You know this is going to be a good video when Lew Rockwell is already outright saying there is no difference between the fed and a burgler

15 years… WOW. And it is still one of the best videos in KZread. They predicted literally everything.

@yungrel1916

Жыл бұрын

17 now .. this is crazy seeing a video being this old on KZread

@Melanie-xp7st

6 ай бұрын

Not predictable but planned

Recession is often the result of external factors, and it appears that the United States is losing its grip as a federal reserve currency. With a decreasing ability to control inflation and a reduction in stocks and oil trading, it seems that a new multilateral world order is on the horizon.

@yolanderiche7476

10 ай бұрын

I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

@edelineguillet2121

10 ай бұрын

Picking stocks is a risky thing to do, particularly for non-professionals. I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor, who has better knowledge of the market than I do, and I've been returning at least $38k every month. Just too bad I didn't learn the lesson early on.

@edelineguillet2121

10 ай бұрын

I'm not one to give investment advice, because I believe everybody's situation is unique. However, I work with Julia Ann Finnicum , and all I can say is that she's really good at what she does.

@saukrates420

2 ай бұрын

The U.S.'s ability to 'control inflation' what that really meant is it could effectively 'export inflation' unto the other nations' central banks who hold and own U.S. Treasury securities. Michael Hudson an Economist wrote a book called 'Superimperialism'

"If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered." Thomas Jefferson

@duggydugg3937

6 ай бұрын

TJ got it USG is bribed or blackmailed into letting 'fed' issue imitation USD.. now we're in $33 Tn debt

" It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford

@DumaM-ir7rk

3 ай бұрын

The Americans are more educated but no war since this words

Isn't it interesting that the Federal Income Tax coincided with the introduction of the creation of the Federal Reserve...

@manualforfreedom5343

4 жыл бұрын

Interesting indeed. Here's our take on this matter. kzread.info/dash/bejne/k2GDtZt6fq7AY5s.html

@atheplummer

4 жыл бұрын

@@manualforfreedom5343 Income taxation was created as a mechanism to pay the interest on the federal debt, to the Federal Reserve, to wit the 'owners' of the Fed get, by law, a 6% return on their 'investment'. All the words I've written in quotes are euphemisms for more lies. Income tax does not fund nor support the government, it just pays the interest on the money the government injected into the system previously. I call it 'sharecropping' without land. Every dollar traded as profit, is subject to 1/3 sharing with the fed, through taxation. Much in the way a landowner leases his farm ground to the farmer.... Traditionally that is a 1/3 split to the landowner upon harvest. So, who owns everything? The Fed. All of your labor, your production, your home, car... absolutely everything is already 'owned' by the ones that own the money we continually strive to obtain. We are nothing more than tax cattle. I believe we need a money system that uses a metric balanced with the actual living population to eliminate interest. A SSN audit times a factor (say $100,000) per living SSN would be the absolute LIMIT that the Treasury could print, with zero interest, for the government to inject into the money system. Once this is accomplished, a systematic drawing down of the fractional reserve percentage could be implemented, till it's eliminated... Say reducing the fractional reserve lending rate by 10% every 5 years. It's my opinion that eliminating paying interest on money in circulation to the Fed, along with controlling the amount of money created is the best and only way to lift people out of poverty. And this would also help every other country in the world, as a rising tide raises all boats. But, how do we implement this without the oligarchs killing the ones who have the power to do so? It can only be done with mass awareness. Sadly most of the people are 'sheeple' and just don't care, because this topic doesn't have colored jerseys to watch on them. IT's not exciting like bread and circus.

@WildAlchemicalSpirit

4 жыл бұрын

@@atheplummer this is why education is so critical. It is a shame that it seems to continually be underfunded and that this sort of information does not end up in the text books. Clearly not a coincidence. If people were really taught the truth, there'd be a lot more attendance and higher graduation rates. The public would become a force to be reckoned with if the majority were using critical thinking.

@atheplummer

4 жыл бұрын

@@WildAlchemicalSpirit Government education isn't designed to teach critical thinking. It's only mechanism is to teach what to think. This is by design. The public education system was originally created by the same people that ultimately own the Federal Reserve Bank, and was designed to just teach the masses enough to do the work that the oligarch's needed done, but not be intelligent enough to see their enslavement. Once the system was created, it was merely handed over to the 'public' to continue to pay for the education system.

@jamesdjl4359

4 жыл бұрын

@@atheplummer Everything you've said runs true. Indoctrinated from a young age. Never intended to really see the truth.

History repeating itself once again 2020

@WildAlchemicalSpirit

4 жыл бұрын

Sadly!! 😭

@AndrewCosmos7

3 жыл бұрын

Haha money printer go brr

@brianlaroche8856

3 жыл бұрын

dude. "History" never changed...

@8jragonmauriora884

2 жыл бұрын

@@brianlaroche8856 Duh... lol. True.

@brianlaroche8856

2 жыл бұрын

@@8jragonmauriora884 i mean not in human evolution terms looong time but in theocratic military economic reegime short +/- last 1000 2000yrs. Age of empires in not a video game. And its illegal (current modern laws) according to "laws" or "humanitarian" equality. & Well beeing. Which matters the least to the fat rodents

I've probably shared this video over 100 times over the years. I've turned so many people on to destroying the FED thanks to this video. good job mises.

@lifehope4603

2 жыл бұрын

Cryptos too... More control

@bitcoindaddy1

Жыл бұрын

Still works today

"I sincerely believe that banking institutions having the issuing power of money, is more dangerous to liberty than standing armies." ~ Thomas Jefferson "The government should create, issue, and circulate all currency. Creating and issuing money is the supreme prerogative of government anf its gretaest creative opportunity. Adopting these principles will save the taxpayers immense sums of interest and money will cease to be the master and become the servant of humanity." ~ Abraham Lincoln

@IIISelim-rb4pg

Жыл бұрын

Lincoln is treator of the people

@Individual_Lives_Matter

Жыл бұрын

I guess that cements Lincoln’s position as a turd.

@lord723518

5 ай бұрын

I started working in 2019. Now is 2024. I lost 2.77% in my 401k in this 5 year when account for inflation. But because I didn’t paid taxes on 401k contributions and my employer made 50% of those contributions - I see a great deal in all of this. I don’t think 401k would exist without FED. So I’m happy with the current state)

Insightful video. I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I'm 27, and earn nothing less $150k per year, but nothing to show for it yet.

@sherryie2

10 ай бұрын

When people have money, they spend it. And some people spend more money when they have more of it. If you want to improve your financial management, you should consult with a financial advisor.

@corrySledd

10 ай бұрын

@@sherryie2 That's right, you can avoid the traps of lifestyle inflation by consulting an expert advisor to help you plan for your short- and long-term goals; it all comes down to proper guidance. Over the past two years and six months, I have seen my income build wealth and now have a fully paid off house and at least $650,000 in stocks. All this is the result of subsequent investments with my savings and the application of expert advice.

@AUstinnesc

10 ай бұрын

@@corrySledd Nice, who is the Financial Advisor aiding you if this is not much i'm asking? my retirement plans are going down the drain with my 401k particularly losing everything it gained ever since 2021.

@AUstinnesc

10 ай бұрын

@@corrySledd Thanks for the info, i found her website and sent a message hopefully she replies soon.

@mattkelly7253

3 ай бұрын

Who is your financial advisor?

Almost 8 years later and this video is truer than ever.

3 жыл бұрын

Almost 8 years later again and this video is even truer than it was before.

@PedroHenrique-bp8ts

3 жыл бұрын

Now it's almost 14 yo

@bryanb.386

3 жыл бұрын

This 20 year old documentary is about to come to fruition.

@evanhdez

2 жыл бұрын

Looks like you spoke too soon there buddy. It’s even truer now

@user-bg9ht4bw3y

11 ай бұрын

And it’s literally happening now

So this video, created 18 years ago, exactly called out all the problems and precisely predicted exactly what would happen as a result of continued Fed theft. Amazingly bad luck.

@markanderson77

4 жыл бұрын

I got this documentary on VHS in the year 2000. I was trying to educate people on this matter back then. People laughed at me.

@61vtech

4 жыл бұрын

Not luck at all.

@WildAlchemicalSpirit

4 жыл бұрын

Now look at where we are. $2Trillion+ just injected. We are going to see major fallout from this. It may take a while to fully realize it, but it's coming. And yeah, by then it'll conveniently be blamed on something else.

@the_real_economics

2 жыл бұрын

@@markanderson77 They always do, even now.

@williamblair2934

2 жыл бұрын

The people didn’t listen to honest leaders like Ron Paul

I was a Keynesian until I picked up a copy of Tom Woods book on the 2008 recession. Almost by accident. There was something about its message that resonated. So I looked into it a bit more by reading Rothbard and others associated with the Mises Institute. Having studied and taught political economy for several decades I’m quite familiar with the field. And it is clear that the Austrian analysis fits events around the business cycle better than any other perspective

To those that own the current financial system, life must be good. Imagine being able to create money out of nothing, charge interest on it and have the power to take tangible property from people who can't repay this imaginary debt. I still find it amazing that some people are unaware that the majority of 'Central' banks, are privately owned and charge interest on every dollar/euro/pound produced, thus creating the 'national' debt.

@DumaM-ir7rk

3 ай бұрын

You must look at how people judge those who default on debts.

the fact that this video was made just before 2008's recession is amazing

I watch this at lease 50 times...

If only this was shown in public schools 😢

Imagine this. You walk into a bank where you’d like to deposit, looking to see what savings plan is available. You are told by the pretty counter staff you can deposit, get paid with interest PLUS withdraw money at any time. Most nod, but rarely do they ask, “How can the borrower of your money be able to return the money on the day you want it back?” The account lady will simply say, “We keep money on reserve.”

@VD.S587

Жыл бұрын

So what does this mean today asking for myself

This should be made into a movie at the box office for the average citizens

yay Dr. Ron Paul!

@brianlaroche8856

3 жыл бұрын

Not a "Dr." Read

@hegemonycricket2182

3 жыл бұрын

@@brianlaroche8856 Ron Paul is a doctor...or was. He delivered babies for many years

@brianlaroche8856

3 жыл бұрын

@@hegemonycricket2182 not qualified as most politicians to qualify anything based on private interest, phd stays in a factory for the worker developers, and cant spect a plantation owner to ....

@brianlaroche8856

3 жыл бұрын

@@hegemonycricket2182 there are parteras in indigenous comunities in mexico delivering babies, in a shack

Fun fact: 22% of all USD ever created was created in 2020.

@sideshowbob6241

3 жыл бұрын

It's actually even higher than that, it's around 40%, crazy stuff

@jh5131

2 жыл бұрын

@@sideshowbob6241 we are approaching the event horizon now, no way to escape the collapse

@sideshowbob6241

2 жыл бұрын

@@jh5131 definitely, Peter Schiff has warned about this for years, looks like day of reckoning is approaching, the dollar will collapse

@miraclechukwuka4698

2 жыл бұрын

@@jh5131 yes

The music absolutely makes the video! It's so perfect, it almost tells the story.

1M views in 17 years? The most useful/important tool in society and this is all we get. Shame on us.

This documentary has such clarity. It's just like reading Murray.

Very enlightening, if only they concentrated on showing this in school as opposed to the usual economic crap!

17:07 Han" Physical Removal" Hoppes

@maxxxstrong4577

5 жыл бұрын

🚁...so-to-speak!!!

@ProlificThreadworm

5 жыл бұрын

Hoppes, the Austrian brewer

17 Years ago, ancient in KZread terms.

Just discovered this video. What a gem!!! And it’s also funny to see everyone so young.

This is what kids in high school should be studying instead of sex ed

@darriancintron4529

3 жыл бұрын

Rest assured I saw this in highschool and then once again 2 years later in my first economics class in college.

@anjanaashokkumar1994

2 жыл бұрын

Both needs to be taught with equal importance. Our economy is hugely dependent on the size of the population, its health and lifestyle.

@consensus949

2 жыл бұрын

@@anjanaashokkumar1994 yet statistics show that ever since sex ed was introduced, the problem it was advertised to solve has only gotten worse.

@collybeans586

2 жыл бұрын

How about instead of all the lies they tell you about your own history and history in general? Sounds like you just dont like sex ed very much for some reason

@consensus949

2 жыл бұрын

@@collybeans586 seems like you don't like your own history and history in general for some reason. But sure, making kids feel uncomfortable and violated with useless sex ed classes is far more important.

FED history repeating since 1913 until today 2023

All-time best video explaining the history of the banking system in America. Made in the late 90's, and seemingly for a highschool class, this is the single most informational (without the frills) documentary that I have seen on the topic to date...

Thanks for posting this! My library was clean out of this title!

WOW! RON PAUL FROM THE 90'S!

⛔✅ *Anyone looks this in 2019? If "Yes" then why no changes were applied?*

@thehari75

4 жыл бұрын

The fed has too much power

@mybusinessjourney2066

4 жыл бұрын

@@thehari75 The fed has ALL the power

This 1 video would of been an asset for the average person in the public school system

iknow all about it man , seen the video a thousand times, im following videos from the Spirit science channel right now, its contents are truly amazing.

my god ! i cannot hear anything because of this high volume of music terrriblleee crushing the documentary !

@ferelgreat

5 жыл бұрын

Ok - put your hearing aids boomer.

@michaelcartmell9484

5 жыл бұрын

msmalaann Don’t worry, it’s a ridiculous BS hit piece.

@justincale119

4 жыл бұрын

@@michaelcartmell9484 no because the dollar keeps losing value (against gold or bitcoin) . Like wtf is the USA doing??

Am I a nerd for thinking this video is awesome.

Thank you so much for posting this!!

This was great. Thank you. :)

Great points! In Europe they have the ECB,but every country controls its own fiscal policy,which makes it difficult to rein in exorbitant borrowing. In the US, fiscal and monetary policy are both a federal purview. Imo,if the Euro is going to survive,it will have to adopt centralized fiscal policy. You're right people are typically not willing to put the effort in to learn. It took me years, and hundreds of hours to learn monetary economics. And i still consider myself an amateur economist. =)

Audit the FED!

@evalsoftserver

5 жыл бұрын

Randell Porter Lord Voldemort The Story of Mr Roth and the Rich man - Once A Rich Man, met Mr. Roth on a Road, far Away from the City centre, Upon Noticing, Mr. Roth, the Rich man Suddenly noticed, that he lost his Wallet, the Rich man was very Well Know to all the Nations of the World, and Came from a Very Influential European Family That , Included Germanic, Dutch, English, who Lineage goes back Centuries. They were Very Shrewd , and Sometimes Fought over personal disputes over land Rights, The Rich man Adopted many Orphans, including from Native American,and Black African Caribbean , Hispanic Abscetry. The Rich man Asked Mr Roth if he can Loan him money for his long Transport towards the New City centre, under Construction. Mr Roth Acknowledge That he would lend him this money, under one Condition, Mr. Roth explained to the Rich man, that he too, Came from a Wealthy family,He Added that his family wealth, Came from Great Suffering ,Great turmoil, Great Obligations, and In order for him to receive this funds ,he must demand from everyone one he buys from that they explain this fact, The Rich man Was so FEARFUL after this Encounter, that he Immediately Informed All his Relatives At home, and Abroad, they In turn Became FEARFUL, Since then All their Business dealing and Customer were instilled with this same Fear of Mr. Roth. And in reality this MADE Mr. Roth A Very Happy , and Satisfied Richer Man

@hegemonycricket2182

3 жыл бұрын

@@DavidProvost777 ?

@8jragonmauriora884

2 жыл бұрын

According to G. Edward Griffin: The creature of Jekyll Island, auditing the FED is a non-solution. It's nearly 2 hours long but worth watching.

One interesting thing that occurred during the 2008 financial crisis is that the Fed started accepting Mortgage Back Securities along side of Treasury Securities. They abandoned the "bills only" policy. The Fed essentially liquidated the bad assets (MBSs) from AIG, Lehman and Bear Stearns. On the Feds balance sheet, all the bad assets are located in three companies labeled Maiden Lane LLC 1-3. Very interesting stuff. =) federalreserve(.)gov/monetarypolicy/files/BSTcombinedfinstmt2011.pdf

40:37 "...there are no restraints on the Federal reserve..." That right there is the best argument for Bitcoin.

@Eusye7

7 ай бұрын

I can't tell if this is a joke

@BY-cb1mp

3 ай бұрын

What I’ve never understood is, why doesn’t the govt start buying up Bitcoin to get it out of circulation if it’s such a threat.

@rcdenis1

3 ай бұрын

@@BY-cb1mp the current exchange rate of Bitcoin is around $71,000.00. there will only be 21 million in existsnce, ever. So, 21 million x 71,000.00 = the answer to your question. Our tax dollars can be put to better use than that.

I hope and prey Trump tells the FED there services are no longer needed. Oh and the tax payers dont owe you a dime!!!! Who are these people?? Who owns this private business rapping us all. Pisses me off thinking about this

Part 3: The Federal Reserve states that "the financial statements of the Federal Reserve Banks and the Board of Governors are audited annually by an independent outside auditor."[6] The bill's sponsor, Congressman Ron Paul (R-TX), counters by stating that the present audit process exempts the Fed's "most crucial activities".[7]

17 Years ago !!!!! Fascinating Probably one of the most important videos in human history We can do nothing unfortunately Nothing ever happens, Lincoln, JFK....

The value of our money has indeed been decreasing over the past several years. This is an interesting presentation of why that has occurred.

Loved this vid! Old, informative, retro kind.... :)

One of the must-see videos in KZread.

Excellent video. This should be shown to young adults, but well knowledge is oower and ignorant and depressed people are easier to rule. Incredibly well made and concise documentary. Thank you a lot!

Great video!

END THE FED!

Interesting vid. TOTALLY ruined by the foreground music. Absolutely horrible.

@fountaincap

10 жыл бұрын

Really? I liked the classical music. Unless you're referring to the volume of the music? Classier than most modern documentaries that use loud obnoxious music and quick seizure-inducing cuts.

@amadeusk331

10 жыл бұрын

the retards of the general population would prefer rap or bullshit R+B. but of course these are the lowlifes that will be stamped out by the coming economic collapse as economics a subject so far beyond their intelligence and comprehension of people who are stupid enough to like rap; It's like trying to explain calculus to a dog, they'll never get it. people of sub-normal intelligence gravitate to rap like flies to shit

@sarahmalley3630

10 жыл бұрын

is someone grumpy because they lost their trilby?

@snnnoopy

9 жыл бұрын

that's just your opinion......which isn't really a good one, lol

Excellent choices in music! (beside the content of course)

Great analysis on the part of a single commodity, it came about during 1944 known as the Bretton Woods Agreement, a re ratification of the Genoa Accords international agreement in 1922, which created the International Monetary Fund. It was previously known as the gold exchange standard. What governments call monetary cooperation is simply well put from your thought, a concerted action for the sake of credit expansion.

Stop the music!!!!!! AHHHHHHH!!!!! My A.D.D. can't handle it!

Banks don't report their financial earnings to the 'irs.' Why I ask my self?, I earn 100k a year, and I have to pay back🤔😔

Thanks Balanced. I think we will see the emergence of preeminent Eurobonds and maybe the conversion of sovereign debt into these over time. It will be interesting to track the transition. Much depends on the politics throughout the region and the interplay between the major players France and Germany. I cannot emphasize enough to everyone on this board, the importance of education in basic economics and finance if you want to understand the world around you.

@Sm3rti I like that you distinguish between deflation in a fiat system and deflation of prices of a commodity. This is also the distinction between production and "means of exchange." For example, the 2011 trading range for gold was $1319-$1895, or 30%, ending the year at $1531. The range for the U.S. dollar index was 72-81, or 11%. The value of the commodity(gold) was far more unstable in than the value of the dollar, because gold is floating inside the dollar framework. get it? ;)

20:49 Prescient - in our day, the inflation is being blamed on “supply chain” breakage…. Which is orchestrated by a variety of shadowy actors

BITCOOIIIINNNNNN........

Great points! Another problem I see with growing gov is what we see in Greece. Gov spending became such a large part of GDP, that it actually became the chief driver of aggregate demand. Now, when they need to cut spending, it drastically affects demand, causing further decline in output. They're in a catch-22, no way out but economic catastrophe "BUY GOLD NOW" I'm not sure about this. One of the reasons you see so many commercials to buy gold is because the smart investors are selling it. ;)

this was very good. thank you

Annoying music interferes with whispered information

I think this mises institute might be on to something :D

It hasn't been OBJECTIVELY audited. And neither has Fort Knox.

Who else is here waching this on the 110th anniversary of the passing of the 1913 Central Bank act?

End the Fed!

Lol video was made in 2006 wonder how they would feel about the bank bailouts...

@ApolloLeRoux

4 жыл бұрын

Pretty pissed about it

Hey there man, nice vid that you have here. Keep in touch.

Thanks dude. I will look into that.

its literaly a peramid sceme

@owenbenjaminshapiro6285

3 жыл бұрын

It's* literally* pyramid* scheme* Impressive. You got 4 out of 5 words wrong. At least "a" was spelled correctly 😜

@hegemonycricket2182

3 жыл бұрын

@@owenbenjaminshapiro6285 😆

@hegemonycricket2182

3 жыл бұрын

Wow dude. Spelling ffs

Taco cat spelled backwards spells taco cat

@chernobylcoleslaw6698

6 жыл бұрын

ayy lmao woke

@mr.zardoz3344

3 жыл бұрын

No x in nixon.

@mr.zardoz3344

3 жыл бұрын

Racecar.

@jaredl1480

3 жыл бұрын

@@mr.zardoz3344 woah made that comment when I was 13. Time flies

In my teaching I describe the Federal Reserve Note as "a promise to pay nothing in particular." Although history provides the example of the original Bank of Amsterdam as a bank of deposit, there are problems associated with the mining, refining and secured storage of precious metals as backing for paper currency in circulation (or, the electronic balance equivalents owned by a bank depositor). Yet, there is an even more powerful destructive driver in all economic systems (continued)

Such a crucial issue! We must spread the word and stimulate more rational collective thinking and efforts to uncover the unjust.

@friendsforever5012

Жыл бұрын

We need to start attacking the evil ones or they will continue to corrupt us and the system . Take out the bad apples, the cancers from society

If we go back onto the gold standard wouldn't foreign governments, like China, just trade in all of its debt for gold and then we would quickly run out of gold and then what? Our current debt is way higher than our gold reserves so then what should we do?

@richardtaylor3331

8 жыл бұрын

***** Ok, that does nothing to address the point of my comment. Thanks for trying though.

@murat9268

7 жыл бұрын

The price of gold is your problem and solution. If your gold price is same as today, you get huge inflation. But if you make calculation and make one once of gold around 10000-100000 dollars, it solves deflation problem.

@secrets.295

7 жыл бұрын

Gold does make the currency and inflation more stable and it does limits the government from overspending. However I dont think it is any better then the current system. I dont think it is fair for countries which have huge gold mines such as the US and countries that have to import gold. And like you said Gold is not a renewable resources and soon it will finish too. I dont think the Fiat money system is really that bad. I think it just needs more, a lot more regulation and intervention from the government. We should go back to how banks operate in the 50s, 60s, before the deregulation era.

@Tenebrousable

6 жыл бұрын

fix, except for the overspending limiting part, every single datapoint of your comment is upside down compared to reality. Regulation and regulators and regulating institutions only has been multiplying across decades. More of shitty regulation Fed doesn't make the fed better. As it stands, it already does exactly what the administration wants. Source of gold doesn't matter. Propably better of trading for it anyway. Cheaper more likely that way. Properly gold backed currency, without fractional reserve, might be 100k dollars per ounce. So no, one wouldn't run out of it.

cool it with the anti semitic remarks ;)

True wealth has nothing to do with money. Your words prove this.

Great stuff. Thanks.

From Black's Law 4th ed. p. 1157 (1951) Money. In usual and ordinary acceptation it means gold, silver, or paper money used as circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate. [Note the error that any third grader would recognize: Money is “paper money.” This is an error known as circular logic and would and should be recognized by everyone, including judges, attorneys and politicians and it should never be allowed as a defense of law in a moral/ethical/honest society!] In its strict technical sense, “money” means coined metal, usually gold or silver, upon which the government stamp has been impressed to indicate its value. [This assumes the validity of political governments which are based on violence. Hence, “strict technical sense” and the prejudice for “government stamp” betray a glaring mistake in approval of government sanctioned violence, force or aggression! Thus, this assumption leads down the garden path of fallacious reasoning, i.e. evil, wickedness of government force is justified and that might makes right is the only way that money can be coined or created and that of course means one is then a stinkin’ slave on the plantation state of masters/politicians and overseers/enforcers/judges et.al. and that of course is immoral, illogical. Value is subjective and therefore government cannot “fix” it. Value depends on time and place, i.e. it has temporal and geographic properties. Again, fixing “value” is a logical fallacy. Also note that money is coined not printed, i.e. “paper money” is not real money as one cannot “coin” paper!] Definitions are important so as to mitigate misunderstandings, i.e. accuracy in communications is necessary so as to avoid catastrophes. Definitions, so far as possible, should be discriminatory, quantitative, qualitative and segregatory, e.g. the color “red” discriminates when one describes the colors on the flag of the United States, i.e. it does not mean “blue” or “white.” Color codes for electrical wiring are critical. Traffic light colors are rather important, too.] 1 Corinthians 13:11- 13 11 When I was a child, I spake as a child, I understood as a child, I thought as a child: but when I became a man, I put away childish things. 12 For now we see through a glass, darkly; but then face to face: now I know in part; but then shall I know even as also I am known. 13 And now abideth faith, hope, charity, these three; but the greatest of these is charity. Ephesians 5:6 Let no one deceive you with empty words, for because of these things the wrath of God comes upon the sons of disobedience. Just Weights and Measures Divers weights, and divers measures, both of them are alike abomination to the LORD. Proverbs 20:10 King James Bible A false balance is abomination to the LORD: but a just weight is his delight. Proverbs 11:1 Divers weights, and divers measures, both of them are alike abomination to the LORD.Shall I count them pure with the wicked balances, and with the bag of deceitful weights? Micah 6:11 Just balances, just weights, a just ephah, and a just hin, shall ye have: I am the LORD your God, which brought you out of the land of Egypt. Leviticus 19:36 Deuteronomy 25:13-16 13 Thou shalt not have in thy bag divers weights, a great and a small. 14 Thou shalt not have in thine house divers measures, a great and a small. 15 But thou shalt have a perfect and just weight, a perfect and just measure shalt thou have: that thy days may be lengthened in the land which the LORD thy God giveth thee. 16 For all that do such things, and all that do unrighteously, are an abomination unto the LORD thy God. biblehub.com/kjv/deuteronomy/25.htm Paper Gold “Said the crawling peg to the dirty float We’re two lost souls in a leaky boat. And down below there’s a hole in the hold That can’t be plugged with paper gold.” My 2 cents: When people speak of "money" it is well to keep in mind the characteristics or criteria that define real money: 1. easily transportable 2. easily divisible 3. resistant to physical and chemical damage. 4. store of value, not subject to severe inflation (even precious metals suffer this) 5. intrinsic value, a use beyond just a claim check or place holder, sustains life 6. universally recognized and accepted, i.e. people must have confidence in it 7. rarity, not easily found, discovered or synthesized 8. difficult to counterfeit and efficiently analyzed 9. defined in writing, full disclosure 11. easily measured for weight and purity or authenticated 12. It should not be easily monopolized by anyone or any political government I recommend James Ewart’s book, “Money,” and Ralph T. Foster’s book, “Fiat Paper Money.” And in the September 1895 American Federationist, Stephen T. Byington assailed the money monopoly: "No legal tender law is ever needed to make men take good money; its only use is to make them take bad money. Kick it out!"

I would like an unbiased documentary please

@tradingfoursj

9 жыл бұрын

herbertwyndham , check out - money for nothing : inside the federal reserve -. it is way better, it is objective and sensible unlike this crap.

14 year old video, recommended to me today, nice. Thank god it's factual.

Yes! Friedman was a huge critic of the Fed system, but he also was a critic of a gold standard as well. His rules based system is a seldom discussed alternative to the current fed system, but allows for the elasticity of money that modern economies require. If you would like, I can email a copy of A Program for Monetary Stability to you. It is a quick read, and Friedman writes in language that is easy to digest, for economics. If anything, the chapter on banking reform is excellent. =)

The single greatest fear, I have ever had, is for history to repeat its destructive policies, and the people, my own self included for a while, would ignore such important information. What have we become, when a former hoodlum, from Brooklyn, actually steps out, starts with the Roman era, various periods in the "middle ages", to modern history and heavy study of federal reserve and of what our former leaders were truly fighting. The true fight is not against foreign aggressors, or communist, or even directly against the banks. Its against the people indifference and lack of foresight in affairs such as these. Its the heavy manipulation of our very way of thinking. But I wonder if it was some evil man who dumbed down our system, or if it was a cost effective mistake of some lower level moron. All I know, is I'll give my life to help my people, and to bring attention to all done in the dark.

So objectively, gold is intrinsically valuable. But I don't care much for gold myself. I think it gaudy. It smacks of "ill gotten king pin" wealth. I much prefer magnesium as it can flare up when lit by a naked flame, providing hours of entertainment, as we will need it when the "money" supply runs out. What? You wont accept magnesium for your house because your subjective value of gold is higher than my subjective value of magnesium? How is your subjective value more valid than mine? Who made you dictator? Oh, yes, "society" values gold. The collective deems it valuable.

@NeverAloneForever

10 жыл бұрын

Yes, which should tell you that it has an objective basis for being valuable. That is, the money has an objective standard (not debt-based/debt-free fiat) even if that object isn't valuable to everyone. All the dug up gold still exists and has been used to make things, BTW. Magnesium isn't so well dispersed like gold and silver and flaring entertainment doesn't have val-you know what? You're being a blithering joke just like ol' Karl and you know it and are obviously unashamed of it, too. Why even bother with that? Uggghhh . . . Anyway, who made who dictator? If "society" (really just people who went for it) found it valuable for so long than that's simply dictation of what they value. You aren't serious. You know damn well you don't consider magnesium to be valuable, seeing as you are an entitled punk if you seriously think that the system should be overrided to create a pipe nightmare to accomodate your demands whilst using extracted material technology to blast the very society that manufactured it. That being said, I don't think it would hurt to add magnesium or platinum to the gold/silver/bronze pecking order of value. Ironically, I should tell you, that I share that view of gold as ill gotten king pin wealth. Even Jefferson, Franklin, and Jackson thought debt-free fiat money would be a good thing. Hell, Lincoln did make the greenbacks. Bringing back the gold standard now is probably what the elites want now more than ever. After all, who has the gold? You know and everybody else should. Down with gold. Up with silver. If any of it should be. It's vast enough for everyone to get their hands on.

@karlthemarxist6806

10 жыл бұрын

NeverAloneForever But Diamonds are Forever. If one is hiking through a boggy terrain on a dark & gloomy night, flaring magnesium has infinitely more value than gold. Of course I'm joking. Me entitled? Seriously, I have been working as a self-employed shopkeeper for 7 days a week the past 10 years. But yes, adding more non-perishable metals or whatever as currency will decrease the chance of gold being the sole store of value, therefore monopolized by the Capitalist elites.

@NeverAloneForever

10 жыл бұрын

Karl TheMarxist Sorry. Try best not to mind it. Just reacting to your username. Thank you for your reply. As for the magnesium thing, I meant in it's status as a currency. So many more things we can light up. But obviously, you were ROFLOL. Anyway, I think you mean the monopolist elites. Referring to the Rothchilds, Rockefellers, and other world bankers as Capitalist is superfluous. It's like calling Stalin a Socialist. There's more to it than that. Well, you know. To Purgatory with Ron Paul. Listen to Bill Still . . . well, at least a lot more. To all the Libertarians out there, I say. Maybe you, too.

@karlthemarxist6806

10 жыл бұрын

NeverAloneForever No problems. It happens all the time. Capitalists is a broad term. If it wasn't the Rockerfellers, etc it would have been another name. It is not that this or that person has accumulated so much capital unfairly. It is the nature of Capitalism that eventually Capital will accumulate in fewer hands, fiat or gold etc. Couple that with influence over the State and that accumulation accelerates for obvious reasons, as stated in this video. Perhaps a "true" free-market society without a centralized State apparatus may avoid this lopsided accumulation but it is unlikely in my view. We can look back at the so-called "Wild West" for an example of "Anarcho-Capitalism" but society is very different of course from back then. Let's face it, who today believes that their word is their bond, or at least trusts others to hold that view? And all people should be armed for that system to work. Arms actually increase civility in society but people also have to have a more "considerate" view of others that is around today. The irony is that the ultra-individualism that Ayn Rand championed goes against any type of Anarchist. Libertarian, Communist society (See Council Communism). I am making a huge assumption here, but I believe that people back then were much more community minded, even though they were truly free to be individuals without a State tut-tutting and muzzling their free expression. It seems that is the key to a more fair society. Merry Christmas.

@TFrills

10 жыл бұрын

I think we should have a currency backed by gold bricks which are then backed by hash bricks and moonshine.

good watch, thx :)

I really like Peter Schiff, I will have to look up Niall. Thanks!

Bitcoin is a good business anyone can think of doing. I trust bitcoin.

@luarajennifer2008

2 жыл бұрын

Bitcoin is the best of all online investment.

@donaldmichelle5657

2 жыл бұрын

@@bettykimberly7579 Depite the economic crisis and pandemic situation of the world presently. I think this also the right time to invest in Bitcoin. Most especially with the current rise.

@luarajennifer2008

2 жыл бұрын

@@donaldmichelle5657 If you ask me, I think Bitcoin has something big in the future.

@luarajennifer2008

2 жыл бұрын

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@donaldmichelle5657

2 жыл бұрын

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Almost 30 years later, the trends from my college days remain just the same. The wild gyrations took place exactly as predicted in 2008 and 2021. However, I see no chance of abolishing the Fed or returning to the gold standard. The current system works way too well for the rich at the top 1% who benefit every time from getting the fresh money supplies ahead of the general population. Those at the top run the economy and they’ll keep the system humming for themselves.

Wow! Thanks for all the informed comments! So many don't understand the Federal Reserve. I have a question though. Treasury securities are sold to every type of investor; bank or Individual. When the Fed buys a security from a bank,it is exchanging an interest-bearing note for liquidity,which just sits there until it is lent. How does this funnel wealth to banks when they are giving up a treasury note with a higher interest than the federal funds rate? I need to understand this better. =)

@BorgCreations

2 жыл бұрын

It doesn't. The FED balance sheet is not connected to the real economy so their money cannot enter the monetary system. Except in case of lending to the government who can spend these loans on public expenses that infuse money into the system. The FED work mostly as a psychological tool for public perception of market psychology and trust. Especially when this fails in the market. Money is printed under the petrodollar/eurodollar regulatory standard by private banks when loans are issued.

Agreed! Whatever the best solution is,you and I agree that any REAL reform would put an end to fractional reserve banking. Sadly,no one is going to challenge this anytime soon. =( "The State literally issues a license to print money" The Fed doesn't really "print" money. It exchanges an interest bearing asset owned by a bank, for a bunch of dollars. The limits of gov borrowing is still largely set in the market. In Greece,the market doesn't trust them,so their borrowing costs are exorbitant.

My point was that adopting Mr Paul's ideas would not eliminate the need for a central bank, because the root of the problem is reserve lending,NOT what backs a currency. You can use gold and silver to exchange your goods now,no one is stopping you. There is no law against it. Go trade all your dollars in for gold coins,or silver certificates. The freedom is already there. Some communities in the US even print their own fiat notes. usatoday(.)com/money/economy/2009-04-05-scrip_N.htm

Part 4: The bill was reintroduced in the House by Ron Paul, and in the Senate by his son Rand Paul (R-KY), during the 112th United States Congress as H.R. 459 and S. 202. On July 25, 2012 the House bill was passed 327 to 98.[1][2] The Senate version of the bill, S. 202 is currently stuck in the United States Senate Committee on Banking, Housing, and Urban Affairs, as Chairman Tim Johnson (D-SD) is under orders from Senate majority leader Harry Reid (D-NV) not to let it out of Committee.

I understand the Federal Reserve System very well, but thank you for the reminders. =)

Another great movie is " A century of Slavery" by James Corbett.

Note when the video refers to the erosion of living standards over the last couple of decades, this video was made almost two decades ago. The erosion of living standards has now been going on for more than four decades, neatly and not incidentally corresponding to when Nixon removed the last vestiges of the gold standard.

@cbasallie Also, check out the Wikipedia entry for FRB. It has a table that shows how new money is created from an original reserve. The "glitch" i talk about comes from the way we keep track of dollars. When credit money is spent the store deposits the $ into their bank. Bank1 who lent the money accounts for loan money as deposit. Bank2 also counts the loan money as deposit. Banks can't track the original dollars, so they manage the money-multiplier inside of monetary policy. =)

i agree with most of those points. I merely stated the need. I agree primarily with Dr. Paul however. His plan to phase out the Fed and not dissovle them instantly is the best one. As competing currencies outdo the federal reserve note, watching them decline into complete irrelevance is a sweetness unrivaled by most things i could think of.

Part 2: It strikes exceptions to the audit protocol in 31 U.S.C. § 714 for the Federal Reserve System, the central bank of the United States, and replaces an indefinite deadline with a deadline of December 2010.[3] It also ensures the audit results are available to Congress.[4] The audit would include the Fed's "discount window", its funding facilities, its open market operations, and its agreements with foreign bankers.[5]