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you are what for total team around the fighting blonde ahsoka when the rocks are providing gentle giants an atomic bomb attracts artifact of relating them with what is always like that welcome to another cold fusion video I'm going to start this video off with a quote Henry Ford once said it is well enough that the people of the nation do not understand our banking and monetary system for if they did I believe there would be a revolution before tomorrow morning I quote this because it encapsulates the fact that the contents of this video may be unsettling compared to the videos that I normally make I still feel compelled to make this video because I've been exploring the financial world for the last four years and it's definitely given me a more complete view of the world I want to share some of what I've come across with you guys I'm also going to do a video about crypto currencies like Bitcoin in the future and to understand why Bitcoin and other cryptocurrencies may continue to rise it's critical that you understand the contents of this video I hope that you find this topic interesting and that it inspires you to do your own research afterwards now with that said let's begin anybody know one of the rugs they've gone to market so he controls all of our money it's a simple question we all know that you and I don't control our employees don't controller the companies that they work for don't controller so who does where does it even come from in the first place I'll give you a hint money does not come from the government it's a seemingly obvious question that's never asked or taught in schools for some reason unfortunately most people's lives are basically dedicated to money it's all people ever worried about or talked about we go to school to learn basically how to go to university to learn the skills to get a good job so that we can trade hours of our lives all for this thing called money so why wouldn't you want to know where money comes from and who issues it today in this very special video you're about to find out the answers of a question of who controls all of our money people today can tell something isn't quite right with our financial system but they just can't put their finger on it some people think it's the failure of God and others think that it's a failure of capitalism itself this video should clarify a few things the year 1694 and England had just suffered through 50 years of war exhausted the English government needed loans to fund their political means brainchild of Scottish banker William Paterson it was decided that a privately owned bank that could issue the money to the government out of thin air was to be the solution this was the very first modern central banking system in the world central banking is more influential than laws governments and politicians but strangely not the focus of the general public fast forward to the early 20th century and after three failed attempts a group of bankers wanted to put a central bank in the United States of America it was December of 1910 and senator Nelson Aldrich ordered a private train car in New York with six others the six were not to be spotted by any news reporters to avoid questions their destination Jekyll Island off the coast of Georgia the meeting went for nine days and from that they created the Federal Reserve System this is all documented and a matter of public record some of them went on to write about the meetings in the personal biographies he is a quote from Frank Vanderlip president of the National City Bank of New York February 9th 1935 in The Saturday Evening Post I was a secretive indeed is furtive as any conspirator discovery we knew simply must not happen or else all our time and effort would be wasted if it were to be exposed that our particular group had got together and written a banking bill that bill would have no chance whatever a passage by conscience the six men that Nelson Aldrich brought together included the head of banks branches of government such as the Treasury and some of the richest people on earth at the time to give you an idea of how rich they were in 1910 these six men represented a quarter of the world's worth the bankers told the American public that the purpose of the system was to stabilize the economy and to stop the grip of the Wall Street banks over America the problem was the guys that wrote the bill were the very same people they said they'll stop if they succeeded it will give a small group of men the ability to create money from nothing and learn it in the American government with interest so why was it done in secret because the American people didn't want a central bank back then unlike today people knew what central banks were and understood them very well everywhere a central bank went they'll be wealth inequality wild swings between economic booms and paths and after each bust those in the top of society mysteriously came out richer while everyone else got poorer you're opposed a running example of this at the time the Federal Reserve was originally drast is the outreach bill but when it came into Congress they recognized them as outrageous named and smelt a rat the bankers needed better cover they decided to send to millionaire friends to carry the bill to quell the suspicions of Congress and renamed it the Federal Reserve Act next in textbook lesson of the seat the bankers set out to fool the American people through disinformation in the newspapers of the day the bank is screened and protested against the new Federal Reserve bill it would ruin the banks they exclaimed the average person read the protesting articles of the bankers and thought to themselves if the bankers hate it it must be good and then they ended up unknowingly supporting a Trojan horse the bank is also full Congress by putting clauses in the bill that limited their power only to remove them once the bill was passed a double head fake of the public and Congress was all it took the bill was passed on December 23rd 1913 while most of Congress was out on holiday and with that a small group had complete monopoly over the issuing and creation of American money today the Federal Reserve is the most powerful entity in the United States and they're not ashamed to admit it either he is former Fed Chairman Alan Greenspan what should be the proper relationship between the chairman of the Fed and a President of the United States well first of all the Federal Reserve is an independent agency and that means basically that there is no other agency of government which can overrule actions that we take what relationships are don't frankly muttering in addition to this it seems that the Fed can't even be touched by investigating parties so I'm asking you if your agency has in fact according to Bloomberg extended nine trillion dollars in credit which by the way works out 30,000 dollars to every single man woman and child in this country I'd like to know if you're not responsible for investigating that who is we actually we have responsibility for the Federal Reserve's programs and operations audits to conduct audits and investigations in that area in terms of who's responsible for investigating would you mind repeating the question one more time mr. chairman my time is up but I have to tell you honestly I am shocked to find out that nobody that the reserve including Inspector General is keeping track of this so what does all of this have to do with me you might be asking I don't even live in the US well two reasons number one the central banking model from the Bank of England and the United States has now been put in all countries and even consolidated power in parts of Europe as the European Central Bank ECB disunited separate countries under one economic policy the only places in the world that don't have central banks are North Korea Iran and Cuba in 2000 this list suspiciously included Afghanistan Iraq and Libya and number two since the end of World War two the US dollar has been the reserve currency of the world this means that all central banks hold US dollars in their reserves in other words all other currencies are backed by the US dollar this directly links to your country to the Federal Reserve's monitoring policy in America more on this later when the post-world War two monetary system called the Bretton Woods system was created all who US dollars were backed by and exchangeable for gold a byproduct of this was that currencies used to be very stable in relation to each other for that all the countries the exchange rates were fixed in year after year you could predict what prices were going to be you could start a business elsewhere know if you were you know you could calculate profits business was much much easier before for live exchange rates unfortunately in 1971 due to a falling US dollar international capital flows into gold and the funding of the Vietnam War President Nixon took the u.s. dollar off the gold standard I have directed secretary Connally to suspend temporarily the convertibility of the dollar in the gold or other reserve assets now the dollar was flighting and backed by nothing and has been ever since okay so let's think a little if the US dollar is backed by nothing but the world reserves are backed by the US dollar intrinsically since 1971 doesn't this mean that all currencies are now backed by nothing tangible only trust in the American government well this is correct money backed by nothing is known as fiat currency fiat in Latin means let it be done in other words the government says it is money so it is a consequence to having money backed by nothing is that whenever the Federal Reserve creates money it dilutes the currency supply of all other nations because their reserves are backed by the US dollar all countries reserves are worth less each time money is created in the past few years the Federal Reserve has printed trillions of dollars and countries like Russia and China have noticed this as a reaction to the money printing these countries have been selling u.s. dollar reserves and buying gold over the same period but wait a second some of you clever thinkers out there may have asked yourself if every currency on earth is backed by nothing how am i able to pay for things well as it turns out the whole economic system today is running because of the backs place faith faith that you can exchange your unit of currency for goods or services in a way part of that faith comes from the fact that not many people actually know where money comes from we're about to find that out in this video a central bank is essentially the entity that manages a nation's money supply and it can loan money to the government with interest in the United States and most other countries it works like this when the government needs more money than they received from taxes they asked the Treasury Department for money the Treasury then receives an IOU or blonde from the government the Treasury through the banks gives this IOU to the Federal Reserve the Fed then writes a check for this IOU and hands it to the banks at this exchange at the bank's money is created and it can be used to pay government bills so hang on where does the Fed get the money to be able to write this check they get this money from nowhere they literally just invent it here's a quote from the Boston Federal Reserve quote when you or I write a check there must be sufficient funds in our account to cover the check but when the Federal Reserve writes a check there is no bank deposit on which that check is drawn when the Federal Reserve writes a check it is creating money end quote so in essence they're writing a check and creating money from an account that has no money in it the money the Federal Reserve creates can be used as legal tender to buy things and eventually makes its way into the real economy if you and I did that would go to jail for fraud but they can do it because they invented the system this is the same system used throughout the world today another part of this money creation happens to the commercial bank side every time you take out a loan to buy a house car or TV banks create money out of no to give you this Lane and you still have to pay interest on it and don't just believe me when I say that hear it for yourself from the horse's mouth the people running the system Graham Taylor's former governor of the Central Bank of Canada states quote each and every time a bank makes a loan new credit is created new deposits brand new money end quote Paul Tucker their fili governor of the Bank of England quote banks extend credit by simply increasing the blurring customers current account and quote so what they're basically saying is that each time the bank makes a loan the bank doesn't use other people's deposits of money and give it to you it creates new money in modern times this means typing digits into a computer 97% of all money is literally created like this only 3% is the physical cash and coins that we carry another crazy thing that commercial banks can do is lend out 10 times more money than they actually have in reserves this is called fractional reserve lending so who wrote this ridiculous system into law for the United States it was part of the Federal Reserve System drafted in 1913 and again this is the same system used throughout the world so what's the issue why should I even care all this consequences when more loans are given out more money is created and the rest of the money in circulation is worth less and less as the years go on this is known as inflation in a way inflation is basically a tax that we all pay for the fraud of money printing easy money now in exchange for tax on our future generations it's also a way in 1950 a house used to cost $7,000 and a car $2,000 obviously this is no longer the same today things will always keep getting more expensive as long as this system is in place this was actually kind of ok because wages grew in relation to inflation until about 2008 why this stopped happening is a story for another day so things are ready pretty crazy but they get even crazier the more you look into it the stranger things become so remember how we're talking about how central banks and commercial banks can create money out of nothing this procedure actually does create something it creates debt let me explain when you take out a loan it's written down as an asset in the bank as a negative form kind of like a negative value of money or otherwise known as debt under this system debt is actually money and again don't just listen to me Marriner Eccles former governor of the Federal Reserve states quote if there are no debts in our money system there wouldn't be any money so in essence instead of gold being the backbone of our economy is now debt the system were under now is sometimes referred to as the debt based monetary system it requires that debt always grows countries and people must become deeper in debt so that there's more money in the system because remember that is money if people aren't government stopped borrowing money and paper claims that that doesn't grow the money supply shrinks and the system falters it truly is bizarre but we all live in this system each and every day Music the Federal Reserve and other central banks control money by adjusting its supply and how much it costs to borrow money otherwise known as the interest rate with these tools and as a consequence of human group psychology central banks and create booms and busts in the economy at will and also to store and derail an economy by messing with it let's take a quick case study in the year 2000 Federal Reserve Chairman Alan Greenspan cut interest rates to 1% he did that to try and fight off her assessment from the dot-com bubble and encourage people to borrow money when interest rates are low if you're borrowing money you save a whole lot on repaying mortgages since the 1% interest rate hadn't been seen at the time since the 1950s it was a pretty good deal Greenspan's idea was that he could create a wealth effect people would start to buy houses the prices would go up and the people would feel wealthier and spend more money in the economy and stimulated Greenspan's sure succeeded in getting people to borrow money to buy houses but they borrowed too much and the results was the 2008 housing bubble this is a prime example of what can go wrong when central bank's mess with an economy yes corrupt bankers have a lot to answer for on their role in the 2008 crisis but the Fed has a far bigger long-term impact even crazier things are happening in Japan their central bank is playing so many stocks today with a number one buyer of Japanese stocks in 2016 so they have part ownership of companies with money that they created from nothing so in essence it is the central banks that control our economy and the central and commercial banking system together that control all of our money the difference is central banks can create money at will while commercial banks need loans to create money Music to give you an idea of people's views of central banking when people actually knew what central banks were here's a couple of examples in 1881 then President of the United States James Garfield states quote whoever controls the volume of money in any country is absolute master of all industry and commerce and when you realize that the entire system is very easily controlled one way or another by a few powerful men at the top you will not have to be told how periods of inflation and depression originate end quote Benjamin Franklin in his autobiography stated that the prime reason for the American War of Independence was a battle over who actually controlled and issued the money of the new colonies moving on to more modern times Nobel prize-winning economist Milton Friedman states quote the Federal Reserve definitely caused the Great Depression by contracting the amount of currency in circulation by one-third from 1929 to 1933 and quite so with all this being said some would argue that central banks are not inherently a bad thing they just need to be part of the government and not privately-owned the government should be able to issue its own money for the benefit of the people and shouldn't have to pay a massive interest on its own debt this was tried at least once in the United States by President Lincoln he stated this the government should create issue and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers by the adoption of these principles the taxpayers will be saved in mints sums of interest money will cease to be mastered become the servant of humanity Abraham Lincoln then issued his own government money it was called the greenback no further comments on that story so I think we'll end the video there there's so much more that I can cover about what central banking decisions led to what revolutions around the world pretty much when you look at it all revolutions and all wars when you dig through everything it all boils down to money I could also have talked about the new global movement of those who are rejecting the debt based economic system people are starting to move their currency into gold silver and crypto currencies like Bitcoin so there is a light at the end of the tunnel that's a whole nother story for another day anyways if you've watched the whole way through this video congratulations you're one of the few who have found out the hidden truths about who controls all of our money I think it'll only met about four people in real life that have been aware of a debt based economic system it's strangely unknown but is this true is anything I haven't showed you all the quotes of the bankers and the former heads of the Federal Reserve telling you from their own mouth how the system actually works if this is your first time hearing all of this I encourage you as I said before to do your own research and then you'll start to see the bigger picture and the world today will make a whole lot more sense if you want some good starting resources I recommend Mike Maloney is hidden secrets of money series it's here on YouTube and I'll leave a link below Mike is a very knowledgeable guy that had some great long conversations with him about the economy if you're into reading and you want to know more about the history of the Federal Reserve I recommend the book by G Edward Griffin the creature from Jekyll Island so anyway I think I'll stop talking now thanks for watching this video this has been - go go you're being watching cold fusion feel free to subscribe to this channel if you need this isn't the stuff I normally make but I think you'll like the other stuff anyway I really hope you learned something from this fear and I'll see you again soon for the next video cheers guys have a good one cold fusion it's me thinking Music you