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What is the Federal Reserve system? How did it come into existence? Is it part of the federal government? How does it create money? Why is the public kept in the dark about these important matters? In this feature-length documentary film, The Corbett Report explores these important question and pulls back the curtain on America’s central bank.
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Congratulations to James on an excellent documentary. The incomprehensible nature of our money systems is laid bare as the scam it is. The so called regulator is exposed as a banker’s cartel and its phoney history shown to be a pack of lies. Everyone needs to know the facts of the Federal Reserve, but so few do. This film will be a great aid in educating those who need the truth, which is everybody. Our politicians, media and schools refuse to discus this issue, so it falls to us to spread the word. It mostly falls to James of course, but we can do our part by sharing this with anyone we think will listen.
Thank you very much for this help, Andre. It is very much appreciated. The subtitles have been added to the YouTube version of the video and I have tweeted it out here:
https://twitter.com/corbettreport/status/844032278762209280
Today’s the 4th of July.,2024. Almost the 10th anniversary of this Corbett Report post.
Acquaintances from overseas always send the “Happy 4th of July” text message by around midnight (due to a 7-8 hour time difference) of the 3rd to the 4th,waking me up.
I go and look for this video on YouTube (published by Constitutional Law, https://youtu.be/U5IyUFqUN88?si=xreFQiK_Mg_X7qhV) and send them the link, saying:
“Thanks, [John Doe] . I surely appreciate it; but I must let you know that many Americans only take the 4th of July NOT as a celebration, but as a commemoration of a ‘nice try’ on getting the monetary system back into the hands of the people.
“The current monetary system (the ‘Federal Reserve System’ [also known as ‘the Fed’ ] – – established over a century ago) went back to the same type of private hands that took over the Bank of England.
“The Fed is a private corporation. Only its Board of Governors and the Fed Chairman are known to the public ; but no one is allowed to know who owns such private corporation that even the US Supreme Court recognizes as a private entity that is not run by the Federal Government.
“We are not truly happy about it. The only ones who ‘celebrate’ the 4th of July are those who mistakenly believe that the Fed is part of the Federal government ; but it is not.
“The Fed is as ‘federal’ as Federal Express.
“The Fed’s employees are trained to say that the Fed is a ‘quasi public / quasi private’ entity. When asked why such claims, one said that because the US President (who is elected by the Electoral College) selects who is the next Chairman.
“But this is only partly true. All candidates to the post of Chairman are provided by the Fed, and the Chairman can later on work for the federal government upon the conclusion of their term.
“Now I want to clarify that I am NOT criticizing anyone ; I am not a judge neither. I am only clarifying why many Americans, while enjoying one day off work, do not celebrate the 4th of July.
“On the issue of whether it is good or bad for a country that its monetary system is private and not public, is something I cannot answer. What I can say is that it does not work well here in the US, and that in the US what is best is a public-run monetary system as controlled by the US Congress, and only Congress.”
Please keep this video on your website ; it’s almost an annual tradition to send this link to ignorant we’ll-wishing fellows on the 4th of July.
Contrary to Mr. Minneapolis Fed spokesman, there is only one cause of inflation – an increase in the money supply. This can happen by increasing the actual stock of monetary commodity (gold and/or silver) in circulation, or by increasing the amount of currency (notes or paper money) in circulation.
In the former, the effect is usually limited in scope and duration. In the latter, the scope and duration are subject only to the whims of the managers of the stock of money substitutes in the system.
The Fed is the source of all of the evil we see all around us today. Through its ability to create money for the government to finance all of its programs, the Fed enables to government to hire enforcers and buy their weapons. These enforcers and weapons have one, and only one, purpose, which is to enslave the entire population of the United States, save for themselves and their favored associates.
End the Fed!
Well, I was all in, until I saw Ellen Brown toward the end.
James, tell me you don’t support this woman and her ideas. Tell me this was just one of many ideas being floated regarding with what to replace the Federal Reserve System.
Ellen Brown’s idea is to have greenbacks at the state level instead of the Federal level. Anyone interested in a takedown of her ideas is invited to go to Gary North’s website, in the public section, and simply type “Ellen Brown” into the search bar.
These same ideas were the solution envisioned by the people who put out the otherwise good video entitled, “The Money Masters”, some years ago.
The solution is not to create a different kind of central bank, or to let government, at any level, decide what money is, and how much of it there should be. The Austrians have it right – free banking, full redeemability of bank notes in commodity money, no fractional reserve banking (i.e., 100% reserve requirement, unless stipulated in the deposit contract) and, most importantly, no government interference designed to skirt the enforcement of contracts.
Just as we don’t need government-manged trade, we surely don’t need government-managed money.