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Money, Banking and the Federal Reserve



Uploaded by: misesmedia
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Thomas Jefferson and Andrew Jackson understood "The Monster". But to most Americans today, Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound money and banking that could end the statism, inflation, and business cycles that the Fed generates.
Dedicated to Murray N. Rothbard, steeped in American history and Austrian economics, and featuring Ron Paul, Joseph Salerno, Hans Hoppe, and Lew Rockwell, this extraordinary new film is the clearest, most compelling explanation ever offered of the Fed, and why curbing it must be our first priority
. Alan Greenspan is not, we're told, happy about this 42-minute blockbuster. Watch it, and you'll understand why. This is economics and history as they are meant to be: fascinating, informative, and motivating. This movie could change America.


Tags for this video: banking Federal fiat freedom Greenspan Liberty Mises money Reserve

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Array ( 1 week ago by j4ck2234)
+
v=syXeEostASM
I am truly sorry ... ( 1 week ago by rseveran)
I am truly sorry that you do not understand economics or banking.
Fractional reserve banking is a banker's license to create money out of nothing. Why any society would give this power to a banking system is incomprehensible to intelligent beings. The USA's service-based economy is a sham. It is a fake economy that could never stand on its own! It requires c
onstant support by foreign nations. Kiss the service-based economy goodbye forever when China pulls the plug on the US Dollar.
Exactly! A ... ( 1 week ago by laufsalot2)
Exactly! A competing gold-backed currency would maintain value, while the US$ (all $50T or so of it) would be worth only the paper it's printed on (above I suggested that US$ be backed by gold, but a competing currency is ok). China (and others) would now only accept gold currency as payment for imports and US gold reserves would drop until US started to export and demand gold in payment. But the US would have to rebuild the real economy in order to export - and that would be *very* hard work.
Oh come on think a ... ( 1 week ago by j4ck2234)
Oh come on think a bit. The dollar would still maintain it's guarantees during the transition time. Competing currencies would achieve dominance over time because the government constantly devalues the paper money - People dont want to get their money stolen from the government if they can actually choose.
The dollars would be spend and the gold currency saved until the dollar is out of circulation. (Or something like that)
rseveran: Suppose I ... ( 1 week ago by laufsalot2)
rseveran: Suppose I become a full-reserve bank with $1000 capital (my money). I can lend $1000 no problem. If you deposit (ie loan me) $1000, and I lend out *any part* of that, then I wouldn't have enough reserves when you reclaim your money. So, I can lend out my money but NOT MY DEPOSITORS' MONEY. If I were a 25% reserve bank, I could lend (create) $3000 backed by my original money plus $750 backed by yours. If these loans are then redeposited with me I make more loans etc. v=PHBtnzxJJ_4
I think if the US ... ( 1 week ago by laufsalot2)
I think if the US gov legalised a hard currency it would amount to a vote of no-confidence in its own $, a declaration of inability to raise $-denominated taxes ("fiat" currency). There would be a *very* quick flight from US$ to other currencies (or metals); foriegners' US$ reserves would collapse in value and nobody and no country would accept US$ anymore. US Treasuries and bonds would suffer too and US interest rates would climb. The transition would be very quick and painful, a la Iceland.
No that is wrong. ... ( 1 week ago by j4ck2234)
No that is wrong. You can lend out your depositors money. That's why banks can give interest in the first place. Fractional Reserve Banking means that the banks make of that deposited 1000 dollars 100000 dollars in credit. (or whatever the rate is)
That is the fraud, not the lending per se.
You shouldn't rely on these weird videos, there is a lot of garbage going around.
With 50% reserve ... ( 1 week ago by laufsalot2)
With 50% reserve banking and $1000 deposits, you keep $500 in reserve and lend $500. When this is redeposited you lend another $250, which is redeposited and you lend another $125 and so on. Result: $2000 deposits backed by $1000 real money (50%) and $1000 loans (you "created" $1000). With 10% reserve banking and $1000 deposits, keep $100 in reserve and lend $900. When that's redeposited lend $810... result: deposits $10000 backed by $1000 reserves (10%) and $9000 loans - you created $9000.
With Full (100%) ... ( 1 week ago by laufsalot2)
With Full (100%) reserve, you cannot lend your deposits - they're 100% fully backed by cash (or other liquid) reserves and NO loans - that's the "Full" in "Full reserve". Really, check out "Full reserve banking" and "Fractional reserve banking" on wikipedia. Fractional reserve banking allows private institutions (the banks!) to create money from nothing and charge interest. Full reserve banking does not permit that.
No you don't get ... ( 1 week ago by j4ck2234)
No you don't get the problem. You are talking about technichal terms. What generates the problems is the money creation through credit expansion. There would still be people allowing banks to loan out their money. (you can do such deals today with your bank) The thing is that the terms are made clear in a contract and the banks are not allowed to expand the credit. What you are talking about are depositary institutions. Those are more storehouses than banks.
The change would ... ( 1 week ago by j4ck2234)
The change would really be that if the banks lend out 100$ they actually have to lend out 100$ and not make em up. Banks have a reasonable right to exist in a free market place, they're finding serious borrowers and they socialize the risk.
What has to be taken away from them is the power to inflate.
There was an ... ( 6 days ago by AngelSuspendedAgain)
There was an assassination attempt on Andrew Jackson. And all 4 US Presidents that have opposed the central banks and favored hard money were assassinated.
Is all this true? ... ( 6 days ago by rogermoore27)
Is all this true? Why have I never learned about this?
executive order ... ( 5 days ago by moviedude111)
executive order 11110
Suppose you deposit ... ( 5 days ago by laufsalot2)
Suppose you deposit $1 in my bank and I lend it to Alice, who pays Bob who deposits it with me. Now, Bob's $1 looks just like yours did, so I lend it to Carl who pays Danny who deposits it with me again, so I lend it out again... and so on. If I do this 100 times, I'd have $100 deposits, $100 loans and NO RESERVE - I'd've "created" $99, and as long as it keeps coming back I just keep on lending that $1, even a million times. Lending money while guaranteeing it to the depositor IS creating money.
Because it wouldn't ... ( 5 days ago by j4ck2234)
Because it wouldn't work if you knew.
No, lending out ... ( 5 days ago by j4ck2234)
No, lending out money that you don't have is creating money. Lending out that 1$ a 100 times with the motive that those 100 people would not clear their deposits at the same time is creating money, not the actual transaction of a dollar. The guarantees certainly had to be adjusted, but why not socialize the use of savings in order to benefit from minimum risk loans?
What you are ... ( 5 days ago by j4ck2234)
What you are describing is not possible on the free market. They're giving a fraudulent guarantee. You cannot guarantee money that you don't have, that would be illegal. But that doesn't mean that on a free market people couldn't socialize the use of their savings to keep them accesable while benefiting from interest.
I think we agree in ... ( 5 days ago by j4ck2234)
I think we agree in the conclusion that todays banks are a big fraud and have nothing to do with market institutions.
+I think we ... ( 5 days ago by j4ck2234)
+I think we disagree with what happens when you abolish fraudulent banking. I guess you believe that average Joe would hoard his gold (or whatever) in his basement or in a depositary institution rather than direct it to the most profitable use. I'm sure rational self interest and free market functions would prevent that. We don't need inflation to counter 'hoarding'.
We should take an ... ( 4 days ago by joseshema)
We should take an example of what the Chinese would do when their own officials are caught taking from the system. The chopping block. There would be so many head rolling (literally) down the hall of congress that we would need to find a landfill for all of the corruption we disposed of.
no let's not copy ... ( 4 days ago by strata1972)
no let's not copy anything the Chinese do. The American thing to do is drag them behind our big american pickup trucks! Seriously, only a attack on the main Federal Reserve building will run them out of this land. Why couldn't the 911 hijackers chose the that building!
because the 9/11 ... ( 2 days ago by stealthpakfa)
because the 9/11 planners were the people that own the federal reserve! u might want to look up the rothschild and rockefeller families! and how 9/11 made them wealthier and gained more control!
Go to "quatloos!" ... ( 1 day ago by HurricaneHeidi)
Go to "quatloos!" and use search words: "money inflation" and you will find the threads in which I support conservative economics, expose the legalized counterfeiting committed by the Fed, and tout Murray N. Rothbard. You can search "legalized counterfeiting" and "Rothbard" on quatloos! too. Seriously... I could use some help standing up against these hostile fools.



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