00:00:02
You are about to learn one of the
biggest secrets
00:00:05
in the history of the world. It's a
secret
00:00:09
that has huge effects for everyone who lives
on this planet.
00:00:14
Most people can feel deep down that
something isn't quite right
00:00:18
the world economy, but few know what it is
00:00:21
Gone are the days where a family can
survive on
00:00:24
just one paycheck, every day it seems things
are more and more
00:00:28
out of control, yet only one in a million
understand why.
00:00:32
You are about to discover
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the system that is ultimately
responsible for most of the inequality in our
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world today. The powers that be do not
00:00:42
want you to know about this, as this system
is what has kept them at the top of
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the financial food chain for the last 100
years.
00:00:50
Learning this will change your life
because it will change the choices that you make.
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If enough people learn it, it will change the world...
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because it'll change the system.
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For this is the biggest Hidden Secret Of Money.
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Never in human history have so many been
plundered by so
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few,
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And it's all accomplished through this, The
Biggest Scam
00:01:14
In the History of Mankind
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They say that money doesn't grow on
trees
00:01:23
but the truth is that the modern banking
system creates currency far faster than
00:01:28
trees can grow.
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Most people don't have a clue how
currency is created
00:01:33
economists and bankers make it sound so
complex that people think they can't
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understand it.
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But I'm going to strip our monetary
system down to its
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essence so you can see the scam behind
the curtain
00:01:44
and just how it affects you. Every modern
society creates currency in pretty much
00:01:48
the same way
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but since the US dollar is the majority
of the world's currency
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I'm going to use the United States as
our example. It all starts when some
00:01:57
politician says 'Vote for me and I'll
make sure the government provides you more
00:02:00
free stuff than my opponent will'
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But there's no such thing as a free
lunch - so to provide that supposedly free
00:02:07
stuff the politicians
00:02:08
vote for the country to spend more than
its income. This is called deficit spending.
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To pay for that deficit spending the
Treasury borrows currency by issuing a
00:02:17
bond.
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So what's a bond? If you think about it a
bond is really nothing but a glorified
00:02:24
I.O.U. It's a pretty piece of paper
with numbers printed on it that says
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'Loan me a trillion dollars today and I
promise over a 10-year period
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I'm gonna pay you back that trillion
dollars plus interest.'
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But what you need to understand is that
Treasury bonds
00:02:39
are our national debt. These glorified
I.O.U.s
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are to be paid back by you and I and our
descendants through future taxation.
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Therefore:
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When the government issues a bond it
steals prosperity
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out as the future so that it can spend
it today. The Treasury then holds a bond
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auction
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and the world's largest banks show up and
compete to buy part of our national debt
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and make a profit on by earning interest.
You'll notice that as we move through
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this process
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the big banks are there taking a cut
every step of the way.
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This isn't by chance as you'll see
shortly. Then,
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through a shell game called Open Market
Operations the banks get to sell some of
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those bonds to the Federal Reserve
00:03:19
at a profit. To pay for the bonds the Federal
Reserve
00:03:22
opens up its big old checkbook and
writes bad
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bogus counterfeit checks that should
bounce because they're drawn on an account that
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always has a zero balance, there isn't
one penny
00:03:33
in there. To quote from the Boston
Federal Reserve: 'When you are I write a
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check there must be sufficient funds
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in our account to cover that check, but when
the Federal Reserve writes a check
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there is no bank deposit on which that
check is drawn.
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When the Federal Reserve writes a check
it is creating money."
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The Fed then hands those checks to the
banks and at this point currency
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springs into existence.
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The banks then take that currency and
buy more bonds at the next Treasury
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auction.
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But what is a check? A check is also
an I.O.U.
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When you write a check you're making a
note that says "Here's my I.O.U. for
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cash,
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all you have to do is go to the bank and
pick it up." Now it's very very important
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that you understand this process
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because we're going to come back later
and show you the devastating effect this
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has on you.
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The treasury issues I.O.U.s, (bonds).
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The banks then buy those I.O.U.s with
currency. The Federal Reserve
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then writes I.O.U.s (checks) and hands them
to the banks in exchange for the
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Treasury's I.O.U.s
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(the bonds). And currency is created. So
what's really happening is the Federal
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Reserve and the Treasury
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are just swapping I.O.U.s, using the
banks as middlemen,
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and abracadabra presto currency
magically springs into existence.
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This process repeats and repeats over and
over again
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enriching the banks and indebting the
public by raising the national debt.
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The end result is that there's a buildup
of bonds at the Federal Reserve
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and currency at the Treasury. This process
is also where
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all paper currency comes from. The
Federal Reserve and the government
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mistakenly call it 'Base Money'
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because they didn't watch Episode 1 of
this series, and they don't know the
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difference between money
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and currency. But I will correctly
refer to it as 'Base Currency' because
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it is not money...
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it is CURRENCY, and as we've learned
there is a big difference:
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Money has to be a store of value
and maintain its purchasing power over
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long periods of time.
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We learned in Episode 1 that earlier
in our history our paper currency was
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just a claim check.
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It was a representation for real money
of intrinsic value,
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the gold and silver that was held on
deposit at the Treasury.
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You could walk into any bank and slap
your currency, like say a twenty dollar
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bill
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on the counter, and redeem it for real
moneyÉa twenty dollar gold piece.
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But now this base currency that's piling
up back here
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is really nothing but a receipt or a
claim check on an I.O.U.
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(that bond), so it's really nothing but a
supply of numbers.
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The Treasury then deposits the newly
created currency in the various branches
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of the government,
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and the politicians say "Hey thanks for
that!",
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and the government does some deficit
spending on public works,
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social programs, and war.
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The government employees, contractors and
soldiers then deposit their pay in the
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banks.
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Now this may come as a shock to you, but when
you deposit your currency with the bank
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you're not
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actually depositing it into an account
to be safely held in trust for you.
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Instead, you're actually loaning the bank
your currency,
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and within certain legal limits they can do
with it pretty much anything they please.
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This includes gambling in the stock
market, and loaning it out...
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at a profit of course.
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Now this is where the machine of currency
creation really gets cranking,
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because this is where something called
'Fractional Reserve Lending' comes into
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play.
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Fractional Reserve Lending is exactly
what it says. The banks are allowed
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to reserve only a fraction of your
deposit and long the rest out.
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Although reserve ratios may vary, I'm
going to use a 10 percent reserve ratio
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as our example.
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If you deposit $100 dollars in your
account, the bank can legally take ninety
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dollars of it and loan it out without
telling you.
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The bank must hold ten dollars of your
deposit in reserve
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just in case you want some of it. These
reserves are called 'Vault Cash'.
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But why does your bank account still say
you have one hundred dollars if the bank
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has stolen ninety dollars of it?
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Because the bank left I.O.U.s it
created called 'bank credit'
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in its place. Now I know this sounds
crazy,
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but here it is in black and white from
the Fed: "Commercial banks create
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checkbook money
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when they grant a loan simply by adding
new deposit dollars in accounts
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on their books in exchange for a
borrower's I.O.U."
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These are nothing but numbers that the
banks type into their computers,
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and even though these bank credit I.O.U.
numbers
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are very different from base currency
numbers (because they only exist in
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computers),
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they are still currency. So now there is
one hundred ninety dollars in existence.
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Now the reason people take out loans
from the banks is to buy something.
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They're going to buy a house or a car or
something like that.
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So the borrower takes the ninety dollars that
the bank loaned to him from your account,
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and he pays the seller of item. But
then the seller deposits that currency
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into his account,
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and his bank loans out ninety percent of
that,
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and leaves bank credit numbers in its
place. So now there's two hundred and
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seventy-one dollars in existence.
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This process repeats and repeats until
under a 10 percent reserve ratio
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an initial deposit of just one hundred
dollars can create up to one thousand
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dollars of bank credit
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all backed by one hundred dollars of vault
cash,
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just 10 percent. But as I said reserve
ratios vary wildly...
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on some deposits it's 10 percent on
others
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its 3 percent and on some forms of deposits
reserve requirements
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are zero! The result is that the expansion the
currency supply by the banks is
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far greater than even this example would
lead you to believe.
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So once again, when currency is deposited
in the banks,
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the banks get to lend it out and then it
gets we redeposited and relent,
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redeposited and relent, redeposited and
relent
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over and over again creating bank credit
all the way.
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This is where the vast majority of our
currency supply comes from.
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In fact 92 to 96 percent of
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all currency in existence is created
not by the government,
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but here in the banking system. Now,
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massive amounts of currency spewing into
society may at first sound like a fun
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idea...
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that is until you remember one of the
most important Hidden Secrets Of Money
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from Episode 1:
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That the prices of everyday goods and
services act as a sponge
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on an expanding currency supply. The more
currency we have
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the more prices rise.
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This is where inflation comes from. The
true definition of inflation
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is an expansion of the currency supply,
rising prices
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are merely the symptom.
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So our entire currency supply is nothing
but a couple bucks whipped up in this
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hocus-pocus scam
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where the Treasury and the Federal
Reserve swap glorified I.O.U.s
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and a bunch of numbers that the banks
just type into their computers.
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That's itÉthat's our entire currency supply.
It's nothing but a supply of
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numbers.
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Some of them printed, most of them typed,
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and there is nothing else. But if you
thought that was crazy,
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get ready to enter the twilight zone ofmodern
economics. We work for some of that
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currency supply.
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True wealth is your time, but we trade
away moments in our lives
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hour by hour, day by day, and year by year
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for numbers that somebody printed on
pieces of paper or just typed into a
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computer.
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Now those numbers represent our blood,
sweat, tears, labor,
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ideas and talent. We are what gives
the currency its value.
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But here comes the really cruel joke...we
work hard,
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so that we can save some of that currency, so
that we can pay the tax collector
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(in the United States it's known as the IRS),
they then turn it over to the Treasury,
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so that the Treasury can pay the
principal plus interest
00:11:17
on that bond that the Federal Reserve bought
with a check drawn
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on an account that has nothing in it.
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Now let's do a recap on this
section because this is where the
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system begins to rob you and I
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on a massive scale. Much of our taxes are
not used for schools, roads and public
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services,
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but to pay interest on bonds that the
Federal Reserve
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bought with a check drawn on an account that
has nothing
00:11:44
in it. The Federal Reserve is committing
FRAUD.
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But here's one of the biggest secrets
of them all:
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Before the establishment at the Federal
Reserve there was no need for personal
00:11:56
income tax. The Federal Reserve was created
in 1913
00:12:00
and that very same year the Constitution
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was amended to allow income tax. Do you
really think this was just a coincidence?
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Ask yourself how much income tax you've paid
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over your lifetime. Much of it has been
silently siphoned away
00:12:17
into the hands of those who own the
system. Yes this system has owners...
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who they are is an even bigger secret
that we'll get to shortly,
00:12:27
but first we need to understand the
mumbo jumbo of the so-called
00:12:31
'debt ceiling'. It's all based on a huge
paradox:
00:12:35
There was interest due on that bond, and
there was interest due on
00:12:40
every one of those loans that the banks made.
That means
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that there is interest due on every dollar
in existence.
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Let me ask you something: If you borrow
the very first dollar into existence and
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that's the only dollar that exists on
the planet,
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but you promise to pay it back plus
another dollars worth of interest...
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where you get the second dollar to pay the
interest? The answer is that you have to
00:13:04
borrow that one into existence
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and promise to pay it back with
interest as well, so now there are two
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dollars in existence
00:13:11
but you owe fourÉand so on and so on.
The result is there's never enough
00:13:16
currency to pay the debt.
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There is always more debt in the system
00:13:21
than there is currency in existence to
pay the debt. Therefore,
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the whole system is impossible it is
finite
00:13:28
it will come to an end one day. What
would happen if the government stopped
00:13:33
borrowing to do deficit spending?
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Are the payments on those treasury bonds
going to stop?
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What would happen if the public stopped
borrowing and going deeper into debt?
00:13:42
Are your house and car payments going to
stop?
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No, there is a payment due
00:13:49
every month on the principal plus the
interest on every dollar in existence
00:13:53
and those payments do not stop.
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If we stop borrowing then no new
currency is created to replace the
00:14:00
currency that we used to make those
payments.
00:14:03
Whether you're making a payment on a
loan or paying tax to make a payment on
00:14:07
a bond,
00:14:07
the portion of the payment that goes to
pay off the principal
00:14:11
extinguishes that portion of the debt.
But the debt also extinguishes the
00:14:15
currency.
00:14:16
Currency and debt are like matter and
anti-matter.
00:14:19
When they meet they annihilate each
other. If we just pay off the principal
00:14:24
only
00:14:25
on all the loans and bonds that exist
the entire currency supply
00:14:28
just vanishes. So if we don't go deeper
into debt every year
00:14:32
look what happens: the whole thing goes
into a deflationary collapse under the
00:14:37
weight of those payments.
00:14:38
Politicians and pundits alike talk about
balancing the budget
00:14:43
paying down the debt and living within
our means. They don't understand that
00:14:47
that is deflationary,
00:14:48
it is impossible to do under our current
monetary system without collapsing the
00:14:53
whole economy.
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This is why any talk of a debt ceiling
is not only ridiculous...
00:14:59
its delusional. The system is designed to
require
00:15:02
ever-increasing levels of debt just to
continue, and that's why politicians will
00:15:07
always
00:15:08
kick the can down the road and raise
this so-called
00:15:12
'debt ceiling' over and over again until
the whole system finally collapses under
00:15:17
its own weight.
00:15:18
In other words, they don't want it to
collapse on their watch.
00:15:22
The founding fathers of the United
States knew the dangers of central
00:15:25
banking and fought to free themselves
from this very thing.
00:15:28
The revolutionary war started out as a
tax revolt,
00:15:32
but now we must pay tax just to have a
monetary system.
00:15:36
Having just suffered through the
hyperinflation of the Continental
00:15:40
Dollar
00:15:40
which was printed into oblivion to
finance the Revolutionary War,
00:15:44
they understood the dangers of fiat
currency and debt based monetary systems.
00:15:49
So to protect future generations from
institutional theft and
00:15:53
out-of-control government they wrote
into the constitution that only gold and
00:15:58
silver can be money,
00:15:59
for the simple fact that you can't print
them. Our current system is not only
00:16:04
unconstitutional,
00:16:06
but it robs us of the liberty and
prosperity
00:16:09
our forefathers fought and died for. We
are all
00:16:13
feeling the effects of ignoring the
Constitution right now.
00:16:17
By forcing more currency into
circulation
00:16:20
our purchasing power is diluted.
Inflation
00:16:23
is a slow and insidious stealth tax
00:16:26
that is simply the result of this in
dept-based monetary system.
00:16:30
This system empowers and benefits those
who create the currency and receive it
00:16:35
first
00:16:35
as they get to spend it into circulation
before it has an effect on the economy.
00:16:39
They're stealing purchasing power from
you and transferring it to the banks and the
00:16:43
government
00:16:44
every hour of every day because of this
false monetary system.
00:16:49
And it's not like the people at the top
don't know this. To quote the Federal Reserve
00:16:53
"The decrease in purchasing power
incurred by the holders of money
00:16:58
due to inflation imparts gains to the
issuers of money."
00:17:02
This is a fraud, it is a pyramid scheme,
it is a Ponzi scheme,
00:17:06
it's a scam and it's a lie. Our entire
monetary system
00:17:11
is nothing but a form of legalized theft.
But here's the biggest con job of them all:
00:17:16
The Federal Reserve is not federal - it
has stockholders.
00:17:20
There is no federal agency that has
stockholders.
00:17:23
What's a stockholder? A stock
represents a percentage of
00:17:27
ownership in a corporation, so the
stockholders
00:17:31
are the owners of that corporation.
Therefore the Federal Reserve is a
00:17:34
private corporation with owners...
00:17:36
and you can see it for yourself if you
go to the Federal Reserve's website
00:17:40
and it will say: "The stockholders
receive an annual dividend of
00:17:45
six-percent." Now we know that the stock
in the Federal Reserve was originally
00:17:49
issued
00:17:49
to the largest banks in the United
States but because of mergers and
00:17:53
acquisitions through the years
00:17:54
you can't actually trace who owns the
stock in the Federal Reserve. That's a
00:17:59
very closely guarded secret. My guess
would be that the owners
00:18:03
are those primary dealers, the banks that
get to make a profit
00:18:06
by selling part of our national debt-
those bonds, to the Federal Reserve
00:18:10
who buys them with a check from nothing!
Then WE pay tax to pay the principal
00:18:16
and the interest on those bonds so that
the Federal Reserve can pay the banks a 6
00:18:20
percent dividend.
00:18:22
Don't be alarmed if you don't quite
comprehend the deception of this system
00:18:26
at first glance. Very few people do. It is
purposely complex.
00:18:30
The economist John Maynard Keynes once
wrote:
00:18:33
"By this means government may secretly
and unobserved
00:18:37
confiscate the wealth of the people and not
one man in a million will detect the
00:18:42
theft."
00:18:43
I believe that presented correctly
00:18:46
anyone can understand the system,
regardless of how complex it is.
00:18:49
So let's do a recap and break it down
even more...
00:18:53
The way this system works is that Step 1:
00:18:57
The government creates glorified I.O.U.s
These bonds increase our national
00:19:02
debt,
00:19:02
and put the public on the hook to pay it
back. Step 2:
00:19:06
I.O.U.s are swapped to create currency. The
Treasury
00:19:10
sells the bonds to the banks. The banks
then turn around and sell our national
00:19:15
debt
00:19:16
at a profit to the Federal Reserve, which
they probably own.
00:19:20
The Federal Reserve then opens its checkbook
that doesn't have a penny in it
00:19:24
and buys those I.O.U.s with I.O.U.s it
writes,
00:19:28
checks on a checking account that has a zero
balance.
00:19:32
Then they give those checks to the
banks and currency just springs into
00:19:36
existence,
00:19:37
and then the whole process repeats. This
results in a build up of bonds at the
00:19:41
Federal Reserve,
00:19:43
and currency at the Treasury...which is
really just a supply of numbers.
00:19:47
The Treasury then deposits the numbers
in the various branches of the
00:19:50
government and we get to Step 3:
00:19:52
The government spends the numbers on
promises,
00:19:56
public works, social programs and war.
00:19:59
Then the government employees,
contractors and soldiers deposit their
00:20:03
pay into the banks
00:20:04
and we get to Step 4: Where the banks
multiply the numbers by magically
00:20:09
inventing more
00:20:10
I.O.U.s through Fractional Reserve
Lending, where they steal a portion of
00:20:14
everyone's deposit and lend it out.
00:20:17
That currency gets redeposited and then
a portion is stolen again,
00:20:21
and the process repeats over and over
magnifying the currency supply
00:20:25
exponentially.
00:20:27
Then we work for some of those numbers
which brings us to Step 5:
00:20:31
Where our numbers are taxed. We pay taxes
to the IRS
00:20:36
who then turns our numbers over to the
Treasury, so the Treasury can pay the
00:20:40
principal plus the interest on bonds
that were purchased by the Federal Reserve
00:20:44
with a check from nothing. Then we get to
Step 6:
00:20:48
The Debt Ceiling Delusion. The system is
designed to require
00:20:52
ever-increasing levels and debt and will
eventually collapse under its own weight
00:20:56
because politicians
00:20:58
always kick the can down the road, they
don't want it to collapse on their watch.
00:21:04
And finally Step 7: The Secret Owners
Take Their Cut.
00:21:08
The world's largest banks own the Federal
Reserve, those banks make a profit
00:21:12
selling our national debt top the Fed,
00:21:15
they make a profit when the Fed pays
them interest on the reserves held at the Fed,
00:21:20
and the Fed pays them a six percent
dividend on their
00:21:23
ownership of the Fed. This system
00:21:26
is fundamentally evil. It funnels wealth
from the working population
00:21:31
to the government and the banking sector.
it is the cause of the artificial booms
00:21:34
and busts of modern economies,
00:21:36
and it causes great disparity of wealth
between the rich and the working class.
00:21:41
AND - it is only possible because we no
longer use real money,
00:21:45
we use currency. But worst of all it is a
form of enslavement.
00:21:50
BOND is the root word of BONDAGE.
Whenever a government issues a bond it
00:21:55
is a promise to make us pay tax in the
future.
00:21:58
Nobody asked you if you wanted to pay
tax today for the prosperity we all
00:22:02
enjoyed in the last century.
00:22:04
Nobody is asking our children if they
want to work hard in the future
00:22:08
to pay for the prosperity we're enjoying
now. George Washington once wrote to
00:22:12
James Madison:
00:22:14
"No generation has the right to contract
debts greater
00:22:18
than can be paid off during the course
of its own existence."
00:22:21
By stealing prosperity from tomorrow so
we can spend it today
00:22:25
we enslave ourselves and future
generations.
00:22:29
Now this all sounds pretty bad but there
is great hope
00:22:32
for YOU are the greatest threat to this
false monetary system.
00:22:36
This system relies on the public being
ignorant of its workings.
00:22:40
Please share this knowledge with
everyone you know because an informed
00:22:43
public
00:22:43
that fully understands the system can
build a better future
00:22:47
for generations to come. And now I leave you
with this quote,
00:22:52
widely attributed to a former Director
of the Bank Of England: "The modern banking system
00:22:56
manufacturers money out of nothing.
00:22:59
The process is perhaps the most
astounding piece of sleight of hand that
00:23:03
was ever invented.
00:23:04
Banking was conceived in iniquity
00:23:07
and born in sin. Bankers own the earth.
Take it away from them,
00:23:11
but leave them the power to create money and
control credit and with the flick of a
00:23:15
pen
00:23:16
they will create enough money to buy it
back again. If you want to continue as
00:23:21
the slaves of bankers
00:23:22
and pay the cost of your own slavery, let
them continue to create money,
00:23:26
and to control credit."
00:23:32
This the Federal Reserve in Washington
DC
00:23:34
it's located on Constitution Street, and
that is just as much a joke as the New
00:23:39
York Fed being located on Liberty Street.
00:23:42
Both of them are unconstitutional both
of them limit our Liberty,
00:23:46
and they transfer wealth away from us
every second of every day
00:23:49
to the Federal Reserve, to the government
and to the banking sector. YOU
00:23:55
are now among the one in a million that can
detect theft of your prosperity...
00:23:59
so the big question is, what can you do
about it?
00:24:03
1: Watch this video until you can
describe
00:24:07
and teach it to others. Those who
understand the system
00:24:10
can make preparations for its unavoidable
collapse
00:24:14
and protect themselves. History shows that those
who don't
00:24:17
will probably wiped out. 2:
00:24:20
Share this video with everyone,
especially those you care about. All it
00:24:25
takes is a mouse click or two
00:24:27
to get this message in front of millions.
00:24:30
Post this video on Facebook, Tweet it,
email it to loved ones.
00:24:34
Please share it wherever you can.
3:
00:24:37
Join the conversation. The current world
monetary system is based on a three
00:24:42
hundred-year-old design
00:24:43
meant to enrich a few at the expense
of the many...
00:24:47
there must be a better way. At
HiddenSecretsOfMoney.com
00:24:51
we've created an open source platform
for the design and development of a new
00:24:55
world monetary system. We're calling on
00:24:58
every economist, every student, every
college,
00:25:01
every bright mind and anyone who cares
to join the discussion.
00:25:05
In educating ourselves and each other we
can prevent the further loss of our
00:25:10
freedoms
00:25:11
and maybe, just maybe win some of them back.
00:25:15
...
00:25:18
...
00:25:27
Stay tuned for Ron Paul...
00:25:31
ÉJim Rickards, and Steve Forbes
00:25:34
Watch more episodes at
HiddenSecretsOfMoney.com
00:26:00
[Ron Paul] I think your Episode 4 is
00:26:02
very beneficial, very helpful, it's gonna
introduce these ideas to a lot of
00:26:07
people, and like I've just been talking about,
00:26:09
we have to change people's minds and the
more they understand it the better,
00:26:13
and I think we're at this point now
where more people in the last
00:26:17
several years..four or five years have
thought about the Fed than they ever have
00:26:21
in the previous ninety five years
00:26:23
so I think I an explanation and diagrams
to show it is very helpful
00:26:29
because quite frankly they're not going
to get it in their grade school they're
00:26:32
not going to get in their high school
00:26:34
they're not going to get it in college
unless they're in a very rare
00:26:38
circumstance to understand
00:26:40
how this works. [Jim Rickards] You know for years
before I got involved in
00:26:44
huh really studying gold and some of the things
I write and talk about today I was a
00:26:49
monetary economist for decades you know
in your video you talk about the primary
00:26:53
dealers
00:26:54
I was chief counsel and chief credit officer
for one the largest primary dealers for ten
00:26:58
years so
00:26:59
I had an inside seat on the Treasury
market and have the privilege of working
00:27:03
with several
00:27:04
former Vice Chairman of the Board of
Governors: Johnson and
00:27:08
David Mullins going back to the 80's and
90's so I'm very immersed in what you're
00:27:12
talking about I thought it was
00:27:13
extremely accurate, extremely clear,
00:27:16
I didn't think you were stretching on any
points it was is really like something
00:27:20
out of a
00:27:20
PhD course except that it was very easy
to understand, I think it's accessible,
00:27:25
I think I think we're seeing a little
bit of a revolution in communications in
00:27:29
the following sense you know as you
point out the Fed was created in 1913
00:27:32
well in 1913 there was no web there
was no YouTube, no Twitter
00:27:37
there was really no one to stand up and
00:27:40
oppose the Fed or call them out if you
will, or really get into a discussion
00:27:43
that everyday Americans could follow.
00:27:45
That's not true now - with social media
and everything else
00:27:49
you can reach out to millions and
tens of millions of people and tell them
00:27:52
what's going onÉI think you've done that,
00:27:53
You've done it successfully I applaud it, I think it's
a great video I
00:27:57
look forward to seeing it again, I know
millions of people will enjoy it.
00:28:01
[Steve Forbes] Well as we know the
00:28:02
Federal Reserve believes it can
create money out of thin air, and
00:28:05
not realize money is supposed to represent
real products and services
00:28:09
and what people don't realize is
when the Fed does that
00:28:14
in effect as Keynes pointed out
it's a form of taxation,
00:28:17
it's a form of confiscation and because
people don't see it
00:28:22
the politicos get away with it, but it
also undermines social trust,
00:28:27
it just is corrosive throughout
society.
00:28:30
We're going to have a lot of turmoil in
the coming years,
00:28:34
but it's going to be the kind of turmoil
that leads to positive things.
00:28:38
So don't despair, get out there and
fight because
00:28:42
the tide is gonna turn. This is going to
be the statists last stand.
00:28:46
[Mike Maloney] Thank you!
00:28:50
[James Anderson] This episode of Mike Maloney's
Hidden Secrets Of Money
00:28:55
was brought to you by GoldSilver.com
and the new Silver Pegasus round. To
00:29:00
learn how to protect your family
00:29:02
and turn the coming economic storms
and opportunity visit:
00:29:05
GoldSilver.com
