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These are the user uploaded subtitles that are being translated: 1 00:02:02,500 --> 00:02:04,331 Anyone else? 2 00:02:34,701 --> 00:02:37,101 Double 6, double 5... 3 00:02:38,734 --> 00:02:40,395 Are you asleep? 4 00:03:02,902 --> 00:03:04,699 Double 1 with 5... 5 00:03:45,803 --> 00:03:47,930 3 million dollars done... 6 00:03:54,170 --> 00:03:55,660 ...90.75... 7 00:03:57,970 --> 00:04:00,268 ABN Amsterdam - 35 and out. 8 00:04:01,370 --> 00:04:02,837 Find a new one. 9 00:04:07,137 --> 00:04:10,300 Do you have 70 dollars Paris? 10 00:04:12,037 --> 00:04:13,766 90 round... 11 00:04:30,538 --> 00:04:32,369 Round is out. 12 00:04:37,972 --> 00:04:40,133 70 dollars-marks. 13 00:05:00,505 --> 00:05:03,167 Find dollars-guilders. - ABN Copenhagen. 14 00:05:06,005 --> 00:05:07,700 3.59.95 15 00:05:09,339 --> 00:05:10,931 I don't know yet. 16 00:05:15,405 --> 00:05:17,066 ...95.10... 17 00:05:19,605 --> 00:05:21,095 ...work it out! 18 00:05:24,505 --> 00:05:26,166 Dollars finished. 19 00:05:26,806 --> 00:05:29,366 These 2 million are Hamburg, aren't they? 20 00:05:29,906 --> 00:05:31,339 ...95.10... 21 00:05:40,506 --> 00:05:41,939 Offer closed! 22 00:07:17,609 --> 00:07:19,474 Scanners. 23 00:07:20,576 --> 00:07:26,537 This is Burleson, developing the industrial applications. 24 00:07:26,710 --> 00:07:29,110 There is medicine. 25 00:07:29,242 --> 00:07:31,870 Healthcare, Laser for Medicine. - That's important? 26 00:07:32,010 --> 00:07:34,205 Healthcare is very important. 27 00:07:39,509 --> 00:07:42,945 Laser for Medicine which makes use of lasers. 28 00:07:43,110 --> 00:07:46,944 It was taken on the Space Shuttle. They did tests. 29 00:07:48,910 --> 00:07:50,104 Then there's General Electric... 30 00:07:50,243 --> 00:07:53,872 ...which produces scanners, defence materials... 31 00:07:54,010 --> 00:07:57,309 ...fighter engines. They're very good shares. 32 00:08:00,677 --> 00:08:04,078 Exxon has received 214.7 million dollars... 33 00:08:04,210 --> 00:08:06,144 ...from the Ministry of Defence. 34 00:08:06,310 --> 00:08:10,076 Then we have Pratt and Whitney... 35 00:08:10,210 --> 00:08:12,906 ...that's General Electric again. 36 00:08:13,044 --> 00:08:15,979 They're all defence contracts. 37 00:08:21,444 --> 00:08:23,105 Le Clerq speaking. 38 00:08:24,311 --> 00:08:26,370 Good afternoon. 39 00:08:38,378 --> 00:08:41,677 I'll explain the principles to you... 40 00:08:41,812 --> 00:08:45,077 ...so that you know what you're getting involved in. 41 00:08:45,211 --> 00:08:48,112 As you know, the futures market is different... 42 00:08:48,244 --> 00:08:53,682 ...from the spot market, because the risks are greater. 43 00:08:53,812 --> 00:08:57,339 I'd appreciate being allowed to explain... 44 00:08:57,511 --> 00:09:01,743 ...to avoid misunderstandings later on. 45 00:09:01,912 --> 00:09:05,109 With gold you have two possibilities. 46 00:09:09,713 --> 00:09:12,079 Gold is fascinating, isn't it? 47 00:09:12,212 --> 00:09:17,775 It has been, for as long as people have been on earth. 48 00:09:19,046 --> 00:09:24,780 Gold is something people resort to... 49 00:09:24,946 --> 00:09:27,574 ...in times of anxiety and tension... 50 00:09:27,746 --> 00:09:32,979 ...under threat of war, as we've seen recently in the Middle East. 51 00:09:33,146 --> 00:09:36,673 If there's any tension, gold rockets. 52 00:09:37,580 --> 00:09:42,517 Could you say that people trading gold are speculating on that tension? 53 00:09:43,347 --> 00:09:47,841 Certainly. Trade reacts to these tensions. 54 00:09:49,547 --> 00:09:53,381 I think that money, capital, gold... 55 00:09:55,747 --> 00:09:58,910 - it's a question of greed, undoubtedly - 56 00:09:59,047 --> 00:10:03,950 ...are the only things for which you can wake people in the middle of the night. 57 00:10:04,114 --> 00:10:05,741 If you say: I have news for you... 58 00:10:05,914 --> 00:10:12,080 ...about money or gold, they're wide awake, ears pricked up. 59 00:10:12,214 --> 00:10:16,082 If I ring late about anything else, I'll be in trouble. 60 00:10:16,214 --> 00:10:19,206 That reflects the sentiments... 61 00:10:19,381 --> 00:10:22,111 ...that keep people's minds occupied all the time. 62 00:10:22,614 --> 00:10:25,344 I had the feeling that gold... 63 00:10:25,481 --> 00:10:31,579 ...was somehow involved with death. People get killed for gold. 64 00:10:31,715 --> 00:10:34,149 One moment, we're busy. 65 00:10:34,281 --> 00:10:37,307 Yes, people kill for gold. 66 00:10:37,448 --> 00:10:43,182 I think more people have been killed for gold, and of course passion... 67 00:10:43,349 --> 00:10:47,649 ...in any case, things to do with sex. 68 00:10:47,815 --> 00:10:54,015 But I do think that lots of people have been killed for gold or money. 69 00:10:54,815 --> 00:10:58,808 These universal sentiments about gold come about... 70 00:10:58,982 --> 00:11:04,386 ...because the market is so fast. That's the whole gamble. 71 00:11:04,549 --> 00:11:07,575 We're in a "short" period at present. 72 00:11:07,716 --> 00:11:12,176 The gold price had dropped from around 800 dollars... 73 00:11:12,349 --> 00:11:21,519 ...to 430 to 435 dollars an ounce in April 1983. 74 00:11:21,649 --> 00:11:26,518 We were on our way down to 410, 405... 75 00:11:26,650 --> 00:11:31,019 ...when the problems with South American countries started. 76 00:11:31,183 --> 00:11:36,382 They couldn't even pay the interest on their debts. 77 00:11:36,550 --> 00:11:39,747 Brazil threatened a moratorium. 78 00:11:39,883 --> 00:11:46,049 That meant it would unilaterally stop repayments. 79 00:11:46,217 --> 00:11:50,244 At that time there was a threat of a currency crisis. 80 00:11:50,416 --> 00:11:57,322 So the gold price rocketed. In 20 minutes, it shot up 27 dollars. 81 00:11:57,451 --> 00:12:00,511 A large number of small investors world-wide... 82 00:12:00,651 --> 00:12:04,018 ...were swept out of the market with huge losses. 83 00:12:05,284 --> 00:12:10,745 You like talking about money, don't you? You sound enthusiastic. 84 00:12:10,884 --> 00:12:16,254 Yes, it's like crossword fanatics... 85 00:12:16,417 --> 00:12:21,320 ...who will do anything to get all the squares filled in. 86 00:12:21,451 --> 00:12:23,817 We try the same, but we can't... 87 00:12:23,985 --> 00:12:28,251 ...because in spite of all the science it's still largely guesswork. 88 00:12:28,418 --> 00:12:31,683 There are so many external factors over which you have no control. 89 00:12:31,851 --> 00:12:35,514 They can ruin your whole strategy. 90 00:12:35,652 --> 00:12:39,748 And then you have to re-think your whole approach. 91 00:12:39,884 --> 00:12:41,511 But you like the tension. 92 00:12:41,652 --> 00:12:45,383 Yes. The sport is to adapt as quickly as possible... 93 00:12:45,552 --> 00:12:48,544 ...and to reach your investors... 94 00:12:48,685 --> 00:12:54,089 ...to explain the new approach to them and get them to use it. 95 00:12:55,052 --> 00:12:58,783 You compared it to a crossword puzzle. 96 00:12:58,919 --> 00:13:02,355 But reality is in the background. 97 00:13:02,485 --> 00:13:07,149 Harsh reality. - Which changes things. 98 00:13:08,019 --> 00:13:10,351 Can you see the link? 99 00:13:10,486 --> 00:13:14,252 I try and adopt politics... 100 00:13:14,419 --> 00:13:18,150 ...in my financial-economic approach. 101 00:13:18,286 --> 00:13:20,083 In what respect? 102 00:13:21,353 --> 00:13:29,385 Directly. At the moment there are arms talks going on in Geneva. 103 00:13:29,553 --> 00:13:36,322 Many economic factors are directly dependent on them. 104 00:13:38,553 --> 00:13:44,981 In the worst case: assume the talks break down and there's no agreement. 105 00:13:45,120 --> 00:13:49,420 Then there will be a "bearish" response... 106 00:13:49,587 --> 00:13:51,248 ...world-wide, in industry too. 107 00:13:51,420 --> 00:13:56,756 That leads to further tension, increased defence spending... 108 00:13:56,887 --> 00:13:59,321 ...and increased pressure on the dollar market. 109 00:13:59,454 --> 00:14:05,825 Enormous forces want Star Wars. That's also money. 110 00:14:05,988 --> 00:14:12,393 I think that it's a development that will continue. 111 00:14:12,821 --> 00:14:17,053 It's an expression of power. - The power of money. 112 00:14:17,221 --> 00:14:23,751 Of course. It's related to spheres of influence, free enterprise... 113 00:14:23,887 --> 00:14:27,846 ...a policy much of the world doesn't have. 114 00:14:28,021 --> 00:14:31,149 It's a question of markets. 115 00:14:31,288 --> 00:14:35,884 Take China's overtures to the West. 116 00:14:36,055 --> 00:14:39,547 It's a huge market, hence money, and power. 117 00:14:39,688 --> 00:14:43,180 If that were to lead to Star Wars... 118 00:14:43,355 --> 00:14:45,846 ...would you have sleepless nights? 119 00:14:46,022 --> 00:14:50,425 I don't really think it will lead to wars. 120 00:14:51,456 --> 00:14:55,552 If people know that the threat is there... 121 00:14:55,688 --> 00:14:58,248 ...they will make sure it doesn't happen. 122 00:14:58,422 --> 00:15:01,949 What is your conclusion? 123 00:15:02,089 --> 00:15:04,319 The only conclusion I draw... 124 00:15:04,456 --> 00:15:07,857 ...is to try and develop an investment philosophy. 125 00:15:08,023 --> 00:15:10,355 One which is advantageous. 126 00:15:10,489 --> 00:15:13,822 The whole world takes part, not just the multi-nationals. 127 00:15:13,990 --> 00:15:18,552 Everyone is trying to scramble up the tower of power. 128 00:15:18,689 --> 00:15:23,149 That means acquiring capital. It's as simple as that. 129 00:15:23,290 --> 00:15:26,191 Money is power. It means you can buy things. 130 00:15:26,357 --> 00:15:30,794 You can direct people positively and negatively. 131 00:15:30,923 --> 00:15:33,619 But you can only direct people poorer than you. 132 00:15:33,789 --> 00:15:37,225 Richer people have already made it. 133 00:15:37,390 --> 00:15:41,622 That's why everyone tries to come out on top. 134 00:15:41,790 --> 00:15:44,623 But the road to the top keeps getting narrower. 135 00:15:44,790 --> 00:15:47,350 There are victims at every level. 136 00:15:47,490 --> 00:15:52,189 You get satisfaction, but you see the results. 137 00:15:52,357 --> 00:15:56,088 People at the core will be the victims. 138 00:15:56,257 --> 00:15:59,590 I don't feel so involved with the facts. 139 00:15:59,724 --> 00:16:05,685 You feel involved when you see the pictures in the news... 140 00:16:05,857 --> 00:16:09,418 ...but the film pictures are still abstract. 141 00:16:09,591 --> 00:16:12,253 It isn't like being on the spot. 142 00:20:53,866 --> 00:20:59,634 Madam, did you have to fight hard for this restaurant? 143 00:21:00,399 --> 00:21:03,232 You want to know if I had to fight? 144 00:21:05,966 --> 00:21:11,666 Well, it's mainly the cooking. I cook to survive... 145 00:21:11,833 --> 00:21:16,702 ...to feed my children and to pay off my debts. 146 00:21:18,933 --> 00:21:21,834 When did you start? 147 00:21:21,966 --> 00:21:27,336 In 1970, 1971. Yes, '71. 148 00:21:28,767 --> 00:21:32,362 Was it difficult? 149 00:21:32,533 --> 00:21:37,470 No, because I can cook well. 150 00:21:38,200 --> 00:21:42,159 In Puerto Rico I made snacks to sell in the street, with my mother. 151 00:21:42,333 --> 00:21:45,791 When I came here I started to work in a factory. 152 00:21:45,934 --> 00:21:50,462 But I had pains all over. 153 00:21:50,600 --> 00:21:54,161 A friend arranged for me to work in a restaurant. 154 00:21:54,334 --> 00:21:59,738 The place was owned by a man who was in prison. 155 00:21:59,900 --> 00:22:04,530 He had rented it to a friend of mine who asked me to cook for him. 156 00:22:05,468 --> 00:22:10,997 When the man was released, my friend had to give the restaurant back. 157 00:22:13,701 --> 00:22:16,727 I was in terrible trouble... 158 00:22:16,901 --> 00:22:21,133 ...because I had to get money to buy this restaurant. 159 00:22:22,068 --> 00:22:24,935 I borrowed money from my brother... 160 00:22:25,968 --> 00:22:30,735 ...and here I am. The restaurant is mine. 161 00:22:45,302 --> 00:22:47,236 Hello Mum, how are you? 162 00:22:48,469 --> 00:22:51,802 Fine, a bit tired. 163 00:22:51,936 --> 00:22:55,872 We won't work next Saturday. 164 00:22:56,869 --> 00:22:59,667 All the better. A day off. 165 00:22:59,836 --> 00:23:01,827 What's on the menu today? 166 00:23:01,969 --> 00:23:04,096 Well, white rice... 167 00:23:04,269 --> 00:23:10,868 ...rice with beans, fried cutlets, French fries... 168 00:23:11,003 --> 00:23:14,336 ...fried chicken, fricassee... 169 00:23:14,503 --> 00:23:16,664 ...fried meat... 170 00:23:18,103 --> 00:23:21,869 Everything to order. Whatever they want. 171 00:23:22,004 --> 00:23:24,370 We should sell a lot of that. 172 00:35:27,090 --> 00:35:34,622 Ladies and gentlemen, we're near 4th Street, by Adela's Restaurant. 173 00:35:34,758 --> 00:35:39,024 She always contributed to our collections... 174 00:35:39,190 --> 00:35:41,249 ...for the paralysed children of Puerto Rico. 175 00:35:41,424 --> 00:35:47,522 Tomorrow we are going to take the money... 176 00:35:47,691 --> 00:35:53,459 ...to the TV charity show for Puerto Rican paralysed children. 177 00:35:53,624 --> 00:35:58,391 I ask you for a peso, a dollar... 178 00:35:58,525 --> 00:36:02,484 ...for Puerto Rican children. They need it. 179 00:59:16,532 --> 00:59:18,693 Because China changed its economic system... 180 00:59:18,831 --> 00:59:22,130 ...exporters now work without government control. 181 00:59:22,265 --> 00:59:25,291 They compete with each other by cutting prices. 182 00:59:25,432 --> 00:59:28,094 Chinese state firms in Hong Kong suffer as a result. 183 00:59:28,231 --> 00:59:30,722 Our correspondent reports. 184 00:59:31,398 --> 00:59:37,098 Every day, 6,000 pigs are exported to Hong Kong. 185 01:00:25,766 --> 01:00:27,734 250 dollars! 186 01:00:31,000 --> 01:00:35,164 The other one costs 130. Shall I wrap this up for you? 187 01:00:36,567 --> 01:00:38,330 130 dollars. 188 01:00:43,967 --> 01:00:46,663 130 dollars? 189 01:00:46,801 --> 01:00:48,598 Take your pick. 190 01:00:48,767 --> 01:00:50,735 Do you want this one? - Of course. 191 01:03:11,471 --> 01:03:13,871 Call a doctor, at once! 192 01:03:24,405 --> 01:03:27,841 Your honour, have mercy on her. She's all alone. 193 01:03:28,805 --> 01:03:35,005 Whatever happens to her later, give her guidance. 194 01:03:36,505 --> 01:03:38,564 Don't worry. 195 01:03:41,472 --> 01:03:43,872 You are certain to die... 196 01:03:46,605 --> 01:03:51,406 ...but I shall take your daughter as my godchild. 197 01:04:06,440 --> 01:04:08,670 GOD OF THE EARTH 198 01:04:14,273 --> 01:04:18,437 BLESSINGS FROM THE HEAVENLY LORD 199 01:05:15,375 --> 01:05:17,240 33! Not 35! 200 01:05:18,075 --> 01:05:19,599 Special offer. 201 01:05:22,308 --> 01:05:24,538 Fillet it. 202 01:05:25,241 --> 01:05:27,641 Kill it. 203 01:05:29,608 --> 01:05:32,168 No don't. It isn't as nice steamed. 204 01:05:39,809 --> 01:05:41,606 Buy this. 205 01:05:42,642 --> 01:05:44,542 No, it's so poor. 206 01:05:44,675 --> 01:05:46,700 I wish you wealth... 207 01:05:49,276 --> 01:05:52,245 ...happiness and fortune. 208 01:06:02,443 --> 01:06:05,003 What does this cost? 209 01:06:08,676 --> 01:06:10,041 One dollar. 210 01:06:37,610 --> 01:06:39,578 3.50 dollars. 211 01:06:45,811 --> 01:06:49,474 No, 13.50 dollars. 212 01:06:49,644 --> 01:06:52,875 I thought it was cheap. 213 01:06:58,278 --> 01:07:00,803 I thought 3.50. 214 01:07:02,011 --> 01:07:04,172 And a shallot, too. 215 01:07:05,378 --> 01:07:07,903 3.50 for the lettuce. 216 01:07:17,112 --> 01:07:21,412 Your low prices were enough to make me happy. 217 01:07:25,711 --> 01:07:27,406 Oh, the shallots. 218 01:08:01,413 --> 01:08:05,577 WE WISH YOU A WEALTHY NEW YEAR 219 01:08:46,014 --> 01:08:50,576 Harry, 2000 for Melchers. - Got it. 220 01:08:51,815 --> 01:08:55,774 Hans, stable 6.20. - OK. 221 01:08:58,514 --> 01:09:01,483 We'll buy at 80. Kees, your rate? 222 01:09:01,648 --> 01:09:04,708 80.6 negotiable! 223 01:09:05,714 --> 01:09:08,683 Oil is 80.6 negotiable. 224 01:09:09,115 --> 01:09:14,280 The price is up a bit. I have oil at 90... 70! 225 01:09:22,715 --> 01:09:25,275 1,000 for you at 70! 226 01:09:26,015 --> 01:09:27,880 The dollar please... 6.5. 227 01:09:30,016 --> 01:09:31,881 Buying 1,000 oil at 6... 228 01:09:34,849 --> 01:09:36,612 1,000 for me at 6. 229 01:10:02,716 --> 01:10:05,150 And 2,500 for Melchers. 230 01:10:08,249 --> 01:10:10,774 And ehm... How is that? 231 01:10:11,850 --> 01:10:14,580 2, 2, 3... 232 01:10:15,550 --> 01:10:17,142 Plus eight. 233 01:10:26,883 --> 01:10:29,852 Opening is 6.80. 234 01:10:37,517 --> 01:10:39,815 Here's Amsterdam's opening. 235 01:10:40,250 --> 01:10:45,483 Royal Dutch Shell: 46 7/8... 236 01:10:45,984 --> 01:10:50,182 Unilever 93 3/4, Philips... 237 01:11:00,051 --> 01:11:02,611 You think this is a great profession? 238 01:11:02,751 --> 01:11:07,654 Fantastic. I compare it to someone who ended up in a circus by chance... 239 01:11:07,819 --> 01:11:12,984 ...and who has become so addicted that he can't do without. 240 01:11:13,118 --> 01:11:16,144 It's so stimulating, and every day is so different. 241 01:11:16,285 --> 01:11:23,418 It's so varied... I couldn't imagine having to live without it. 242 01:11:26,552 --> 01:11:28,486 Good God, answer the phone. 243 01:11:28,652 --> 01:11:33,715 Hello Jacques. 2 at 80. Round. 244 01:11:33,885 --> 01:11:39,619 Are you interested? It's up to you. OK, bye then. He's out. 245 01:11:39,752 --> 01:11:42,243 1,000 round for me. 1,000 at .20 for you. 246 01:11:44,419 --> 01:11:47,445 1,000 round for me. - 1,000 at .10 for you. 247 01:11:50,086 --> 01:11:53,055 1,000 round for me. - 1,000 at .10 for you. 248 01:11:54,120 --> 01:11:59,023 A client once told me to buy without restrictions. 249 01:11:59,187 --> 01:12:01,519 I'll never do that again because at that moment... 250 01:12:01,686 --> 01:12:05,486 ...I was the only one buying Shell at the Amsterdam Exchange. 251 01:12:05,653 --> 01:12:08,486 All the others were against me. 252 01:12:08,653 --> 01:12:13,784 I was overloaded and a few minutes later I heard... 253 01:12:13,920 --> 01:12:16,718 ...that war had broken out in the Middle East. 254 01:12:16,886 --> 01:12:19,821 I was scared to death. 255 01:13:55,656 --> 01:13:57,954 That's five exactly. 256 01:15:42,493 --> 01:15:45,792 The staff of King Do pharmaceuticals... 257 01:15:45,926 --> 01:15:51,592 ...wishes you a wealthy New Year. We wish you riches. 258 01:15:52,359 --> 01:15:57,160 The sports desk wishes you a wealthy New Year. 259 01:16:10,693 --> 01:16:12,593 What are you doing? 260 01:16:13,494 --> 01:16:15,189 It hurts. 261 01:16:34,694 --> 01:16:36,389 Come and sit down. 262 01:16:41,727 --> 01:16:43,786 First the soup. 263 01:16:47,295 --> 01:16:48,489 Big boy! 264 01:16:48,661 --> 01:16:51,289 Eat slowly. It's New Year! 265 01:16:51,462 --> 01:16:53,225 Come and sit here. 266 01:16:57,562 --> 01:17:00,030 Hand me the red chair. 267 01:17:13,862 --> 01:17:16,695 Mummy will feed you. 268 01:17:25,529 --> 01:17:27,326 Delicious. 269 01:17:33,862 --> 01:17:36,296 The chicken is very tender. 270 01:18:02,830 --> 01:18:06,493 I want a mushroom. 271 01:18:07,797 --> 01:18:09,264 One mushroom for you. 272 01:19:48,699 --> 01:19:54,001 I told you to keep away from the window. What happens if you fall? 273 01:20:21,000 --> 01:20:22,968 Pull out the table. 274 01:20:29,701 --> 01:20:32,795 The children need a bath. 275 01:21:19,702 --> 01:21:25,663 70,000 people from Hong Kong... 276 01:21:25,836 --> 01:21:27,997 ...went to China for New Year. 277 01:28:23,914 --> 01:28:25,381 330. 278 01:28:29,315 --> 01:28:31,078 22 to 10. 279 01:28:32,081 --> 01:28:34,447 2, 3, 6 and 10. 280 01:29:08,015 --> 01:29:09,676 That's all? 281 01:29:10,849 --> 01:29:12,214 50. 282 01:29:13,716 --> 01:29:15,013 10. 283 01:31:21,886 --> 01:31:23,353 80, 90. 284 01:31:23,487 --> 01:31:25,250 700 dollars. 285 01:31:43,920 --> 01:31:46,252 You can place your bets now. 286 01:31:49,753 --> 01:31:52,381 Are you betting on two horses? 287 01:32:13,855 --> 01:32:16,847 Horses numbers 5, 5 and 7. 288 01:32:19,521 --> 01:32:22,183 The computer is overloaded. Please wait. 289 01:32:22,554 --> 01:32:25,387 1, 2, 6 and 10. Every bet is ten dollars. 290 01:35:00,426 --> 01:35:02,485 How are you, Mother? This is Mei Lan. 291 01:35:02,659 --> 01:35:04,490 Oh, Mei Lan, how are you? 292 01:35:04,659 --> 01:35:07,321 Mother, I would like to see you. 293 01:35:07,493 --> 01:35:09,757 I'm about to go out. 294 01:35:09,926 --> 01:35:15,125 Come to 227 Andy Road after ten. 295 01:35:15,860 --> 01:35:18,454 Andy Road? - Do you know the way? 296 01:35:18,593 --> 01:35:21,892 Yes, I know. It's agreed. 297 01:42:44,072 --> 01:42:48,702 I read somewhere that one person costs 408,000 DM. 298 01:42:48,873 --> 01:42:51,341 But that's a few years ago now. 299 01:43:36,341 --> 01:43:38,571 700 more at 80! 300 01:43:38,740 --> 01:43:40,367 Sold! 301 01:44:31,742 --> 01:44:33,937 80. 302 01:44:37,042 --> 01:44:41,206 He wants 26 and we offer 25.80, so... 303 01:44:41,375 --> 01:44:43,536 Those 20 cents, that's the sport. 304 01:45:08,843 --> 01:45:14,145 I must make it up to you. I want to ask you to dinner. 305 01:45:14,276 --> 01:45:15,766 That isn't necessary. 306 01:45:15,943 --> 01:45:17,240 Why not? 307 01:45:24,177 --> 01:45:26,771 We call it 'going short'. 308 01:45:28,676 --> 01:45:32,544 We can sell something we haven't got. 309 01:45:32,677 --> 01:45:36,943 We sell what we haven't got, then buy it back later for less. 310 01:45:56,811 --> 01:46:00,713 From the annual report of the Hong Kong and Shanghai Banking Corporation: 311 01:46:00,844 --> 01:46:03,108 Chile. Four offices. 312 01:46:03,245 --> 01:46:06,510 Our Santiago office continued to do well... 313 01:46:06,645 --> 01:46:09,876 ...despite the poor economic circumstances. 314 01:46:30,212 --> 01:46:33,010 Let there be silence for a boy. 315 01:46:33,179 --> 01:46:36,239 Here he is in Mr Koekendorp's class... 316 01:46:36,412 --> 01:46:39,438 ...in a T-shirt... (sign of the new era)... 317 01:46:39,613 --> 01:46:42,776 ...which he wrested from his mother. 318 01:46:43,379 --> 01:46:46,314 My mother wanted me to wear a collar and tie. 319 01:46:46,979 --> 01:46:49,743 I was fascinated by the girl next to me. 320 01:46:49,912 --> 01:46:54,315 I wanted to be engulfed by her and live with her forever. 321 01:46:55,046 --> 01:46:59,574 Only years later could I express such desires. 322 01:46:59,746 --> 01:47:02,806 Together with other boys I threw her to the ground... 323 01:47:02,980 --> 01:47:06,814 ...and saw her undies and her smooth legs. 324 01:47:12,247 --> 01:47:15,614 We used to play by the monument to General van Heutsz... 325 01:47:15,779 --> 01:47:18,714 ...an old colonial butcher. 326 01:47:18,846 --> 01:47:21,576 We, too, had to become men one day. 327 01:47:23,946 --> 01:47:27,939 There were fountains put up where a child could drink. 328 01:47:28,113 --> 01:47:32,982 Between then and now, half the world's forests have been cut down. 329 01:47:33,147 --> 01:47:37,015 A price that had to be paid for economic growth. 330 01:47:37,181 --> 01:47:39,911 But the fountains are still there. 331 01:48:49,250 --> 01:48:50,808 What happened this week? 332 01:48:50,983 --> 01:48:54,612 Some central banks have been selling dollars... 333 01:48:54,782 --> 01:48:59,082 ...at the right time. So the dollars dropped sharply. 334 01:48:59,250 --> 01:49:02,413 Without us. Without major trading. 335 01:49:02,583 --> 01:49:07,850 The risks of holding dollars were too great. 336 01:49:08,016 --> 01:49:11,349 Is it the greatest drop since World War II? 337 01:49:11,483 --> 01:49:16,614 It's the biggest drop since nobody knows when. 338 01:49:16,783 --> 01:49:19,251 What did it feel like for you? 339 01:49:19,416 --> 01:49:24,410 Well, we're just spectators. We can't do anything about it. 340 01:49:24,583 --> 01:49:29,452 It may be sensational but it's not pleasant, really. 341 01:49:29,617 --> 01:49:37,422 Why unpleasant? - Panic trading never works out. 342 01:49:37,884 --> 01:49:40,944 It costs lots of people money. That's not nice. 343 01:49:41,117 --> 01:49:44,575 People lose money? - Yes, I'm afraid they do. 344 01:50:30,352 --> 01:50:33,617 CALVIN'S CHAIR 1535 345 01:50:47,153 --> 01:50:49,815 Is this where it happened? 346 01:50:49,952 --> 01:50:53,513 Yes, this house was built in the 18th century... 347 01:50:53,653 --> 01:50:59,216 ...on the site of the old monastery that stood next to the cathedral... 348 01:50:59,353 --> 01:51:04,017 ...where the people of Geneva congregated. 349 01:51:04,154 --> 01:51:08,523 In this monastery, on May 21st, 1536... 350 01:51:08,653 --> 01:51:12,145 ...the Reformation was adopted. 351 01:51:13,187 --> 01:51:18,420 There is a well-know theory that says that capitalism... 352 01:51:18,554 --> 01:51:21,421 ...also has its origin in the Reformation. 353 01:51:21,554 --> 01:51:23,317 What do you think of that? 354 01:51:23,454 --> 01:51:28,255 There is certainly a relationship... 355 01:51:28,387 --> 01:51:35,156 ...between some aspects emphasised by Calvin's Reformation: 356 01:51:35,287 --> 01:51:38,552 Such as each person's responsibility... 357 01:51:38,854 --> 01:51:43,257 ..and his work and his place in life as the vocation of man. 358 01:51:43,387 --> 01:51:46,083 And the fact that... 359 01:51:47,921 --> 01:51:51,448 ...Protestants acquired riches... 360 01:51:51,587 --> 01:51:56,991 ...and thereby contributed to the rise of capitalism. 361 01:51:57,121 --> 01:52:00,818 But I don't think you can argue... 362 01:52:00,954 --> 01:52:05,323 ...that capitalism was a result of the Reformation. 363 01:52:05,455 --> 01:52:10,119 People have sought links: the individual, for instance... 364 01:52:10,255 --> 01:52:16,125 Yes, the fact that everyone must answer to God. 365 01:52:16,989 --> 01:52:21,892 If I consider that my work is my vocation... 366 01:52:22,022 --> 01:52:25,924 ...and if I do that well, I get richer... 367 01:52:26,055 --> 01:52:31,049 ...does God reward me more the richer I am? 368 01:52:31,189 --> 01:52:34,852 That argument can be queried. 369 01:52:34,989 --> 01:52:41,019 So we have different interpretations of the same text, the same idea. 370 01:52:41,156 --> 01:52:47,152 Yes, for instance, the Old Testament could argue... 371 01:52:47,289 --> 01:52:51,419 ...that riches are seen as God's blessing. 372 01:52:52,422 --> 01:52:53,946 What do you think of that? 373 01:52:54,090 --> 01:52:57,287 I think that in the New Testament... 374 01:52:57,422 --> 01:53:03,156 ...you could say that poverty is a sign of God's blessing. 375 01:53:03,290 --> 01:53:07,226 But that's easily said if you are not poor. 376 01:53:07,357 --> 01:53:09,222 That's true. 377 01:53:11,357 --> 01:53:17,296 I believe that now people are more and more aware... 378 01:53:17,423 --> 01:53:25,421 ...that social justice is an expression of love. 379 01:53:25,557 --> 01:53:28,822 Or you could say there is no true love... 380 01:53:28,957 --> 01:53:31,949 ...if there is no justice between people. 381 01:53:32,091 --> 01:53:36,357 But that argument has political consequences. 382 01:53:36,491 --> 01:53:41,861 Yes. Because I believe that in the Gospel... 383 01:53:41,991 --> 01:53:44,983 ...nothing is more political than love. 384 01:55:50,327 --> 01:55:55,094 Madam's role is very important in the process. 385 01:55:55,228 --> 01:56:01,565 She checks every print after soldering. 386 01:56:01,694 --> 01:56:05,960 Her role is important because she uses only her eyes. 387 01:56:06,095 --> 01:56:07,562 It's a visual check... 388 01:56:07,695 --> 01:56:13,361 ...comparing the print with a pattern in front of her. 389 01:56:13,662 --> 01:56:16,324 She has a great reputation, hasn't she? 390 01:56:16,629 --> 01:56:19,359 Her role is very important... 391 01:56:19,662 --> 01:56:23,098 ...and I am always amazed at her dexterity. 392 01:56:23,229 --> 01:56:27,791 She is better at it than a machine would be. 393 01:57:57,265 --> 01:58:01,964 Immigrant, immigrant, immigrant... 394 01:58:05,965 --> 01:58:12,632 My father came here to find work. 395 01:58:14,732 --> 01:58:22,138 My brothers and I were sent here to school... 396 01:58:23,332 --> 01:58:25,857 ...to learn French. 397 01:58:29,065 --> 01:58:34,697 My father and my mother are at work... 398 01:58:37,033 --> 01:58:40,161 ...and I'm at school here. 399 01:58:44,167 --> 01:58:47,295 Do you like it here? - Yes. 400 01:58:47,599 --> 01:58:52,696 It's nice to be here and to learn French. 401 01:58:53,066 --> 01:58:55,762 I live alone with my father. 402 01:58:55,900 --> 01:59:00,860 My brother and sister are at school in Yugoslavia. 403 01:59:01,000 --> 01:59:07,701 In the month of June, my mother is going to bring them here. 404 01:59:07,834 --> 01:59:11,964 I think that I can go to a regular school in September. 405 01:59:12,100 --> 01:59:14,568 When we came here my father said: 406 01:59:14,700 --> 01:59:17,726 Watch out for the police. Watch out for them. 407 01:59:17,867 --> 01:59:21,735 So we were always afraid of the police. 408 01:59:21,867 --> 01:59:24,131 Your fathers all have Permits A. 409 01:59:24,268 --> 01:59:29,228 Under Swiss law you then have no right to be here. 410 01:59:29,368 --> 01:59:31,029 No legal right. 411 01:59:31,168 --> 01:59:33,602 What is a Permit B? 412 01:59:33,734 --> 01:59:37,898 It allows you to go to school and to work. 413 01:59:43,635 --> 01:59:50,234 Permit B allows you to work here and to live in peace... 414 01:59:50,368 --> 01:59:53,064 ...and to go to a normal school. 415 01:59:54,002 --> 01:59:56,300 Is it different from Portugal? 416 01:59:56,601 --> 01:59:58,626 I prefer Switzerland to Portugal. 417 01:59:58,768 --> 02:00:04,229 Why? - Why? Because it's more beautiful. 418 02:00:04,369 --> 02:00:08,567 Cleaner? - More beautiful. 419 02:00:08,768 --> 02:00:14,673 Do you want to stay here? - Anywhere but Portugal. 420 02:00:14,802 --> 02:00:19,899 I would rather go to America. To New York. 421 02:00:52,837 --> 02:00:58,867 We've been living here for two years. We sleep here. 422 02:00:59,004 --> 02:01:01,905 Joao and Victor sleep over there. 423 02:01:02,037 --> 02:01:06,997 And the eldest on a mattress in the kitchen. 424 02:01:08,070 --> 02:01:14,031 To rent a flat you have to pay a huge deposit. 425 02:01:14,337 --> 02:01:17,363 Your employer must be guarantor. 426 02:01:17,504 --> 02:01:19,802 A Permit A holder needs his employer's guarantee. 427 02:01:19,937 --> 02:01:25,705 If he agrees, we get a flat. If he doesn't, we don't. 428 02:01:27,371 --> 02:01:31,432 Can you stay here next year? - I don't know. 429 02:01:31,571 --> 02:01:35,598 My boss hasn't renewed my contract. It was a nine-months contract. 430 02:01:35,738 --> 02:01:40,038 If he doesn't will you have to leave the flat? 431 02:01:40,337 --> 02:01:44,774 We can't even come to Switzerland without a contract. 432 02:01:48,538 --> 02:01:50,335 We can't do anything about it. 433 02:01:50,472 --> 02:01:53,464 The bosses decide and the government. 434 02:01:55,105 --> 02:01:57,039 We are powerless. 435 02:02:01,772 --> 02:02:03,501 That's how it is. 436 02:02:05,005 --> 02:02:08,497 If we can't live in Portugal... 437 02:02:08,639 --> 02:02:13,702 ...we must look elsewhere in the world. 438 02:02:14,106 --> 02:02:18,873 If you have a Permit B your wife can join you. 439 02:02:19,639 --> 02:02:25,509 Without one, the children can't go to school. 440 02:02:25,939 --> 02:02:29,898 They need a Permit B to go to school. 441 02:02:30,706 --> 02:02:36,667 What's it like being here illegally, with your children? 442 02:02:36,806 --> 02:02:39,934 We feel like thieves or murderers... 443 02:02:40,072 --> 02:02:46,978 ...because we've got to stay in hiding... 444 02:02:47,107 --> 02:02:53,012 ...like criminals. We were more free in Portugal. Here, we must hide. 445 02:02:53,973 --> 02:02:55,770 It's difficult. 446 02:02:55,907 --> 02:02:58,933 Some men keep cool in those first nine months. 447 02:02:59,073 --> 02:03:03,567 Others lose control and move in with a woman. 448 02:03:03,706 --> 02:03:10,339 They leave their wives and children in Portugal... 449 02:03:11,073 --> 02:03:13,541 ...and get divorced on the spot. 450 02:03:13,674 --> 02:03:17,940 As I said: They get into trouble and they are weak. 451 02:03:18,074 --> 02:03:21,566 Many marriages are wrecked that way. 452 02:03:21,707 --> 02:03:23,004 All over the world. 453 02:03:23,141 --> 02:03:27,874 Those are the conditions for immigrant workers. 454 02:03:28,741 --> 02:03:30,504 We are... 455 02:03:30,874 --> 02:03:33,399 I don't know how to say it. 456 02:03:33,541 --> 02:03:36,704 We are nobody and nothing here. 457 02:04:53,943 --> 02:04:56,969 Economic power has been displaced twice. 458 02:04:59,343 --> 02:05:02,835 First from the southern world to Northern Europe. 459 02:05:04,911 --> 02:05:07,846 That was when Calvin and his followers... 460 02:05:07,977 --> 02:05:11,378 ...made Geneva into one giant monastery. 461 02:05:11,510 --> 02:05:13,774 But without the sharing of possessions. 462 02:05:19,077 --> 02:05:22,342 Later on, power moved away from Europe... 463 02:05:22,478 --> 02:05:24,708 ...to the West and the East. 464 02:05:27,711 --> 02:05:30,703 But the threads of the old web are still taut... 465 02:05:30,845 --> 02:05:34,110 ...with Geneva, like a spider, in the middle. 466 02:05:42,778 --> 02:05:44,837 Lots of money arrives in Geneva... 467 02:05:44,978 --> 02:05:47,970 ...earnt in miserable circumstances. 468 02:05:49,444 --> 02:05:52,641 One may live among the elite of a poor country... 469 02:05:52,778 --> 02:05:58,774 ...and siphon off 1 or 2 millions of the 100 million the country borrowed. 470 02:05:59,845 --> 02:06:04,646 Or one is paid from abroad for importing certain weapons. 471 02:06:05,846 --> 02:06:10,806 Or one charges tax on every glass of water drunk. 472 02:06:11,612 --> 02:06:13,375 It's hot there. 473 02:06:18,846 --> 02:06:21,815 That kind of money often arrives in Geneva... 474 02:06:22,445 --> 02:06:24,413 ...and Geneva passes it on... 475 02:06:24,546 --> 02:06:29,449 ...to the East and the West where it rapidly multiplies. 476 02:06:29,579 --> 02:06:33,413 For instance, in factories with fewer and fewer workers. 477 02:06:42,180 --> 02:06:45,240 These things are said but no one knows. 478 02:06:46,113 --> 02:06:48,980 It's as if one lived 100 years ago... 479 02:06:49,113 --> 02:06:52,048 ...while being frantically busy with the present. 480 02:06:53,413 --> 02:06:57,281 The population is not allowed to look behind the facades... 481 02:06:57,413 --> 02:06:59,313 ...but helps to keep them clean. 482 02:07:26,548 --> 02:07:30,143 Geneva has always been a crossroads. 483 02:07:30,281 --> 02:07:33,478 And now all the banks are located here. 484 02:07:33,614 --> 02:07:36,412 Something intrigues me: 485 02:07:36,548 --> 02:07:41,451 The Third World has gigantic debts... 486 02:07:41,582 --> 02:07:46,144 ...while new centres of production are created. 487 02:07:46,282 --> 02:07:49,979 That's not a new development. 488 02:07:50,115 --> 02:07:56,281 You can regard money as a product which you can sell. 489 02:07:56,415 --> 02:08:00,613 Just like debts may be saleable products. 490 02:08:00,916 --> 02:08:02,349 A country may have debts... 491 02:08:02,482 --> 02:08:06,509 ...but may be interesting for investors, Brazil for example... 492 02:08:06,649 --> 02:08:08,514 ...as a long-term proposition. 493 02:08:08,649 --> 02:08:13,848 You can trade the debts to help others invest. 494 02:08:13,982 --> 02:08:15,916 But how does that work? 495 02:08:16,049 --> 02:08:23,251 Well, a trader doesn't give away all his secrets... 496 02:08:23,383 --> 02:08:28,013 ...but people who have a claim against a country like Brazil... 497 02:08:28,149 --> 02:08:32,210 ...may sell it to others who are prepared to invest. 498 02:08:32,349 --> 02:08:34,613 So someone else takes over the debts? 499 02:08:34,917 --> 02:08:40,048 Someone buys the debt and can use it to invest in Brazil. 500 02:08:40,184 --> 02:08:46,180 Local cash is made available by a credit note. 501 02:08:46,317 --> 02:08:52,984 What if Brazil can't pay? That's what intrigues me a bit. 502 02:08:53,117 --> 02:08:59,545 Brazil cannot repay in one go its 102 billion dollar debt... 503 02:08:59,850 --> 02:09:01,943 ...but it can always pay back something. 504 02:09:02,083 --> 02:09:06,884 Most countries like Brazil, Venezuela and all the others... 505 02:09:07,018 --> 02:09:10,112 ...are still paying the interest on the debt. 506 02:09:10,250 --> 02:09:12,343 So you don't have to write off the debt. 507 02:09:12,484 --> 02:09:14,816 You just have to have reserves in your books... 508 02:09:14,951 --> 02:09:17,419 ...depending on the country you're working in. 509 02:09:17,551 --> 02:09:19,576 But it doesn't have to be written off. 510 02:09:19,884 --> 02:09:22,352 A well-known US banker once said: 511 02:09:22,484 --> 02:09:25,510 "I don't want the loans paid off... 512 02:09:25,651 --> 02:09:30,213 ...because I'd just have to find other borrowers." 513 02:09:30,351 --> 02:09:32,319 The problem with developing nations... 514 02:09:32,451 --> 02:09:35,579 ...is that they may have the raw materials... 515 02:09:35,884 --> 02:09:40,912 ...but they're handicapped by their large populations. 516 02:09:41,051 --> 02:09:45,954 But the industrial nations have their welfare systems... 517 02:09:46,085 --> 02:09:49,816 ...which makes them expensive to produce in. 518 02:09:49,952 --> 02:09:52,250 If manufacture is expensive... 519 02:09:52,385 --> 02:09:55,411 ...you have to look for somewhere cheaper... 520 02:09:55,552 --> 02:09:57,884 ...with a significant home market. 521 02:09:58,019 --> 02:10:01,011 That happened in Asia, in Hong Kong and in Singapore. 522 02:10:01,152 --> 02:10:03,450 That is still happening in Japan... 523 02:10:03,586 --> 02:10:09,081 ...where the production costs are still lower than in Europe or America. 524 02:10:09,219 --> 02:10:11,483 You then have a home market of... 525 02:10:11,619 --> 02:10:16,386 ...around 500 million people in Asia, excluding China. 526 02:10:16,519 --> 02:10:18,987 The same could happen in South America. 527 02:10:19,119 --> 02:10:24,455 Brazil is setting up industries. They have to find work for those people. 528 02:10:24,586 --> 02:10:27,919 Information is crucial. The banking industry... 529 02:10:28,053 --> 02:10:32,285 ...concentrates on financial information. 530 02:10:32,420 --> 02:10:38,290 The banks must also be informed very quickly, so that they have... 531 02:10:38,420 --> 02:10:41,150 ...an added advantage... 532 02:10:41,287 --> 02:10:44,586 ...so they can serve the clients better and earn more. 533 02:10:44,886 --> 02:10:48,344 An advantage for one person means a disadvantage for another. 534 02:10:48,487 --> 02:10:52,116 Yes, it's always a struggle for a market share. 535 02:10:52,253 --> 02:10:54,016 And there are many players. 536 02:10:54,153 --> 02:11:00,149 That must also be the attraction, the sport you might say. 537 02:11:00,287 --> 02:11:02,482 Fighting is always interesting if you win. 538 02:11:02,620 --> 02:11:06,078 Losing is not much fun. - Does it happen? 539 02:11:06,221 --> 02:11:08,212 Unfortunately it does. 540 02:11:08,354 --> 02:11:11,289 You all win and you all lose, that's clear. 541 02:11:11,421 --> 02:11:15,619 It's part of the game. You have to put up with it. 542 02:11:15,921 --> 02:11:21,154 But if you take bigger risks you also have a better chance... 543 02:11:21,288 --> 02:11:25,452 ...of an important transaction. - Make more money, you mean? 544 02:11:25,588 --> 02:11:29,251 It may be possible, but we can't say too much yet... 545 02:11:29,388 --> 02:11:33,222 ...that the assets frozen in countries... 546 02:11:33,354 --> 02:11:38,451 ...with droughts and famines such as Ethiopia and Sudan... 547 02:11:38,588 --> 02:11:44,254 ...where food aid is provided by the Red Cross and other bodies... 548 02:11:44,389 --> 02:11:48,485 ...things can be arranged in such a way... 549 02:11:48,622 --> 02:11:54,424 ...that the frozen assets belonging to banks and companies... 550 02:11:54,556 --> 02:11:56,319 ...are used in that way. 551 02:11:56,455 --> 02:12:01,620 Food and goods can then be bought with local currencies. 552 02:12:01,923 --> 02:12:05,859 More can be bought that way and the money can be paid abroad... 553 02:12:05,989 --> 02:12:09,322 ...after consultations with the central banks... 554 02:12:09,455 --> 02:12:13,482 ...to the Red Cross or other organisations. 555 02:12:13,622 --> 02:12:17,422 Here, for instance. - A bank can get in on the act. 556 02:12:17,556 --> 02:12:21,014 Because the bank knows several of the parties... 557 02:12:21,156 --> 02:12:24,421 ...and can channel information... 558 02:12:24,557 --> 02:12:26,923 ...so it acquires the right to earn money. 559 02:12:56,558 --> 02:12:58,492 And a pound of strawberries. 560 02:13:04,624 --> 02:13:06,922 Strawberries. Cherries. 561 02:13:09,124 --> 02:13:10,921 Without stones. 562 02:13:15,424 --> 02:13:17,016 Thanks, dear. 563 02:13:20,925 --> 02:13:22,552 There you are. Who's next? 564 02:13:35,925 --> 02:13:38,155 Who's next? Tell me... 565 02:13:57,492 --> 02:14:00,859 My dear ladies, let your hearts sing. 566 02:14:02,293 --> 02:14:05,456 They make you blush. 567 02:14:44,627 --> 02:14:47,289 You want a pound, too, dear? 568 02:15:57,362 --> 02:16:00,058 I FEEL SO LONELY 569 02:16:00,362 --> 02:16:03,627 IF ONLY I HAD SOMEONE TO LOVE 570 02:16:57,630 --> 02:17:00,599 The American dollar price plummeted world wide. 571 02:17:00,730 --> 02:17:02,994 In Holland by 17 cents. 572 02:17:03,131 --> 02:17:08,569 It follows the decision of the 5 major industrial nations, taken in Washington... 573 02:17:08,698 --> 02:17:11,724 ...to join forces and push the dollar down. 574 02:17:11,864 --> 02:17:15,994 The news from the US caused nervous scenes on the foreign exchanges. 575 02:17:16,131 --> 02:17:20,363 European and Japanese currencies increased in value. 576 02:17:20,498 --> 02:17:23,092 The consequences for the Third World... 577 02:18:20,767 --> 02:18:23,600 The Bank for International Settlements states... 578 02:18:23,667 --> 02:18:26,864 ...that in the year 1984 the Third World... 579 02:18:27,000 --> 02:18:32,700 ...paid twice as much money into the International Banks as it received. 45613

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