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Speaker 1: The following presentation Isndel Marvis Studio's production.

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Speaker 2: You're listening to the fact Hunter Radio Network. Here is

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your host, George Hubbs.

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Speaker 3: Welcome back truth seekers from around the world. It's time

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for another edition of the fact Hunter podcast. As we

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record on this Tuesday, made the twenty six, twenty twenty six.

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I hope everybody had a great weekend. We spent a

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lot of time with family and friends, remembering those who

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gave the ultimate sacrifice. I hope everybody is well rested

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and certainly in interesting times. Today we're not going to

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really talk about some current events. We're going to get

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right into it because there's so much to talk about.

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Today is part three of exposing the Matrix, and it's

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the financial aspect of it, which is again, you know,

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one of the biggest parts of the matrix and what

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we'll have a large part of the b system.

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Speaker 4: When it comes to play.

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Speaker 3: Now on the back end of this podcas cast and

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I know over the last six years, I've probably dropped

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this three or four times at least. G Edward Griffin's

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his lecture about the Creature from Jekyl Island. I think

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that runs an hour forty So this should be close

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to a three hour podcast. And I think that lecture

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was from the mid nineties, ninety four, ninety five, and

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you know, it's just as relevant today as it was

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when he initially gave it thirty years ago. And by

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the way, speaking of Jedward Griffin, I think he's closed.

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At this November, he'll be ninety five and you can

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still find I think he's still doing interviews on YouTube.

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Maybe we'll have to reach out to him. But a

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very important topic today the financial matrix, and we're just

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going to jump right into it today and again, this

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modern financial system that we live in today, that we

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are entangled in today, it was never designed to create

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true independence and that world, or I should say that

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word within this country is used on a daily basis.

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But the fact is that the modern financial system, and

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when I say modern, really post eighteen seventy one, and

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then you had those markers right nineteen thirteen, nineteen thirty three,

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nineteen seventy one, where the value of the dollar became

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less and less, the Federal Reserve in nineteen thirteen, nineteen

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thirty three, everybody turning their gold. We became a socialist

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financial system, and seventy one, seventy one or seventy two,

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we left the gold standard and it became the dollar

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is a debt note. Right, And every single year going forward,

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we work harder, we pay more, and we somehow continue

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to fall further behind, while the massive institutions themselves, well,

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they accumulate this unimaginable levels of wealth and control. And

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we've seen just over the last year how inflation really

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posts twenty twenty, right, how inflation has quietly just destroyed

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our purchasing power. You know, people will point to, well,

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look minimum wage. You can get a job at dunkin

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Donuts for eighteen dollars. That is a horrible sign of inflation. Okay,

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Back in the fifties, pop could work and mom could

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stay home and take care of the kids, and they

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could pay out of the bills and still have money

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to go on vacation and put money aside for college.

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The reason we're in the situation we are today is

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because we became off the you know, we came off

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the gold standard, and we became a debt based economy,

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and this hyperinflation is just destroying us. Right, we make more,

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like I can guarantee most of your paycheck are bigger

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than you've ever seen before. But the actual liquidity you

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have by the time you pay all your bills. And

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my goodness, I was talking to my cousin this weekend.

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Her electric bills five six hundred dollars a month.

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Speaker 4: Now that they come up with.

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Speaker 3: All of these delivery fees and all this other nonsense

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to continue keeping you down and working harder and not

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being able to spend time with yourself and your family,

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and in the good book, in these type of things. Now,

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the central banks, which again, even if you haven't you've

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listened to G. Edward Griffin's lecture a few times. It's

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always good back. It's always great to go back and

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listen to. And if you've never heard it, you're really

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in for a treat because he talks about how these

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banking elites got together on Jackie Little Island off the

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coast of Georgia and formulated what became an independent private

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bank that control the United States. And you know, there

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are some things that people in this country don't understand,

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and our monetary system.

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Speaker 4: Is one of them.

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Speaker 3: The Central Bank is one of them. And I could

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go on and on and on. That's why it's important

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when you have this information. If you're at a party,

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a family get together. I know it's uncomfortable to be

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that guy to bring this stuff up, but we have

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to educate these people.

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Speaker 4: They have to be wakened up.

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Speaker 3: Central banks create money from nothing. Right, If you or

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I do that, that's called counterfeit and you go to jail.

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Speaker 4: But they can do it.

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Speaker 3: And you know, ordinary people trade away decades of our

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lives to survive in the system that you and I

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never agreed to. It was forced upon us, right, Woodrow

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Wilson sold us out, FDR sold us out, Nixon sold

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us out, the Federal Reserve, the IMF, the World Bank.

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And look at these private entities that are buying everything

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up Blackrock, Vanguard, State Street.

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Speaker 4: These aren't friend names. These are real.

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Speaker 3: Institutions with enormous influence over governments, corporations, housing markets, media companies,

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pharmaceutical giants, defense contractors, and the food supply itself. And

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when you start to see this conglomerate, the small amount

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of mega corporations that are controlling everything, you understand that, hey,

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maybe the beast system isn't too far off.

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Speaker 4: I mean, think of this.

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Speaker 3: A handful of asset management firms now hold major ownership

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stakes across thousands of companies worldwide, creating a level of

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centralized financial influence that is unprecedented in our history. And

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the result is a system where competition becomes illusion right,

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because they're all owned, even the competitors at the top

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of the food chain. The largest shareholders are the same folks,

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and elections are farce right now, while politicians argue on

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television about left versus right, and even more sad the

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people are fellow Americans are more concerned about the people

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in Washington, d c. Than what is really going on

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with the matrix. You have trillions of dollars printed out

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of thin air. Our currency is losing value by the day.

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And now it's become evident that housing, you know, the

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most basic necessity, has become unattainable for so many people.

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You have small businesses collapsing while mega corporations grow larger

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during every crisis, and now they're pushing a Bola antavirus

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one thing after another. The average person is pushed toward

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permanent financial servitude.

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Speaker 4: Right.

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Speaker 3: There's other words you could substant for that, but we're

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going to use servitude. Mortgagees, credit cards, student loans. By

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the time some of these young adults are twenty two.

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They're stepping out into the world already one hundred k

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in debt, medical debt, subscriptions, digital banking, on and on

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and on. Now, the system itself survives because most people

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are too exhausted to question it. They're working too hard

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to question it. They're trapped inside cycles of survival, distraction, entertainment, fear.

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Because after a long week, you put in fifty sixty

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hours to pay the bills and feed your family. Most

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people would rather put their feed up, drink a cold beverage,

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and watch football. But here's the thing. Once you begin

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tracing money, the connections become impossible to ignore. Wars create profit,

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and it also serves to that first note on the

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Georgia Guidestone, right keeping humanity at five hundred million in

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perpetual balance of humanity. Now, well, my wife, you know,

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she's there with me with all these lies around. You know,

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one of her biggest things is she's like, there's no

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way there's eight billion people on this earth. Now, she's

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never given me a hard number, but that's something that

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she's every time you hear someone say eight billion.

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Speaker 4: People, she laughs at it. Again.

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Speaker 3: Once you begin tracing the money.

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Speaker 4: Everything.

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Speaker 3: The wars create profit, inflation creates dependency. But then they

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intentionally do these crashes, whether it's two thousand and eight,

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whether it's COVID, and they do all that to consolidate

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more power. And then every solution somehow gives more power

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to the very institutions that help create the problem in

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the first place. Now, again, the central banking is the

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engine room of the financial matrix. And I'll ask you this,

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the listener, what percentage of the average person in this

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country understands a our monetary system and b what the

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central bank actually is that it is not really a

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part of our government, that it hasn't been audited in

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fifty years. And you know, Trump will say things like,

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how about the gold in Fort Knox, Well, how about

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you get your behind down there in inventory, although we'd

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get a false figure. Why don't we, the shareholders of

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this country, hold these people accountable. Most people think money

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begins with labor, production, savings or honest exchange. But in

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today's modern system, money begins with the debt. The second

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that dollar is printed, its debt. That is the part

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that these schools, you know, these children spend thirteen years

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in school and they have no idea how our monetary

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system works. Central banks sit above your commercial bank, whether

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it's M and T, Wilmington, Trust, WSFS, Capital One, you

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name it, right above the ordinary barrower, above the small

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business owner, in many ways, above the politician. They don't

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have to campaign for your vote. They don't have to

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knock on your door. They don't have to explain themselves

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when the Federal Reserve raises interest rates or lowers them,

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or expands the money supply, buys assets, rescues banks. That's

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a farce in itself. They're not rescuing a bank, they're consolidating.

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The consequences ripple through the entire country. Credit gets easier

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or tighter, housing prices rise or crash, and we've seen

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both with them just a couple of years. Savings are

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punished or rewarded. Back growing up, I remember when savings

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the interest for savings accounts were outstanding. Now it's not

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even one percent, is it?

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Speaker 5: Is?

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Speaker 3: It like half a percent? That's why most people why

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bother that with savings account just sits there. What they

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really want you to do is invest in Wall Street

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and hold on to your money there, because again, when

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you put your money in the bank, whether it's checking

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or savings, they only have to hold on to ten

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percent of your deposit. So for every one hundred dollars

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you put in the bank, So if you got paid

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today and you got three thousand dollars paycheck, they only

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have to hold on to three hundred dollars. The other

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twenty seven hundred dollars goes to paying their employees, the

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electric bill, advertising, using that to loan out to other

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people for mortgages and credit cards at you know, anywhere

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between seven if you're talking about a mortgage, and upwards

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of twenty five for credit cards. And it's the system

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of it's truly a parasitic system that again, you know.

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Speaker 1: That.

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Speaker 3: I think there's a lot of people who are they

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call themselves Christians, and I'm not saying they're not, but

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they have no idea what the Bible says about usury.

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They have no idea about the people who's within the Israel,

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the borders of Israel, most people.

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Speaker 4: And it's just shocked me over the last year.

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Speaker 3: When I go up to somebody, especially people who are

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over sixty sixty five years old, they'll come up to

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me and they'll say.

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Speaker 4: Why why do so many people don't like Israel?

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Speaker 3: And then you have a conversation with them. Most people,

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the average person has no clue, and this is true.

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Most the average person has no clue that Jewish people

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do not believe that Jesus Christ is the Messiah or

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where they think he is. It's they think they're just

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like us. They have no idea. And it's the same

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when it comes to the monetary system, when it comes

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to the central.

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Speaker 4: Bank and all of these things.

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Speaker 3: The Federal is not some harmless bookkeeping office that is

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looking for everyone's best interest. It's the central nervous system

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of American finance again graded nineteen thirteen, and from that

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moment forward, the United States moved much deeper into a

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managed money system where the value of currency could be

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manipulated to benefit the powers that be. Not we right,

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The American people were sold this idea that central banking

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would bring stability, prevent panics, and protect the economy. But

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if you notice the timing of it, if we didn't

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and maybe you guys, there's somebody out there smarter than me.

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But I always beg the question that if we did

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not have a central bank, we would not have had all.

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Speaker 4: Of these wars.

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Speaker 3: And the reason that we had World War one, World

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War two, Korea, Vietnam, and then you know we've been

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in the Middle East for the last thirty five years,

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really kicking off in ninety one, is because we have

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this open checkbook and we can write a check to

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the military industrial complex for trillions of dollars, endless debt,

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repeated crashes, bank bailouts. And today here we are in

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twenty twenty six. You know, the monetary system has broke

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more than ever. We were talking this weekend. Gas was,

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you know, to seventy five just a little bit ago,

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then it jumped up to four fifty. Now it's back

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down to about four fifteen, four to twenty. And that's

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here in Delaware. I've heard reports California, Alaska, and Hawaii

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between eight and ten dollars. And you have a government

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that spends money it doesn't have. And again, if it's

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you or I, we declare bankruptcy, were held accountable for

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seven to ten years. You can't do this, can't do

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that while you have a government that has no fiscal

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responsibility whatsoever. Once again rules for thee but not for me.

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And that dollar has lost honestly a majority of its

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purchasing power. A government that spends money it doesn't have that.

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Fiat simply means money by decree. It has value because

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the government says it has value, because the banks.

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Speaker 4: Accept it, because.

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Speaker 3: Taxes are demanded in it, and because the public has

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been trained to trust it. But fiat money is not

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honest money in the old sense. It's not tied to

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gold or silver or any real restraint that prevents the

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ruling class from creating more of it when it's convenient.

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And again, once money becomes purely paper, and now most

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digital entries are on a screen, the temptation to inflate

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becomes irresistible. Governments can compromise, and they can promise more

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than they can afford. And you know, you tie them

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in with the five ozho one c threes.

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Speaker 4: You saw what they.

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Speaker 3: Did with Massy, a nonprofit that has no business existing

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in the United States, through thirty some million dollars. And

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I'll save that for another time, because I could talk

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for an hour about how some people are so blind.

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But you know, when you talk about fiat currency, that's

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the genius of it, all right, that's the genius of it.

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From the perspective of the quote unquote ruling class. It

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allows theft without the appearance of theft. It turns inflation

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into a hidden tax. If the government raised your taxes

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by twenty percent overnight, people would revolt. However, if groceries, well,

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I say that, you know, we've become absolute pushovers.

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Speaker 4: That's the truth.

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Speaker 3: I don't know if we'll ever see a revolt again

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in our lifetime, we'll say. But groceries rent, fuel, insurance,

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and utilities. They climb year after year while the dollar

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quietly weakens. The public blames the grocery store, the landlord,

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the gas station. But the fact is all of those

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prices are affecting them as well. They say, you know, well,

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I guess I need to work more. I need a

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second job. Maybe I should put it on a credit card.

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That is exactly how the system keeps people running on

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the proverbial treadmill. Fiat currency doesn't merely change prices.

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Speaker 4: It changes behavior.

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Speaker 3: It forces dependency, It discourages savings, and it rewards debtors

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close to the source of new money and punishes workers

296
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who receive the money last after prices have already been adjusted.

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And then your text and everything else.

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Speaker 4: That goes on top of it.

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Speaker 3: So you know, this is really where central banking and

300
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currency becomes one machine. The central bank controls the cost

301
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of the money, the banking system creates the credit, and

302
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the government creates endless obligations, most often with their buddies

303
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and their pals, and they know the futures and where

304
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to put their money in the stock market. And what

305
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do we do? We absorb the consequences when new money

306
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enter new money enters the economy, it doesn't reach everyone equally.

307
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It flows first through the banks, then the government contractors,

308
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then the asset managers, the financial institutions, and politically connected corporations.

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And by the time that money reaches ordinary families like

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you and I, prices have already moved. The wealthy see

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their assets rise, the stocks rise, the real estate rises,

312
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the corporate values rise. Meanwhile the working class these milk, eggs, meat,

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rent fuel, all of that, insurance climb higher.

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Speaker 4: If you don't have.

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Speaker 3: Insurance, well you can't drive your car, Well you can't

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own your house. And you know you have your experts

317
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on TV explain it with charts and academic language that

318
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you just wouldn't understand. You're just gonna have to trust

319
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us and roll with the punches, right, and they claim that,

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you know, the people being crusted are just too stupid

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to understand what's happening to them.

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Speaker 4: And that's what they do it.

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Speaker 3: And that's why all of the you know, you have

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to point to these folks who are holding as hostage.

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And let's start with the Federal Reserve, the Bank of

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International Settlements in Switzerland, the IMF, the World Bank, Wall Street, Blackrock, Vanguard,

327
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State Street, JP, Morgan Chase, Goldman, Sachs, Morgan, Stanley, Bank

328
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of America. They sit inside this bloodstream of the modern economy.

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They influence capital policy, markets, debt development, and when they

330
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get in trouble, they are bailed out. When we get

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in trouble, sucks to be you. And that's the truth.

332
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And again, the biggest thing with fiat currency is it.

333
00:21:26,319 --> 00:21:28,319
Speaker 4: Makes war possible.

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Speaker 3: Before modern fiat systems, wars had to be funded more

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directly through taxation, borrowing under much stricter limits real resources.

336
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But once a nation and this is so so important

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that gets overlooked, once a nation can create money, expand credit,

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issue debt, and push the cost into the future through inflation,

339
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war becomes easier to sell. The public doesn't feel the

340
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full cost immediately. They feel it later through debthigher prices,

341
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lower purchasing power, and a weaker currency. Defense contractors get

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paid now, the banks collect interest now. So and we

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see the same pattern appear in every crisis. You have

344
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a crash, the public panics, the experts, who are all

345
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part of the ruling class, step forward. The government announces

346
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emergency action. There are no bid contracts. The central bank

347
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injects liquidity. Large institutions are protected. Small businesses and working

348
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families are told to suck it up for the good

349
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of the system. And when the dust settles, the largest

350
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players are even larger, and you and I are left

351
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out to dry.

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Speaker 4: Wealth in this.

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Speaker 3: Country is transferred upward. These assets have consolidated to the

354
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likes we've never seen before and again, and one of

355
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the most the whole reason that the folks agreed to

356
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have this central government was to keep monopolies from happening.

357
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To see what's happening right now, whether it be Amazon

358
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or again Vanguard, State Street, black Rock. But we have

359
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become such a convenience based country we are willing to

360
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overlook a monopoly to be able to order a guitar

361
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pick and have it delivered at our front step the

362
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next day between four and eight am. Like Legitimately, people

363
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are more concerned about their comfort than watching all these

364
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small businesses get crushed and be.

365
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Speaker 4: Deemed non essential. I think we've.

366
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Speaker 3: Clearly explained the Fiat currency, the central banks, but when

367
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you talk about the financial matrix, just not talking about

368
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normal economics. Everybody who's taken, you know, a business class,

369
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whether it be macroeconomics or business one oh one, you

370
00:24:08,640 --> 00:24:12,480
name it, you know that you understand that we're talking

371
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about a system that creates money from debt and it

372
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weakens currency through inflation. And inflation is the real silent theft.

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It's you know, the people who are sitting closest to

374
00:24:26,079 --> 00:24:28,799
the money spigot are not suffering under the system.

375
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Speaker 4: They're feeding from it.

376
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Speaker 3: And they hidden taxation. Right whether it's I don't smoke,

377
00:24:35,839 --> 00:24:39,880
but whether it's cigarettes, gas, there's a lot of products

378
00:24:39,920 --> 00:24:41,920
out there that people don't even know that are taxed.

379
00:24:42,599 --> 00:24:47,720
And that hidden taxation through inflation allows governments to avoid

380
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political backlash that direct taxation would create. So listen, if

381
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Congress openly announced a massive new tax increase to finance

382
00:24:57,880 --> 00:25:04,319
endless wars, corporate bailout, foreign aid packages, and bloated bureaucracy.

383
00:25:05,519 --> 00:25:08,359
Speaker 4: That would be outrage right, but.

384
00:25:09,079 --> 00:25:15,960
Speaker 3: Inflation spreads the cost invisibly across the entire population, just

385
00:25:16,119 --> 00:25:20,160
under the point of people losing it, and you know,

386
00:25:20,240 --> 00:25:27,200
providing real political backlash, right, and especially the over sixty

387
00:25:27,200 --> 00:25:31,839
folks who for some reason, people are okay with paying

388
00:25:31,880 --> 00:25:34,799
property taxes, even to folks who have paid their house off.

389
00:25:35,359 --> 00:25:38,799
And again we've gone over this before. We just say, okay,

390
00:25:39,799 --> 00:25:43,119
I guess God gave the government our land, and then

391
00:25:43,160 --> 00:25:46,559
we're just running it from the government. It's just such

392
00:25:46,559 --> 00:25:52,319
a farce. And if there's one thing I learned over

393
00:25:52,359 --> 00:25:56,240
the last week or two is that the job of

394
00:25:56,559 --> 00:26:00,640
deprogramming people is so much bigger than I ever thought.

395
00:26:01,839 --> 00:26:05,279
And part of that problem is, number one, the education

396
00:26:05,400 --> 00:26:08,799
system that has now become educate to the.

397
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Speaker 4: Right.

398
00:26:11,200 --> 00:26:15,279
Speaker 3: They don't want that gifted and talented program. They don't

399
00:26:15,319 --> 00:26:19,000
want they make it so basic. And it's not just

400
00:26:19,079 --> 00:26:22,759
me saying that, I have you made the State of

401
00:26:22,759 --> 00:26:29,200
Delaware releases, you know, our schools reports and so many

402
00:26:30,240 --> 00:26:33,680
like if your school's at thirty percent at the grade level,

403
00:26:34,000 --> 00:26:38,960
it's astounding. You never see anybody above fifty anymore. We

404
00:26:39,039 --> 00:26:41,799
have failed the children. You have those children in school

405
00:26:41,839 --> 00:26:43,680
for six seven hours a day, one hundred and eighty

406
00:26:43,720 --> 00:26:46,759
five days a year, and they can't read a.

407
00:26:46,720 --> 00:26:47,640
Speaker 4: Tenth grade level.

408
00:26:48,599 --> 00:26:58,880
Speaker 3: Come on now, consumer debt, that's a big one. Credit cards,

409
00:26:58,920 --> 00:27:03,200
auto loans, student life, personal loans by now pay later,

410
00:27:03,319 --> 00:27:10,680
thirty year mortgages have exponentially transformed millions of people into

411
00:27:10,720 --> 00:27:15,440
financial tenants inside their own lives. Entire generations have been

412
00:27:15,519 --> 00:27:19,720
conditioned to believe debt is normal, necessary, and unavoidable.

413
00:27:20,440 --> 00:27:20,920
Speaker 4: Listen to this.

414
00:27:21,000 --> 00:27:25,279
Speaker 3: A teenager graduates high school and is immediately encouraged to

415
00:27:25,319 --> 00:27:29,200
borrow tens of thousands of dollars before ever entering the workforce.

416
00:27:30,640 --> 00:27:33,920
You have young couples beginning marriage under the mountains of debt.

417
00:27:34,400 --> 00:27:36,200
And I think part of that. The more I've been

418
00:27:36,240 --> 00:27:38,599
thinking of how low the birthrate has become in twenty

419
00:27:38,640 --> 00:27:42,079
twenty six, a lot of these younger folks are so

420
00:27:42,200 --> 00:27:46,599
in debt they're afraid they can't afford a child, which

421
00:27:46,680 --> 00:27:51,680
obviously formula diapers, and I'm not encouraging formula obviously, but

422
00:27:51,720 --> 00:27:56,359
I'm saying all of those things add up, right, And

423
00:27:56,519 --> 00:27:59,839
you know, once you start bleeding. Then it's credit cards,

424
00:28:00,119 --> 00:28:04,640
loans and payday loans. And I'll tell you the psychological

425
00:28:04,680 --> 00:28:08,000
side of consumer debt is just as important as the

426
00:28:08,000 --> 00:28:11,039
financial side. I remember being a young man, I got married,

427
00:28:11,079 --> 00:28:13,559
young children young. You know, by the time I was

428
00:28:13,599 --> 00:28:17,480
twenty one, I had been to combat and had two children.

429
00:28:18,119 --> 00:28:22,440
Speaker 4: And I'm here to tell you debt.

430
00:28:22,599 --> 00:28:27,079
Speaker 3: Changes behavior when you're behind, when your phone is ringing

431
00:28:27,079 --> 00:28:31,279
and the bill collectors are calling you. It affects your marriage,

432
00:28:31,519 --> 00:28:34,519
it affects you being a parent, and you even lose

433
00:28:34,599 --> 00:28:38,519
focus as a Christian because you start to blame God.

434
00:28:38,599 --> 00:28:41,039
And people say, well, if there was a God, why

435
00:28:41,079 --> 00:28:44,319
would he allow me to fall into debt? And we're

436
00:28:44,359 --> 00:28:47,000
bad at that as Christians. When things are going really well,

437
00:28:47,039 --> 00:28:49,359
we like to pat ourselves in the back and say, look,

438
00:28:49,799 --> 00:28:52,039
I got the job promotion, you hit the home run

439
00:28:52,079 --> 00:28:54,039
at the church softball league to win the game. You

440
00:28:54,079 --> 00:28:57,519
pat yourself on the back. But when things start going bad,

441
00:28:57,559 --> 00:29:00,319
we tend to look up and blame God. There is

442
00:29:00,359 --> 00:29:04,640
a real psychological burden that comes with debt.

443
00:29:04,759 --> 00:29:05,039
Speaker 4: You know.

444
00:29:05,480 --> 00:29:10,119
Speaker 3: People afraid of missing payments are less likely to challenge authority.

445
00:29:10,920 --> 00:29:15,519
They're less likely to take risks in life to speak openly,

446
00:29:16,640 --> 00:29:19,039
and this is the one that people don't even think about.

447
00:29:19,400 --> 00:29:22,799
There is a such thing as abusive work environments. There

448
00:29:22,839 --> 00:29:26,319
are some, seriously, I can tell you over the last

449
00:29:26,720 --> 00:29:29,279
forty years. I started working when I was twelve or thirteen.

450
00:29:30,519 --> 00:29:34,039
Life was different back then. Saturday mornings, I would go

451
00:29:34,079 --> 00:29:36,000
to the it was called the buffet shop, and it

452
00:29:36,039 --> 00:29:38,759
was catering business. I'd be there at five am, opening

453
00:29:38,839 --> 00:29:41,440
up cans of beans. They were catering business, and filling

454
00:29:41,480 --> 00:29:44,279
that up and loading up the truck, putting the Sterno's

455
00:29:44,319 --> 00:29:46,559
in there. And then we'd be washing all the dishes

456
00:29:46,559 --> 00:29:49,960
from all the food being cooked. And I'm telling you,

457
00:29:50,039 --> 00:29:53,000
I'm not saying that one was. But I can think

458
00:29:53,039 --> 00:29:57,359
of all the toxic places where I had to work

459
00:29:57,759 --> 00:30:01,720
because I had to pay the b I was in debt,

460
00:30:02,160 --> 00:30:04,839
even part time jobs, right I had. At one point

461
00:30:04,839 --> 00:30:07,519
I was working two full time jobs before I joined

462
00:30:07,559 --> 00:30:14,480
the army. Debt creates obedience, and someone who is drowning

463
00:30:14,480 --> 00:30:19,319
and obligations can't easily walk away from the machine because

464
00:30:19,359 --> 00:30:24,400
the machine or that system owns his future earnings before

465
00:30:24,440 --> 00:30:29,720
he ever even receives them. That's why modern society constantly

466
00:30:29,759 --> 00:30:36,000
pushes consumption over ownership. They push borrowing over savings. You

467
00:30:36,079 --> 00:30:39,359
hear loan commercials, credit card commercials, right capital ie h,

468
00:30:39,640 --> 00:30:41,519
funny commercials, right credit cards?

469
00:30:41,559 --> 00:30:43,480
Speaker 4: Discover? How often do you.

470
00:30:43,519 --> 00:30:50,519
Speaker 3: See savings commercials? How often do you see healthy commercials? Hey, dandy,

471
00:30:50,599 --> 00:30:54,839
lionte this and that. No, it's pharmaceutical commercials. It's the

472
00:30:54,880 --> 00:30:58,079
matrix we live in. We have to break the matrix,

473
00:30:58,200 --> 00:31:00,799
even the credit score system itself.

474
00:31:00,880 --> 00:31:03,880
Speaker 4: Let me ask you this. Have I know we.

475
00:31:03,880 --> 00:31:07,759
Speaker 3: Have a bastion of free thinkers out there in our community.

476
00:31:08,759 --> 00:31:13,839
Why don't we have a credit system for the banks

477
00:31:15,400 --> 00:31:17,799
if their debt to income ratio.

478
00:31:20,640 --> 00:31:23,599
Speaker 4: Is bad? Why aren't they public?

479
00:31:23,759 --> 00:31:24,039
Speaker 3: Why?

480
00:31:25,400 --> 00:31:27,079
Speaker 4: Maybe I want to go open account at.

481
00:31:26,960 --> 00:31:33,200
Speaker 3: Dover Federal, Dover Federal Credit Union or USAA. Is there

482
00:31:33,319 --> 00:31:35,039
some type of credit score?

483
00:31:35,599 --> 00:31:35,720
Speaker 1: Now?

484
00:31:35,759 --> 00:31:39,400
Speaker 3: I know there's different things out there that independent companies.

485
00:31:38,960 --> 00:31:39,960
Speaker 4: That rate the banks.

486
00:31:41,000 --> 00:31:44,720
Speaker 3: But if I'm told my credit score every day, I

487
00:31:44,759 --> 00:31:47,440
know what it is. Why can't I just go to

488
00:31:47,480 --> 00:31:51,680
a public forum and see exactly, you know, how much

489
00:31:51,720 --> 00:31:53,839
money they have, what their debt is, how much their

490
00:31:53,880 --> 00:31:56,440
CEO makes. And I know some of those things are available,

491
00:31:56,680 --> 00:32:02,519
but why aren't they more commonly available, why are they allowed?

492
00:32:02,880 --> 00:32:06,799
Like if I went to a bank for a mortgage

493
00:32:06,839 --> 00:32:08,799
and they said, well, we can't give mortgages right now

494
00:32:08,799 --> 00:32:13,039
because we're in trouble and we have too much debt. Right,

495
00:32:13,119 --> 00:32:15,440
we don't find out banks are in trouble until it's

496
00:32:15,440 --> 00:32:16,119
already too late.

497
00:32:16,279 --> 00:32:18,480
Speaker 4: Right, it'll come on the news.

498
00:32:18,880 --> 00:32:24,400
Speaker 3: Mountain West Federal Credit Union has collapsed. Rights, we're told

499
00:32:24,519 --> 00:32:29,440
after the fact. And that is something that is always

500
00:32:29,599 --> 00:32:31,799
again rules for thee but not for me. And when

501
00:32:31,799 --> 00:32:35,720
they do go bad, either a a conglomerate sucks them

502
00:32:35,799 --> 00:32:37,519
up for pennies on the dollar.

503
00:32:39,519 --> 00:32:40,599
Speaker 4: Or somebody bails them.

504
00:32:40,480 --> 00:32:44,599
Speaker 3: Out, not us, right, But think about a three digit

505
00:32:44,720 --> 00:32:50,119
number becomes a measure of economic worthiness. Entire lives are

506
00:32:50,200 --> 00:32:55,799
filtered through algorithms designed by financial institutions that profit from

507
00:32:55,880 --> 00:32:59,359
debt dependency. And you know what the irony is The

508
00:32:59,400 --> 00:33:04,400
system awards those who continuously borrow and maintain debt.

509
00:33:04,440 --> 00:33:05,640
Speaker 4: I remember one time I was.

510
00:33:05,599 --> 00:33:10,440
Speaker 3: Like, why, you know, why is my credit score this?

511
00:33:10,839 --> 00:33:14,720
I don't have any debt and everything's paid off, and

512
00:33:14,759 --> 00:33:18,440
they're like, well, you need to use your credit card

513
00:33:18,519 --> 00:33:21,960
once a month, And I'm like that makes no sense

514
00:33:22,039 --> 00:33:30,640
at all, Right, it's it's insane. This system rewards those

515
00:33:30,640 --> 00:33:36,599
who continuously borrow and maintain debt while punishing those who

516
00:33:36,680 --> 00:33:40,480
avoid credit altogether. And I know all of you who

517
00:33:40,519 --> 00:33:43,799
live in rural communities like I do. Cash is king

518
00:33:43,880 --> 00:33:49,319
here very rarely. At our little corner gas station will

519
00:33:49,359 --> 00:33:51,880
you see people swiping a credit card. Will go in

520
00:33:51,960 --> 00:33:54,279
hand them a twenty or forty or if it's the

521
00:33:54,319 --> 00:33:56,519
f one fifty at this I'm handing them one hundred

522
00:33:56,559 --> 00:33:58,839
now in hope and I get cash back. I got

523
00:33:58,839 --> 00:34:05,519
a thirty six gallon ten. You don't see people swiping nobody.

524
00:34:05,799 --> 00:34:07,480
We don't want to be in debt. That's the reason

525
00:34:07,519 --> 00:34:09,519
we move out to the rural area. We don't want

526
00:34:09,519 --> 00:34:12,119
to be a part of this system like that. Just

527
00:34:12,159 --> 00:34:17,119
don't and that credit card system, pardon me, credit score system.

528
00:34:17,840 --> 00:34:22,480
It trains the public into behavioral conformity, just like the

529
00:34:22,480 --> 00:34:23,039
school bell.

530
00:34:23,079 --> 00:34:23,639
Speaker 4: Think about it.

531
00:34:24,079 --> 00:34:28,519
Speaker 3: Pay on time, maintain revolving debt, don't disrupt the system,

532
00:34:28,920 --> 00:34:36,079
Remain financially traceable, build a documented history of dependence on

533
00:34:36,239 --> 00:34:38,039
institutional credit.

534
00:34:38,960 --> 00:34:39,159
Speaker 4: Right.

535
00:34:39,920 --> 00:34:44,880
Speaker 3: Many of these scoring mechanisms can eventually expand far beyond

536
00:34:45,559 --> 00:34:49,760
lending into full spectrum behavioral monitoring.

537
00:34:49,800 --> 00:34:50,239
Speaker 4: That's right.

538
00:34:50,679 --> 00:34:53,079
Speaker 3: You know what I'm talking about, and it's not science

539
00:34:53,079 --> 00:34:57,880
fiction anymore. Around the world, governments and corporations are increasingly

540
00:34:57,920 --> 00:35:04,280
discussing programmable money, digital identity systems, and ESG compliance standards.

541
00:35:04,280 --> 00:35:09,079
We've been talking about for years, and as we say, right,

542
00:35:09,159 --> 00:35:11,360
they had to have all these systems in place to

543
00:35:11,400 --> 00:35:13,960
be able to pull off COVID with Zoom and everything else.

544
00:35:15,119 --> 00:35:16,880
Speaker 4: Well, now that they have this AI.

545
00:35:16,800 --> 00:35:25,320
Speaker 3: Driven financial monitoring and integrated economic tracking. Once every transaction

546
00:35:25,679 --> 00:35:30,039
becomes digital, the people who run the show will gain

547
00:35:30,199 --> 00:35:35,480
an unprecedented visibility into human behavior, what you buy, where

548
00:35:35,480 --> 00:35:40,119
you travel. Even now the local dump, we don't pay

549
00:35:40,159 --> 00:35:41,880
two hundred bucks a quarter for some guy to come

550
00:35:41,880 --> 00:35:43,960
by and take our trash. I've got six big trash

551
00:35:44,039 --> 00:35:47,039
cans and when they're full, I load them in the

552
00:35:47,079 --> 00:35:48,719
truck and I go down to the dump and I

553
00:35:48,760 --> 00:35:51,159
pay seven dollars and fifty cents to dump my trash.

554
00:35:51,679 --> 00:35:55,599
Now every two or three weeks, I worked hard for

555
00:35:55,719 --> 00:35:56,360
my money.

556
00:35:56,639 --> 00:35:57,000
Speaker 4: I am.

557
00:35:58,280 --> 00:36:01,400
Speaker 3: I'm not a convenience guy. I don't care what people

558
00:36:01,480 --> 00:36:03,360
think of me. I take my own trash to the

559
00:36:03,440 --> 00:36:06,840
dump and when I you know, it's one hundred and

560
00:36:06,880 --> 00:36:09,400
ninety some dollars a quarter to have our trash picked up.

561
00:36:09,960 --> 00:36:13,119
And I probably go, say six times, so I pay forty.

562
00:36:12,880 --> 00:36:16,360
Speaker 4: Two dollars to go to the dump.

563
00:36:17,440 --> 00:36:21,239
Speaker 3: It's one hundred and fifty bucks in my pocket. But

564
00:36:21,519 --> 00:36:24,079
starting June first, guess what when you go to the dump,

565
00:36:24,119 --> 00:36:24,280
you know.

566
00:36:24,280 --> 00:36:24,840
Speaker 4: What you have to do?

567
00:36:25,880 --> 00:36:32,159
Speaker 3: Got to show your ID. It's a joke, it's you know.

568
00:36:32,400 --> 00:36:37,159
You combine that with inflation, debt dependency, and a centralized

569
00:36:37,199 --> 00:36:42,480
digital banking system, it's not an economic system anymore. It's

570
00:36:42,519 --> 00:36:49,480
social control. And then digital currency. Let's talk about that.

571
00:36:49,480 --> 00:36:51,559
That that's going to be the final nail in the

572
00:36:51,559 --> 00:36:58,920
beast system. And for decades, probably seventies eighties when it

573
00:36:58,960 --> 00:37:03,519
really started. I think seventies is when credit cards really

574
00:37:03,559 --> 00:37:04,960
started to go into motion.

575
00:37:06,199 --> 00:37:07,079
Speaker 4: Post World War Two.

576
00:37:07,079 --> 00:37:11,039
Speaker 3: In the fifties some places would offer credit, but my

577
00:37:11,159 --> 00:37:15,880
goodness that they have and COVID remember that played a

578
00:37:15,920 --> 00:37:17,800
part of it. We can't take cash because it has

579
00:37:17,880 --> 00:37:21,559
germs on it. Remember so much had to do with COVID. Boy,

580
00:37:21,639 --> 00:37:25,679
we swung and missed on that one. But now debit

581
00:37:25,880 --> 00:37:30,159
cards replace cash. It's the same as cash, and not

582
00:37:30,320 --> 00:37:33,719
really smartphones replaced wallets. How many of you use your

583
00:37:33,760 --> 00:37:40,280
smartphone for purchase. Online banking has replaced the local branches USAA.

584
00:37:40,840 --> 00:37:43,159
They have hardly any I think they have some in Texas.

585
00:37:43,199 --> 00:37:49,480
We had one in Colleen, but I can't tell you. Well,

586
00:37:49,519 --> 00:37:51,599
I ken, but I can't tell you the last time

587
00:37:51,639 --> 00:37:54,960
I went into a bank to do a full transaction,

588
00:37:55,159 --> 00:37:57,920
like to cash a check or something like that. Now

589
00:37:57,920 --> 00:37:59,920
you take a picture of your check and it's to pause.

590
00:38:01,760 --> 00:38:03,400
But you got to watch it. The central banks are

591
00:38:03,440 --> 00:38:07,400
really pushing the central bank digital currency, and once that

592
00:38:07,559 --> 00:38:13,679
is in place again, every transaction will be tracked, restricted, approved,

593
00:38:13,880 --> 00:38:17,440
denied in real time. And listen, Christians, that's where you've

594
00:38:17,440 --> 00:38:20,960
got to begin connecting the discussion of Biblical warnings found

595
00:38:20,960 --> 00:38:24,159
in the Book of Revelation concerning the b system, a

596
00:38:24,199 --> 00:38:27,880
future economic order in which buying and selling became tied

597
00:38:27,920 --> 00:38:32,199
to centralized authority and compliance. Whether one believes the final

598
00:38:32,239 --> 00:38:37,199
system arrives suddenly or develops gradually over time, the direction

599
00:38:37,480 --> 00:38:42,599
is impossible to ignore. A programmable digital currency could theoretically

600
00:38:42,639 --> 00:38:48,079
allow governments or financial institutions to freeze accounts, to limit purchases,

601
00:38:48,400 --> 00:38:54,920
to block donations, to restrict travel, to penalize dissent, and

602
00:38:54,960 --> 00:38:56,960
then of course you're going to have consumption quotas right,

603
00:38:57,000 --> 00:39:03,400
your carbon tax, your carbon credits, reward approved behavior. You'll

604
00:39:03,440 --> 00:39:07,519
go grocery shopping and it'll say declined and there'll be

605
00:39:07,559 --> 00:39:12,159
a code. The credit card system have had codes, decline

606
00:39:12,199 --> 00:39:17,400
codes for years. I used to work for Chase Manhattan

607
00:39:17,400 --> 00:39:21,199
Bank customer service in the eighties. Date myself a little bit,

608
00:39:22,719 --> 00:39:28,119
get a call, Hey, my card got declined, and I

609
00:39:28,119 --> 00:39:30,519
pull up their account number and it would have a

610
00:39:30,639 --> 00:39:34,800
letter and number code G eight over the credit.

611
00:39:34,480 --> 00:39:35,880
Speaker 4: Limit right.

612
00:39:38,400 --> 00:39:41,159
Speaker 3: B four late payment, things like that.

613
00:39:42,679 --> 00:39:44,119
Speaker 4: So you'll get a.

614
00:39:44,079 --> 00:39:48,639
Speaker 3: Declined G six and you'll look on your smartphone. G

615
00:39:48,800 --> 00:39:53,079
six put a post on Facebook that was detrimental to

616
00:39:53,239 --> 00:39:56,119
the government. So you have to go on Facebook and

617
00:39:56,159 --> 00:39:58,960
remove your post, and then you'll get a little message,

618
00:39:59,079 --> 00:40:03,440
a little text message, your card has been enabled. Thank

619
00:40:03,480 --> 00:40:06,760
you for removing that post. Remember in the future to

620
00:40:06,840 --> 00:40:11,119
love your government. And again you're laughing. It's going to happen,

621
00:40:11,199 --> 00:40:14,039
and I would venture to guess that by twenty thirty

622
00:40:14,079 --> 00:40:18,480
that system will be in place. So that's why you know,

623
00:40:20,239 --> 00:40:22,320
there's no time like the present to get right with

624
00:40:22,400 --> 00:40:26,480
the Lord. And if you're not sure how to send

625
00:40:26,480 --> 00:40:29,119
me a text seven one nine sixty five one zero

626
00:40:29,159 --> 00:40:31,159
sixty four to two. May not be able to get

627
00:40:31,159 --> 00:40:32,440
to you right away, but I'll get back to you.

628
00:40:32,559 --> 00:40:36,440
Send me an email the fact Hunter at mail dot com.

629
00:40:37,000 --> 00:40:40,599
We have to educate, We need to be formed spiritually.

630
00:40:40,639 --> 00:40:41,639
We need to be in christ.

631
00:40:42,360 --> 00:40:44,400
Speaker 4: You need to be ready.

632
00:40:44,440 --> 00:40:47,880
Speaker 3: Listen, there's a reason you're putting this timeline and got

633
00:40:47,920 --> 00:40:49,800
to put on that full armor and be ready because

634
00:40:51,480 --> 00:40:53,639
you know a lot of people. I mentioned this before

635
00:40:55,880 --> 00:40:58,079
and I think it's just rich people wanting to be

636
00:40:58,159 --> 00:41:03,079
more rich. This is a spiritual battle. And listen, you

637
00:41:03,119 --> 00:41:09,280
asked anybody in my community. Cash represents freedom everything down here.

638
00:41:10,360 --> 00:41:13,159
You can't go a quarter mile without seeing somebody having

639
00:41:13,159 --> 00:41:15,840
a little stand on the corner of fruit vegetables, eggs

640
00:41:16,920 --> 00:41:18,599
and they have a little lock box. You just drop

641
00:41:18,639 --> 00:41:20,360
your two bucks in there, you take the eggs and go.

642
00:41:22,679 --> 00:41:25,280
We do it all the time as well, fruit vegetable.

643
00:41:25,920 --> 00:41:28,880
We used to have a lot of excess eggs. Wife

644
00:41:28,880 --> 00:41:33,480
would sell them to people she knew cash.

645
00:41:33,559 --> 00:41:34,360
Speaker 4: It is freedom.

646
00:41:35,719 --> 00:41:41,760
Speaker 3: Digital only systems remove that independence once every transaction becomes digital.

647
00:41:41,760 --> 00:41:46,480
Whoever controls the system controls participation itself. If a person

648
00:41:46,519 --> 00:41:49,800
can no longer buy food, can't buy fuel, medicine, or

649
00:41:49,800 --> 00:41:56,159
shelter without digital authorization, at economic power becomes the absolute power.

650
00:41:57,440 --> 00:42:00,079
At the same time, one of the greatest wealth transfers

651
00:42:00,079 --> 00:42:04,679
in history unfolded right in front of us. While most

652
00:42:04,719 --> 00:42:10,320
people are distracted by politics, entertainment, vision, manufactured outrage.

653
00:42:10,320 --> 00:42:12,679
Speaker 4: Oh he took a need during the national anthem.

654
00:42:13,199 --> 00:42:16,159
Speaker 3: Oh this guy, it's just And people take the bait

655
00:42:16,320 --> 00:42:21,639
every single time, and every major financial crisis takes the

656
00:42:21,679 --> 00:42:27,360
same pattern. The ordinary folks suffer, small businesses collapse, retirement

657
00:42:27,360 --> 00:42:33,440
accounts are damaged, jobs disappear, home ownership becomes harder. Meanwhile,

658
00:42:33,480 --> 00:42:38,599
you have enormous corporations, investment firms, and financial institutions. They

659
00:42:38,639 --> 00:42:43,000
get larger, richer, and more powerful than before. And you know,

660
00:42:43,039 --> 00:42:46,000
I'm not going to really get into the two thousand

661
00:42:46,039 --> 00:42:48,159
and eight because we've talked about it one hundred times,

662
00:42:50,440 --> 00:42:54,280
but COVID, my goodness, gracious, that was just the dagger,

663
00:42:54,360 --> 00:43:00,159
the nail in the coffin. It devastated, you know, and

664
00:43:00,199 --> 00:43:04,519
pop restaurants, shops are churches. Well, you look at the

665
00:43:04,599 --> 00:43:11,360
numbers of churches that closed since it's we just had

666
00:43:11,360 --> 00:43:16,079
this in class last week every year, it's negative thousands,

667
00:43:16,159 --> 00:43:19,159
four thousand. I think like X amount open, x amount close.

668
00:43:19,880 --> 00:43:24,480
And the real problem is what's going on in those

669
00:43:24,559 --> 00:43:27,440
churches and what's being taught in those churches and diet

670
00:43:27,519 --> 00:43:32,000
Christianity as I teach it, And in so many of

671
00:43:32,039 --> 00:43:34,639
these buildings, the pastors are are kind of afraid to

672
00:43:35,000 --> 00:43:38,960
speak the truth because they're more worried about losing congregants

673
00:43:39,039 --> 00:43:41,840
than speaking the truth and how we should be living.

674
00:43:43,360 --> 00:43:49,719
It's really staggering. But the illusion of choice, I need

675
00:43:49,760 --> 00:43:52,360
to move along because X amount of time. This could

676
00:43:52,360 --> 00:43:56,719
be a four part series, but the illusion of choice

677
00:43:56,760 --> 00:43:59,119
becomes one of the defining characters of the modern age.

678
00:43:59,360 --> 00:44:02,840
Speaker 4: It truly is is grocery stores.

679
00:44:03,599 --> 00:44:07,159
Speaker 3: They may appear filled with competing brands, but many trace

680
00:44:07,239 --> 00:44:11,480
back to the same parent conglomerates. News outlets present themselves

681
00:44:11,519 --> 00:44:17,199
as rivals while often sharing the same interests investors, advertisers,

682
00:44:17,239 --> 00:44:18,719
and coordinated narratives.

683
00:44:19,960 --> 00:44:20,880
Speaker 4: Political parties.

684
00:44:21,960 --> 00:44:25,800
Speaker 3: Right, listen, the Bushes, the Clintons, they're tight. They Obamas,

685
00:44:25,800 --> 00:44:28,119
the Trumps, they're tight. They'll say things in public, but

686
00:44:28,159 --> 00:44:29,639
they're all part of the club. They're all part of

687
00:44:29,679 --> 00:44:35,800
the klan. Consumers believe that they're navigating a free market

688
00:44:36,199 --> 00:44:41,800
while the deeper architecture grows increasingly centralized. And then you

689
00:44:41,920 --> 00:44:45,840
have corporate monopolies. They share culture itself, right, or they

690
00:44:45,880 --> 00:44:52,119
shape it. Technology giants now influence what information people can access. Boy,

691
00:44:52,159 --> 00:44:55,079
I was just talking to Raoul about this the other day. Right,

692
00:44:56,079 --> 00:44:59,280
you know, in twenty twenty is when they came out

693
00:44:59,360 --> 00:45:02,440
said you will own nothing. Claus Schwab right said you

694
00:45:02,440 --> 00:45:05,360
will own nothing and be happy, and we laughed at him,

695
00:45:05,760 --> 00:45:09,400
what a joke. And here we are in twenty twenty six.

696
00:45:10,000 --> 00:45:14,960
You own nothing in the entertainment world, and we're fine

697
00:45:14,960 --> 00:45:20,679
with it. Well, because you pay nine dollars a month

698
00:45:20,719 --> 00:45:22,320
for Netflix or whatever it.

699
00:45:22,320 --> 00:45:27,039
Speaker 4: Is today, and you watch movies. Right, it's convenient.

700
00:45:27,800 --> 00:45:30,199
Speaker 3: I'll pay X amount of dollars and I can watch

701
00:45:30,239 --> 00:45:34,440
this whole catalog of movies. But guess what if there's

702
00:45:34,480 --> 00:45:37,880
a movie that goes against the narrative, they'll just pull

703
00:45:37,920 --> 00:45:41,280
it and you don't have access to it. That's why

704
00:45:41,880 --> 00:45:44,119
I'm sorry to beat the dead horse today. There's a

705
00:45:44,159 --> 00:45:46,599
book that you think is important to you, you better

706
00:45:46,639 --> 00:45:50,679
get a physical copy of it. Go to Foundations in Faith.

707
00:45:51,199 --> 00:45:54,239
We have a bookstore there and ship right to your

708
00:45:54,239 --> 00:45:56,559
home in a few days. I've got a few books

709
00:45:56,559 --> 00:45:59,320
in there. Joe Harper's got a book in there. And

710
00:45:59,440 --> 00:46:02,159
if there's an important book, if you're an author and

711
00:46:02,280 --> 00:46:04,239
it you know, ties in with what we talk about here,

712
00:46:04,360 --> 00:46:08,239
I'll put it in our little online store wherever it

713
00:46:08,280 --> 00:46:11,679
ships from. Just it's just a link. You control everything.

714
00:46:11,760 --> 00:46:16,360
I'm not shipping, not drop shipping books. But if you're

715
00:46:16,400 --> 00:46:19,559
a you know, independent author that you have a book

716
00:46:19,559 --> 00:46:23,000
on Amazon, I'll promote it there. It's important that you

717
00:46:23,039 --> 00:46:27,320
get the physical copy of the book because any of

718
00:46:27,320 --> 00:46:32,079
those books that are truly important, that expose the matrix.

719
00:46:31,719 --> 00:46:33,280
Speaker 4: They're going to pull them that.

720
00:46:33,400 --> 00:46:41,400
Speaker 3: They truly are corporate monopolies. They shape culture technology giants, right.

721
00:46:41,440 --> 00:46:45,119
They influence what information people can access, what speech is amplified,

722
00:46:45,639 --> 00:46:48,599
what narratives are suppressed. Financial pressure can be used to

723
00:46:48,679 --> 00:46:51,360
enforce ideological conformity across industries.

724
00:46:51,880 --> 00:46:52,039
Speaker 4: Right.

725
00:46:52,119 --> 00:46:55,800
Speaker 3: Banks can close accounts. Again, my personal PayPal was shut down.

726
00:46:56,280 --> 00:46:59,880
Payment processors can deny service, on and on and on,

727
00:47:00,559 --> 00:47:04,639
and the corporate world operates not merely as an economic system,

728
00:47:05,840 --> 00:47:11,719
but it's a mechanism for social engineering. And if you

729
00:47:11,760 --> 00:47:14,400
look at everything that we as a society, except today

730
00:47:14,440 --> 00:47:17,760
in the mid twenty twenties versus what was accepted just

731
00:47:17,840 --> 00:47:25,239
thirty years ago. It's I'm embarrassed, I feel, you know,

732
00:47:25,320 --> 00:47:27,519
our society has failed to stand up for the good

733
00:47:27,559 --> 00:47:31,920
of man, for what's morally good, and we've just allowed it.

734
00:47:33,559 --> 00:47:35,480
They give us a little spaced event. We go on

735
00:47:35,519 --> 00:47:40,639
Facebook and say, oh this stinks, this is awful, and

736
00:47:40,679 --> 00:47:43,559
then you go, you know, you brag to your buddies.

737
00:47:44,320 --> 00:47:46,519
You see what I posted on Facebook. I really told

738
00:47:46,559 --> 00:47:51,519
them right. Meanwhile, it just goes into the digital atmosphere,

739
00:47:51,679 --> 00:47:56,440
disappears into a vacuum. That's why it's so important to

740
00:47:56,480 --> 00:48:01,199
have a community, to have people around you, to stand

741
00:48:01,280 --> 00:48:03,960
up when these things happen, to be out knocking on

742
00:48:04,039 --> 00:48:08,480
people's doors, witnessing, not just doing a podcast. You have

743
00:48:08,559 --> 00:48:13,320
to be changing the pyramid. You know, your foundation has

744
00:48:13,360 --> 00:48:18,840
to start locally, it really does, you know. Beneath all

745
00:48:18,880 --> 00:48:24,039
the complexity, the direction becomes simple. Wealth concentrates upward, ownership

746
00:48:24,119 --> 00:48:29,159
concentrates upward, all of it. Information control. The average citizen

747
00:48:29,199 --> 00:48:33,480
becomes more dependent, more monitored, more in debt. The financial

748
00:48:33,519 --> 00:48:37,559
matrix is not merely about money. It's about power control,

749
00:48:37,800 --> 00:48:43,840
who holds it, and how dependency is engineered generation after generation.

750
00:48:44,599 --> 00:48:48,360
While the public is told it's just one of those things,

751
00:48:48,400 --> 00:48:56,199
it's an unavoidable cost in the modern life. Modern economic

752
00:48:56,239 --> 00:49:00,239
systems don't merely depend on labor. It depends on consumption.

753
00:49:01,119 --> 00:49:06,280
This endless, relentless, never ending consumption. People are trained from

754
00:49:06,360 --> 00:49:14,840
childhood to become consumers before they're ever independent thinkers. Advertising

755
00:49:14,920 --> 00:49:18,559
surrounds them from the moment they wake up until the moment.

756
00:49:18,320 --> 00:49:19,239
Speaker 4: They fall asleep.

757
00:49:19,719 --> 00:49:24,079
Speaker 3: Buy more, upgrade, right even when you order your pizza online.

758
00:49:24,360 --> 00:49:28,719
Get a large for three more bucks, finance more, stream more, subscribe, more,

759
00:49:29,360 --> 00:49:31,920
consume more, go back and watch that movie The Matrix.

760
00:49:32,559 --> 00:49:36,559
Entire industries exist not to meet genuine human needs, but

761
00:49:36,639 --> 00:49:40,960
to manufacture dissatisfaction. The public is constantly told that they

762
00:49:40,960 --> 00:49:44,880
are incomplete without the newest device.

763
00:49:44,559 --> 00:49:46,320
Speaker 4: The newest vehicle, the newest trend.

764
00:49:46,360 --> 00:49:49,679
Speaker 3: Look, I have the iPhone whatever they're on now, right,

765
00:49:52,000 --> 00:49:54,400
status symbols, And that is nothing new, by the way, Right,

766
00:49:54,679 --> 00:49:57,719
when I was in high school, you were judged by

767
00:49:57,719 --> 00:49:59,679
what you were. I have a member's only jacket, right,

768
00:50:00,320 --> 00:50:07,400
the new Rebok high tops right, And that is so silly,

769
00:50:08,679 --> 00:50:13,719
you know, spending two hundred and fifty dollars on shoes

770
00:50:13,840 --> 00:50:16,480
to me, I'm not here to judge you guys. I'm

771
00:50:16,480 --> 00:50:21,679
just saying from my perspective, it's just not what we

772
00:50:21,679 --> 00:50:27,840
were put on this world to do, to focus on consumption.

773
00:50:28,000 --> 00:50:29,639
Speaker 4: And yeah, I'm guilty as all you guys.

774
00:50:29,719 --> 00:50:33,079
Speaker 3: I'm a radio file. I like shortwave radio.

775
00:50:33,239 --> 00:50:33,639
Speaker 4: I like.

776
00:50:35,519 --> 00:50:39,800
Speaker 3: You know, ham radio and those type of things. I

777
00:50:39,800 --> 00:50:42,960
think it's awesome to be able to speak to someone

778
00:50:42,960 --> 00:50:45,920
on the other side of the world, not using a

779
00:50:45,920 --> 00:50:52,840
cell phone, those type of things. But you know, a

780
00:50:52,880 --> 00:50:59,039
person's identity can become tied to what they purchase rather

781
00:50:59,119 --> 00:51:03,920
than who they actually are, and debt fuels that consumption.

782
00:51:04,760 --> 00:51:10,760
Advertising fuels the desire, and social pressure fuels the insecurity.

783
00:51:11,079 --> 00:51:12,840
Speaker 4: And then that is that never.

784
00:51:12,800 --> 00:51:17,039
Speaker 3: Ending system, back to the consumption, desire, insecurity all the

785
00:51:17,079 --> 00:51:22,039
way around. And what makes the system especially dangerous is

786
00:51:22,079 --> 00:51:25,840
that it creates the illusion of freedom while quietly producing dependence.

787
00:51:26,440 --> 00:51:30,639
People believe that they're exercising liberty because they can choose

788
00:51:30,679 --> 00:51:38,480
between products, ban brands and streaming services and slogans, But underneath,

789
00:51:38,960 --> 00:51:44,440
once again, we're being financially enslaved. Beneath the surface, the

790
00:51:44,599 --> 00:51:48,199
last report and again, who knows if this is true,

791
00:51:48,559 --> 00:51:51,400
just like the eight billion people thing, But we're told

792
00:51:51,760 --> 00:51:55,719
upwards of eighty percent of households live paycheck to paycheck

793
00:51:56,920 --> 00:52:01,679
while they're surrounded by financed possessions. They technically don't even own.

794
00:52:02,400 --> 00:52:06,280
Those cars belong to lenders, the homes belong to banks,

795
00:52:07,039 --> 00:52:11,760
and those credit cards are quietly accumulating interest month after month,

796
00:52:12,800 --> 00:52:19,920
and student debt that can follow people for decades, and

797
00:52:19,960 --> 00:52:26,119
the culture that encourages immediate gratification because financially disciplined and

798
00:52:26,360 --> 00:52:28,760
truly independent people are.

799
00:52:28,599 --> 00:52:29,800
Speaker 4: Harder to manipulate.

800
00:52:30,440 --> 00:52:32,039
Speaker 3: Man, you want this car now, don't you know you

801
00:52:32,079 --> 00:52:33,679
don't need to save up for that. You can walk

802
00:52:33,719 --> 00:52:36,000
out of this car today. You just got to sign

803
00:52:36,039 --> 00:52:40,920
your name right here. And a population addicted to consumption

804
00:52:41,320 --> 00:52:46,840
becomes easier to manage because emotional impulses override long term thinking,

805
00:52:47,800 --> 00:52:52,960
and that endless consumption, well, that also creates a permanent distraction.

806
00:52:53,559 --> 00:52:59,639
People overwhelmed by debt, rising prices, economic anxiety, and financial

807
00:52:59,679 --> 00:53:03,599
surve often lack the time, energy, or clarity to question

808
00:53:03,719 --> 00:53:09,239
the deeper systems operating around them. That average person is

809
00:53:09,320 --> 00:53:14,079
exhausted again, They work longer hours, they take a second job,

810
00:53:14,159 --> 00:53:20,400
pick up over time, use another credit card, refinance their house,

811
00:53:20,840 --> 00:53:24,199
which in turn they have to delay retirement, and they

812
00:53:24,280 --> 00:53:29,559
just push through the burnout. And after all that, they

813
00:53:29,639 --> 00:53:32,480
just want to need a release, so they'll flood their

814
00:53:32,519 --> 00:53:38,400
mind with entertainment, social media, sports, the latest celebrities, scandal,

815
00:53:39,480 --> 00:53:45,719
and manufactured outrage, until there is barely any silence left

816
00:53:46,239 --> 00:53:50,159
to think critically about what is happening in the world

817
00:53:50,920 --> 00:53:55,559
right in front of them. The system doesn't merely profit

818
00:53:55,679 --> 00:54:01,199
from consumption, it benefits from the distraction itself.

819
00:54:01,360 --> 00:54:01,599
Speaker 4: Right.

820
00:54:02,320 --> 00:54:06,119
Speaker 3: Fear We always talk about it, and economic fear becomes

821
00:54:06,159 --> 00:54:09,679
one of the most powerful tools of social and political

822
00:54:09,719 --> 00:54:14,440
control as well. Right twenty twenty, no job, no job, right,

823
00:54:15,000 --> 00:54:21,000
fear of losing employment, healthcare, for closure, retirement, saving, all

824
00:54:21,039 --> 00:54:30,599
of that. Fear of financial instability keeps populations compliant. And

825
00:54:30,639 --> 00:54:33,199
in twenty twenty we heard from a lot of good

826
00:54:33,239 --> 00:54:36,519
people that, ma'am, I'm just doing my job.

827
00:54:36,960 --> 00:54:41,159
Speaker 4: Right, Sorry, I'm closing your church. I'm just doing my job.

828
00:54:41,840 --> 00:54:43,880
Speaker 3: Where in as many of those places they were sworn

829
00:54:44,159 --> 00:54:48,880
to uphold the constitution. But that is the beauty and

830
00:54:49,039 --> 00:54:55,000
ugliness of the matrix. Right, A man terrified of losing

831
00:54:55,079 --> 00:54:58,159
everything he owns, becomes a whole lot less likely to

832
00:54:58,239 --> 00:55:04,039
challenge corrupt institutions, speak openly, resist immoral policies, or opposed

833
00:55:04,079 --> 00:55:07,119
growing systems of control. You will see in our lifetime,

834
00:55:07,159 --> 00:55:10,559
maybe the next three or four years, a threat of

835
00:55:11,000 --> 00:55:14,599
veterans losing their benefits if they speak against the government.

836
00:55:16,119 --> 00:55:18,800
Bookmark that day to day May twenty sixth, George said,

837
00:55:18,800 --> 00:55:23,719
this financial insecurity creates a psychological pressure that reaches far

838
00:55:23,800 --> 00:55:28,679
beyond economics. It shapes behavior, speech, risk taking, and even

839
00:55:28,880 --> 00:55:36,360
morality itself. A population consistently living under financial pressure becomes

840
00:55:36,400 --> 00:55:41,639
easier to steer through fear based messaging because survival itself

841
00:55:41,960 --> 00:55:47,360
feels uncertain. And that's why economic crisis are always accompanied

842
00:55:47,360 --> 00:55:54,559
by demands for more centralized authority. Right every crash, shortage, recession,

843
00:55:55,880 --> 00:56:00,880
they always become justification for expanded surveillance, increased control.

844
00:56:01,039 --> 00:56:02,840
Speaker 4: And that new camera system.

845
00:56:03,159 --> 00:56:06,519
Speaker 3: Is everywhere, and we're going to do a podcast on that.

846
00:56:06,519 --> 00:56:07,239
Speaker 4: That is.

847
00:56:09,199 --> 00:56:12,599
Speaker 3: Unacceptable, and we'll talk about it in the coming days

848
00:56:12,599 --> 00:56:17,559
and weeks. But temporary powers always become permanent, right, whether

849
00:56:17,559 --> 00:56:22,440
it's the Patriot Act or what we saw during the

850
00:56:22,519 --> 00:56:29,199
draconian measures during COVID going through an airport. Now it's

851
00:56:29,320 --> 00:56:37,159
just abhorrent. But the more financially desperate people become, the

852
00:56:37,199 --> 00:56:42,239
more willing many are to surrender privacy, independence, and liberty

853
00:56:42,679 --> 00:56:46,800
for the promise of economic safety. And the Bible warned

854
00:56:46,960 --> 00:56:50,519
long ago about the spiritual danger connected to debt and

855
00:56:50,599 --> 00:56:57,159
financial bondage. The borrower is servant to the lender. That

856
00:56:57,320 --> 00:57:01,079
truth from the Book of Proverbs two two, verse seven.

857
00:57:01,440 --> 00:57:06,239
It reaches far beyond personal finance. Debt creates obligation, which

858
00:57:06,360 --> 00:57:11,719
creates dependency, which makes people vulnerable to control. A society

859
00:57:11,840 --> 00:57:16,199
buried under debt becomes easier to manipulate because financial chains

860
00:57:16,639 --> 00:57:22,039
becomes psychological change as well. The modern system has normalized

861
00:57:22,199 --> 00:57:27,480
indebtedness so completely that many people no longer even recognize

862
00:57:27,719 --> 00:57:30,800
the chains that they are bonded under. They see thirty

863
00:57:30,840 --> 00:57:34,920
years debt, that's normal, lifelong payments, part of the deal,

864
00:57:35,559 --> 00:57:38,480
endless refinancing. Oh, got to take care of the house

865
00:57:38,519 --> 00:57:43,559
because just like health insurance, health insurance doesn't cover your

866
00:57:43,559 --> 00:57:46,159
eyes or your teeth, just like homeowner's insurance, well, it

867
00:57:46,199 --> 00:57:49,719
doesn't cover your well and property in the garage, and

868
00:57:49,800 --> 00:57:54,079
this and that. What a scam, What an absolute scam.

869
00:57:55,239 --> 00:57:57,920
Those insurance companies, well ninety nine point nine percent of

870
00:57:57,960 --> 00:58:01,280
those people. They're regular people like us in the matrix

871
00:58:01,280 --> 00:58:03,800
as well, because they have to that's their job, that's

872
00:58:03,800 --> 00:58:08,760
how they feed their family. Permanent financial anxiety is normal,

873
00:58:09,039 --> 00:58:14,360
but scripture presents financial servitude is something dangerous, something capable

874
00:58:14,400 --> 00:58:20,119
of placing one person under the power of another. And

875
00:58:21,360 --> 00:58:25,440
that's why the financial matrix matters so deeply. It's not

876
00:58:25,599 --> 00:58:30,440
just about economics. It's about control over human behavior, and

877
00:58:30,480 --> 00:58:36,320
a population overwhelmed by consumption, burdened by debt, distracted by entertainment,

878
00:58:36,840 --> 00:58:42,199
and a terrified economic collapse becomes easier to influence. The

879
00:58:42,239 --> 00:58:46,800
more dependent people become on centralized systems for survival, the

880
00:58:46,960 --> 00:58:49,360
easier it becomes for those systems.

881
00:58:48,920 --> 00:58:50,119
Speaker 4: To shape what people.

882
00:58:49,840 --> 00:58:54,840
Speaker 3: Believe, what they tolerate, what they fear, and ultimately how

883
00:58:54,880 --> 00:59:04,000
they live. That's going to conclude Part three the Financial Matrix.

884
00:59:04,840 --> 00:59:05,480
Speaker 4: I'm in a.

885
00:59:05,480 --> 00:59:07,920
Speaker 3: Moment going to turn it over to g Edward Griffin

886
00:59:08,480 --> 00:59:14,400
and his lecture The Creature from Jekyl Island from the

887
00:59:14,440 --> 00:59:18,800
mid nineties. Again, we have twelve of these in our series,

888
00:59:19,159 --> 00:59:22,639
and then we also have one or two interviews scheduled

889
00:59:22,639 --> 00:59:26,519
for the summer, and then of course this September is

890
00:59:26,599 --> 00:59:32,000
the twenty fifth anniversary of nine to eleven, and I

891
00:59:32,039 --> 00:59:35,440
guess the proper word would be omnibus. This is going

892
00:59:35,480 --> 00:59:40,679
to be, without a doubt, the most in depth series

893
00:59:40,719 --> 00:59:45,480
of podcasts that we've ever done. Every person, every entity,

894
00:59:45,599 --> 00:59:50,679
every country ever involved in nine to eleven, no matter

895
00:59:50,719 --> 00:59:57,480
how big or small, will be covered in this. Just

896
00:59:57,639 --> 01:00:04,760
a groundbreaking podcast an entire week, five days, several hours

897
01:00:04,840 --> 01:00:07,960
each day breaking down the who's, the what's, the when,

898
01:00:08,000 --> 01:00:10,760
the where, the why and the how. All those questions

899
01:00:11,360 --> 01:00:13,960
will be answered. And we've been working on it, and

900
01:00:14,280 --> 01:00:16,159
you know, by the time we broadcast it, it's going

901
01:00:16,199 --> 01:00:20,639
to be a three or four month worth of production.

902
01:00:21,320 --> 01:00:25,000
After that series of episodes, we are going to go

903
01:00:25,039 --> 01:00:29,000
on hiatus. I will be finishing up school in the spring,

904
01:00:30,000 --> 01:00:33,599
and I have to focus. You can't be on the fence,

905
01:00:33,639 --> 01:00:35,840
you can't be lukewarm when it comes to that stuff.

906
01:00:36,639 --> 01:00:40,960
But I'm using the term hiatus because if things take

907
01:00:41,000 --> 01:00:43,119
a drastic turn in our world, I want to be

908
01:00:43,119 --> 01:00:46,679
able to keep the platform open. But that'll basically wrap

909
01:00:46,800 --> 01:00:50,079
up our sixth year, and there's other things I need

910
01:00:50,079 --> 01:00:50,639
to focus on.

911
01:00:50,719 --> 01:00:51,440
Speaker 4: But we still have.

912
01:00:52,880 --> 01:00:56,760
Speaker 3: Three more months of exposing the truth between the series

913
01:00:56,800 --> 01:00:59,480
we're doing now in our series on nine to eleven.

914
01:01:00,199 --> 01:01:04,119
If there's anything you all need, hit me up. You

915
01:01:04,119 --> 01:01:08,480
have the email and I'll do my best to get

916
01:01:08,480 --> 01:01:10,480
back to you. Just be patient. I do try to

917
01:01:10,519 --> 01:01:11,960
get back to everyone.

918
01:01:12,440 --> 01:01:12,920
Speaker 4: So that's it.

919
01:01:13,000 --> 01:01:15,800
Speaker 3: We'll see you next week. But before you go, i'd

920
01:01:15,880 --> 01:01:18,440
encourage you to hang out and listen to G. Edward

921
01:01:18,519 --> 01:01:22,840
Griffin's lecture the Creature from Jekyll Island. God bless you all.

922
01:01:23,320 --> 01:01:25,480
Keep your head on a swivel and Christ in your heart.

923
01:01:25,559 --> 01:01:28,480
And until we meet again, my friends, we will see you.

924
01:01:30,199 --> 01:01:42,280
Speaker 1: Municipalities such as this, as mister G. Edward Griffin Editor, well,

925
01:01:42,559 --> 01:01:45,440
thank you, Mike, and thank you ladies and gentlemen. I

926
01:01:45,440 --> 01:01:50,400
don't know how to take that remark about age. You know,

927
01:01:50,519 --> 01:01:53,079
when Bill Jasper stands up and they announce him as

928
01:01:53,079 --> 01:02:00,760
the senior editor for the magazine, I know I'm in trouble. Well,

929
01:02:00,800 --> 01:02:03,239
we have a lot of material to cover, so I

930
01:02:03,239 --> 01:02:05,320
think I'll just sort of jump into this as quickly

931
01:02:05,320 --> 01:02:08,199
as possible. I need to warn you about something though,

932
01:02:08,800 --> 01:02:12,400
since this is being videotaped tonight and we have a

933
01:02:12,440 --> 01:02:15,320
limitation on the length of the time on the videotapes.

934
01:02:15,719 --> 01:02:19,519
I have been instructed to divide this into two parts.

935
01:02:20,320 --> 01:02:23,199
The first part will last approximately forty five or fifty

936
01:02:23,199 --> 01:02:25,440
minutes long, and then we'll take a short break, I'm

937
01:02:25,480 --> 01:02:28,199
told while they change tapes, and the next part we

938
01:02:28,280 --> 01:02:35,000
deliver next month. No, now, they're just a few minutes break,

939
01:02:35,000 --> 01:02:36,880
and then we'll continue with part two. So I want

940
01:02:36,920 --> 01:02:40,519
you to know that's coming up. So okay, now to

941
01:02:40,559 --> 01:02:46,199
the topic. Are you ready for this? Okay, so am,

942
01:02:47,039 --> 01:02:49,960
So let's start with history. We'll go back to the

943
01:02:50,000 --> 01:02:55,880
first century BC, to a tiny kingdom called Phrygia, and

944
01:02:55,920 --> 01:02:58,400
it was in that kingdom that there lived a philosopher

945
01:02:58,440 --> 01:03:03,280
but the name of Epictatus. And it was Epictatus who said,

946
01:03:03,920 --> 01:03:08,360
appearances are of four kinds. Things either are as they

947
01:03:08,400 --> 01:03:12,360
appear to be, or they neither are nor appear to be.

948
01:03:13,480 --> 01:03:16,360
Or they are but do not appear to be, Or

949
01:03:16,400 --> 01:03:22,760
they are not and yet appear to be. Don't worry

950
01:03:22,960 --> 01:03:28,559
no quiz on that. Well, that's what he said. When

951
01:03:28,599 --> 01:03:30,480
I read that statement for the first time, I thought

952
01:03:30,480 --> 01:03:33,760
to myself that surely, if Epictatus were alive today, he

953
01:03:33,800 --> 01:03:37,679
would undoubtedly be a Harvard Professor of Money in Banking,

954
01:03:40,440 --> 01:03:43,039
Because this is the kind of explanation we get, isn't

955
01:03:43,079 --> 01:03:45,519
it when we try and figure out what's going on

956
01:03:45,639 --> 01:03:49,159
in the economy or what's going on with the Federal

957
01:03:49,199 --> 01:03:52,920
Reserve system. See what Epictatus did is what is so

958
01:03:53,000 --> 01:03:56,559
commonly done with the experts in this field. Is he

959
01:03:56,599 --> 01:03:59,760
took a relatively simple concept, but by the time he

960
01:03:59,880 --> 01:04:01,880
was through explaining it to us, we didn't have the

961
01:04:01,920 --> 01:04:05,800
foggiest idea when he's talking about. All he said basically

962
01:04:06,000 --> 01:04:11,519
was that appearances can sometimes be deceiving. That's all. We

963
01:04:11,559 --> 01:04:13,599
all know that. But he had to break it down

964
01:04:13,599 --> 01:04:17,119
into four component parts explain that in two ways they

965
01:04:17,119 --> 01:04:19,559
are what they appear to be, and in other two

966
01:04:19,559 --> 01:04:21,679
ways they sometimes are not the way they appear to be.

967
01:04:21,719 --> 01:04:24,199
And they broke it down and we didn't understand what

968
01:04:24,320 --> 01:04:28,239
he's talking about. Nevertheless, I thought that this statement by

969
01:04:28,280 --> 01:04:33,280
Epictatus was a brilliant clue for an outline or a

970
01:04:33,320 --> 01:04:36,800
theme or my presentation, because you know, if there's anything

971
01:04:36,800 --> 01:04:40,639
in the world that is an appearance that is deceiving,

972
01:04:41,679 --> 01:04:45,559
it is the Federal Reserve system, and in particular, it

973
01:04:45,599 --> 01:04:49,000
is one of those appearances of the fourth kind, which is,

974
01:04:49,039 --> 01:04:52,079
I'm sure you all remember, are those which are not

975
01:04:52,800 --> 01:04:56,719
and yet appear to be. So that's going to be

976
01:04:56,800 --> 01:04:59,000
my theme tonight. I'm going to come back to it

977
01:04:59,039 --> 01:05:01,039
now and then if I remember to do it, and

978
01:05:01,159 --> 01:05:03,400
use it as kind of a punctuation point, because this

979
01:05:03,559 --> 01:05:06,960
is perhaps, at the most fundamental level, the most important

980
01:05:06,960 --> 01:05:09,559
thing we need to know about the Federal Reserve system,

981
01:05:09,960 --> 01:05:14,440
which is that it is an appearance of the fourth kind,

982
01:05:14,800 --> 01:05:20,159
something which is not and yet appears to be. When

983
01:05:20,199 --> 01:05:23,159
I did my research on this topic, I came to

984
01:05:23,199 --> 01:05:27,119
the conclusion, which may startle you folks here, that the

985
01:05:27,119 --> 01:05:32,119
Federal Reserve system does not need to be audited. It

986
01:05:32,159 --> 01:05:41,280
needs to be abolished. And the reason I say that

987
01:05:41,360 --> 01:05:43,760
is because I'm sure that if they audited the Federal

988
01:05:43,840 --> 01:05:46,519
Reserve system, they would find out that it's doing exactly

989
01:05:46,519 --> 01:05:50,559
what it's supposed to do. There's no secret there, there's

990
01:05:50,599 --> 01:05:54,519
no shenanigan going on behind the scenes. It's all out

991
01:05:54,599 --> 01:05:57,519
in the open. If we'll just study the Federal Reserve

992
01:05:57,599 --> 01:06:00,599
System on the basis of what we know already, if

993
01:06:00,599 --> 01:06:03,000
we read their literature, if we'll dig into the history,

994
01:06:03,039 --> 01:06:05,119
we find out that it's one of the greatest scams

995
01:06:05,119 --> 01:06:07,639
of all history. Out on the surface, it doesn't need

996
01:06:07,679 --> 01:06:11,679
an audit. An audit, I'm sure, would merely delay the

997
01:06:11,719 --> 01:06:14,360
process for a couple of years, give the American people

998
01:06:14,480 --> 01:06:18,000
the false impression that something is being done about this problem,

999
01:06:18,039 --> 01:06:20,039
and at the end of two years they'd say, well,

1000
01:06:20,079 --> 01:06:25,599
the books are clean. I came to the conclusion that

1001
01:06:25,639 --> 01:06:29,039
the Federal Reserve needed to be abolished for seven reasons, actually,

1002
01:06:29,119 --> 01:06:30,320
and I'd like to read them for you.

1003
01:06:30,400 --> 01:06:30,639
Speaker 5: Now.

1004
01:06:31,000 --> 01:06:34,400
Speaker 1: I've stated them in rather concise terms. Hopefully they'll have

1005
01:06:34,440 --> 01:06:38,599
some shock value so you can remember them. And here

1006
01:06:38,639 --> 01:06:43,440
they are. First of all, it is incapable of accomplishing

1007
01:06:43,559 --> 01:06:50,280
its stated objectives. Two, it is a cartel operating against

1008
01:06:50,280 --> 01:06:55,559
the public interest. Three, it is the supreme instrument of usury.

1009
01:06:57,199 --> 01:07:04,519
Four it generates our most fair tax, five it encourages war,

1010
01:07:06,039 --> 01:07:11,639
six it destabilizes the economy. And seven it is an

1011
01:07:11,719 --> 01:07:16,159
instrument of totalitarianism. Now, I don't know what you think

1012
01:07:16,199 --> 01:07:18,280
about those seven points. I know that a lot of

1013
01:07:18,280 --> 01:07:21,519
you are totally in agreement with it. I can tell

1014
01:07:21,559 --> 01:07:24,880
by your reaction. I trust that there are some skeptics

1015
01:07:24,880 --> 01:07:28,199
here tonight. I hope there are otherwise I feel like

1016
01:07:28,280 --> 01:07:32,559
the minister talking to the choir. Usually there are skeptics

1017
01:07:32,599 --> 01:07:35,079
in my audience, and frankly, those are the ones I'm

1018
01:07:35,280 --> 01:07:39,480
most interested in talking to. And for the skeptics, I'm

1019
01:07:39,519 --> 01:07:43,039
sure that you are thinking those sound like pretty far

1020
01:07:43,079 --> 01:07:46,400
out statements. How could you ever demonstrate them to be true?

1021
01:07:47,719 --> 01:07:50,480
But I think you would agree, regardless of your preliminary

1022
01:07:50,519 --> 01:07:53,119
conclusion about those statements, that if any of them could

1023
01:07:53,119 --> 01:07:55,440
be proven to be true, it would be good enough

1024
01:07:55,480 --> 01:07:58,360
reason to abolish the Federal Reserve system. So let's take

1025
01:07:58,360 --> 01:08:02,400
a look and see whether they can be supported. Time

1026
01:08:02,440 --> 01:08:05,719
doesn't permit to go into all seven of those here

1027
01:08:05,800 --> 01:08:09,679
this evening, but I would like to splash around on

1028
01:08:09,840 --> 01:08:14,360
at least the first four of them to show you that, indeed,

1029
01:08:14,639 --> 01:08:19,880
there is ample evidence to support these conclusions. And I

1030
01:08:19,880 --> 01:08:22,039
think the best place to begin with all of this

1031
01:08:22,279 --> 01:08:25,720
is where the action was, and that is the creation

1032
01:08:26,079 --> 01:08:29,359
of the Federal Reserve system. And that takes us directly

1033
01:08:29,399 --> 01:08:33,640
to the title of my book, The Creature from Jekyl Island.

1034
01:08:33,680 --> 01:08:36,039
You can almost hear the music being played in the

1035
01:08:36,079 --> 01:08:39,079
background as they do some kind of a spot commercial.

1036
01:08:39,119 --> 01:08:42,600
To sell this book, I had to admit I had

1037
01:08:42,600 --> 01:08:44,560
a lot of fun with that title because I had

1038
01:08:44,560 --> 01:08:47,279
this fantasy in my mind that someday it might be

1039
01:08:47,319 --> 01:08:51,199
in a bookstore window and people would pass by and think, oh,

1040
01:08:51,279 --> 01:08:58,520
it's a sequel to Jurassic Park. But anyway, that will

1041
01:08:58,560 --> 01:09:02,119
never happen, I'm sure. The fact of the matter is,

1042
01:09:02,159 --> 01:09:04,239
for those of you who know a little bit about

1043
01:09:04,239 --> 01:09:06,640
this topic, the title has quite a bit of meaning

1044
01:09:06,760 --> 01:09:09,479
in it, and we have a lot to learn by

1045
01:09:09,520 --> 01:09:13,079
exploring what that meaning is. First of all, Jekyl Island

1046
01:09:13,119 --> 01:09:15,800
is a real island. It's off the coast of Georgia,

1047
01:09:16,840 --> 01:09:21,920
and it was on that island back in nineteen ten

1048
01:09:23,159 --> 01:09:27,319
that the Federal Reserve system was conceived at a highly

1049
01:09:27,520 --> 01:09:31,279
secret meeting that took place there. And what I'd like

1050
01:09:31,319 --> 01:09:33,880
to do is talk about this meeting and show you that,

1051
01:09:34,239 --> 01:09:37,960
in fact, the Federal Reserve was created there and there

1052
01:09:38,159 --> 01:09:41,680
was a lot of secrecy surrounding it. And then we'll

1053
01:09:41,720 --> 01:09:46,720
be confronted with the question why the secrecy. When things

1054
01:09:46,720 --> 01:09:51,319
are done in secret, there are often things to hide,

1055
01:09:51,520 --> 01:09:54,199
and we'll explore what it was that they wanted to hide,

1056
01:09:55,359 --> 01:09:59,359
and when we finally understand what that was, will be

1057
01:09:59,479 --> 01:10:01,840
face to f with one of the most important facts

1058
01:10:01,840 --> 01:10:05,479
about the Federal reserve system that is not generally known.

1059
01:10:07,399 --> 01:10:12,359
In nineteen ten, Jekyl Island was privately owned, owned by

1060
01:10:12,359 --> 01:10:15,920
a small group of millionaires. In those days, they were millionaires.

1061
01:10:16,159 --> 01:10:21,800
In today's dollars, they would be billionaires from New York.

1062
01:10:22,560 --> 01:10:26,359
This is where their families went to spend the winter months.

1063
01:10:26,479 --> 01:10:29,479
It was a resort island, a resort club. It was

1064
01:10:29,520 --> 01:10:33,000
called the Jekyl Island Club, and there was a very

1065
01:10:33,079 --> 01:10:37,000
elaborate clubhouse there which was the center of their social activities.

1066
01:10:38,279 --> 01:10:40,159
It's still there by the way, if anybody wants to

1067
01:10:40,239 --> 01:10:43,319
visit it. The island has been purchased by the State

1068
01:10:43,359 --> 01:10:47,760
of Georgia and this clubhouse has been renovated. It's a

1069
01:10:47,800 --> 01:10:54,560
beautiful thing. And around this clubhouse they had cottages which

1070
01:10:54,600 --> 01:10:56,680
were built by many of the families that belonged to

1071
01:10:56,680 --> 01:11:01,560
the club. Cottages are not exactly the word I would

1072
01:11:01,560 --> 01:11:05,920
have chosen to describe these structures. I remember on taking

1073
01:11:05,920 --> 01:11:07,920
the tour through one of them, the guide said that

1074
01:11:07,920 --> 01:11:13,399
there were fourteen bathrooms in that cottage, So you have

1075
01:11:13,439 --> 01:11:15,840
an idea of the kind of elegance that was there.

1076
01:11:18,079 --> 01:11:19,920
And any event, the number of bathrooms has nothing to

1077
01:11:19,920 --> 01:11:21,439
do with this story. I just get hung up on

1078
01:11:21,520 --> 01:11:24,359
that because it's hard for me to imagine a cottage

1079
01:11:24,359 --> 01:11:28,079
with that man that much running plumbing me. But the

1080
01:11:28,119 --> 01:11:31,520
important point was that this is where the Federal Reserve

1081
01:11:31,640 --> 01:11:35,960
system was conceived, as in that clubhouse. So let's tell

1082
01:11:36,000 --> 01:11:40,319
that story. It all began in November of nineteen ten

1083
01:11:41,680 --> 01:11:47,439
when Senator Nelson Aldridge sent his private railroad car to

1084
01:11:47,520 --> 01:11:51,520
the New Jersey Railroad station, where there it was in

1085
01:11:51,600 --> 01:11:55,680
readiness for the arrival of himself and six other men

1086
01:11:56,880 --> 01:11:59,920
who were instructed to come under conditions of great secrecy.

1087
01:12:00,800 --> 01:12:04,640
For example, they were told to come one at a time,

1088
01:12:04,960 --> 01:12:07,680
not to be seen together, not to dine together. On

1089
01:12:07,720 --> 01:12:10,760
the night of their departure. If they had arrived at

1090
01:12:10,760 --> 01:12:13,520
the same time, they were instructed to pretend as though

1091
01:12:13,560 --> 01:12:17,359
they didn't even know each other. They were to avoid

1092
01:12:17,439 --> 01:12:21,960
newspaper reporters because these were well known men, and had

1093
01:12:22,000 --> 01:12:26,920
they been spotted by reporters, which often frequented the railroad station,

1094
01:12:27,680 --> 01:12:31,720
especially had they been seen together, why many questions would

1095
01:12:31,720 --> 01:12:35,800
have been asked. One of the men carried a shotgun

1096
01:12:35,840 --> 01:12:38,199
in a big black case, so that if he had

1097
01:12:38,199 --> 01:12:40,119
been asked where he was going, he was prepared to

1098
01:12:40,159 --> 01:12:42,199
say that he was going on a duck hunting trip.

1099
01:12:43,399 --> 01:12:45,680
And the interesting thing about that little piece of the

1100
01:12:45,760 --> 01:12:48,720
history is that this man, we'd find out later from

1101
01:12:48,720 --> 01:12:52,399
his biographer, never fired a gun in his life, even

1102
01:12:52,439 --> 01:12:55,800
had to borrow that shotgun in order to participate in

1103
01:12:55,800 --> 01:13:01,159
this deception. Even after they got on board the railroad car,

1104
01:13:01,960 --> 01:13:06,680
this pattern continued. They were told to use first names only,

1105
01:13:07,000 --> 01:13:09,960
not to use last names, and two of the men

1106
01:13:10,199 --> 01:13:15,079
adopted code names completely. The reason for that is that

1107
01:13:15,159 --> 01:13:18,159
they were afraid that the servants on board the train

1108
01:13:18,239 --> 01:13:20,760
would recognize who they were if they used their last names,

1109
01:13:21,720 --> 01:13:25,359
and they knew that if word leaked out in that

1110
01:13:25,439 --> 01:13:29,079
fashion and eventually found its way into the press, the

1111
01:13:29,119 --> 01:13:32,319
whole purpose of the meeting would have been completely destroyed,

1112
01:13:33,640 --> 01:13:38,399
so absolute secrecy was essential. Well. The train traveled for

1113
01:13:38,439 --> 01:13:42,279
two nights and a day on a thousand mile journey

1114
01:13:42,279 --> 01:13:47,600
to the south, and when they awoke on the second morning,

1115
01:13:48,319 --> 01:13:52,479
the car was on the siding the railroad siding at Brunswick, Georgia.

1116
01:13:53,760 --> 01:13:56,800
From there they took the ferryboat across the Inland Strait

1117
01:13:58,079 --> 01:14:02,119
to Jekyl Island and to the clubhouse, and for the

1118
01:14:02,159 --> 01:14:06,319
next nine days these men sat around the table and

1119
01:14:06,439 --> 01:14:10,760
hammered out all the important details of what eventually became

1120
01:14:11,520 --> 01:14:15,479
the Federal Reserve System. And incidentally, if you visit that

1121
01:14:15,560 --> 01:14:18,239
clubhouse today, you can walk down to the end of

1122
01:14:18,279 --> 01:14:21,399
the one corridor there and on a door is a

1123
01:14:21,439 --> 01:14:25,279
brass plaque and it says, in this room the Federal

1124
01:14:25,319 --> 01:14:30,840
Reserve System was created. When they were done, they got

1125
01:14:30,880 --> 01:14:34,039
back on board the train back to New York and disappaired.

1126
01:14:35,119 --> 01:14:38,199
And for quite a few years after that, these men

1127
01:14:38,239 --> 01:14:43,239
denied that any such meeting ever took place. It wasn't

1128
01:14:43,319 --> 01:14:48,079
until after the Federal Reserve was firmly established that only

1129
01:14:48,119 --> 01:14:51,000
then did they begin to talk openly about it. They

1130
01:14:51,000 --> 01:14:53,439
wrote books on it. One of them wrote a magazine article,

1131
01:14:53,840 --> 01:14:57,920
and they gave interviews to newspaper reporters. And so now,

1132
01:14:57,920 --> 01:15:00,279
many years later, it's possible for us to go to

1133
01:15:00,359 --> 01:15:06,119
the public record and find in print detailed descriptions of

1134
01:15:06,159 --> 01:15:10,880
what happened at that meeting. Well, who were these men?

1135
01:15:12,680 --> 01:15:15,079
The first one I've already mentioned, the one with the

1136
01:15:15,159 --> 01:15:20,439
railroad car. Senator Nelson Aldridge, who was the Republican whip

1137
01:15:20,479 --> 01:15:24,479
in the Senate He was also chairman of the National

1138
01:15:24,600 --> 01:15:29,119
Monetary Commission, which was that special committee of Congress which

1139
01:15:29,199 --> 01:15:34,359
was created for the purpose of proposing legislation which was

1140
01:15:35,359 --> 01:15:41,199
to reform banking. That was the idea, banking needed reform,

1141
01:15:41,880 --> 01:15:46,079
and the American people were greatly concerned in those days

1142
01:15:46,119 --> 01:15:48,479
over things they were going on in the banking industry.

1143
01:15:49,039 --> 01:15:51,279
People were losing their money in the banks because they

1144
01:15:51,279 --> 01:15:54,880
weren't keeping their promises to hold their deposits in reserve.

1145
01:15:55,399 --> 01:15:57,319
There were runs on the bank and the banks couldn't

1146
01:15:57,359 --> 01:15:59,760
pay the people back. But most of all, they were

1147
01:15:59,760 --> 01:16:04,880
concerned over the concentration of financial power that was in

1148
01:16:04,920 --> 01:16:07,479
the hands of a small group of very powerful and

1149
01:16:07,600 --> 01:16:11,920
large banks in New York on Wall Street. This is

1150
01:16:11,960 --> 01:16:16,079
what they called the money Trust. That was the name,

1151
01:16:16,239 --> 01:16:18,760
and it was a very popular expression in the newspapers,

1152
01:16:19,079 --> 01:16:22,720
and quite a few politicians were elected to office on

1153
01:16:22,800 --> 01:16:27,479
their campaign promise to break the grip of the money Trust.

1154
01:16:29,680 --> 01:16:33,239
President Wilson was one of those politicians, by the way.

1155
01:16:34,119 --> 01:16:38,159
So that was the purpose of the National Monetary Commission,

1156
01:16:38,159 --> 01:16:41,159
which was to propose legislation, which eventually became the Federal

1157
01:16:41,239 --> 01:16:44,199
Reserve Act, to break the grip of the money trust

1158
01:16:44,239 --> 01:16:50,119
over the financial markets of America. Aldridge was a business

1159
01:16:50,159 --> 01:16:54,800
associate of JP Morgan. He was the father in law

1160
01:16:55,039 --> 01:16:59,600
to John D. Rockefeller Junior, which means, of course, that

1161
01:16:59,640 --> 01:17:04,399
eventual he became the grandfather of Nelson Rockefeller, our former

1162
01:17:04,479 --> 01:17:09,399
vice president. You remember, his full name was Nelson Aldridge Rockefeller,

1163
01:17:09,880 --> 01:17:12,840
so he derived his middle name from his famous grandfather.

1164
01:17:14,560 --> 01:17:18,039
The second person at the meeting was Abraham piat Andrew,

1165
01:17:18,800 --> 01:17:22,640
who was Assistant Secretary of the Treasury. He later became

1166
01:17:22,680 --> 01:17:25,680
a congressman, but he was very prominent in banking circles.

1167
01:17:27,159 --> 01:17:30,840
Frank Vanderlip was there. He was the president of the

1168
01:17:31,039 --> 01:17:34,680
National City Bank of New York, which was the largest

1169
01:17:35,159 --> 01:17:38,720
and the most powerful of all the banks in the country,

1170
01:17:39,359 --> 01:17:44,439
representing the financial interests of William Rockefeller and the international

1171
01:17:44,479 --> 01:17:50,319
investment firm of con Loeben Company. Henry Davison was there.

1172
01:17:50,960 --> 01:17:54,520
He was the senior partner of the J. P. Morgan Company.

1173
01:17:55,640 --> 01:17:59,119
Charles Norton was president. He was the president of the

1174
01:17:59,119 --> 01:18:02,720
First National Bank of New York, which was another one

1175
01:18:02,760 --> 01:18:08,079
of the giants. Also there was Benjamin Strong, who was

1176
01:18:08,119 --> 01:18:11,479
the head of J. P. Morgan's Bankers Trust Company and

1177
01:18:11,560 --> 01:18:14,720
incidentally three years later, when the Federal Reserve System was

1178
01:18:14,760 --> 01:18:19,880
finally created, he became the first head of the system.

1179
01:18:21,479 --> 01:18:24,520
And finally there was Paul Warburg, who was probably the

1180
01:18:24,520 --> 01:18:27,039
most important of all the men there because of his

1181
01:18:27,199 --> 01:18:31,600
knowledge of banking as it was practiced in Europe. Paul

1182
01:18:31,640 --> 01:18:36,119
Warburg was born in Germany. He eventually became a naturalized

1183
01:18:36,159 --> 01:18:41,279
American citizen. He was a partner in Kuhn Loeben Company.

1184
01:18:42,439 --> 01:18:46,039
He was a representative of the Rothschild banking dynasty in

1185
01:18:46,119 --> 01:18:49,920
England and France, and through all the years of his

1186
01:18:50,000 --> 01:18:54,159
banking in America, he remained in very close contact with

1187
01:18:54,239 --> 01:18:57,920
his brother Max Warburg, who was the head of the

1188
01:18:57,960 --> 01:19:04,560
Warburg Banking Consortium in Germany and the Netherlands. Paul Warburg

1189
01:19:04,640 --> 01:19:09,000
was one of the wealthiest men in the world. And

1190
01:19:09,199 --> 01:19:12,479
those of you who are little orphanani fans, you'll remember

1191
01:19:12,600 --> 01:19:17,560
Daddy Warbucks. Well, Paul Warburg was the real Daddy Warbucks

1192
01:19:17,600 --> 01:19:21,520
after whom that character was named, and everyone at the

1193
01:19:21,560 --> 01:19:24,159
time knew it. I have his photograph in the book.

1194
01:19:24,199 --> 01:19:26,840
If you'd like to compare his picture to the drawing

1195
01:19:26,920 --> 01:19:31,439
rendition of Daddy Warbucks, you'll see the similarity between Warbucks

1196
01:19:31,479 --> 01:19:36,039
and Warburg. And also, while we're on the subject of

1197
01:19:36,079 --> 01:19:40,000
cartoon characters, anyone who's played Monopoly will remember the drawing

1198
01:19:40,039 --> 01:19:43,199
of the capitalist with the handlebar, mustache and the cigar.

1199
01:19:43,680 --> 01:19:50,039
That's J. P. Morgan. Those of the seven men who

1200
01:19:50,319 --> 01:19:54,680
were on Jackyo Island. And as incredible as it may seem,

1201
01:19:55,680 --> 01:20:02,159
they represented approximately one fourth of the wealth the entire world.

1202
01:20:03,600 --> 01:20:05,439
And these are the men that sat around a table

1203
01:20:05,439 --> 01:20:10,359
on Jekyl Island and created the Federal Reserve system. What's

1204
01:20:10,399 --> 01:20:15,239
going on here should arouse our curiosity a little bit.

1205
01:20:16,079 --> 01:20:20,520
It didn't just happen. Well, speaking of it just happening.

1206
01:20:20,920 --> 01:20:25,039
For the skeptics, you're probably wondering, did it really happen

1207
01:20:25,079 --> 01:20:28,800
that way? Perhaps Griffin is exaggerating this to make a point. Well, yes,

1208
01:20:28,840 --> 01:20:31,399
it really happened that way, and to illustrate that. We

1209
01:20:31,439 --> 01:20:34,279
could go to a lot of documentation, but to simplify this,

1210
01:20:34,359 --> 01:20:37,000
I'd like to just read for you a short excerpt

1211
01:20:37,039 --> 01:20:41,279
taken from one article. One article written by Frank Vanderlipp,

1212
01:20:42,119 --> 01:20:44,560
who was one of the attendees at that meeting, and

1213
01:20:44,640 --> 01:20:49,239
this was written in the Saturday Evening Post and it

1214
01:20:49,319 --> 01:20:53,920
appeared on February ninth, nineteen thirty five, and this is

1215
01:20:53,960 --> 01:20:58,039
what Vanderlip said. I do not feel it is any

1216
01:20:58,079 --> 01:21:00,640
exaggeration to speak of our secret de x expedition to

1217
01:21:00,720 --> 01:21:04,600
Jekyl Island as the occasion of the actual conception of

1218
01:21:04,600 --> 01:21:09,239
what eventually became the Federal Reserve system. We were told

1219
01:21:09,279 --> 01:21:12,439
to leave our last names behind us. We were told

1220
01:21:12,479 --> 01:21:14,800
further that we should avoid dining together. On the night

1221
01:21:14,840 --> 01:21:17,960
of our departure, we were instructed to come, one at

1222
01:21:17,960 --> 01:21:21,880
a time, and as unobtrusively as possible, to the railroad

1223
01:21:22,000 --> 01:21:25,039
terminal on the New Jersey littoral of the Hudson, where

1224
01:21:25,119 --> 01:21:28,720
Senator Aldridge's private car would be in readiness attached to

1225
01:21:28,760 --> 01:21:32,359
the rear end of a train to the south. Once

1226
01:21:32,399 --> 01:21:35,479
aboard the private car, we began to observe the taboo

1227
01:21:35,600 --> 01:21:39,359
that had been fixed on last names. We addressed one

1228
01:21:39,359 --> 01:21:44,600
another as Ben Paul Nelson and Abe Davison, and I

1229
01:21:44,680 --> 01:21:49,279
adopted even deeper disguises, abandoning our first name on the

1230
01:21:49,279 --> 01:21:53,399
theory that we were always right. He became Wilbur and

1231
01:21:53,479 --> 01:22:00,000
I became Orville. After those two aviation pioneers, the Wright brothers,

1232
01:21:59,840 --> 01:22:03,159
the servants and train crew may have known the identities

1233
01:22:03,159 --> 01:22:05,439
of one or two of us, but they did not

1234
01:22:05,640 --> 01:22:09,039
know all, and it was the names of all printed together.

1235
01:22:09,720 --> 01:22:13,199
They would have made our mysterious journey significant in Washington,

1236
01:22:13,640 --> 01:22:18,600
in Wall Street, even in London. Discovery we knew simply

1237
01:22:18,920 --> 01:22:24,640
must not happen. Well, why what's the big deal here?

1238
01:22:24,880 --> 01:22:27,479
What's wrong with a group of bankers getting together in

1239
01:22:27,560 --> 01:22:33,520
private and talking about banking or banking legislation? And the

1240
01:22:33,560 --> 01:22:38,239
answer to that question is provided by Vanderlip himself in

1241
01:22:38,279 --> 01:22:42,319
the same article. He said, if it were to be

1242
01:22:42,359 --> 01:22:46,079
exposed publicly that our particular group had got together and

1243
01:22:46,079 --> 01:22:49,479
written a banking bill, that bill would have no chance

1244
01:22:49,560 --> 01:22:54,920
whatever of passage by Congress. Why not, because the purpose

1245
01:22:54,960 --> 01:22:56,960
of the bill was to break the grip of the

1246
01:22:57,000 --> 01:22:59,319
money Trust, and ladies and gentlemen, it was written by

1247
01:22:59,319 --> 01:23:03,760
the money Trust. It's as simple as that. Had that

1248
01:23:03,840 --> 01:23:07,680
fact been known from the very beginning, the public would

1249
01:23:07,800 --> 01:23:10,840
never have accepted it as a means of breaking the

1250
01:23:10,920 --> 01:23:13,399
grip over the money Trust, and we would never have

1251
01:23:13,560 --> 01:23:17,399
had a federal reserve system because the scam would have

1252
01:23:17,439 --> 01:23:22,199
been exposed from the beginning. This was like having the

1253
01:23:22,239 --> 01:23:30,560
Fox build a henhouse and install the security system. So

1254
01:23:30,680 --> 01:23:35,119
there is a primary reason for the secrecy, and it's

1255
01:23:35,119 --> 01:23:38,720
a fact that most Americans have not even considered that

1256
01:23:38,800 --> 01:23:41,920
there might have been some kind of deception, massive deception

1257
01:23:42,119 --> 01:23:45,439
at the very inception of the Federal Reserve system, and

1258
01:23:45,479 --> 01:23:49,439
for a very good reason. But there's more to it

1259
01:23:49,479 --> 01:23:54,560
than that, a lot more than that. Consider the composition

1260
01:23:54,640 --> 01:24:00,399
of this group and the financial powers they represented. Anything

1261
01:24:00,439 --> 01:24:05,960
strange about that mixture? Here? We had the Rockefellers, we

1262
01:24:06,000 --> 01:24:12,680
had the Morgan's Counlobin Company, the Rothschilds, the Warburgs, all

1263
01:24:13,640 --> 01:24:17,319
in one room for nine days plus two days on

1264
01:24:17,359 --> 01:24:20,640
the train coming to an agreement. What's going on here?

1265
01:24:20,920 --> 01:24:27,079
Anything strange about that mixture? Well, ladies and gentlemen, these

1266
01:24:27,159 --> 01:24:32,880
were competitors. These were the giants in the field which

1267
01:24:32,960 --> 01:24:36,199
prior to this period had been beating their heads against

1268
01:24:36,279 --> 01:24:40,039
each other for dominance in the marketplace, for dominance in

1269
01:24:40,079 --> 01:24:42,479
the financial markets of the world, not only New York,

1270
01:24:42,520 --> 01:24:50,279
but Paris and London, everywhere. Competitors. This is extremely significant

1271
01:24:50,840 --> 01:24:54,079
because it happened at precisely that point of American history

1272
01:24:54,920 --> 01:25:01,600
when business was undergoing a major ideological transition. Prior to

1273
01:25:01,640 --> 01:25:05,640
this period, America had grown and prospered and surpassed all

1274
01:25:05,720 --> 01:25:09,399
the countries of Europe as an industrial and economic power

1275
01:25:09,439 --> 01:25:13,479
because it adhered to the principle of free enterprise competition.

1276
01:25:15,479 --> 01:25:17,920
And it was in this period that a rapid transition

1277
01:25:18,119 --> 01:25:22,520
was taking place to the concept of monopoly and cartel,

1278
01:25:24,000 --> 01:25:26,840
going back, in fact, to the old world concept which

1279
01:25:26,840 --> 01:25:30,560
had held Europe back for all these years. Monopolies and

1280
01:25:30,640 --> 01:25:35,239
cartels were becoming the order of the day in America.

1281
01:25:35,680 --> 01:25:38,119
It was John D. Rockefeller the first who said it.

1282
01:25:38,479 --> 01:25:44,039
He said competition is a sin. He believed it. All

1283
01:25:44,079 --> 01:25:46,760
of his biographers quote him on that one, by the way,

1284
01:25:47,359 --> 01:25:50,800
and he and others of these industrialists of the period

1285
01:25:50,800 --> 01:25:54,199
were devoting all of their time to the elimination of competition.

1286
01:25:54,520 --> 01:25:58,319
They did not believe in free enterprise competition at all.

1287
01:25:58,439 --> 01:26:01,319
They knew that the road to rich, the road to

1288
01:26:01,439 --> 01:26:04,479
riches in power, was through the elimination of their competition.

1289
01:26:05,920 --> 01:26:08,239
And if they couldn't beat their competition out, then they

1290
01:26:08,239 --> 01:26:10,039
tried to buy them up. If that didn't work, they

1291
01:26:10,119 --> 01:26:13,520
joined with them in a shared monopoly. And that is

1292
01:26:13,760 --> 01:26:18,119
a cartel, a shared monopoly. Perhaps I should define that

1293
01:26:18,199 --> 01:26:20,199
word in more details, so at least you'll know what

1294
01:26:20,239 --> 01:26:22,880
I'm talking about when I use the word a cartel

1295
01:26:23,119 --> 01:26:28,319
is a group of independently owned businesses which come together

1296
01:26:28,359 --> 01:26:34,159
for the purpose of reducing or eliminating competition between themselves

1297
01:26:34,920 --> 01:26:38,439
so that they can enhance their profit margins or secure

1298
01:26:38,479 --> 01:26:42,479
their position in the marketplace. And they do this by

1299
01:26:42,520 --> 01:26:46,520
price fixing. We won't compete on price, or they divide

1300
01:26:46,600 --> 01:26:50,039
up geographical markets or products and services. For example, if

1301
01:26:50,039 --> 01:26:52,680
we were forming a cartel here, I might say, well,

1302
01:26:52,720 --> 01:26:54,920
I get the north and you get the South. We

1303
01:26:54,960 --> 01:26:58,399
won't compete. Or I might insist that I get to

1304
01:26:58,439 --> 01:27:02,600
produce the gizmo, you can produce the widget, and we

1305
01:27:02,640 --> 01:27:06,960
won't compete. I will share patents and processes, we won't compete.

1306
01:27:06,960 --> 01:27:09,640
And every time we agree to eliminate one area of

1307
01:27:09,640 --> 01:27:13,399
competition between ourselves, we move closer and closer together, until

1308
01:27:13,399 --> 01:27:17,800
finally we are as one industry insofar as the marketplace

1309
01:27:17,880 --> 01:27:21,479
is concerned, even though our component parts are independently owned,

1310
01:27:22,800 --> 01:27:27,199
and that is a cartel, and so that enhances our profits.

1311
01:27:27,600 --> 01:27:30,720
We can get more for our products and services than

1312
01:27:30,760 --> 01:27:34,119
we could in the arena of free enterprise competition. And

1313
01:27:34,159 --> 01:27:36,079
of course, the other side of that coin is that

1314
01:27:36,119 --> 01:27:39,520
the public pays more for those products or services than

1315
01:27:39,520 --> 01:27:42,960
they would otherwise, and that is just as true in

1316
01:27:43,000 --> 01:27:46,039
a banking cartel as it is in any other kind

1317
01:27:46,079 --> 01:27:51,560
of cartel. And the amazing fact emerges that when you

1318
01:27:51,600 --> 01:27:55,279
study this period that for the fifteen years before the

1319
01:27:55,319 --> 01:27:58,319
meeting on Jekyl Island, these groupings of which we're speaking

1320
01:27:58,640 --> 01:28:04,399
had come together increasingly in joint ventures. They were learning

1321
01:28:04,479 --> 01:28:08,399
how to avoid competition between themselves. They knew they couldn't

1322
01:28:08,479 --> 01:28:10,600
knock each other out. They had tried that it was

1323
01:28:10,640 --> 01:28:14,319
too costly. Now it was time to come together. And

1324
01:28:14,399 --> 01:28:18,239
what happened on Jeckel Island is that they formed a

1325
01:28:18,359 --> 01:28:24,199
banking cartel and they called it the Federal Reserve System.

1326
01:28:24,960 --> 01:28:28,720
An amazing fact that all these years we've had something

1327
01:28:28,760 --> 01:28:31,239
which most people have thought was the government operation of

1328
01:28:31,279 --> 01:28:34,439
some kind or another. We were told there was a

1329
01:28:34,479 --> 01:28:38,479
creation to protect the people, to stabilize the economy, and

1330
01:28:38,520 --> 01:28:42,640
it's a cartel. And the purpose of a cartel is

1331
01:28:42,640 --> 01:28:45,119
to enhance the profit structure of the members of the

1332
01:28:45,159 --> 01:28:53,479
cartel period. That's the second amazing discovery to be learned.

1333
01:28:53,479 --> 01:28:58,039
If we understand and analyze what happened on Jekyl Island,

1334
01:28:58,119 --> 01:29:03,359
back in nineteen ten. But there's a third element, which

1335
01:29:03,399 --> 01:29:07,319
is perhaps even the most important of all, and that

1336
01:29:07,600 --> 01:29:15,239
is that this cartel went into partnership with the government. Well,

1337
01:29:15,319 --> 01:29:18,479
cartels often do that to enforce their cartel agreements, but

1338
01:29:18,560 --> 01:29:22,680
in this case they did it in spades. Now, in

1339
01:29:22,760 --> 01:29:27,399
any partnership, there has to be a payoff. There has

1340
01:29:27,439 --> 01:29:30,239
to be some benefit to the partners. Otherwise they won't

1341
01:29:30,239 --> 01:29:32,039
go into the partnership, or if they go into it,

1342
01:29:32,039 --> 01:29:35,199
they won't stay in it for very long. So it's

1343
01:29:35,239 --> 01:29:38,760
a legitimate question for us to ask, what is the payoff?

1344
01:29:38,840 --> 01:29:42,560
What's the benefit to these partners Let's find out why

1345
01:29:42,600 --> 01:29:45,319
the government is in this partnership, and then we'll find

1346
01:29:45,359 --> 01:29:50,720
out why the banking cartel is in it. And in

1347
01:29:50,800 --> 01:29:54,720
order to find out what the payoff is, we'll have

1348
01:29:54,800 --> 01:29:59,920
to examine how the federal reserve system creates money. That's

1349
01:30:00,079 --> 01:30:04,920
the key. Now, if you're not familiar with how money

1350
01:30:05,000 --> 01:30:07,239
is created in America, this is going to be really

1351
01:30:07,640 --> 01:30:10,079
some experience to go through this for the first time.

1352
01:30:10,079 --> 01:30:11,520
You're going to shake your heads and say, I don't

1353
01:30:11,520 --> 01:30:15,760
believe this. I call it the Mandrake mechanism. After that

1354
01:30:15,880 --> 01:30:21,319
nineteen forties comic book character Mandrake the Magician could create

1355
01:30:21,960 --> 01:30:24,159
something out of nothing, wave his cape and it was

1356
01:30:24,199 --> 01:30:25,039
back into the void.

1357
01:30:25,079 --> 01:30:25,399
Speaker 4: Again.

1358
01:30:26,000 --> 01:30:31,039
Speaker 1: That's the Federal reserve system. Now let's take this and

1359
01:30:31,079 --> 01:30:34,159
break this down. I need to warn you in advance, however,

1360
01:30:34,920 --> 01:30:39,079
that you shouldn't try and make sense out of this,

1361
01:30:42,279 --> 01:30:44,760
because you'll blow a fuse if you think this makes sense.

1362
01:30:44,920 --> 01:30:48,560
Just remember this is your plain old American scam that

1363
01:30:48,600 --> 01:30:52,920
we're talking about here. It's that simple, and I'm going

1364
01:30:52,960 --> 01:30:55,760
to strip away all of the banker terminology and all

1365
01:30:55,800 --> 01:31:00,800
the accounting terminology and use just plain old plotting Engley

1366
01:31:00,920 --> 01:31:06,039
to make it comprehensible. In spite of that, however, I

1367
01:31:06,079 --> 01:31:09,079
want you to know that everything I'm going to tell

1368
01:31:09,119 --> 01:31:12,159
you from a technical point of view is one hundred

1369
01:31:12,199 --> 01:31:17,279
percent accurate in spite of the simplicity of the language. Okay,

1370
01:31:17,479 --> 01:31:20,279
with that by way of preliminary let's get right to

1371
01:31:20,319 --> 01:31:25,239
the Mandrake mechanism itself. It starts with the government side

1372
01:31:25,439 --> 01:31:31,039
of the partnership. It starts in Congress when Congress is

1373
01:31:31,079 --> 01:31:35,520
spending money far and beyond what it takes in in taxes.

1374
01:31:36,760 --> 01:31:41,560
How can Congress spend more money than its income in taxes. Basically,

1375
01:31:41,600 --> 01:31:45,079
what happens is the Congress goes down to the Treasury

1376
01:31:45,640 --> 01:31:49,000
and asks for let's say it's a billion dollars more

1377
01:31:49,079 --> 01:31:53,119
that they need this day, and the Treasury official says,

1378
01:31:53,119 --> 01:31:54,800
you guys got to be kidding. We don't have any

1379
01:31:54,800 --> 01:31:58,720
money here. You spend it all long ago. Everything we

1380
01:31:58,800 --> 01:32:03,439
taken in taxes is life long spent. And Congress says, well,

1381
01:32:03,479 --> 01:32:05,039
we kind of figured that was the case, but we

1382
01:32:05,079 --> 01:32:07,279
thought somebody might have dropped by and left some money.

1383
01:32:08,960 --> 01:32:11,359
They said, we know what we'll do. We'll borrow the

1384
01:32:11,399 --> 01:32:14,000
rest of it. So they go down the street to

1385
01:32:14,039 --> 01:32:17,199
the printing office. I noticed they're not going to print money.

1386
01:32:17,760 --> 01:32:21,920
They're going to print certificates, nice, big fancy certificates with

1387
01:32:21,960 --> 01:32:24,920
borders on the corner and it's an eagle at the

1388
01:32:24,960 --> 01:32:26,920
top and a seal at the bottom, and it'll say

1389
01:32:27,239 --> 01:32:31,760
United States Treasury bond or note or bill depending on

1390
01:32:31,840 --> 01:32:35,119
the length of maturity. And it's so impressive it almost

1391
01:32:35,159 --> 01:32:38,119
looks like money. But if you hold it up the light,

1392
01:32:38,239 --> 01:32:41,760
it really says I owe you. That's all they are.

1393
01:32:42,920 --> 01:32:45,800
And so Congress takes it and it wants the public

1394
01:32:45,840 --> 01:32:49,479
to step forward and loan the money in exchange for

1395
01:32:49,600 --> 01:32:55,720
the IOUs. Sometimes that's called buying bonds. No, you're not

1396
01:32:55,800 --> 01:32:58,920
buying anything. You're loaning money to the government and getting

1397
01:32:58,920 --> 01:33:02,840
an IOU in return. And a lot of people in

1398
01:33:02,880 --> 01:33:07,399
the private sector and institutions are anxious to loan money

1399
01:33:07,399 --> 01:33:10,840
to the government. Why because they have heard that it's

1400
01:33:10,880 --> 01:33:14,560
the best investment you can possibly make, the most secure investment,

1401
01:33:14,840 --> 01:33:18,840
because it is backed by the full faith and credit

1402
01:33:18,920 --> 01:33:25,000
of the United States Government, and that people aren't quite

1403
01:33:25,079 --> 01:33:28,439
sure of what that means, but it sure sounds good,

1404
01:33:28,920 --> 01:33:31,840
and so they lend the money. Well, just in case

1405
01:33:31,880 --> 01:33:34,640
there's anyone here in doubt as to what that means,

1406
01:33:34,760 --> 01:33:38,880
I'd like to explain it to you. The full faith

1407
01:33:38,920 --> 01:33:42,760
and credit of the United States Government means that the

1408
01:33:42,760 --> 01:33:47,279
federal government solemnly promises to pay you back your money

1409
01:33:47,359 --> 01:33:50,920
plus interest. If it has to take everything you've got

1410
01:33:51,000 --> 01:33:53,119
in the form of taxes to do it, it will

1411
01:33:53,159 --> 01:34:01,760
do it. It's a promise to tax you. And people

1412
01:34:01,840 --> 01:34:04,319
won't think this thing through and they think, oh, it's wonderful.

1413
01:34:04,359 --> 01:34:07,560
It's a wonderful investment, and I'm going to get some

1414
01:34:07,640 --> 01:34:12,239
of my money back. Anyway, that's a little side issue.

1415
01:34:13,520 --> 01:34:16,239
The government is able to borrow a tremendous amount of

1416
01:34:16,239 --> 01:34:19,319
money and therefore spend more than it takes in in

1417
01:34:19,399 --> 01:34:24,079
taxes through this process, but never enough. They always need

1418
01:34:24,119 --> 01:34:28,640
more than that. Not to worry, they say. They walk

1419
01:34:28,760 --> 01:34:32,000
further down the street to the Federal Reserve building. Now

1420
01:34:32,039 --> 01:34:34,199
the Fed has been waiting for them, that's one of

1421
01:34:34,239 --> 01:34:37,439
the reasons it was created. They walk in there and

1422
01:34:37,479 --> 01:34:40,199
the Federal Reserve officer opens up his desk drawer, pulls

1423
01:34:40,199 --> 01:34:43,079
out a big checkbook, and he writes a check to

1424
01:34:43,119 --> 01:34:47,840
the United States Treasury for one billion dollars and hands

1425
01:34:47,840 --> 01:34:50,680
it to them. How he need to stop and ask

1426
01:34:50,720 --> 01:34:54,760
a question, where did they get that money? A billion dollars,

1427
01:34:54,840 --> 01:34:56,680
that's a lot of money. Who put the money into

1428
01:34:56,840 --> 01:34:59,039
that into that account for the Federal Reserve so they

1429
01:34:59,079 --> 01:35:02,479
could give it to or to the Treasury? And the

1430
01:35:02,560 --> 01:35:08,760
answer is there is no money there. There's absolutely zero.

1431
01:35:09,600 --> 01:35:15,199
There's just a checkbook. Well, if you and I were

1432
01:35:15,239 --> 01:35:19,800
to do that, we would go to jail. But they

1433
01:35:19,840 --> 01:35:24,760
can do it because Congress wants them to do it. This,

1434
01:35:24,960 --> 01:35:28,239
in fact, is the payoff. This is the benefit to

1435
01:35:28,319 --> 01:35:32,359
the government for being in the partnership. The government can

1436
01:35:32,399 --> 01:35:36,560
go to the Federal Reserve and obtain instant amounts of

1437
01:35:36,680 --> 01:35:39,960
any amount of money they want without having to confront

1438
01:35:39,960 --> 01:35:42,199
the taxpayer and say we're going to raise your taxes

1439
01:35:42,239 --> 01:35:46,199
for this money. Directly. It would be very unpopular if

1440
01:35:46,239 --> 01:35:48,199
Congress had to go to the public and say, you know,

1441
01:35:48,720 --> 01:35:50,640
we have a lot of money we want to take

1442
01:35:50,680 --> 01:35:52,640
from you, folks, and it's going to cost you three

1443
01:35:52,680 --> 01:35:55,439
thousand dollars per family more than it did last year.

1444
01:35:56,840 --> 01:35:58,680
You know how long they'd last in office. So they

1445
01:35:58,800 --> 01:36:02,039
like this mandrake mechanism very well. The public doesn't know

1446
01:36:02,159 --> 01:36:06,239
that it's costing them anything. It's just how it works somehow.

1447
01:36:09,119 --> 01:36:13,239
So this money, this billion dollars, springs into being precisely

1448
01:36:13,279 --> 01:36:17,039
at the instant that the Federal Reserve officer signs the

1449
01:36:17,159 --> 01:36:21,239
check and gives it to the government. Now, let's see

1450
01:36:21,560 --> 01:36:26,560
where the banking cartel benefits from this partnership. We'll go

1451
01:36:26,640 --> 01:36:30,159
back to that billion dollar check and follow it. The

1452
01:36:30,199 --> 01:36:34,800
Treasury official deposits it into the checking account of the

1453
01:36:34,800 --> 01:36:38,720
federal government, and immediately all the computers start to wear

1454
01:36:38,800 --> 01:36:42,039
and the ledgers show that the government now has a

1455
01:36:42,119 --> 01:36:47,399
billion dollar deposit, a billion dollars in its account and

1456
01:36:47,439 --> 01:36:50,039
so therefore it can write checks up to a billion dollars.

1457
01:36:50,600 --> 01:36:56,760
Government checks start flowing. Let's just follow a one hundred

1458
01:36:56,880 --> 01:37:01,000
dollar check. Make this real simple. To the fellow that

1459
01:37:01,279 --> 01:37:04,520
delivers our mail. The postal worker gets one hundred dollars check,

1460
01:37:05,520 --> 01:37:08,479
and he looks at this and he can't imagine in

1461
01:37:08,560 --> 01:37:12,199
his wildest dreams that just two days ago, that money

1462
01:37:12,239 --> 01:37:17,079
didn't exist anywhere in the universe. But it's a government

1463
01:37:17,199 --> 01:37:20,720
check now, and it's very spendable. So he takes it

1464
01:37:20,960 --> 01:37:25,600
and deposits it into his private checking account at the

1465
01:37:25,680 --> 01:37:30,279
local commercial bank. Now this money is out of the

1466
01:37:30,279 --> 01:37:33,720
federal reserve mechanism, per se, out of the government side

1467
01:37:33,800 --> 01:37:37,680
of the partnership, and it gets into the private banking

1468
01:37:37,880 --> 01:37:41,640
side of the partnership. One hundred dollars has been deposited.

1469
01:37:42,560 --> 01:37:46,039
Now the action heats up. The banker looks at that,

1470
01:37:46,079 --> 01:37:47,680
and he goes over to the loan window and he

1471
01:37:47,720 --> 01:37:50,680
opens it up and he says, attention, everybody, we have

1472
01:37:50,880 --> 01:37:54,000
money to loan. And that's good news for a lot

1473
01:37:54,079 --> 01:37:55,840
of people, because that's one of the reasons we go

1474
01:37:55,920 --> 01:37:59,079
to the bank, isn't it to borrow money. So it's

1475
01:37:59,079 --> 01:38:03,199
good news when there's money available, and the banker says,

1476
01:38:03,199 --> 01:38:05,960
we have one hundred dollars deposited. But don't worry, folks,

1477
01:38:06,000 --> 01:38:09,079
we can loan you more than that. We can loan

1478
01:38:09,119 --> 01:38:14,760
you up to nine hundred dollars. Well, how how can

1479
01:38:14,800 --> 01:38:17,119
you loan out up to nine hundred dollars when you

1480
01:38:17,199 --> 01:38:21,439
only have one hundred dollars deposited. Well, it's not difficult

1481
01:38:21,560 --> 01:38:25,439
if you're in the Federal Reserve system. Here's how it works.

1482
01:38:27,319 --> 01:38:30,880
The Federal Reserve says that the member banks must keep

1483
01:38:30,960 --> 01:38:33,600
no less than ten percent of their deposits in reserve.

1484
01:38:35,319 --> 01:38:37,960
So there's one hundred dollars. They keep ten percent in reserve,

1485
01:38:38,039 --> 01:38:41,680
ten dollars, and they can loan up to ninety dollars. Right,

1486
01:38:43,239 --> 01:38:46,119
so we loan it to you, ma'am. You borrowed ninety dollars.

1487
01:38:46,520 --> 01:38:48,800
What do you do with it? Well, you want to

1488
01:38:48,800 --> 01:38:51,680
spend it, So you want to write a check on it.

1489
01:38:51,720 --> 01:38:54,279
You've deposited into your checking account, so you can write

1490
01:38:54,279 --> 01:38:56,960
a check. In many cases, it might be put directly

1491
01:38:56,960 --> 01:39:01,039
into your checking account. But now there's ninety dollars in

1492
01:39:01,079 --> 01:39:03,960
addition to the one hundred dollars that was deposited to

1493
01:39:03,960 --> 01:39:06,800
start this chain. Now we've got the ninety dollars that

1494
01:39:06,880 --> 01:39:10,359
was loaned as another deposit. Well, the Federal Reserve says

1495
01:39:10,399 --> 01:39:12,279
that you only have to keep ten percent. So we

1496
01:39:12,399 --> 01:39:15,279
keep ten percent of the ninety and loan the other

1497
01:39:15,399 --> 01:39:17,800
ninety percent, and the person that borrows that puts it

1498
01:39:17,920 --> 01:39:20,880
right back into the bank is another deposit. Well, the

1499
01:39:20,880 --> 01:39:23,000
Federal Reserve says, you only have to keep ten percent.

1500
01:39:23,079 --> 01:39:26,000
So you know, this goes around and around and around

1501
01:39:26,560 --> 01:39:29,399
to the revolving door until finally the whole action is

1502
01:39:29,439 --> 01:39:32,399
played out. And the bottom line is when that one

1503
01:39:32,439 --> 01:39:36,920
hundred dollars deposit comes in from the postal worker, the

1504
01:39:36,960 --> 01:39:39,680
banks in essence can loan up to nine hundred dollars

1505
01:39:39,720 --> 01:39:43,960
because one hundred dollars is the reserve, and that's ten

1506
01:39:44,000 --> 01:39:47,560
percent of one thousand, so they can loan the balance

1507
01:39:47,760 --> 01:39:51,039
or the difference, which is nine hundred dollars. Now, where

1508
01:39:51,039 --> 01:39:57,640
does that money come from, Well, same place. It springs

1509
01:39:57,640 --> 01:40:02,680
into being, precisely at the point where the loan is made.

1510
01:40:02,880 --> 01:40:08,800
It didn't exist before anywhere. Now I noticed the important

1511
01:40:08,840 --> 01:40:12,720
thing here. The money that's created out of nothing and

1512
01:40:12,760 --> 01:40:17,199
given to the government. The government spends for its purposes.

1513
01:40:18,279 --> 01:40:21,079
But the money that's created out of nothing by the banks,

1514
01:40:21,560 --> 01:40:23,600
is not spent by the banks. It's loan by the

1515
01:40:23,640 --> 01:40:26,560
banks to you and to me, and we pay interest

1516
01:40:26,640 --> 01:40:36,239
on it. Not too shabby interest on nothing. I wish

1517
01:40:36,279 --> 01:40:39,920
I had a magic checkbook like that, where I didn't

1518
01:40:40,000 --> 01:40:43,279
have to have any money, just a checkbook, and I

1519
01:40:43,319 --> 01:40:46,840
could write checks hundred thousand dollars all day long and

1520
01:40:47,239 --> 01:40:50,119
loan them to you folks, and you pay me interest

1521
01:40:50,199 --> 01:40:55,640
on it. You see, not too shabby at all. This,

1522
01:40:55,760 --> 01:41:01,239
in fact, is the payoff to the commercial bank in

1523
01:41:01,279 --> 01:41:09,279
the cartel. This scam has become legitimized by law, and

1524
01:41:09,279 --> 01:41:12,840
we're told it's a wonderful thing. We think our banking

1525
01:41:12,880 --> 01:41:18,720
system is wonderful. But it's a scam. Not only interest

1526
01:41:18,760 --> 01:41:22,239
on nothing, but perpetual interest on nothing. Because notice, once

1527
01:41:22,279 --> 01:41:25,279
this money is created, if you pay it back, they

1528
01:41:25,279 --> 01:41:27,079
have it on their ledger as a credit. They can

1529
01:41:27,119 --> 01:41:28,920
loan it out again to somebody else, and the whole

1530
01:41:28,920 --> 01:41:31,720
object is to keep loaned out. They don't like the

1531
01:41:31,760 --> 01:41:34,479
money not loaned out because you can't earn interest on

1532
01:41:34,520 --> 01:41:38,119
it when it's in the ink. Well, it doesn't do

1533
01:41:38,159 --> 01:41:41,319
them any good to remember, there's nothing here except ink.

1534
01:41:42,319 --> 01:41:46,239
In the well or electronic impulses in the computer. That's

1535
01:41:46,279 --> 01:41:51,479
all there is. So they're collecting interest on that. But

1536
01:41:51,560 --> 01:41:53,479
that's not the end of the process. That is how

1537
01:41:53,520 --> 01:41:56,279
money is created in America. But that's not the end

1538
01:41:56,319 --> 01:42:00,920
of it because it has consequences. What impact does that

1539
01:42:01,000 --> 01:42:05,720
have on us? Are we involved in this in any way? Well,

1540
01:42:05,800 --> 01:42:09,560
yes we are. I've heard people say, see, those fellows

1541
01:42:09,600 --> 01:42:11,600
are really smart. I guess they deserve to be rich,

1542
01:42:13,359 --> 01:42:16,479
as though it didn't affect them in any way. Let's

1543
01:42:16,520 --> 01:42:21,520
follow it. This money that's created out of nothing goes

1544
01:42:21,520 --> 01:42:26,000
into the economy, and it dilutes down the value of

1545
01:42:26,079 --> 01:42:29,439
the dollars that were already out there. It's like pouring

1546
01:42:29,520 --> 01:42:32,880
water into the pot of soup. It dilutes the soup.

1547
01:42:33,880 --> 01:42:37,760
And so the economy is diluted by these new dollars,

1548
01:42:38,279 --> 01:42:41,479
and prices start to go up, or they appear to

1549
01:42:41,479 --> 01:42:47,760
be going up. It's the process called inflation. I say

1550
01:42:47,760 --> 01:42:50,960
a pear to go up, because prices really don't go up,

1551
01:42:51,039 --> 01:42:53,960
ladies and gentlemen. What's happening is that the value of

1552
01:42:54,000 --> 01:42:58,760
the dollar goes down. Right, That's what we're witnessing here.

1553
01:42:59,119 --> 01:43:03,560
If we had a real monetary system, real money backed

1554
01:43:03,560 --> 01:43:08,600
by gold or silver, or anything of tangible value, coffee cups,

1555
01:43:09,520 --> 01:43:13,560
anything that couldn't just be created out of nothing. Behind

1556
01:43:13,640 --> 01:43:17,199
our money, you would find that the purchasing power of

1557
01:43:17,199 --> 01:43:20,520
that money would remain constant over a long period of time.

1558
01:43:21,520 --> 01:43:24,239
And to illustrate that point, it's interesting to know that

1559
01:43:24,479 --> 01:43:28,600
if we had lived in ancient Rome and had a

1560
01:43:28,600 --> 01:43:32,119
one ounce gold coin, we would have been able to

1561
01:43:32,119 --> 01:43:36,479
buy a fine toga, a hand crafted belt, and a

1562
01:43:36,520 --> 01:43:43,000
pair of sandals. That was the price. So today, what

1563
01:43:43,119 --> 01:43:46,640
can we buy with a one ounce gold coin. We

1564
01:43:46,680 --> 01:43:48,720
can walk into any men's store and buy a really

1565
01:43:48,760 --> 01:43:53,199
fine suit, a hand crafted belt, and a pair of shoes.

1566
01:43:56,680 --> 01:43:59,800
The real price of these items hasn't changed in thousands

1567
01:43:59,840 --> 01:44:05,319
of years. One expressed in terms of real money, but

1568
01:44:05,479 --> 01:44:07,960
one expressed in terms of these things we carry around.

1569
01:44:07,960 --> 01:44:11,720
We call them dollars, they're not they're really federal reserve notes.

1570
01:44:12,640 --> 01:44:15,920
They buy less and less and less because they keep

1571
01:44:15,960 --> 01:44:18,319
creating more and more and more of them, and they

1572
01:44:18,359 --> 01:44:24,520
dilute the economic soup. But we still haven't followed this

1573
01:44:24,600 --> 01:44:26,840
to the end of the trail. We've lost some purchasing

1574
01:44:26,920 --> 01:44:30,720
power through this thing called inflation. But how many people

1575
01:44:30,760 --> 01:44:35,199
ask the question who gained it? Did anybody gain our

1576
01:44:35,279 --> 01:44:38,239
lost purchasing power or did it just evaporate and go

1577
01:44:38,319 --> 01:44:42,399
up to heaven somewhere? Somebody gained it, didn't they? But

1578
01:44:42,479 --> 01:44:48,079
we don't know who. Let's follow it. The people who

1579
01:44:48,159 --> 01:44:51,560
gained our lost purchasing power were those who were at

1580
01:44:51,600 --> 01:44:54,760
the point where this fresh money was injected into the

1581
01:44:54,840 --> 01:45:02,319
economic soup. Those at the nozzle at dollars that look

1582
01:45:02,399 --> 01:45:04,159
the same as all the other dollars, and they have

1583
01:45:04,279 --> 01:45:07,079
them first, and they can spend them at full purchasing power.

1584
01:45:07,239 --> 01:45:09,880
But by the time the person who gets those dollars

1585
01:45:09,920 --> 01:45:12,279
then gives them to the next person and the next person,

1586
01:45:12,479 --> 01:45:14,720
it goes out toward the edge of the pot where

1587
01:45:14,800 --> 01:45:17,439
most of us are, and it gets diluted down. But

1588
01:45:17,479 --> 01:45:20,680
the ones up there at the nozzle are the ones

1589
01:45:20,680 --> 01:45:25,560
who have gained our loss purchasing power. Who are they? Well,

1590
01:45:25,600 --> 01:45:28,079
we know that the government is one of them. That's

1591
01:45:28,520 --> 01:45:31,279
where the billion dollar check started, isn't it. That was

1592
01:45:31,319 --> 01:45:33,880
the beginning of this whole process. The government spent that

1593
01:45:34,000 --> 01:45:36,720
money first, and then of course those who work for

1594
01:45:36,720 --> 01:45:38,960
the government and those who have government contracts, and those

1595
01:45:39,000 --> 01:45:41,239
who get grants and so forth get the next wave,

1596
01:45:41,279 --> 01:45:43,640
and they're not doing too bad either. And it starts

1597
01:45:43,640 --> 01:45:47,279
out from there. But what about on the banking side,

1598
01:45:47,520 --> 01:45:52,039
who got that money first off? Well, the people came

1599
01:45:52,119 --> 01:45:55,000
up to the loan window. They were the first ones

1600
01:45:55,039 --> 01:45:58,920
to get it. Now, this comes as no surprise to

1601
01:45:58,960 --> 01:46:01,880
anybody here. I'm sure that in times of inflation it's

1602
01:46:01,880 --> 01:46:04,279
a good thing to borrow. Everybody tells you that because

1603
01:46:04,279 --> 01:46:07,520
you say, you know that you're going to borrow a

1604
01:46:07,600 --> 01:46:11,119
dollar and you pay it back with quarters or fifty

1605
01:46:11,159 --> 01:46:14,159
cent pieces, because inflation erodes the value of those dollars.

1606
01:46:14,199 --> 01:46:17,560
So you know, to borrow is to gain. And the

1607
01:46:17,600 --> 01:46:21,000
people who don't borrow, who save, they're the ones who

1608
01:46:21,079 --> 01:46:26,319
are losing. But notice, however, that this gain that the

1609
01:46:26,359 --> 01:46:28,760
borrower gets, he has to turn right around and give

1610
01:46:28,840 --> 01:46:32,720
to the bank in the form of interest on nothing,

1611
01:46:33,960 --> 01:46:37,079
so he doesn't really gain at all. It appears to

1612
01:46:37,079 --> 01:46:39,640
be gain. It's paper gain, but his gain actually goes

1613
01:46:39,680 --> 01:46:43,920
back to the bank as interest on nothing. Now, yes,

1614
01:46:44,000 --> 01:46:48,640
during times of inflation, his paper assets expand, expand expand. Golly,

1615
01:46:48,680 --> 01:46:50,760
this real estate looks like it's worth a lot of

1616
01:46:50,760 --> 01:46:55,079
money right now. But then the economy contracts and he's

1617
01:46:55,119 --> 01:46:57,920
wiped out. He doesn't have anything. And notice that when

1618
01:46:57,960 --> 01:46:59,600
you go to the bank and you go to borrow

1619
01:46:59,640 --> 01:47:04,640
some of the nothing money, did they expect nothing from

1620
01:47:04,640 --> 01:47:07,840
you in return? No, they want you to sign over

1621
01:47:08,079 --> 01:47:15,720
and pledges collateral, your car, your house, your assets, hard assets,

1622
01:47:15,840 --> 01:47:20,159
not nothing assets. So when the economy contracts and you

1623
01:47:20,199 --> 01:47:23,079
can't continue to make those payments, they get your marbles.

1624
01:47:26,079 --> 01:47:28,279
So the bank will do all right, whether it's expansion

1625
01:47:28,359 --> 01:47:33,279
or contraction. So what's the answer to the question who

1626
01:47:33,319 --> 01:47:37,560
gains who got your lost purchasing power? Big surprise, ladies

1627
01:47:37,640 --> 01:47:41,199
and gentlemen. The two members of the partnership called the

1628
01:47:41,239 --> 01:47:45,680
federal reserve system. It's the government and the members of

1629
01:47:45,720 --> 01:47:49,479
the banking cartel. Those are the ones who got your

1630
01:47:49,920 --> 01:47:55,199
purchasing power. Now they're in a nutshell. Is an overview

1631
01:47:55,239 --> 01:47:58,439
of the Federal reserve system. And I guarantee you, ladies

1632
01:47:58,439 --> 01:48:00,239
and gentlemen, you're not going to read this in any

1633
01:48:00,279 --> 01:48:03,960
textbook on the subject. And I can also tell you

1634
01:48:04,000 --> 01:48:07,439
that you now understand everything there is of importance to

1635
01:48:07,479 --> 01:48:11,960
know about the Federal Reserve system. The payoff on the

1636
01:48:12,000 --> 01:48:14,800
government side is that they're able to tax their people.

1637
01:48:15,159 --> 01:48:18,680
And don't forget, inflation is a tax. You pay it,

1638
01:48:18,720 --> 01:48:22,079
you have no escape. It's a hidden tax, but it's

1639
01:48:22,079 --> 01:48:25,000
a tax just the same. And so the government is

1640
01:48:25,000 --> 01:48:27,439
able to tax the people without them even knowing they're

1641
01:48:27,479 --> 01:48:31,079
paying the tax. And on the banking cartel side, they're

1642
01:48:31,119 --> 01:48:38,279
able to collect perpetual interest on nothing. Now that is

1643
01:48:38,319 --> 01:48:41,239
the end of part one. Stand by, there's.

1644
01:48:41,039 --> 01:48:54,119
Speaker 2: More, ladies and gentlemen. We'll take a five minute break

1645
01:48:55,239 --> 01:49:07,800
and let's keep it.

1646
01:49:11,800 --> 01:49:21,640
Speaker 1: That's it, okay, ladies and gentlemen. I think this is

1647
01:49:21,720 --> 01:49:32,600
a time for continuation. Everyone refreshed. Anybody want to open

1648
01:49:32,680 --> 01:49:44,680
up a bank? All right? Part two we'll go back

1649
01:49:44,680 --> 01:49:48,439
to Jackal Island. We have much to learn there. In fact,

1650
01:49:48,439 --> 01:49:52,159
if we just analyze what happened on Jackal Island, we

1651
01:49:52,239 --> 01:49:55,640
can figure out almost everything that's going on today, even

1652
01:49:55,680 --> 01:49:59,039
though that happened back in nineteen ten. And one of

1653
01:49:59,119 --> 01:50:01,800
the things that they we had to resolve there was

1654
01:50:01,840 --> 01:50:07,159
what to call this creature of theirs. This partnership between

1655
01:50:07,880 --> 01:50:11,520
government and the commercial banks was not new with the

1656
01:50:11,520 --> 01:50:16,119
federal Reserve system. In fact, this concept was created back

1657
01:50:16,159 --> 01:50:20,560
in Europe in the sixteenth century, and it was perfected

1658
01:50:20,600 --> 01:50:24,920
with the Bank of England in sixteen ninety four. This

1659
01:50:25,079 --> 01:50:28,520
is the kind of thing from that date forward that

1660
01:50:28,680 --> 01:50:32,680
all of the governments of Europe adopted. Now they didn't

1661
01:50:32,720 --> 01:50:37,920
call it a Mandrake mechanism like I do. They called

1662
01:50:37,960 --> 01:50:42,840
it a central bank. That's the technical name for this partnership.

1663
01:50:43,319 --> 01:50:45,119
If you want to look this process up in a

1664
01:50:45,159 --> 01:50:50,399
textbook or an encyclopedia, you'll find it listed under central bank.

1665
01:50:51,239 --> 01:50:53,800
So the central banks were created in Europe in the

1666
01:50:53,840 --> 01:50:56,960
sixteenth century. It was a very good reason for that.

1667
01:50:58,239 --> 01:51:02,600
The kings and the princes of Europe discovered from heart

1668
01:51:02,680 --> 01:51:06,359
experience that they could raise the taxes of their subjects

1669
01:51:06,479 --> 01:51:10,560
only so far, and then there was a ceiling. They

1670
01:51:10,600 --> 01:51:12,960
had a tax revolt on their hands, there was resistance,

1671
01:51:13,520 --> 01:51:15,760
and they had real revolution or revolt on their hands,

1672
01:51:15,800 --> 01:51:20,760
and they tended to lose their jobs or their hits.

1673
01:51:22,720 --> 01:51:26,119
So that was it, folks. Forty percent forty three percent

1674
01:51:26,159 --> 01:51:30,680
seems to have been the natural limit. However, once they

1675
01:51:30,720 --> 01:51:34,239
got the central bank mechanism worked out, this was a

1676
01:51:34,279 --> 01:51:37,520
whole new ballgame. Now the lid was off and they

1677
01:51:37,520 --> 01:51:41,239
were able to collect fifty percent, sixty seventy and in

1678
01:51:41,279 --> 01:51:46,079
some cases eighty percent of everything that their subjects produced,

1679
01:51:47,000 --> 01:51:50,520
and their subjects did not revolt, did not resent it,

1680
01:51:50,560 --> 01:51:53,800
even because they didn't know that they were paying this

1681
01:51:54,000 --> 01:51:57,680
tax through a process called inflation. All they knew was

1682
01:51:57,680 --> 01:52:00,720
that the prices were going out of sight, and they

1683
01:52:00,760 --> 01:52:04,720
had no inkling that it was their government, in combination

1684
01:52:04,880 --> 01:52:08,960
with the private banks that were taxing them in this fashion.

1685
01:52:09,840 --> 01:52:13,319
And so see, this became a method of hidden taxation,

1686
01:52:13,520 --> 01:52:17,920
which has continued to this day to be extremely popular

1687
01:52:18,439 --> 01:52:24,039
with big spending governments. And so this became the modus

1688
01:52:24,039 --> 01:52:28,920
operandi in Europe from that date forward. Now, when they

1689
01:52:28,960 --> 01:52:32,039
met on Jekyl Island, it was very clear in their

1690
01:52:32,079 --> 01:52:36,039
mind that they were creating a central bank, but they

1691
01:52:36,079 --> 01:52:38,600
had a problem what to call it, because Congress was

1692
01:52:38,640 --> 01:52:42,079
already on record as saying they did not want a

1693
01:52:42,159 --> 01:52:46,119
central bank in America. I don't think the congressmen really

1694
01:52:46,199 --> 01:52:49,119
understood what that meant, but they had heard the phrase,

1695
01:52:49,159 --> 01:52:51,800
and they knew that that's what they had in Europe,

1696
01:52:52,039 --> 01:52:54,279
and they said, no, when it comes to banking reform

1697
01:52:54,319 --> 01:52:57,680
in America, we want something this unique to represent our

1698
01:52:58,359 --> 01:53:03,039
unique political and economics. So central bank was out. So

1699
01:53:03,079 --> 01:53:04,840
what to call this central bank so that no one

1700
01:53:04,880 --> 01:53:08,840
will know. And they talked about this on Jackal Island,

1701
01:53:09,880 --> 01:53:12,479
and this is what they concluded. They said, first, let's

1702
01:53:12,560 --> 01:53:15,760
use the word federal to make it seem like it's

1703
01:53:15,800 --> 01:53:23,319
a government operation. Secondly, let's add the word reserve to

1704
01:53:23,359 --> 01:53:26,880
make it seem like they are reserved somewhere, like it

1705
01:53:27,000 --> 01:53:32,560
was a banking concept. Third let's add the word system.

1706
01:53:33,359 --> 01:53:37,039
This was very important, far more than we might think today,

1707
01:53:37,079 --> 01:53:42,079
because remember, the major concern was this concentration of financial

1708
01:53:42,119 --> 01:53:44,760
power in New York. And they had to sell the

1709
01:53:44,800 --> 01:53:48,079
American people on the idea that this was a diffusion

1710
01:53:48,159 --> 01:53:52,359
of power over a system of banks. And so they

1711
01:53:52,399 --> 01:53:56,039
talked about ten regional banks, and finally they said, no,

1712
01:53:56,079 --> 01:53:59,600
that's not enough. We'll have twelve regional banks and diffuse

1713
01:53:59,680 --> 01:54:01,880
the power away from New York, or at least make

1714
01:54:01,920 --> 01:54:05,600
it appear that way. And they'll build those big buildings

1715
01:54:05,600 --> 01:54:08,479
in all these regions, and the local yocles can come

1716
01:54:08,520 --> 01:54:10,720
and look at the buildings and say, golly, we got

1717
01:54:10,760 --> 01:54:15,000
one of them out here too, And the impression was

1718
01:54:15,039 --> 01:54:18,840
that because these buildings were out there, that the power

1719
01:54:18,960 --> 01:54:22,600
was pulled away from New York and diffused throughout a

1720
01:54:22,720 --> 01:54:27,560
system of federal reserve banks. Well, as you've heard said

1721
01:54:27,560 --> 01:54:29,960
many times by now, what we wound up with was

1722
01:54:30,279 --> 01:54:34,520
not federal There are no reserves. It's not a system

1723
01:54:34,600 --> 01:54:37,520
at all in the sense of diffusion of power. And

1724
01:54:37,600 --> 01:54:43,079
the federal reserve banks aren't even banks. So on all

1725
01:54:43,119 --> 01:54:48,039
four words, we're dealing with appearances of the fourth kind.

1726
01:54:49,560 --> 01:54:54,199
Brilliant strategy. The next step was to sell this creature

1727
01:54:54,239 --> 01:54:58,039
to the American people, and the first draft of the

1728
01:54:58,039 --> 01:55:03,840
Federal Reserve Act was called the Aldridge Bill, sponsored by

1729
01:55:03,880 --> 01:55:06,840
Senator Aldridge, of course, and this was against the good

1730
01:55:06,840 --> 01:55:10,239
advice of Paul Warburg, who said, Nelson, if you put

1731
01:55:10,279 --> 01:55:12,520
your name on this bill, it's going to get voted

1732
01:55:12,520 --> 01:55:15,520
down in Congress because you are so closely identified with

1733
01:55:15,640 --> 01:55:21,399
the power of big business. It'll be voted down. And

1734
01:55:21,439 --> 01:55:25,680
apparently Aldridge's ego was too big. He must have said, well, no,

1735
01:55:25,840 --> 01:55:28,359
after all, I'm respected in the Senate, and i am

1736
01:55:28,399 --> 01:55:32,279
the chairman of the National Monetary Commission, And for whatever

1737
01:55:32,319 --> 01:55:34,680
reason he insisted on having his name on it. I

1738
01:55:34,720 --> 01:55:38,479
think he wanted to go down in history as the

1739
01:55:38,520 --> 01:55:43,680
originator of the federal reserve system. But Warburg was right

1740
01:55:44,920 --> 01:55:47,960
voted down thumbs down right away because he was a

1741
01:55:48,000 --> 01:55:52,359
representative of big business. Well, this was a minor setback.

1742
01:55:53,560 --> 01:55:56,840
They took their bill, they scrambled the paragraphs around a

1743
01:55:56,880 --> 01:56:00,319
little bit, they took Aldridge's name off of it, and

1744
01:56:00,399 --> 01:56:03,920
found a couple of Democrats to sponsor the bill. Now

1745
01:56:03,920 --> 01:56:07,600
this was different. See, Aldridge was a Republican, and everyone

1746
01:56:07,680 --> 01:56:12,079
knew that the Republicans represented big business. But they also

1747
01:56:12,199 --> 01:56:17,880
knew that the Democrats represented the common man, the little guy,

1748
01:56:17,880 --> 01:56:28,800
the fellow on the assembly line, like Ted Kennedy. So

1749
01:56:29,079 --> 01:56:32,600
they found a couple of millionaire Democrats to sponsor the bill.

1750
01:56:33,000 --> 01:56:37,359
They got Carter Glass from the House and Senator Robert Owen,

1751
01:56:37,960 --> 01:56:42,760
who was a very successful banker. And now they sponsored

1752
01:56:42,800 --> 01:56:45,159
the bill of the Glass Owen bill. And this was different.

1753
01:56:45,479 --> 01:56:47,960
This was a Democrat bill, and it began to receive

1754
01:56:48,159 --> 01:56:54,119
very popular consideration in Congress. Next, Aldridge and Vanderlipt began

1755
01:56:54,279 --> 01:56:59,560
to give speeches and statements to the press condemning the

1756
01:56:59,600 --> 01:57:05,479
bill that they had written. They said, this will ruin

1757
01:57:05,520 --> 01:57:09,239
the banks, this will be terrible for the nation. And

1758
01:57:09,279 --> 01:57:11,760
by the time this was printed in the newspapers, the

1759
01:57:11,800 --> 01:57:14,960
average person read that and said Oh, I guess the

1760
01:57:14,960 --> 01:57:17,520
big bankers don't like this bill very much. It must

1761
01:57:17,520 --> 01:57:22,079
be pretty good. You know. You have to give these

1762
01:57:22,119 --> 01:57:26,720
people credit. They were not stupid. They didn't get to

1763
01:57:26,760 --> 01:57:32,319
be where they were through stupidity. They understood mass psychology,

1764
01:57:32,359 --> 01:57:40,199
they understood politics, and they played their cards exceedingly well. Next,

1765
01:57:40,279 --> 01:57:43,319
the same individuals who were condemning the bill were privately

1766
01:57:43,319 --> 01:57:48,199
financing it. They were behind all the lobbying activities in Washington.

1767
01:57:48,960 --> 01:57:52,439
They personally paid for the creation of what was called

1768
01:57:52,600 --> 01:57:55,800
grassroots study clubs that came up all over the country,

1769
01:57:56,079 --> 01:58:00,159
held public meetings and disseminated brochures extolling the virtue of

1770
01:58:00,199 --> 01:58:04,079
the Federal Reserve Act. They gave large amounts of money

1771
01:58:04,079 --> 01:58:07,800
to some of the better known universities and created new

1772
01:58:07,840 --> 01:58:12,680
departments of economics. Hen picked their own people to be

1773
01:58:12,760 --> 01:58:16,600
the professors to chair those departments, and then those men

1774
01:58:17,079 --> 01:58:20,399
began to speak publicly and write scholarly essays about how

1775
01:58:20,439 --> 01:58:25,479
wonderful the Federal Reserve system was. And then, at the

1776
01:58:25,520 --> 01:58:29,520
insistence of Paul Warburg, who was always the master strategist

1777
01:58:29,560 --> 01:58:35,760
in this, they added several good provisions to the Act.

1778
01:58:35,800 --> 01:58:39,640
When I say good, I mean provisions which restricted the

1779
01:58:39,680 --> 01:58:42,239
power of the Federal Reserve system to create money out

1780
01:58:42,279 --> 01:58:46,039
of nothing, the kind of provisions you and I might

1781
01:58:46,079 --> 01:58:51,079
have endorsed. And Warburg's associates said, Paul, what are you doing.

1782
01:58:51,119 --> 01:58:53,520
We don't want those things in there. This is our bill.

1783
01:58:54,159 --> 01:58:58,760
And his response was classic. He said, relax, fellows, don't

1784
01:58:58,800 --> 01:59:01,600
you get it. Our object here is to get the

1785
01:59:01,640 --> 01:59:08,000
bill passed. We can fix it up later. That's exactly

1786
01:59:08,039 --> 01:59:11,960
what he said. When no one is looking, everyone is

1787
01:59:11,960 --> 01:59:15,479
focusing on the bill. Now, let's get it in fix

1788
01:59:15,520 --> 01:59:17,479
it up later. And indeed he was right. It was

1789
01:59:17,520 --> 01:59:21,079
because of provisions such as those that they won over

1790
01:59:21,119 --> 01:59:24,399
the support of William Jennings Bryan, who was the leader

1791
01:59:24,439 --> 01:59:27,800
of the populist movement, a real defender of the common

1792
01:59:27,840 --> 01:59:30,880
man in his mind at least. He looked at that bill,

1793
01:59:30,920 --> 01:59:33,279
and previously he had opposed it because he said it

1794
01:59:33,319 --> 01:59:35,520
was the bill of the bankers. They would create money

1795
01:59:35,520 --> 01:59:38,479
out of nothing, he said. And he looked at those

1796
01:59:38,479 --> 01:59:40,920
provisions and he said, oh, well, I guess with those

1797
01:59:40,960 --> 01:59:45,399
in there, I can support the bill. And with the

1798
01:59:45,479 --> 01:59:50,439
elimination of his opposition, the road was cleared, and it

1799
01:59:50,600 --> 01:59:55,439
was inevitable. What would happen. They did fix it up later.

1800
01:59:57,439 --> 01:59:59,720
Since the Federal Reserve Act was passed, it has been

1801
01:59:59,720 --> 02:00:05,640
a over one hundred times, and nobody has noticed. All

1802
02:00:05,720 --> 02:00:10,119
of those original provisions which were sound, were long ago removed,

1803
02:00:10,479 --> 02:00:13,840
and many many more have been added which greatly expand

1804
02:00:13,880 --> 02:00:16,680
the power and reach of the Federal Reserve system. A

1805
02:00:16,720 --> 02:00:20,079
big bunch was added back in nineteen eighty. It just

1806
02:00:20,199 --> 02:00:23,319
extends the power of the federal government to areas that

1807
02:00:23,359 --> 02:00:26,239
you can't even imagine. We're talking previously about being able

1808
02:00:26,279 --> 02:00:29,199
to create money out of government debt, American government debt,

1809
02:00:29,520 --> 02:00:32,880
they can now create it out of foreign debt any

1810
02:00:32,920 --> 02:00:36,479
country in the world. Any country in the world can

1811
02:00:36,520 --> 02:00:40,279
offer a bond an IOU, and our federal Reserve system

1812
02:00:40,319 --> 02:00:46,039
is now empowered by law to convert that into American money.

1813
02:00:46,800 --> 02:00:49,600
Even corporate debt, they can convert that into American money.

1814
02:00:49,880 --> 02:00:54,279
There's no limit whatsoever, and nobody has noticed. So Warburg

1815
02:00:54,399 --> 02:01:01,199
was right. They fixed it up later, and surprising therefore,

1816
02:01:01,560 --> 02:01:06,880
no surprise therefore that with this kind of professional deception

1817
02:01:07,720 --> 02:01:11,680
and strategy that a great deal of support was gained

1818
02:01:11,680 --> 02:01:14,720
for the bill, And on December twenty second, nineteen thirteen,

1819
02:01:14,760 --> 02:01:17,800
it was passed into law and signed into law the

1820
02:01:17,840 --> 02:01:22,119
next day by President Wilson, and the creature from Jekyl

1821
02:01:22,119 --> 02:01:27,680
Island finally moved into Washington, d C. Well what did

1822
02:01:27,720 --> 02:01:30,079
we get? Let's stand back from the creature now a

1823
02:01:30,079 --> 02:01:35,239
few paces and survey its general form. We got a

1824
02:01:35,279 --> 02:01:41,279
corporation chartered by Congress which was given an exclusive franchise

1825
02:01:41,840 --> 02:01:48,239
to create the nation's money. We got a mechanism whereby

1826
02:01:48,359 --> 02:01:52,079
Congress has been able to raise unlimited amounts of taxes

1827
02:01:52,560 --> 02:01:56,840
through inflation without the American people even knowing that they're

1828
02:01:56,840 --> 02:02:01,159
paying the tax. And we got a mechanism whereby the

1829
02:02:01,199 --> 02:02:07,560
banks can earn perpetual interest on nothing. I'd like to

1830
02:02:07,560 --> 02:02:10,560
turn our attention now to an intriguing question, which is

1831
02:02:10,840 --> 02:02:14,399
who owns the Federal Reserve System. You often hear this

1832
02:02:14,520 --> 02:02:18,880
topic discussed on talk radio. Whenever the subject of money

1833
02:02:19,000 --> 02:02:21,640
or the Federal Reserve comes up, Inevitably somebody will get

1834
02:02:21,640 --> 02:02:23,680
on the telephone and say, did you know that the

1835
02:02:23,680 --> 02:02:26,399
Federal Reserve System is not a government agency at all.

1836
02:02:26,720 --> 02:02:29,359
It's a private corporation. It's run by the private banks.

1837
02:02:29,359 --> 02:02:31,359
And what we need to do, they'll say, is to

1838
02:02:31,439 --> 02:02:35,000
abolish the abolish the fed and turn it over to

1839
02:02:35,039 --> 02:02:38,119
Congress so it can be run for the benefit of

1840
02:02:38,159 --> 02:02:42,560
the people. Well, I'd like to deal with that because

1841
02:02:44,199 --> 02:02:51,199
this involves a half truth and a non solution. Let's

1842
02:02:51,199 --> 02:02:55,680
start with the half truth. First. It is true that

1843
02:02:55,720 --> 02:02:59,479
the Federal Reserve System is not any of the federal government.

1844
02:03:01,520 --> 02:03:06,680
As I mentioned before, it is a corporation chartered by Congress,

1845
02:03:06,720 --> 02:03:10,239
and like all corporations, it has stock certificates, and these

1846
02:03:10,279 --> 02:03:13,880
certificates are held, in this case by the member banks

1847
02:03:14,279 --> 02:03:18,239
within the system. All the banks, remember this is a cartel.

1848
02:03:19,079 --> 02:03:23,760
Independently owned banks make up this system. They hold the

1849
02:03:23,760 --> 02:03:29,039
stock certificates. Now, up to that point, it looks as

1850
02:03:29,079 --> 02:03:32,960
though this has all the attributes of a privately held corporation.

1851
02:03:33,760 --> 02:03:36,680
But that's as far as it goes, because these stock

1852
02:03:36,720 --> 02:03:41,760
certificates do not carry with them any of the powers

1853
02:03:41,800 --> 02:03:47,119
of private ownership. For example, the holders of these stock

1854
02:03:47,199 --> 02:03:52,319
certificates cannot sell them. Well, if you can't sell something,

1855
02:03:52,439 --> 02:03:55,159
you don't really own it, because that's one of the

1856
02:03:55,239 --> 02:03:58,159
tests of ownership, is your freedom to dispose of it

1857
02:03:58,199 --> 02:04:03,039
in any way you wish. Also, the larger banks have

1858
02:04:03,119 --> 02:04:06,039
put up more capital into the system than the smaller banks.

1859
02:04:06,159 --> 02:04:07,960
It's not a lot of money, but it's related to

1860
02:04:08,000 --> 02:04:11,720
their assets. The larger banks put up more, have more

1861
02:04:11,760 --> 02:04:16,000
stock certificates than the smaller banks. And yet, regardless of that,

1862
02:04:16,119 --> 02:04:19,479
all of the banks have one vote. So there's another

1863
02:04:19,560 --> 02:04:24,880
violation of the principle of private ownership. Furthermore, that vote

1864
02:04:25,239 --> 02:04:31,000
doesn't buy anything of substance. These banks cannot vote for

1865
02:04:31,079 --> 02:04:35,720
their national management. The Federal Reserve System is run by

1866
02:04:35,760 --> 02:04:38,479
the Board of Directors of the Federal Reserve System, the

1867
02:04:38,560 --> 02:04:41,520
National Board and its chairman, all of whom are appointed

1868
02:04:41,520 --> 02:04:46,159
by the President. The stock certificate holders have no voice

1869
02:04:46,199 --> 02:04:50,279
in that whatsoever. The only thing they can vote for

1870
02:04:50,640 --> 02:04:53,600
are the members of the board of their local regional

1871
02:04:53,640 --> 02:04:59,600
banks so called banks. But guess what. The chairman and

1872
02:04:59,680 --> 02:05:04,359
the chairman of those regional banks are appointed by the

1873
02:05:04,439 --> 02:05:09,880
National Board. Guess what. They can vote for their officers

1874
02:05:09,880 --> 02:05:13,680
of the regional banks. But they can be overridden. The

1875
02:05:13,800 --> 02:05:18,600
National Board has veto power over those people. You get

1876
02:05:18,680 --> 02:05:22,159
the picture here. In spite of this sales job, of

1877
02:05:22,199 --> 02:05:25,640
this diffusion of power over the twelve regional banks, these

1878
02:05:25,680 --> 02:05:28,560
banks have no power at all. It's all concentrated in

1879
02:05:28,600 --> 02:05:35,920
the National Board. The only thing that the regional banks

1880
02:05:35,920 --> 02:05:40,640
can do, according to their charters of any substance is

1881
02:05:40,720 --> 02:05:45,640
to set the interest rates within their regions. But guess what,

1882
02:05:46,439 --> 02:05:49,600
even that is subject to veto by the National Board.

1883
02:05:50,479 --> 02:05:53,840
So you come to the conclusion that these people at

1884
02:05:53,840 --> 02:05:56,680
the National Board are not authorized to do anything except

1885
02:05:56,680 --> 02:06:02,079
play golf. See that's the way it was designed. This

1886
02:06:02,279 --> 02:06:05,840
fiction of this diffusion of power throughout the system was

1887
02:06:05,920 --> 02:06:09,079
just to sell it to the American people in nineteen thirteen.

1888
02:06:09,119 --> 02:06:13,199
It's a vestige. It serves no function whatsoever today at all,

1889
02:06:13,239 --> 02:06:16,920
and was never designed to. So we don't have a

1890
02:06:17,039 --> 02:06:19,840
corporation in the strict sense of the word, a privately

1891
02:06:19,880 --> 02:06:24,520
held corporation, and we don't have a government agency in

1892
02:06:24,560 --> 02:06:28,399
the strict sense of the word. So what do we have. Well,

1893
02:06:28,399 --> 02:06:31,399
the fact is we have hybrid. It's a mixture. It's

1894
02:06:31,439 --> 02:06:34,760
half government and it's half private. It is, in fact,

1895
02:06:34,840 --> 02:06:39,279
exactly what you would expect it to be, considering that

1896
02:06:39,399 --> 02:06:44,680
it is a partnership between the government and a private cartel.

1897
02:06:45,359 --> 02:06:48,520
It's half government and it's half private. So this structure

1898
02:06:48,600 --> 02:06:53,920
is unique to reflect its unique form. But this isn't

1899
02:06:53,920 --> 02:06:57,039
so important as to who owns it. How many shares

1900
02:06:57,079 --> 02:06:59,479
of stock and what the voting is. The question is

1901
02:06:59,720 --> 02:07:04,039
what does it do in so far as merely abolishing

1902
02:07:04,039 --> 02:07:07,159
the FED, asny some people have said. Many people have said,

1903
02:07:07,600 --> 02:07:09,680
abolish the FED and turn it over to the Treasury,

1904
02:07:09,720 --> 02:07:11,680
or turn it over to Congress so it can be

1905
02:07:11,760 --> 02:07:15,560
run for the benefit of the people. Always make sure

1906
02:07:15,600 --> 02:07:20,560
you say it's for the people, and that makes it okay.

1907
02:07:20,640 --> 02:07:22,680
It would do the same thing over there that it

1908
02:07:22,720 --> 02:07:26,239
does over here. It's not a question of who owns it,

1909
02:07:26,239 --> 02:07:28,399
it's what does it do. And as long as it

1910
02:07:28,520 --> 02:07:32,199
is a central bank, which means as long as it

1911
02:07:32,279 --> 02:07:35,560
has the power and the mandate to create money out

1912
02:07:35,600 --> 02:07:38,880
of nothing, that's what it's going to do. It's going

1913
02:07:38,880 --> 02:07:41,560
to create money out of nothing. And I'm sure the

1914
02:07:41,600 --> 02:07:43,760
same people will run it over there that run it

1915
02:07:43,760 --> 02:07:49,840
over here. We must remember that all of the central

1916
02:07:49,880 --> 02:07:54,680
banks of Europe are in fact direct agencies of their

1917
02:07:54,720 --> 02:07:58,800
respective governments. They are not these hybrid organizations over there

1918
02:07:58,960 --> 02:08:01,680
that they are here. Because there was no necessity to

1919
02:08:01,720 --> 02:08:05,199
create that myth over there. They just went right for it.

1920
02:08:05,199 --> 02:08:08,039
It's an agency of the government over there, and they

1921
02:08:08,119 --> 02:08:12,279
all do exactly the same thing as our federal Reserve

1922
02:08:12,359 --> 02:08:15,960
system does here. So you see, just turning it over

1923
02:08:16,000 --> 02:08:19,479
to Congress without taking away its power to create money

1924
02:08:19,520 --> 02:08:23,520
out of nothing is a non solution. And I'm sure

1925
02:08:23,560 --> 02:08:26,520
that the people who run this would would be willing

1926
02:08:26,640 --> 02:08:29,800
to use the same kind of deception they did back

1927
02:08:29,840 --> 02:08:32,520
when it was created. They would pretend to resist that idea,

1928
02:08:33,119 --> 02:08:35,800
They would fight it with all of their might, at

1929
02:08:35,920 --> 02:08:39,760
least in public, knowing that they could yield on that

1930
02:08:39,800 --> 02:08:41,760
and have it turned over to the Congress and they'd

1931
02:08:41,800 --> 02:08:47,239
still have control over it over it. So that is

1932
02:08:47,279 --> 02:08:52,119
a non solution. I'd like to talk now about what

1933
02:08:52,159 --> 02:08:54,680
the objectives of the Federal Reserve System are, because if

1934
02:08:54,720 --> 02:08:56,680
we're going to say it's going to if it were

1935
02:08:56,720 --> 02:08:59,399
turned over to Congress, it would pursue the same agenda.

1936
02:08:59,479 --> 02:09:04,119
What is that That agenda? Extremely important thing to focus

1937
02:09:04,159 --> 02:09:07,119
on because we're told that the purpose of the Fed

1938
02:09:07,199 --> 02:09:11,760
is to stabilize the economy, and everybody kind of believes that.

1939
02:09:12,920 --> 02:09:15,840
I mean, when Greenspan comes on and says, well, we're

1940
02:09:15,920 --> 02:09:20,920
raising interest rates, now, why to stabilize the economy, right,

1941
02:09:21,319 --> 02:09:24,439
to prevent inflation? In other words, to protect you, folks,

1942
02:09:25,760 --> 02:09:33,760
to protect you, and we buy it. Well, one of

1943
02:09:33,800 --> 02:09:37,680
the most widely used textbooks in our schools right now,

1944
02:09:38,880 --> 02:09:42,600
textbook on economics, written by Paul Samuelson, explains it this way.

1945
02:09:43,399 --> 02:09:46,319
It says, quote, the federal reserves sprang from the Panic

1946
02:09:46,359 --> 02:09:50,279
of nineteen oh seven, with its alarming epidemic of bank failures.

1947
02:09:51,399 --> 02:09:53,880
The country was fed up once and for all with

1948
02:09:54,000 --> 02:09:59,399
the anarchy of unstable private banking. It's partly true, It's

1949
02:09:59,439 --> 02:10:03,640
just they came up with the wrong solution. Just because

1950
02:10:03,640 --> 02:10:06,079
there's a problem doesn't mean that any old solution that

1951
02:10:06,159 --> 02:10:08,880
somebody has to offer is the best. In fact, it

1952
02:10:08,920 --> 02:10:11,760
may be a non solution. As we were talking about,

1953
02:10:11,840 --> 02:10:14,319
just turning the system over to the government to run

1954
02:10:14,880 --> 02:10:18,439
is a non solution. Well, let's take a look at this.

1955
02:10:19,359 --> 02:10:22,399
If the purpose of the federal reserve system is to

1956
02:10:22,439 --> 02:10:26,239
stabilize the economy, let's give it a report card. Let

1957
02:10:26,279 --> 02:10:30,199
me see how well it's done. Since it was formed.

1958
02:10:30,680 --> 02:10:33,960
It has presided over the crashes of nineteen twenty one

1959
02:10:34,159 --> 02:10:38,680
and nineteen twenty nine, the Great Depression of twenty nine

1960
02:10:38,760 --> 02:10:44,079
through thirty nine, recessions in the years fifty three, fifty seven,

1961
02:10:44,439 --> 02:10:49,920
sixty nine, seventy five and eighty one, a stock market

1962
02:10:49,960 --> 02:10:54,279
black Monday in eighty seven. We all know that corporate

1963
02:10:54,359 --> 02:10:58,399
debt is soaring. Personal debt is greater than ever before.

1964
02:10:59,640 --> 02:11:04,079
Business and personal bankruptcies are at an all time high.

1965
02:11:05,000 --> 02:11:08,359
Banks and savings and loan associations have failed at a

1966
02:11:08,439 --> 02:11:12,640
rate greater than ever before in our history. Interest on

1967
02:11:12,720 --> 02:11:16,039
the national debt is now consuming half of all of

1968
02:11:16,039 --> 02:11:22,199
our taxes. Heavy industry has been largely replaced by overseas competition.

1969
02:11:23,319 --> 02:11:26,399
We're facing an international trade deficit for the first time

1970
02:11:26,439 --> 02:11:30,640
in our history. Seventy five percent of downtown Los Angeles

1971
02:11:30,640 --> 02:11:34,319
and other large metropolitan areas are now owned by foreigners,

1972
02:11:35,399 --> 02:11:38,359
and over half of the nation right now is officially

1973
02:11:38,479 --> 02:11:43,680
in a state of recession. Now, that is the report

1974
02:11:43,760 --> 02:11:47,760
card of the Federal Reserve system after eighty years of

1975
02:11:47,760 --> 02:11:53,199
stabilizing the economy. And I don't think it's even controversial

1976
02:11:53,279 --> 02:11:56,920
to say that the Federal Reserve has failed to meet

1977
02:11:57,319 --> 02:12:02,800
its stated objectives. Controversial question is why has it failed?

1978
02:12:03,319 --> 02:12:05,520
And my answer to that is because those have never

1979
02:12:05,560 --> 02:12:11,000
been its true objectives at all. What are its true objectives? Well,

1980
02:12:11,000 --> 02:12:16,239
what are the objectives of any cartel to make money,

1981
02:12:16,560 --> 02:12:19,399
to enhance the profit margins or the members of the

1982
02:12:19,439 --> 02:12:23,239
cartel and to stabilize its position in the marketplace to

1983
02:12:23,279 --> 02:12:27,960
prevent competition. Those are the objectives of any cartel, and

1984
02:12:28,079 --> 02:12:31,520
if our analysis is correct here, we'll find that this,

1985
02:12:31,800 --> 02:12:34,680
in fact has been what the Federal Reserve System has

1986
02:12:34,720 --> 02:12:40,800
accomplished for itself and its component members. To be more specific,

1987
02:12:40,880 --> 02:12:44,000
it's possible to go to the period of Jackyal Island

1988
02:12:44,079 --> 02:12:49,039
and read the papers and speeches that were done by

1989
02:12:49,079 --> 02:12:52,520
the people on Jackal Island and their associates. The big

1990
02:12:52,600 --> 02:12:56,800
banks were concerned over three things. Among other things, but

1991
02:12:56,880 --> 02:13:00,239
the three main things were as follows. They said they

1992
02:13:00,319 --> 02:13:03,920
wanted to reverse the erosion of their power away from

1993
02:13:04,000 --> 02:13:07,800
New York. That's right, just the opposite of what the

1994
02:13:07,800 --> 02:13:11,760
Federal Reserve System was supposed to accomplish. They wanted to

1995
02:13:11,880 --> 02:13:15,560
keep it in New York. They were concerned because as

1996
02:13:15,560 --> 02:13:19,439
the nation was spreading westward and southward, new banks were

1997
02:13:19,479 --> 02:13:22,680
springing up all over the frontier, and more and more

1998
02:13:22,760 --> 02:13:25,279
of the capital assets of the nation were moving in

1999
02:13:25,319 --> 02:13:28,800
that direction. Yes, they still had the lion's share, but

2000
02:13:29,000 --> 02:13:31,760
every year the percentages went down a little bit, and

2001
02:13:31,840 --> 02:13:35,239
they could see where that chart was going, and they said,

2002
02:13:35,279 --> 02:13:37,880
we must put a stop to this now while we

2003
02:13:38,039 --> 02:13:42,560
still have power. Remember John D. Rockefeller said it, competition

2004
02:13:42,720 --> 02:13:47,800
is a sin, and competition from the new banks in

2005
02:13:47,880 --> 02:13:52,600
America was something that had to be stopped. See, one

2006
02:13:52,640 --> 02:13:54,840
of the purposes of the Federal Reserve system was to

2007
02:13:54,920 --> 02:13:58,159
control the competition from the new banks. And this is

2008
02:13:58,199 --> 02:14:01,439
a good place to emphasize that I'm talking about the cartel.

2009
02:14:02,399 --> 02:14:05,880
I'm primarily talking about the big banks in New York

2010
02:14:06,119 --> 02:14:09,079
that created it, and the international banks as well, the

2011
02:14:09,079 --> 02:14:13,560
ones in Europe. I'm not talking about your bank down

2012
02:14:13,560 --> 02:14:16,560
the street that ever since the system was created, has

2013
02:14:16,600 --> 02:14:20,079
struggled and struggled under the regulations of the system, which

2014
02:14:20,119 --> 02:14:24,079
were designed primarily to some extent to squeeze the competition

2015
02:14:24,159 --> 02:14:28,079
out or to keep it in its place. And you've

2016
02:14:28,119 --> 02:14:30,840
seen that process going on throughout the years. We have

2017
02:14:30,920 --> 02:14:33,479
fewer and fewer banks, all the time, little ones getting

2018
02:14:33,479 --> 02:14:38,479
gobbled at by the big banks. So that was objective

2019
02:14:38,560 --> 02:14:43,039
number one. Number two. They wanted to reverse the trend

2020
02:14:43,439 --> 02:14:47,920
of what is called private capital formation. What that means

2021
02:14:47,960 --> 02:14:51,359
is simply, this means that people in those days were

2022
02:14:51,479 --> 02:14:54,239
using their own savings instead of going to the bank

2023
02:14:54,319 --> 02:15:00,000
and borrowing. Corporations in particular, found that it was better

2024
02:15:00,199 --> 02:15:02,840
for them to withhold some of the dividends from their

2025
02:15:02,880 --> 02:15:06,640
stockholders each quarter, put that money into a sinking fund,

2026
02:15:07,079 --> 02:15:10,880
let it accumulate, or let the capital form, as they say,

2027
02:15:10,880 --> 02:15:14,960
capital formation, and then use their own money to build

2028
02:15:15,000 --> 02:15:18,720
the new factory or launch a research and development project

2029
02:15:18,800 --> 02:15:22,079
or whatever, instead of going to the banks. And the

2030
02:15:22,119 --> 02:15:27,079
banks were extremely concerned over this trend. They racked their brains.

2031
02:15:27,159 --> 02:15:29,479
How do we get businesses to come back to the

2032
02:15:29,520 --> 02:15:34,640
banks and borrow money again? And their answer was quite simple.

2033
02:15:34,680 --> 02:15:36,359
If you were a banker, you would know how to

2034
02:15:36,359 --> 02:15:41,439
do that. The answer is to lower interest rates, to

2035
02:15:41,520 --> 02:15:44,079
make those rates so attractive that you'd be crazy not

2036
02:15:44,119 --> 02:15:46,000
to go to the bank and borrow the money. At

2037
02:15:46,079 --> 02:15:51,840
those interest rates. It's so much easier than saving. Well,

2038
02:15:51,840 --> 02:15:55,319
why didn't they just lower interest rates? Because that was

2039
02:15:55,399 --> 02:16:00,279
nineteen thirteen, ladies and gentlemen, and they couldn't. It was

2040
02:16:00,279 --> 02:16:02,399
real money in those days. It was backed by gold

2041
02:16:02,399 --> 02:16:05,319
and silver. There was no lever on it, no men,

2042
02:16:05,399 --> 02:16:09,479
no group of men, no politicians, no bankers could arbitrarily

2043
02:16:09,520 --> 02:16:14,520
affect interest rates. Because it was backed by gold and silver.

2044
02:16:14,600 --> 02:16:16,399
The money was and they couldn't just create it out

2045
02:16:16,439 --> 02:16:19,319
of nothing. You see, under those conditions, interest rates are

2046
02:16:19,359 --> 02:16:24,199
the product of the forces of supply and demand. In

2047
02:16:24,279 --> 02:16:29,319
a free market economy, nobody has control over it. And

2048
02:16:29,359 --> 02:16:32,639
that's why the politicians hate money that's backed by gold

2049
02:16:32,639 --> 02:16:37,440
and silver. They cannot manipulate it. So their challenge was,

2050
02:16:37,559 --> 02:16:41,319
how can we artificially depress the interest rates below the

2051
02:16:41,399 --> 02:16:45,520
natural level that's produced in the free market. And the

2052
02:16:45,559 --> 02:16:49,719
solution was they said the nation needed what was called

2053
02:16:49,799 --> 02:16:53,600
a flexible currency. They said, this is what industry needed

2054
02:16:54,239 --> 02:16:59,520
to prosper by flexible currency. You still hear that phrase today,

2055
02:17:00,200 --> 02:17:02,959
the virtues of a flexible currency. Well, what is a

2056
02:17:02,959 --> 02:17:06,040
flexible currency? You need a dictionary. Well, it's not paper

2057
02:17:06,079 --> 02:17:12,680
money that folds. What that means is money created out

2058
02:17:12,680 --> 02:17:16,559
if nothing. That's what a flexible currency is. See, the

2059
02:17:16,600 --> 02:17:20,760
trick is not particularly hard to figure out here. If

2060
02:17:20,799 --> 02:17:25,079
you are creating money out of nothing, you don't have

2061
02:17:25,159 --> 02:17:27,399
to charge an awful lot of interest on it to

2062
02:17:27,440 --> 02:17:37,479
show a profit. See, it's as simple as that. So

2063
02:17:37,799 --> 02:17:42,520
with a flexible currency, now they have a lever on

2064
02:17:42,559 --> 02:17:46,559
it and they can jack the interest rates down, down, down,

2065
02:17:46,799 --> 02:17:49,159
so that it's attractive and they're still making plenty of

2066
02:17:49,159 --> 02:17:53,040
profit on it because it didn't cost them anything, and

2067
02:17:53,079 --> 02:17:58,879
they have reversed the trend toward private capital formation. And

2068
02:17:58,920 --> 02:18:01,319
the third objective that they spoke about in those days

2069
02:18:01,440 --> 02:18:04,799
was how to pass on the inevitable losses within the

2070
02:18:04,840 --> 02:18:08,040
banking system, to pass those losses on to the taxpayer

2071
02:18:08,639 --> 02:18:14,760
in the name of protecting the people. Now, let's give

2072
02:18:14,920 --> 02:18:19,000
the Federal Reserve system another report card with these objectives

2073
02:18:19,000 --> 02:18:24,239
in mind, and see how well it has done. Did

2074
02:18:24,280 --> 02:18:27,360
they keep control over the banking system and the monetary

2075
02:18:27,399 --> 02:18:31,399
system in New York? And yes they did. Anyone who

2076
02:18:31,440 --> 02:18:34,520
knows how the markets function. It has always remained in

2077
02:18:34,559 --> 02:18:37,280
New York. In fact, it's even more so now in

2078
02:18:37,280 --> 02:18:40,440
New York than it was then. Yes, there are plenty

2079
02:18:40,440 --> 02:18:42,360
of large banks in the nation, in the South and

2080
02:18:42,399 --> 02:18:45,559
in the West, but these are small compared to those

2081
02:18:45,639 --> 02:18:48,120
giants that are in New York. In fact, that are

2082
02:18:48,120 --> 02:18:51,520
astride the world, with offices in Pete King in Moscow

2083
02:18:51,680 --> 02:18:54,440
and affric everywhere in the world. The giants are in

2084
02:18:54,440 --> 02:18:57,040
New York and they have been running the show all

2085
02:18:57,079 --> 02:19:00,879
of these years. A few years ago, there was a

2086
02:19:00,920 --> 02:19:03,639
book that appeared on the market called Secrets of the Temple,

2087
02:19:04,200 --> 02:19:08,000
written by William Grider and published by Simon and Schuster.

2088
02:19:09,000 --> 02:19:12,680
It was a bestseller and it was advertised as a

2089
02:19:12,719 --> 02:19:17,639
scathing attack against the federal reserve system. Well, when I

2090
02:19:17,680 --> 02:19:20,879
heard that, I could hardly believe my eyes and my years.

2091
02:19:21,920 --> 02:19:26,120
A scathing attack against the federal reserve system published by

2092
02:19:26,159 --> 02:19:30,879
Simon and Schuster. This is one of the biggies. I

2093
02:19:30,920 --> 02:19:34,959
thought to myself, Well, a miracle has happened. I guess

2094
02:19:35,000 --> 02:19:37,319
I don't have to finish my book because it's done.

2095
02:19:37,360 --> 02:19:39,360
Somebody did it. So I ran down and I got

2096
02:19:39,360 --> 02:19:40,959
a copy of the book, and I went through it,

2097
02:19:41,000 --> 02:19:44,079
and I was amazed at what I found on two points.

2098
02:19:44,840 --> 02:19:47,559
First of all, I was amazed because Grider had his

2099
02:19:47,559 --> 02:19:51,680
history very well done. Indeed, it was accurate. I didn't

2100
02:19:51,680 --> 02:19:53,639
expect that. I thought it might be a whitewash of

2101
02:19:53,680 --> 02:19:57,360
some kind, but it wasn't. It was very good. I

2102
02:19:57,440 --> 02:19:59,360
knew about this because I was right then in the

2103
02:19:59,399 --> 02:20:03,280
process of researching it, and Grider had it. And on

2104
02:20:03,319 --> 02:20:06,040
this point of the concentration of power in New York,

2105
02:20:06,079 --> 02:20:07,680
I'd like to read to you just a couple of

2106
02:20:07,680 --> 02:20:12,000
sentences from his best selling book. He's talking about nineteen

2107
02:20:12,079 --> 02:20:16,479
thirteen here, and he said, at the time, the conventional

2108
02:20:16,520 --> 02:20:20,360
wisdom in Congress was that the government institution would finally

2109
02:20:20,399 --> 02:20:24,840
harness the money trust, disarm its powers, and establish broad

2110
02:20:24,879 --> 02:20:29,239
democratic control over money and credit. The results were nearly

2111
02:20:29,280 --> 02:20:33,879
the opposite. The money reforms enacted in nineteen thirteen, in fact,

2112
02:20:33,920 --> 02:20:37,600
helped to preserve the status quo. To stabilize the old order.

2113
02:20:38,559 --> 02:20:41,760
Money center bankers would not only gain dominance over the

2114
02:20:41,799 --> 02:20:45,760
new central bank, but would also enjoy new insulation against

2115
02:20:45,799 --> 02:20:50,559
instability and their own decline. Once the FED was in operation,

2116
02:20:50,879 --> 02:20:55,399
the steady diffusion of financial power halted. Wall Street, maintained

2117
02:20:55,440 --> 02:21:01,920
its dominant position and even enhanced it, which is now.

2118
02:21:01,959 --> 02:21:04,239
The second thing that amazed me about his book was

2119
02:21:04,280 --> 02:21:08,799
his conclusion, after demonstrating that the Federal Reserve system had

2120
02:21:08,879 --> 02:21:12,280
always acted against the public interest, and that it was

2121
02:21:12,360 --> 02:21:15,200
designed to do that from the beginning, what do you

2122
02:21:15,239 --> 02:21:18,360
suppose his conclusion was regarding what we should do about it?

2123
02:21:18,920 --> 02:21:23,079
Abolish the FED? No, No, nothing that extreme. Well, how

2124
02:21:23,120 --> 02:21:27,319
about a major overhaul? No, No, not necessary, he said.

2125
02:21:27,520 --> 02:21:31,000
You see, folks, it's all so complicated, but we're learning

2126
02:21:31,000 --> 02:21:34,079
as we go, and we're getting better at it. Relax

2127
02:21:34,239 --> 02:21:42,680
everything's under control. All we need now are wiser men. Well,

2128
02:21:42,719 --> 02:21:46,280
there you have an interesting situation. You see. That's the

2129
02:21:46,399 --> 02:21:50,120
kind of powder puff solution that it takes to be

2130
02:21:50,200 --> 02:21:54,520
published by Simon and Schuster or any of the other

2131
02:21:54,600 --> 02:21:58,440
major publishing houses which are firmly locked into the financial

2132
02:21:58,440 --> 02:22:03,760
web of the money trust in Wall Street. There's no

2133
02:22:03,799 --> 02:22:07,719
way in the world that these major media outlets are

2134
02:22:07,760 --> 02:22:11,000
going to allow anybody to come up with a real

2135
02:22:11,159 --> 02:22:14,559
solution to the problem. I need to digrass here just

2136
02:22:14,600 --> 02:22:16,520
for a second, because we have a lot to learn

2137
02:22:16,559 --> 02:22:19,159
from this, not just in the field of the Federal

2138
02:22:19,200 --> 02:22:23,159
Reserve system, but in many other areas of concern to

2139
02:22:23,239 --> 02:22:27,840
our nation and these critical days ahead. It's not enough

2140
02:22:28,600 --> 02:22:32,600
just to point with alarm. It's not enough just to say, well,

2141
02:22:32,600 --> 02:22:35,639
this is historically true, and it's not enough to lead

2142
02:22:35,680 --> 02:22:39,440
the charge if you don't lead it anywhere. See, these

2143
02:22:39,479 --> 02:22:45,280
people don't care how much you expose their scams, or

2144
02:22:45,319 --> 02:22:50,159
their conspiracies or their plots. If you have no solution,

2145
02:22:52,120 --> 02:22:54,000
if your only solution is well now I told you

2146
02:22:54,040 --> 02:22:59,440
about it for now, just vote Republican. You know, if

2147
02:22:59,440 --> 02:23:02,559
that's it, nothing's going to happen.

2148
02:23:02,399 --> 02:23:02,600
Speaker 5: Is it.

2149
02:23:03,120 --> 02:23:07,239
Speaker 1: Till we look behind party labels. In other words, wiser men,

2150
02:23:08,040 --> 02:23:13,440
whatever that means. This is controlled opposition, ladies and gentlemen,

2151
02:23:13,440 --> 02:23:15,879
and it's something that's been going on for a long time.

2152
02:23:16,959 --> 02:23:20,440
These people are smart enough. Remember they sold this Federal

2153
02:23:20,479 --> 02:23:22,959
Reserve system in the face of opposition, and they did

2154
02:23:23,000 --> 02:23:26,799
it by deception. They're smart enough to control their own opposition,

2155
02:23:27,639 --> 02:23:31,799
or to create their own opposition if necessary, so they

2156
02:23:31,840 --> 02:23:36,879
can lead it nowhere. I'll just leave that thought with

2157
02:23:36,959 --> 02:23:39,319
you because it's something we need to be very aware

2158
02:23:39,319 --> 02:23:43,399
of in the critical days ahead. Let's get back to

2159
02:23:43,479 --> 02:23:46,440
the Federal Reserve. It gets an A on its report

2160
02:23:46,479 --> 02:23:50,399
card for objective number one, which is to maintain control

2161
02:23:50,479 --> 02:23:55,360
over the money markets in New York? Did they reverse

2162
02:23:55,440 --> 02:23:58,319
the trend toward private capital formation?

2163
02:23:59,120 --> 02:23:59,360
Speaker 4: Boy?

2164
02:23:59,399 --> 02:24:04,639
Speaker 1: Did they ye. With interest rates brought down periodically to

2165
02:24:04,719 --> 02:24:10,559
such attractive levels, individuals and corporations have been enticed away

2166
02:24:10,600 --> 02:24:13,159
from saving their own money and going to the bank.

2167
02:24:13,479 --> 02:24:15,360
You'd be a fool not to get that money at

2168
02:24:15,360 --> 02:24:19,399
those low interest rates. Of course, then the economy contracts

2169
02:24:19,399 --> 02:24:21,959
and things go a little sour now and then and

2170
02:24:22,000 --> 02:24:25,319
the fruit falls from the tree and they pick it up.

2171
02:24:25,360 --> 02:24:27,719
They get all your marbles. They get all your assets,

2172
02:24:28,159 --> 02:24:31,639
your houses, your cars, your factories, your stocks, and your bonds.

2173
02:24:33,840 --> 02:24:36,520
That's one of the reasons we've had so many bankruptcies

2174
02:24:36,920 --> 02:24:42,399
in the decades past. Even those companies today which are

2175
02:24:42,440 --> 02:24:46,319
hanging in there by the skin of their teeth because

2176
02:24:46,479 --> 02:24:48,920
it's all they can do to make payments to service

2177
02:24:49,000 --> 02:24:53,040
their debt to the banks. Notice that many of those

2178
02:24:53,079 --> 02:24:56,040
companies are now sending more money to the banks as

2179
02:24:56,120 --> 02:24:59,920
interest on their loans, then they send to their stock

2180
02:25:00,639 --> 02:25:06,639
as dividends on their stocks. Think about that. The banks,

2181
02:25:06,680 --> 02:25:10,319
which created the money out of nothing, no effort at all,

2182
02:25:10,680 --> 02:25:14,040
no risk really of anything, are making more money out

2183
02:25:14,079 --> 02:25:16,879
of these giant industries than the people who worked for

2184
02:25:16,920 --> 02:25:20,399
the money sacrificed, saved the money, invested it, and risked it.

2185
02:25:22,600 --> 02:25:26,799
And yet the money is going to the banks. Yes,

2186
02:25:26,879 --> 02:25:29,440
the Federal Reserve system in fact, gets an A on

2187
02:25:29,520 --> 02:25:33,520
its report card for reversing the trend toward private capital formation.

2188
02:25:33,600 --> 02:25:37,159
And they did it with a flexible currency, just as

2189
02:25:37,159 --> 02:25:40,760
they had planned to do it. And what about the

2190
02:25:40,760 --> 02:25:43,719
third objective, which was to pass the losses onto the

2191
02:25:43,760 --> 02:25:47,920
taxpayers in the name of protecting the people. That is

2192
02:25:47,959 --> 02:25:52,360
something which I call in my book operation Bailout, the

2193
02:25:52,399 --> 02:25:55,639
game called bailout. You may have noticed every time a

2194
02:25:55,719 --> 02:25:59,239
large bank gets into trouble, not the small banks. They're dispensable.

2195
02:25:59,520 --> 02:26:03,559
A large banks. When they get into trouble, they're going

2196
02:26:03,639 --> 02:26:06,200
to be bailed out by the government, which means by

2197
02:26:06,200 --> 02:26:09,760
your tax dollars in mind, in the name of protecting

2198
02:26:09,799 --> 02:26:14,319
the people. It doesn't make any difference if there's a

2199
02:26:14,399 --> 02:26:18,680
if it's a private corporation or a city, municipality, or

2200
02:26:18,719 --> 02:26:22,479
a third world country whoever has borrowed megabucks from these

2201
02:26:22,520 --> 02:26:25,399
banks and now can't service their debt anymore. They have

2202
02:26:25,559 --> 02:26:29,120
trouble making those interest payments, which is all banks care about.

2203
02:26:29,159 --> 02:26:31,360
They don't want you to pay back the loan because

2204
02:26:31,399 --> 02:26:34,079
they have then just the problem of finding somebody else

2205
02:26:34,120 --> 02:26:35,639
to lend it to. They don't want you to pay

2206
02:26:35,639 --> 02:26:37,879
back your loan. They want you to pay the interest

2207
02:26:37,920 --> 02:26:42,319
on the loan and keep those loans going forever. And finally,

2208
02:26:42,360 --> 02:26:45,920
when people have trouble making those interest payments and it

2209
02:26:45,920 --> 02:26:47,559
looks like the bank is going to have to write

2210
02:26:47,559 --> 02:26:50,200
it off of its books, what happens. They go to

2211
02:26:50,239 --> 02:26:53,360
Congress and they say, well, this corporation that's having trouble

2212
02:26:53,399 --> 02:26:56,600
making its interest payments. We can't let that corporation fold

2213
02:26:56,639 --> 02:26:59,600
because look how many thousands of jobs would be lost

2214
02:26:59,639 --> 02:27:02,920
and would go on welfare. There would be despair. We

2215
02:27:03,000 --> 02:27:07,079
must protect the people. Or if it's a third world

2216
02:27:07,079 --> 02:27:11,600
country that can't make its interest payments anymore, they said, well,

2217
02:27:11,639 --> 02:27:13,799
we can't allow that to happen. We must make those

2218
02:27:13,799 --> 02:27:18,360
payments for them in some way or another. Because if

2219
02:27:18,399 --> 02:27:22,600
that venerable bank had to write that huge loan off

2220
02:27:22,639 --> 02:27:26,680
of its books, it would technically be bankrupt. And if

2221
02:27:26,680 --> 02:27:29,159
it were bankrupt, it might have to close its doors.

2222
02:27:29,399 --> 02:27:31,879
If that bank were to fall, it's such a huge bank,

2223
02:27:32,120 --> 02:27:34,159
it'd be like a domino, and it might knock the

2224
02:27:34,200 --> 02:27:36,879
other banks down too, and we could have a major

2225
02:27:36,959 --> 02:27:39,639
economic crisis on our hands, and look how the people

2226
02:27:39,680 --> 02:27:46,280
would suffer. And so Congress dutifully always responds. Remember Congress,

2227
02:27:46,280 --> 02:27:50,559
as the partner in this scam, always rushes in and says, yes,

2228
02:27:50,600 --> 02:27:53,040
we can't allow those bad things to happen to the people.

2229
02:27:53,319 --> 02:27:56,719
And so they vote the money to guarantee the loans

2230
02:27:56,799 --> 02:28:00,399
or make outright payments in some very creative fashions so

2231
02:28:00,479 --> 02:28:04,479
that the interest can continue flowing to the banks. Some

2232
02:28:04,559 --> 02:28:06,879
of the more memorable games you may have missed over

2233
02:28:06,959 --> 02:28:10,000
the recent years. Penn Central Railroad was bailed out in

2234
02:28:10,079 --> 02:28:14,639
nineteen seventy, Lockheed Corporation that same year, Commonwealth Bank of

2235
02:28:14,680 --> 02:28:17,840
Detroit in nineteen seventy two, New York City in nineteen

2236
02:28:17,879 --> 02:28:22,000
seventy five, Chrysler in nineteen seventy eight, First Pennsylvania Bank

2237
02:28:22,040 --> 02:28:25,200
in nineteen eighty, Continental Illinois the largest of the bank

2238
02:28:25,319 --> 02:28:28,280
so far in nineteen eighty two. And of course we

2239
02:28:28,360 --> 02:28:31,360
know how many Third world countries out there have had

2240
02:28:31,360 --> 02:28:35,440
their debts funded. The money comes from the IMF World

2241
02:28:35,520 --> 02:28:38,440
Bank so they can continue making their payments. And the

2242
02:28:38,520 --> 02:28:41,600
IMF World Bank gets their money from the Federal Reserve System,

2243
02:28:41,719 --> 02:28:44,440
and the Federal Reserve System gets it from us in

2244
02:28:44,479 --> 02:28:48,680
the form of that Mandrake mechanism and the hidden tax

2245
02:28:48,760 --> 02:28:54,440
called inflation or direct taxes in some places. The Federal

2246
02:28:54,479 --> 02:28:58,079
Reserve System gets an a on its report card on

2247
02:28:58,200 --> 02:29:05,000
all three of its true objectives. My final topic is

2248
02:29:05,040 --> 02:29:08,440
a short one and it has to do with usury,

2249
02:29:09,799 --> 02:29:14,399
an interesting concept. Usury used to be defined in ancient

2250
02:29:14,479 --> 02:29:20,159
times as interest on a loan. Period any interest on

2251
02:29:20,360 --> 02:29:24,479
any loan was usury. Well, it's been redefined in modern

2252
02:29:24,520 --> 02:29:29,000
times as excessive interest on a loan in view of

2253
02:29:29,040 --> 02:29:32,200
the fact that when people earn their money and they

2254
02:29:32,239 --> 02:29:36,079
save it, they sacrifice the use of it, and then

2255
02:29:36,120 --> 02:29:39,879
they loan it to somebody else for their venture, they're

2256
02:29:40,040 --> 02:29:44,399
entitled to some reasonable return on that sacrifice. Some interest

2257
02:29:44,479 --> 02:29:48,120
return is it seems fair and logical to most people.

2258
02:29:48,200 --> 02:29:52,559
So the question today is excessive interest? What is that?

2259
02:29:54,879 --> 02:29:58,639
It was Thomas Edison who said people who will not

2260
02:29:58,760 --> 02:30:02,159
turn a shovelful of dirt on the project, nor contribute

2261
02:30:02,200 --> 02:30:06,200
a pound of materials will collect more money than will

2262
02:30:06,239 --> 02:30:08,719
the people who will supply all the materials and do

2263
02:30:08,799 --> 02:30:12,600
all the work. When I read that, I wondered if

2264
02:30:12,639 --> 02:30:16,760
that was true. I took my calculator and I ran

2265
02:30:16,799 --> 02:30:20,239
the numbers. You might try this sometime. If you assume

2266
02:30:20,319 --> 02:30:23,440
a one hundred thousand dollars home to be built, and

2267
02:30:23,479 --> 02:30:26,079
the thirty thousand dollars is to go for the land

2268
02:30:26,159 --> 02:30:28,600
and the architect's fees, and the building permits that kind

2269
02:30:28,639 --> 02:30:32,479
of thing, seventy thousand dollars to go for the actual

2270
02:30:32,879 --> 02:30:37,479
construction of the house, the materials on the labor. You

2271
02:30:37,520 --> 02:30:40,319
assume further that the buyer goes to the bank, puts

2272
02:30:40,360 --> 02:30:43,760
twenty percent down, takes out a ten percent loan for

2273
02:30:43,879 --> 02:30:47,760
thirty years. Punch in the numbers and you will see

2274
02:30:47,840 --> 02:30:50,879
that he will pay to the bank in interest one

2275
02:30:50,959 --> 02:30:54,120
hundred and seventy two thousand, seven hundred and forty one

2276
02:30:54,200 --> 02:31:01,760
dollars compared to seventy thousand dollars for labor materials. In

2277
02:31:01,799 --> 02:31:07,520
other words, as Edison said, two and a half times

2278
02:31:07,559 --> 02:31:11,799
more will be paid to the banks who did nothing

2279
02:31:12,760 --> 02:31:15,840
than for those who provided all the labor and all

2280
02:31:16,040 --> 02:31:21,040
the materials. And you may say, well, yeah, that's true,

2281
02:31:21,040 --> 02:31:25,239
but don't forget the time value of money. Reasonable interest

2282
02:31:25,479 --> 02:31:29,600
is rational. People need to be compensated for the sacrifice

2283
02:31:29,639 --> 02:31:31,600
of their money over thirty years. That's a long period

2284
02:31:31,600 --> 02:31:35,799
of time. Wait a minute, not this money, ladies and gentlemen.

2285
02:31:36,200 --> 02:31:41,000
Nobody earned this money, Nobody saved this money, Nobody sacrificed

2286
02:31:41,079 --> 02:31:45,280
anything for this money. This money was created out of nothing.

2287
02:31:47,000 --> 02:31:49,799
And I suggest that one hundred and seventy two seven

2288
02:31:49,959 --> 02:31:58,799
and forty one dollars interest on nothing is excessive. I

2289
02:31:58,840 --> 02:32:01,520
think we need to focus on this issue. We need

2290
02:32:01,639 --> 02:32:07,280
a new definition of the word usury. Any interest on

2291
02:32:07,559 --> 02:32:14,719
any loan of fiat money, meaning money created out of nothing. Now,

2292
02:32:14,760 --> 02:32:19,000
this example of one hundred and seventy two seven and

2293
02:32:19,000 --> 02:32:23,200
forty one dollars unearned interest on a one hundred thousand

2294
02:32:23,200 --> 02:32:29,440
dollars home is like a grain of sand in the Sahara.

2295
02:32:30,040 --> 02:32:35,159
Look around the desert. All of the other homes of America,

2296
02:32:36,799 --> 02:32:41,479
all the factories, all the machinery in the factories, all

2297
02:32:41,559 --> 02:32:47,879
of the high rise buildings, the hotels, all the aeroplanes,

2298
02:32:47,920 --> 02:32:53,280
the automobiles, the farm equipment, the farm structures, everything that

2299
02:32:53,319 --> 02:32:56,000
we have. You were looking at a similar relationship here.

2300
02:32:57,920 --> 02:33:01,879
This is staggering. Consider the amount of money that is

2301
02:33:01,920 --> 02:33:08,360
in this huge, wide river of wealth flowing into the

2302
02:33:08,399 --> 02:33:13,280
banking cartel because the money was created out of nothing.

2303
02:33:14,719 --> 02:33:17,719
It's such a wide river of wealth you can't even

2304
02:33:18,079 --> 02:33:22,559
think across it in your mind. It's perpetually moving into

2305
02:33:22,600 --> 02:33:28,200
the banking cartel. This is a dead short across the

2306
02:33:28,239 --> 02:33:31,200
productive capacity of America. This is money that should be

2307
02:33:31,280 --> 02:33:35,879
going to the people who produce and who create, instead

2308
02:33:35,920 --> 02:33:40,399
of being siphoned off through a scam. Think of what

2309
02:33:40,520 --> 02:33:45,319
our standard of living could be if it weren't for

2310
02:33:45,399 --> 02:33:50,120
this dead short across our economy. Well, Where is this

2311
02:33:50,239 --> 02:33:53,399
money going? This river? Where is it flowing? You get

2312
02:33:53,399 --> 02:33:56,520
the mental picture that maybe it's going into a lake

2313
02:33:56,600 --> 02:34:01,760
somewhere or behind a dam. All this money is rising, accumulating,

2314
02:34:01,760 --> 02:34:05,799
people are getting richer and richer and richer. No, not so,

2315
02:34:05,920 --> 02:34:11,520
it's not how it works. They're spending the money, what

2316
02:34:11,559 --> 02:34:14,719
are they spending it for. Whether they're not spending it

2317
02:34:14,760 --> 02:34:19,959
for more yachts and more mansions, that's not it. I

2318
02:34:19,959 --> 02:34:22,159
mean they got rid of the mansions back on Jackal Island.

2319
02:34:22,159 --> 02:34:26,040
They got bored with those things. Once a person has

2320
02:34:26,079 --> 02:34:29,239
all the money that they can possibly use for the

2321
02:34:29,280 --> 02:34:32,159
material pleasures of life, what is left.

2322
02:34:32,959 --> 02:34:33,239
Speaker 5: Sure?

2323
02:34:33,479 --> 02:34:38,879
Speaker 1: Power. Absolutely, they are spending this money for power, ladies

2324
02:34:38,879 --> 02:34:42,440
and gentlemen, to acquire power over you and me and

2325
02:34:42,559 --> 02:34:46,520
our children. They're literally buying up the world with it.

2326
02:34:46,559 --> 02:34:48,719
But I don't mean they're buying up the real estate

2327
02:34:49,559 --> 02:34:55,159
or the hardware. They're buying up control over people. Technically,

2328
02:34:55,159 --> 02:34:58,719
in sociological terms, they're buying control over the power centers,

2329
02:34:59,280 --> 02:35:04,440
which means those groups and institutions through which people live

2330
02:35:04,520 --> 02:35:10,040
and work and follow leadership and accept information. People are

2331
02:35:10,079 --> 02:35:13,479
always associated in groups, and they work in groups. They

2332
02:35:13,559 --> 02:35:18,479
move in groups. And these groups have heads of them, leaders,

2333
02:35:20,079 --> 02:35:22,600
and this money has been going for many years to

2334
02:35:22,719 --> 02:35:26,799
acquire influence, if not control, over the leaders of these

2335
02:35:26,920 --> 02:35:32,799
power centers in society, so they can therefore indirectly influence

2336
02:35:32,840 --> 02:35:37,479
and control you and me specifically. That means they had

2337
02:35:37,520 --> 02:35:42,280
been spending this river of wealth very freely to buy

2338
02:35:42,360 --> 02:35:50,239
control over politicians, political parties, television networks, cable networks, newspapers, magazines, publishers,

2339
02:35:50,319 --> 02:35:55,879
wire services, motion picture studios, universities, labor unions, church organizations,

2340
02:35:55,920 --> 02:36:02,680
trade associations, labor unions, tax exempt foundations, multinational corporations, Boy Scouts,

2341
02:36:02,760 --> 02:36:06,879
Girl Scouts, you name it, make your own list. I

2342
02:36:06,959 --> 02:36:11,120
guarantee you if you have a large influential organization which

2343
02:36:11,200 --> 02:36:15,520
influences people, you will find that this river of wealth

2344
02:36:15,760 --> 02:36:21,319
has been flowing partly into an attempt to acquire control

2345
02:36:21,440 --> 02:36:28,200
over the leadership of these institutions and organizations, especially those

2346
02:36:28,280 --> 02:36:35,680
which are offered as opposition, especially those which supposedly are

2347
02:36:35,760 --> 02:36:41,559
to stop this whole process from happening. Now, this has

2348
02:36:41,639 --> 02:36:43,840
not only been going on in America, but this has

2349
02:36:43,879 --> 02:36:47,079
been going on in every nation of the world, pretty

2350
02:36:47,159 --> 02:36:50,280
much in the industrialized nations. As it has gone on here,

2351
02:36:50,680 --> 02:36:52,760
But I'd like to call your attention to what's been

2352
02:36:52,799 --> 02:36:56,319
happening in the so called third world or the underdeveloped nations.

2353
02:36:57,200 --> 02:37:03,520
This process is now complete. It's not going on, it's finished.

2354
02:37:04,959 --> 02:37:10,079
They literally have bought those nations. Have you ever wondered

2355
02:37:10,079 --> 02:37:12,840
what's going on there with the IMF World Bank. Every

2356
02:37:12,879 --> 02:37:14,559
once in a while, on the back page of the

2357
02:37:14,559 --> 02:37:18,079
newspaper you read that Congress once again authorized another hundred

2358
02:37:18,079 --> 02:37:20,760
billion dollars or so to go to the World Bank,

2359
02:37:21,639 --> 02:37:23,840
and then it explains very carefully that this money is

2360
02:37:23,879 --> 02:37:27,639
being used for humanitarian reasons, is being used to uplift

2361
02:37:27,639 --> 02:37:31,600
the standard of living of these poor people. That is

2362
02:37:31,639 --> 02:37:34,600
an appearance of the fourth kind if you ever saw one.

2363
02:37:35,760 --> 02:37:38,680
It's not being used for that at all. If it is,

2364
02:37:38,719 --> 02:37:40,879
they're not doing a very good job, because after all

2365
02:37:40,920 --> 02:37:44,399
these years, you cannot point to one of those countries

2366
02:37:44,440 --> 02:37:47,040
which has had its standard of living raised one iota

2367
02:37:47,120 --> 02:37:50,920
by this vast expenditure of money, because it was never

2368
02:37:50,959 --> 02:37:53,559
designed to do that. The money does not go to

2369
02:37:53,600 --> 02:37:55,760
the people, It does not go to the industries or

2370
02:37:55,760 --> 02:37:58,040
the businesses of those countries where it might have a

2371
02:37:58,120 --> 02:38:00,799
chance of raising the standard of living. It goes to

2372
02:38:00,840 --> 02:38:04,040
the politicians, doesn't it. It goes to the governments of those countries,

2373
02:38:04,680 --> 02:38:09,520
and it is used specifically to perfect and strengthen the

2374
02:38:09,600 --> 02:38:15,559
control mechanisms over their people. Usually this starts out that

2375
02:38:15,680 --> 02:38:19,159
starts out as an inefficient dictatorship, but by the time

2376
02:38:19,200 --> 02:38:21,600
they get the un money, it ends up as an

2377
02:38:21,639 --> 02:38:27,479
efficient dictatorship. They have a better organized and equipped army,

2378
02:38:28,000 --> 02:38:31,879
they have a better paid bureaucracy, more people in the bureaucracy.

2379
02:38:31,920 --> 02:38:35,479
They have more ways of controlling their subjects. They have

2380
02:38:36,000 --> 02:38:39,120
food chains that they can offer to their friends and

2381
02:38:39,399 --> 02:38:43,840
deny it to their enemies. This money is used to

2382
02:38:43,879 --> 02:38:47,040
build totalitarian systems in every country that you want to

2383
02:38:47,120 --> 02:38:53,040
point to and analyze. See these people, these leaders of

2384
02:38:53,079 --> 02:38:55,879
these countries, for the most part, couldn't care less about

2385
02:38:56,559 --> 02:38:59,559
the standard of living of their subjects as long as

2386
02:38:59,559 --> 02:39:02,440
they live well. They live in their mansions, have their yachts,

2387
02:39:02,520 --> 02:39:05,440
their jetair aircraft, and they go to New York and

2388
02:39:05,440 --> 02:39:08,559
live in the Waldorf Astoria while they attend United Nations meetings.

2389
02:39:09,280 --> 02:39:16,120
They're very happy with that. They have no ideology communism, socialism, fascism, capitalism.

2390
02:39:16,200 --> 02:39:21,200
What difference does it make? Where's the money? That's it

2391
02:39:21,479 --> 02:39:25,479
with these people. We know how welfare families in this

2392
02:39:25,520 --> 02:39:29,159
country can be second third generation families, and there's no

2393
02:39:29,239 --> 02:39:31,200
hope at all of getting them off the dole because

2394
02:39:31,200 --> 02:39:34,559
they can't imagine any other way of life. This happens

2395
02:39:34,600 --> 02:39:38,000
at the international stage too. We're dealing with countries now

2396
02:39:38,040 --> 02:39:42,559
that are second, third, in some cases fourth generation welfare governments.

2397
02:39:44,040 --> 02:39:46,319
They don't know how to survive unless that money comes

2398
02:39:46,360 --> 02:39:49,959
free through the International Monetary Fund and the World Bank, means,

2399
02:39:49,959 --> 02:39:53,159
from us. There's no way in the world they're going

2400
02:39:53,200 --> 02:39:56,040
to break free from that. These countries, ladies and gentlemen,

2401
02:39:56,079 --> 02:39:59,799
have already been purchased lock stock and beryl in this fashion,

2402
02:40:00,079 --> 02:40:03,120
and they are now in place in the new world order,

2403
02:40:04,440 --> 02:40:08,440
and they're simply waiting for us to show up. And

2404
02:40:08,479 --> 02:40:10,520
that's the other side of the coin, because not only

2405
02:40:10,559 --> 02:40:13,760
does this transfer of wealth to these countries from us

2406
02:40:13,959 --> 02:40:16,040
not raise their standard of living, but it does in

2407
02:40:16,040 --> 02:40:18,799
fact help to lower ours. And this too is part

2408
02:40:18,799 --> 02:40:22,079
of the plan. A strong nation is not a candidate

2409
02:40:22,120 --> 02:40:25,440
for surrendering its sovereignty. But if a nation can be

2410
02:40:25,479 --> 02:40:29,280
brought to its needs, if it is hungry, desperate, it

2411
02:40:29,280 --> 02:40:33,159
has chaos on its street in its streets, if it

2412
02:40:33,159 --> 02:40:37,920
has political turmoil, then the people in that nation will

2413
02:40:38,440 --> 02:40:42,000
much more likely accept any solution that's offered to them

2414
02:40:42,479 --> 02:40:46,200
by their government or by a world government. If there's

2415
02:40:46,280 --> 02:40:51,360
anarchy in the streets, as we saw in Watts in

2416
02:40:51,399 --> 02:40:56,600
Los Angeles, people were joyous when the soldiers showed up.

2417
02:40:57,799 --> 02:41:00,920
They were joyous because this now was an into anarchy.

2418
02:41:01,680 --> 02:41:06,360
It was a dress rehearsal. They won't care whether the

2419
02:41:06,479 --> 02:41:10,159
helmets on these people are blue or brown. If it

2420
02:41:10,159 --> 02:41:12,799
says UN on the side, that won't make any difference.

2421
02:41:12,799 --> 02:41:16,280
They'll say thank God for the UN finally brought restored

2422
02:41:16,399 --> 02:41:19,719
peace to our streets. And if people are hungry and

2423
02:41:19,760 --> 02:41:22,120
they're out of work and they don't know what to

2424
02:41:22,159 --> 02:41:24,600
do and the economy, they'll be so thankful for a

2425
02:41:24,719 --> 02:41:28,719
UN monetary unit which has purchasing power a little bit

2426
02:41:29,639 --> 02:41:32,200
thank God for this UN money because the old American

2427
02:41:32,239 --> 02:41:35,079
dollars that put don't know what to do with it.

2428
02:41:36,399 --> 02:41:39,440
This is the plan, ladies and gentlemen, to weaken America.

2429
02:41:40,760 --> 02:41:43,079
And so that's the process. And I'm mentioning this because

2430
02:41:43,120 --> 02:41:45,719
I want to emphasize to you that what is going

2431
02:41:45,760 --> 02:41:49,920
on here has nothing at all to do with wealth.

2432
02:41:50,959 --> 02:41:56,079
The name of the game now is power. Well, now,

2433
02:41:56,079 --> 02:42:00,600
what are we going to do about this? Obviously, if

2434
02:42:00,680 --> 02:42:03,440
we just restrict our attention to the subject, which is

2435
02:42:03,479 --> 02:42:07,239
ours tonight, the federal reserve system, the answer is clear.

2436
02:42:07,799 --> 02:42:09,440
We have to slay the creature. But how are we

2437
02:42:09,520 --> 02:42:13,879
going to do that? The creature was created by Congress,

2438
02:42:13,879 --> 02:42:16,559
and that's how it's going to be slain. Congress can

2439
02:42:16,680 --> 02:42:19,520
do it and will do it if we build enough

2440
02:42:19,559 --> 02:42:23,520
fire under those chairs in Washington. I think it was

2441
02:42:23,559 --> 02:42:26,959
Clyde Watts. General Clyde Watts years ago said he was

2442
02:42:26,959 --> 02:42:29,000
speaking of judges in those days, but he could have

2443
02:42:29,040 --> 02:42:33,079
well as well talked about congressmen. He said they may

2444
02:42:33,120 --> 02:42:38,959
not see the light, but they can feel the heat,

2445
02:42:39,559 --> 02:42:43,239
and this is true. I don't know if you folks

2446
02:42:43,280 --> 02:42:45,319
know well, I know many of you folks here know

2447
02:42:45,399 --> 02:42:47,799
all about the trim committees, which are part of the

2448
02:42:47,840 --> 02:42:51,879
John Birds Society. They have proven themselves to be excellent

2449
02:42:52,680 --> 02:42:55,559
ways of getting some of these big spenders out of Congress.

2450
02:42:55,559 --> 02:42:58,079
It just happened, we saw, but I think it was

2451
02:42:58,120 --> 02:43:02,319
thirty of them replaced entirely because of trim activity. But

2452
02:43:02,600 --> 02:43:04,319
believe me, it had a lot to do with it.

2453
02:43:04,600 --> 02:43:09,280
This is something that works. And even those that that

2454
02:43:09,440 --> 02:43:13,280
didn't come up, that didn't get replaced, they're having their

2455
02:43:13,319 --> 02:43:16,840
voting records change. I don't I don't have the name here, unfortunately,

2456
02:43:16,840 --> 02:43:19,719
but I heard just the other day there was some congressman.

2457
02:43:20,280 --> 02:43:21,920
We had the letters shown to us.

2458
02:43:21,959 --> 02:43:22,079
Speaker 5: There.

2459
02:43:22,120 --> 02:43:24,360
Speaker 1: Here was a guy with his voting record was it

2460
02:43:24,440 --> 02:43:27,559
was very bad. He was voting for big government and

2461
02:43:28,120 --> 02:43:32,200
higher taxes. And the Trim Committee started to hand out

2462
02:43:32,239 --> 02:43:34,520
his trim bulletins in his district. And it was at

2463
02:43:34,520 --> 02:43:36,559
a gun show and he came over. He says, take

2464
02:43:36,600 --> 02:43:38,920
those things off the table, and he was irate. He said, well,

2465
02:43:38,959 --> 02:43:42,079
we can't do that. Congressman. That's your report card, you know.

2466
02:43:43,440 --> 02:43:45,479
And he wrote a real nasty letter or two, and

2467
02:43:45,520 --> 02:43:47,040
they had copies of it, and he said, you know,

2468
02:43:47,159 --> 02:43:50,000
I think that these trim bulletins are good for one thing,

2469
02:43:50,079 --> 02:43:53,479
and that's to line the bottom of the birdcage. That's

2470
02:43:53,479 --> 02:43:57,959
what he said. The next election, his report card was

2471
02:43:58,040 --> 02:44:01,639
all good. He decided I can't get rid of these

2472
02:44:01,680 --> 02:44:05,600
trim bulletins. He's changed his voting and the next report

2473
02:44:05,639 --> 02:44:09,159
card was good. He straightened out he had no particular principles.

2474
02:44:09,159 --> 02:44:11,959
But these fellows put their finger to the wind and

2475
02:44:11,959 --> 02:44:14,639
they can tell which way it's blowing. If he wanted

2476
02:44:14,680 --> 02:44:17,399
to be re elected, he had to get into step.

2477
02:44:18,760 --> 02:44:20,280
And I know that a lot of these people go

2478
02:44:20,319 --> 02:44:22,520
around saying, well, I've been trying to warn my constituency

2479
02:44:22,520 --> 02:44:25,760
there's danger for many years once the fire is built

2480
02:44:25,879 --> 02:44:29,879
under their seats. So that is a very important program,

2481
02:44:30,120 --> 02:44:34,639
and we can do it simply by exposing the voting

2482
02:44:34,639 --> 02:44:38,840
records of these people and not just taking their words. Now,

2483
02:44:39,000 --> 02:44:41,479
all of this, of course, this whole program requires an

2484
02:44:41,479 --> 02:44:45,840
informed electorate, and that doesn't just happen. You don't inform

2485
02:44:45,879 --> 02:44:48,000
the electorate just by wanting it to happen. You have

2486
02:44:48,040 --> 02:44:51,280
to have quality educational materials. You have to know that

2487
02:44:51,319 --> 02:44:54,639
they're accurate, you have to be able to rely on them.

2488
02:44:55,120 --> 02:44:58,600
You have to have an organization to prepare and distribute

2489
02:44:58,639 --> 02:45:02,040
these materials. They don't go out on their own. I mean,

2490
02:45:02,079 --> 02:45:04,440
I could have written this book, for example, and it

2491
02:45:04,440 --> 02:45:07,799
would have just stacked up in my garage without the

2492
02:45:08,040 --> 02:45:12,040
Speaker's Committee, without the Bird the Bird Society's programs and

2493
02:45:12,079 --> 02:45:15,680
its chapters and its people in place, it's coordinators. It

2494
02:45:15,719 --> 02:45:19,239
takes an organization to make these things happen, and of

2495
02:45:19,280 --> 02:45:24,799
course not the least of which it takes leadership which

2496
02:45:24,799 --> 02:45:29,079
has proven its ability and its expertise, particularly its integrity,

2497
02:45:29,159 --> 02:45:32,840
so it can offer real solutions instead of non solutions,

2498
02:45:33,399 --> 02:45:36,079
and leadership which is not going to be purchased and

2499
02:45:36,159 --> 02:45:39,639
run by the opposition. And of course that is the

2500
02:45:39,680 --> 02:45:43,479
mission of the John Bird Society. If there's anybody here

2501
02:45:43,520 --> 02:45:46,639
who's not a member yet, I just want to tell

2502
02:45:46,639 --> 02:45:52,319
you that the Society is an ideological army and the

2503
02:45:52,360 --> 02:45:57,399
time has come to enlist. I think it was Patrick

2504
02:45:57,440 --> 02:46:01,360
Henry who put it pretty well. He said, our brethren

2505
02:46:01,520 --> 02:46:09,200
are already in the field. Why stand we here idle? Now?

2506
02:46:09,239 --> 02:46:15,040
The bad news is that time is running out. It

2507
02:46:15,200 --> 02:46:19,600
used to be that I told people that about some

2508
02:46:19,680 --> 02:46:22,079
of these problems, and they would say to me, could

2509
02:46:22,079 --> 02:46:25,799
never happen in America. It's just exaggerating, you know. And

2510
02:46:25,879 --> 02:46:28,879
now they say, how much time do you think we

2511
02:46:28,959 --> 02:46:33,799
have left? Because you can see it. It's all around us.

2512
02:46:33,879 --> 02:46:37,479
The new world order is being built around us. We

2513
02:46:37,559 --> 02:46:42,399
have a world army being built, a world court being built,

2514
02:46:42,799 --> 02:46:46,479
a world taxing authority being built, a world trading authority

2515
02:46:46,520 --> 02:46:50,319
being built, it's being built all around us. You realize

2516
02:46:50,399 --> 02:46:52,840
right now as we speak, over half of our standing

2517
02:46:52,879 --> 02:46:58,040
military is now serving under foreign officers. This thing is

2518
02:46:58,079 --> 02:47:03,280
going rapidly, ladies to gentle So we're running out of time.

2519
02:47:05,079 --> 02:47:09,120
But the good news is we still have time. We

2520
02:47:09,200 --> 02:47:12,280
still have time, and we have the freedom to work.

2521
02:47:12,440 --> 02:47:16,079
We can do it if we'll work like the Dickens,

2522
02:47:16,239 --> 02:47:19,959
like our freedom and our lives depended upon it. They do.

2523
02:47:20,440 --> 02:47:23,639
That's precisely what does depend on it. So instead of

2524
02:47:23,680 --> 02:47:26,600
being sour about how late the hour is, we should

2525
02:47:26,639 --> 02:47:29,760
rejoice over the fact that we still have freedom. We

2526
02:47:29,799 --> 02:47:33,520
still can meet like this, we can hold public meetings,

2527
02:47:33,520 --> 02:47:36,760
we still have elections, we can still throw these scoundrels out.

2528
02:47:37,680 --> 02:47:40,159
So what we need to do now is just get

2529
02:47:40,200 --> 02:47:45,840
to work and do that which we must do. We

2530
02:47:45,879 --> 02:47:49,120
can still overthrow the government of the United States every

2531
02:47:49,200 --> 02:47:53,399
two years without firing a single shot it we'll simply

2532
02:47:53,440 --> 02:47:59,639
discharge the responsibility of citizenship which comes along with being

2533
02:47:59,719 --> 02:48:04,040
free men. So that's my message with you, ladies and gentlemen,

2534
02:48:04,600 --> 02:48:07,200
and that is that whatever it is you plan to

2535
02:48:07,280 --> 02:48:11,360
do for your freedom or your country, do it now.

2536
02:48:12,440 --> 02:48:16,760
And a good place to begin is to send Epictatus

2537
02:48:16,879 --> 02:48:22,040
back to Phrygia, and let's convert that mammoth appearance of

2538
02:48:22,079 --> 02:48:25,920
the fourth kind into a disappearance of the first kind.

2539
02:48:26,159 --> 02:48:48,600
Speaker 5: Thank you.

2540
02:48:48,600 --> 02:48:50,959
Speaker 4: You're listening to the Fact Hunter Radio Network.

2541
02:48:54,440 --> 02:48:55,280
Speaker 1: Just the facts, mammo.