*promote

Promoting this video and sending it back into the queue for one more try; last queued Monday, January 3rd, 2011 10:18pm PST - promote requested by enoch.

An impressive narrative, but I have two problems with it:

1. Like every other rabble rousing anti-tax propaganda piece, it claims that the Fed prints money. Even if we assume they now mean the simple manipulation of digital transactions, how exactly does that work? How is it possibly backed by the government if it isn't the government "printing" it?

2. Aside from getting really angry and voting for morons who will be completely incapable of making any real change in the government (read: The Tea Party), what exactly are we supposed to do about it?

1. I saw an interview with Bernanke a month or so ago....he was asked this EXACT question. His response - they just log onto a computer, and create new money...digitally create new fungible cash, without actually having ANYTHING physically backing it. It exists in the digital world only. That is then given out to banks, and kept track of. The paper to cover the banks comes later...when they need it (ie....when people are withdrawing).

Transactions are all done digitally in big business, so there is less and less need to print paper, or hold gold to back the funds created....because noone checks it.

The money is literally created out of thin air...and only exists in their networks.

The idea is that the debt created is a promise from the loanee for future productivity...that will in turn create assets that are worth the interest to pay the bank back, and then some on top for a tidy profit.

This all comes unstuck when people A) Realise what the banks are doing, and demand their money (a run on the bank...) or B) The debts dont get repaid because the productivity is not creating enough of a return to service the interest.

Both these scenarios create toxic assets, and you end up with an economy with more visible debt that their is money....and bam, the whole system dies in a heap.

2. Absolutely nothing. Its way too entrenched. You can run for president on a campaign of destroying this institution, but have fun trying to educate enough people about it to back you on your crusade.



...Slavery never died, it was just abstracted by money. Its new name is debt.

Well done. I've known this stuff for a decade. Thank GOD for the internet to spread information.

This needs to be taught to all including kids. Its never too early to learn the truth. With more people learning then more can stand up and crush the machine.

Fact, no president has done their required duty to inspect and report on the gold reserves in Fort Knox in decades.

By law they are required to, but the reality is these European bankers took all the gold. There is no gold left in Fort Knox. Go find the last time a President visited and inspected as required.

What can be done if they are breaking the law? Is there a means of holding them accountable for people who could not afford someone to take them to court?

>> ^joedirt:

Fact, no president has done their required duty to inspect and report on the gold reserves in Fort Knox in decades.
By law they are required to, but the reality is these European bankers took all the gold. There is no gold left in Fort Knox. Go find the last time a President visited and inspected as required.

lost me at the Rothschild bullshit.

*quality

Boosting this quality contribution up in the Hot Listing - declared quality by geo321.

Wow, this is pretty long for a Goldline commercial.

Do you really think people from the banking industry took out JFK? I mean it's feasible but grotesque. Anyway, I kind of shy away from this topic because the reality is - if you want to change America you'd have to be pretty fascist in how you go about taking out that shitty, greedy, evil, fucked up 1%. But, just remember who owns the military. One of these days I'll get around to moving to another country and leaving this one to the shitards.

@sepatown Yeah that Red Shield stuff bothered me too. The idea that the Rothschild dynasty controls all the banks is pretty ludicrous. However, if you think of it symbolically, they are all using profiteering tactics that the Rothschilds came up with. So it kinda works. I think it would be better if all the Red Shields were different bank symbols, though.

@shagen454 Good luck finding a country that doesn't have this exact same problem.

Go ahead and tell me what I can't do siftbot, but *dead.

Invocations (dead) cannot be called by Truckchase because Truckchase is not privileged - sorry.

Thank you for catching this. Fixed!

>> ^Truckchase:

Go ahead and tell me what I can't do siftbot, but dead.

A video that offers more information towards an answer to your 1st question is on the sift: http://videosift.com/video/What-is-money

>> ^MaxWilder:

An impressive narrative, but I have two problems with it:
1. Like every other rabble rousing anti-tax propaganda piece, it claims that the Fed prints money. Even if we assume they now mean the simple manipulation of digital transactions, how exactly does that work? How is it possibly backed by the government if it isn't the government "printing" it?
2. Aside from getting really angry and voting for morons who will be completely incapable of making any real change in the government (read: The Tea Party), what exactly are we supposed to do about it?

Hmmm... I am familiar with the concept of fractional reserve banking and money as debt, but not how that works in the context of the Fed. As people have been saying quite a lot recently, The Federal Reserve Bank is not federal, it has no reserves, and it is not a bank.

The system is so different from what I am used to in my daily life that it is almost impossible to wrap my brain around it enough to understand all the implications. But I'm pretty sure that the outcry of "they're just printing money!" is quite pointless and merely a demonstration of ignorance.

*promote, despite the silly Rothschild bits.

Invocations (promote) cannot be called by Bradaphraser because Bradaphraser is not privileged - sorry.

I see... could I at least have an apple?

To the people bothered by the rothschild references (@Bradaphraser, @sepatown), who would you put behind the creation of this whole thing then?