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Who Controls All of Our Money?

ColdFusion・19 minutes read

The video explores the history and impact of central banking systems, revealing how money is created, controlled, and the consequences of a debt-based monetary system. It highlights the influence of central banks on the economy, the continuous debt growth required in the current monetary system, and calls for government-issued money for the people's benefit.

Insights

  • The banking system, as highlighted by Henry Ford, operates in a complex manner that is often not fully understood by the general public, potentially leading to unrest if its workings were more transparent.
  • The creation and control of money by central banks, as detailed through historical events like the establishment of the Federal Reserve System, reveal a debt-based monetary system that impacts inflation, currency devaluation, and economic stability, emphasizing the need for public awareness and potential reforms.

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Recent questions

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  • How was the Federal Reserve System created in the United States?

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  • What are the consequences of the debt-based monetary system?

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Summary

00:00

"Unveiling the Secrets of Central Banking"

  • Henry Ford once expressed concern about the lack of understanding regarding the banking system, hinting at potential unrest if people were aware of its workings.
  • The video delves into the financial world after four years of exploration, aiming to share insights with viewers and prepare them for future content on cryptocurrencies like Bitcoin.
  • The question of who controls money is raised, highlighting that individuals, employees, and their companies do not hold this control.
  • Money does not originate from the government, a fact often overlooked in educational systems.
  • The establishment of the first modern central banking system in 1694 in England, following 50 years of war, is detailed.
  • The creation of the Federal Reserve System in the United States in 1910, through a secretive meeting on Jekyll Island, is exposed.
  • The Federal Reserve Act was passed in 1913, granting a small group the power to create money from nothing and loan it to the government with interest.
  • The global impact of central banking systems, the US dollar as the world's reserve currency, and the shift to fiat currency after the gold standard was abandoned in 1971 are explained.
  • The process by which the Federal Reserve creates money out of thin air, and commercial banks create money through loans, is outlined.
  • The consequences of this system, including inflation and the devaluation of currency over time, are highlighted, emphasizing the perpetual rise in prices and the burden on future generations.

14:43

Debt-based system controlled by central banks

  • Central banks and commercial banks create money through loans, which results in debt being considered as money in the system.
  • The current monetary system is debt-based, requiring constant debt growth to maintain the money supply.
  • Central banks, like the Federal Reserve, control the economy by adjusting money supply and interest rates, leading to economic booms and busts.
  • Examples like the 2008 housing bubble and Japan's central bank buying stocks showcase the impact of central banks on the economy.
  • Historical figures like James Garfield and Abraham Lincoln have expressed concerns about the control of money by a few powerful entities, advocating for government-issued money for the benefit of the people.
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