It is sometimes easier to learn about finance and the financial crisis through watching documentaries and movies than through books about this subject.
So, I would strongly support :
– Inside Job, a movie from Charles Ferguson (very nice movie with a lot of interviews and material for further studies – I strongly advise you to read the book too (available through amazon).
– Noire Finance, a documentary in two parts from Arte
– L’argent dette 1 et l’argent dette 2 de Paul Grignon (documentaire un peu simplificateurs et orientés mais très pédagogiques présentant notamment en termes clairs le phénomène de création monétaire scripturale). On peut leur reprocher de ne pas parler assez de la destruction monétaire.
– Margin Call (Film assez basique, américain présentant peu d’intérêt si ce n’est qu’il est bien joué et présente bien le travail quotidien des traders ainsi que du senior et middle management d’un banque d’affaire).
My goal today is to discuss an interesting question raised by an economist and not very often discussed. We often say or hear that from 2008 to 2010, the financial market speculated against our currency, the euro, in view of its possible collapse. In fact, we often hear people say that the financial markets bet a lot on the collapse of the euro. I don’t know a lot about rules governing financial speculation but I know for sure, or I would know, that the currency is determined by supply and demand on currencies market throughout the world. And the euro remained very strong and overevaluated during this period. So the big question is : why the hell do we have a strong euro just in the setting of the weakest european economy and bad economic situation in Ireland, Spain, Italy, Cyprus ? Let’s just remember that the euro reached almost parity with the livre sterling in the aftermath of the lehman brothers collapse. I would reasonably think that a strong currency is awarded by a level of demand more important than supply on currency markets and when demand is more important than supply that’s mainly because investors all over the world trust a currency especially when in the setting of the worst financial crisis since 1929. I will may be learn soon than you can bet against a currency by making its price to increase a lot. This is not logical for me, but I am positive financial markets are not everytime logical or can act against commonsense to gain money (like products created by Mr Tourre).
This is a possibility, there is another one. The EU and the eurozone is the safest in the world and furthermore the euro is safer than the USD. So, its price just reflects trust of markets.
What’s your opinion ?
I am back again to share something.
The first it the big one. A free academy, totally free, is online with very interesting courses :
The Khan Academy !
I found out about the Khan Academy because of an interview of its creator, Salman Khan, on the TV channel Bloomberg.
As I am deeply interested by the financial crisis that emerged in the US because of the mortgage industry and predatory lending and contaminated every country in the world, I started to watch videos about finance.
What I want to stress is that this website is very nice. Teaching by short videos is quite intelligent et effective. Effective because everytime I watch a video, I remember a lot of things so the way the khan academy is teaching is a good and effective way.
For finance and capital markets courses, please click here.