good afternoon that was quite an introduction only part of it is true I
introduction only part of it is true I
introduction only part of it is true I don’t really get muddy on my farm but I
don’t really get muddy on my farm but I
don’t really get muddy on my farm but I just enjoy the tranquility and it’s
just enjoy the tranquility and it’s
just enjoy the tranquility and it’s given me a lot of time to think about
given me a lot of time to think about
given me a lot of time to think about this what I’m going to share with you
this what I’m going to share with you
this what I’m going to share with you completely different from what I used to
completely different from what I used to
completely different from what I used to do before what I’m going to be talking
do before what I’m going to be talking
do before what I’m going to be talking about is chasing infinity which is the
about is chasing infinity which is the
about is chasing infinity which is the growth story growth is the big word in
growth story growth is the big word in
growth story growth is the big word in our lives
our lives
our lives everything has to grow growth now phase
everything has to grow growth now phase
everything has to grow growth now phase one it all started in 1750 we got all
one it all started in 1750 we got all
one it all started in 1750 we got all these wonderful things cause they had
these wonderful things cause they had
these wonderful things cause they had travel telecom computers and all that
travel telecom computers and all that
travel telecom computers and all that for 200 years these good things happened
for 200 years these good things happened
for 200 years these good things happened so we thought the sky was the limit
so we thought the sky was the limit
so we thought the sky was the limit but suddenly post seven 1970 all the bad
but suddenly post seven 1970 all the bad
but suddenly post seven 1970 all the bad things started species extinction water
things started species extinction water
things started species extinction water crisis falling water tables forest gone
crisis falling water tables forest gone
crisis falling water tables forest gone etc which we call ecological collapse
etc which we call ecological collapse
etc which we call ecological collapse good things suddenly bad things and then
good things suddenly bad things and then
good things suddenly bad things and then just when we thought that was bad enough
just when we thought that was bad enough
just when we thought that was bad enough more bad things happen this time with
more bad things happen this time with
more bad things happen this time with your money volatile markets increasing
your money volatile markets increasing
your money volatile markets increasing prices debt crisis financial bubbles
prices debt crisis financial bubbles
prices debt crisis financial bubbles failing banks post-2000 so what is the
failing banks post-2000 so what is the
failing banks post-2000 so what is the connection between all these good things
connection between all these good things
connection between all these good things that we feel we ought to be working for
that we feel we ought to be working for
that we feel we ought to be working for and the Eco collapse which is life
and the Eco collapse which is life
and the Eco collapse which is life collapsing and economic collapse which
collapsing and economic collapse which
collapsing and economic collapse which is your money collapsing and I proposed
is your money collapsing and I proposed
is your money collapsing and I proposed to convince you that this is the cause
to convince you that this is the cause
to convince you that this is the cause of all three of these its we never see
of all three of these its we never see
of all three of these its we never see it that way but growth which is our
it that way but growth which is our
it that way but growth which is our religion it is the biggest global
religion it is the biggest global
religion it is the biggest global religion is growth
religion is growth
religion is growth it is beyond Christianity Islam Hinduism
it is beyond Christianity Islam Hinduism
it is beyond Christianity Islam Hinduism Judaism all of them combined it’s a
Judaism all of them combined it’s a
Judaism all of them combined it’s a faith that things should keep growing
faith that things should keep growing
faith that things should keep growing more I mean quantitative growth GDP
more I mean quantitative growth GDP
more I mean quantitative growth GDP growth I don’t mean qualitative growth
growth I don’t mean qualitative growth
growth I don’t mean qualitative growth this is the history of growth from 1750
this is the history of growth from 1750
this is the history of growth from 1750 it went crazy it was never like that ten
it went crazy it was never like that ten
it went crazy it was never like that ten thousand years back the world worked
thousand years back the world worked
thousand years back the world worked perfectly fine
perfectly fine
perfectly fine two questions this perpetual growth
two questions this perpetual growth
two questions this perpetual growth desirable most people say oh yeah of
desirable most people say oh yeah of
desirable most people say oh yeah of course we get jobs we get this we get
course we get jobs we get this we get
course we get jobs we get this we get that we get progress
that we get progress
that we get progress but is perpetual growth possible so I’m
but is perpetual growth possible so I’m
but is perpetual growth possible so I’m going to start with the second one
going to start with the second one
going to start with the second one because first of all let me show you
because first of all let me show you
because first of all let me show you whether it’s possible or not we have a
whether it’s possible or not we have a
whether it’s possible or not we have a mind mind comes up with the concept
mind mind comes up with the concept
mind mind comes up with the concept concept I write and read say lift up
concept I write and read say lift up
concept I write and read say lift up this glass is a concept but to lift it
this glass is a concept but to lift it
this glass is a concept but to lift it you need your body this I I didn’t use
you need your body this I I didn’t use
you need your body this I I didn’t use this intentionally but just happens to
this intentionally but just happens to
this intentionally but just happens to be there that is reality so the body can
be there that is reality so the body can
be there that is reality so the body can do it the glass is small enough you’ve
do it the glass is small enough you’ve
do it the glass is small enough you’ve managed to achieve the concept then the
managed to achieve the concept then the
managed to achieve the concept then the mind cells lift up something heavier
mind cells lift up something heavier
mind cells lift up something heavier because you’re into growth lift a chair
because you’re into growth lift a chair
because you’re into growth lift a chair the mind can do it again at the body can
the mind can do it again at the body can
the mind can do it again at the body can do it again
do it again
do it again by the way body is reality mind is
by the way body is reality mind is
by the way body is reality mind is concept so you can come up with any
concept so you can come up with any
concept so you can come up with any concept and you keep going through
concept and you keep going through
concept and you keep going through heavier and heavier things and finally
heavier and heavier things and finally
heavier and heavier things and finally your mind says lift this up if anybody
your mind says lift this up if anybody
your mind says lift this up if anybody can help me with that
can help me with that
can help me with that so obviously the body cannot do that
so obviously the body cannot do that
so obviously the body cannot do that minds have no limits bodies have limits
minds have no limits bodies have limits
minds have no limits bodies have limits this is like going back to kg but we
this is like going back to kg but we
this is like going back to kg but we need to go back to kg to question our
need to go back to kg to question our
need to go back to kg to question our fundamental belief in this religion
fundamental belief in this religion
fundamental belief in this religion called growth so what is the ultimate
called growth so what is the ultimate
called growth so what is the ultimate concept that we came up with within
concept that we came up with within
concept that we came up with within money money is a concept nobody eats
money money is a concept nobody eats
money money is a concept nobody eats money you buy things with money and that
money you buy things with money and that
money you buy things with money and that comes from the mind of the financial
comes from the mind of the financial
comes from the mind of the financial system the whole system collectively
system the whole system collectively
system the whole system collectively decides this is money and this is how it
decides this is money and this is how it
decides this is money and this is how it should be here and it should grow how do
should be here and it should grow how do
should be here and it should grow how do we define money we say first of all
we define money we say first of all
we define money we say first of all money is equal to value which is not
money is equal to value which is not
money is equal to value which is not true this is bread this is ten rupees
true this is bread this is ten rupees
true this is bread this is ten rupees you eat the bread you don’t need the ten
you eat the bread you don’t need the ten
you eat the bread you don’t need the ten rupees so money Maps value it’s not
rupees so money Maps value it’s not
rupees so money Maps value it’s not value but we’ve forgotten that so each
value but we’ve forgotten that so each
value but we’ve forgotten that so each time I draw a circle it’s a new concept
time I draw a circle it’s a new concept
time I draw a circle it’s a new concept okay so in the next one immediately was
okay so in the next one immediately was
okay so in the next one immediately was here this money should grow it should
here this money should grow it should
here this money should grow it should own interest you should invest it and
own interest you should invest it and
own interest you should invest it and the moment you add that concept of time
the moment you add that concept of time
the moment you add that concept of time value of money you have started this
value of money you have started this
value of money you have started this vector of linear growth of money seven
vector of linear growth of money seven
vector of linear growth of money seven percent seven percent seven percent but
percent seven percent seven percent but
percent seven percent seven percent but it’s so good that is a hey why not add
it’s so good that is a hey why not add
it’s so good that is a hey why not add another concept why not add the interest
another concept why not add the interest
another concept why not add the interest back and only interest on the interest
back and only interest on the interest
back and only interest on the interest Wow
Wow
Wow now your money is going like this
now your money is going like this
now your money is going like this fabulous just look at this doesn’t
fabulous just look at this doesn’t
fabulous just look at this doesn’t compare this store becomes
compare this store becomes
compare this store becomes actually it never even reaches the right
actually it never even reaches the right
actually it never even reaches the right side of the page it’s a mathematical
side of the page it’s a mathematical
side of the page it’s a mathematical impossibility but we believe in it and
impossibility but we believe in it and
impossibility but we believe in it and it’s so good that we say let this happen
it’s so good that we say let this happen
it’s so good that we say let this happen forever so this is when we say growth in
forever so this is when we say growth in
forever so this is when we say growth in all our discussions banks f DS finance
all our discussions banks f DS finance
all our discussions banks f DS finance minister he doesn’t mean growth
minister he doesn’t mean growth
minister he doesn’t mean growth he means perpetual exponential
he means perpetual exponential
he means perpetual exponential quantitative growth which is a very
quantitative growth which is a very
quantitative growth which is a very different monster this is the money
different monster this is the money
different monster this is the money onion
onion
onion it looks like an onion right just layers
it looks like an onion right just layers
it looks like an onion right just layers of concepts so we have decided that
of concepts so we have decided that
of concepts so we have decided that money should behave like this but this
money should behave like this but this
money should behave like this but this looks dangerous but why do we like it
looks dangerous but why do we like it
looks dangerous but why do we like it and that’s what we call economics 10
and that’s what we call economics 10
and that’s what we call economics 10 lakhs at 7% will double in 10 years in
lakhs at 7% will double in 10 years in
lakhs at 7% will double in 10 years in just 10 decades
just 10 decades
just 10 decades it’ll become 100 crores it looks like
it’ll become 100 crores it looks like
it’ll become 100 crores it looks like this fantastic no wonder we believe that
this fantastic no wonder we believe that
this fantastic no wonder we believe that it should happen but what nobody tells
it should happen but what nobody tells
it should happen but what nobody tells you is that so does the use of your
you is that so does the use of your
you is that so does the use of your resources you know the graph that nobody
resources you know the graph that nobody
resources you know the graph that nobody will show you this is money red energy
will show you this is money red energy
will show you this is money red energy you need energy in the same proportion
you need energy in the same proportion
you need energy in the same proportion it is not money that has made energy
it is not money that has made energy
it is not money that has made energy grow it is energy that has made money
grow it is energy that has made money
grow it is energy that has made money grow it is with energy that you make
grow it is with energy that you make
grow it is with energy that you make products services this thing that thing
products services this thing that thing
products services this thing that thing and that’s how your money has been
and that’s how your money has been
and that’s how your money has been growing and that started from 1750
growing and that started from 1750
growing and that started from 1750 because we discovered stored sunlight
because we discovered stored sunlight
because we discovered stored sunlight 500 million years of stored sunlight a
500 million years of stored sunlight a
500 million years of stored sunlight a savings account never to happen again an
savings account never to happen again an
savings account never to happen again an 1860 it was oil which was even more even
1860 it was oil which was even more even
1860 it was oil which was even more even more deadly
more deadly
more deadly but what oil can do coal cannot do and
but what oil can do coal cannot do and
but what oil can do coal cannot do and that’s what started this whole crazy
that’s what started this whole crazy
that’s what started this whole crazy curve so that’s the difference economics
curve so that’s the difference economics
curve so that’s the difference economics is a mind game you create a concept from
is a mind game you create a concept from
is a mind game you create a concept from your mind called money and you make the
your mind called money and you make the
your mind called money and you make the laws for it yourself and you expect that
laws for it yourself and you expect that
laws for it yourself and you expect that the body of the earth and reality should
the body of the earth and reality should
the body of the earth and reality should follow it simply because you’ve made
follow it simply because you’ve made
follow it simply because you’ve made those laws simply because you say money
those laws simply because you say money
those laws simply because you say money has time value it should honor interest
has time value it should honor interest
has time value it should honor interest you compound and this is called
you compound and this is called
you compound and this is called energetics this is a subject which I
energetics this is a subject which I
energetics this is a subject which I want to introduce in universities around
want to introduce in universities around
want to introduce in universities around the world everything follows energetics
the world everything follows energetics
the world everything follows energetics their body follows energetics clouds
their body follows energetics clouds
their body follows energetics clouds follow energetics reversal energetics
follow energetics reversal energetics
follow energetics reversal energetics forest follow energetics the law of
forest follow energetics the law of
forest follow energetics the law of energetics are defined by God the laws
energetics are defined by God the laws
energetics are defined by God the laws of economics are defined by man
of economics are defined by man
of economics are defined by man you can decide who’s gonna win what is
you can decide who’s gonna win what is
you can decide who’s gonna win what is energetics for a star the earth is
energetics for a star the earth is
energetics for a star the earth is finite you’re using the energy only from
finite you’re using the energy only from
finite you’re using the energy only from the earth anybody who believes that the
the earth anybody who believes that the
the earth anybody who believes that the Sun is diluted we are running it on
Sun is diluted we are running it on
Sun is diluted we are running it on fossil fuels which is 500 million years
fossil fuels which is 500 million years
fossil fuels which is 500 million years of sunlight and all resources this you
of sunlight and all resources this you
of sunlight and all resources this you won’t learn anywhere in any school but
won’t learn anywhere in any school but
won’t learn anywhere in any school but all resources follow a bell curve which
all resources follow a bell curve which
all resources follow a bell curve which means that it reaches the peak when half
means that it reaches the peak when half
means that it reaches the peak when half of it is finished and half the oil is
of it is finished and half the oil is
of it is finished and half the oil is finished in an oil well it starts
finished in an oil well it starts
finished in an oil well it starts slowing down when half the copper ore is
slowing down when half the copper ore is
slowing down when half the copper ore is finished in a copper mine the output
finished in a copper mine the output
finished in a copper mine the output goes down
goes down
goes down they don’t teach you anyway they imagine
they don’t teach you anyway they imagine
they don’t teach you anyway they imagine that you get it at whatever speed you
that you get it at whatever speed you
that you get it at whatever speed you want but that’s not true
want but that’s not true
want but that’s not true so the second half goes slower so you’re
so the second half goes slower so you’re
so the second half goes slower so you’re in trouble when you’ve reached the peak
in trouble when you’ve reached the peak
in trouble when you’ve reached the peak and this follows the laws of geology
and this follows the laws of geology
and this follows the laws of geology these are not man-made laws these are
these are not man-made laws these are
these are not man-made laws these are God made laws are you going to contest
God made laws are you going to contest
God made laws are you going to contest geology we think that we can with our
geology we think that we can with our
geology we think that we can with our creativity which is why we distorted on
creativity which is why we distorted on
creativity which is why we distorted on the disk concept called money so we have
the disk concept called money so we have
the disk concept called money so we have three phases from when the Industrial
three phases from when the Industrial
three phases from when the Industrial Age started for the first phase the
Age started for the first phase the
Age started for the first phase the earth gives you exponentially whether it
earth gives you exponentially whether it
earth gives you exponentially whether it be oil or copper or water or anything if
be oil or copper or water or anything if
be oil or copper or water or anything if you want more it gives you more so you
you want more it gives you more so you
you want more it gives you more so you could make your money grow in a real way
could make your money grow in a real way
could make your money grow in a real way from here to here you actually made more
from here to here you actually made more
from here to here you actually made more products you could actually make more
products you could actually make more
products you could actually make more cars trucks trains planes etc this is
cars trucks trains planes etc this is
cars trucks trains planes etc this is phase one paradise x but second phase it
phase one paradise x but second phase it
phase one paradise x but second phase it goes in a different direction so this
goes in a different direction so this
goes in a different direction so this part was fine but the second part and
part was fine but the second part and
part was fine but the second part and this we managed to do it with these four
this we managed to do it with these four
this we managed to do it with these four laws okay these are the four laws that
laws okay these are the four laws that
laws okay these are the four laws that allowed us to make money go there but
allowed us to make money go there but
allowed us to make money go there but we’ve got the energy in proportionately
we’ve got the energy in proportionately
we’ve got the energy in proportionately but well now the earth behaves like this
but well now the earth behaves like this
but well now the earth behaves like this and you’re saying no my money should go
and you’re saying no my money should go
and you’re saying no my money should go like this there’s a big gap which is a
like this there’s a big gap which is a
like this there’s a big gap which is a differential between the real products
differential between the real products
differential between the real products you’ve made and you’re imagining your
you’ve made and you’re imagining your
you’ve made and you’re imagining your money has grown here so what did we do
money has grown here so what did we do
money has grown here so what did we do we again relied on our mind we said
we again relied on our mind we said
we again relied on our mind we said let’s make one more concept
let’s make one more concept
let’s make one more concept so we added another concept to our money
so we added another concept to our money
so we added another concept to our money onion it’s called the stock market now
onion it’s called the stock market now
onion it’s called the stock market now stocks existed but stocks used to be
stocks existed but stocks used to be
stocks existed but stocks used to be privately held the moment you make a
privately held the moment you make a
privately held the moment you make a stock market yo-yo you started a casino
stock market yo-yo you started a casino
stock market yo-yo you started a casino which means you are betting on stocks if
which means you are betting on stocks if
which means you are betting on stocks if I take a glass of milk and pass it
I take a glass of milk and pass it
I take a glass of milk and pass it around 10 20 40 80 10000 but the glass
around 10 20 40 80 10000 but the glass
around 10 20 40 80 10000 but the glass still feeds one baby what have you
still feeds one baby what have you
still feeds one baby what have you increased nothing you have created a
increased nothing you have created a
increased nothing you have created a symbolic notional casino it’s a gambling
symbolic notional casino it’s a gambling
symbolic notional casino it’s a gambling den it is the it’s an institutionalized
den it is the it’s an institutionalized
den it is the it’s an institutionalized gambling den which we call Wall Street
gambling den which we call Wall Street
gambling den which we call Wall Street not all Street god knows what Street but
not all Street god knows what Street but
not all Street god knows what Street but this this is the way our mind works and
this this is the way our mind works and
this this is the way our mind works and we honestly start believing that this is
we honestly start believing that this is
we honestly start believing that this is true and this is actual reality but then
true and this is actual reality but then
true and this is actual reality but then again the curved vote needed to go up
again the curved vote needed to go up
again the curved vote needed to go up the differentially greased so they said
the differentially greased so they said
the differentially greased so they said ok let’s introduce fractional reserve
ok let’s introduce fractional reserve
ok let’s introduce fractional reserve banking because when you lend money you
banking because when you lend money you
banking because when you lend money you get interest when you lend more money
get interest when you lend more money
get interest when you lend more money you get more interest so the bank was
you get more interest so the bank was
you get more interest so the bank was allowed to lend more and more and more
allowed to lend more and more and more
allowed to lend more and more and more and more and more and hold less unless
and more and more and hold less unless
and more and more and hold less unless unless unless unless today’s banks don’t
unless unless unless today’s banks don’t
unless unless unless today’s banks don’t have the money that you think they have
have the money that you think they have
have the money that you think they have your money’s gone they were supposed to
your money’s gone they were supposed to
your money’s gone they were supposed to only lent 10% and hold 90 but when you
only lent 10% and hold 90 but when you
only lent 10% and hold 90 but when you follow this and you said this is our
follow this and you said this is our
follow this and you said this is our rule this is our religion this is the
rule this is our religion this is the
rule this is our religion this is the way we have to go then you have to learn
way we have to go then you have to learn
way we have to go then you have to learn more you have to bring in this concept
more you have to bring in this concept
more you have to bring in this concept but after some time you reach the
but after some time you reach the
but after some time you reach the ceiling so much gold so much money
ceiling so much gold so much money
ceiling so much gold so much money you’re supposed to put in money
you’re supposed to put in money
you’re supposed to put in money according to the amount of gold you have
according to the amount of gold you have
according to the amount of gold you have but now you need more money and you
but now you need more money and you
but now you need more money and you don’t have the gold so what do you do
don’t have the gold so what do you do
don’t have the gold so what do you do you add another concept no gold standard
you add another concept no gold standard
you add another concept no gold standard that means you can create as much money
that means you can create as much money
that means you can create as much money as you want your money is fiat it’s not
as you want your money is fiat it’s not
as you want your money is fiat it’s not backed by anything how wonderful the
backed by anything how wonderful the
backed by anything how wonderful the mind is people worship the mind when I
mind is people worship the mind when I
mind is people worship the mind when I question it look at it now can you see
question it look at it now can you see
question it look at it now can you see what is this side are getting growth
what is this side are getting growth
what is this side are getting growth this side you’re getting risk because
this side you’re getting risk because
this side you’re getting risk because it’s not real
it’s not real
it’s not real this is imaginary this is real and the
this is imaginary this is real and the
this is imaginary this is real and the differential is increasing exponentially
differential is increasing exponentially
differential is increasing exponentially then we said hey we need to borrow more
then we said hey we need to borrow more
then we said hey we need to borrow more money I only have 50 crores I need to
money I only have 50 crores I need to
money I only have 50 crores I need to borrow a thousand crores how about if I
borrow a thousand crores how about if I
borrow a thousand crores how about if I use this principle from physics that I
use this principle from physics that I
use this principle from physics that I can lift up 10 kgs by putting only 1 kg
can lift up 10 kgs by putting only 1 kg
can lift up 10 kgs by putting only 1 kg down it’s called leveraging if any of
down it’s called leveraging if any of
down it’s called leveraging if any of you guys are done physics
you guys are done physics
you guys are done physics so they applied that rule into finance
so they applied that rule into finance
so they applied that rule into finance and said let the guy put 50 down let him
and said let the guy put 50 down let him
and said let the guy put 50 down let him pick up a thousand crores Wow
he has only put a security of 50 and
he has only put a security of 50 and he’s picked up a thousand that’s called
he’s picked up a thousand that’s called
he’s picked up a thousand that’s called leveraging so we added another concept
leveraging so we added another concept
leveraging so we added another concept because you have to keep chasing and
because you have to keep chasing and
because you have to keep chasing and faster and faster curve but the risk is
faster and faster curve but the risk is
faster and faster curve but the risk is there what if he doesn’t pay it back so
there what if he doesn’t pay it back so
there what if he doesn’t pay it back so the bank said you know what we’ll let
the bank said you know what we’ll let
the bank said you know what we’ll let him take an option on it so option means
him take an option on it so option means
him take an option on it so option means that if he defaults he has to pay a
that if he defaults he has to pay a
that if he defaults he has to pay a premium can anybody guess what that
premium can anybody guess what that
premium can anybody guess what that premium is if he’s taken thousand and
premium is if he’s taken thousand and
premium is if he’s taken thousand and put only 50 down how much would he pay
put only 50 down how much would he pay
put only 50 down how much would he pay as a premium simple answer this it’s the
as a premium simple answer this it’s the
as a premium simple answer this it’s the only alphabet C St and D 1 s minus this
only alphabet C St and D 1 s minus this
only alphabet C St and D 1 s minus this thing the guys who came up with this got
thing the guys who came up with this got
thing the guys who came up with this got the Nobel Prize they well they should
the Nobel Prize they well they should
the Nobel Prize they well they should look how complicated it is but they used
look how complicated it is but they used
look how complicated it is but they used this formula in their own company called
this formula in their own company called
this formula in their own company called long-term capital management they made
long-term capital management they made
long-term capital management they made some money for some time and then they
some money for some time and then they
some money for some time and then they lost 4.6 billion dollars and the US
lost 4.6 billion dollars and the US
lost 4.6 billion dollars and the US government bailed them out because if
government bailed them out because if
government bailed them out because if they didn’t their whole economy would go
they didn’t their whole economy would go
they didn’t their whole economy would go down and they didn’t even take the Nobel
down and they didn’t even take the Nobel
down and they didn’t even take the Nobel Prize back so that is called the black
Prize back so that is called the black
Prize back so that is called the black and Scholes derivative which is extreme
and Scholes derivative which is extreme
and Scholes derivative which is extreme mathematics you’re not betting you are
mathematics you’re not betting you are
mathematics you’re not betting you are doing extreme mathematics to bet which
doing extreme mathematics to bet which
doing extreme mathematics to bet which means I am doing extreme mathematics to
means I am doing extreme mathematics to
means I am doing extreme mathematics to make sure that 10 lakh people lose is
make sure that 10 lakh people lose is
make sure that 10 lakh people lose is that economics is that a social science
that economics is that a social science
that economics is that a social science what is it it’s extreme casino behavior
what is it it’s extreme casino behavior
what is it it’s extreme casino behavior that’s all it is but we love it India
that’s all it is but we love it India
that’s all it is but we love it India has got now God knows how many thousand
has got now God knows how many thousand
has got now God knows how many thousand crores of derivatives we are welcoming
crores of derivatives we are welcoming
crores of derivatives we are welcoming them in then we repeal the
them in then we repeal the
them in then we repeal the glass-steagall Act this is a little
glass-steagall Act this is a little
glass-steagall Act this is a little complicated financial banks commercial
complicated financial banks commercial
complicated financial banks commercial banks commercial banks you put your
banks commercial banks you put your
banks commercial banks you put your money financial banks are supposed to do
money financial banks are supposed to do
money financial banks are supposed to do business in 29 1929 when the when the
business in 29 1929 when the when the
business in 29 1929 when the when the when the big crash happened in u.s. the
when the big crash happened in u.s. the
when the big crash happened in u.s. the government says we cannot have these
government says we cannot have these
government says we cannot have these together because the investment banks
together because the investment banks
together because the investment banks were taking your money and playing with
were taking your money and playing with
were taking your money and playing with it
it
it so they separated the two that was
so they separated the two that was
so they separated the two that was called the glass-steagall Act to protect
called the glass-steagall Act to protect
called the glass-steagall Act to protect your money for 50 years the bankers kept
your money for 50 years the bankers kept
your money for 50 years the bankers kept fighting with the government because
fighting with the government because
fighting with the government because they said we can’t do anything we don’t
they said we can’t do anything we don’t
they said we can’t do anything we don’t have any capital
have any capital
have any capital because now you have to go up higher and
because now you have to go up higher and
because now you have to go up higher and higher by the way this doesn’t stop here
higher by the way this doesn’t stop here
higher by the way this doesn’t stop here it goes way above this building so the
it goes way above this building so the
it goes way above this building so the government says okay guys you can use
government says okay guys you can use
government says okay guys you can use the depositors money and that’s when
the depositors money and that’s when
the depositors money and that’s when they repeal the glass-steagall Act and
they repeal the glass-steagall Act and
they repeal the glass-steagall Act and now they had a lot of capital to play
now they had a lot of capital to play
now they had a lot of capital to play with and they used these three concepts
with and they used these three concepts
with and they used these three concepts leveraging options and black and chose
leveraging options and black and chose
leveraging options and black and chose derivative to create something called
derivative to create something called
derivative to create something called complex financial instruments see
complex financial instruments see
complex financial instruments see whenever you say complex it has to be
whenever you say complex it has to be
whenever you say complex it has to be good when you say financial you trusted
good when you say financial you trusted
good when you say financial you trusted immediately instrument even better so
immediately instrument even better so
immediately instrument even better so what does it mean
what does it mean
what does it mean collectively debt obligation you’re
collectively debt obligation you’re
collectively debt obligation you’re dealing with debt as real things today
dealing with debt as real things today
dealing with debt as real things today debt is sold
debt is sold
debt is sold Wow if I owe people money I can actually
Wow if I owe people money I can actually
Wow if I owe people money I can actually make money on that how silly of stupid
make money on that how silly of stupid
make money on that how silly of stupid and you call it collateral debt
and you call it collateral debt
and you call it collateral debt obligation that is the growth trap which
obligation that is the growth trap which
obligation that is the growth trap which we have imposed on ourselves with our
we have imposed on ourselves with our
we have imposed on ourselves with our superior I am sorry to say I might
superior I am sorry to say I might
superior I am sorry to say I might disagree with many other speakers but we
disagree with many other speakers but we
disagree with many other speakers but we think that it’s all about concepts our
think that it’s all about concepts our
think that it’s all about concepts our mind our intelligence intelligence is
mind our intelligence intelligence is
mind our intelligence intelligence is the lowest form of interaction with our
the lowest form of interaction with our
the lowest form of interaction with our reality it is a very shallow form
reality it is a very shallow form
reality it is a very shallow form intelligence intuition instinct are much
intelligence intuition instinct are much
intelligence intuition instinct are much deeper emotion a much deeper this is the
deeper emotion a much deeper this is the
deeper emotion a much deeper this is the broad strata we created an idea that
broad strata we created an idea that
broad strata we created an idea that this is how money should go and we’ll do
this is how money should go and we’ll do
this is how money should go and we’ll do anything to fulfill it even if it’s not
anything to fulfill it even if it’s not
anything to fulfill it even if it’s not real and this is all your reality all
real and this is all your reality all
real and this is all your reality all resources follow this curve but this I
resources follow this curve but this I
resources follow this curve but this I mean god made some mistakes you know
mean god made some mistakes you know
mean god made some mistakes you know we’re going to correct it so look at the
we’re going to correct it so look at the
we’re going to correct it so look at the gap increasing and each time you come up
gap increasing and each time you come up
gap increasing and each time you come up to go from here to here you come up with
to go from here to here you come up with
to go from here to here you come up with a new concept to go from here to here
a new concept to go from here to here
a new concept to go from here to here you come up with a new concept to go
you come up with a new concept to go
you come up with a new concept to go from year to year which is now in
from year to year which is now in
from year to year which is now in hundreds of trillions of dollars of
hundreds of trillions of dollars of
hundreds of trillions of dollars of imaginary vapor symbolic money they’re
imaginary vapor symbolic money they’re
imaginary vapor symbolic money they’re unbelievable growth crazy risk the risk
unbelievable growth crazy risk the risk
unbelievable growth crazy risk the risk was building in the system we were
was building in the system we were
was building in the system we were waiting for it I don’t want to cricket
waiting for it I don’t want to cricket
waiting for it I don’t want to cricket but I was waiting to watch this happen
but I was waiting to watch this happen
but I was waiting to watch this happen there was an explosion that was the 2008
there was an explosion that was the 2008
there was an explosion that was the 2008 financial collapse which we were
financial collapse which we were
financial collapse which we were predicting why very simple you’re
predicting why very simple you’re
predicting why very simple you’re floating up there this is a false
floating up there this is a false
floating up there this is a false economy and when you reach the top which
economy and when you reach the top which
economy and when you reach the top which is what we reached the top of your
is what we reached the top of your
is what we reached the top of your resource which I
resource which I
resource which I she drives things which is called peak
she drives things which is called peak
she drives things which is called peak oil this term is going to come into your
oil this term is going to come into your
oil this term is going to come into your education and in your it’s not discussed
education and in your it’s not discussed
education and in your it’s not discussed anywhere in India at least fifty
anywhere in India at least fifty
anywhere in India at least fifty trillion dollars evaporated so those
trillion dollars evaporated so those
trillion dollars evaporated so those guys said well you know it’s I said them
guys said well you know it’s I said them
guys said well you know it’s I said them whenever their it was just creations of
whenever their it was just creations of
whenever their it was just creations of your mind that was the global so two
your mind that was the global so two
your mind that was the global so two questions again is perpetual growth
questions again is perpetual growth
questions again is perpetual growth possible yes if you wanted of the
possible yes if you wanted of the
possible yes if you wanted of the imaginary kind it is it is impossible
imaginary kind it is it is impossible
imaginary kind it is it is impossible now is it desirable this is Mother Earth
now is it desirable this is Mother Earth
now is it desirable this is Mother Earth I are not normally saying this is a
I are not normally saying this is a
I are not normally saying this is a friend of yours and these are his life
friend of yours and these are his life
friend of yours and these are his life signs you know your heartbeat your
signs you know your heartbeat your
signs you know your heartbeat your cholesterol level your body temperature
cholesterol level your body temperature
cholesterol level your body temperature many other things which are supposed to
many other things which are supposed to
many other things which are supposed to be flat just imagine that your body
be flat just imagine that your body
be flat just imagine that your body temperature is going crazy like this and
temperature is going crazy like this and
temperature is going crazy like this and your heartbeat is going crazy like this
your heartbeat is going crazy like this
your heartbeat is going crazy like this what is like this exponential but this
what is like this exponential but this
what is like this exponential but this is not a person this is our mother earth
is not a person this is our mother earth
is not a person this is our mother earth itself all the life signs of the earth
itself all the life signs of the earth
itself all the life signs of the earth species extinction is supposed to be you
species extinction is supposed to be you
species extinction is supposed to be you know intense in thousands of years it is
know intense in thousands of years it is
know intense in thousands of years it is going exponential loss of tropical
going exponential loss of tropical
going exponential loss of tropical rainforest so now I’ve come to the other
rainforest so now I’ve come to the other
rainforest so now I’ve come to the other side I already explained to you by the
side I already explained to you by the
side I already explained to you by the economics collapsed now I’m coming to
economics collapsed now I’m coming to
economics collapsed now I’m coming to explain to you why the ecology is
explain to you why the ecology is
explain to you why the ecology is collapsing loss of tropical rainforest
collapsing loss of tropical rainforest
collapsing loss of tropical rainforest this year well aware of which is why I
this year well aware of which is why I
this year well aware of which is why I speak about the other thing first
speak about the other thing first
speak about the other thing first because that not many people are aware
because that not many people are aware
because that not many people are aware of Fisheries exploited exponential I
of Fisheries exploited exponential I
of Fisheries exploited exponential I love this word exploited you know if you
love this word exploited you know if you
love this word exploited you know if you read any paper you say we must exploit
read any paper you say we must exploit
read any paper you say we must exploit these markets we must exploit those
these markets we must exploit those
these markets we must exploit those resources we must exploit the calm and
resources we must exploit the calm and
resources we must exploit the calm and China’s markets is it a good word
China’s markets is it a good word
China’s markets is it a good word exploit would you go home and say
exploit would you go home and say
exploit would you go home and say darling to your wife darling let’s
darling to your wife darling let’s
darling to your wife darling let’s exploit the kids tonight
exploit the kids tonight
exploit the kids tonight we haven’t exploited aunty Jessie for a
we haven’t exploited aunty Jessie for a
we haven’t exploited aunty Jessie for a while she will be feeling lonely exploit
while she will be feeling lonely exploit
while she will be feeling lonely exploit means rape rape means exploit so when
means rape rape means exploit so when
means rape rape means exploit so when you’re saying exploit in your business
you’re saying exploit in your business
you’re saying exploit in your business meetings in all your financial news you
meetings in all your financial news you
meetings in all your financial news you just replace it with the word rape let’s
just replace it with the word rape let’s
just replace it with the word rape let’s leave these resources
leave these resources
leave these resources let’s rape the middle class
let’s rape the middle class
let’s rape the middle class that is more accurate we have a
that is more accurate we have a
that is more accurate we have a wonderfully change that’s the beauty
wonderfully change that’s the beauty
wonderfully change that’s the beauty about the mind in the concepts that we
about the mind in the concepts that we
about the mind in the concepts that we can change anything water usage
can change anything water usage
can change anything water usage exponential co2 concentration exponent
exponential co2 concentration exponent
exponential co2 concentration exponent that twenty indicators which are life
that twenty indicators which are life
that twenty indicators which are life indicators ozone depletion number of
indicators ozone depletion number of
indicators ozone depletion number of cars paper consumption but there’s one
cars paper consumption but there’s one
cars paper consumption but there’s one more in here which is the trigger which
more in here which is the trigger which
more in here which is the trigger which is the cause a big thick red line there
is the cause a big thick red line there
is the cause a big thick red line there can anyone guess what that is kind of in
can anyone guess what that is kind of in
can anyone guess what that is kind of in a way it is the GDP of the world GDP is
a way it is the GDP of the world GDP is
a way it is the GDP of the world GDP is your sacred talisman its GDP going down
your sacred talisman its GDP going down
your sacred talisman its GDP going down my god do something yeah
my god do something yeah
my god do something yeah GDP going up everybody’s happy and
GDP going up everybody’s happy and
GDP going up everybody’s happy and clapping you know you have those two
clapping you know you have those two
clapping you know you have those two photographs in the papers economically
photographs in the papers economically
photographs in the papers economically markets are down those guys are looking
markets are down those guys are looking
markets are down those guys are looking side markets are up there they’re
side markets are up there they’re
side markets are up there they’re cheering they know that’s it
cheering they know that’s it
cheering they know that’s it GDP of the world when you change the GDP
GDP of the world when you change the GDP
GDP of the world when you change the GDP of the world like this you are going to
of the world like this you are going to
of the world like this you are going to get this how on earth will you change
get this how on earth will you change
get this how on earth will you change the GDP of the world without taking more
the GDP of the world without taking more
the GDP of the world without taking more resources without taking more energy
resources without taking more energy
resources without taking more energy without taking more water without taking
without taking more water without taking
without taking more water without taking more soil without displacing more people
more soil without displacing more people
more soil without displacing more people without acidifying more oceans without
without acidifying more oceans without
without acidifying more oceans without drying more rivers not a single rally
drying more rivers not a single rally
drying more rivers not a single rally for rivers why should i rally for rivers
for rivers why should i rally for rivers
for rivers why should i rally for rivers you dried it up in the first place you
you dried it up in the first place you
you dried it up in the first place you told me it’s all needed for growth you
told me it’s all needed for growth you
told me it’s all needed for growth you told me that this is needed for growth
told me that this is needed for growth
told me that this is needed for growth that is needed for growth the our
that is needed for growth the our
that is needed for growth the our diversity should move out for growth we
diversity should move out for growth we
diversity should move out for growth we need to change our policies for growth
need to change our policies for growth
need to change our policies for growth well that is growth but then don’t be
well that is growth but then don’t be
well that is growth but then don’t be surprised that you get all these things
surprised that you get all these things
surprised that you get all these things because growth is the disease growth for
because growth is the disease growth for
because growth is the disease growth for the sake of growth is the ideology of a
the sake of growth is the ideology of a
the sake of growth is the ideology of a cancer cell think about it just for
cancer cell think about it just for
cancer cell think about it just for three minutes when it happens in your
three minutes when it happens in your
three minutes when it happens in your body one liver cell becomes 2 4 8 16 32
body one liver cell becomes 2 4 8 16 32
body one liver cell becomes 2 4 8 16 32 64 what is that called exponential
64 what is that called exponential
64 what is that called exponential growth do you love it no you run 2 in
growth do you love it no you run 2 in
growth do you love it no you run 2 in new jeho spittle but when it happens
new jeho spittle but when it happens
new jeho spittle but when it happens outside and we do it we call it progress
outside and we do it we call it progress
outside and we do it we call it progress it’s funny but it’s really true mr.
it’s funny but it’s really true mr.
it’s funny but it’s really true mr. edward paul abbey and this you will not
edward paul abbey and this you will not
edward paul abbey and this you will not hear in any school or university
hear in any school or university
hear in any school or university is equal to MC squared I care two hoots
is equal to MC squared I care two hoots
is equal to MC squared I care two hoots about he is equal to MC squared it
about he is equal to MC squared it
about he is equal to MC squared it really doesn’t matter as a biological
really doesn’t matter as a biological
really doesn’t matter as a biological creature you will hear all about marks
creature you will hear all about marks
creature you will hear all about marks and this and that
and this and that
and this and that I love Gandhi but I’m saying if you can
I love Gandhi but I’m saying if you can
I love Gandhi but I’m saying if you can tell about Gandhi surely you can say
tell about Gandhi surely you can say
tell about Gandhi surely you can say this which is exactly what he meant in a
this which is exactly what he meant in a
this which is exactly what he meant in a different context this is the thing what
different context this is the thing what
different context this is the thing what is the connection between the good
is the connection between the good
is the connection between the good things which we think are good now we
things which we think are good now we
things which we think are good now we are wondering pollution noise this thing
are wondering pollution noise this thing
are wondering pollution noise this thing murders rapes depletion are these really
murders rapes depletion are these really
murders rapes depletion are these really good things or have you just decided
good things or have you just decided
good things or have you just decided there are good things and who are they
there are good things and who are they
there are good things and who are they good for this special section of human
good for this special section of human
good for this special section of human beings called civilization not even all
beings called civilization not even all
beings called civilization not even all human beings so whether this is good
human beings so whether this is good
human beings so whether this is good itself is questionable but when you do
itself is questionable but when you do
itself is questionable but when you do this you are going to get this you are
this you are going to get this you are
this you are going to get this you are going to get this and the real cause for
going to get this and the real cause for
going to get this and the real cause for it is your very religion called growth
it is your very religion called growth
it is your very religion called growth no wonder the cancer cell ends up eating
no wonder the cancer cell ends up eating
no wonder the cancer cell ends up eating the whole organ then moves to the next
the whole organ then moves to the next
the whole organ then moves to the next organ and calls it an emerging market it
organ and calls it an emerging market it
organ and calls it an emerging market it moves from the liver to the heart what
moves from the liver to the heart what
moves from the liver to the heart what do you think they’ve come to India for
do you think they’ve come to India for
do you think they’ve come to India for this is the emerging markets is the last
this is the emerging markets is the last
this is the emerging markets is the last organ to be eaten this is the only place
organ to be eaten this is the only place
organ to be eaten this is the only place where there’s clean water cheap land
where there’s clean water cheap land
where there’s clean water cheap land pliable politicians etc etc growth is a
pliable politicians etc etc growth is a
pliable politicians etc etc growth is a disease and growth perpetual growth is
disease and growth perpetual growth is
disease and growth perpetual growth is impossible so you are chasing the
impossible so you are chasing the
impossible so you are chasing the impossible and perpetuating the disease
impossible and perpetuating the disease
impossible and perpetuating the disease madness the truth is fortunately we’ve
madness the truth is fortunately we’ve
madness the truth is fortunately we’ve reached the end of growth what you’re
reached the end of growth what you’re
reached the end of growth what you’re seeing around your eight lakh crores
seeing around your eight lakh crores
seeing around your eight lakh crores worth of NPA’s non-performing assets
worth of NPA’s non-performing assets
worth of NPA’s non-performing assets Japan and negative interest rates
Japan and negative interest rates
Japan and negative interest rates America 19 trillion dollars in debt
America 19 trillion dollars in debt
America 19 trillion dollars in debt China’s growth rate falling India’s
China’s growth rate falling India’s
China’s growth rate falling India’s growth rate falling it’s not because of
growth rate falling it’s not because of
growth rate falling it’s not because of bad administration it’s not because of
bad administration it’s not because of
bad administration it’s not because of mr. Jaitley it’s not because of mr.
mr. Jaitley it’s not because of mr.
mr. Jaitley it’s not because of mr. Modi’s he tried his best they tried
Modi’s he tried his best they tried
Modi’s he tried his best they tried their best they opened up all the
their best they opened up all the
their best they opened up all the possibilities for growth to happen
[Music]
[Music] more prudish creativity I hate this word
more prudish creativity I hate this word
more prudish creativity I hate this word sorry because that was created all those
sorry because that was created all those
sorry because that was created all those songs are so hugely creative and we give
songs are so hugely creative and we give
songs are so hugely creative and we give them Nobel Prize what do you mean by
them Nobel Prize what do you mean by
them Nobel Prize what do you mean by create what is the egg of jerk
create what is the egg of jerk
create what is the egg of jerk creativity has become such a bath it’s
creativity has become such a bath it’s
creativity has become such a bath it’s such a word that you know when you say
such a word that you know when you say
such a word that you know when you say everybody starts bowing in front of it
everybody starts bowing in front of it
everybody starts bowing in front of it what does creativity mean for who at
what does creativity mean for who at
what does creativity mean for who at what cost does it work is it holistic
what cost does it work is it holistic
what cost does it work is it holistic creativity though it’s a narrow thing
creativity though it’s a narrow thing
creativity though it’s a narrow thing GDP went up creativity end of growth is
GDP went up creativity end of growth is
GDP went up creativity end of growth is our new reality thank you for letting me
our new reality thank you for letting me
our new reality thank you for letting me go all my time I think I have end of
go all my time I think I have end of
go all my time I think I have end of growth is our new reality it is a
growth is our new reality it is a
growth is our new reality it is a reality it’s emerging bearing what is
reality it’s emerging bearing what is
reality it’s emerging bearing what is called energy descent that is why all
called energy descent that is why all
called energy descent that is why all the things that you’re seeing happening
the things that you’re seeing happening
the things that you’re seeing happening read the newspaper again through this
read the newspaper again through this
read the newspaper again through this lens and you suddenly see oh my god now
lens and you suddenly see oh my god now
lens and you suddenly see oh my god now I understand why this is happening and
I understand why this is happening and
I understand why this is happening and the final truth is that either we deal
the final truth is that either we deal
the final truth is that either we deal with this reality or reality will deal
with this reality or reality will deal
with this reality or reality will deal with us thank you
with us thank you
with us thank you [Applause]
”
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