Speaker 1: The following presentation Isndel Marvis Studio's production.
Speaker 2: You're listening to the fact Hunter Radio Network. Here is
your host, George Hubbs.
Speaker 3: Welcome back truth seekers from around the world. It's time
for another edition of the fact Hunter podcast. As we
record on this Tuesday, made the twenty six, twenty twenty six.
I hope everybody had a great weekend. We spent a
lot of time with family and friends, remembering those who
gave the ultimate sacrifice. I hope everybody is well rested
and certainly in interesting times. Today we're not going to
really talk about some current events. We're going to get
right into it because there's so much to talk about.
Today is part three of exposing the Matrix, and it's
the financial aspect of it, which is again, you know,
one of the biggest parts of the matrix and what
we'll have a large part of the b system.
Speaker 4: When it comes to play.
Speaker 3: Now on the back end of this podcas cast and
I know over the last six years, I've probably dropped
this three or four times at least. G Edward Griffin's
his lecture about the Creature from Jekyl Island. I think
that runs an hour forty So this should be close
to a three hour podcast. And I think that lecture
was from the mid nineties, ninety four, ninety five, and
you know, it's just as relevant today as it was
when he initially gave it thirty years ago. And by
the way, speaking of Jedward Griffin, I think he's closed.
At this November, he'll be ninety five and you can
still find I think he's still doing interviews on YouTube.
Maybe we'll have to reach out to him. But a
very important topic today the financial matrix, and we're just
going to jump right into it today and again, this
modern financial system that we live in today, that we
are entangled in today, it was never designed to create
true independence and that world, or I should say that
word within this country is used on a daily basis.
But the fact is that the modern financial system, and
when I say modern, really post eighteen seventy one, and
then you had those markers right nineteen thirteen, nineteen thirty three,
nineteen seventy one, where the value of the dollar became
less and less, the Federal Reserve in nineteen thirteen, nineteen
thirty three, everybody turning their gold. We became a socialist
financial system, and seventy one, seventy one or seventy two,
we left the gold standard and it became the dollar
is a debt note. Right, And every single year going forward,
we work harder, we pay more, and we somehow continue
to fall further behind, while the massive institutions themselves, well,
they accumulate this unimaginable levels of wealth and control. And
we've seen just over the last year how inflation really
posts twenty twenty, right, how inflation has quietly just destroyed
our purchasing power. You know, people will point to, well,
look minimum wage. You can get a job at dunkin
Donuts for eighteen dollars. That is a horrible sign of inflation. Okay,
Back in the fifties, pop could work and mom could
stay home and take care of the kids, and they
could pay out of the bills and still have money
to go on vacation and put money aside for college.
The reason we're in the situation we are today is
because we became off the you know, we came off
the gold standard, and we became a debt based economy,
and this hyperinflation is just destroying us. Right, we make more,
like I can guarantee most of your paycheck are bigger
than you've ever seen before. But the actual liquidity you
have by the time you pay all your bills. And
my goodness, I was talking to my cousin this weekend.
Her electric bills five six hundred dollars a month.
Speaker 4: Now that they come up with.
Speaker 3: All of these delivery fees and all this other nonsense
to continue keeping you down and working harder and not
being able to spend time with yourself and your family,
and in the good book, in these type of things. Now,
the central banks, which again, even if you haven't you've
listened to G. Edward Griffin's lecture a few times. It's
always good back. It's always great to go back and
listen to. And if you've never heard it, you're really
in for a treat because he talks about how these
banking elites got together on Jackie Little Island off the
coast of Georgia and formulated what became an independent private
bank that control the United States. And you know, there
are some things that people in this country don't understand,
and our monetary system.
Speaker 4: Is one of them.
Speaker 3: The Central Bank is one of them. And I could
go on and on and on. That's why it's important
when you have this information. If you're at a party,
a family get together. I know it's uncomfortable to be
that guy to bring this stuff up, but we have
to educate these people.
Speaker 4: They have to be wakened up.
Speaker 3: Central banks create money from nothing. Right, If you or
I do that, that's called counterfeit and you go to jail.
Speaker 4: But they can do it.
Speaker 3: And you know, ordinary people trade away decades of our
lives to survive in the system that you and I
never agreed to. It was forced upon us, right, Woodrow
Wilson sold us out, FDR sold us out, Nixon sold
us out, the Federal Reserve, the IMF, the World Bank.
And look at these private entities that are buying everything
up Blackrock, Vanguard, State Street.
Speaker 4: These aren't friend names. These are real.
Speaker 3: Institutions with enormous influence over governments, corporations, housing markets, media companies,
pharmaceutical giants, defense contractors, and the food supply itself. And
when you start to see this conglomerate, the small amount
of mega corporations that are controlling everything, you understand that, hey,
maybe the beast system isn't too far off.
Speaker 4: I mean, think of this.
Speaker 3: A handful of asset management firms now hold major ownership
stakes across thousands of companies worldwide, creating a level of
centralized financial influence that is unprecedented in our history. And
the result is a system where competition becomes illusion right,
because they're all owned, even the competitors at the top
of the food chain. The largest shareholders are the same folks,
and elections are farce right now, while politicians argue on
television about left versus right, and even more sad the
people are fellow Americans are more concerned about the people
in Washington, d c. Than what is really going on
with the matrix. You have trillions of dollars printed out
of thin air. Our currency is losing value by the day.
And now it's become evident that housing, you know, the
most basic necessity, has become unattainable for so many people.
You have small businesses collapsing while mega corporations grow larger
during every crisis, and now they're pushing a Bola antavirus
one thing after another. The average person is pushed toward
permanent financial servitude.
Speaker 4: Right.
Speaker 3: There's other words you could substant for that, but we're
going to use servitude. Mortgagees, credit cards, student loans. By
the time some of these young adults are twenty two.
They're stepping out into the world already one hundred k
in debt, medical debt, subscriptions, digital banking, on and on
and on. Now, the system itself survives because most people
are too exhausted to question it. They're working too hard
to question it. They're trapped inside cycles of survival, distraction, entertainment, fear.
Because after a long week, you put in fifty sixty
hours to pay the bills and feed your family. Most
people would rather put their feed up, drink a cold beverage,
and watch football. But here's the thing. Once you begin
tracing money, the connections become impossible to ignore. Wars create profit,
and it also serves to that first note on the
Georgia Guidestone, right keeping humanity at five hundred million in
perpetual balance of humanity. Now, well, my wife, you know,
she's there with me with all these lies around. You know,
one of her biggest things is she's like, there's no
way there's eight billion people on this earth. Now, she's
never given me a hard number, but that's something that
she's every time you hear someone say eight billion.
Speaker 4: People, she laughs at it. Again.
Speaker 3: Once you begin tracing the money.
Speaker 4: Everything.
Speaker 3: The wars create profit, inflation creates dependency. But then they
intentionally do these crashes, whether it's two thousand and eight,
whether it's COVID, and they do all that to consolidate
more power. And then every solution somehow gives more power
to the very institutions that help create the problem in
the first place. Now, again, the central banking is the
engine room of the financial matrix. And I'll ask you this,
the listener, what percentage of the average person in this
country understands a our monetary system and b what the
central bank actually is that it is not really a
part of our government, that it hasn't been audited in
fifty years. And you know, Trump will say things like,
how about the gold in Fort Knox, Well, how about
you get your behind down there in inventory, although we'd
get a false figure. Why don't we, the shareholders of
this country, hold these people accountable. Most people think money
begins with labor, production, savings or honest exchange. But in
today's modern system, money begins with the debt. The second
that dollar is printed, its debt. That is the part
that these schools, you know, these children spend thirteen years
in school and they have no idea how our monetary
system works. Central banks sit above your commercial bank, whether
it's M and T, Wilmington, Trust, WSFS, Capital One, you
name it, right above the ordinary barrower, above the small
business owner, in many ways, above the politician. They don't
have to campaign for your vote. They don't have to
knock on your door. They don't have to explain themselves
when the Federal Reserve raises interest rates or lowers them,
or expands the money supply, buys assets, rescues banks. That's
a farce in itself. They're not rescuing a bank, they're consolidating.
The consequences ripple through the entire country. Credit gets easier
or tighter, housing prices rise or crash, and we've seen
both with them just a couple of years. Savings are
punished or rewarded. Back growing up, I remember when savings
the interest for savings accounts were outstanding. Now it's not
even one percent, is it?
Speaker 5: Is?
Speaker 3: It like half a percent? That's why most people why
bother that with savings account just sits there. What they
really want you to do is invest in Wall Street
and hold on to your money there, because again, when
you put your money in the bank, whether it's checking
or savings, they only have to hold on to ten
percent of your deposit. So for every one hundred dollars
you put in the bank, So if you got paid
today and you got three thousand dollars paycheck, they only
have to hold on to three hundred dollars. The other
twenty seven hundred dollars goes to paying their employees, the
electric bill, advertising, using that to loan out to other
people for mortgages and credit cards at you know, anywhere
between seven if you're talking about a mortgage, and upwards
of twenty five for credit cards. And it's the system
of it's truly a parasitic system that again, you know.
Speaker 1: That.
Speaker 3: I think there's a lot of people who are they
call themselves Christians, and I'm not saying they're not, but
they have no idea what the Bible says about usury.
They have no idea about the people who's within the Israel,
the borders of Israel, most people.
Speaker 4: And it's just shocked me over the last year.
Speaker 3: When I go up to somebody, especially people who are
over sixty sixty five years old, they'll come up to
me and they'll say.
Speaker 4: Why why do so many people don't like Israel?
Speaker 3: And then you have a conversation with them. Most people,
the average person has no clue, and this is true.
Most the average person has no clue that Jewish people
do not believe that Jesus Christ is the Messiah or
where they think he is. It's they think they're just
like us. They have no idea. And it's the same
when it comes to the monetary system, when it comes
to the central.
Speaker 4: Bank and all of these things.
Speaker 3: The Federal is not some harmless bookkeeping office that is
looking for everyone's best interest. It's the central nervous system
of American finance again graded nineteen thirteen, and from that
moment forward, the United States moved much deeper into a
managed money system where the value of currency could be
manipulated to benefit the powers that be. Not we right,
The American people were sold this idea that central banking
would bring stability, prevent panics, and protect the economy. But
if you notice the timing of it, if we didn't
and maybe you guys, there's somebody out there smarter than me.
But I always beg the question that if we did
not have a central bank, we would not have had all.
Speaker 4: Of these wars.
Speaker 3: And the reason that we had World War one, World
War two, Korea, Vietnam, and then you know we've been
in the Middle East for the last thirty five years,
really kicking off in ninety one, is because we have
this open checkbook and we can write a check to
the military industrial complex for trillions of dollars, endless debt,
repeated crashes, bank bailouts. And today here we are in
twenty twenty six. You know, the monetary system has broke
more than ever. We were talking this weekend. Gas was,
you know, to seventy five just a little bit ago,
then it jumped up to four fifty. Now it's back
down to about four fifteen, four to twenty. And that's
here in Delaware. I've heard reports California, Alaska, and Hawaii
between eight and ten dollars. And you have a government
that spends money it doesn't have. And again, if it's
you or I, we declare bankruptcy, were held accountable for
seven to ten years. You can't do this, can't do
that while you have a government that has no fiscal
responsibility whatsoever. Once again rules for thee but not for me.
And that dollar has lost honestly a majority of its
purchasing power. A government that spends money it doesn't have that.
Fiat simply means money by decree. It has value because
the government says it has value, because the banks.
Speaker 4: Accept it, because.
Speaker 3: Taxes are demanded in it, and because the public has
been trained to trust it. But fiat money is not
honest money in the old sense. It's not tied to
gold or silver or any real restraint that prevents the
ruling class from creating more of it when it's convenient.
And again, once money becomes purely paper, and now most
digital entries are on a screen, the temptation to inflate
becomes irresistible. Governments can compromise, and they can promise more
than they can afford. And you know, you tie them
in with the five ozho one c threes.
Speaker 4: You saw what they.
Speaker 3: Did with Massy, a nonprofit that has no business existing
in the United States, through thirty some million dollars. And
I'll save that for another time, because I could talk
for an hour about how some people are so blind.
But you know, when you talk about fiat currency, that's
the genius of it, all right, that's the genius of it.
From the perspective of the quote unquote ruling class. It
allows theft without the appearance of theft. It turns inflation
into a hidden tax. If the government raised your taxes
by twenty percent overnight, people would revolt. However, if groceries, well,
I say that, you know, we've become absolute pushovers.
Speaker 4: That's the truth.
Speaker 3: I don't know if we'll ever see a revolt again
in our lifetime, we'll say. But groceries rent, fuel, insurance,
and utilities. They climb year after year while the dollar
quietly weakens. The public blames the grocery store, the landlord,
the gas station. But the fact is all of those
prices are affecting them as well. They say, you know, well,
I guess I need to work more. I need a
second job. Maybe I should put it on a credit card.
That is exactly how the system keeps people running on
the proverbial treadmill. Fiat currency doesn't merely change prices.
Speaker 4: It changes behavior.
Speaker 3: It forces dependency, It discourages savings, and it rewards debtors
close to the source of new money and punishes workers
who receive the money last after prices have already been adjusted.
And then your text and everything else.
Speaker 4: That goes on top of it.
Speaker 3: So you know, this is really where central banking and
currency becomes one machine. The central bank controls the cost
of the money, the banking system creates the credit, and
the government creates endless obligations, most often with their buddies
and their pals, and they know the futures and where
to put their money in the stock market. And what
do we do? We absorb the consequences when new money
enter new money enters the economy, it doesn't reach everyone equally.
It flows first through the banks, then the government contractors,
then the asset managers, the financial institutions, and politically connected corporations.
And by the time that money reaches ordinary families like
you and I, prices have already moved. The wealthy see
their assets rise, the stocks rise, the real estate rises,
the corporate values rise. Meanwhile the working class these milk, eggs, meat,
rent fuel, all of that, insurance climb higher.
Speaker 4: If you don't have.
Speaker 3: Insurance, well you can't drive your car, Well you can't
own your house. And you know you have your experts
on TV explain it with charts and academic language that
you just wouldn't understand. You're just gonna have to trust
us and roll with the punches, right, and they claim that,
you know, the people being crusted are just too stupid
to understand what's happening to them.
Speaker 4: And that's what they do it.
Speaker 3: And that's why all of the you know, you have
to point to these folks who are holding as hostage.
And let's start with the Federal Reserve, the Bank of
International Settlements in Switzerland, the IMF, the World Bank, Wall Street, Blackrock, Vanguard,
State Street, JP, Morgan Chase, Goldman, Sachs, Morgan, Stanley, Bank
of America. They sit inside this bloodstream of the modern economy.
They influence capital policy, markets, debt development, and when they
get in trouble, they are bailed out. When we get
in trouble, sucks to be you. And that's the truth.
And again, the biggest thing with fiat currency is it.
Speaker 4: Makes war possible.
Speaker 3: Before modern fiat systems, wars had to be funded more
directly through taxation, borrowing under much stricter limits real resources.
But once a nation and this is so so important
that gets overlooked, once a nation can create money, expand credit,
issue debt, and push the cost into the future through inflation,
war becomes easier to sell. The public doesn't feel the
full cost immediately. They feel it later through debthigher prices,
lower purchasing power, and a weaker currency. Defense contractors get
paid now, the banks collect interest now. So and we
see the same pattern appear in every crisis. You have
a crash, the public panics, the experts, who are all
part of the ruling class, step forward. The government announces
emergency action. There are no bid contracts. The central bank
injects liquidity. Large institutions are protected. Small businesses and working
families are told to suck it up for the good
of the system. And when the dust settles, the largest
players are even larger, and you and I are left
out to dry.
Speaker 4: Wealth in this.
Speaker 3: Country is transferred upward. These assets have consolidated to the
likes we've never seen before and again, and one of
the most the whole reason that the folks agreed to
have this central government was to keep monopolies from happening.
To see what's happening right now, whether it be Amazon
or again Vanguard, State Street, black Rock. But we have
become such a convenience based country we are willing to
overlook a monopoly to be able to order a guitar
pick and have it delivered at our front step the
next day between four and eight am. Like Legitimately, people
are more concerned about their comfort than watching all these
small businesses get crushed and be.
Speaker 4: Deemed non essential. I think we've.
Speaker 3: Clearly explained the Fiat currency, the central banks, but when
you talk about the financial matrix, just not talking about
normal economics. Everybody who's taken, you know, a business class,
whether it be macroeconomics or business one oh one, you
name it, you know that you understand that we're talking
about a system that creates money from debt and it
weakens currency through inflation. And inflation is the real silent theft.
It's you know, the people who are sitting closest to
the money spigot are not suffering under the system.
Speaker 4: They're feeding from it.
Speaker 3: And they hidden taxation. Right whether it's I don't smoke,
but whether it's cigarettes, gas, there's a lot of products
out there that people don't even know that are taxed.
And that hidden taxation through inflation allows governments to avoid
political backlash that direct taxation would create. So listen, if
Congress openly announced a massive new tax increase to finance
endless wars, corporate bailout, foreign aid packages, and bloated bureaucracy.
Speaker 4: That would be outrage right, but.
Speaker 3: Inflation spreads the cost invisibly across the entire population, just
under the point of people losing it, and you know,
providing real political backlash, right, and especially the over sixty
folks who for some reason, people are okay with paying
property taxes, even to folks who have paid their house off.
And again we've gone over this before. We just say, okay,
I guess God gave the government our land, and then
we're just running it from the government. It's just such
a farce. And if there's one thing I learned over
the last week or two is that the job of
deprogramming people is so much bigger than I ever thought.
And part of that problem is, number one, the education
system that has now become educate to the.
Speaker 4: Right.
Speaker 3: They don't want that gifted and talented program. They don't
want they make it so basic. And it's not just
me saying that, I have you made the State of
Delaware releases, you know, our schools reports and so many
like if your school's at thirty percent at the grade level,
it's astounding. You never see anybody above fifty anymore. We
have failed the children. You have those children in school
for six seven hours a day, one hundred and eighty
five days a year, and they can't read a.
Speaker 4: Tenth grade level.
Speaker 3: Come on now, consumer debt, that's a big one. Credit cards,
auto loans, student life, personal loans by now pay later,
thirty year mortgages have exponentially transformed millions of people into
financial tenants inside their own lives. Entire generations have been
conditioned to believe debt is normal, necessary, and unavoidable.
Speaker 4: Listen to this.
Speaker 3: A teenager graduates high school and is immediately encouraged to
borrow tens of thousands of dollars before ever entering the workforce.
You have young couples beginning marriage under the mountains of debt.
And I think part of that. The more I've been
thinking of how low the birthrate has become in twenty
twenty six, a lot of these younger folks are so
in debt they're afraid they can't afford a child, which
obviously formula diapers, and I'm not encouraging formula obviously, but
I'm saying all of those things add up, right, And
you know, once you start bleeding. Then it's credit cards,
loans and payday loans. And I'll tell you the psychological
side of consumer debt is just as important as the
financial side. I remember being a young man, I got married,
young children young. You know, by the time I was
twenty one, I had been to combat and had two children.
Speaker 4: And I'm here to tell you debt.
Speaker 3: Changes behavior when you're behind, when your phone is ringing
and the bill collectors are calling you. It affects your marriage,
it affects you being a parent, and you even lose
focus as a Christian because you start to blame God.
And people say, well, if there was a God, why
would he allow me to fall into debt? And we're
bad at that as Christians. When things are going really well,
we like to pat ourselves in the back and say, look,
I got the job promotion, you hit the home run
at the church softball league to win the game. You
pat yourself on the back. But when things start going bad,
we tend to look up and blame God. There is
a real psychological burden that comes with debt.
Speaker 4: You know.
Speaker 3: People afraid of missing payments are less likely to challenge authority.
They're less likely to take risks in life to speak openly,
and this is the one that people don't even think about.
There is a such thing as abusive work environments. There
are some, seriously, I can tell you over the last
forty years. I started working when I was twelve or thirteen.
Life was different back then. Saturday mornings, I would go
to the it was called the buffet shop, and it
was catering business. I'd be there at five am, opening
up cans of beans. They were catering business, and filling
that up and loading up the truck, putting the Sterno's
in there. And then we'd be washing all the dishes
from all the food being cooked. And I'm telling you,
I'm not saying that one was. But I can think
of all the toxic places where I had to work
because I had to pay the b I was in debt,
even part time jobs, right I had. At one point
I was working two full time jobs before I joined
the army. Debt creates obedience, and someone who is drowning
and obligations can't easily walk away from the machine because
the machine or that system owns his future earnings before
he ever even receives them. That's why modern society constantly
pushes consumption over ownership. They push borrowing over savings. You
hear loan commercials, credit card commercials, right capital ie h,
funny commercials, right credit cards?
Speaker 4: Discover? How often do you.
Speaker 3: See savings commercials? How often do you see healthy commercials? Hey, dandy,
lionte this and that. No, it's pharmaceutical commercials. It's the
matrix we live in. We have to break the matrix,
even the credit score system itself.
Speaker 4: Let me ask you this. Have I know we.
Speaker 3: Have a bastion of free thinkers out there in our community.
Why don't we have a credit system for the banks
if their debt to income ratio.
Speaker 4: Is bad? Why aren't they public?
Speaker 3: Why?
Speaker 4: Maybe I want to go open account at.
Speaker 3: Dover Federal, Dover Federal Credit Union or USAA. Is there
some type of credit score?
Speaker 1: Now?
Speaker 3: I know there's different things out there that independent companies.
Speaker 4: That rate the banks.
Speaker 3: But if I'm told my credit score every day, I
know what it is. Why can't I just go to
a public forum and see exactly, you know, how much
money they have, what their debt is, how much their
CEO makes. And I know some of those things are available,
but why aren't they more commonly available, why are they allowed?
Like if I went to a bank for a mortgage
and they said, well, we can't give mortgages right now
because we're in trouble and we have too much debt. Right,
we don't find out banks are in trouble until it's
already too late.
Speaker 4: Right, it'll come on the news.
Speaker 3: Mountain West Federal Credit Union has collapsed. Rights, we're told
after the fact. And that is something that is always
again rules for thee but not for me. And when
they do go bad, either a a conglomerate sucks them
up for pennies on the dollar.
Speaker 4: Or somebody bails them.
Speaker 3: Out, not us, right, But think about a three digit
number becomes a measure of economic worthiness. Entire lives are
filtered through algorithms designed by financial institutions that profit from
debt dependency. And you know what the irony is The
system awards those who continuously borrow and maintain debt.
Speaker 4: I remember one time I was.
Speaker 3: Like, why, you know, why is my credit score this?
I don't have any debt and everything's paid off, and
they're like, well, you need to use your credit card
once a month, And I'm like that makes no sense
at all, Right, it's it's insane. This system rewards those
who continuously borrow and maintain debt while punishing those who
avoid credit altogether. And I know all of you who
live in rural communities like I do. Cash is king
here very rarely. At our little corner gas station will
you see people swiping a credit card. Will go in
hand them a twenty or forty or if it's the
f one fifty at this I'm handing them one hundred
now in hope and I get cash back. I got
a thirty six gallon ten. You don't see people swiping nobody.
We don't want to be in debt. That's the reason
we move out to the rural area. We don't want
to be a part of this system like that. Just
don't and that credit card system, pardon me, credit score system.
It trains the public into behavioral conformity, just like the
school bell.
Speaker 4: Think about it.
Speaker 3: Pay on time, maintain revolving debt, don't disrupt the system,
Remain financially traceable, build a documented history of dependence on
institutional credit.
Speaker 4: Right.
Speaker 3: Many of these scoring mechanisms can eventually expand far beyond
lending into full spectrum behavioral monitoring.
Speaker 4: That's right.
Speaker 3: You know what I'm talking about, and it's not science
fiction anymore. Around the world, governments and corporations are increasingly
discussing programmable money, digital identity systems, and ESG compliance standards.
We've been talking about for years, and as we say, right,
they had to have all these systems in place to
be able to pull off COVID with Zoom and everything else.
Speaker 4: Well, now that they have this AI.
Speaker 3: Driven financial monitoring and integrated economic tracking. Once every transaction
becomes digital, the people who run the show will gain
an unprecedented visibility into human behavior, what you buy, where
you travel. Even now the local dump, we don't pay
two hundred bucks a quarter for some guy to come
by and take our trash. I've got six big trash
cans and when they're full, I load them in the
truck and I go down to the dump and I
pay seven dollars and fifty cents to dump my trash.
Now every two or three weeks, I worked hard for
my money.
Speaker 4: I am.
Speaker 3: I'm not a convenience guy. I don't care what people
think of me. I take my own trash to the
dump and when I you know, it's one hundred and
ninety some dollars a quarter to have our trash picked up.
And I probably go, say six times, so I pay forty.
Speaker 4: Two dollars to go to the dump.
Speaker 3: It's one hundred and fifty bucks in my pocket. But
starting June first, guess what when you go to the dump,
you know.
Speaker 4: What you have to do?
Speaker 3: Got to show your ID. It's a joke, it's you know.
You combine that with inflation, debt dependency, and a centralized
digital banking system, it's not an economic system anymore. It's
social control. And then digital currency. Let's talk about that.
That that's going to be the final nail in the
beast system. And for decades, probably seventies eighties when it
really started. I think seventies is when credit cards really
started to go into motion.
Speaker 4: Post World War Two.
Speaker 3: In the fifties some places would offer credit, but my
goodness that they have and COVID remember that played a
part of it. We can't take cash because it has
germs on it. Remember so much had to do with COVID. Boy,
we swung and missed on that one. But now debit
cards replace cash. It's the same as cash, and not
really smartphones replaced wallets. How many of you use your
smartphone for purchase. Online banking has replaced the local branches USAA.
They have hardly any I think they have some in Texas.
We had one in Colleen, but I can't tell you. Well,
I ken, but I can't tell you the last time
I went into a bank to do a full transaction,
like to cash a check or something like that. Now
you take a picture of your check and it's to pause.
But you got to watch it. The central banks are
really pushing the central bank digital currency, and once that
is in place again, every transaction will be tracked, restricted, approved,
denied in real time. And listen, Christians, that's where you've
got to begin connecting the discussion of Biblical warnings found
in the Book of Revelation concerning the b system, a
future economic order in which buying and selling became tied
to centralized authority and compliance. Whether one believes the final
system arrives suddenly or develops gradually over time, the direction
is impossible to ignore. A programmable digital currency could theoretically
allow governments or financial institutions to freeze accounts, to limit purchases,
to block donations, to restrict travel, to penalize dissent, and
then of course you're going to have consumption quotas right,
your carbon tax, your carbon credits, reward approved behavior. You'll
go grocery shopping and it'll say declined and there'll be
a code. The credit card system have had codes, decline
codes for years. I used to work for Chase Manhattan
Bank customer service in the eighties. Date myself a little bit,
get a call, Hey, my card got declined, and I
pull up their account number and it would have a
letter and number code G eight over the credit.
Speaker 4: Limit right.
Speaker 3: B four late payment, things like that.
Speaker 4: So you'll get a.
Speaker 3: Declined G six and you'll look on your smartphone. G
six put a post on Facebook that was detrimental to
the government. So you have to go on Facebook and
remove your post, and then you'll get a little message,
a little text message, your card has been enabled. Thank
you for removing that post. Remember in the future to
love your government. And again you're laughing. It's going to happen,
and I would venture to guess that by twenty thirty
that system will be in place. So that's why you know,
there's no time like the present to get right with
the Lord. And if you're not sure how to send
me a text seven one nine sixty five one zero
sixty four to two. May not be able to get
to you right away, but I'll get back to you.
Send me an email the fact Hunter at mail dot com.
We have to educate, We need to be formed spiritually.
We need to be in christ.
Speaker 4: You need to be ready.
Speaker 3: Listen, there's a reason you're putting this timeline and got
to put on that full armor and be ready because
you know a lot of people. I mentioned this before
and I think it's just rich people wanting to be
more rich. This is a spiritual battle. And listen, you
asked anybody in my community. Cash represents freedom everything down here.
You can't go a quarter mile without seeing somebody having
a little stand on the corner of fruit vegetables, eggs
and they have a little lock box. You just drop
your two bucks in there, you take the eggs and go.
We do it all the time as well, fruit vegetable.
We used to have a lot of excess eggs. Wife
would sell them to people she knew cash.
Speaker 4: It is freedom.
Speaker 3: Digital only systems remove that independence once every transaction becomes digital.
Whoever controls the system controls participation itself. If a person
can no longer buy food, can't buy fuel, medicine, or
shelter without digital authorization, at economic power becomes the absolute power.
At the same time, one of the greatest wealth transfers
in history unfolded right in front of us. While most
people are distracted by politics, entertainment, vision, manufactured outrage.
Speaker 4: Oh he took a need during the national anthem.
Speaker 3: Oh this guy, it's just And people take the bait
every single time, and every major financial crisis takes the
same pattern. The ordinary folks suffer, small businesses collapse, retirement
accounts are damaged, jobs disappear, home ownership becomes harder. Meanwhile,
you have enormous corporations, investment firms, and financial institutions. They
get larger, richer, and more powerful than before. And you know,
I'm not going to really get into the two thousand
and eight because we've talked about it one hundred times,
but COVID, my goodness, gracious, that was just the dagger,
the nail in the coffin. It devastated, you know, and
pop restaurants, shops are churches. Well, you look at the
numbers of churches that closed since it's we just had
this in class last week every year, it's negative thousands,
four thousand. I think like X amount open, x amount close.
And the real problem is what's going on in those
churches and what's being taught in those churches and diet
Christianity as I teach it, And in so many of
these buildings, the pastors are are kind of afraid to
speak the truth because they're more worried about losing congregants
than speaking the truth and how we should be living.
It's really staggering. But the illusion of choice, I need
to move along because X amount of time. This could
be a four part series, but the illusion of choice
becomes one of the defining characters of the modern age.
Speaker 4: It truly is is grocery stores.
Speaker 3: They may appear filled with competing brands, but many trace
back to the same parent conglomerates. News outlets present themselves
as rivals while often sharing the same interests investors, advertisers,
and coordinated narratives.
Speaker 4: Political parties.
Speaker 3: Right, listen, the Bushes, the Clintons, they're tight. They Obamas,
the Trumps, they're tight. They'll say things in public, but
they're all part of the club. They're all part of
the klan. Consumers believe that they're navigating a free market
while the deeper architecture grows increasingly centralized. And then you
have corporate monopolies. They share culture itself, right, or they
shape it. Technology giants now influence what information people can access. Boy,
I was just talking to Raoul about this the other day. Right,
you know, in twenty twenty is when they came out
said you will own nothing. Claus Schwab right said you
will own nothing and be happy, and we laughed at him,
what a joke. And here we are in twenty twenty six.
You own nothing in the entertainment world, and we're fine
with it. Well, because you pay nine dollars a month
for Netflix or whatever it.
Speaker 4: Is today, and you watch movies. Right, it's convenient.
Speaker 3: I'll pay X amount of dollars and I can watch
this whole catalog of movies. But guess what if there's
a movie that goes against the narrative, they'll just pull
it and you don't have access to it. That's why
I'm sorry to beat the dead horse today. There's a
book that you think is important to you, you better
get a physical copy of it. Go to Foundations in Faith.
We have a bookstore there and ship right to your
home in a few days. I've got a few books
in there. Joe Harper's got a book in there. And
if there's an important book, if you're an author and
it you know, ties in with what we talk about here,
I'll put it in our little online store wherever it
ships from. Just it's just a link. You control everything.
I'm not shipping, not drop shipping books. But if you're
a you know, independent author that you have a book
on Amazon, I'll promote it there. It's important that you
get the physical copy of the book because any of
those books that are truly important, that expose the matrix.
Speaker 4: They're going to pull them that.
Speaker 3: They truly are corporate monopolies. They shape culture technology giants, right.
They influence what information people can access, what speech is amplified,
what narratives are suppressed. Financial pressure can be used to
enforce ideological conformity across industries.
Speaker 4: Right.
Speaker 3: Banks can close accounts. Again, my personal PayPal was shut down.
Payment processors can deny service, on and on and on,
and the corporate world operates not merely as an economic system,
but it's a mechanism for social engineering. And if you
look at everything that we as a society, except today
in the mid twenty twenties versus what was accepted just
thirty years ago. It's I'm embarrassed, I feel, you know,
our society has failed to stand up for the good
of man, for what's morally good, and we've just allowed it.
They give us a little spaced event. We go on
Facebook and say, oh this stinks, this is awful, and
then you go, you know, you brag to your buddies.
You see what I posted on Facebook. I really told
them right. Meanwhile, it just goes into the digital atmosphere,
disappears into a vacuum. That's why it's so important to
have a community, to have people around you, to stand
up when these things happen, to be out knocking on
people's doors, witnessing, not just doing a podcast. You have
to be changing the pyramid. You know, your foundation has
to start locally, it really does, you know. Beneath all
the complexity, the direction becomes simple. Wealth concentrates upward, ownership
concentrates upward, all of it. Information control. The average citizen
becomes more dependent, more monitored, more in debt. The financial
matrix is not merely about money. It's about power control,
who holds it, and how dependency is engineered generation after generation.
While the public is told it's just one of those things,
it's an unavoidable cost in the modern life. Modern economic
systems don't merely depend on labor. It depends on consumption.
This endless, relentless, never ending consumption. People are trained from
childhood to become consumers before they're ever independent thinkers. Advertising
surrounds them from the moment they wake up until the moment.
Speaker 4: They fall asleep.
Speaker 3: Buy more, upgrade, right even when you order your pizza online.
Get a large for three more bucks, finance more, stream more, subscribe, more,
consume more, go back and watch that movie The Matrix.
Entire industries exist not to meet genuine human needs, but
to manufacture dissatisfaction. The public is constantly told that they
are incomplete without the newest device.
Speaker 4: The newest vehicle, the newest trend.
Speaker 3: Look, I have the iPhone whatever they're on now, right,
status symbols, And that is nothing new, by the way, Right,
when I was in high school, you were judged by
what you were. I have a member's only jacket, right,
the new Rebok high tops right, And that is so silly,
you know, spending two hundred and fifty dollars on shoes
to me, I'm not here to judge you guys. I'm
just saying from my perspective, it's just not what we
were put on this world to do, to focus on consumption.
Speaker 4: And yeah, I'm guilty as all you guys.
Speaker 3: I'm a radio file. I like shortwave radio.
Speaker 4: I like.
Speaker 3: You know, ham radio and those type of things. I
think it's awesome to be able to speak to someone
on the other side of the world, not using a
cell phone, those type of things. But you know, a
person's identity can become tied to what they purchase rather
than who they actually are, and debt fuels that consumption.
Advertising fuels the desire, and social pressure fuels the insecurity.
Speaker 4: And then that is that never.
Speaker 3: Ending system, back to the consumption, desire, insecurity all the
way around. And what makes the system especially dangerous is
that it creates the illusion of freedom while quietly producing dependence.
People believe that they're exercising liberty because they can choose
between products, ban brands and streaming services and slogans, But underneath,
once again, we're being financially enslaved. Beneath the surface, the
last report and again, who knows if this is true,
just like the eight billion people thing, But we're told
upwards of eighty percent of households live paycheck to paycheck
while they're surrounded by financed possessions. They technically don't even own.
Those cars belong to lenders, the homes belong to banks,
and those credit cards are quietly accumulating interest month after month,
and student debt that can follow people for decades, and
the culture that encourages immediate gratification because financially disciplined and
truly independent people are.
Speaker 4: Harder to manipulate.
Speaker 3: Man, you want this car now, don't you know you
don't need to save up for that. You can walk
out of this car today. You just got to sign
your name right here. And a population addicted to consumption
becomes easier to manage because emotional impulses override long term thinking,
and that endless consumption, well, that also creates a permanent distraction.
People overwhelmed by debt, rising prices, economic anxiety, and financial
surve often lack the time, energy, or clarity to question
the deeper systems operating around them. That average person is
exhausted again, They work longer hours, they take a second job,
pick up over time, use another credit card, refinance their house,
which in turn they have to delay retirement, and they
just push through the burnout. And after all that, they
just want to need a release, so they'll flood their
mind with entertainment, social media, sports, the latest celebrities, scandal,
and manufactured outrage, until there is barely any silence left
to think critically about what is happening in the world
right in front of them. The system doesn't merely profit
from consumption, it benefits from the distraction itself.
Speaker 4: Right.
Speaker 3: Fear We always talk about it, and economic fear becomes
one of the most powerful tools of social and political
control as well. Right twenty twenty, no job, no job, right,
fear of losing employment, healthcare, for closure, retirement, saving, all
of that. Fear of financial instability keeps populations compliant. And
in twenty twenty we heard from a lot of good
people that, ma'am, I'm just doing my job.
Speaker 4: Right, Sorry, I'm closing your church. I'm just doing my job.
Speaker 3: Where in as many of those places they were sworn
to uphold the constitution. But that is the beauty and
ugliness of the matrix. Right, A man terrified of losing
everything he owns, becomes a whole lot less likely to
challenge corrupt institutions, speak openly, resist immoral policies, or opposed
growing systems of control. You will see in our lifetime,
maybe the next three or four years, a threat of
veterans losing their benefits if they speak against the government.
Bookmark that day to day May twenty sixth, George said,
this financial insecurity creates a psychological pressure that reaches far
beyond economics. It shapes behavior, speech, risk taking, and even
morality itself. A population consistently living under financial pressure becomes
easier to steer through fear based messaging because survival itself
feels uncertain. And that's why economic crisis are always accompanied
by demands for more centralized authority. Right every crash, shortage, recession,
they always become justification for expanded surveillance, increased control.
Speaker 4: And that new camera system.
Speaker 3: Is everywhere, and we're going to do a podcast on that.
Speaker 4: That is.
Speaker 3: Unacceptable, and we'll talk about it in the coming days
and weeks. But temporary powers always become permanent, right, whether
it's the Patriot Act or what we saw during the
draconian measures during COVID going through an airport. Now it's
just abhorrent. But the more financially desperate people become, the
more willing many are to surrender privacy, independence, and liberty
for the promise of economic safety. And the Bible warned
long ago about the spiritual danger connected to debt and
financial bondage. The borrower is servant to the lender. That
truth from the Book of Proverbs two two, verse seven.
It reaches far beyond personal finance. Debt creates obligation, which
creates dependency, which makes people vulnerable to control. A society
buried under debt becomes easier to manipulate because financial chains
becomes psychological change as well. The modern system has normalized
indebtedness so completely that many people no longer even recognize
the chains that they are bonded under. They see thirty
years debt, that's normal, lifelong payments, part of the deal,
endless refinancing. Oh, got to take care of the house
because just like health insurance, health insurance doesn't cover your
eyes or your teeth, just like homeowner's insurance, well, it
doesn't cover your well and property in the garage, and
this and that. What a scam, What an absolute scam.
Those insurance companies, well ninety nine point nine percent of
those people. They're regular people like us in the matrix
as well, because they have to that's their job, that's
how they feed their family. Permanent financial anxiety is normal,
but scripture presents financial servitude is something dangerous, something capable
of placing one person under the power of another. And
that's why the financial matrix matters so deeply. It's not
just about economics. It's about control over human behavior, and
a population overwhelmed by consumption, burdened by debt, distracted by entertainment,
and a terrified economic collapse becomes easier to influence. The
more dependent people become on centralized systems for survival, the
easier it becomes for those systems.
Speaker 4: To shape what people.
Speaker 3: Believe, what they tolerate, what they fear, and ultimately how
they live. That's going to conclude Part three the Financial Matrix.
Speaker 4: I'm in a.
Speaker 3: Moment going to turn it over to g Edward Griffin
and his lecture The Creature from Jekyl Island from the
mid nineties. Again, we have twelve of these in our series,
and then we also have one or two interviews scheduled
for the summer, and then of course this September is
the twenty fifth anniversary of nine to eleven, and I
guess the proper word would be omnibus. This is going
to be, without a doubt, the most in depth series
of podcasts that we've ever done. Every person, every entity,
every country ever involved in nine to eleven, no matter
how big or small, will be covered in this. Just
a groundbreaking podcast an entire week, five days, several hours
each day breaking down the who's, the what's, the when,
the where, the why and the how. All those questions
will be answered. And we've been working on it, and
you know, by the time we broadcast it, it's going
to be a three or four month worth of production.
After that series of episodes, we are going to go
on hiatus. I will be finishing up school in the spring,
and I have to focus. You can't be on the fence,
you can't be lukewarm when it comes to that stuff.
But I'm using the term hiatus because if things take
a drastic turn in our world, I want to be
able to keep the platform open. But that'll basically wrap
up our sixth year, and there's other things I need
to focus on.
Speaker 4: But we still have.
Speaker 3: Three more months of exposing the truth between the series
we're doing now in our series on nine to eleven.
If there's anything you all need, hit me up. You
have the email and I'll do my best to get
back to you. Just be patient. I do try to
get back to everyone.
Speaker 4: So that's it.
Speaker 3: We'll see you next week. But before you go, i'd
encourage you to hang out and listen to G. Edward
Griffin's lecture the Creature from Jekyll Island. God bless you all.
Keep your head on a swivel and Christ in your heart.
And until we meet again, my friends, we will see you.
Speaker 1: Municipalities such as this, as mister G. Edward Griffin Editor, well,
thank you, Mike, and thank you ladies and gentlemen. I
don't know how to take that remark about age. You know,
when Bill Jasper stands up and they announce him as
the senior editor for the magazine, I know I'm in trouble. Well,
we have a lot of material to cover, so I
think I'll just sort of jump into this as quickly
as possible. I need to warn you about something though,
since this is being videotaped tonight and we have a
limitation on the length of the time on the videotapes.
I have been instructed to divide this into two parts.
The first part will last approximately forty five or fifty
minutes long, and then we'll take a short break, I'm
told while they change tapes, and the next part we
deliver next month. No, now, they're just a few minutes break,
and then we'll continue with part two. So I want
you to know that's coming up. So okay, now to
the topic. Are you ready for this? Okay, so am,
So let's start with history. We'll go back to the
first century BC, to a tiny kingdom called Phrygia, and
it was in that kingdom that there lived a philosopher
but the name of Epictatus. And it was Epictatus who said,
appearances are of four kinds. Things either are as they
appear to be, or they neither are nor appear to be.
Or they are but do not appear to be, Or
they are not and yet appear to be. Don't worry
no quiz on that. Well, that's what he said. When
I read that statement for the first time, I thought
to myself that surely, if Epictatus were alive today, he
would undoubtedly be a Harvard Professor of Money in Banking,
Because this is the kind of explanation we get, isn't
it when we try and figure out what's going on
in the economy or what's going on with the Federal
Reserve system. See what Epictatus did is what is so
commonly done with the experts in this field. Is he
took a relatively simple concept, but by the time he
was through explaining it to us, we didn't have the
foggiest idea when he's talking about. All he said basically
was that appearances can sometimes be deceiving. That's all. We
all know that. But he had to break it down
into four component parts explain that in two ways they
are what they appear to be, and in other two
ways they sometimes are not the way they appear to be.
And they broke it down and we didn't understand what
he's talking about. Nevertheless, I thought that this statement by
Epictatus was a brilliant clue for an outline or a
theme or my presentation, because you know, if there's anything
in the world that is an appearance that is deceiving,
it is the Federal Reserve system, and in particular, it
is one of those appearances of the fourth kind, which is,
I'm sure you all remember, are those which are not
and yet appear to be. So that's going to be
my theme tonight. I'm going to come back to it
now and then if I remember to do it, and
use it as kind of a punctuation point, because this
is perhaps, at the most fundamental level, the most important
thing we need to know about the Federal Reserve system,
which is that it is an appearance of the fourth kind,
something which is not and yet appears to be. When
I did my research on this topic, I came to
the conclusion, which may startle you folks here, that the
Federal Reserve system does not need to be audited. It
needs to be abolished. And the reason I say that
is because I'm sure that if they audited the Federal
Reserve system, they would find out that it's doing exactly
what it's supposed to do. There's no secret there, there's
no shenanigan going on behind the scenes. It's all out
in the open. If we'll just study the Federal Reserve
System on the basis of what we know already, if
we read their literature, if we'll dig into the history,
we find out that it's one of the greatest scams
of all history. Out on the surface, it doesn't need
an audit. An audit, I'm sure, would merely delay the
process for a couple of years, give the American people
the false impression that something is being done about this problem,
and at the end of two years they'd say, well,
the books are clean. I came to the conclusion that
the Federal Reserve needed to be abolished for seven reasons, actually,
and I'd like to read them for you.
Speaker 5: Now.
Speaker 1: I've stated them in rather concise terms. Hopefully they'll have
some shock value so you can remember them. And here
they are. First of all, it is incapable of accomplishing
its stated objectives. Two, it is a cartel operating against
the public interest. Three, it is the supreme instrument of usury.
Four it generates our most fair tax, five it encourages war,
six it destabilizes the economy. And seven it is an
instrument of totalitarianism. Now, I don't know what you think
about those seven points. I know that a lot of
you are totally in agreement with it. I can tell
by your reaction. I trust that there are some skeptics
here tonight. I hope there are otherwise I feel like
the minister talking to the choir. Usually there are skeptics
in my audience, and frankly, those are the ones I'm
most interested in talking to. And for the skeptics, I'm
sure that you are thinking those sound like pretty far
out statements. How could you ever demonstrate them to be true?
But I think you would agree, regardless of your preliminary
conclusion about those statements, that if any of them could
be proven to be true, it would be good enough
reason to abolish the Federal Reserve system. So let's take
a look and see whether they can be supported. Time
doesn't permit to go into all seven of those here
this evening, but I would like to splash around on
at least the first four of them to show you that, indeed,
there is ample evidence to support these conclusions. And I
think the best place to begin with all of this
is where the action was, and that is the creation
of the Federal Reserve system. And that takes us directly
to the title of my book, The Creature from Jekyl Island.
You can almost hear the music being played in the
background as they do some kind of a spot commercial.
To sell this book, I had to admit I had
a lot of fun with that title because I had
this fantasy in my mind that someday it might be
in a bookstore window and people would pass by and think, oh,
it's a sequel to Jurassic Park. But anyway, that will
never happen, I'm sure. The fact of the matter is,
for those of you who know a little bit about
this topic, the title has quite a bit of meaning
in it, and we have a lot to learn by
exploring what that meaning is. First of all, Jekyl Island
is a real island. It's off the coast of Georgia,
and it was on that island back in nineteen ten
that the Federal Reserve system was conceived at a highly
secret meeting that took place there. And what I'd like
to do is talk about this meeting and show you that,
in fact, the Federal Reserve was created there and there
was a lot of secrecy surrounding it. And then we'll
be confronted with the question why the secrecy. When things
are done in secret, there are often things to hide,
and we'll explore what it was that they wanted to hide,
and when we finally understand what that was, will be
face to f with one of the most important facts
about the Federal reserve system that is not generally known.
In nineteen ten, Jekyl Island was privately owned, owned by
a small group of millionaires. In those days, they were millionaires.
In today's dollars, they would be billionaires from New York.
This is where their families went to spend the winter months.
It was a resort island, a resort club. It was
called the Jekyl Island Club, and there was a very
elaborate clubhouse there which was the center of their social activities.
It's still there by the way, if anybody wants to
visit it. The island has been purchased by the State
of Georgia and this clubhouse has been renovated. It's a
beautiful thing. And around this clubhouse they had cottages which
were built by many of the families that belonged to
the club. Cottages are not exactly the word I would
have chosen to describe these structures. I remember on taking
the tour through one of them, the guide said that
there were fourteen bathrooms in that cottage, So you have
an idea of the kind of elegance that was there.
And any event, the number of bathrooms has nothing to
do with this story. I just get hung up on
that because it's hard for me to imagine a cottage
with that man that much running plumbing me. But the
important point was that this is where the Federal Reserve
system was conceived, as in that clubhouse. So let's tell
that story. It all began in November of nineteen ten
when Senator Nelson Aldridge sent his private railroad car to
the New Jersey Railroad station, where there it was in
readiness for the arrival of himself and six other men
who were instructed to come under conditions of great secrecy.
For example, they were told to come one at a time,
not to be seen together, not to dine together. On
the night of their departure. If they had arrived at
the same time, they were instructed to pretend as though
they didn't even know each other. They were to avoid
newspaper reporters because these were well known men, and had
they been spotted by reporters, which often frequented the railroad station,
especially had they been seen together, why many questions would
have been asked. One of the men carried a shotgun
in a big black case, so that if he had
been asked where he was going, he was prepared to
say that he was going on a duck hunting trip.
And the interesting thing about that little piece of the
history is that this man, we'd find out later from
his biographer, never fired a gun in his life, even
had to borrow that shotgun in order to participate in
this deception. Even after they got on board the railroad car,
this pattern continued. They were told to use first names only,
not to use last names, and two of the men
adopted code names completely. The reason for that is that
they were afraid that the servants on board the train
would recognize who they were if they used their last names,
and they knew that if word leaked out in that
fashion and eventually found its way into the press, the
whole purpose of the meeting would have been completely destroyed,
so absolute secrecy was essential. Well. The train traveled for
two nights and a day on a thousand mile journey
to the south, and when they awoke on the second morning,
the car was on the siding the railroad siding at Brunswick, Georgia.
From there they took the ferryboat across the Inland Strait
to Jekyl Island and to the clubhouse, and for the
next nine days these men sat around the table and
hammered out all the important details of what eventually became
the Federal Reserve System. And incidentally, if you visit that
clubhouse today, you can walk down to the end of
the one corridor there and on a door is a
brass plaque and it says, in this room the Federal
Reserve System was created. When they were done, they got
back on board the train back to New York and disappaired.
And for quite a few years after that, these men
denied that any such meeting ever took place. It wasn't
until after the Federal Reserve was firmly established that only
then did they begin to talk openly about it. They
wrote books on it. One of them wrote a magazine article,
and they gave interviews to newspaper reporters. And so now,
many years later, it's possible for us to go to
the public record and find in print detailed descriptions of
what happened at that meeting. Well, who were these men?
The first one I've already mentioned, the one with the
railroad car. Senator Nelson Aldridge, who was the Republican whip
in the Senate He was also chairman of the National
Monetary Commission, which was that special committee of Congress which
was created for the purpose of proposing legislation which was
to reform banking. That was the idea, banking needed reform,
and the American people were greatly concerned in those days
over things they were going on in the banking industry.
People were losing their money in the banks because they
weren't keeping their promises to hold their deposits in reserve.
There were runs on the bank and the banks couldn't
pay the people back. But most of all, they were
concerned over the concentration of financial power that was in
the hands of a small group of very powerful and
large banks in New York on Wall Street. This is
what they called the money Trust. That was the name,
and it was a very popular expression in the newspapers,
and quite a few politicians were elected to office on
their campaign promise to break the grip of the money Trust.
President Wilson was one of those politicians, by the way.
So that was the purpose of the National Monetary Commission,
which was to propose legislation, which eventually became the Federal
Reserve Act, to break the grip of the money trust
over the financial markets of America. Aldridge was a business
associate of JP Morgan. He was the father in law
to John D. Rockefeller Junior, which means, of course, that
eventual he became the grandfather of Nelson Rockefeller, our former
vice president. You remember, his full name was Nelson Aldridge Rockefeller,
so he derived his middle name from his famous grandfather.
The second person at the meeting was Abraham piat Andrew,
who was Assistant Secretary of the Treasury. He later became
a congressman, but he was very prominent in banking circles.
Frank Vanderlip was there. He was the president of the
National City Bank of New York, which was the largest
and the most powerful of all the banks in the country,
representing the financial interests of William Rockefeller and the international
investment firm of con Loeben Company. Henry Davison was there.
He was the senior partner of the J. P. Morgan Company.
Charles Norton was president. He was the president of the
First National Bank of New York, which was another one
of the giants. Also there was Benjamin Strong, who was
the head of J. P. Morgan's Bankers Trust Company and
incidentally three years later, when the Federal Reserve System was
finally created, he became the first head of the system.
And finally there was Paul Warburg, who was probably the
most important of all the men there because of his
knowledge of banking as it was practiced in Europe. Paul
Warburg was born in Germany. He eventually became a naturalized
American citizen. He was a partner in Kuhn Loeben Company.
He was a representative of the Rothschild banking dynasty in
England and France, and through all the years of his
banking in America, he remained in very close contact with
his brother Max Warburg, who was the head of the
Warburg Banking Consortium in Germany and the Netherlands. Paul Warburg
was one of the wealthiest men in the world. And
those of you who are little orphanani fans, you'll remember
Daddy Warbucks. Well, Paul Warburg was the real Daddy Warbucks
after whom that character was named, and everyone at the
time knew it. I have his photograph in the book.
If you'd like to compare his picture to the drawing
rendition of Daddy Warbucks, you'll see the similarity between Warbucks
and Warburg. And also, while we're on the subject of
cartoon characters, anyone who's played Monopoly will remember the drawing
of the capitalist with the handlebar, mustache and the cigar.
That's J. P. Morgan. Those of the seven men who
were on Jackyo Island. And as incredible as it may seem,
they represented approximately one fourth of the wealth the entire world.
And these are the men that sat around a table
on Jekyl Island and created the Federal Reserve system. What's
going on here should arouse our curiosity a little bit.
It didn't just happen. Well, speaking of it just happening.
For the skeptics, you're probably wondering, did it really happen
that way? Perhaps Griffin is exaggerating this to make a point. Well, yes,
it really happened that way, and to illustrate that. We
could go to a lot of documentation, but to simplify this,
I'd like to just read for you a short excerpt
taken from one article. One article written by Frank Vanderlipp,
who was one of the attendees at that meeting, and
this was written in the Saturday Evening Post and it
appeared on February ninth, nineteen thirty five, and this is
what Vanderlip said. I do not feel it is any
exaggeration to speak of our secret de x expedition to
Jekyl Island as the occasion of the actual conception of
what eventually became the Federal Reserve system. We were told
to leave our last names behind us. We were told
further that we should avoid dining together. On the night
of our departure, we were instructed to come, one at
a time, and as unobtrusively as possible, to the railroad
terminal on the New Jersey littoral of the Hudson, where
Senator Aldridge's private car would be in readiness attached to
the rear end of a train to the south. Once
aboard the private car, we began to observe the taboo
that had been fixed on last names. We addressed one
another as Ben Paul Nelson and Abe Davison, and I
adopted even deeper disguises, abandoning our first name on the
theory that we were always right. He became Wilbur and
I became Orville. After those two aviation pioneers, the Wright brothers,
the servants and train crew may have known the identities
of one or two of us, but they did not
know all, and it was the names of all printed together.
They would have made our mysterious journey significant in Washington,
in Wall Street, even in London. Discovery we knew simply
must not happen. Well, why what's the big deal here?
What's wrong with a group of bankers getting together in
private and talking about banking or banking legislation? And the
answer to that question is provided by Vanderlip himself in
the same article. He said, if it were to be
exposed publicly that our particular group had got together and
written a banking bill, that bill would have no chance
whatever of passage by Congress. Why not, because the purpose
of the bill was to break the grip of the
money Trust, and ladies and gentlemen, it was written by
the money Trust. It's as simple as that. Had that
fact been known from the very beginning, the public would
never have accepted it as a means of breaking the
grip over the money Trust, and we would never have
had a federal reserve system because the scam would have
been exposed from the beginning. This was like having the
Fox build a henhouse and install the security system. So
there is a primary reason for the secrecy, and it's
a fact that most Americans have not even considered that
there might have been some kind of deception, massive deception
at the very inception of the Federal Reserve system, and
for a very good reason. But there's more to it
than that, a lot more than that. Consider the composition
of this group and the financial powers they represented. Anything
strange about that mixture? Here? We had the Rockefellers, we
had the Morgan's Counlobin Company, the Rothschilds, the Warburgs, all
in one room for nine days plus two days on
the train coming to an agreement. What's going on here?
Anything strange about that mixture? Well, ladies and gentlemen, these
were competitors. These were the giants in the field which
prior to this period had been beating their heads against
each other for dominance in the marketplace, for dominance in
the financial markets of the world, not only New York,
but Paris and London, everywhere. Competitors. This is extremely significant
because it happened at precisely that point of American history
when business was undergoing a major ideological transition. Prior to
this period, America had grown and prospered and surpassed all
the countries of Europe as an industrial and economic power
because it adhered to the principle of free enterprise competition.
And it was in this period that a rapid transition
was taking place to the concept of monopoly and cartel,
going back, in fact, to the old world concept which
had held Europe back for all these years. Monopolies and
cartels were becoming the order of the day in America.
It was John D. Rockefeller the first who said it.
He said competition is a sin. He believed it. All
of his biographers quote him on that one, by the way,
and he and others of these industrialists of the period
were devoting all of their time to the elimination of competition.
They did not believe in free enterprise competition at all.
They knew that the road to rich, the road to
riches in power, was through the elimination of their competition.
And if they couldn't beat their competition out, then they
tried to buy them up. If that didn't work, they
joined with them in a shared monopoly. And that is
a cartel, a shared monopoly. Perhaps I should define that
word in more details, so at least you'll know what
I'm talking about when I use the word a cartel
is a group of independently owned businesses which come together
for the purpose of reducing or eliminating competition between themselves
so that they can enhance their profit margins or secure
their position in the marketplace. And they do this by
price fixing. We won't compete on price, or they divide
up geographical markets or products and services. For example, if
we were forming a cartel here, I might say, well,
I get the north and you get the South. We
won't compete. Or I might insist that I get to
produce the gizmo, you can produce the widget, and we
won't compete. I will share patents and processes, we won't compete.
And every time we agree to eliminate one area of
competition between ourselves, we move closer and closer together, until
finally we are as one industry insofar as the marketplace
is concerned, even though our component parts are independently owned,
and that is a cartel, and so that enhances our profits.
We can get more for our products and services than
we could in the arena of free enterprise competition. And
of course, the other side of that coin is that
the public pays more for those products or services than
they would otherwise, and that is just as true in
a banking cartel as it is in any other kind
of cartel. And the amazing fact emerges that when you
study this period that for the fifteen years before the
meeting on Jekyl Island, these groupings of which we're speaking
had come together increasingly in joint ventures. They were learning
how to avoid competition between themselves. They knew they couldn't
knock each other out. They had tried that it was
too costly. Now it was time to come together. And
what happened on Jeckel Island is that they formed a
banking cartel and they called it the Federal Reserve System.
An amazing fact that all these years we've had something
which most people have thought was the government operation of
some kind or another. We were told there was a
creation to protect the people, to stabilize the economy, and
it's a cartel. And the purpose of a cartel is
to enhance the profit structure of the members of the
cartel period. That's the second amazing discovery to be learned.
If we understand and analyze what happened on Jekyl Island,
back in nineteen ten. But there's a third element, which
is perhaps even the most important of all, and that
is that this cartel went into partnership with the government. Well,
cartels often do that to enforce their cartel agreements, but
in this case they did it in spades. Now, in
any partnership, there has to be a payoff. There has
to be some benefit to the partners. Otherwise they won't
go into the partnership, or if they go into it,
they won't stay in it for very long. So it's
a legitimate question for us to ask, what is the payoff?
What's the benefit to these partners Let's find out why
the government is in this partnership, and then we'll find
out why the banking cartel is in it. And in
order to find out what the payoff is, we'll have
to examine how the federal reserve system creates money. That's
the key. Now, if you're not familiar with how money
is created in America, this is going to be really
some experience to go through this for the first time.
You're going to shake your heads and say, I don't
believe this. I call it the Mandrake mechanism. After that
nineteen forties comic book character Mandrake the Magician could create
something out of nothing, wave his cape and it was
back into the void.
Speaker 4: Again.
Speaker 1: That's the Federal reserve system. Now let's take this and
break this down. I need to warn you in advance, however,
that you shouldn't try and make sense out of this,
because you'll blow a fuse if you think this makes sense.
Just remember this is your plain old American scam that
we're talking about here. It's that simple, and I'm going
to strip away all of the banker terminology and all
the accounting terminology and use just plain old plotting Engley
to make it comprehensible. In spite of that, however, I
want you to know that everything I'm going to tell
you from a technical point of view is one hundred
percent accurate in spite of the simplicity of the language. Okay,
with that by way of preliminary let's get right to
the Mandrake mechanism itself. It starts with the government side
of the partnership. It starts in Congress when Congress is
spending money far and beyond what it takes in in taxes.
How can Congress spend more money than its income in taxes. Basically,
what happens is the Congress goes down to the Treasury
and asks for let's say it's a billion dollars more
that they need this day, and the Treasury official says,
you guys got to be kidding. We don't have any
money here. You spend it all long ago. Everything we
taken in taxes is life long spent. And Congress says, well,
we kind of figured that was the case, but we
thought somebody might have dropped by and left some money.
They said, we know what we'll do. We'll borrow the
rest of it. So they go down the street to
the printing office. I noticed they're not going to print money.
They're going to print certificates, nice, big fancy certificates with
borders on the corner and it's an eagle at the
top and a seal at the bottom, and it'll say
United States Treasury bond or note or bill depending on
the length of maturity. And it's so impressive it almost
looks like money. But if you hold it up the light,
it really says I owe you. That's all they are.
And so Congress takes it and it wants the public
to step forward and loan the money in exchange for
the IOUs. Sometimes that's called buying bonds. No, you're not
buying anything. You're loaning money to the government and getting
an IOU in return. And a lot of people in
the private sector and institutions are anxious to loan money
to the government. Why because they have heard that it's
the best investment you can possibly make, the most secure investment,
because it is backed by the full faith and credit
of the United States Government, and that people aren't quite
sure of what that means, but it sure sounds good,
and so they lend the money. Well, just in case
there's anyone here in doubt as to what that means,
I'd like to explain it to you. The full faith
and credit of the United States Government means that the
federal government solemnly promises to pay you back your money
plus interest. If it has to take everything you've got
in the form of taxes to do it, it will
do it. It's a promise to tax you. And people
won't think this thing through and they think, oh, it's wonderful.
It's a wonderful investment, and I'm going to get some
of my money back. Anyway, that's a little side issue.
The government is able to borrow a tremendous amount of
money and therefore spend more than it takes in in
taxes through this process, but never enough. They always need
more than that. Not to worry, they say. They walk
further down the street to the Federal Reserve building. Now
the Fed has been waiting for them, that's one of
the reasons it was created. They walk in there and
the Federal Reserve officer opens up his desk drawer, pulls
out a big checkbook, and he writes a check to
the United States Treasury for one billion dollars and hands
it to them. How he need to stop and ask
a question, where did they get that money? A billion dollars,
that's a lot of money. Who put the money into
that into that account for the Federal Reserve so they
could give it to or to the Treasury? And the
answer is there is no money there. There's absolutely zero.
There's just a checkbook. Well, if you and I were
to do that, we would go to jail. But they
can do it because Congress wants them to do it. This,
in fact, is the payoff. This is the benefit to
the government for being in the partnership. The government can
go to the Federal Reserve and obtain instant amounts of
any amount of money they want without having to confront
the taxpayer and say we're going to raise your taxes
for this money. Directly. It would be very unpopular if
Congress had to go to the public and say, you know,
we have a lot of money we want to take
from you, folks, and it's going to cost you three
thousand dollars per family more than it did last year.
You know how long they'd last in office. So they
like this mandrake mechanism very well. The public doesn't know
that it's costing them anything. It's just how it works somehow.
So this money, this billion dollars, springs into being precisely
at the instant that the Federal Reserve officer signs the
check and gives it to the government. Now, let's see
where the banking cartel benefits from this partnership. We'll go
back to that billion dollar check and follow it. The
Treasury official deposits it into the checking account of the
federal government, and immediately all the computers start to wear
and the ledgers show that the government now has a
billion dollar deposit, a billion dollars in its account and
so therefore it can write checks up to a billion dollars.
Government checks start flowing. Let's just follow a one hundred
dollar check. Make this real simple. To the fellow that
delivers our mail. The postal worker gets one hundred dollars check,
and he looks at this and he can't imagine in
his wildest dreams that just two days ago, that money
didn't exist anywhere in the universe. But it's a government
check now, and it's very spendable. So he takes it
and deposits it into his private checking account at the
local commercial bank. Now this money is out of the
federal reserve mechanism, per se, out of the government side
of the partnership, and it gets into the private banking
side of the partnership. One hundred dollars has been deposited.
Now the action heats up. The banker looks at that,
and he goes over to the loan window and he
opens it up and he says, attention, everybody, we have
money to loan. And that's good news for a lot
of people, because that's one of the reasons we go
to the bank, isn't it to borrow money. So it's
good news when there's money available, and the banker says,
we have one hundred dollars deposited. But don't worry, folks,
we can loan you more than that. We can loan
you up to nine hundred dollars. Well, how how can
you loan out up to nine hundred dollars when you
only have one hundred dollars deposited. Well, it's not difficult
if you're in the Federal Reserve system. Here's how it works.
The Federal Reserve says that the member banks must keep
no less than ten percent of their deposits in reserve.
So there's one hundred dollars. They keep ten percent in reserve,
ten dollars, and they can loan up to ninety dollars. Right,
so we loan it to you, ma'am. You borrowed ninety dollars.
What do you do with it? Well, you want to
spend it, So you want to write a check on it.
You've deposited into your checking account, so you can write
a check. In many cases, it might be put directly
into your checking account. But now there's ninety dollars in
addition to the one hundred dollars that was deposited to
start this chain. Now we've got the ninety dollars that
was loaned as another deposit. Well, the Federal Reserve says
that you only have to keep ten percent. So we
keep ten percent of the ninety and loan the other
ninety percent, and the person that borrows that puts it
right back into the bank is another deposit. Well, the
Federal Reserve says, you only have to keep ten percent.
So you know, this goes around and around and around
to the revolving door until finally the whole action is
played out. And the bottom line is when that one
hundred dollars deposit comes in from the postal worker, the
banks in essence can loan up to nine hundred dollars
because one hundred dollars is the reserve, and that's ten
percent of one thousand, so they can loan the balance
or the difference, which is nine hundred dollars. Now, where
does that money come from, Well, same place. It springs
into being, precisely at the point where the loan is made.
It didn't exist before anywhere. Now I noticed the important
thing here. The money that's created out of nothing and
given to the government. The government spends for its purposes.
But the money that's created out of nothing by the banks,
is not spent by the banks. It's loan by the
banks to you and to me, and we pay interest
on it. Not too shabby interest on nothing. I wish
I had a magic checkbook like that, where I didn't
have to have any money, just a checkbook, and I
could write checks hundred thousand dollars all day long and
loan them to you folks, and you pay me interest
on it. You see, not too shabby at all. This,
in fact, is the payoff to the commercial bank in
the cartel. This scam has become legitimized by law, and
we're told it's a wonderful thing. We think our banking
system is wonderful. But it's a scam. Not only interest
on nothing, but perpetual interest on nothing. Because notice, once
this money is created, if you pay it back, they
have it on their ledger as a credit. They can
loan it out again to somebody else, and the whole
object is to keep loaned out. They don't like the
money not loaned out because you can't earn interest on
it when it's in the ink. Well, it doesn't do
them any good to remember, there's nothing here except ink.
In the well or electronic impulses in the computer. That's
all there is. So they're collecting interest on that. But
that's not the end of the process. That is how
money is created in America. But that's not the end
of it because it has consequences. What impact does that
have on us? Are we involved in this in any way? Well,
yes we are. I've heard people say, see, those fellows
are really smart. I guess they deserve to be rich,
as though it didn't affect them in any way. Let's
follow it. This money that's created out of nothing goes
into the economy, and it dilutes down the value of
the dollars that were already out there. It's like pouring
water into the pot of soup. It dilutes the soup.
And so the economy is diluted by these new dollars,
and prices start to go up, or they appear to
be going up. It's the process called inflation. I say
a pear to go up, because prices really don't go up,
ladies and gentlemen. What's happening is that the value of
the dollar goes down. Right, That's what we're witnessing here.
If we had a real monetary system, real money backed
by gold or silver, or anything of tangible value, coffee cups,
anything that couldn't just be created out of nothing. Behind
our money, you would find that the purchasing power of
that money would remain constant over a long period of time.
And to illustrate that point, it's interesting to know that
if we had lived in ancient Rome and had a
one ounce gold coin, we would have been able to
buy a fine toga, a hand crafted belt, and a
pair of sandals. That was the price. So today, what
can we buy with a one ounce gold coin. We
can walk into any men's store and buy a really
fine suit, a hand crafted belt, and a pair of shoes.
The real price of these items hasn't changed in thousands
of years. One expressed in terms of real money, but
one expressed in terms of these things we carry around.
We call them dollars, they're not they're really federal reserve notes.
They buy less and less and less because they keep
creating more and more and more of them, and they
dilute the economic soup. But we still haven't followed this
to the end of the trail. We've lost some purchasing
power through this thing called inflation. But how many people
ask the question who gained it? Did anybody gain our
lost purchasing power or did it just evaporate and go
up to heaven somewhere? Somebody gained it, didn't they? But
we don't know who. Let's follow it. The people who
gained our lost purchasing power were those who were at
the point where this fresh money was injected into the
economic soup. Those at the nozzle at dollars that look
the same as all the other dollars, and they have
them first, and they can spend them at full purchasing power.
But by the time the person who gets those dollars
then gives them to the next person and the next person,
it goes out toward the edge of the pot where
most of us are, and it gets diluted down. But
the ones up there at the nozzle are the ones
who have gained our loss purchasing power. Who are they? Well,
we know that the government is one of them. That's
where the billion dollar check started, isn't it. That was
the beginning of this whole process. The government spent that
money first, and then of course those who work for
the government and those who have government contracts, and those
who get grants and so forth get the next wave,
and they're not doing too bad either. And it starts
out from there. But what about on the banking side,
who got that money first off? Well, the people came
up to the loan window. They were the first ones
to get it. Now, this comes as no surprise to
anybody here. I'm sure that in times of inflation it's
a good thing to borrow. Everybody tells you that because
you say, you know that you're going to borrow a
dollar and you pay it back with quarters or fifty
cent pieces, because inflation erodes the value of those dollars.
So you know, to borrow is to gain. And the
people who don't borrow, who save, they're the ones who
are losing. But notice, however, that this gain that the
borrower gets, he has to turn right around and give
to the bank in the form of interest on nothing,
so he doesn't really gain at all. It appears to
be gain. It's paper gain, but his gain actually goes
back to the bank as interest on nothing. Now, yes,
during times of inflation, his paper assets expand, expand expand. Golly,
this real estate looks like it's worth a lot of
money right now. But then the economy contracts and he's
wiped out. He doesn't have anything. And notice that when
you go to the bank and you go to borrow
some of the nothing money, did they expect nothing from
you in return? No, they want you to sign over
and pledges collateral, your car, your house, your assets, hard assets,
not nothing assets. So when the economy contracts and you
can't continue to make those payments, they get your marbles.
So the bank will do all right, whether it's expansion
or contraction. So what's the answer to the question who
gains who got your lost purchasing power? Big surprise, ladies
and gentlemen. The two members of the partnership called the
federal reserve system. It's the government and the members of
the banking cartel. Those are the ones who got your
purchasing power. Now they're in a nutshell. Is an overview
of the Federal reserve system. And I guarantee you, ladies
and gentlemen, you're not going to read this in any
textbook on the subject. And I can also tell you
that you now understand everything there is of importance to
know about the Federal Reserve system. The payoff on the
government side is that they're able to tax their people.
And don't forget, inflation is a tax. You pay it,
you have no escape. It's a hidden tax, but it's
a tax just the same. And so the government is
able to tax the people without them even knowing they're
paying the tax. And on the banking cartel side, they're
able to collect perpetual interest on nothing. Now that is
the end of part one. Stand by, there's.
Speaker 2: More, ladies and gentlemen. We'll take a five minute break
and let's keep it.
Speaker 1: That's it, okay, ladies and gentlemen. I think this is
a time for continuation. Everyone refreshed. Anybody want to open
up a bank? All right? Part two we'll go back
to Jackal Island. We have much to learn there. In fact,
if we just analyze what happened on Jackal Island, we
can figure out almost everything that's going on today, even
though that happened back in nineteen ten. And one of
the things that they we had to resolve there was
what to call this creature of theirs. This partnership between
government and the commercial banks was not new with the
federal Reserve system. In fact, this concept was created back
in Europe in the sixteenth century, and it was perfected
with the Bank of England in sixteen ninety four. This
is the kind of thing from that date forward that
all of the governments of Europe adopted. Now they didn't
call it a Mandrake mechanism like I do. They called
it a central bank. That's the technical name for this partnership.
If you want to look this process up in a
textbook or an encyclopedia, you'll find it listed under central bank.
So the central banks were created in Europe in the
sixteenth century. It was a very good reason for that.
The kings and the princes of Europe discovered from heart
experience that they could raise the taxes of their subjects
only so far, and then there was a ceiling. They
had a tax revolt on their hands, there was resistance,
and they had real revolution or revolt on their hands,
and they tended to lose their jobs or their hits.
So that was it, folks. Forty percent forty three percent
seems to have been the natural limit. However, once they
got the central bank mechanism worked out, this was a
whole new ballgame. Now the lid was off and they
were able to collect fifty percent, sixty seventy and in
some cases eighty percent of everything that their subjects produced,
and their subjects did not revolt, did not resent it,
even because they didn't know that they were paying this
tax through a process called inflation. All they knew was
that the prices were going out of sight, and they
had no inkling that it was their government, in combination
with the private banks that were taxing them in this fashion.
And so see, this became a method of hidden taxation,
which has continued to this day to be extremely popular
with big spending governments. And so this became the modus
operandi in Europe from that date forward. Now, when they
met on Jekyl Island, it was very clear in their
mind that they were creating a central bank, but they
had a problem what to call it, because Congress was
already on record as saying they did not want a
central bank in America. I don't think the congressmen really
understood what that meant, but they had heard the phrase,
and they knew that that's what they had in Europe,
and they said, no, when it comes to banking reform
in America, we want something this unique to represent our
unique political and economics. So central bank was out. So
what to call this central bank so that no one
will know. And they talked about this on Jackal Island,
and this is what they concluded. They said, first, let's
use the word federal to make it seem like it's
a government operation. Secondly, let's add the word reserve to
make it seem like they are reserved somewhere, like it
was a banking concept. Third let's add the word system.
This was very important, far more than we might think today,
because remember, the major concern was this concentration of financial
power in New York. And they had to sell the
American people on the idea that this was a diffusion
of power over a system of banks. And so they
talked about ten regional banks, and finally they said, no,
that's not enough. We'll have twelve regional banks and diffuse
the power away from New York, or at least make
it appear that way. And they'll build those big buildings
in all these regions, and the local yocles can come
and look at the buildings and say, golly, we got
one of them out here too, And the impression was
that because these buildings were out there, that the power
was pulled away from New York and diffused throughout a
system of federal reserve banks. Well, as you've heard said
many times by now, what we wound up with was
not federal There are no reserves. It's not a system
at all in the sense of diffusion of power. And
the federal reserve banks aren't even banks. So on all
four words, we're dealing with appearances of the fourth kind.
Brilliant strategy. The next step was to sell this creature
to the American people, and the first draft of the
Federal Reserve Act was called the Aldridge Bill, sponsored by
Senator Aldridge, of course, and this was against the good
advice of Paul Warburg, who said, Nelson, if you put
your name on this bill, it's going to get voted
down in Congress because you are so closely identified with
the power of big business. It'll be voted down. And
apparently Aldridge's ego was too big. He must have said, well, no,
after all, I'm respected in the Senate, and i am
the chairman of the National Monetary Commission, And for whatever
reason he insisted on having his name on it. I
think he wanted to go down in history as the
originator of the federal reserve system. But Warburg was right
voted down thumbs down right away because he was a
representative of big business. Well, this was a minor setback.
They took their bill, they scrambled the paragraphs around a
little bit, they took Aldridge's name off of it, and
found a couple of Democrats to sponsor the bill. Now
this was different. See, Aldridge was a Republican, and everyone
knew that the Republicans represented big business. But they also
knew that the Democrats represented the common man, the little guy,
the fellow on the assembly line, like Ted Kennedy. So
they found a couple of millionaire Democrats to sponsor the bill.
They got Carter Glass from the House and Senator Robert Owen,
who was a very successful banker. And now they sponsored
the bill of the Glass Owen bill. And this was different.
This was a Democrat bill, and it began to receive
very popular consideration in Congress. Next, Aldridge and Vanderlipt began
to give speeches and statements to the press condemning the
bill that they had written. They said, this will ruin
the banks, this will be terrible for the nation. And
by the time this was printed in the newspapers, the
average person read that and said Oh, I guess the
big bankers don't like this bill very much. It must
be pretty good. You know. You have to give these
people credit. They were not stupid. They didn't get to
be where they were through stupidity. They understood mass psychology,
they understood politics, and they played their cards exceedingly well. Next,
the same individuals who were condemning the bill were privately
financing it. They were behind all the lobbying activities in Washington.
They personally paid for the creation of what was called
grassroots study clubs that came up all over the country,
held public meetings and disseminated brochures extolling the virtue of
the Federal Reserve Act. They gave large amounts of money
to some of the better known universities and created new
departments of economics. Hen picked their own people to be
the professors to chair those departments, and then those men
began to speak publicly and write scholarly essays about how
wonderful the Federal Reserve system was. And then, at the
insistence of Paul Warburg, who was always the master strategist
in this, they added several good provisions to the Act.
When I say good, I mean provisions which restricted the
power of the Federal Reserve system to create money out
of nothing, the kind of provisions you and I might
have endorsed. And Warburg's associates said, Paul, what are you doing.
We don't want those things in there. This is our bill.
And his response was classic. He said, relax, fellows, don't
you get it. Our object here is to get the
bill passed. We can fix it up later. That's exactly
what he said. When no one is looking, everyone is
focusing on the bill. Now, let's get it in fix
it up later. And indeed he was right. It was
because of provisions such as those that they won over
the support of William Jennings Bryan, who was the leader
of the populist movement, a real defender of the common
man in his mind at least. He looked at that bill,
and previously he had opposed it because he said it
was the bill of the bankers. They would create money
out of nothing, he said. And he looked at those
provisions and he said, oh, well, I guess with those
in there, I can support the bill. And with the
elimination of his opposition, the road was cleared, and it
was inevitable. What would happen. They did fix it up later.
Since the Federal Reserve Act was passed, it has been
a over one hundred times, and nobody has noticed. All
of those original provisions which were sound, were long ago removed,
and many many more have been added which greatly expand
the power and reach of the Federal Reserve system. A
big bunch was added back in nineteen eighty. It just
extends the power of the federal government to areas that
you can't even imagine. We're talking previously about being able
to create money out of government debt, American government debt,
they can now create it out of foreign debt any
country in the world. Any country in the world can
offer a bond an IOU, and our federal Reserve system
is now empowered by law to convert that into American money.
Even corporate debt, they can convert that into American money.
There's no limit whatsoever, and nobody has noticed. So Warburg
was right. They fixed it up later, and surprising therefore,
no surprise therefore that with this kind of professional deception
and strategy that a great deal of support was gained
for the bill, And on December twenty second, nineteen thirteen,
it was passed into law and signed into law the
next day by President Wilson, and the creature from Jekyl
Island finally moved into Washington, d C. Well what did
we get? Let's stand back from the creature now a
few paces and survey its general form. We got a
corporation chartered by Congress which was given an exclusive franchise
to create the nation's money. We got a mechanism whereby
Congress has been able to raise unlimited amounts of taxes
through inflation without the American people even knowing that they're
paying the tax. And we got a mechanism whereby the
banks can earn perpetual interest on nothing. I'd like to
turn our attention now to an intriguing question, which is
who owns the Federal Reserve System. You often hear this
topic discussed on talk radio. Whenever the subject of money
or the Federal Reserve comes up, Inevitably somebody will get
on the telephone and say, did you know that the
Federal Reserve System is not a government agency at all.
It's a private corporation. It's run by the private banks.
And what we need to do, they'll say, is to
abolish the abolish the fed and turn it over to
Congress so it can be run for the benefit of
the people. Well, I'd like to deal with that because
this involves a half truth and a non solution. Let's
start with the half truth. First. It is true that
the Federal Reserve System is not any of the federal government.
As I mentioned before, it is a corporation chartered by Congress,
and like all corporations, it has stock certificates, and these
certificates are held, in this case by the member banks
within the system. All the banks, remember this is a cartel.
Independently owned banks make up this system. They hold the
stock certificates. Now, up to that point, it looks as
though this has all the attributes of a privately held corporation.
But that's as far as it goes, because these stock
certificates do not carry with them any of the powers
of private ownership. For example, the holders of these stock
certificates cannot sell them. Well, if you can't sell something,
you don't really own it, because that's one of the
tests of ownership, is your freedom to dispose of it
in any way you wish. Also, the larger banks have
put up more capital into the system than the smaller banks.
It's not a lot of money, but it's related to
their assets. The larger banks put up more, have more
stock certificates than the smaller banks. And yet, regardless of that,
all of the banks have one vote. So there's another
violation of the principle of private ownership. Furthermore, that vote
doesn't buy anything of substance. These banks cannot vote for
their national management. The Federal Reserve System is run by
the Board of Directors of the Federal Reserve System, the
National Board and its chairman, all of whom are appointed
by the President. The stock certificate holders have no voice
in that whatsoever. The only thing they can vote for
are the members of the board of their local regional
banks so called banks. But guess what. The chairman and
the chairman of those regional banks are appointed by the
National Board. Guess what. They can vote for their officers
of the regional banks. But they can be overridden. The
National Board has veto power over those people. You get
the picture here. In spite of this sales job, of
this diffusion of power over the twelve regional banks, these
banks have no power at all. It's all concentrated in
the National Board. The only thing that the regional banks
can do, according to their charters of any substance is
to set the interest rates within their regions. But guess what,
even that is subject to veto by the National Board.
So you come to the conclusion that these people at
the National Board are not authorized to do anything except
play golf. See that's the way it was designed. This
fiction of this diffusion of power throughout the system was
just to sell it to the American people in nineteen thirteen.
It's a vestige. It serves no function whatsoever today at all,
and was never designed to. So we don't have a
corporation in the strict sense of the word, a privately
held corporation, and we don't have a government agency in
the strict sense of the word. So what do we have. Well,
the fact is we have hybrid. It's a mixture. It's
half government and it's half private. It is, in fact,
exactly what you would expect it to be, considering that
it is a partnership between the government and a private cartel.
It's half government and it's half private. So this structure
is unique to reflect its unique form. But this isn't
so important as to who owns it. How many shares
of stock and what the voting is. The question is
what does it do in so far as merely abolishing
the FED, asny some people have said. Many people have said,
abolish the FED and turn it over to the Treasury,
or turn it over to Congress so it can be
run for the benefit of the people. Always make sure
you say it's for the people, and that makes it okay.
It would do the same thing over there that it
does over here. It's not a question of who owns it,
it's what does it do. And as long as it
is a central bank, which means as long as it
has the power and the mandate to create money out
of nothing, that's what it's going to do. It's going
to create money out of nothing. And I'm sure the
same people will run it over there that run it
over here. We must remember that all of the central
banks of Europe are in fact direct agencies of their
respective governments. They are not these hybrid organizations over there
that they are here. Because there was no necessity to
create that myth over there. They just went right for it.
It's an agency of the government over there, and they
all do exactly the same thing as our federal Reserve
system does here. So you see, just turning it over
to Congress without taking away its power to create money
out of nothing is a non solution. And I'm sure
that the people who run this would would be willing
to use the same kind of deception they did back
when it was created. They would pretend to resist that idea,
They would fight it with all of their might, at
least in public, knowing that they could yield on that
and have it turned over to the Congress and they'd
still have control over it over it. So that is
a non solution. I'd like to talk now about what
the objectives of the Federal Reserve System are, because if
we're going to say it's going to if it were
turned over to Congress, it would pursue the same agenda.
What is that That agenda? Extremely important thing to focus
on because we're told that the purpose of the Fed
is to stabilize the economy, and everybody kind of believes that.
I mean, when Greenspan comes on and says, well, we're
raising interest rates, now, why to stabilize the economy, right,
to prevent inflation? In other words, to protect you, folks,
to protect you, and we buy it. Well, one of
the most widely used textbooks in our schools right now,
textbook on economics, written by Paul Samuelson, explains it this way.
It says, quote, the federal reserves sprang from the Panic
of nineteen oh seven, with its alarming epidemic of bank failures.
The country was fed up once and for all with
the anarchy of unstable private banking. It's partly true, It's
just they came up with the wrong solution. Just because
there's a problem doesn't mean that any old solution that
somebody has to offer is the best. In fact, it
may be a non solution. As we were talking about,
just turning the system over to the government to run
is a non solution. Well, let's take a look at this.
If the purpose of the federal reserve system is to
stabilize the economy, let's give it a report card. Let
me see how well it's done. Since it was formed.
It has presided over the crashes of nineteen twenty one
and nineteen twenty nine, the Great Depression of twenty nine
through thirty nine, recessions in the years fifty three, fifty seven,
sixty nine, seventy five and eighty one, a stock market
black Monday in eighty seven. We all know that corporate
debt is soaring. Personal debt is greater than ever before.
Business and personal bankruptcies are at an all time high.
Banks and savings and loan associations have failed at a
rate greater than ever before in our history. Interest on
the national debt is now consuming half of all of
our taxes. Heavy industry has been largely replaced by overseas competition.
We're facing an international trade deficit for the first time
in our history. Seventy five percent of downtown Los Angeles
and other large metropolitan areas are now owned by foreigners,
and over half of the nation right now is officially
in a state of recession. Now, that is the report
card of the Federal Reserve system after eighty years of
stabilizing the economy. And I don't think it's even controversial
to say that the Federal Reserve has failed to meet
its stated objectives. Controversial question is why has it failed?
And my answer to that is because those have never
been its true objectives at all. What are its true objectives? Well,
what are the objectives of any cartel to make money,
to enhance the profit margins or the members of the
cartel and to stabilize its position in the marketplace to
prevent competition. Those are the objectives of any cartel, and
if our analysis is correct here, we'll find that this,
in fact has been what the Federal Reserve System has
accomplished for itself and its component members. To be more specific,
it's possible to go to the period of Jackyal Island
and read the papers and speeches that were done by
the people on Jackal Island and their associates. The big
banks were concerned over three things. Among other things, but
the three main things were as follows. They said they
wanted to reverse the erosion of their power away from
New York. That's right, just the opposite of what the
Federal Reserve System was supposed to accomplish. They wanted to
keep it in New York. They were concerned because as
the nation was spreading westward and southward, new banks were
springing up all over the frontier, and more and more
of the capital assets of the nation were moving in
that direction. Yes, they still had the lion's share, but
every year the percentages went down a little bit, and
they could see where that chart was going, and they said,
we must put a stop to this now while we
still have power. Remember John D. Rockefeller said it, competition
is a sin, and competition from the new banks in
America was something that had to be stopped. See, one
of the purposes of the Federal Reserve system was to
control the competition from the new banks. And this is
a good place to emphasize that I'm talking about the cartel.
I'm primarily talking about the big banks in New York
that created it, and the international banks as well, the
ones in Europe. I'm not talking about your bank down
the street that ever since the system was created, has
struggled and struggled under the regulations of the system, which
were designed primarily to some extent to squeeze the competition
out or to keep it in its place. And you've
seen that process going on throughout the years. We have
fewer and fewer banks, all the time, little ones getting
gobbled at by the big banks. So that was objective
number one. Number two. They wanted to reverse the trend
of what is called private capital formation. What that means
is simply, this means that people in those days were
using their own savings instead of going to the bank
and borrowing. Corporations in particular, found that it was better
for them to withhold some of the dividends from their
stockholders each quarter, put that money into a sinking fund,
let it accumulate, or let the capital form, as they say,
capital formation, and then use their own money to build
the new factory or launch a research and development project
or whatever, instead of going to the banks. And the
banks were extremely concerned over this trend. They racked their brains.
How do we get businesses to come back to the
banks and borrow money again? And their answer was quite simple.
If you were a banker, you would know how to
do that. The answer is to lower interest rates, to
make those rates so attractive that you'd be crazy not
to go to the bank and borrow the money. At
those interest rates. It's so much easier than saving. Well,
why didn't they just lower interest rates? Because that was
nineteen thirteen, ladies and gentlemen, and they couldn't. It was
real money in those days. It was backed by gold
and silver. There was no lever on it, no men,
no group of men, no politicians, no bankers could arbitrarily
affect interest rates. Because it was backed by gold and silver.
The money was and they couldn't just create it out
of nothing. You see, under those conditions, interest rates are
the product of the forces of supply and demand. In
a free market economy, nobody has control over it. And
that's why the politicians hate money that's backed by gold
and silver. They cannot manipulate it. So their challenge was,
how can we artificially depress the interest rates below the
natural level that's produced in the free market. And the
solution was they said the nation needed what was called
a flexible currency. They said, this is what industry needed
to prosper by flexible currency. You still hear that phrase today,
the virtues of a flexible currency. Well, what is a
flexible currency? You need a dictionary. Well, it's not paper
money that folds. What that means is money created out
if nothing. That's what a flexible currency is. See, the
trick is not particularly hard to figure out here. If
you are creating money out of nothing, you don't have
to charge an awful lot of interest on it to
show a profit. See, it's as simple as that. So
with a flexible currency, now they have a lever on
it and they can jack the interest rates down, down, down,
so that it's attractive and they're still making plenty of
profit on it because it didn't cost them anything, and
they have reversed the trend toward private capital formation. And
the third objective that they spoke about in those days
was how to pass on the inevitable losses within the
banking system, to pass those losses on to the taxpayer
in the name of protecting the people. Now, let's give
the Federal Reserve system another report card with these objectives
in mind, and see how well it has done. Did
they keep control over the banking system and the monetary
system in New York? And yes they did. Anyone who
knows how the markets function. It has always remained in
New York. In fact, it's even more so now in
New York than it was then. Yes, there are plenty
of large banks in the nation, in the South and
in the West, but these are small compared to those
giants that are in New York. In fact, that are
astride the world, with offices in Pete King in Moscow
and affric everywhere in the world. The giants are in
New York and they have been running the show all
of these years. A few years ago, there was a
book that appeared on the market called Secrets of the Temple,
written by William Grider and published by Simon and Schuster.
It was a bestseller and it was advertised as a
scathing attack against the federal reserve system. Well, when I
heard that, I could hardly believe my eyes and my years.
A scathing attack against the federal reserve system published by
Simon and Schuster. This is one of the biggies. I
thought to myself, Well, a miracle has happened. I guess
I don't have to finish my book because it's done.
Somebody did it. So I ran down and I got
a copy of the book, and I went through it,
and I was amazed at what I found on two points.
First of all, I was amazed because Grider had his
history very well done. Indeed, it was accurate. I didn't
expect that. I thought it might be a whitewash of
some kind, but it wasn't. It was very good. I
knew about this because I was right then in the
process of researching it, and Grider had it. And on
this point of the concentration of power in New York,
I'd like to read to you just a couple of
sentences from his best selling book. He's talking about nineteen
thirteen here, and he said, at the time, the conventional
wisdom in Congress was that the government institution would finally
harness the money trust, disarm its powers, and establish broad
democratic control over money and credit. The results were nearly
the opposite. The money reforms enacted in nineteen thirteen, in fact,
helped to preserve the status quo. To stabilize the old order.
Money center bankers would not only gain dominance over the
new central bank, but would also enjoy new insulation against
instability and their own decline. Once the FED was in operation,
the steady diffusion of financial power halted. Wall Street, maintained
its dominant position and even enhanced it, which is now.
The second thing that amazed me about his book was
his conclusion, after demonstrating that the Federal Reserve system had
always acted against the public interest, and that it was
designed to do that from the beginning, what do you
suppose his conclusion was regarding what we should do about it?
Abolish the FED? No, No, nothing that extreme. Well, how
about a major overhaul? No, No, not necessary, he said.
You see, folks, it's all so complicated, but we're learning
as we go, and we're getting better at it. Relax
everything's under control. All we need now are wiser men. Well,
there you have an interesting situation. You see. That's the
kind of powder puff solution that it takes to be
published by Simon and Schuster or any of the other
major publishing houses which are firmly locked into the financial
web of the money trust in Wall Street. There's no
way in the world that these major media outlets are
going to allow anybody to come up with a real
solution to the problem. I need to digrass here just
for a second, because we have a lot to learn
from this, not just in the field of the Federal
Reserve system, but in many other areas of concern to
our nation and these critical days ahead. It's not enough
just to point with alarm. It's not enough just to say, well,
this is historically true, and it's not enough to lead
the charge if you don't lead it anywhere. See, these
people don't care how much you expose their scams, or
their conspiracies or their plots. If you have no solution,
if your only solution is well now I told you
about it for now, just vote Republican. You know, if
that's it, nothing's going to happen.
Speaker 5: Is it.
Speaker 1: Till we look behind party labels. In other words, wiser men,
whatever that means. This is controlled opposition, ladies and gentlemen,
and it's something that's been going on for a long time.
These people are smart enough. Remember they sold this Federal
Reserve system in the face of opposition, and they did
it by deception. They're smart enough to control their own opposition,
or to create their own opposition if necessary, so they
can lead it nowhere. I'll just leave that thought with
you because it's something we need to be very aware
of in the critical days ahead. Let's get back to
the Federal Reserve. It gets an A on its report
card for objective number one, which is to maintain control
over the money markets in New York? Did they reverse
the trend toward private capital formation?
Speaker 4: Boy?
Speaker 1: Did they ye. With interest rates brought down periodically to
such attractive levels, individuals and corporations have been enticed away
from saving their own money and going to the bank.
You'd be a fool not to get that money at
those low interest rates. Of course, then the economy contracts
and things go a little sour now and then and
the fruit falls from the tree and they pick it up.
They get all your marbles. They get all your assets,
your houses, your cars, your factories, your stocks, and your bonds.
That's one of the reasons we've had so many bankruptcies
in the decades past. Even those companies today which are
hanging in there by the skin of their teeth because
it's all they can do to make payments to service
their debt to the banks. Notice that many of those
companies are now sending more money to the banks as
interest on their loans, then they send to their stock
as dividends on their stocks. Think about that. The banks,
which created the money out of nothing, no effort at all,
no risk really of anything, are making more money out
of these giant industries than the people who worked for
the money sacrificed, saved the money, invested it, and risked it.
And yet the money is going to the banks. Yes,
the Federal Reserve system in fact, gets an A on
its report card for reversing the trend toward private capital formation.
And they did it with a flexible currency, just as
they had planned to do it. And what about the
third objective, which was to pass the losses onto the
taxpayers in the name of protecting the people. That is
something which I call in my book operation Bailout, the
game called bailout. You may have noticed every time a
large bank gets into trouble, not the small banks. They're dispensable.
A large banks. When they get into trouble, they're going
to be bailed out by the government, which means by
your tax dollars in mind, in the name of protecting
the people. It doesn't make any difference if there's a
if it's a private corporation or a city, municipality, or
a third world country whoever has borrowed megabucks from these
banks and now can't service their debt anymore. They have
trouble making those interest payments, which is all banks care about.
They don't want you to pay back the loan because
they have then just the problem of finding somebody else
to lend it to. They don't want you to pay
back your loan. They want you to pay the interest
on the loan and keep those loans going forever. And finally,
when people have trouble making those interest payments and it
looks like the bank is going to have to write
it off of its books, what happens. They go to
Congress and they say, well, this corporation that's having trouble
making its interest payments. We can't let that corporation fold
because look how many thousands of jobs would be lost
and would go on welfare. There would be despair. We
must protect the people. Or if it's a third world
country that can't make its interest payments anymore, they said, well,
we can't allow that to happen. We must make those
payments for them in some way or another. Because if
that venerable bank had to write that huge loan off
of its books, it would technically be bankrupt. And if
it were bankrupt, it might have to close its doors.
If that bank were to fall, it's such a huge bank,
it'd be like a domino, and it might knock the
other banks down too, and we could have a major
economic crisis on our hands, and look how the people
would suffer. And so Congress dutifully always responds. Remember Congress,
as the partner in this scam, always rushes in and says, yes,
we can't allow those bad things to happen to the people.
And so they vote the money to guarantee the loans
or make outright payments in some very creative fashions so
that the interest can continue flowing to the banks. Some
of the more memorable games you may have missed over
the recent years. Penn Central Railroad was bailed out in
nineteen seventy, Lockheed Corporation that same year, Commonwealth Bank of
Detroit in nineteen seventy two, New York City in nineteen
seventy five, Chrysler in nineteen seventy eight, First Pennsylvania Bank
in nineteen eighty, Continental Illinois the largest of the bank
so far in nineteen eighty two. And of course we
know how many Third world countries out there have had
their debts funded. The money comes from the IMF World
Bank so they can continue making their payments. And the
IMF World Bank gets their money from the Federal Reserve System,
and the Federal Reserve System gets it from us in
the form of that Mandrake mechanism and the hidden tax
called inflation or direct taxes in some places. The Federal
Reserve System gets an a on its report card on
all three of its true objectives. My final topic is
a short one and it has to do with usury,
an interesting concept. Usury used to be defined in ancient
times as interest on a loan. Period any interest on
any loan was usury. Well, it's been redefined in modern
times as excessive interest on a loan in view of
the fact that when people earn their money and they
save it, they sacrifice the use of it, and then
they loan it to somebody else for their venture, they're
entitled to some reasonable return on that sacrifice. Some interest
return is it seems fair and logical to most people.
So the question today is excessive interest? What is that?
It was Thomas Edison who said people who will not
turn a shovelful of dirt on the project, nor contribute
a pound of materials will collect more money than will
the people who will supply all the materials and do
all the work. When I read that, I wondered if
that was true. I took my calculator and I ran
the numbers. You might try this sometime. If you assume
a one hundred thousand dollars home to be built, and
the thirty thousand dollars is to go for the land
and the architect's fees, and the building permits that kind
of thing, seventy thousand dollars to go for the actual
construction of the house, the materials on the labor. You
assume further that the buyer goes to the bank, puts
twenty percent down, takes out a ten percent loan for
thirty years. Punch in the numbers and you will see
that he will pay to the bank in interest one
hundred and seventy two thousand, seven hundred and forty one
dollars compared to seventy thousand dollars for labor materials. In
other words, as Edison said, two and a half times
more will be paid to the banks who did nothing
than for those who provided all the labor and all
the materials. And you may say, well, yeah, that's true,
but don't forget the time value of money. Reasonable interest
is rational. People need to be compensated for the sacrifice
of their money over thirty years. That's a long period
of time. Wait a minute, not this money, ladies and gentlemen.
Nobody earned this money, Nobody saved this money, Nobody sacrificed
anything for this money. This money was created out of nothing.
And I suggest that one hundred and seventy two seven
and forty one dollars interest on nothing is excessive. I
think we need to focus on this issue. We need
a new definition of the word usury. Any interest on
any loan of fiat money, meaning money created out of nothing. Now,
this example of one hundred and seventy two seven and
forty one dollars unearned interest on a one hundred thousand
dollars home is like a grain of sand in the Sahara.
Look around the desert. All of the other homes of America,
all the factories, all the machinery in the factories, all
of the high rise buildings, the hotels, all the aeroplanes,
the automobiles, the farm equipment, the farm structures, everything that
we have. You were looking at a similar relationship here.
This is staggering. Consider the amount of money that is
in this huge, wide river of wealth flowing into the
banking cartel because the money was created out of nothing.
It's such a wide river of wealth you can't even
think across it in your mind. It's perpetually moving into
the banking cartel. This is a dead short across the
productive capacity of America. This is money that should be
going to the people who produce and who create, instead
of being siphoned off through a scam. Think of what
our standard of living could be if it weren't for
this dead short across our economy. Well, Where is this
money going? This river? Where is it flowing? You get
the mental picture that maybe it's going into a lake
somewhere or behind a dam. All this money is rising, accumulating,
people are getting richer and richer and richer. No, not so,
it's not how it works. They're spending the money, what
are they spending it for. Whether they're not spending it
for more yachts and more mansions, that's not it. I
mean they got rid of the mansions back on Jackal Island.
They got bored with those things. Once a person has
all the money that they can possibly use for the
material pleasures of life, what is left.
Speaker 5: Sure?
Speaker 1: Power. Absolutely, they are spending this money for power, ladies
and gentlemen, to acquire power over you and me and
our children. They're literally buying up the world with it.
But I don't mean they're buying up the real estate
or the hardware. They're buying up control over people. Technically,
in sociological terms, they're buying control over the power centers,
which means those groups and institutions through which people live
and work and follow leadership and accept information. People are
always associated in groups, and they work in groups. They
move in groups. And these groups have heads of them, leaders,
and this money has been going for many years to
acquire influence, if not control, over the leaders of these
power centers in society, so they can therefore indirectly influence
and control you and me specifically. That means they had
been spending this river of wealth very freely to buy
control over politicians, political parties, television networks, cable networks, newspapers, magazines, publishers,
wire services, motion picture studios, universities, labor unions, church organizations,
trade associations, labor unions, tax exempt foundations, multinational corporations, Boy Scouts,
Girl Scouts, you name it, make your own list. I
guarantee you if you have a large influential organization which
influences people, you will find that this river of wealth
has been flowing partly into an attempt to acquire control
over the leadership of these institutions and organizations, especially those
which are offered as opposition, especially those which supposedly are
to stop this whole process from happening. Now, this has
not only been going on in America, but this has
been going on in every nation of the world, pretty
much in the industrialized nations. As it has gone on here,
But I'd like to call your attention to what's been
happening in the so called third world or the underdeveloped nations.
This process is now complete. It's not going on, it's finished.
They literally have bought those nations. Have you ever wondered
what's going on there with the IMF World Bank. Every
once in a while, on the back page of the
newspaper you read that Congress once again authorized another hundred
billion dollars or so to go to the World Bank,
and then it explains very carefully that this money is
being used for humanitarian reasons, is being used to uplift
the standard of living of these poor people. That is
an appearance of the fourth kind if you ever saw one.
It's not being used for that at all. If it is,
they're not doing a very good job, because after all
these years, you cannot point to one of those countries
which has had its standard of living raised one iota
by this vast expenditure of money, because it was never
designed to do that. The money does not go to
the people, It does not go to the industries or
the businesses of those countries where it might have a
chance of raising the standard of living. It goes to
the politicians, doesn't it. It goes to the governments of those countries,
and it is used specifically to perfect and strengthen the
control mechanisms over their people. Usually this starts out that
starts out as an inefficient dictatorship, but by the time
they get the un money, it ends up as an
efficient dictatorship. They have a better organized and equipped army,
they have a better paid bureaucracy, more people in the bureaucracy.
They have more ways of controlling their subjects. They have
food chains that they can offer to their friends and
deny it to their enemies. This money is used to
build totalitarian systems in every country that you want to
point to and analyze. See these people, these leaders of
these countries, for the most part, couldn't care less about
the standard of living of their subjects as long as
they live well. They live in their mansions, have their yachts,
their jetair aircraft, and they go to New York and
live in the Waldorf Astoria while they attend United Nations meetings.
They're very happy with that. They have no ideology communism, socialism, fascism, capitalism.
What difference does it make? Where's the money? That's it
with these people. We know how welfare families in this
country can be second third generation families, and there's no
hope at all of getting them off the dole because
they can't imagine any other way of life. This happens
at the international stage too. We're dealing with countries now
that are second, third, in some cases fourth generation welfare governments.
They don't know how to survive unless that money comes
free through the International Monetary Fund and the World Bank, means,
from us. There's no way in the world they're going
to break free from that. These countries, ladies and gentlemen,
have already been purchased lock stock and beryl in this fashion,
and they are now in place in the new world order,
and they're simply waiting for us to show up. And
that's the other side of the coin, because not only
does this transfer of wealth to these countries from us
not raise their standard of living, but it does in
fact help to lower ours. And this too is part
of the plan. A strong nation is not a candidate
for surrendering its sovereignty. But if a nation can be
brought to its needs, if it is hungry, desperate, it
has chaos on its street in its streets, if it
has political turmoil, then the people in that nation will
much more likely accept any solution that's offered to them
by their government or by a world government. If there's
anarchy in the streets, as we saw in Watts in
Los Angeles, people were joyous when the soldiers showed up.
They were joyous because this now was an into anarchy.
It was a dress rehearsal. They won't care whether the
helmets on these people are blue or brown. If it
says UN on the side, that won't make any difference.
They'll say thank God for the UN finally brought restored
peace to our streets. And if people are hungry and
they're out of work and they don't know what to
do and the economy, they'll be so thankful for a
UN monetary unit which has purchasing power a little bit
thank God for this UN money because the old American
dollars that put don't know what to do with it.
This is the plan, ladies and gentlemen, to weaken America.
And so that's the process. And I'm mentioning this because
I want to emphasize to you that what is going
on here has nothing at all to do with wealth.
The name of the game now is power. Well, now,
what are we going to do about this? Obviously, if
we just restrict our attention to the subject, which is
ours tonight, the federal reserve system, the answer is clear.
We have to slay the creature. But how are we
going to do that? The creature was created by Congress,
and that's how it's going to be slain. Congress can
do it and will do it if we build enough
fire under those chairs in Washington. I think it was
Clyde Watts. General Clyde Watts years ago said he was
speaking of judges in those days, but he could have
well as well talked about congressmen. He said they may
not see the light, but they can feel the heat,
and this is true. I don't know if you folks
know well, I know many of you folks here know
all about the trim committees, which are part of the
John Birds Society. They have proven themselves to be excellent
ways of getting some of these big spenders out of Congress.
It just happened, we saw, but I think it was
thirty of them replaced entirely because of trim activity. But
believe me, it had a lot to do with it.
This is something that works. And even those that that
didn't come up, that didn't get replaced, they're having their
voting records change. I don't I don't have the name here, unfortunately,
but I heard just the other day there was some congressman.
We had the letters shown to us.
Speaker 5: There.
Speaker 1: Here was a guy with his voting record was it
was very bad. He was voting for big government and
higher taxes. And the Trim Committee started to hand out
his trim bulletins in his district. And it was at
a gun show and he came over. He says, take
those things off the table, and he was irate. He said, well,
we can't do that. Congressman. That's your report card, you know.
And he wrote a real nasty letter or two, and
they had copies of it, and he said, you know,
I think that these trim bulletins are good for one thing,
and that's to line the bottom of the birdcage. That's
what he said. The next election, his report card was
all good. He decided I can't get rid of these
trim bulletins. He's changed his voting and the next report
card was good. He straightened out he had no particular principles.
But these fellows put their finger to the wind and
they can tell which way it's blowing. If he wanted
to be re elected, he had to get into step.
And I know that a lot of these people go
around saying, well, I've been trying to warn my constituency
there's danger for many years once the fire is built
under their seats. So that is a very important program,
and we can do it simply by exposing the voting
records of these people and not just taking their words. Now,
all of this, of course, this whole program requires an
informed electorate, and that doesn't just happen. You don't inform
the electorate just by wanting it to happen. You have
to have quality educational materials. You have to know that
they're accurate, you have to be able to rely on them.
You have to have an organization to prepare and distribute
these materials. They don't go out on their own. I mean,
I could have written this book, for example, and it
would have just stacked up in my garage without the
Speaker's Committee, without the Bird the Bird Society's programs and
its chapters and its people in place, it's coordinators. It
takes an organization to make these things happen, and of
course not the least of which it takes leadership which
has proven its ability and its expertise, particularly its integrity,
so it can offer real solutions instead of non solutions,
and leadership which is not going to be purchased and
run by the opposition. And of course that is the
mission of the John Bird Society. If there's anybody here
who's not a member yet, I just want to tell
you that the Society is an ideological army and the
time has come to enlist. I think it was Patrick
Henry who put it pretty well. He said, our brethren
are already in the field. Why stand we here idle? Now?
The bad news is that time is running out. It
used to be that I told people that about some
of these problems, and they would say to me, could
never happen in America. It's just exaggerating, you know. And
now they say, how much time do you think we
have left? Because you can see it. It's all around us.
The new world order is being built around us. We
have a world army being built, a world court being built,
a world taxing authority being built, a world trading authority
being built, it's being built all around us. You realize
right now as we speak, over half of our standing
military is now serving under foreign officers. This thing is
going rapidly, ladies to gentle So we're running out of time.
But the good news is we still have time. We
still have time, and we have the freedom to work.
We can do it if we'll work like the Dickens,
like our freedom and our lives depended upon it. They do.
That's precisely what does depend on it. So instead of
being sour about how late the hour is, we should
rejoice over the fact that we still have freedom. We
still can meet like this, we can hold public meetings,
we still have elections, we can still throw these scoundrels out.
So what we need to do now is just get
to work and do that which we must do. We
can still overthrow the government of the United States every
two years without firing a single shot it we'll simply
discharge the responsibility of citizenship which comes along with being
free men. So that's my message with you, ladies and gentlemen,
and that is that whatever it is you plan to
do for your freedom or your country, do it now.
And a good place to begin is to send Epictatus
back to Phrygia, and let's convert that mammoth appearance of
the fourth kind into a disappearance of the first kind.
Speaker 5: Thank you.
Speaker 4: You're listening to the Fact Hunter Radio Network.
Speaker 1: Just the facts, mammo.