The Federal Reserve in a Single Sentence (HOM 31-A)
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- čas přidán 15. 11. 2020
- History of Money, Lecture 31, Pt. A: what is the Federal Reserve System? We'll detail its structure, organization, and general monetary policy in the upcoming lecture, but for now I will offer a single sentence description.
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Dr. Jonathan Barth received his PhD in history from George Mason University in 2014. He specializes in the history of money and banking in the early modern period, with corollary interests in early modern politics, empire, culture, and ideas. Barth is Associate Professor of History at Arizona State University and Associate Director of the Center for American Institutions at Arizona State University.
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Great one-sentence answer. I can answer it with ONE word: UNCONSTITUTIONAL!
Yeah man ! You hit the nail squarely on the head. We the people have been acting like a flock of sheep way too long. Obey is all that we the people understand anymore.....cannot think for themselves, heavily indoctrinated .....on and on etc......... very sad. Peace and blessings
In one sentence...The Federal Reserve is the greatest ponzi scheme of all time.
Complexity is a great way to hide a scam.
Your challenge at the 30 second mark: Describe the Federal Reserve in a single sentence. Since I have studied this act from before you were born, I can do it in 1 word. The new-view description of the Fed in 1 word is: transducer.
All Central bank corporations have been set up as transducers. A transducer is a machine that transforms one type of energy into another. An example is a microphone which takes air vibrations from the announcer’s voice and transforms it to electrical energy.
The Jekyll Island Banker’s transducer is hidden within the concept called borrowing the National Debt. The key point to appreciate is that the thing that is “loaned'' by central banks is different from the thing that is “collected” as repayment from borrowers. The difference is the transduction.
In the original version, the Bank of England Corporation loaned a Liability-Side-Credit (deposit) that increased the king and queens account balance. The transduction is the king and queen paid back their loan with the gold collected as taxes from its citizens.
The great thing for the Bank of England Corporation is they loaned an entry on an accounting paper and were then paid back with gold. I call this transduction the Paper Money for Gold Franchise. Bankers put paper in one end of a loan, and gold came out the other end.
Today, The 5 Fed Banks that filed a Comptroller of Currency Certificate of Organization (not the 12 co-op banks) buys Treasury Bonds with Fed Funds but is paid back with Demand Deposits. You probably don’t get this because universities don’t concentrate on the classifications of different fiat money authorizations. The point being that although Fed funds are Lawful Money because they originated as Clearing-House Certificates in the 1864 National Currency Act, they are only Lawful Money while on deposit in a Reserve Bank. The fact is Fed funds aren’t authorized to function as Legal Tender. The point is that citizens pay back the Treasury Bond with Demand Deposits, which are Legal Tender. Then the 5 Fed Banks (that filed a Comptroller of Currency Certificate of Organization) can exchange the Legal Tender for anything for sale in the US.
In review; the Fed Banker’s transduce a Liability-Side-Credit in the Fed funds book into a Liability-Side-Credit in the Demand Deposits book. Consider this a type of money laundering. That's one of the tricks the Jekyll Island Banker’s built into the 1913 Fed Act text.
The money laundering aspect is why my one word description of the Fed is: Transducer.
Thanks for your explanation. Another one word definition: Scam.
Nice analysis. I like the concept of transducer. Combining that with @Molly Gardens below, I would say that what the Fed does (as with all money-schemes) is transforms our lives into a abstraction that it then transfers to a very small minority. A conduit, perhaps, that transfers our lives into their opulence and excess wealth.
I summed it up in 1 word as well... Bullshit.
Exactly so that's why it's against public policy to demand payment in a particular form of coin or currency. Money of exchange is not necessary to settle money of account obligations. It is also unlawful to have foreign private negotiable instrument law to dictate public policy. It is considered a form of treason without remedy, which is built into the jargon of the Federal Reserve Act if you can decipher the language. It seems like a great system, and noone should be poor if you know how to function in banking minus all the propaganda. Banks have power to borrow money and pay interest. So who is really the creditor in these transactions???? It's a tricky game
@@phaedrussmith1949 i love that description, opulence! this is a good word to describe it.
Surprise surprise! They never taught me this in school.
The monetary system shapes our political institutions and decision-making processes.
I appreciate your work.
Like this guy's videos people, good research well presented
Thanks for watching
Federal Reserve priorities cater to Bankers, Wall Street, Insurance Companies, Corporations and............................................................ then average Americans. In that order. I was going to use more leader dots but thought it might run off the screen. Just my opinion if it matters.
You are tops at getting to the bottom of things, comments helping too, and powerful tool use it to help education and find the solution OK
I think there is an easy answer to the question of whether the Fed operates as a syndicate or a cartel- are its balance sheets transparent and open to the public? If not, even if it were not created as a cartel, human nature and the protection of secrecy would ensure that it become one.
The Queen of Sheba will unlock the secrets of the Fed.
Uh, oh. I am very new to this kind of thing. I just looked through all of the Human Design charts (family and friends) that I recently entered into the Human Design App. and it appears that I am the only one out of us having the #15 filled. It is colored all the way to the block beneath it. Scary. This is making me dizzy. Lol. Thank you for your videos. They are helpful for learning about this system.
Whose $$ funded the formation of the Federal Reserve Bank? How are they paid back?
the peasants, as always lol
A group of federal banks assigned to keep liquidity in the system.
CARTEL, because these banks are corporations whose obligation is to produce profit for its investors. There is a conflict of interest if serving the public interests threatens the profits of the shareholders.
Cartel.
Bingo, every War they had their fingers in.
Ponzi
Kharzarian purple mafia cartel..
3:36
I can get it down to three words: Louis Dembitz Brandeis.
So, what’s the difference between this cartel and King George (British government)?
Cartell cabal kabala
Two words " corrupt ponzi" we the people need to abolish F.R. congress has the power.
New York
definitely a cartel..a financial/monetary mafia
The purple gang
Sym bols
Im a bit dumb so I'll just go in alphabetical order.
Oh I could give you a much, much better sentence than that.
A serial, bubble blowing scam