27. Conclusions

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Length: {27:52 minutes}

The conclusion of the video emphasizes the enduring influence and control exerted by central banks and large commercial banks, despite changes in individual leadership over the centuries. It argues that focusing on specific families or individuals is less productive than addressing the systemic issues of a corrupt banking system. The narrative underscores that central banks, such as the Bank of England and the Bank of France, have become entrenched over centuries and are now safeguarded by laws, political influence, and media control.

Furthermore, the conclusion criticizes the notion that changes in leadership or the political spectrum (left vs. right ideologies) will resolve the fundamental economic issues caused by the concentration of wealth into fewer hands. It dismisses the political left and right as manipulated by the banking system to ensure their continued influence, regardless of who holds political power.

In essence, the conclusion advocates for monetary reform as the most critical political issue, suggesting that the current debt-based monetary system, controlled primarily by private bankers through mechanisms like fractional reserve banking, perpetuates economic instability and inequality. It proposes a solution akin to issuing debt-free US notes to retire national debt gradually while adjusting reserve requirements to stabilize the money supply and avoid inflation.

“Despite these challenges, there remains hope for reform. Initiatives like those proposed by the Sovereignty movement advocate for issuing debt-free US notes to finance public projects, a concept similar to the successful model of Guernsey in the English Channel. Guernsey’s use of debt-free paper money since 1815 to fund infrastructure projects serves as a testament to the viability of such systems.

However, reform faces significant opposition from international banking entities, which historically resist any challenge to their control over global economies. The fractional reserve banking system, criticized for its role in inflation and economic instability, continues to be a major concern. Advocates for change argue that such reforms are not only necessary but constitutionally authorized, highlighting the role of Congress in managing monetary policy and reforming banking laws.

In the face of potential economic upheaval, some foresee the need for a crisis to spur acceptance of a ‘New World Order,’ a sentiment echoed by figures like David Rockefeller. Yet, proponents of reform stress that delaying action risks irreversible damage to the nation’s economic sovereignty and the erosion of the middle class.

In conclusion, the call to reform the monetary system and challenge the dominance of international bankers remains urgent and contentious. Whether through issuing debt-free money or abolishing fractional reserve banking, proponents argue that the benefits outweigh the risks of maintaining the status quo. The path forward requires courage and steadfastness against entrenched interests, echoing historical warnings and advocating for a more equitable economic future.”

This summary encapsulates the key points and arguments presented in the transcript regarding monetary reform and the challenges posed by the current banking system.

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26. IMF/World Bank

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Length: {11:51 minutes}

The chapter discusses the International Monetary Fund (IMF) and the World Bank, situated across from each other in Washington DC. It raises questions about these organizations’ roles, control, and potential impact on the global economy, including whether they might contribute to a worldwide depression.

It traces the origins of these institutions back to post-World War I, where international bankers proposed a world government to prevent future wars, involving a world central bank, world judiciary, and world executive/legislature. This plan, as outlined by historian Carol Quigley, aimed to establish a system of financial control in private hands, dominating global economies and national politics.

Despite initial resistance, particularly from US Senators like Henry Cabot Lodge, the US eventually became involved in these international financial schemes post-World War II. The Bretton Woods Conference in 1944 saw the establishment of the IMF and World Bank, with US participation, alongside the United Nations.

Key to understanding these institutions is their control structure. The IMF is governed by a Board of Governors representing central banks and treasury departments worldwide, while the World Bank focuses on development lending. Both entities wield significant influence over global finance, similar to how the Federal Reserve controls US monetary policy.

A critical aspect discussed is the issuance of Special Drawing Rights (SDRs) by the IMF, akin to a global fiat currency backed partially by gold. This mechanism allows the IMF to influence global financial liquidity and credit policies, mirroring how the Federal Reserve controls the US money supply.

Furthermore, the video highlights how regulations imposed by the Bank for International Settlements (BIS), another key player, have affected global banks’ capital requirements, thereby impacting credit availability and economic stability across nations. This regulation has led to significant economic downturns in countries with low bank reserves, such as Japan in the late 1980s.

In summary, the IMF, World Bank, and BIS collectively form a global financial control system that mirrors national banking structures but operates on an international scale. Their policies and actions have profound implications for global economies, influencing everything from monetary policy to economic development and stability.

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Length: {13:00 minutes}

The video clip titled “FDR/WWII” discusses several key points related to Franklin D. Roosevelt (FDR), the Great Depression, and World War II:

  1. FDR’s Inaugural Address: Roosevelt initially criticized “money changers” as responsible for the Great Depression. He declared their practices unjust and blamed them for economic woes.
  2. Bank Holiday and Gold Confiscation: Shortly after his inauguration, FDR declared a bank holiday, closing all banks. Later in 1933, he outlawed private ownership of gold bullion and coins, except for rare coins, effectively confiscating gold from citizens. Non-compliance could lead to severe penalties, such as imprisonment and fines.
  3. Creation of Fort Knox Depository: To house the confiscated gold, Roosevelt ordered the construction of a new bullion depository at Fort Knox. In 1937, gold began to be stored there amidst tight security.
  4. Gold Price Manipulation: The official price of gold was set at $35 per ounce in 1935, benefiting foreign sellers who could sell gold back to the government at a profit.
  5. World War II and Economic Impact: The war significantly increased national debt, with massive spending dwarfing that of World War I. This led to economic restructuring and debt increases across many nations involved in the conflict.
  6. Centralization of Economic Power: Post-war, the world was divided into economic camps, with communist economies on one side and capitalist ones on the other, leading to an arms race. This period also marked efforts by central bankers to centralize economic systems globally, aiming towards a “New World Order.”
  7. Fort Knox Gold Controversy: Despite federal law requiring annual audits of the gold at Fort Knox, the Treasury has not conducted reliable audits since Eisenhower’s administration. There are claims and suspicions that much of the gold stored there has been removed over the years, possibly sold off at a lower price before the gold standard was effectively ended by President Nixon.
  8. Gold Market Manipulation: Central banks and the IMF now control a significant portion of the world’s gold supply, allowing them to influence the gold market.

The narrative also suggests a narrative of suspicion and intrigue regarding the handling and fate of America’s gold reserves, implying potential mismanagement or even covert operations involving the gold stored at Fort Knox.

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24. the Great Depression

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Length: {13:58 minutes}

In this segment of “The Money Masters” with Bill Still, the focus is on the period leading up to and including the Great Depression:

  1. Post-World War I Political Agenda: The international bankers sought to control national economies and aimed at consolidating power into a global government, epitomized by the League of Nations proposed at the Paris Peace Conference. Despite efforts, nationalism prevailed, and the League of Nations did not gain U.S. ratification.
  2. The Roaring Twenties: Following World War I, the U.S. experienced unprecedented prosperity under Republican presidents like Warren Harding and Calvin Coolidge. Despite a large post-war debt, economic growth surged, fueled partly by inflows of gold into the country.
  3. Financial Policy and Warning Signs: Federal Reserve policies in the 1920s, including a significant increase in the money supply, led to a booming stock market and economic expansion known as “The Roaring Twenties.” However, this growth was unsustainable, driven by credit and speculation.
  4. The Crash of 1929: In 1929, the Federal Reserve tightened monetary policy, triggering a financial panic. Known as “Black Thursday,” this marked the beginning of the Great Depression. Critics, including Congressman Louis McFadden, accused international bankers and the Federal Reserve of orchestrating the crash to consolidate power and control.
  5. Political and Economic Fallout: The Great Depression caused widespread economic devastation, leading to social and political unrest. It raised significant questions about the influence of international bankers and their role in manipulating financial crises for personal gain.

This segment underscores the role of financial policies and international banking interests in shaping major economic events, highlighting the contentious debate over centralized banking and its consequences on national economies.

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23. World War I

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Length: {7:21 minutes}

Chapter 23 “World War I” discusses the centralization of power and the significant role of financial interests in the war. It highlights how major banking families, such as the Rothschilds, loaned money to various nations involved in the war, including Germany, Britain, and France. JP Morgan, based in America, acted as a key agent in supplying war materials to Britain and France, becoming the largest consumer on Earth during the early months of the war.

The chapter argues that for these financial elites, the political issues driving the war were less significant than the profit potential. It notes that wars generate enormous debts, which are profitable for banks. The text points out England’s long history of war preparations and funding through the Bank of England, emphasizing the continuity of war finance as a means of profit for financial interests.

Additionally, the chapter discusses the broader geopolitical implications, such as the Russian Revolution, which overthrew the Tsar and brought about communism. It suggests that financial support from Western banks, channeled through institutions like the Federal Reserve, played a role in fueling revolutionary movements.

Overall, the chapter paints a picture of World War I as driven not only by political and national interests but also by the financial motivations of powerful banking institutions and individuals seeking to profit from conflict and geopolitical change.

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22. Fed Act of 1913

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Length: {11:37 minutes}

Chapter 22 of “The Creature from Jekyll Island” by G. Edward Griffin provides a critical analysis of the Federal Reserve Act of 1913. The chapter outlines how the Democratic Party, led by Woodrow Wilson, initially opposed the Aldrich Bill, which aimed to establish a central banking system akin to the Federal Reserve. However, after coming into power, Wilson and his administration aligned with powerful Wall Street figures to pass a strikingly similar bill, known as the Glass-Owen Bill.

Despite public denials of similarity, the Glass-Owen Bill mirrored the Aldrich Bill in significant aspects, leading to accusations of deceit and betrayal. The passage of the Federal Reserve Act effectively created a privately controlled central banking system in the United States. Critics, including Congressman Lindbergh, argued that the Federal Reserve would manipulate the economy, controlling credit and causing artificial fluctuations to benefit private interests.

Moreover, the chapter discusses the simultaneous passage of an income tax law, which provided a reliable means for the federal government to repay interest on the increasing national debt created through the Federal Reserve’s issuance of currency. This combination of the Federal Reserve Act and income tax law cemented the influence of private banking interests over the nation’s monetary policy, despite ongoing controversies and legal challenges surrounding these legislative maneuvers.

In essence, Chapter 22 sheds light on the contentious origins and implications of the Federal Reserve Act, illustrating how it established a system of financial control by private interests under the guise of public policy.

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21. Jekyll Island

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Length: {11:45 minutes}

Summary of Chapter 21: Jekyll Island

Return to Central Banking Plans:

  • The early 1900s marked a renewed effort by money changers to establish a new private central bank in America, led by figures like JP Morgan.

Manipulation and Panic:

  • A final economic panic was orchestrated to highlight the need for a central bank, with claims that only such an institution could prevent bank failures.

JP Morgan’s Influence:

  • JP Morgan was a powerful banker, suspected of being an agent for the Rothschilds. He financed major monopolies in oil, railroads, and steel. Despite President Theodore Roosevelt’s supposed antitrust actions, these monopolies remained largely intact.

The 1907 Financial Panic:

  • In 1907, JP Morgan and his associates engineered a stock market crash, causing widespread bank failures and public panic. Morgan publicly offered to support failing banks, using money created out of thin air, which consolidated banking power into fewer hands.

Public Perception and Legislative Push:

  • By 1908, Morgan was seen as a hero for stabilizing the economy. This panic set the stage for calls for banking reform, leading to the eventual creation of the Federal Reserve System in 1913.

Criticism and Skepticism:

  • Some, like Congressman Charles A. Lindbergh Sr., viewed the panic as a deliberate scam to eliminate competition and frighten the public into accepting changes that favored the money trust.

Historical Context:

  • Since the National Bank Act of 1863, a series of economic booms and busts were orchestrated to both exploit the public and justify the need for a centralized banking system.

This chapter outlines the strategic manipulation by powerful bankers to create economic conditions that would lead to the establishment of the Federal Reserve, consolidating financial control into the hands of a few.

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20. J.P. Morgan and the Crash of 1907

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Length: {4:55 minutes}

Bill Still describes how Morgan, a powerful banker, led the charge to create a new private central bank for America during the early 1900s. He suggests that Morgan and his friends engineered a panic in 1907 to focus the nation’s attention on the supposed need for a central bank. The panic led to widespread bank failures, and Morgan stepped in to offer to prop up the faltering economy by supporting failing banks with money he manufactured out of thin air.
Bill Still argues that this was an outrageous proposal that further consolidated banking power into the hands of a few large banks.

Bill Still also mentions that President Theodore Roosevelt allegedly went after Morgan and his friends using the Sherman Antitrust Act, but ultimately did little to interfere with the growing monopolization of American industry by bankers and their surrogates. Bill Still suggests that the creation of the Federal Reserve System was the direct result of the panic of 1907, but that it was really just a scam to fleece the American public and consolidate banking power.

Overall, the text presents a critical view of J.P. Morgan and the banking industry, suggesting that they manipulated the economy and the government to further their own interests and consolidate their power.

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19. Free Silver

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Length: {5:10 minutes}

Summary of Free Silver Movement and William Jennings Bryan

Economic Manipulation by Money Changers

  1. Economic Booms and Busts:
    • The money changers periodically created economic booms followed by depressions to acquire homes and farms cheaply.
  2. 1891 ABA Memo:
    • The American Bankers Association (ABA) planned a depression for September 1, 1894, by refusing to renew loans and foreclosing on properties, aiming to control the American economy and force farmers into tenant status.

Push for Silver Money

  1. Gold Standard Manipulation:
    • Since gold was scarce and easy to manipulate, the money changers controlled the economy, prompting public demand for the legalization of silver money to break this stranglehold.
  2. Crime of 1873:
    • The demonetization of silver in 1873, referred to as the “Crime of ’73,” led to widespread demand for its reinstatement.

William Jennings Bryan’s Campaigns

  1. Presidential Campaign of 1896:
    • William Jennings Bryan, a Democratic senator, ran on the free silver issue. His famous “Crown of Thorns and Cross of Gold” speech at the Democratic National Convention won him the nomination.

  2. Fierce Election Contest:
  3. Subsequent Runs and Influence:
    • Bryan ran for president again in 1900 and 1908, but was unsuccessful. In 1912, he played a key role in securing the Democratic nomination for Woodrow Wilson, who appointed Bryan as Secretary of State.
  4. Resignation and Legacy:
    • Bryan resigned in 1915 over disagreements with Wilson, particularly concerning the sinking of the Lusitania. Although he never became president, his efforts delayed the establishment of a new central bank by the money changers for 17 years.
  5. The 1896 presidential race was fiercely contested. Bryan campaigned vigorously, but the Republican candidate, William McKinley, with strong backing from bankers and industrialists, won by a narrow margin.

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18. The Return of the Gold Standard

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Length: {10:41 minutes}

Summary of the Passage on the Return of the Gold Standard

Post-Lincoln Era Financial Control

  1. Objective of Money Changers:
    • After Lincoln’s assassination, money changers aimed to control America’s money.
    • Despite large silver discoveries and the popularity of greenbacks, European central bankers sought to undermine them.
  2. Legislation Against Greenbacks:
    • In 1866, Congress passed the Contraction Act, reducing greenbacks in circulation.
    • This caused financial hardship and economic instability, leading to the creation of the Federal Reserve in 1913.
  3. Gold Standard and Centralized Banking:
    • Money changers wanted a central bank and currency backed by gold.
    • They created financial panics to push for centralized control and reduced money supply to impoverish Americans, making them less resistant.
  4. Contraction of Money Supply:
    • From 1866 to 1876, America’s money supply drastically reduced, severely impacting per capita money availability and causing economic distress.
  5. Silver Demonetization:
    • Ernest Seyd bribed U.S. congressmen to demonetize silver, leading to the Coinage Act of 1873, which stopped minting silver dollars.
    • This move benefited the Bank of England and further reduced the money supply.
  6. Public and Congressional Reaction:
    • By 1876, with high unemployment and economic distress, there was a push to return to greenbacks or silver money.
    • The 1876 Silver Commission blamed monetary contraction on national bankers, comparing it to the fall of the Roman Empire.
  7. Bankers’ Countermeasures:
    • Despite public outcry, bankers maintained control.
    • The American Bankers Association (ABA) in 1877 encouraged subversion of Congress and the press to oppose greenback currency.
  8. Economic and Political Manipulation:
    • The ABA instructed banks to support media opposing greenbacks and to lobby Congress to protect banking interests.
    • The press and bankers collaborated to sway public opinion and legislation against a return to greenbacks.
  9. Conclusion:
    • The money supply manipulation by national bankers post-Civil War led to economic hardship, centralized banking control, and the establishment of the gold standard.

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