Do you understand why the Federal Reserve is Bad?

[Clementine]

Few understand our banking and monetary system. The Federal Reserve should not exist and getting away from banks controlling the money is why our founding fathers got the hell out of Great Britain in the first place. Leave it to a liberal Democrat, Woodrow Wilson, to completely fuck us over. Even he regretted signing the document created by banks. He's also the one to thank for income taxes and the creation of the IRS. Funny how we had roads, businesses, railroads, schools and colleges before the government starting stealing our money to do these things.

Regardless of which party you belong to, watch the video. Our country started down the wrong path 100 years ago. No wonder it can't be fixed. We need to eliminate the Federal Reserve banks. They are the true 1% and the rest of us are slaves. I wish everyone would inform themselves and start overwhelming Washington with letters demanding that government take back control of our currency. I think the Federal Reserve is unconstitutional and should be abolished. Anyone who understands how they work should feel the same. This isn't about party. It's an 'American thing."

Federal Reserve: A Timeline

The Federal Reserve: A Timeline - Liberty Crier

 

[Clementine]

No one wants to comment?

 

[g5000]

I will watch the video in a moment, but the idea of someone like Nancy Pelosi being in charge of the money printing press is about as insane as it gets.

 

[g5000]

Only a minute and a half into the video and there is already one bogus quote, attributed to Ben Franklin.

He never said, "The refusal of King George to allow the colonies to operate an honest money system, which freed the ordinary man from clutches of the money manipulators was probably the prime cause of the revolution."

 

[g5000]

The first quote in the video appears to be implying that when William Pitt was saying there was something behind the throne greater than the throne that Pitt was talking about bankers.

He wasn't. He was talking about Lord Bute.

The next quote is alleged to be from Disraeli which goes like this: "The world is governed by very different personages from what is imagined by those who are not behind the scenes."

Actually the full sentence is, ""So you see, my dear Coningsby, that the world is governed by very different personages from what is imagined by those who are not behind the scenes."

Because it is from a fucking novel written by Disraeli!

"A few years back we were applied to by Russia. Now, there has been no friendship between the court of St. Petersburg and my family. It has Dutch connections, which have generally supplied it; and our representations in favor of the Polish Hebrews, a numerous race, have not been very agreeable to the Czar. However, circumstances drew to an approximation between the Romanoffs and the Sidonias. I resolved to go myself to St. Petersburg. I had, on my arrival, an interview with the Russian Minister of Finance, Count Cancrin; I beheld the son of a Lithuanian Jew. The loan was connected with the affairs of Spain; I resolved upon repairing to Spain from Russia. I traveled without intermission. I had an audience immediately on my arrival with the Spanish Minister, Sefior Mendizabel; I beheld one like myself, the son of a Nuevo Cristiano, a Jew of Arragon. In consequence of what transpired at Madrid, I went straight to Paris to consult the President of the French Council; I beheld the son of a French Jew, a hero, an imperial marshal, and very properly so, for who should be military heroes if not those who worship the Lord of Hosts?...

The consequence of our consultations was that some Northern power should be applied to in a friendly and meditative capacity. We fixed on Prussia; and the President of the Council made an application to the Prussian Minister, who attended a few days after on our conference. Count Arnim entered the cabinet, and I beheld a Prussian Jew. So you see, my dear Coningsby, that the world is governed by very different personages from what is imagined by those who are not behind the scenes."

Link



This film is a giant steaming pile of bullshit.

 

[Clementine]

Quotes aside, do you agree that we should be forever in debt having private banks loan us our own currency? There is interest on our own currency and they have to loan us more to pay the interest, which means more interest. You see how it's designed to keep us forever in debt. We never should have sold out to private banks.

 

[LoneLaugher]

What do you prefer? A return to the gold standard?

 

[g5000]

At the two to three minute mark, the film says the following:

It doesn't take a lot of ingenuity to figure this scam out. Every single dollar produced by the central bank is loaned at interest. That means every single dollar produced is actually the dollar plus a certain percent of debt based on that dollar.

So far, so good, kind of. The creation of money loaned at interest allows for the creation of wealth and economic growth.

But then it goes off the rails:

And since the central bank has the monopoly over the production of the currency for the entire country, and they loan each dollar out with immediate debt attached to it, where does the money to pay for the debt come from?

Anyone? Anyone?

That's right. Federal revenues. And profits from private industry.

But the idiot in the film says instead:

It can only come from the central bank again. Which means the central bank has to perpetually increase its money supply.

In actuality, most of the interest paid to the Fed is returned to the US Treasury.

 

[Mad Scientist]

Americans don't even know where their money comes from!

Complete Communist takeover will be easier than I thought!

 

[Mad Scientist]

I will watch the video in a moment, but the idea of someone like Nancy Pelosi being in charge of the money printing press is about as insane as it gets.

Yes, unelected, unaccountable International Banker is much better.

 

[boedicca]

I suggest "The Creature from Jekyll Island" for a good read on how the Fed was formed and why it is so damaging.

 

[LoneLaugher]

Modern Monetary Theory Primer - New Economic Perspectives

 

[g5000]

I will watch the video in a moment, but the idea of someone like Nancy Pelosi being in charge of the money printing press is about as insane as it gets.

Yes, unelected, unaccountable International Banker is much better.

Yes, a person educated in finance is a far superior choice than a demagogue who will print money just before every election no matter how inflationary it gets.

 

[g5000]

The maker of the film, and most Fed conspiracy theorists, have no understanding of the dynamic nature of money.

And it seems every one of them who makes a film stuffs it chock full of bullshit quotes.

 

[Obamanation]

Only a minute and a half into the video and there is already one bogus quote, attributed to Ben Franklin.

He never said, "The refusal of King George to allow the colonies to operate an honest money system, which freed the ordinary man from clutches of the money manipulators was probably the prime cause of the revolution."

I have found several sources giving Ben credit for this...

 

[LoneLaugher]

Where is the inflation at, by the way? Shouldn't we be seeing it by now?

 

[Obamanation]

The maker of the film, and most Fed conspiracy theorists, have no understanding of the dynamic nature of money.

And it seems every one of them who makes a film stuffs it chock full of bullshit quotes.

Would love to see your theories on how the Fed really works...

looking to learn, not looking to slam!

 

[g5000]

A man write a check for $100 for some goods.

The receiver of the check uses it to buy more parts to make more goods. He makes 20 dollars profit from the $100 of parts he buys.

The check is continually used up the chain with each person making a profit from the goods or parts he buys.

The tenth person cashes the check and it bounces.

All told, $200 profit has been made by the ten people who used the check as payment for the items they later sold at a markup.

The ten people get together and pay for the $100 bounced check, and still have $100 left over.

All from a completely bogus piece of paper.

This is the dynamic nature of money.


When a bank makes a loan, money is created for that loan. And this is where the anti-Fedder story always stops. Oh, look! Inflationary printing of money!

However, the person receiving the loan uses that money for their business, generating profits. They keep some of the profit and use some to pay the interest on the loan. When the principal is repaid, the money that was created is then destroyed. That's the part all of these bogus films leave out. The institution which made the loan receives interest profit, and the company that borrowed the money made a profit it otherwise could not have made without the loan.

Anti-Fedders leave out the wealth creation and economic growth that was made possible by this arrangement.

 

[Obamanation]

Where is the inflation at, by the way? Shouldn't we be seeing it by now?

You don't see the inflation? are you living in a bubble?

 

[Obamanation]

A man write a check for $100 for some goods.

The receiver of the check uses it to buy more parts to make more goods. He makes 20 dollars profit from the $100 of parts he buys.

The check is continually used up the chain with each person making a profit from the goods or parts he buys.

The tenth person cashes the check and it bounces.

All told, $200 profit has been made by the ten people who used the check as payment for the items they later sold at a markup.

The ten people get together and pay for the $100 bounced check, and still have $100 left over.

All from a completely bogus piece of paper.

This is the dynamic nature of money.


When a bank makes a loan, money is created for that loan. And this is where the anti-Fedder story always stops. Oh, look! Inflationary printing of money!

However, the person receiving the loan uses that money for their business, generating profits. They keep some of the profit and use some to pay the interest on the loan. When the principal is repaid, the money that was created is then destroyed. That's the part all of these bogus films leave out. The institution which made the loan receives interest profit, and the company that borrowed the money made a profit it otherwise could not have made without the loan.

Anti-Fedders leave out the wealth creation and economic growth that was made possible by this arrangement.

...and when the business who originated the loan fails? Then "fake" money enters the market for good with no interest return to the fed or the cash that originated the loan. right?