Powers & Principalities, Episode 028, YouTube Auto-Generated Transcription

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Powers & Principalities, Episode 028

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Occult Banking and Financial Alchemy.

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The transcription text below is a YouTube auto-generated English transcription from Powers & Principalities, Episode 028, published by "thkelly67" on 2017-12-01 with a running time of 1:21:35. All episodes of the Powers & Principalities weekly audio interview series between Joseph Atwill and Tim Kelly are included in this playlist on YouTube and are also available as audio podcast downloads on Tim Kelly's "Our Interesting Times" channel on Podomatic.

All transcription copyrights belong to Tim Kelly (thkelly67) & Joseph Atwill.

Donate on PayPal or on Patreon to Tim Kelly's "Our Interesting Times" and "Powers & Principalities" audio shows.

YouTube auto-generated English transcription

00:00 [Music] 00:27 the 00:29 [Music] 00:38 [Music] 00:41 so how're you doing I'm just fine Jim 00:45 how are you very good thank you 00:47 well tonight we wanted to talk about the 00:52 mysterious occulted banking system then 00:55 the alchemy of finances George Suresh 00:58 calls it so yeah is it alchemy it have 01:01 they have they found the philosopher's 01:03 stone can they convert base metal into 01:08 gold and the miracle of getting rid of a 01:14 scarcity what does the banking system do 01:16 what but what is it all about well we 01:18 were dealing with you I think it was 01:20 Henry Ford who was quoted as saying 01:24 there's well enough that the people of 01:25 the nation don't understand our banking 01:27 and monetary system for if they did I 01:30 believe there would be a revolution 01:31 before tomorrow morning so what do you 01:36 make of our wonderful banking system 01:38 this engine of growth and that dynamism 01:41 and creativity this financial sector 01:43 Wall Street in the back 01:44 the bankers how they provide capital for 01:46 small business and as little people to 01:49 live the American Dream buy a house buy 01:52 a car get a college education buy a 01:54 sunscreen TV set yeah right well I mean 01:59 basically the banking system the Federal 02:02 Reserve System in the United States and 02:04 in Western civilization is a slave 02:08 system it has one product which is 02:12 totalitarianism and by that I mean you 02:15 know basically one world government one 02:18 world owned by the individuals who own 02:23 the banking system and that's really 02:26 what it's designed to do as best I can 02:29 make out the G the the Federal Reserve 02:36 I mean people talk about the name 02:39 Federal Reserve and that it's obviously 02:42 mind control because the Federal Reserve 02:47 is in fact a corporation that is owned 02:50 by what is referred to as the primary 02:52 banks and these are the big banks these 02:56 are the banks that were in one way or 02:59 another had their influence present at 03:04 the creation of the Federal Reserve 03:06 System by Woodrow Wilson in a bluest 03:09 1913 Edward Griffin has written a great 03:15 book called creature from Jekyll Island 03:17 that you know goes through the process 03:20 by which the banking system was created 03:22 him he points out that it was completely 03:26 done in secrecy right there was like 03:28 like the atomic bomb there's no 03:31 participation and by democracy in the in 03:36 the actual creation of the entity the 03:39 people who got together they were 03:42 representing the large banking families 03:45 the the banks to a large extent where 03:50 all the large banks were all represented 03:51 there and these banking families you 03:56 know are all interrelated the warbirds 03:58 the Coons the lobes the Rothschilds the 04:01 shifts the Jewish side of it and they 04:04 make up the large fraction they if you 04:06 look at the board of directors of these 04:08 banks you can see these names pop up 04:10 over and over again and in the marriage 04:12 and the inner family relationships it's 04:15 just when Big Sam like Klump which is 04:19 actually pretty well easy to understand 04:21 and document it's not that's that 04:23 particular occulted aspect that that 04:27 this is just a group of families it's 04:29 not really that hard even though it's 04:30 seldom mentioned for some reason but 04:33 there was something had happened that 04:35 Griffin points out that was really 04:36 important is that now in this era 04:41 everyone was worried about monopoly 04:43 right this was a huge problem people 04:46 could see this in all these industries 04:48 that these monopolies would be 04:50 set up and so the public responded by 04:53 trying to elect individuals who would 04:54 fight against these monopolies which 04:56 were called trust Trust trust Buster's 05:00 right yes and to trust Buster's would be 05:03 the ones who go in and break them up and 05:05 basically they were called trust because 05:09 these things are cartels in effect in 05:11 other words these are agreements between 05:16 corporations businesses individuals 05:18 which get rid of competition so that you 05:23 know there would be you know an 05:26 agreement in terms of why I won't come 05:28 into your region you won't come into 05:29 mind I won't make this widget you won't 05:33 make that gadget you know there were 05:35 just different different ways to get rid 05:37 of competition that would be to the 05:39 benefit of the people who are inside the 05:41 cartel and of course to the detriment of 05:42 those who are participating in the 05:44 buying of the products of the cartel and 05:47 if they get big enough you know like the 05:49 oil cartel where there's really 05:50 basically you know monopoly then they 05:53 are just impossible to you know control 05:57 because they could they can set their 05:59 own prices so they were called trusts 06:01 because that was what went on between 06:04 the individuals inside these cartels is 06:07 there trust of one another you know and 06:09 so trust busters were in vogue and and 06:17 in fact Woodrow Wilson amazingly was you 06:20 know seen as someone who might be a 06:21 trust buster but in fact he was a you 06:24 know cartel creator but anyway the point 06:27 is is that at Jekyll Island where they 06:30 met in secrecy to create the Federal 06:34 Reserve these individuals were actually 06:36 supposed to be all in competition so 06:39 it's been pointed out the very basis of 06:42 the meeting was they illegal because you 06:45 know they were supposed to be 06:46 competition between the banks and in 06:49 fact when you get together to create 06:51 this kind of agreed-upon structure 06:53 without any Democratic participation 06:55 you're gonna end up with basically what 06:58 is a monopoly and man did that happen 07:02 here so this is the first you know point 07:07 is that the public it was a coltd late 07:10 on the topic we're talking about is that 07:12 the public had no participation in it 07:15 there was an article written years later 07:19 by one of the members Frank Van Til lap 07:22 I believe his name is I forget her 07:23 Angela Ian yeah so he wrote an article 07:26 about it and I'm in the Saturday post or 07:30 something and he described what happened 07:33 how secret it was how they used fake 07:35 names you know there was all these 07:37 really bizarre kind of ways to avoid any 07:41 sort of public scrutiny 07:42 yeah suppose a duck hunting trip or 07:44 something yeah I was a duck hunting trip 07:46 to this private island him and the 07:48 reason that you know they gave is that 07:50 there's been a banking panic you know 07:52 seven now what this means is is that 07:56 banks have lent out far more than they 07:59 had taken in the public panic tried to 08:02 get their money out and the banks don't 08:04 have any money and so the idea was is 08:08 that well we can sell the public on the 08:11 idea there being a lender of last resort 08:14 not a federal reason right 08:16 and supposing that panic was 08:18 precipitated by a whisper campaign 08:19 started by one JP Morgan yeah yeah yeah 08:23 and in fact if you go through this 08:25 they've been trying to get this thing 08:26 passed for years I mean basically since 08:28 the founding of the of the country I 08:30 mean it was a huge battle at the very 08:32 beginning about update you know the 08:34 private banks could become the national 08:37 bank Hamilton was fighting against 08:41 basically everyone to get this done he 08:44 eventually succeeded and then up to I 08:47 guess 1823 there was a National Bank in 08:50 other words who that was more or less 08:51 pure a Rothschild event yeah I think 08:54 about its charter expired wasn't renewed 08:56 yeah Jack Jack - who knew the Charter 09:00 and this was so for about 90 years there 09:02 was no no no Federal Bank the that was 09:05 the the US Treasury functioned as the 09:08 creator of dollars anyway so is that 09:11 leader under the independent Treasury 09:13 system as it became to be known 09:15 the federal government actually paid off 09:16 his debt for sure I mean because well if 09:20 you were gonna get into this but I mean 09:21 the whole way that that that the 09:24 government is able to function US 09:26 government is able to function with Wars 09:28 everywhere and all these offer is 09:31 because of the Federal Reserve because 09:33 of what's called the open market 09:38 operation now you know like the Federal 09:43 Reserve is you know it you know 09:47 is not something that is either federal 09:50 or has any reserves really though it 09:51 does actually have quite a bit of each 09:54 balance sheet but the fact is is that it 10:00 has this this process which it calls the 10:02 open market operation that everyone 10:05 should really know about how this 10:07 operates and stuff and and so I think we 10:15 should go through it just a little bit 10:19 if you don't mind I mean it's a little 10:21 boring but the the open well what they 10:24 what they want to mention before you do 10:25 that is also good the Federal Reserve 10:27 attack itself was the original bill was 10:29 sponsored by one Nelson Aldrich a 10:32 Republican senator from Rhode Island I 10:34 believe yeah whose uh daughter married 10:38 john d rockefeller ii yeah and so this 10:41 is the delegate of time with these 10:42 familiarize how they marion into the 10:44 political families marion into these 10:46 elite you know banking families and so 10:50 but i think what happened was to make it 10:51 seem like it was a reform bill they got 10:53 was it Carter glass the sponsor the bill 10:56 glass yeah so actually the fish but it 10:58 really was a Republican bill banking 11:00 reform bills was yeah 11:03 so another Jim how they marry into these 11:05 these political families and of course 11:06 Nelson Rockefeller the famed governor of 11:09 New York when he cast such a long shadow 11:11 throughout the 1970s and throughout the 11:15 20th century dying in the late 1970s he 11:19 was named after Nelson Aldrich he was 11:21 yeah it wasn't all his grandfather yeah 11:25 he was yep yeah yeah so that's mister 11:28 one big sick clump of you know inbred 11:31 families and so you know the the yad 11:37 where to how to unforce this for people 11:40 because you know I talk to people all 11:44 the time with big talker Tim I'm on the 11:47 phone people Skype me I don't get 11:50 invited to parties let it suck I demand 11:54 to talk to you for some reason anyway I 11:56 always try to get you know some sense as 11:59 to what people understand about the 12:01 finance because it's such an important 12:02 part and it's amazing to me even really 12:05 sophisticated people people who 12:07 understand far more details than I ever 12:11 could about you know political 12:12 assassinations secret society different 12:15 aspects of simple things about finance 12:18 they just don't have a clue about and so 12:20 I think it's useful for people to know 12:23 particularly the one real con job theft 12:30 that goes on basically every day that 12:33 the Federal Reserve engages in and it 12:35 and it camouflages it by calling it the 12:38 open market operation now there's two 12:41 things that this is not one is open and 12:44 you know there is a market so the way it 12:49 works is is that you know the Treasury 12:51 creates bonds now the Treasury doesn't 12:55 actually sell the bonds they deliver 12:57 them to bond dealers these are these are 13:00 typically primary banks themselves right 13:03 okay so like if you're like goldman 13:06 sachs you're you're a bond deal or they 13:08 you get the bond and you're told to sell 13:11 it now you're paid for this now why the 13:14 government does this of course is beyond 13:16 me but anyway they do so they auction 13:18 them off now so if the Fed decides that 13:23 it no it says it wants to expand the 13:26 money supply here's where the alchemy 13:28 you know you talk a lot you use the 13:30 expression lot the financial alchemy 13:32 right well here's the alchemy so the Fed 13:36 says well you know it's time to expand 13:37 the old money supply which basically 13:40 means no one want to buy the Treasury 13:42 buttons and so the Fed is gonna have to 13:43 step in but it says it's going to expand 13:46 the money supply so it buys the bonds 13:50 from the dealer now bear in mind the 13:52 dealers are typically just itself right 13:55 it's just like because the the Federal 13:57 Reserve just to back up second Fed 13:59 Reserve is a corporation basically all 14:03 banks in the Federal Reserve System 14:04 owned shares in it since we can't audit 14:06 the thing no one knows the fraction of 14:08 ownership but it is well understood that 14:10 the primary banks hold the voting 14:12 control right so when the and and the 14:16 primary banks are the bond sellers there 14:21 are the people that the Treasury issues 14:23 the bonds to they then auction them off 14:26 to to themselves he and the Fed says 14:29 look if we want to expand the money 14:30 supply and so it it decides that it will 14:34 step in and buy the bonds right so this 14:37 is really quite you know Alka mystic 14:40 because the Treasury is claiming that it 14:44 wants to expand the money supply and 14:46 therefore it's gonna buy the bonds from 14:48 itself 14:49 where does the fishery get the Fed get 14:52 the money well this is where the alchemy 14:54 is the money just created so now the Fed 14:58 buys the bonds and it puts them into 15:02 what it's called its balance sheet or 15:04 it's basically it reserves now the bank 15:11 that the the bank's then are able to use 15:15 the the bonds that the Federal Reserve 15:19 holds as reserves now this is very 15:25 complicated and we're not going to spend 15:27 a lot of time again people don't really 15:29 need to understand this other than to 15:30 really see that the the interest is now 15:39 being increased in other words they're 15:41 going to be paying more then the 15:45 Treasury created the note for say the 15:49 Treasury creates it for two and now the 15:53 reserves are basically a debt 15:55 to the bank that is claiming them as a 15:57 reserve the but the bank is basically 16:00 swapping money that has come in as 16:02 deposits and now has given that money to 16:05 the to the the Fed and the Fed needs 16:09 Ivan way more money than this because 16:11 remember it's also going to be buying 16:12 bonds as well so so this is when it 16:14 expands the money suppliers when the 16:16 Federal Reserve actually basically will 16:20 buy bonds in the open market that the 16:24 other banks don't want and so it'll buy 16:27 them all of this stuff ends up in what's 16:30 called the Federal Reserve balance sheet 16:31 which is now around just under five 16:33 trillion dollars okay all right so now 16:36 um I think as recently as 2008 it was 16:39 only eight hundred billion dollars 16:41 it was a turbulent yeah so they've 16:42 expanded some money like four times now 16:44 now even the express expanded the money 16:47 supply is just completely alive because 16:50 Jim there is hardly any more money in 16:53 circulation now than there was back in 16:54 no way he what there is me because the 16:58 Fed has sequestered all of this cash the 17:01 the banks don't need to basically loan 17:04 out much money because in the o8 law 17:10 there was a change made that which 17:12 indicated that the banks could retain 17:14 the interest so the banks aren't 17:17 absolutely arbitrage there they're just 17:19 buying the you know they buy it one 17:23 price and the Treasury then will pay 17:26 them more for the face value of the note 17:29 than they had to they had to cough up 17:31 for the thing this is the carry trade 17:33 it's a carry trade right and so their 17:35 carry trading basically the the taxpayer 17:37 because the day at the end of the day 17:39 the taxpayer has to pay pick up all of 17:41 this stuff that's all it's going to end 17:43 up in our lap one more note it's pure 17:45 financialization is there's no goods and 17:46 services being produced in these 17:48 transaxle ii not and now and then beyond 17:51 that then the then to get into the now 17:53 we have the fractional reserve stuff 17:54 where because the banks have been able 17:58 to acquire Joe can i interject one thing 18:01 here sure little bit histories you 18:03 mentioned the Open Market Committee yeah 18:05 when the the Federal Reserve Act was 18:07 first passed this is a good example of 18:09 mission 18:09 creepy I don't think she's just 18:11 accidental or coincidental history 18:13 unfolding as we say is the way it was 18:16 established was the Fed was there to 18:18 provide a month elastic money's to 18:20 supply to deal with panics lender of 18:22 last resort and the way that was done 18:24 was the Fed would provide liquidity 18:27 based on existing corporate paper and so 18:31 there was a theoretical limitation on 18:33 what they could how much money they 18:34 could create and contract when 18:37 appropriate to deal with these 18:38 occasional panics like the 1907 18:40 Knickerbocker draw trust collapsed these 18:42 things yes now this this was how it was 18:44 so to the extent that the public was 18:46 aware of this and this is how it was 18:48 rationalized to deal with these panics 18:50 and so it was relatively limited in its 18:52 mission at that time like anything else 18:55 two-handed expands but ah you know darn 18:59 it that long came the war and they could 19:03 never tax enough to pay for the war 19:04 because then no one will want to fight 19:06 the war they need to uh the need to 19:08 inflate debase the money the money 19:11 supply and all the US government 19:14 although technically stayed on the gold 19:16 standard during World War one it really 19:17 debates the money supply how it did that 19:19 was through this expansion the Open 19:21 Market Committee where they the Fed it 19:23 stepped in and monetized debt the 19:26 process to which you're talking about - 19:27 to deal with the emergency because if 19:29 they weren't allowed to do this the 19:30 kaisers was gonna rape all our women so 19:33 right you're right 19:35 and so then it was off for the races 19:37 right well when it would okay so that's 19:40 always there's always incrementalism yes 19:42 in this stuff and so when I cut it you 19:44 know and when the the Federal Reserve 19:46 was created it was supposedly as sold to 19:49 the public as a way to stop banking 19:52 panics so what happened was in Oh seven 19:55 banks were failing JP Morgan who had the 19:59 most corporate paper basically and 20:02 therefore it access to capital the way 20:05 that that system work he said okay I'm 20:08 gonna fund this Bank I'm gonna fund that 20:09 thank you would basically step in 20:11 overnight and in some cases he would 20:14 give him like ten million dollars and 20:15 then Rockefeller was also there he would 20:17 give one Bank he basically you know said 20:21 I'll just cover that 20:21 and so then these panics the idea was is 20:28 we need it we needed to organize how the 20:30 large solvent banks could basically prop 20:34 up weak banks during these panics which 20:36 we're seeing as basically irrational 20:39 because you know in the long run the 20:42 banks were operating prudently and most 20:44 of them would not say although some did 20:46 but you know you wanted to have so it 20:50 like you said basically what it was 20:51 originally was just the Federal Reserve 20:54 had the capacity to issue credit was 20:56 gonna have the capacity issue credit 20:57 based on some formula which I don't 20:59 understand I'd like to see that well I 21:02 think the idea was you have corporate 21:03 paper which is a reflection of goods and 21:05 services and they write immediate 21:07 liquidity so it wasn't right now is it 21:09 but I'm just wondering like was it 21:11 fractional in the Africa yeah I think I 21:14 think it was two times what they could I 21:17 couldn't be wrong about that but it was 21:18 twice what the corporate paper was they 21:20 could actually create credit short-term 21:22 and this would like you know basically 21:24 patch things up till the panic subsided 21:26 because ultimately the the the panics 21:28 are brought about by reckless lending or 21:31 it's being overextended which is right 21:35 and the war bird and now is just off to 21:38 the races and so then the next thing was 21:40 well the panic was in the was in the 21:44 National Treasury because the warmongers 21:47 wanted to slaughter Germans and they 21:52 didn't have enough money and so the idea 21:56 was is that the the open market 21:59 operation could exist annex they could 22:01 expand the money supply another is 22:03 invent money and then you know the the 22:07 hope was is that this debt could then be 22:09 reduced in the future because they could 22:11 tax more and have more profitable eras 22:13 and and so that that they could you know 22:16 get through this crisis and just so that 22:19 the crisis was the justification but I 22:23 think we're still paying off the world 22:24 war one war debt so you know will never 22:26 pay that's the formula yeah so so anyway 22:32 then when so now when you get to 22:35 you know the the present era you have 22:40 you know there's been an amazing amazing 22:42 transformation because if you look back 22:45 at a way which really I think exposed 22:48 the alchemy you had you know the the the 22:54 lender of last resort was actually 22:58 borrowing money from the US government 23:02 because the the Treasury basically 23:06 stepped in in most a seven hundred 23:10 billion dollar financial rescue package 23:12 that was signed into law in one day 23:14 basically but it helped the the the 23:18 Federal Reserve basically become the 23:19 owner of our fill in the debt for like 23:23 AIG and Lehman 23:26 so the which was so what you have this 23:31 supposably the lender of last resort 23:36 became a borrower from the Treasury to 23:41 basically by Lehman are to fill in the 23:46 debt and then also the eighty-five 23:48 billion dollar loan to AIG where it 23:51 becomes an eighty percent owner and now 23:53 here you've had a complete collapse of 23:55 the whole all of the cover stories 23:56 broken down and you can see the system 23:59 is just faked because the Treasury 24:02 Department was now selling bonds instead 24:05 of the primary dealer but the money 24:08 wasn't going to go to the government it 24:10 was coming to go to the Federal Reserve 24:11 to help the the central bank deal with 24:15 its unprecedented borrowing needs so you 24:19 now have you know the the system is 24:24 exposed as being sort of silly but the 24:29 point I wanted man along with it is that 24:31 the open market operation is just it is 24:35 a criminal act and it's if people just 24:40 have their heads right they can see it 24:42 because the first thing is the Treasury 24:45 should not have to go through 24:47 intermediaries 24:49 that it will pay interest to borrow 24:52 money I mean why does it need to do that 24:55 you see I mean this this just makes 24:58 absolutely no sense at all the the 25:02 Treasury should simply issue the money 25:06 to ever needs the money that is 25:08 reasonable and then if there's going to 25:11 be interested should be paid directly 25:12 back to the Treasury shouldn't be paid 25:15 because the way it is now the markup on 25:18 the interest that that gets to the 25:20 public is larger far larger than the 25:24 actual interest that the Treasury 25:26 charges to the primary banks so wide in 25:29 this process are the primary banks who 25:33 have no capital risk they're able to buy 25:37 them the these these bonds with money 25:40 they don't have for nothing right 25:42 basically they don't have they they have 25:43 no cash in the bank the Fed invents the 25:46 money they end up with these these these 25:49 notes and then they can resell them and 25:51 and and lend out to the public at these 25:54 far higher higher interest rates so 25:56 basically what you're really looking at 25:58 is the alchemy of user he right this is 26:01 really what we're dealing with is that 26:03 they're able to create a process that's 26:05 confusing and that's the only reason it 26:07 exists is just to confuse people that 26:10 they think it's reasonable to get like 26:12 you know at 8% credit card debt interest 26:15 debt but the fact is it's not there's 26:19 nothing reasonable about it whatsoever 26:20 it's it's just actually frankly insane 26:23 they there is no reason why we would 26:27 want to have these people stand between 26:31 the individual who needs the money and 26:35 the Treasury they're they're just if you 26:39 see if the federal was simply a federal 26:41 agency the government's is simply issue 26:45 it's tender directly right you have this 26:49 the the need to have interest-bearing 26:51 debt to the private middlemen and who 26:54 they're the ones who create the money 26:56 out of thin air right so a really 26:58 Federal Reserve System would lead simply 27:01 on the faith of credit 27:02 the United States whatever that's worth 27:03 and it would lend to the states and 27:06 local governments interest-free and this 27:08 would cost the whole infrastructure by 27:13 more than half right 27:15 this would be an indirect capital 27:18 investment into the local economies 27:21 direct because all of the death of the 27:24 interest wouldn't have to you know woody 27:26 could dramatically reduce it so anyway 27:29 folks we've been had you know this is 27:33 why the whole thing was done in secret 27:35 this was why the incremental ISM this is 27:37 why there's never any audit of the thing 27:39 if it gets audited you know there won't 27:42 be any laws broke and they've made all 27:44 the laws basically to protect themselves 27:47 but what will happen is people will 27:49 start to just realize what it's like the 27:51 whole thing is a scam yeah that's um I 27:55 mean the tag with the system but what's 27:57 worse about the systems what's actually 27:59 was legal I think was Frederick Bastet 28:02 who said when plunder becomes a way of 28:03 life for a group of men living together 28:05 in society they curate for themselves in 28:08 the course of time a legal system that 28:10 authorizes it in a moral code that 28:11 glorifies it and boy are we living under 28:13 that today you know yeah and it's it's 28:17 what's legal 28:18 Teta the legal than the bank system is 28:20 which is what is most criminal you know 28:24 why why all this debt why interest well 28:27 that's the answer because debt usury is 28:30 a method of enslavement and that's why 28:33 it's imposed if you are I mean if you 28:39 look at how the system was designed from 28:42 the get-go it was there to constantly 28:45 rollover debt to keep it perpetual and 28:48 you look at something like fractional 28:50 Zerby think what's illegal I mean with 28:52 you and euphemisms and you try to make 28:53 the system as arcane as a complicated as 28:56 possible so the common man said this as 28:58 well it's above my pay grade for the 29:01 experts to talk about but something like 29:02 the fraction were reserve banking which 29:05 is just a euphemism for banking fraud 29:07 yeah you know or conversion right 29:09 criminal conversion we take a deposit 29:12 you turn into a loan least that's what's 29:13 called conversion we have a system now 29:16 with 29:16 converts deposits into loans and loans 29:19 in those deposits the deposits back in 29:22 loans again and so on and so on in this 29:23 study gets a huge monetary expansion but 29:26 the bottom is every dollar is debt you 29:29 know every dollars created is more debt 29:32 I mean in general they they create 29:36 reserves based on deposits are held held 29:41 and but they no longer have to keep them 29:46 at the own bank they can they can 29:47 basically give the money to the Federal 29:49 Reserve who then has this little magic 29:52 box where it says okay we got this much 29:54 you know bonds we're holding for the 29:56 bank X and we're also going to pay the 29:59 interest to Bank X on this so the bank X 30:01 is making an arbitrage on the original 30:04 money that those was lent up by the 30:06 Treasury but then Bank X goes out lends 30:09 ten times that amount it's entitled to 30:11 lend up jin-tae out of the reserves and 30:14 get interest on all of that 30:16 well now you're getting basically the 30:18 close to the amount of money that was 30:21 deposited which is now being coming to 30:25 the bank as an annual return from people 30:28 who are having money that was invented s 30:31 in error yes by this whole system and so 30:34 it's it now this is a as I said it's a 30:39 slave system because the the interest 30:43 that is being sucked up by the banking 30:45 families is has no function in the in 30:51 you know in terms of like our real 30:53 economy other than to create wealth for 30:56 the owners of these banks I mean nothing 30:58 is happening other than these ledger 31:00 manian activities where credit is 31:04 created out of thin air it's lent out 31:06 the poor per person then has to pay back 31:08 money this money then goes back into the 31:10 banks who now can lend out ten times 31:13 that amount and it's but but how does 31:16 stimulate the economy what is the 31:18 purpose of this you know and so now one 31:21 thing I was going to mention is that the 31:25 the Federal Reserve is entitled to 31:27 actually make a profit 31:29 people think that the Federal Reserve is 31:31 just kind of a you know it's just sort 31:33 of gatekeeper and doesn't really operate 31:35 as a business but actually that's not 31:37 true the Federal Reserve is able to pay 31:41 for its operating expenses and a 6% 31:44 return now the less people has wondered 31:49 what is the 6% odd what what is the what 31:53 is it a return of what business activity 31:57 yeah the furring do see this is where a 31:59 nod it would actually be useful because 32:00 no one knows what that is now beyond the 32:04 six percent it will give whatever is 32:06 left to the federal government to 32:09 Treasury and as given up to 150 billion 32:12 dollars a year so you can see that we're 32:14 talking gigantic sums yeah I mean you 32:18 give a system where private banks have 32:20 gone into collusion with the government 32:21 and the deal is the government provides 32:24 this private banking institutions cartel 32:26 a privileged monopoly on money creation 32:30 and return this cartel will monetize 32:33 government debt and then they both 32:36 service each other because ultimately 32:38 the government is actually a tool of the 32:40 corporation's which alternately are run 32:42 by a few families which owned the 32:44 central banks which then it's ultimately 32:47 control the Bank of International 32:48 Settlements 32:49 yeah and so the Fed now just I wanted 32:53 just a finally last little thing here on 32:56 how the open market stuff there is a 32:59 thing called the Fed fund rate now 33:01 that's this is a critical like the open 33:03 market this some people should 33:04 understand that rate is is a rate that 33:08 the Federal Reserve creates right 33:11 it creates it's not the government 33:13 number it creates a number that says 33:16 we're gonna loan money at this at this 33:18 amount okay now it then can when it 33:23 creates the money the the financial 33:26 institutions which is itself right 33:28 because remember it it creates the the 33:32 Fed fund rate and the primary 33:34 beneficiary the fence run rate are the 33:36 primary banks so when the Federal 33:39 Reserve says okay the Fed fund rate is 33:41 going to be one-half 33:42 scent that isn't a number that any 33:43 ordinary bank can get out you have to be 33:47 a special bank these banks can get it 33:50 and now they can then turn around with 33:52 their money and they can buy the 33:55 Treasuries the Treasury rate is 33:57 different than the Fed fund rate and 34:00 this is something that a lot of people 34:01 don't understand is there is an 34:03 immediate arbitrage that the Fed fund 34:07 the Fed says we're going to invent money 34:08 at 2% the Treasury says has its third 34:12 year at like say 3% that 1% is the 34:16 alchemy when when you about the the 34:19 alchemy of you know financial control 34:21 and how money and debt this is the 34:23 primary aspect of the alchemy it's just 34:27 the arbitrage between what they will 34:31 sell to themselves money at credit at 34:35 and the amount that then the other 34:39 people including the federal government 34:41 will pay for debt it's that simple and 34:44 that's why the Fed fund rate is a 34:47 critical aspect that needs to be 34:49 understood in terms of how the open 34:51 market operation steals money and now 34:54 how does this happen you have to wonder 34:57 well how does this whole system actually 34:58 work because it's so obviously stealing 35:01 isn't there aren't they gonna run out of 35:03 money to steal no because what they do 35:07 is is is when they invent more money the 35:11 the ultimate victim of all of this is 35:14 the currency itself yeah 35:16 that's why gold was $35 in 1930 and it's 35:20 you know $1300 now it will be more and 35:24 it will be more or less for the efforts 35:25 of JP Morgan and so what if it wasn't 35:27 for the all of them yeah the way they 35:29 keep like hey if paper gold now but it 35:33 was like look at home I mean a home was 35:35 the south dollars now it's 800 pounds 35:36 less well there there it is so that's 35:39 why there is still money left to steal 35:42 because they have simply debased this is 35:45 where the the effect of the theft is 35:48 felt is in the currency because if they 35:50 were just stealing the money they would 35:53 they would have stolen everything years 35:54 ago and this is also 35:56 the same process that funds the wars 35:59 welfare state is that they because 36:04 they're able to debase the currency they 36:07 can just keep the thing going as long as 36:10 people will respect the currency 36:11 ultimately the way the Federal Reserve 36:13 systems end is with a collapse of the 36:16 currency yeah why Altima Lee this is a 36:18 like like Kathleen Austin fit says this 36:21 is ultimately military question its yes 36:23 but the whole no petrodollar system the 36:27 the fact Bretton Woods it's backed up by 36:29 force and that's why any country which 36:32 challenges the petro dollar system or 36:35 the US dollars role as a world reserve 36:38 currency is immediately overthrown like 36:41 Saddam Hussein or Qaddafi even to token 36:44 resistance right now a China and Russia 36:48 are trying to work outside the 36:49 anglo-american system outside the dollar 36:51 i system and they're trying to set up an 36:54 infrastructure and trade this is why 36:56 China is probably more controlled than 36:58 Russia although Russia has been 37:01 infiltrated you know that this banking 37:03 system is apparently controlled by 37:05 anglo-american zyo interests but you 37:08 know it's government apparently there's 37:10 almost like an internal struggle there 37:11 between Russian nationalists and you 37:14 know free freemasonic agents that's 37:16 always that's the history of Russia the 37:17 past you know several hundred seven 37:20 hundred years so that's why it's so 37:22 important that the dollar be imposed 37:24 because this entire system in here 37:27 design I mean you asked me why wouldn't 37:28 you think all this inflation all those 37:30 money creation why isn't there a run on 37:32 the dollar it's because ultimately this 37:33 or if you attempt to run on the dollar 37:35 you get you get bombed yeah right and 37:40 and and they they take away all the 37:42 psychological clues that would otherwise 37:45 be visible to the sheeple or the norming 37:48 you know as we call like the value of 37:51 gold 37:52 you know people wonder like bitcoin they 37:54 well how can it coin be ten thousand 37:56 dollars it's because it's very hard for 37:59 the governments to control it they 38:01 control the price of gold just by 38:04 selling you 38:05 three or four billion dollars of gold 38:07 contracts into a market in one second 38:09 and knocking out all the buy bids yeah 38:12 and the price collapses and they just do 38:15 this over and over again and they create 38:16 a psychological condition because 38:18 remember ultimately and I love the 38:21 expression that you use outcome it 38:22 because it really is alchemy I mean 38:24 ultimately what we're dealing with here 38:25 is magic and faith the dollar is 38:29 basically a religion and yeah as long as 38:32 people believe in it it doesn't matter 38:35 you know that there are 10 trillion 38:38 gazillion dollars out there if you 38:41 believe in the dollar and think $1 were 38:43 something by God it's going to be worth 38:45 something and that's so how how a faith 38:47 based system works it is a religion 38:49 however it has like all religions it has 38:52 a problem in that then faith is 38:57 something that can be lost and there's 38:59 nothing really to back it up and like 39:01 you say well it's a military question I 39:04 think we're gonna get to see here you 39:07 know at some point pretty quick you know 39:10 to what extent we can actually force 39:12 people to accept the door because I 39:14 start in my opinion and I you know do 39:18 try to understand this and I only have 39:20 an opinion but it is this that it is 39:24 going to collapse here pretty quick that 39:26 there are just too many people wanting 39:27 out of the dollar system at this point 39:29 too many people are afraid of it they 39:33 can see that basically the US was going 39:35 to have to you know it cannot really 39:37 through its economy pay for all of its 39:40 debt and so it's going to have to 39:42 massively increase the amount of money 39:45 in advance for government to use yeah 39:47 askew so how can a government that has a 39:50 twenty two trillion dollar deficit have 39:56 its currency to be the world's reserve 39:57 currency and it has to be you know it's 40:00 a military course doesn't obviously not 40:01 economic right 40:03 you get very humble economics that would 40:04 have collapsed long ago or the 40:06 government have retrench longer ago been 40:08 more responsible yeah you know yeah and 40:10 so the neck and you know and I'll tell 40:12 you the world would be better off 40:13 because the wars are 40:18 funded through this system yeah 40:20 and you couldn't create the the capital 40:25 needed to keep all the wars and military 40:27 bases and militarism and technical 40:30 innovation and research that's going on 40:33 that the oligarchs require for their for 40:37 their warfare if it was actually 40:41 economically based there just isn't 40:44 enough money in our economy to to to 40:48 accomplish that so if the dollar 40:51 collapses you're going to see absolutely 40:53 different world because the alchemy will 40:55 be you know done away with and all that 40:58 will be left is reality and the US would 41:00 be a very poor country and that won't be 41:01 able to afford to carry on like it does 41:04 yeah and ultimately probably depend and 41:06 it could a class could be engineered 41:08 because this uh the the fuel the handful 41:11 of families at home these banks might 41:13 just determine that ok we've we've 41:15 sucked the US dry it's that now empty 41:18 husk will move on you know like the 41:20 Vipers Aventis always do sound like they 41:23 first the British Empire then it's the 41:25 u.s. well I think actually they sucked 41:28 Italy dry and they also sucked the 41:31 European banking system dry there isn't 41:33 there isn't a myth publicity but I think 41:35 that Belgium was sucked dry and I think 41:38 Italy was and basically during the time 41:41 of the Renaissance by the banking 41:42 families and then moved into Britain 41:44 Britain was the world empire was the 41:46 Masonic had you know east trading 41:49 company but then the world wars 41:52 basically you know they had to suck all 41:55 the resources out of it at that time and 41:58 so that after World War Two then they 42:00 moved to the United States and you know 42:02 we have been there their host for the 42:06 parasite for the last you know seventy 42:08 years but as you can see by our 22 42:12 trillion dollar debt and it's actually 42:14 far worse than that because you know 42:17 bear in mind the five trillion dollar 42:18 Federal Reserve balance sheet is 42:20 something it should be by any sane 42:23 accounting standard be put into the the 42:25 debt system and then you have the 42:27 unfunded liabilities well don't even 42:29 think about this 42:31 numbers that are too big for him and 42:33 even the grass I mean anyway so I mean 42:36 the system is shot there's just no way 42:39 that the debt can be serviced by this 42:42 economy there are a lot of really 42:44 extraordinary talent and wealth creation 42:50 functions inside the United States and 42:52 all these technical companies yeah but 42:56 the problem is is one there just isn't 42:57 enough of them to fund debt of this size 42:59 and to so many of them international now 43:03 you know you look at Apple manufacturing 43:06 the iPhones and China using the Irish 43:09 banking system to you know to keep its 43:11 is capital tax free from us you know so 43:15 our economy is actually far weaker you 43:19 know then then even people realize and 43:22 when the when the collapse occurs it's 43:24 gonna be much faster than saved Britain 43:28 you know which probably you know had a 43:30 twilight of like 20 or 30 years I mean 43:32 Jim this is just gonna faceplant you're 43:34 just gonna walk up wake up one Monday 43:36 morning and the system will have frozen 43:39 up and then it just won't get unstuck I 43:43 I would look you know what do you think 43:46 you know like a lot of people feel that 43:49 the system will simply shut down and 43:51 then all of the savings that people 43:53 think they have will just disappear the 43:55 banks will simply you know become 43:56 non-existent the internet access to 44:00 capital will also disappear I mean that 44:02 that is a real possibility in need in 44:04 the alchemy based world don't you think 44:07 oh yeah I mean and then you have some 44:09 sort deflationary collapse all things 44:11 being equal that you might get some 44:13 regenerative process their only problem 44:15 is you have these parasites unwilling to 44:16 take the haircut and so they're gonna 44:18 make sure that you know that they keep 44:19 their vast wealth where everyone starves 44:22 to death that's what happened you know 44:23 and Laughton these crises are 44:25 perpetrated to concentrate wealth I mean 44:27 that's yeah you know well they will did 44:29 the the the people on the inside will be 44:31 obviously aware that this is going to 44:34 occur and they'll have already made 44:35 preparations I mean that they'll 44:38 basically be short the market and so 44:41 whatever to whatever extent financial 44:43 transactions 44:44 in profit they'll be winning all those 44:46 bets but II actually I think it's gonna 44:48 be a lot worse than that I think that 44:50 the system just doesn't get up I mean as 44:53 I understand the derivative situation 44:57 and this again because it's just one of 44:59 these black boxes just like you know 45:02 trying to audit the Fed but as I 45:05 understand the derivative situation the 45:07 idea that there is a balance is you know 45:11 that the counterparty risks are somehow 45:13 balanced out so that you know you can 45:17 just walk away from this this situation 45:20 without with at least one entity being 45:22 intact I just don't believe this I think 45:24 that the way these derivative contracts 45:27 are created there is you know risk 45:31 everywhere inside the system and no one 45:33 will know who has solvent and who is not 45:36 when the thing blows up and we're just 45:39 going to have a basically a banking 45:42 system that will take a long time what's 45:44 gonna happen is this in other words um 45:47 you're with when Lehman was an AIG when 45:52 they were when they were basically in 45:54 the point of collapse the problem is is 45:56 that the debt was inside the system and 46:00 no one knew where it was so no one could 46:02 really understand who was solvent you 46:05 have as when you have what these 46:06 derivatives and they're all 46:07 daisy-chained out and all the companies 46:09 are involved in them if if a if 46:13 something like Lehman had failed Lehman 46:15 had about a trillion dollars in 46:16 derivatives liability it was close to a 46:19 trillion dollar or maybe 800 per billion 46:22 but no one knew exactly what that debt 46:27 meant to the whole system in other words 46:29 if you're the bank's loan money to one 46:32 another and it's based upon the trust 46:34 that you know Bank a is going to be in 46:37 existence at the end of the day but if 46:41 you have derivatives which are not you 46:45 know which you know have blown up but no 46:48 one knows who owns them who holds them 46:49 who owes what 46:51 you can't be sure that if you loan money 46:54 to bank a it's going to be an existent 46:56 at the end of the day and happens then 46:59 is the interbank lending which is the 47:01 beating heart of the American system 47:03 simply would come to a stop and this was 47:05 why when Paulson went into Bush's office 47:09 and he said I need eight hundred billion 47:11 dollars Bush just wrote the check 47:12 because are issued to credit because 47:15 they knew that the interbank system that 47:18 lending system was going to stop and if 47:19 it had stopped even for a second the 47:21 system would just faceplant and this is 47:23 what I believe is going to happen 47:25 because if that happens again if you 47:28 have a you know a large entity suddenly 47:32 become insolvent the numbers are too big 47:35 now the derivative world is so much 47:38 bigger now than it wasn't a weight that 47:41 you could need not just 800 billion but 47:45 you could need like 10 trillion or 47:47 something to backstop the whole thing 47:48 and that would be too big a number for 47:50 the people who are concerned about the 47:53 solvency of the dollar and the US 47:55 government you know we just could create 47:59 10 trillion dollars in debt in a single 48:01 day and think the currency would would 48:03 survive that so we're just in Iraq and a 48:06 hard place and then that system doesn't 48:08 doesn't come back to life in other words 48:10 if the banks are frozen up in the 48:11 derivative world starts getting you know 48:15 daisy chained out and you start having 48:16 these these all these different entities 48:18 are no longer seeing their solvent there 48:21 looked at are all looked at as potential 48:22 demons well how long will it take to get 48:25 the system going i I don't think that 48:27 the system will ever come back and I 48:28 think that you know you'll have 48:31 basically just a complete wipeout of the 48:35 wealth of the savings of the American 48:37 people because basically all of this 48:40 ends up with the dollar well what would 48:42 the dollar be worth under those 48:43 conditions you know the alchemy would be 48:46 exposed to him yeah just as you say it's 48:48 an alchemy based system and if that 48:50 alchemy is exposed if people think it's 48:52 if they're dealing with magic Griffin 48:55 who you know it studied the Federal 48:57 Reserve and in wrote the creature from 49:00 Jekyll Island 49:01 he coined the phrase the Mandrake effect 49:04 he because he said you know there's just 49:07 so much hocus-pocus and magic in how 49:10 they you know create the money and and 49:12 how they fool the public well that's 49:14 what I I think that I'm an agreement I'm 49:17 agreement with your expression alchemy 49:18 based economy and I'm agreement with the 49:20 idea that it's Mandrake which would you 49:22 know the idea of Mandrake the Magician 49:24 it's just an illusion dude and if it 49:27 blows up well the crisis will be a 49:32 pretext to impose a world currency of 49:36 course yeah yeah done they'll trance 49:39 like they they went from you know Italy 49:41 to Belgium to Britain and then to the 49:44 United States when the next the next the 49:46 next iteration will be world career I 49:49 mean it's like you know it's Special 49:51 Drawing rights at the system where they 49:52 have with this basket of currencies and 49:54 already including you know the one into 49:56 it and the Americans may still have 49:58 dollars but the dollars were by a lot 50:00 less that sort of thing yeah and they'll 50:02 tell him somebody else they'll blame 50:03 like anything when inflation Oh blame 50:04 the shop owners you know they'll be a 50:08 problem and see what will happen is is 50:10 that they they will have to just 50:12 basically create tons of money hundred 50:16 trillion dollars you know you know what 50:17 would be the amount and this will just 50:19 crush the dollar the dollar could be 50:22 worth you know one twentieth throw 50:23 hundreds of what it is now but there'll 50:25 be lots of them and you will be poor but 50:28 you'll have the an access to some 50:30 dollars though the money in your account 50:32 will be available it just won't be able 50:35 to buy much I think the essential point 50:37 is you can be turned into Argentina 50:38 overnight right this moment decision 50:41 taken by some elite bank banksters and 50:45 the central point is here is how 50:49 insecure you think you have money you 50:51 think you have property yeah you don't 50:54 it's nothing you're it's you don't they 50:55 own it all because they control the 50:57 money and they created a system of 50:58 control over the creation of money to 51:00 create this very situation will win 51:01 because they want everyone on a 51:03 precipice of disaster Shock Doctrine 51:06 it's these things it's anxiety and 51:08 occasionally they little benefit off 51:10 collapsing the banking system and that's 51:13 what they do that's what they that's why 51:14 they've created a global banking 51:15 to begin with and that's what HG Wells 51:17 wrote about this creating a global 51:19 system of credit and money for the very 51:21 purposes of creating an empire in 51:22 controlling it and ultimately for 51:24 depopulation so yeah you're wondering 51:28 why they're doing you think it's just 51:29 insane well no there's a plan to it it's 51:31 a reason for it I mean why would you 51:34 create the system so over extension why 51:36 do this unless you're expecting some 51:39 sort of Oh reduction of the herd well 51:44 they're doing it to benefit themselves 51:45 yeah and you know basically we're 51:50 dealing with the malevolent secret 51:52 society that has population reduction as 51:55 its primary goal and and so when you see 51:59 like a world war one and you can't 52:02 figure it out well try to plug in the 52:05 idea that this is population reduction 52:09 you sent me a internet link it was about 52:16 a book now that has been written by a 52:19 member of skull and bones oh yeah he 52:21 doesn't say his skull bones but well but 52:24 anyway he yeah I mean I think he did 52:25 actually I think I think in the he he 52:30 Said's that he was a member of skull and 52:33 bones but that he he he didn't mention 52:40 who he his name was and you know it's 52:44 like a supposably um the books and title 52:48 skull keys in history VLC was like oh I 52:51 see you're right maybe he doesn't know 52:54 it no he actually identifies himself and 52:56 it says he's a member of skull and bones 52:57 but anyway the point I wanted to make 53:00 was is that the book talks about the 53:07 participation of skull and bones in the 53:11 Civil War 53:11 yeah it was interesting and and it 53:14 points out that that Jefferson Davis 53:18 right had his closest advisor John 53:20 Perkins as a member of skull and bones 53:22 and that that's Perkins from the opium 53:26 trade right exactly the same guys 53:29 so you have the all right so now you've 53:30 got the East trading company involved 53:33 here and then you have you know the 53:41 Russell who was the one of the founders 53:46 of the Skull and Bones was very close 53:48 friends and adviser to John Brown yes 53:52 all right now in fact he was one of the 53:54 trustees of John Brown's will know that 53:56 is truly amazing and and now it gets not 54:02 out of it now finally that the fact is 54:05 varied the fun that really made it you 54:07 know I think it makes clear to people is 54:08 that is that Davis was Jefferson Davis 54:16 was captured and he was tried for 54:20 treason but the prosecutor released him 54:24 from union custody and the prosecutor 54:27 amazingly was a skull and bone member 54:31 both sides of the dialectic you see so 54:35 the point is is that that little chain 54:38 of data you know of Jefferson Davis and 54:43 John Perkins and John Brown and and 54:47 you've got all of the Confederate Skull 54:49 and Bones people leading you right off a 54:52 cliff and when when Davis is is caught 54:58 he gets released from union custody 55:01 because the prosecutor was also a skull 55:03 and bones member now when you think 55:05 about how few people are in skull and 55:07 bone this is nineteen you know forty for 55:09 God's sake 1902 the u-19 June 1865 yeah 55:14 now when when Davis was Captain Jeff 55:19 David was captured he points out that he 55:23 was captured with two skull and bones 55:25 membered right these are as advisors the 55:29 whole thing he said this like the 55:30 Kennedy assassination 55:33 numbers everywhere you know they're all 55:36 dizzy skull okay now okay but then Davis 55:41 gets released 55:42 and the prosecutor was the skullenbones 55:44 him this is that that's a critical point 55:47 because that shows you that they they're 55:49 on both act the whole same snake that 55:51 the war was just a way to kill a bunch 55:53 of Irish Catholics basically yeah yes 55:55 this is this and to get rid of a lot of 55:58 wealth that in people that weren't 56:01 inside the guilt it was a skull and 56:03 bones maneuver they they got involved 56:05 with the political forces on both side 56:08 they created a confederacy basically he 56:11 and and once they had the political 56:14 structure aligned right then they ran 56:16 the armies into each other and killed a 56:17 bunch of people you know pay for john 56:19 brown's black op you know down there 56:21 yeah and stir up in kansas bird up well 56:25 don't mean to belong win it but the 56:27 point is okay that's how you should be 56:31 looking at the banking system and when 56:34 you you just went through like the 56:36 signal like well why are they doing is 56:38 what is the long-term goal long-term 56:40 goals population or dr. totalitarianism 56:42 yeah their their basic creating a 56:46 one-world new world order where there'll 56:49 be a one-world currency and they asked 56:51 where we're headed and ultimately yeah 56:52 you need financial weapons to achieve 56:54 that to get the resources and you know i 56:56 mean well they can't do it without 56:58 without access to capital to money they 57:02 don't the way they get it is to 57:04 basically just to create out of thin air 57:06 they control the financial system 57:08 political system so they can manufacture 57:09 this wealth use it to create the 57:12 technology to enslave people to reduce 57:14 population and then when they the next 57:17 step is pretty you can see in the future 57:19 where it worked where the banking system 57:20 is taking us it's going to fail yeah and 57:24 now when it fails martial law how does 57:30 the food supply who's going to control 57:31 it well i think the government will 57:32 control it them and i you know i think 57:35 you're just going to have a whole mole 57:38 Holodomor on a large scale you know in 57:44 the united states you know there's a I'm 57:47 that's what I'm afraid I was reading a 57:49 book john Hamer's book behind the 57:52 curtain 57:54 a chilling expose of the banking system 57:56 and he is a begins with a case a legal 58:00 case oh we need to just describes a 58:02 fraud the basic fraudulent nature of the 58:04 banking system particularly how loan 58:06 loans create money how when the bank 58:08 makes a loan they actually creates some 58:09 money it's not loading out money it's 58:11 saved or is saving for somebody it 58:13 actually creates money and then it 58:16 collects interest on it and gets the 58:17 principal back and this how 58:19 fundamentally fraudulent that is and how 58:21 contracted is there to all sense of 58:23 justice and normal accounting and the 58:25 idea of Finance and the economy but um 58:29 he cites a case 1968 he goes in December 58:33 1968 December 1968 saw a landmark court 58:36 case in the appropriately named township 58:38 of Credit River Minnesota USA first 58:40 National Bank of Montgomery versus Daley 58:42 was an epic courtroom drama and 58:44 unsurprisingly not widely reported 58:46 either at the time or subsequently it is 58:48 actually extremely significant Jerome 58:50 daily a lawyer by profession defended 58:52 himself against the bank's attempted 58:55 foreclosure on his fourteen thousand 58:56 dollar mortgage on the grounds that 58:58 there was no consideration for the loan 59:01 consideration in legalese refers to the 59:03 items exchanged as an essential element 59:06 of any legal contract Daly contended the 59:09 bank offered no consideration for his 59:11 loan on the grounds they created the 59:13 money out of thin air by a bookkeeping 59:15 entry and had therefore not suffered a 59:17 loss another relevant point of law by 59:19 his refusal or inability to pay back the 59:21 money the proceedings were recorded by 59:24 Justice William Drexler who had given no 59:26 credence whatsoever 59:27 to the defense until Morgan mr. Morgan 59:29 that's funny name for bank owner mr. 59:31 Morgan the bank's president took to the 59:34 witness stand to Drexler's and indeed 59:36 everyone else's present everyone else 59:38 presents great surprise Morgan casually 59:40 admitted under questioning from Daly's 59:42 lawyer that the bank receipt routinely 59:44 created money out of thin air for all 59:46 its loans and the mortgages and this 59:48 indeed was standard practice in all 59:50 banks reciting justice Martin Mahoney 59:52 declared it sounds like fraud to me 59:55 accompanied by nods of murmurs of assent 59:57 from all around the courtroom in the 59:59 summation of the case judge Mahoney 60:00 reported that plaintiff the bank 60:03 admitted that in combination with the 60:04 Federal Reserve Bank of Minneapolis 60:07 did he create the entire $14,000 in 60:09 money and credit upon upon its own bet 60:12 books by goodbye bookkeeping entry that 60:15 this was the consideration used to 60:17 support the note dated May 8th 1964 and 60:20 the merge of the same date the money and 60:23 the credit first came to existence when 60:24 they created it Morgan admitted that no 60:28 United States law or statute existed 60:30 which gave him the right to do to do 60:32 this a lawful consideration must exist 60:34 and be tendered to support the note so 60:37 the court decided so the court duly 60:38 rejected the bank's claim for it for the 60:40 foreclosure and the defendant kept his 60:42 house the implications of this case 60:44 therefore should have been a 60:46 far-reaching 60:46 if bankers are indeed extending credit 60:49 without consideration which most they 60:51 most definitely are ie without backing 60:53 their loans with real money they 60:55 actually have stored in their vaults and 60:56 and we're entitled to lend any judicial 60:59 declaration any judicial declaring any 61:03 judicial decision rather than clearing 61:05 their loans void would topple the entire 61:07 world financial and banking system 61:09 Jerome Daly subsequently wrote in a 61:11 local news article the decision which is 61:13 legally sound has the effect of 61:15 declaring all private mortgages on real 61:17 and personal property and all US estate 61:19 bonds helped by the Federal Reserve 61:21 national state banks to be null and void 61:23 this amounts to an emancipation of this 61:26 nation from personal national and state 61:27 debt reportedly owed to this banking 61:29 system every American hosted to himself 61:31 to study this decision very carefully 61:33 for upon its for upon it hangs the 61:35 question of freedom or slavery 61:38 perhaps needless to say the decision 61:40 utterly failed to change the prevailing 61:41 practice even though it was never 61:43 legally challenged or overruled Justice 61:46 Mahoney actually threatened to prosecute 61:47 and expose the bank as a result somewhat 61:50 unsurprisingly he died less than six 61:52 months after the daily trial an 61:54 extremely suspicious boating accident 61:55 and the subsequent autopsy revealed his 61:58 body to have been full of some 61:59 unspecified kind of poison where anyone 62:02 who stands in the way of these people 62:03 and then affairs practices since the 62:06 precedent many other defendants have 62:07 attempted it that mortgages and loans 62:09 nullified using the same defense's daily 62:11 but there have been they've been 62:12 extremely limited success only in the 62:14 fact that one Jed said strictly off the 62:16 record if I let you do that 62:19 you and everyone else it would bring the 62:20 whole 62:21 he's system down I can't let you go 62:22 behind the bar of the bank 62:24 we will not go behind that curtain 62:28 hilarious 62:29 so yeah well that's it that's a great I 62:32 didn't I was unaware of that decision 62:34 but yeah if I mean at first it was 62:37 completely accurate hehehe and the logic 62:40 is just done you know uncontestable and 62:43 they're right did the banking system 62:45 would collapse 62:46 however the beneficiary would be the 62:48 nation he we would be free of this 62:52 parasitical and illegal user e that that 62:57 you know we we are subjected to every 63:00 single day and our nation would flourish 63:03 so this you know like one of the things 63:07 that I'm often than you know talking 63:11 about is what is the target of the 63:14 alternative media I mean what can we do 63:16 you know we we come to some 63:18 understanding and we know that you know 63:23 we're in real trouble we're never under 63:24 attack so how do we respond well here's 63:27 a target you know this is to me this is 63:29 the easiest target to get out of the 63:30 banking system and this is where I would 63:33 like to see everyone just focus their 63:34 efforts just go after the banks just try 63:38 to get people to understand that the 63:40 system is parasitical it's illegal and 63:43 they shouldn't have pay their you know 63:45 any any debt just yeah and this we need 63:48 a jubilee the blimey interest right yeah 63:53 and a lot of that is just like it like a 63:56 lot of criminal institutions that we 63:58 live under I mean these we inherit them 64:00 and we just accept them you've probably 64:02 experienced this if you've talked about 64:03 the criminal financial system or the you 64:06 know the crimes of the Pentagon and the 64:08 Empire people will just roll their eyes 64:09 they didn't want to they can't it's it's 64:13 either they're overwhelmed by it or they 64:15 they know they were beguile by they 64:17 don't want to consider it because it 64:18 upsets their worldview their 64:21 understanding of things look at the the 64:24 role again in the financial system we 64:26 haven't even touched on the role that 64:27 narcotics play narcotics trafficking 64:29 plays in this yeah 64:31 and how it the narcotics not only 64:33 probably monetize much 64:35 of the US debt by US government bonds 64:37 but that keeps Wall Street afloat it 64:40 funds lot of these corporate mergers 64:43 like the famous RJR nabisco emerging 80s 64:46 was funded by narcotics trafficking of 64:48 laundry to cigarette sales in in Eastern 64:51 Europe at least a huge huge things a lot 64:55 of the corporate concentration that 64:56 we're experiencing today the destruction 64:58 of small to midsize companies the 65:00 destruction of local businesses is being 65:02 fueled or the capital for is the 65:05 international drug trade and now the 65:08 capital they need it to create liquidity 65:10 there they you know they banks often 65:14 times don't have any money 65:16 you know it's just I think everything is 65:19 loaned out it's all that remained the 65:20 deposits are long gone where is their 65:22 actual cash they've got reserves all 65:25 over the world but no actual cash well 65:26 the money comes from the drugs well this 65:28 is where the people are their own enemy 65:32 because they don't want to unplug from a 65:34 system which is destroying them the 65:36 tapeworm economy uh cash ran a Katherine 65:40 Austin Fitz tells a story where she was 65:42 mmm giving an address to an audience of 65:46 about a hundred people who she generally 65:48 considers more aware than the typical 65:51 you know public and she spelled out the 65:55 role in the cottage trafficking plays 65:56 and I'm inflating the values of their 65:59 401ks yeah because they're invested in 66:03 corporations where the drug money is 66:05 laundered now it's laundered it's it's 66:07 pretty simple if you're you know KFC or 66:09 Burger King or McDonald's or changed 66:11 like that look with drug dealer will use 66:15 that business to funnel you know to 66:17 launder the money ultimately these 66:20 corporations are publicly traded and 66:23 people own these corporations and their 66:25 401ks and this keeps the stock value 66:28 high and if you know it's the net earn 66:30 earning to value earning two values 66:32 ratio and these things so if you're you 66:35 know if you have a hundred thousand 66:36 dollars being pumped into a business 66:37 that'll raise the stock value by a 66:39 million dollars roughly and so it's 66:41 keeping everyone rich at the same time 66:43 these drugs are destroying the 66:44 communities in which they live and she 66:46 has this thing called the 66:48 Larry indexes of popsicle indexes how if 66:52 you look at the that the people's 66:54 personal debt and their standard of 66:56 living whether they're living you know 66:59 their quality of life has to has gone 67:01 down as the Dow Jones Industrial Average 67:02 has gone up you know sure and there's a 67:05 connection there because a lot of this 67:07 is related to to the drug trade and she 67:10 what she talks about she explained this 67:12 and she said no if I were probably able 67:13 to press this button and stop the sale 67:16 of drugs in your community but it would 67:17 cause your foreign case to value 67:20 deployment would you do it and out of 67:22 100 people only one said yes yeah the 67:26 drug the drug the huge lump of liquidity 67:31 I think really is basically that the 67:36 industry that keeps the interbank 67:39 lending in America basic distance but 67:43 there there are new the narco dollar is 67:47 as important as the petrodollar yes the 67:49 Naruto the Swiss central bank has been 67:55 buying stocks to twist stocks and also 67:59 international stocks but a lot of Swiss 68:01 stocks now where does it get the money 68:03 it doesn't use the money just invents it 68:07 so this is a real I mean talk about 68:10 totalitarian you have a private bank 68:14 because the Swiss central bank has the 68:15 same provenance that the US Federal 68:19 Reserve does is using its power to 68:22 create credit simply for the purpose of 68:26 buying stocks for itself it becomes the 68:30 owner they put these things as assets 68:32 which in you know and people are not up 68:37 in arms even though this is going to end 68:39 up with the the central bank being the 68:41 only shareholder owner and in 68:43 Switzerland at some point in the future 68:45 because right now their share values are 68:47 through the roof right yeah yeah because 68:50 they're bought yeah because we've all 68:52 said you were all benefiting from from 68:54 the idea that well let me tell you 68:57 something you don't benefit 68:59 when you are in competition for the 69:01 ownership of a corporation with an 69:03 entity that can vent capital know this 69:06 power is the is the genie it's the 69:11 alchemy and if you don't put this back 69:14 into the bottle you will have no freedom 69:17 there will be no democracy in this world 69:19 there will simply be you know the 69:22 banking families and whoever they are 69:24 and whatever they are that group will 69:26 rule this world and everyone everyone 69:28 will be working at an Amazon 69:29 distribution center or Walmart those 69:33 that are alive but I mean I don't think 69:34 you know there's to my mind you know the 69:39 the Georgia Guidestones were not created 69:43 cheap I mean I don't have you ever 69:46 studied them but a lot of money went 69:49 into the creation of that Monument and 69:52 it talks about I don't know 500 or 400 69:55 billion million people it's one tenth of 69:59 the population meaning that you know 90 70:02 percent is gonna have to die to get to 70:04 where it wants to take the planet and I 70:07 think that's what's going to happen I 70:09 think that this is in the banking system 70:12 the one who were suffering from is 70:15 really the it's the arrows tip because 70:18 that's really what's going to create the 70:21 financial chaos that will create the 70:24 martial law which will then start the 70:26 onset of the of the real population 70:29 reduction you know you look at World War 70:31 one the Civil War the 30 Years War World 70:35 War two Vietnam War Tim we haven't seen 70:38 anything in my opinion the genocide in 70:43 the future is going to make the rest of 70:45 this stuff look you know but now trivial 70:49 you know to get to the the population 70:52 numbers they want you're gonna have to 70:53 lose a whole bunch of people so I think 70:57 we should be trying to organize 70:59 ourselves trying to get understanding of 71:01 of our world you know and in as quickly 71:06 as we can and and share information and 71:09 try to find somebody to resist because 71:11 I don't think the plans that they have 71:14 are hard to understand and I I really 71:16 don't think they're that far away mm-hmm 71:19 yep if there's a general crisis don't 71:23 support any plan to centralize and these 71:25 things and don't sit don't don't panic 71:29 the render for new world currency 71:32 because it immediately buys you 71:33 something that's something they get you 71:34 desperate and they get you roped into a 71:36 system it's like running into a Fema 71:37 camp or something because they're 71:38 offering you food or something exactly 71:41 don't thing is is the people are so 71:43 unprepared at this point it's hardly 71:47 know what to do yeah yeah because you 71:50 know for the vast majority people that 71:52 they just don't have anything they are 71:53 completely dependent upon the banking 71:55 system they don't even know it but the 71:58 banking system is basically what feeds 72:00 them what keeps them alive it's the 72:02 alchemy yep it's it's the well yeah it's 72:05 yeah they're addicted to it and the and 72:08 you get it you know it's like being a 72:09 heroin addict or something you crave it 72:11 you crave the very thing that that's 72:12 destroying you there's an interesting 72:15 several years ago I was watching a Ken 72:18 Burns series on prohibition and he and 72:23 he talked about there's convention in 72:26 Atlantic City I think in 1928 or 1929 72:28 with the various bootleggers gangsters 72:31 met to try to organize and catalyser 72:32 rationalize their business and um they 72:36 were gonna break it up and into various 72:38 regions and the model they want to 72:41 follow was the 12 regions of the Federal 72:44 Reserve System 72:46 well that's appropriate sure that's it 72:52 why not yeah a good model to follow for 72:57 criminals but you know we need to to 73:01 recognize that the alchemy is going to 73:03 be done away with at some point and then 73:06 what will we have left we need to start 73:09 creating some political power you know 73:11 and and that the one thing that I hope 73:16 you know it doesn't occur is this whole 73:19 idea about you know prepping and bug out 73:23 you know you're not going 73:25 to go into the forest and live off of 73:28 deer and you know natural plants and 73:32 things I mean they're building all that 73:34 there will be so many hungry people 73:35 wandering around it's just not going to 73:38 make any sense we really need to do is 73:40 to stand and fight right now and people 73:43 have the understanding that would enable 73:46 them to be Preppers they're the ones 73:48 that really should have the 73:49 responsibility of going into the public 73:51 in trying to raise political awareness 73:54 awareness is the big thing here because 73:56 as the world has such immense wealth and 74:00 what wealth potential if you get out of 74:03 this system 74:03 people people can live far better and 74:06 you support for many people so there's 74:07 always fear about overpopulation that's 74:09 just an excuse for genocide but I'm not 74:12 I mean you're getting out of the system 74:14 one next day I mentioned the Jubilee 74:16 relief from the system which which 74:17 historically people understood people 74:20 understood the idea of unsustainable 74:21 debt it's too much we got to let it go I 74:24 think every 7 years was in the Bible or 74:26 something we're going on how many we're 74:28 going on what 75 80 yeah yeah and I mean 74:34 look at the past I mean even the 19th 74:36 century we have like they these wasn't 74:38 perfect but you're the banking system 74:40 was highly decentralized as a result 74:43 whenever there was a panic the panics 74:45 were kept local and yeah and also 74:47 because uh bankers couldn't get away 74:49 with too much lend and they were dip 74:50 they were more disciplined in their 74:51 lending and he had growth you had real 74:54 economic growth you had non-inflationary 74:55 growth you don't need inflation 74:57 Freakonomics growth but but again ever 75:01 since the 20th century we've we've 75:03 equated we need you know you know the 75:08 Fed has to heat up the economy cool down 75:10 the economy that all this you know the 75:12 new economics the 1960s Keynesianism 75:15 which is just an excuse to to rob people 75:17 and excuse for militarism it was that 75:21 you know obviously someone like Keynes 75:23 who told them give politician excuse to 75:25 print a bunch of money and spent it yeah 75:27 we like that idea 75:28 first let's do it because in the end 75:30 once when he was confronted with the 75:32 contradiction of his own theories he 75:34 said well in the end we're all dead 75:36 anyway 75:37 yeah thanks a lot 75:39 you know he's just a Masonic cesspool I 75:42 mean he he basically was part of the 75:45 Bentham you know Adam Smith group that 75:49 was coming up with a rationale for neck 75:53 slavery in a content for posterity me 75:55 because obviously we're not all dead we 75:57 have children right and we care about 75:59 that it's ridiculous yeah I was just 76:02 absurd so you know so this is just part 76:07 of the philosophy of the group that we 76:10 can see what they were like by the Irish 76:15 us you know the this is a really good 76:19 indicator of what Palmerston and Bentham 76:23 and Adam Smith and and Keynes really 76:27 word was they were organized into this 76:29 Masonic genocide and program and 76:33 unfortunately when you look at the 76:34 federal reserve system you're just 76:36 seeing another aspect of it so you know 76:38 hopefully this is helping people build 76:41 out the schematic a little bit and this 76:47 is just another thing that is part of 76:50 our demise so we need to start thinking 76:53 of ways to replace the federal reserve 76:56 system it comes first with exposure 76:59 people have to start realizing that the 77:03 usery that we're subjected to is illegal 77:06 it's immoral and it's you know it's just 77:11 being done for no real economic purpose 77:14 other than to enrich a very tiny 77:17 minority at the expense of the entire 77:20 rest of the population yes yeah a system 77:23 of legalized plunder yeah we're all 77:25 suffering from the criminal interest 77:28 debt structure that we I mean you know 77:30 you get a 30-year mortgage on a house 77:32 yeah in the pink three times there's 77:36 like three times the principal yeah it's 77:38 crazy it's absolutely totally crazy and 77:41 so you know let's let's not put up with 77:45 it folks let's let's fight to the end 77:47 here let's get rid of that I mean if we 77:49 could just get the population to read 77:52 is that the interest should be something 77:56 that is only owned by the people that 77:59 the people's government is the only 78:00 thing that can own any benefit of 78:03 interest because we create the capital 78:05 out of our faith and credit in us e once 78:08 whose currency is debase by the creation 78:10 of capital so we're the ones that should 78:12 benefit no private corporation should be 78:14 benefiting from the creation of money 78:16 out of thin air the only people that 78:19 should benefit from that should be the 78:20 public in general and if we did that we 78:23 would reduce mean there's different 78:24 estimates but I think you'd reduce the 78:26 interest by you could reduce down by 90 78:28 percent what is and now all of that 78:31 money that is not going into the banking 78:33 cartels coffers where does it go it's 78:36 directly into the public because you see 78:39 that's money that we wouldn't be 78:40 spending those are interest payments 78:42 that wouldn't have to be made those were 78:44 credit card payments that wouldn't have 78:45 to made those are car loans I mean all 78:48 that capital becomes the the you talk 78:51 about you know the need to incentivize 78:54 to you know to create economic to think 78:57 about what that would do the direct 79:00 infusion of capital into the communities 79:04 that would no longer be bearing the 79:06 burden of that kind of debt it would be 79:08 economic you know revival in the United 79:12 States yeah well of course with a stable 79:14 currency and without inflation and 79:16 interest all these things that we we 79:19 think we need loans for we would need 79:20 loans because they'd be that much 79:21 cheaper exactly so there it is brother 79:25 I think laid it out for them pretty 79:27 clearly here okay Joe thank you thank 79:30 you to being I talking to you and we'll 79:33 talk next week next week take care have 79:34 a nice weekend all right 79:37 [Music] 80:24 [Music] 80:34 [Music] 80:55 [Music] 81:01 [Music] 81:16 [Music] 81:24 [Music]

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