Bill Still's Money Masters

[akelch]

I have watched Bill Still's Money Masters and the Secret of Oz and I think they are both very well done. Though I am not a economist, I think his solutions to solve our debit money system seems logical.

Here is his 3.5 hour documentary of Money Masters.



I would love to hear your thoughts on his solution to our monetary system.

 

[Mad Scientist]

The Solution being going back to a Constitutional Money System and getting rid of the Banksters.

I'm all for it!

A Revolution is gonna' have to happen first because out Congress is totally corrupt and captured by the Banksters.

 

[akelch]

I agree...a reeducating of the public about the Federal Reserve is also needed.

 

[Toddsterpatriot]

I have watched Bill Still's Money Masters and the Secret of Oz and I think they are both very well done. Though I am not a economist, I think his solutions to solve our debit money system seems logical.

Here is his 3.5 hour documentary of Money Masters.

The Money Masters ~ Full Movie - YouTube

I would love to hear your thoughts on his solution to our monetary system.

He's a silly man. His videos are full of errors. Don't waste your time.

 

[akelch]

For those of you that do not have time to watch the 3.5 hour movie..in short....Bill's idea is to abolish the Fed and transfer all money creating to the National Treasury Department. Money then would be created (debit free fiat currency) using a formula in order to control the quantity. Plus, outlaw fractal reserve banking. Banks will then need to have 100% reserves.

Again...I am not a economist but this does sound viable. I believe Milton Friedman came up with a monetary formula back in the 80's that would do exactly this.

 

[akelch]

I have watched Bill Still's Money Masters and the Secret of Oz and I think they are both very well done. Though I am not a economist, I think his solutions to solve our debit money system seems logical.

Here is his 3.5 hour documentary of Money Masters.

The Money Masters ~ Full Movie - YouTube

I would love to hear your thoughts on his solution to our monetary system.

He's a silly man. His videos are full of errors. Don't waste your time.

Please point out some errors....I want to know.

 

[Toddsterpatriot]

For those of you that do not have time to watch the 3.5 hour movie..in short....Bill's idea is to abolish the Fed and transfer all money creating to the National Treasury Department. Money then would be created (debit free fiat currency) using a formula in order to control the quantity. Plus, outlaw fractal reserve banking. Banks will then need to have 100% reserves.

Again...I am not a economist but this does sound viable. I believe Milton Friedman came up with a monetary formula back in the 80's that would do exactly this.

100% reserves? How would that work? How would you borrow?

What does debit free mean? I don't pay interest on my FRNs, do you?

 

[Toddsterpatriot]

I have watched Bill Still's Money Masters and the Secret of Oz and I think they are both very well done. Though I am not a economist, I think his solutions to solve our debit money system seems logical.

Here is his 3.5 hour documentary of Money Masters.

The Money Masters ~ Full Movie - YouTube

I would love to hear your thoughts on his solution to our monetary system.

He's a silly man. His videos are full of errors. Don't waste your time.

Please point out some errors....I want to know.

He said the Fed isn't Federal and has no reserves.

Of course it's Federal, it was created by Congress and signed into law by the President.

As far as reserves, they hold $1.6 trillion in Treasuries, $940 billion in insured MBS and almost $450 billion in gold. I could go on, but do I really have to?

 

[akelch]

He's a silly man. His videos are full of errors. Don't waste your time.

Please point out some errors....I want to know.

He said the Fed isn't Federal and has no reserves.

Of course it's Federal, it was created by Congress and signed into law by the President.

As far as reserves, they hold $1.6 trillion in Treasuries, $940 billion in insured MBS and almost $450 billion in gold. I could go on, but do I really have to?

The Fed is not owned by the government. Congress doesn't control it. Nor can it audit its books. It is a banking cartel that is disguised as part of the federal government.

The Fed creates money from nothing then leans it out with interest. Thus, every dollar has debt associated with it.

If Bill has his way....the Treasury department would create the money then spend it into the market....debt free.

As far as the 100% reserves....In order to get the new Treasury money in circulation ... You would slowing supply the banks with cash and lower the fractal reserve amount until they have 100% reserve.

 

[Toddsterpatriot]

Please point out some errors....I want to know.

He said the Fed isn't Federal and has no reserves.

Of course it's Federal, it was created by Congress and signed into law by the President.

As far as reserves, they hold $1.6 trillion in Treasuries, $940 billion in insured MBS and almost $450 billion in gold. I could go on, but do I really have to?

The Fed is not owned by the government. Congress doesn't control it. Nor can it audit its books. It is a banking cartel that is disguised as part of the federal government.

The Fed creates money from nothing then leans it out with interest. Thus, every dollar has debt associated with it.

If Bill has his way....the Treasury department would create the money then spend it into the market....debt free.

As far as the 100% reserves....In order to get the new Treasury money in circulation ... You would slowing supply the banks with cash and lower the fractal reserve amount until they have 100% reserve.

The Fed is not owned by the government.

Sure it is.

Congress doesn't control it.

Not the day to day operations, but they created their dual mandate and could pass a law tomorrow giving Congress direct control, if they wanted.

Nor can it audit its books.

They're audited every year and release their balance sheet weekly.

The Fed creates money from nothing then leans it out with interest.

They buy bonds with it. So?

Thus, every dollar has debt associated with it.

They could create money from nothing and buy wheat or oil or gasoline with it. So what?

If Bill has his way....

Great idea, let the government fund spending with the printing press, what could go wrong?

As far as the 100% reserves....

Why is 100% reserves better? And how would you borrow?

 

[Mad Scientist]

The Privately Owned Federal Reserve has been audited a grand total of: Once (Thanks to Ron Paul!)

GAO Fed Investigation

Good breakdown of it here:

First Audit Results In The Federal Reserve's Nearly 100 Year History Were Posted Today, They Are Startling! | Economy

Who received most money from the Fed? Yes, that says Trillions!

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)

 

[Mad Scientist]

Though I am not a economist, I think his solutions to solve our debit money system seems logical.

You don't have to be a Thief to know when you're being Robbed.

 

[Toddsterpatriot]

The Privately Owned Federal Reserve has been audited a grand total of: Once (Thanks to Ron Paul!)

GAO Fed Investigation

Good breakdown of it here:

First Audit Results In The Federal Reserve's Nearly 100 Year History Were Posted Today, They Are Startling! | Economy

Who received most money from the Fed? Yes, that says Trillions!

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)

The Privately Owned Federal Reserve has been audited a grand total of: Once

You are mistaken.

FRB: Fed financial statements - Credit and Liquidity Programs and the Balance Sheet

Who received most money from the Fed?

Yes, short term loans, rolled over many times. Long ago repaid.
At a huge profit to the Treasury (TARP) and the Fed (overnight loans).

 

[Mad Scientist]

The Privately Owned Federal Reserve has been audited a grand total of: Once

You are mistaken.

FRB: Fed financial statements - Credit and Liquidity Programs and the Balance Sheet

Who received most money from the Fed?

Yes, short term loans, rolled over many times. Long ago repaid.
At a huge profit to the Treasury (TARP) and the Fed (overnight loans).

The Fed used it's own Auditors, not independent ones. You REALLY think that Banksters will honestly audit themselves?

And no, the money hasn't been paid back. The Fed loaned out 7.7 Trillion since 2008 and has paid back 78 Billion so far. That means it will take 100 years just to pay back the Principle. Sounds like a Zero Interest Loan to me, nice if you can get it huh? But we're not Banksters are we?

 

[Toddsterpatriot]

The Privately Owned Federal Reserve has been audited a grand total of: Once

You are mistaken.

FRB: Fed financial statements - Credit and Liquidity Programs and the Balance Sheet

Who received most money from the Fed?

Yes, short term loans, rolled over many times. Long ago repaid.
At a huge profit to the Treasury (TARP) and the Fed (overnight loans).

The Fed used it's own Auditors, not independent ones. You REALLY think that Banksters will honestly audit themselves?

And no, the money hasn't been paid back. The Fed loaned out 7.7 Trillion since 2008 and has paid back 78 Billion so far. That means it will take 100 years just to pay back the Principle. Sounds like a Zero Interest Loan to me, nice if you can get it huh? But we're not Banksters are we?

The Fed used it's own Auditors, not independent ones.

Deloitte was the auditor.

And no, the money hasn't been paid back.

Yes it has.

The Fed loaned out 7.7 Trillion since 2008

Not at one time. Not even close. If they loaned $1 billion and it was repaid and reloaned 50 times, why would you say they loaned $50 billion if the most loaned at one time was $1 billion?

and has paid back 78 Billion so far.

Where did you hear that?

That means it will take 100 years just to pay back the Principle.

All the overnight/short term loans were paid back long ago. The Fed's entire balance sheet is less than $3 trillion, where do you see $7 trillion?

Sounds like a Zero Interest Loan to me,

The overnight rate is currently 0.75%, not Zero.

 

[Mad Scientist]

$7.77 Trillion:
Fed Loaned Banks Trillions in Bailout, Bloomberg Reports - ABC News
$78 Billion paid back:
The Federal Reserve Paid Back Approximately $78 Billion to the Treasury in Fiscal 2010

Deloitte is a PRIVATE Auditor selected by the Fed. You've just proven the fact that the Federal Reserve is PRIVATE!

That AND The Fed doesn't do AUDITS, they do ASSESSMENTS:
FRB: Press Release--Board publishes white paper on process and methodologies employed by federal banking supervisory agencies in capital assessment of large U.S. bank holding companies--April 24, 2009

In doing so, they examined bank data and loss projections, compared loss projections across firms, and developed independent benchmarks against which to evaluate the banks’ estimates. From this analysis, supervisors determined the capital buffer needed to ensure that the firms would remain appropriately capitalized at the end of 2010 if the economy proves weaker than expected.

Translation: Money Printing will be Needed!

Which is what Helicopter Ben said he was gonna' do even before he was Fed Chairman.

Next?

 

[Toddsterpatriot]

$7.77 Trillion:
Fed Loaned Banks Trillions in Bailout, Bloomberg Reports - ABC News
$78 Billion paid back:
The Federal Reserve Paid Back Approximately $78 Billion to the Treasury in Fiscal 2010

Deloitte is a PRIVATE Auditor selected by the Fed. You've just proven the fact that the Federal Reserve is PRIVATE!

That AND The Fed doesn't do AUDITS, they do ASSESSMENTS:
FRB: Press Release--Board publishes white paper on process and methodologies employed by federal banking supervisory agencies in capital assessment of large U.S. bank holding companies--April 24, 2009

In doing so, they examined bank data and loss projections, compared loss projections across firms, and developed independent benchmarks against which to evaluate the banks’ estimates. From this analysis, supervisors determined the capital buffer needed to ensure that the firms would remain appropriately capitalized at the end of 2010 if the economy proves weaker than expected.

Translation: Money Printing will be Needed!

Which is what Helicopter Ben said he was gonna' do even before he was Fed Chairman.

Next?

The Federal Reserve Paid Back Approximately $78 Billion to the Treasury in Fiscal 2010

I see your confusion now. The Fed doesn't borrow from the Treasury, so they don't need to pay the Treasury back.

The Fed created money from thin air, lent it out to banks and the banks paid it back.

Deloitte is a PRIVATE Auditor selected by the Fed.

Yes, which was auditing the Fed before Ron Paul's silly bill.

You've just proven the fact that the Federal Reserve is PRIVATE!

No, just proved they were audited more than once.

That AND The Fed doesn't do AUDITS, they do ASSESSMENTS:

Now you're confusing an audit of the Fed with the Fed's supervision of member banks.

Translation: Money Printing will be Needed!

How does more printing increase capital buffers?

 

[Mad Scientist]

The Federal Reserve Paid Back Approximately $78 Billion to the Treasury in Fiscal 2010

I see your confusion now. The Fed doesn't borrow from the Treasury, so they don't need to pay the Treasury back.

The Fed created money from thin air, lent it out to banks and the banks paid it back.

The US Gov't Borrows from the Fed.

The Fed doesn't borrow from anyone, they control the money supply! They can expand or contract their balance sheets by simply entering one's and zero's into a computer. The Fed loaned out $7.7 Trillion to other Banks and put $78 Billion in the treasury AFTER they had paid themselves bonuses!

The Constitution states that the Congress has control over the Money Supply. But they passed (and some say it really didn't pass) the Federal Reserve Act in 1913 giving control of the money to a Private Bank which was deceptively named "The Federal Reserve" which also created the IRS which is the "Collection Arm" of the Federal Reserve.

The US Gov't spends more than it takes in on a monthly basis, that's called a "Budget Deficit". Do you know how they make up that deficit? They Borrow Money from the Fed! At Interest!

And what did the Privately Owned Banks want in return for Controlling the Money Supply and Loaning Money to the US Gov't? They wanted an "Income Tax" put on the nations top earners paid direct to THEM!

Do you know what that means Todd? Your income taxes don't go to the US Gov't, they go to the Privately Owned Federal Reserve. That ALSO means that ANY tax hikes will go DIRECT to Private Banks NOT the US Gov't!

 

[Toddsterpatriot]

The Federal Reserve Paid Back Approximately $78 Billion to the Treasury in Fiscal 2010

I see your confusion now. The Fed doesn't borrow from the Treasury, so they don't need to pay the Treasury back.

The Fed created money from thin air, lent it out to banks and the banks paid it back.

The US Gov't Borrows from the Fed.

The Fed doesn't borrow from anyone, they control the money supply! They can expand or contract their balance sheets by simply entering one's and zero's into a computer. The Fed loaned out $7.7 Trillion to other Banks and put $78 Billion in the treasury AFTER they had paid themselves bonuses!

The Constitution states that the Congress has control over the Money Supply. But they passed (and some say it really didn't pass) the Federal Reserve Act in 1913 giving control of the money to a Private Bank which was deceptively named "The Federal Reserve" which also created the IRS which is the "Collection Arm" of the Federal Reserve.

The US Gov't spends more than it takes in on a monthly basis, that's called a "Budget Deficit". Do you know how they make up that deficit? They Borrow Money from the Fed! At Interest!

And what did the Privately Owned Banks want in return for Controlling the Money Supply and Loaning Money to the US Gov't? They wanted an "Income Tax" put on the nations top earners paid direct to THEM!

Do you know what that means Todd? Your income taxes don't go to the US Gov't, they go to the Privately Owned Federal Reserve. That ALSO means that ANY tax hikes will go DIRECT to Private Banks NOT the US Gov't!

The Fed loaned out $7.7 Trillion to other Banks

And the banks paid it back. Glad we cleared that up.

and put $78 Billion in the treasury

Kinda strange thing to do, if it was a private bank.

But they passed the Federal Reserve Act in 1913

Yes they did.

(and some say it really didn't pass)

Just the silly ones say that.

giving control of the money to a Private Bank

Except for the word private, yes.

which also created the IRS which is the "Collection Arm" of the Federal Reserve.

The FRA didn't create the IRS. The Fed needs a collection arm? LOL!

Do you know how they make up that deficit?

They sell bonds.

And what did the Privately Owned Banks want in return for Controlling the Money Supply and Loaning Money to the US Gov't?

To give 90% of their earnings back to the government?

Your income taxes don't go to the US Gov't, they go to the Privately Owned Federal Reserve.

Wow, that's a silly claim.

 

[Toddsterpatriot]

Please point out some errors....I want to know.

He said the Fed isn't Federal and has no reserves.

Of course it's Federal, it was created by Congress and signed into law by the President.

As far as reserves, they hold $1.6 trillion in Treasuries, $940 billion in insured MBS and almost $450 billion in gold. I could go on, but do I really have to?

The Fed is not owned by the government. Congress doesn't control it. Nor can it audit its books. It is a banking cartel that is disguised as part of the federal government.

The Fed creates money from nothing then leans it out with interest. Thus, every dollar has debt associated with it.

If Bill has his way....the Treasury department would create the money then spend it into the market....debt free.

As far as the 100% reserves....In order to get the new Treasury money in circulation ... You would slowing supply the banks with cash and lower the fractal reserve amount until they have 100% reserve.

As far as the 100% reserves....

You never answered, why is 100% reserves better? And how would you borrow?