumanEchoes Bad Ideas Podcast on iTunes: http://apple.co/2yrDfyx Buy some T-shirts: http://bit.ly/1NetNNP Follow us on Mixer for all of our live streams: https://Mixer.com/HumanEchoes Listen to Bad Ideas: https://youtu.be/8RDb6jlY_4A Watch Dirt Block: https://youtu.be/MfdHU-E_N70 Watch Dwarf Fortress: https://youtu.be/H2KR9Ny4iy8 You can also follow the Human Echoes Peeps on Twitter! @HumanEchoes @tsouthcotte @albert_berg @josephdevon @ManicPix
Views: 111 Human Echoes
Capitalism and the Dutch East India Company: Crash Course World History 229
 
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Want to help keep CrashCourse going? Consider becoming a Patron and help us keep making awesome content for such awesome people. SUBBABLE SUBSCRIBERS READ FURTHER ↓ https://www.patreon.com/crashcourse In which John Green teaches you about the Vereenigde Oostindische Compagnie, doing business as the VOC, also known as the Dutch East India Company. In the 16th and 17th centuries, the Dutch managed to dominate world trade, and they did all through the pioneering use of corporations and finance. Well, they did also use some traditional methods like violently enforced monopolies, unfair trade agreements, and plain old warfare. You'll learn how the Dutch invented stuff like joint stock corporations, maritime insurance, and futures trading. Basically, how the Dutch East India Company crashed the US economy in 2008. I'm kidding. Or am I? Citation 1: William J. Bernstein, A Splendid Exchange: How Trade Shaped the World. Grove Press. 2008. p. 218 Citation 2: Stephen R. Bown. Merchant Kings: When Companies Ruled the World, 1600-1900. New York. St. Martin’s Press. 2009. p. 28 Citation 3: Bernstein p. 223 Citation 4: Bernstein p. 228 Citation 5: Bown p. 53 IF YOU ARE A CURRENT SUBBABLE SUBSCRIBER Go to https://subbable.com and click the "continue to patreon button." You will be guided through the process to merge your account with Patreon to continue supporting your portfolio of creators. Make sure to use the money in your perk bank by August 1st, 2015. Get yourself something nice you deserve it! Also. you are the best. Yes. You. You are awesome, and we can't thank you enough! FOR MORE INFORMATION ABOUT OUR MOVE TO PATREON WATCH https://www.youtube.com/watch?v=VO_1VbQADW8 Thanks so much for your continuing support on Subbable and we hope to see you on Patreon!
Views: 1421502 CrashCourse
The South Sea Bubble and the Madness of Central Bankers
 
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In this video I talk about the South Sea Company and the bubble of 1721 and compare it to our present day Central Banker induced fiat money bubble. Donations: bitcoin https://blockchain.info/address/14DUCdB6ZPP3su12VeN1BxWgvMHjAVZJSH paypal.me/maneco64 @maneco64 www.patreon.com
Views: 1547 maneco64
What is a Bubble?
 
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Welcome to the Investors Trading Academy talking glossary of financial terms and events. Our word of the day is “Bubble” A Bubble begins when the price of an asset rises far higher than can be explained by fundamentals, such as the income likely to derive from holding the asset. The Chicago Tribune of April 13th 1890, writing about the then mania in real-estate prices, described "men who bought property at prices they knew perfectly well were fictitious, but who were prepared to pay such prices simply because they knew that some still greater fool could be depended on to take the property off their hands and leave them with a profit". Such behavior is a feature of all bubbles. Famous bubbles include tulip mania in Holland during the 17th century, when the prices of tulip bulbs reached unheard of levels, and the South Sea Bubble in Britain a century later, although there have been many others since, including the dotcom bubble in internet company shares that burst in 2000. Economists argue about whether bubbles are the result of irrational crowd behavior perhaps coupled with exploitation of the gullible masses by some savvy speculators or, instead, are the result of rational decisions by people who have only limited information about the fundamental value of an asset and thus for whom it may be quite sensible to assume the market price is sound. Whatever their cause, bubbles do not last forever and often end not with a pop but with a crash. By Barry Norman, Investors Trading Academy - ITA
South Sea Company | Wikipedia audio article
 
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This is an audio version of the Wikipedia Article: https://en.wikipedia.org/wiki/South_Sea_Company 00:03:04 1 Foundation 00:06:55 1.1 Conception of the Company 00:10:21 1.2 Flotation 00:13:40 1.3 The slave trade 00:16:34 1.4 Changes of management 00:20:13 1.5 War 00:20:46 2 Refinancing government debt 00:23:17 2.1 Trading more debt for equity 00:27:55 2.1.1 Public announcement 00:31:09 2.2 Inflating the share price 00:33:00 2.3 Bubble Act 00:36:56 2.4 Top reached 00:38:57 2.5 Recriminations 00:41:17 2.6 Quotations prompted by the collapse 00:42:06 3 A trading company 00:46:17 3.1 Slave trade under the Asiento 00:49:19 3.2 The annual ship 00:51:30 3.3 Arctic whaling 00:54:35 4 Government debt after the Seven Years' War 00:55:27 5 Armorials 00:56:19 6 Officers of the South Sea Company 00:56:43 7 In fiction 00:57:54 8 See also Listening is a more natural way of learning, when compared to reading. Written language only began at around 3200 BC, but spoken language has existed long ago. Learning by listening is a great way to: - increases imagination and understanding - improves your listening skills - improves your own spoken accent - learn while on the move - reduce eye strain Now learn the vast amount of general knowledge available on Wikipedia through audio (audio article). You could even learn subconsciously by playing the audio while you are sleeping! If you are planning to listen a lot, you could try using a bone conduction headphone, or a standard speaker instead of an earphone. Listen on Google Assistant through Extra Audio: https://assistant.google.com/services/invoke/uid/0000001a130b3f91 Other Wikipedia audio articles at: https://www.youtube.com/results?search_query=wikipedia+tts Upload your own Wikipedia articles through: https://github.com/nodef/wikipedia-tts Speaking Rate: 0.8702286176193287 Voice name: en-GB-Wavenet-D "I cannot teach anybody anything, I can only make them think." - Socrates SUMMARY ======= The South Sea Company (officially The Governor and Company of the merchants of Great Britain, trading to the South Seas and other parts of America, and for the encouragement of fishing) was a British joint-stock company founded in 1711, created as a public-private partnership to consolidate and reduce the cost of national debt. The company was also granted a monopoly to trade with South America and nearby islands, hence its name (the modern use of the term "South Seas" to refer to the entire South Pacific was unknown in England at the time). When the company was created, Britain was involved in the War of the Spanish Succession and Spain controlled South America. There was no realistic prospect that trade would take place, and the company never realised any significant profit from its monopoly. Company stock rose greatly in value as it expanded its operations dealing in government debt, peaking in 1720 before collapsing to little above its original flotation price; the economic bubble became known as the South Sea Bubble. The Bubble Act 1720 (6 Geo I, c 18), which forbade the creation of joint-stock companies without royal charter, was promoted by the South Sea company itself before its collapse. In Great Britain, a considerable number of people were ruined by the share collapse, and the national economy greatly reduced as a result. The founders of the scheme engaged in insider trading, using their advance knowledge of when national debt was to be consolidated to make large profits from purchasing debt in advance. Huge bribes were given to politicians to support the Acts of Parliament necessary for the scheme. Company money was used to deal in its own shares, and selected individuals purchasing shares were given loans backed by those same shares to spend on purchasing more shares. The expectation of profits from trade with South America was used to encourage the public to purchase shares, but the bubble prices reached far beyond the profits of the slave trade.A parliamentary enquiry was held after the crash to discover its causes. A number of politicians were disgraced, and people found to have profited unlawfully from the company had assets confiscated proportionate to their gains (most had already been rich men and remained so). The company was restructured and continued to operate for more than a century after the Bubble. The headquarters were in Threadneedle Street at the centre of the financial district in London. At the time of these events the Bank of England also was a private company dealing in national debt, and the crash of its rival consolidated its position as banker to the British government..
Views: 17 wikipedia tts
Int'l Commerce, Snorkeling Camels, and The Indian Ocean Trade: Crash Course World History #18
 
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In which John Green teaches you the history of the Indian Ocean Trade. John weaves a tale of swashbuckling adventure, replete with trade in books, ivory, and timber. Along the way, John manages to cover advances in seafaring technology, just how the monsoons work, and there's even a disembowelment for you Fangoria fans. Crash Course World History is now available on DVD! http://store.dftba.com/products/crashcourse-world-history-the-complete-series-dvd-set Follow us! @thecrashcourse @realjohngreen @raoulmeyer @crashcoursestan @saysdanica @thoughtbubbler Like us! ‪http://www.facebook.com/youtubecrashcourse Follow us again! ‪http://thecrashcourse.tumblr.com Support CrashCourse on Patreon: http://patreon.com/crashcourse
Views: 2330615 CrashCourse
Betting on the Bulbs
 
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From the award-winning immersive film project, Econ in Motion, Betting on the Bulbs is the second short documentary. Adapted from an academic paper by Dr. David Thomas and Dr. Jim McClure from BSU (a paper that was recently published in the Oxford Journal), this film encapsulates the time period fully. It's 17th century Northern Europe, and the newly free United Provinces of Holland is getting richer and richer. Once the upper-class trading of prized tulips is adopted by the middle class and monetized, the clock begins ticking for what would eventually explode in disaster in 1637. This film explores that exciting moment in history while trying to find an economic answer to what created the problem in the first place. Dir. - Devon M. Roddel Asst. Dir. - Mark-Kate Riehle D.o.P. - Ryan Shank Asst. Prod. - Max Harp
Views: 16207 Econ in Motion
MISSISSIPPI BUBBLE - The Mississippi Scheme by Charles Mackay - Non fiction - ECONOMICS
 
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The Mississippi Bubble by Charles Mackay - Non fiction - ECONOMICS AUDIOBOOK The Mississippi Company of 1684 became the Company of the West in 1717, and expanded as the Company of the Indies from 1719. This corporation, which held a business monopoly in French colonies in North America and the West Indies, became one of the earliest examples of an economic bubble. In May 1716, the Banque Générale Privée ("General Private Bank"), which developed the use of paper money, was set up by convicted murderer and millionaire gambler John Law. It was a private bank, but three quarters of the capital consisted of government bills and government-accepted notes. In August 1717, he bought the Mississippi Company to help the French colony in Louisiana. In the same year Law conceived a joint stock trading company called the Compagnie d'Occident (or, The Mississippi Company). Law was named the Chief Director of this new company, which was granted a trade monopoly of the West Indies and North America by the French government. The bank became the Banque Royale (Royal Bank) in 1718, meaning the notes were guaranteed by the king, Louis XV of France. The Company absorbed the Compagnie des Indes Orientales, Compagnie de Chine, and other rival trading companies and became the Compagnie Perpetuelle des Indes on 23 May 1719 with a monopoly of commerce on all the seas. Simultaneously, the bank began issuing more notes than it could represent in coinage; this led to an economic inflation, which was eventually followed by a bank run when the value of the new paper currency was halved. The Mississippi Bubble itself. Law exaggerated the wealth of Louisiana with an effective marketing scheme, which led to wild speculation on the shares of the company in 1719. The scheme promised success for the Mississippi Company by combining investor fervour and the wealth of its Louisiana prospects into a sustainable joint-trading company. The popularity of company shares were such that they sparked a need for more paper bank-notes, and when shares generated profits the investors were paid out in paper bank notes. In 1720, the bank and company were united and Law was appointed by Philippe II, Duke of Orleans, then Regent for Louis XV, to be Comptroller General of Finances to attract capital. Law's pioneering note-issuing bank thrived until the French government was forced to admit that the number of paper notes being issued by the Banque Royale were not equal to the amount of metal coinage it held. The "bubble" burst at the end of 1720, when opponents of the financier attempted to convert their notes into specie en masse, forcing the bank to stop payment on its paper notes. By the end of 1720 Philippe d'Orléans, regent of France for Louis XV, had dismissed Law from his positions. Law then fled France for Venice. (Adapted from Wikipedia) Time Chapter Reader 0:00:00 The Mississippi Scheme Part 1 ink tree 0:30:36 The Mississippi Scheme Part 2 MorganScorpion 1:01:37 The Mississippi Scheme Part 3 MorganScorpion Sourced from Librivox
Views: 3036 Fab Audio Books
Tulip Mania: The First Economic Bubble
 
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In the 17th century single tulips were traded for amounts of money worth canal houses in Amsterdam. This video explains how this happened and why tulips of all things were the centrepiece of this mania. -------------------------------------------------- With Ciceroni we seek to be a guide to European culture and history. We make videos on little known subjects as well as more ubiquitous ones, ranging from current affairs like the European Union, to historic events like the Tulip Mania, and even mythological stories like those of the Greek Gods. In all these videos we strive to present the subjects in a objective manner and within their complex context. Become a Patron: https://www.patreon.com/Ciceroni Follow us on Twitter: https://twitter.com/Ciceroni_EU Like us on Facebook: https://www.facebook.com/CiceroniChannel/
Views: 59040 Ciceroni
TULIP MANIA - A CLASSIC MARKET BUBBLE [Financial Markets History #5]
 
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To understand market bubbles, a good place to start is with 'Tulip Mania' a classic market bubble from the 17th century. This is arguably the first documented speculative market bubble. By going through this event, we can understand the simple mechanics of this type of euphoric speculative boom and subsequent crash. This is episode 5 of our series on the history of the financial markets. It follows on from previous episodes, so we recommend watching the previous videos first. https://www.youtube.com/playlist?list=PLnLi8MK-orCGztTS9xKtKm4XINcfqVqJs Presented by Nicholas Puri ♛ JOIN US - LEARN TO TRADE FOR FREE ♛ Join our free Inner Circle to get access to our 4-part video mini-series teaching you the foundations of our method. http://bit.ly/DuomoInnerCircle ► RECOMMENDED FOR YOU ◄ • The History of The Financial Markets series: https://www.youtube.com/playlist?list=PLnLi8MK-orCGztTS9xKtKm4XINcfqVqJs • The Great Trader series: https://www.youtube.com/watch?v=8ZKTeqmMYS4&list=PLnLi8MK-orCHVYoi_ilh-EEvTPmF6aW2O • Trader motivation videos: https://www.youtube.com/watch?v=T8xD_hRiDyg&list=PLnLi8MK-orCE4H73r9uiGxevo6OxY0YHX • That Time I Lost a Massive Trade: https://www.youtube.com/watch?v=qbqcwptHQH0&list=PLnLi8MK-orCFTsbOZDRgqRnxUZL9XhCux&index=9 • When to Exit a Trade: https://www.youtube.com/watch?v=BVVpUBorsTI&list=PLnLi8MK-orCFTsbOZDRgqRnxUZL9XhCux&index=6 • Duomo Trading Podcast: http://bit.ly/DuomoPodcast ⚑ SUBSCRIBE TO OUR CHANNEL ⚑ Daily videos about the financial markets, trading, investing, economics and other finance related topics: https://bit.ly/DuomoYouTube (Pro tip: don't forget to switch on notifications so you don't miss anything). ★ CHECK OUT OUR FULL ONLINE COURSE ★ Learn our exclusive method in full. 15 hours of video lessons, detailed text modules and lifetime access to our members forum. More info: http://bit.ly/DuomoCourse ✎ CONNECT WITH US ✎ • Website: https://www.duomoinitiative.com • Facebook: https://www.facebook.com/duomoinitiative • Twitter: https://twitter.com/duomoinitiative • Nicholas Puri Twitter: https://twitter.com/nikipuri • Instagram: https://instagram.com/duomoinitiative • Members Forum: https://forum.duomoinitiative.com/ • Email: [email protected] ♻ FREQUENTLY ASKED QUESTIONS ♻ • What are Type 1, Type 2 and Type 3 closes? https://www.youtube.com/watch?v=WxtLx5KmoAE • What are significant levels and how do I trade them? https://www.youtube.com/watch?v=WxtLx5KmoAE • How much money do I need to trade? https://www.youtube.com/watch?v=FZfLfq4GAYI • What broker should I use? https://www.youtube.com/watch?v=s-iC--QXK24 • How do I open a trade and calculate my position size? https://www.youtube.com/watch?v=T7t8zDHjrYo • What is leverage and how does it work? https://www.youtube.com/watch?v=WRL9HRs3wTk ❤ THANK YOU SO MUCH FOR WATCHING ❤ We would really appreciate it if you would share our videos with your friends, family and network. The more people we can reach, the more content we can produce. Thank you and have a great week. The Duomo Initiative is the educational division of PuriCassar AG. Find out more at https://www.puricassar.com ☢ IMPORTANT NOTICE ☢ Don't trust any links or email addresses given in the comments section unless it is definitely from us (be sure it isn't a fake profile). All our email addresses end in @duomoinitiative.com
What is an Asset Bubble?
 
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Welcome to the Investors Trading Academy talking glossary of financial terms and events. Our word of the day is “Asset Bubble” The term 'bubble' refers to an episode where the price of a financial asset rises significantly, often in response to speculation, which results in the asset trading at a substantial premium to its intrinsic value. When the bubble bursts, the price of the financial asset falls sharply leaving investors with reduced wealth. When the prices of securities or other assets rise so sharply and at such a sustained rate that they exceed valuations justified by fundamentals, making a sudden collapse likely - at which point the bubble "bursts". This may impact discretionary spending and hinder economic growth. Central banks attempt to keep an eye on asset price appreciation and take measures to curb high levels of speculative activity which may make prices vulnerable to a sudden correction. The term 'bubble' was first used in 1720 in reference to the South Sea Bubble Crisis and more recently has been applied to Japan in the 1980s and even 'dot-com' companies in the late 1990s. By Barry Norman, Investors Trading Academy - ITA
Sea rice research moves ahead as China works to boost food security
 
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Subscribe to our YouTube channel for free here: https://sc.mp/subscribe-youtube Chinese researchers are making progress in a more than 30-year programme to develop rice that can thrive in tidal flats and saline-alkaline soil. Also known as salt-alkali-tolerant rice, sea rice is being tested on five types of saline-alkaline areas across the country. Researchers also have built an extensive bank of sea rice seeds, as part of the project started in 1986 to improving food security in China. Follow us on: Website: scmp.com Facebook: facebook.com/scmp Twitter: twitter.com/scmpnews Instagram: instagram.com/scmpnews Linkedin: linkedin.com/company/south-china-morning-post/
First Opium War - Trade Deficits and the Macartney Embassy - Extra History - #1
 
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The British Empire's grasp on the Americas was slipping right at the time when they needed those resources most. The massive amounts of tea they imported from China had created a huge trade deficit, but the Chinese were reluctant to let any Europeans trade outside of the Canton port strictly controlled by the Hong. So Britain sent a formal embassy led by Earl George Macartney. Support us on Patreon! http://bit.ly/EHPatreon --- (Episode details below) Grab your Extra Credits gear at the store! http://bit.ly/ExtraStore Subscribe for new episodes every Saturday! http://bit.ly/SubToEC Learn about the disastrous Macartney Embassy that tried and failed to improve British trade relations with China: http://bit.ly/28Ro4B1 Play games with us on Extra Play! http://bit.ly/WatchEXP Talk to us on Twitter (@ExtraCreditz): http://bit.ly/ECTweet Follow us on Facebook: http://bit.ly/ECFBPage Get our list of recommended games on Steam: http://bit.ly/ECCurator ____________ In 1792, Great Britain had just come out of an expensive war that cost them their control over many of their colonies in North America. Other wars had also cost them their access to the silver mines of South America, which had been helping fund so much of their trade with the Qing Dynasty of China. European traders all wanted greater access to China, but the Emperor was wary of letting outsiders too far into his country and kept them all penned up at the port of Canton, which was strictly regulated by the Hong business group. A flourishing blackmarket trade grew, but Britain wanted more. One trader, acting on his own initiative, grew bold enough to approach Beijing and attempt to get a hearing over his trade grievances, but the Chinese considered this a huge breach of protocal and an offense to the Emperor. Britain had to do something, however: they imported over 10 million pounds of tea each year, equal to 10% of the government's annual spending, and the fact that China did not have anywhere near as great an interest in British products meant that they were running an enormous trade deficit they could no longer sustain. The Crown appointed an official envoy, Earl George Macartney, with orders to end the Canton system, establish an embassy, and acquire rights to an island that would be under British control in the same way that the Porutuguese controlled Macao. The mission failed spectacularly. Although Macartney got permission to sail north and meet the Qianlong Emperor in his summer palace at Jehol, he refused to perform the traditional kowtow which was required upon meeting the Emperor. He presented gifts from the British court, but the Chinese interpreted these gifts as tribute, not trade enticements, and decided they had no need for nor interest in what he offered. Since he failed to get them to agree to any of his three requests, Britain wanted to find another way to address the trade imbalance with China. Soon, this would lead them to start bringing in opium. ____________ ♪ Get the intro music here! http://bit.ly/1EQA5N7 *Music by Demetori: http://bit.ly/1AaJG4H ♪ Get the outro music here! http://bit.ly/23isQfx *Music by Sean and Dean Kiner: http://bit.ly/1WdBhnm
Views: 2525344 Extra Credits
The biggest corruption scandal in Latin America’s history
 
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And possibly the whole world. Subscribe to our channel! http://goo.gl/0bsAjO In 2014, the largest corruption scandal in Latin America’s history erupted in Brazil. It involved bribes between Petrobras, the largest state-owned oil company on the continent, and dozens of engineering firms. It also involved politicians, including three Brazilian presidents, Lula, Dilma Rousseff, and Michel Temer, as well as almost a third of Brazil’s congress. Politicians all over Latin America were found guilty of taking bribes and profiting immensely from infrastructure and energy projects all over the continent. The scandal hit places like Itaborai especially hard. The companies involved were fined billions of dollars and laid off hundreds of thousands of workers as their projects abruptly stopped. Four years later, Brazil is still dealing with the fallout. Vox.com is a news website that helps you cut through the noise and understand what's really driving the events in the headlines. Check out http://www.vox.com. Watch our full video catalog: http://goo.gl/IZONyE Follow Vox on Facebook: http://goo.gl/U2g06o Or Twitter: http://goo.gl/XFrZ5H
Views: 1350695 Vox
There has been a 'debt explosion' in China for a decade, expert says
 
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Patrick Chovanec, managing director at Silvercrest Asset Management, discusses a slowdown in China's Shanghai Composite, which hit its lowest levels since 2014.
Views: 5941 CNBC Television
Zenabis Global, Pond Technologies, Cognetivity Neurosciences, Braingrid - Midas Letter RAW 149
 
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Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. Fraser Toms and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. 0:00 - Macroeconomics and Cannabis Analysis with Fraser & Ed -flat -S&P: downward sloping trend -Cantech conference 5:12 - Midas Letter News -Organigram (CVE:OGI) deal with Valens -Heritage Cannabis Holdings Corp (CNSX:CANN) introducing plants to grow room -Flower One (CNSX:FONE) deal with Huxton in Nevada -The Green Organic Dutchman (CNSX:TGOD) announced Danish license for subsidiary Kund Jepsen -Emerald Health (CVE:EMH) joint venture Emerald Health Naturals announces Whole Foods distribution -Westleaf Inc (CVE:WL) secures two additional retail stores in Saskatchewan -Green Growth Brands Inc (CNSX:GGB) announces Brian Logan as new CFO 8:14 - Macroeconomics and Cannabis Analysis with Fraser & Ed - not a lot of cannabis companies up today; -Green Growth Brands (CNSX:GGB) chart: downward trend -HMMJ chart: huge day yesterday; correction today -gold ETF chart: three good days for gold in a row 13:34 - Zenabis Global Inc (CVE:ZENA) (FRA:2VV) CEO Andrew Grieve explains how the company brought together an experienced cannabis company, Sun Pharm, and a successful propagation company, Bevo Agro, when the two entities merged last fall. Zenabis recently acquired 51 percent of Hillsboro Corp Inc (“True Buch”), a beverage company known for True Buch Kombucha, in anticipation of the legalization of edible products. 25:23 - Macroeconomics and Cannabis Analysis with Fraser & Ed -military discipline and the business world 26:56 - Q&A: Where is cannabis an indigenous plant? 27:37 - Pond Technologies Holdings Inc (CVE:POND) (OTCMKTS:IOGIF) CEO Steve Martin shares details about the Cantech Investment Conference and provides an update on the company’s acquisition of Regenurex. 35:21 - Q&A: answer: a) Central and South Asia 36:11 - Macroeconomics and Cannabis Analysis with Fraser & Ed -small recovery throughout the day -Emerald Health (EMH) chart: big candle yesterday, big volume, bug wick today (don't like) -Israel: exporting cannabis now -International Cannabrands (CNSX:JUJU) chart: given a lot back recently 42:14 - Q&A: what percentage of lottery winners in the US end up bankrupt? 43:14 - Cognetivity Neurosciences Ltd (CNSX:CGN) (OTCMKTS:CGNSF) (FRA:1UB) creates cognitive testing technology for early and quick dementia detection. COO Tom Sawyer sees a bifurcation in the market for Cognetivity’s technology between clinical and non-clinical use. 48:33 - Q&A: answer: D) 70% 49:27 - Macroeconomics and Cannabis Analysis with Fraser & Ed -lotteries -South Sea Bubble -Slang (SLNG) started trading today, opened at $1.50; trading around $1.95 -Slang chart: traded 10 million shares; finished at $1.99 (had a $0.05 round a couple years ago) 1:02:08 - Video - Best Buds - top 5 strains of the week with Adamo Barbieri 1:06:34 - Braingrid Ltd (CNSX:BGRD) is a wireless agricultural monitoring company that provides real-time updates for cannabis cultivators. CEO Michael Kadonoff discusses Braingrid’s recently announced partnership with Isolocity, a software company providing manufacturing solutions. 1:13:15 - Macroeconomics and Cannabis Analysis with Fraser & Ed -This week: Blockstrain, Anthony Dukacz, First Republic, Niel Marotta Indiva, Flowr, 48North's Alison Gordon, continue CanTech coverage -Cantech conference, gaming entering the space -not a lot of publicly trading companies in the space -esports is huge -make money on a speculative bubble get out and stay out Braingrid chart: quadrupled in 3 days, on big volume ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter
Views: 1651 Midas Letter RAW
Tulipmania III: How Financial Bubbles Burst
 
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The tulip bulbs had risen to tremendously high prices. More and more people joined the tulip trade hoping to buy a couple of bulbs now and sell them for a profit later. But the price only increased because people were expecting it to increase. ----------------------------------------------------------------------- Like & Share! Facebook: https://www.facebook.com/averythingchannel/ Patreon: https://www.patreon.com/AveryThing -----------------------------------------------------------------------
Hong Kong’s Cheung Chau bun festival 2019 ends on Buddha's Birthday
 
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Subscribe to our YouTube channel for free here: https://sc.mp/subscribe-youtube The annual Bun Festival came to a close on Hong Kong’s island of Cheung Chau wrapping up as the city celebrated a public holiday for Buddha's Birthday on May 12, 2019. The five-day event included traditional lion dances, parades and a competitive scramble up a tower covered with lucky buns. Follow us on: Website: scmp.com Facebook: facebook.com/scmp Twitter: twitter.com/scmpnews Instagram: instagram.com/scmpnews Linkedin: linkedin.com/company/south-china-morning-post/
John Law and the Mississippi bubble
 
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In this animated short, Richard Condie offers up a history lesson about one of the most sensational get-rich-quick schemes that took place in France over 200 years ago. With economist John Law at the helm, the plan was to open a bank and exchange bank notes for gold at wildly inflated share prices to mask the fact that the country's gold had been depleted in the building of Louis XIV's palace. When the inevitable rush to cash in the notes takes place, poor John Law is left broke and broken-hearted.
Views: 29526 zbigniewzapora
Tulipmania II: "The price can only go up!"
 
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In the 1630s the tulip trade started to change. And one change led to another, until eventually the whole thing had become unsustainable and the entire tulip trade would eventually collapse. So let’s look at how this started. ----------------------------------------------------------------------- Like & Share! Facebook: https://www.facebook.com/averythingchannel/ Patreon: https://www.patreon.com/AveryThing ----------------------------------------------------------------------- So at this point, in 1634, people had slips of paper stating the ownership of a tulip bulb. Remember how I said earlier that traders would only buy and sell tulips while they are in bloom, so they can assess the quality? Well, with a slip of paper you could much more easily trade tulip bulbs. You no longer needed to wait until a flower bloomed, you could now sell it at any time you wanted. And this is the second major change in the tulip trade. Before, tulip trading was highly seasonal. People would come in, they would look at the tulip, and then the flower would be sold. But now, you could trade it at any time you wanted. So if a particular brand of tulips generally looks good, then you’d pay whatever the price of that particular brand of tulip is at that moment. This makes sense. If a particular breed was worth 10 Guilders at the time, you could buy that breed knowing that this flower was probably around 10 Guilders anyway as breeds don’t vary that much. That makes sense. We do the same now when we buy online. We don’t go to the warehouse to check if the smartphone you want to buy is really as good as we’ve been told, we simply trust that a smartphone is a certain quality and it is worth a certain amount of money. Simple… well, not really… But before we delve further into the pit of financial collapse, let’s have some trivia to break up this video. Tulips would often be named after the owner or city, with words added to suggest high quality such as general or admiral. And as the price for tulips increased, so did the extravagance of naming them. In order to make their bulb sound ever more impressive, there were tulips such as general of generals of Gouda... because one general wasn't good enough... apparently. As someone working in marketing, I can respect this type of naming system. Okay, so people are now trading slips of paper stating ownership of a bulb. And as a result, people were trading more and more. Prices were soaring at this point. And this led to the third major change. When people heard of the insane amount of profits tulip traders were making, they wanted in on the action. So many new traders entering the tulip market changed everything about the tulip trade. And as prices grew, more and more people who knew nothing about tulips wanted to get into the profitable tulip trade. So people who knew little about tulips started buying tulips with the idea they could then sell it for a profit in the future, without ever wanting to own a tulip themselves or plan to make profit on them that was sustainable. They weren't interested in tulips, they were interested in profits. And these new traders changed the tulip trade. It was no longer about a single bulb or a particular breed of tulip. No. From now on traders were far more interested in buying large amounts of tulips in order to make the most profit. now, not all tulips were equal and each breed had its own price. But it was no longer about the quality for each individual tulip bulb. Futures Contracts which previously told you, you owned a single bulb, now turned into futures stating you owned 10 or 50 bulbs. And so, with people who knew almost nothing about tulips, buying large sums of tulips while being told that the price can only go up...! If you remember my example of bitcoin in the last episode, you may have already guessed where this is going. Prices grew faster and faster. They began to skyrocket by the end of 1636, a few months before the collapse of the tulip prices. Within three months individual bulbs were sold dozens of times, and increasing in price more than ten-fold. And the prices for cheaper bulbs increased as much as twenty-fold. All in the space of three months. Even the most common bulbs, the ones nobody really cared about before, were now sold for large sums. By this point, a single bulb was able to purchase a large house. Or if you got a really valuable one, you could buy an entire villa. This was the height of Tulipmania, the prices were now so high that you could buy an entire street for only a couple of tulip bulbs.
It's time to draw borders on the Arctic Ocean
 
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Why Russia wants to own the North Pole. Follow Johnny to stay up to date: Instagram: https://www.instagram.com/johnnywharris Facebook: https://www.facebook.com/johnnyharrisvox Vox Borders Episodes: 1. Haiti and the Dominican Republic ( https://youtu.be/4WvKeYuwifc) 2. The Arctic & Russia (https://youtu.be/Wx_2SVm9Jgo) 3. Japan & North Korea (https://youtu.be/qBfyIQbxXPs) 4. Mexico & Guatemala (https://youtu.be/1xbt0ACMbiA) 5. Nepal & The Himalaya (https://youtu.be/ECch2g1_6PQ) 6. Spain & Morocco (https://youtu.be/LY_Yiu2U2Ts) The ice in the Arctic is disappearing. Melting Arctic ice means new economic opportunities: trade routes in the Arctic ocean, and access to natural resources. Because of this, the Arctic nations are now moving to expand their border claims. Russia has shown that it’s the most ambitious, using a potent combination of soft power and military buildup to advance its agenda. They’ve said the Arctic is rightfully theirs. Check out more arctic maps from IBRU, Durham University, UK: http://www.durham.ac.uk/ibru/resources/arctic / Vox Borders is a new international documentary series presented by Emmy-nominated videojournalist Johnny Harris. For this series, Johnny is producing six 10-15 minute documentaries about different borders stories from around the world.
Views: 2145430 Vox
Joe Biden’s Climate Change Ideas Are Centrist Nonsense
 
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Joe Biden said recently that he wants to find a “common ground” solution to climate change, which really means that he isn’t going to do anything about the problem. There is no middle ground on climate change – either we act or we let the planet pass the point of no return. This problem is completely fixable, but not if we try to reach a middle ground with oil companies and others who profit off the destruction of the planet. Ring of Fire’s Farron Cousins discusses this.   Link – https://www.washingtonpost.com/politics/2019/05/10/joe-bidens-baffling-misread-climate-change/?utm_term=.dfd37390539e   Become a member today!: https://www.youtube.com/channel/UCYWIEbibRcZav6xMLo9qWWw/join Support us by becoming a monthly patron on Patreon, and help keep progressive media alive!: https://www.patreon.com/TheRingofFire Spread the word! LIKE and SHARE this video or leave a comment to help direct attention to the stories that matter. And SUBSCRIBE to stay connected with Ring of Fire's video content! Support Ring of Fire by subscribing to our YouTube channel: https://www.youtube.com/theringoffire Be sociable! Follow us on: Facebook: http://www.facebook.com/RingofFireRadio Twitter: http://www.twitter.com/RingofFireRadio Google+: http://plus.google.com/118415831573195648557 Instagram: https://www.instagram.com/ringoffirenetwork/ Follow more of our stories at http://www.TROFIRE.com Subscribe to our podcast: http://www.ROFPodcast.com *This transcript was generated by a third-party transcription software company, so please excuse any typos. On Friday, Reuters reported the Joe Biden and his presidential campaign, which is still polling in first place no matter which poll you look at. Uh, they're, they're gonna try to come up with some kind of middle ground approach to climate change. They want to find common ground amongst all parties on how best to save the planet. Yeah. Isn't that the kind of feel good, wonderful campaign we've been waiting for after years of Donald Trump's just plain unpleasantness. Let's all get along. Let's find that common ground. Let's have fossil fuel companies sit down at the table with environmentalists and then whatever each side says, we'll come up with something in the middle. Cause that's totally going to solve the climate problem, right? No. Likey has on so many other issues. Joe Biden, absolutely misfired on the issue of climate change, which really is the most important issue in this election. We're running out of time, but there is still time. Okay, we can fix this problem, we can solve it, we can reverse it. And we can be revered as the generation of American citizens as a whole who averted catastrophe. But we don't have much time. We could fix it. But common ground, middle ground, whatever you want to call it, isn't gonna fix it. Guess who shouldn't have a say at the table? The people who caused the problem. That's the bottom line. We do not need to hear from fossil fuel companies. We don't need to hear from the frackers. We don't need to hear from anyone who's made a dollar off of this crisis. The people we need to hear from are the scientists and engineers who know what the hell they're talking about and know how to get us to a solution. That's pretty much it, right? We need the scientist to tell us how long we have and what needs to happen. You know, our mission goals and all those kinds of things. And then the engineers to tell us how to rebuild the energy infrastructure to support renewable energy, to deliver it a fashion, uh, efficiently. We already know that costs are coming down over renewable energy. It's now more affordable and we need the workers possibly hear me out on this crazy idea. Take the people who are currently working down there in the coal mines with pick axes, you know, extracting that Cole and maybe instead put them to work building solar panels, maybe invest in some kind of public works project that pays for the retraining, pays great wages for these people, gets them out of the coal mines. #rof #trofire #theringoffire #progressivenews
Views: 7301 The Ring of Fire
Why fossil free is a movement - VPRO documentary
 
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Why is fossil free a movement? Why are people coming together to create a fossil free movement and think of the fossil fuel industry as overvalued? A documentary that shows a movement that believes in a fossil free future. After the climate summit in Paris there will be long and difficult negotiations about how to deal with the problems of climate change. A growing group of people has lost confidence in the political system coming up with sufficient measures in time. They target the financial sector and organize campaigns towards pension funds, churches, university and governments to withdraw their investments in oil, coal, and gas producing companies. In other words, they want to divest from companies that profit from climate change. This divestment movement no longer trusts politicians to tackle climate change. They now focus on the financial sector and receive help from unexpected sources. Big banks like HSBC, Citibank and the regulating Bank of England recently started to warn against the so-called ‘carbon bubble’. Investing in coal, oil and gas not only causes temperatures to rise, but it also involves substantial financial risks, for pensions for example. The trust that politicians will come up with a solution for climate change is waning. A rapidly growing group of concerned citizens is looking for other ways to tackle climate change. They now focus on the financial world, because they believe that there is at least as much influence to be found here as in governments. Pension funds, churches and universities are called on to withdraw their investments in fossil fuels. Including: Corien Wortmann-Kool (CEO ABP), Vatan Hüzeir (co-initiator of ABP Fossil Free), Ella Lagé (campaigner for Fossil Free Berlin) and Bob Litterman (hedge fund manager and former Head of Quantitative Trading at Goldman Sachs). Original title: Fossielvrij Originally broadcasted by VPRO in 2015. © VPRO Backlight November 2015 On VPRO broadcast you will find nonfiction videos with English subtitles, French subtitles and Spanish subtitles, such as documentaries, short interviews and documentary series. VPRO Documentary publishes one new subtitled documentary about current affairs, finance, sustainability, climate change or politics every week. We research subjects like politics, world economy, society and science with experts and try to grasp the essence of prominent trends and developments. Subscribe to our channel for great, subtitled, recent documentaries. Visit additional youtube channels bij VPRO broadcast: VPRO Broadcast, all international VPRO programs: https://www.youtube.com/VPRObroadcast VPRO DOK, German only documentaries: https://www.youtube.com/channel/UCBi0VEPANmiT5zOoGvCi8Sg VPRO Metropolis, remarkable stories from all over the world: https://www.youtube.com/user/VPROmetropolis VPRO World Stories, the travel series of VPRO: https://www.youtube.com/VPROworldstories VPRO Extra, additional footage and one off's: https://www.youtube.com/channel/UCTLrhK07g6LP-JtT0VVE56A www.VPRObroadcast.com Credits: Director: Martijn Kieft Research: Robert Kosters Producer: Jeroen Beumer Commissioning editors: Marije Meerman/Doke Romeijn English, French and Spanish subtitles: Ericsson. French and Spanish subtitles are co-funded by European Union.
Views: 7322 vpro documentary
China succeeds in mining flammable ice in South China Sea, may lead to global energy revolution
 
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China has succeeded in collecting samples of combustible ice in the South China Sea, a major breakthrough that may lead to a global energy revolution, Minister of Land and Resources Jiang Daming said Thursday. This is China's first success in mining flammable ice at sea, after nearly two decades of research and exploration, the minister said at a trial mining site in the Shenhu area of the South China Sea Thursday. Combustible ice usually exists in seabed or tundra areas, which have the strong pressure and low temperature necessary for its stability. It can be ignited like solid ethanol, which is why it is called "combustible ice." One cubic meter of "combustible ice", a kind of natural gas hydrate, is equal to 164 cubic meters of regular natural gas.
First Opium War - The Righteous Minister - Extra History - #2
 
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Opium was illegal in China, but that didn't stop the East India Company from manufacturing it for the black market. The Chinese emperor appointed an official, Lin Zexu, to stop it. He seized and burned huge opium caches held by British merchants, and ultimately ordered the British out of China entirely. Instead, they set up base on a barren island that would become known as Hong Kong. Support us on Patreon! http://bit.ly/EHPatreon --- (Episode details below) Grab your Extra Credits gear at the store! http://bit.ly/ExtraStore Subscribe for new episodes every Saturday! http://bit.ly/SubToEC Learn about the disastrous Macartney Embassy that tried and failed to improve British trade relations with China: http://bit.ly/28Ro4B1 Play games with us on Extra Play! http://bit.ly/WatchEXP Talk to us on Twitter (@ExtraCreditz): http://bit.ly/ECTweet Follow us on Facebook: http://bit.ly/ECFBPage Get our list of recommended games on Steam: http://bit.ly/ECCurator ____________ The tea trade flowing from China had left the British government in staggering debt. They had loaned huge amounts to the Honourable East India Company (EIC) to conquer India, and to pay their debts, the EIC turned that land into poppy fields and manufactured opium in huge quantities. Since China had banned the opium trade, the EIC set up a market in Calcutta (part of their Indian territory) and turned a blind eye to the black market traders who smuggled it into China. By 1839, over 6.6 million pounds of opium were being smuggled into China every year. The Chinese DaoGuang Emperor appointed an upright official named Lin Zexu to halt this opium trade. Lin orchestrated a massive campaign to arrest opium traders, force addicts into rehab, and confiscate pipes. He even laid siege to British warehouses when the merchants refused to turn over their opium supply, instead taking it all by force and burning it. The outraged merchants sought redress from their government, but although the Chief Superintendant Charles Elliot promised them restitution, the government never had any intention of paying them back. Amid the unrest, two British sailors brutally murdered a Chinese man. Lin Zexu demanded their extradition, but Elliot insisted on trying them aboard his ship and sentencing them himself. Lin Zexu had enough. He halted the British food supply and ordered the Portuguese to eject them from Macau. They retreated to a barren island off the coast (now known as Hong Kong). Since the island could not support them, Elliot petitioned the Chinese to sell them food again. He received no response. Then he sent men to collect it directly, but on their way back they were halted by the Chinese navy, and the first engagement of the Opium Wars began. ____________ ♪ Get the intro music here! http://bit.ly/1EQA5N7 *Music by Demetori: http://bit.ly/1AaJG4H ♪ Get the outro music here! http://bit.ly/23isQfx *Music by Sean and Dean Kiner: http://bit.ly/1WdBhnm
Views: 1904728 Extra Credits
Feature History - Opium Wars
 
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Welcome to Feature History, featuring the Opium Wars, western imperialism, and this fancy new intro and vignette. Patreon https://www.patreon.com/FeatureHistory --------------------------------------------------------------------------------------------------------- The super sexy stuff like animation, voice, and script are all by the super sexy me. The music is Anamalie and Clash Defiant, both by Kevin MacLeod Twitter: https://twitter.com/Feature_History
Views: 684386 Feature History
China...If They Pull the Plug, We're Screwed
 
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If God forbid war breaks out over the ongoing territorial dispute in the South China sea - America will be totally hamstrung. For more information on the stories we've covered visit our websites at thomhartmann.com - freespeech.org - and RT.com. You can also watch tonight's show on Hulu - at Hulu.com/THE BIG PICTURE and over at The Big Picture YouTube page. And - be sure to check us out on Facebook and Twitter!
Views: 841706 The Big Picture RT
William Deringer
 
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William Deringer is a historian of economic knowledge. He will receive his PhD in the History of Science from Princeton University in summer 2012. At Princeton, he received the Porter Ogden Jacobus Fellowship for 2011-12, the University's highest award given for graduate studies. His teaching and research interests include the history of political economy, financial history, and the history of mathematical thinking, with a particular interest in Britain and the British Empire in the 17th-18th centuries. Deringer's dissertation, Calculated Values: The Politics and Epistemology of Economic Numbers in Britain, 1688-1738, investigates how Britons used numerical calculation to question, understand, and govern the startling economic changes they underwent in the half-century after the 1688 Revolution. The period witnessed the emergence of many seemingly modern economic forces: a powerful military-fiscal state, increasingly global trade, and vibrant financial markets. Yet during this period of "financial revolution," Britain also lacked modern structures of economic expertise, and in the absence of economic PhDs and CPAs, novel analytical problems about fiscal policy, trade, and finance were contested in the halls of Parliament and in the public press. Self-appointed experts and political critics built creative calculations to overcome informational asymmetries and critique political leaders they distrusted, creating a new style of distinctively quantitative political economy in the process. Calculated Values reconstructs the conjoined political and epistemological issues at play in these calculations by examining the period's most significant computational controversies, such as the disputes over monarchical budgeting in the early 1690s, the calculation of the "Equivalent" payment made at the Anglo-Scottish Union of 1707, and the Anglo-French "balance of trade" controversy of 1713. Methodologically, Deringer's works relies heavily on the close reading of the numerical texts of the past, excavating historical computations and reconstructing their internal logic in their own, contextualized terms. Deringer has a special interest in the history of financial knowledge, and in the mutual construction of computational practices, market behaviors, and ethical standards in the development of financial capitalism. A substantial section of Calculated Values is devoted to the study of early-modern Britain's first dramatic financial crisis, the "South Sea Bubble" of 1720. Deringer explores the range of plausible contemporary computations that sought to assess the "real" and "intrinsic value" of South Sea Company Stock around 1720. His work seeks to contextualize what it meant to be economically "rational" in different historical contexts, and to examine how political, cultural, and moral forces shaped those definitions of rationality. At the Society of Fellows, Deringer plans to revise Calculated Values for publication and to begin work on a new project-a broad, diachronic study of how financial value has been understood, calculated, and taught from the 18th-20th centuries. He also plans to continue work on a shorter project, exploring the "mercantilist" circulation of elite mathematical intelligence in Restoration England. In 2012-13, he will teach Contemporary Civilization.
Views: 297 SoF/Heyman
RAY DALIO: Bitcoin is a speculative bubble
 
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Business Insider CEO Henry Blodget sat down with Ray Dalio, the chairman and co-CIO of Bridgewater Associates and author of the newly released book "Principles: Life and Work." Blodget asks Dalio about Jamie Dimon's recent comments referring to bitcoin as a fraud. Dalio says bitcoin is not an effective medium of exchange, calls the currency a speculative bubble, and says even the privacy aspect will be stress tested. -------------------------------------------------- Follow BI Video on Twitter: http://bit.ly/1oS68Zs Follow BI on Facebook: http://bit.ly/1W9Lk0n Read more: http://www.businessinsider.com/ -------------------------------------------------- Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.
Views: 37175 Money Insider
The Triangle Shirtwaist Fire - Horror in Manhattan - Extra History
 
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A throwaway cigarette landed on a pile of cloth. 146 workers died from the resulting fire. But this tragedy motivated citizens and politicians to take a stand for workers' rights, creating a far safer world that we still live in over a century later. Support us on Patreon! http://bit.ly/EHPatreon (--More below) Grab your Extra Credits gear at the store! http://bit.ly/ExtraStore Subscribe for new episodes every Saturday! http://bit.ly/SubToEC Play games with us on Extra Play! http://bit.ly/WatchEXP Talk to us on Twitter (@ExtraCreditz): http://bit.ly/ECTweet Follow us on Facebook: http://bit.ly/ECFBPage Get our list of recommended games on Steam: http://bit.ly/ECCurator ____________ ♪ Get the intro music here! http://bit.ly/1EQA5N7 *Music by Demetori: http://bit.ly/1AaJG4H ♪ Get the outro music here! http://bit.ly/23isQfx *Music by Sean and Dean Kiner: http://bit.ly/1WdBhnm
Views: 812443 Extra Credits
Australian Housing Market Update - January 2019
 
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Australian Housing Market Update - January 2019 In this video Martin North of Digital Finance Analytics & I go over the top 10 data points affecting Australian Housing Market conditions. This will be a new regular segment on the show if you like our discussion. We'll also examine the Australian economy and what we can expect moving forward. #Australia #Housing #RealEstate. Martin North: Youtube: https://www.youtube.com/c/WalkTheWorldDFA Website: http://digitalfinanceanalytics.com/blog/ Twitter: https://twitter.com/DFA_Analyst Firstly, thanks for watching I appreciate your support! Please like, share and subscribe for more crypto news! 🎓 Join Nugget’s Crypto Community: https://nuggetsnews.com.au/nuggets-crypto-community/ 🎧 Nugget's Crypto Podcast Spotify: https://spoti.fi/2tGTfIb iTunes: https://apple.co/2lAGHyt 👫👭👬Socials Facebook: http://fb.me/NuggetsNews Twitter: https://twitter.com/NuggetsNewsAU LinkedIn: https://www.linkedin.com/company/NuggetsNews Instagram: http://instagram.com/NuggetsNewsAU Reddit: https://steemit.com/@NuggetsNews 📬 Nugget’s Weekly E-News: http://bit.ly/2MugCwj 📲 Contact Us: http://bit.ly/2tHKKwN 🇦🇺 Own Cryptocurrency in your Self Managed Super Fund https://newbrightoncapital.com/nugget ("NUGGET" When completing the application) 🇦🇺Australian Tax: https://cryptotaxaus.com.au/ Mention: 'Nugget's News' for discount. 🏦 Need to purchase/sell large amounts of crypto? https://calebandbrown.com/ (Discount code: Nugget's News) 🎤 Hire me to Speak: https://www.linkedin.com/in/AlexSaundersAU/ 👕 Crypto Clothing: http://shrsl.com/nf7o 🔐 Secure your crypto Ledger: https://www.ledgerwallet.com/r/f536 Trezor: https://shop.trezor.io?a=esyfabvzr6zu Ecomi: https://securewallet.shop/products/secure-wallet (Discount Code: NUGGET) 🏦 Some of my favourite places to buy & trade coins: Coinspot: https://www.coinspot.com.au?affiliate=YNV53 Bitmex: https://www.bitmex.com/register/NFIXYP Coinbase: https://www.coinbase.com/join/54152b230bf6fa71dd000002 Binance: https://www.binance.com/?ref=10788816 KuCoin: https://www.kucoin.com/#/?r=188MQ Huobi: https://www.huobi.com.au/invite-success?invite_code=j4223 BiBox: https://www.bibox.com/signPage?id=11468551&lang=en EthFinex: https://www.ethfinex.com/?refcode=FJfGA79ciH The Chart Guys: 🎓 Crypto Trading Course: Discount code: Nugget10 https://www.chartguys.com/courses/crypto/?ref=5 🎓 Crypto Alerts System: Discount code: NUGGY10 https://crypto.chartguys.com?af=539351d975 Trader Cobb: Advanced Trading Courses: Discount code: TCNUGGET10 🎓https://www.tradercobb.com/cryptocurrency-education-courses/ Disclaimer: I AM NOT A LICENSED FINANCIAL ADVISOR. MY VIEWS ARE GENERAL IN NATURE AND SHOULD NOT BE TAKEN AS FINANCIAL ADVICE. ALWAYS DO YOUR OWN RESEARCH BEFORE INVESTING ANY MONEY.
Views: 33947 Nugget's News