John Law and the Mississippi Bubble
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- čas přidán 14. 10. 2010
- It was one of the most sensational get-rich-quick schemes heard of in a long time, but it eventually burst over the head of its originator, John Law. This "rags to riches to rags" story, in which the plan was to open a bank and exchange banknotes (paper!) for gold at wildly inflated share prices, ends when John Law, having been cleaned out as a result of a rush to cash in the notes, is left broke and broken-hearted.
Directed by Richard Condie - 1979 | 9 min
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Printing money and using it to buy back stocks to raise value? Sounds familiar.
Mujtahid Haque Are you referring to war bounds?
@@tanimation7289 I'd bet he's referring to the cares act where corporations were allowed to loot and leverage the 500billion in the language of the bill and then they used it to buy back stocks and raise value artificially.
That's definitely not what's going on right now! 😄
John Law was the original Keynesian.
@@tanimation7289 no he’s talking about the federal reserve
this should be shown in every history class..great video!
"We take it from the people and give it back to them again"
Isn't that just plain taxes?
Yes. Basically it is a lesson to us all that taxes will go up soon.
cartoons: the best way to learn. seriously, i still remember the Preamble to the Constitution from Schoolhouse rock from 6 years ago. and i didn’t understand the “paper money problem” until after this video.
I"m an amendment to be, yes I'm amendment to be, and I'm hopin' that they'll ratify me. There's a lot of flag burners who have got too much freedom. I wanna make it legal for policeman, to beat them, because there's limits to our liberty. At least I hope and pray that there are, because those liberal freaks go too far.
"Why don't they just pass a ban on flag burning?"
Because that law would be unconstitutional. But if WE CHANGE the constitution, then we can write all sorts of crazy laws! Now you're catchin' on!
What if they don't pass you?
THen I'll crush all opposition to me, and I'll make Ted Kennedy pay, if he fights back? I'll say that he's gayyyyy
Lesson learned. I will not invest in the Mars Colony Company.
👏👏👏
at the beginning then get out
Honestly wouldn't be surprised if this happened 🤣
What an important cartoon to watch in an age of myriad crypto currency schemes and this nee NFT (bubble) phenomena.
and the history repeats itself . . .
Oh that’s nothing, you should look at Extra History when they cover the South Sea Bubble. They are still paying that off to this day.
Embarrassed to say the cartoons made it more enjoyable and easy to watch haha!! Thanks for the upload friend!!
wrg, no embarasx for such or anyx
AND, in 2022, THE BUBBLE CONTINUES TO GET BIGGER!
?
It's important to remember, when you are in a fiat only system and we are. It's hard to measure the system within a system. Under a gold standard it was easy to see bubbles, because the cost to mine more gold and convert fiat to gold made it obvious. It's not like that today. Not saying what we are seeing now won't end, but to be careful in assuming it will overnight.
A great way to learn history! Kudos!
Love the arrows pointing the directions lol. On the one pole, Road to Italy, New Orleans, Winnipeg and an arrow pointing to the ground En Bas meaning Down Under hahaha.
This is so well done!
Nice cartoon ,perfect explanation..the best way to learn history !
Excellent! Very well done.
We are living in 2020 Mississippi bubble now.
In witch way?
@@tanimation7289 interest rates through roof poverty awaits
@@ciararespect4296 I was thinking more like digital currencies (like crypto and NFTs) is a bubble about to burst.
What a wonderful and informative animation
Very cute animation!!!🙂❤👍
more relevant than ever during these times.
Yes it is..
Great cartoon! Excellent information!
i learned that paper money is valueless and people everyday are convinced it is worth something. an idea i had for a while...
Paper money and other forms of currency was invented to help with trade in are economics.
wasn't the first rags to riches to rags story the tulip bubble in the Netherlands?
Financial disasters are beyond tough to understand to those of us without the financial mind. This is perfect!
Don't worry, I'm sure printing money to inflate stocks will work out ok this time!
Brought to you with paper money from Canada.
excelente video
Looks to me like the wealthy prince got the best deal... He got the bailout
he got out first; those are the people that do the best
Can you upload Why Me,Get A Job, Getting Started, Oh Sure, To Be and so on?
Superb!
6:57 typical scream
6:29 is that monakuma?
Bravo !!!
I just don't get it, what did the mississippi company actually do?
Basically they planed to colonize North America but that fell threw and they ended up selling it to the president of the US later on.
This is like a proto Internet Historian video.
To commemorate such man like John Law, someone did coins where he appears making money with his a$s.
4:50 nobility in shape of that French symbol
2:54 is a scarily accurate representation of the current Canadian government
What government doesn't do this?
@@tanimation7289 Any fiscally responsible one.
@@Oilerator_ Like?
Quisiera ver en español
3:07 what is John law doing?
Великолепная графика, художник молодец. 👍
When the IMF goes in twitter to tell people not to withdraw their cash from banks...
1:59
Switzerland
2:00 nope
So entertaining so educational so stressful 🥵
Brilliant! I am glad that I have a computer screen that says that I have lots of bitcoin wealth. Somewhere
Justin Trudeau is John Law.
Bingo
Gamestop is just one company, it's the monetary system as a whole that's in a bubble and like all bubbles....they eventually find a pin.
If it wasn’t for the greedy king the system could have worked. Why can’t good things be controlled so it’s rise is constant and stable. Instead we must hype things up so much that it has no choice but to crash down
Sounds like Bitcoin
Who is here in 2022 watching it all collapse?
But who says that gold is "real value"?
Speed Drawing
i like that
Im john law!
Plus ca change, plus c'est la meme chose.
causabon99
Bonjour à toi camarade français
Never fall for financial scams, and stick to your financial plans what happened back in France in the 17th century is a warning
2021 : Bitcoin bubble
The Printing of US$ to buy up Government T Bills is fundamentally different from John Law’s scheme of printing money to buy up shares . Buying or redeeming debt with printed money is theft of value in the currency at the expense of savers and to the benefit of tax payers who would otherwise have to pay through higher taxes to redeem debt. It is the holders of the remaining T Bills and US dollar holders who bear this cost , mostly Japanese and Chinese savers not Americans . Taken to its extreme the US Federal Reserve could ‘ redeem ‘ with printed money all US Government T Bills to the point where the Fed’s balance sheet equaled the T Bill issuance . Although legally in private hands the Fed is an agency of the US Government which could abolish the Fed by statute and merge the two balance sheets .
S T O N K S
Bitcoin .
Did y’all kno John law was a black men
Hyperinflation hhhh
0:57 did he say, "to build his magnificent phallus" lmao I know it's palace, but it sounds like phallus
PONZI = selling dreams
GameStop in a nutshell
All of the Richard Condie animations are masterpieces imho, but yes, events with GameStop Jan. 2021 brought me back to enjoy this classic. Daughter asks Dad, "What is money?" "Money is crazy sweetheart. You know The Cat Came Back, and, The Big Snit cartoon? The same artist and, his sister made a cartoon about money"
GameStop being shorted over 100 percent was a whole new level, buckle up. Cheers from Nova Scotia!
In the long run, they decided to replace kings with nations so that there would be no one to demand the money back. The public would always be in debt to itself. Evil af!
They should show this film to the Canadian Prime Minister!
donald trump will renege on america's debt...
The Jews want your gold, don’t give it to em’
Never gamble on Bitcoin.