Greenspan states that the Fed is above the law shortly after 7:30 in the interview
Churches, modern
banks and associated political
institutions are based largely on perception, and deception. In order
to work, they have to convince you that they are doing you a favor, bringing
value to the transaction in exchange for getting you
to relinquish real labor value to their custody.
In order to make the scam
complete, they must make the bank/church, its employees,
its building, its presentation - all look authoritative and legitimate. The bank
building, like a church or government
building, is large with pillars and official looking facades - conveying strength, stability and legitimacy.
Usually there's some
picture of an old guy or several guys with a big beard and royal/high
class clothing to make you feel like someone important is here. The altar/safe is placed in clear view
of the public to add to the deception. This is so when you enter the bank,
church etc, you feel a sense of safety, reverence and awe.
The entire
presentation is a scam or a confidence game of
the highest order. The whole objective is to rob you of your earned value,
and make you an obedient, pliable, reliable, submissive and easily
managed peasant.
The
big inside joke is that the only money the bank/church really has is the money
you are depositing in it plus the money they collected as fractional reserves to get
the banking/churching license in the first instance.
In
principle, as should be self-evident by now, money should be
intrinsically worthless, and only used as a means of exchange for things of
similar value. It should not be permitted for banks to create money,
unless they are carefully regulated (nature, type of loans and interest
rates) and/or the bank is in the public interest (usually with a public
bank, a nationally chartered bank), and has a measurable multiplier effect on
the economy.
The multiplier effect should be in the expansion of goods and
services which make society more productive. Like schools which
educate children (creating human capital), bridges, canals and roads
which expand trade, new technologies to exploit
natural resources, dams and power plants (which actually produce energy
to electrify towns and cities at an affordable price).
In this
regard, Alexander Hamilton insisted that credit for such products are
essential to a national economy (states included) and that debt for such
purpose can be a national blessing because it can be basis for
facilitating trade and national development. The notes were usually for
20 years at 5 percent. As such the price or interest rate should be
minimal and long term, providing a stable bill of exchange which could
be used for commercial transactions.
This later became known as dollar bills and dollar notes. This is where the whole concept of the dollar bill came from. The notes were tied to productive legitimate investments so people were comfortable using these as a medium of exchange. In fact, such bills of exchange were more desirable than gold and silver (or private bank notes)
So federalized (national) paper bills of exchange and other such instruments were favored by small and medium size businesses since they knew they these notes where for productive, useful activity for the commonwealth. This is how the Erie and Ohio Canals were built. This is the great innovation of Alexander Hamilton, Benjamin Franklin and John Quincy Adams that freed the general populace from reliance on England, Spain, the Netherlands, and France for gold specie in order to promote business and the economy.
It was the power of the sovereign to create money in the public interest and use such dollar bills as currency directly tied to the productive capacity of the nation. Gold, and silver, if necessary, was used for payment of international trade, with countries who did not at that time accept dollars bills as mediums of exchange.
Gold and silver (or other precious metals) were preferred by kings and other sovereigns because the quantity was usually in the hands of the powerful and wealthy, and therefore could give them power over the general population. Bonds or paper represented how much gold you had on reserve, not anything of real value or use to the general population. It served the royalty, bankers and aristocrats, not the peasantry and small businessmen.
Under the old European system (represented by feudal lords, kings, bankers, etc), in order to get credit you had to have gold, silver, and issue bond, paper notes promising to pay the same in gold, silver, etc). This severely restricted trade and made it difficult for the common man. His economic destiny depended on whether he could convince some banker, or agent of the king to part with his gold or lend against his gold for some purpose. In this way, power over the peasantry was maintained.
Since peasants didn't have gold, they usually had to pledge their land, and anything they had, sometimes even their wives and children, as collateral. Taxes became oppressive and cruel. The church merely enforced the same system under penalty of eternal damnation, etc. As a result, people began to leave Europe in search of religious, political and economic freedom. Most royalty and bankers were happy to see some peasants go as long as they continued to pay their taxes.
This later became known as dollar bills and dollar notes. This is where the whole concept of the dollar bill came from. The notes were tied to productive legitimate investments so people were comfortable using these as a medium of exchange. In fact, such bills of exchange were more desirable than gold and silver (or private bank notes)
So federalized (national) paper bills of exchange and other such instruments were favored by small and medium size businesses since they knew they these notes where for productive, useful activity for the commonwealth. This is how the Erie and Ohio Canals were built. This is the great innovation of Alexander Hamilton, Benjamin Franklin and John Quincy Adams that freed the general populace from reliance on England, Spain, the Netherlands, and France for gold specie in order to promote business and the economy.
It was the power of the sovereign to create money in the public interest and use such dollar bills as currency directly tied to the productive capacity of the nation. Gold, and silver, if necessary, was used for payment of international trade, with countries who did not at that time accept dollars bills as mediums of exchange.
Gold and silver (or other precious metals) were preferred by kings and other sovereigns because the quantity was usually in the hands of the powerful and wealthy, and therefore could give them power over the general population. Bonds or paper represented how much gold you had on reserve, not anything of real value or use to the general population. It served the royalty, bankers and aristocrats, not the peasantry and small businessmen.
Under the old European system (represented by feudal lords, kings, bankers, etc), in order to get credit you had to have gold, silver, and issue bond, paper notes promising to pay the same in gold, silver, etc). This severely restricted trade and made it difficult for the common man. His economic destiny depended on whether he could convince some banker, or agent of the king to part with his gold or lend against his gold for some purpose. In this way, power over the peasantry was maintained.
Since peasants didn't have gold, they usually had to pledge their land, and anything they had, sometimes even their wives and children, as collateral. Taxes became oppressive and cruel. The church merely enforced the same system under penalty of eternal damnation, etc. As a result, people began to leave Europe in search of religious, political and economic freedom. Most royalty and bankers were happy to see some peasants go as long as they continued to pay their taxes.
When
Americans didn't have any gold or precious metals (under the old
system), in the early days before it was discovered in the Southwest, it
forced the early settlers to innovate and create a new medium
which served the public interest. Benjamin Franklin was one of the
first do this in Massachusetts and later in Pennsylvania. Later
Hamilton, after the revolution, out of necessity and invention, expanded
this concept on national level for the American States. This type of
national economic independence (from Royalty and their bankers), coupled
with political independence (from Royalty and their bankers), and
religious freedom (from Royalty and their Church), created a potential
for enormous power and influence.
You can easily see the threat the American System presented to the British crown. Before that time, all taxes had to be paid in gold, silver and other coins, determined and controlled by the king, and credit was not easily available for the commonwealth. All religion and worship was to the official church. It was a syndicate. That's why traditional gold has always been a bad medium of exchange for the general population and has always wound up increasing the concentration of private and/or aristocratic wealth.
In fact, there was no common-wealth concept. There was the king and his subjects. You were not citizens with rights under law than any aristocrat was bound to acknowledge. You were peasants. The American Revolution was a radical departure from this notion. It threatened every Monarchy and Empire on the globe, except those who allied with it and adopted some of its principles, as did Germany (protective tariffs, technological innovation, and a credit system) as a way to free itself from the same destructive economic policies.
You can easily see the threat the American System presented to the British crown. Before that time, all taxes had to be paid in gold, silver and other coins, determined and controlled by the king, and credit was not easily available for the commonwealth. All religion and worship was to the official church. It was a syndicate. That's why traditional gold has always been a bad medium of exchange for the general population and has always wound up increasing the concentration of private and/or aristocratic wealth.
In fact, there was no common-wealth concept. There was the king and his subjects. You were not citizens with rights under law than any aristocrat was bound to acknowledge. You were peasants. The American Revolution was a radical departure from this notion. It threatened every Monarchy and Empire on the globe, except those who allied with it and adopted some of its principles, as did Germany (protective tariffs, technological innovation, and a credit system) as a way to free itself from the same destructive economic policies.
The
key features of the American Revolution, the real one, not the fake
one, was political, religious, and economic independence. That is why,
despite all its problems and failures, it remains the number one threat
to the psychopathocracy and must be destroyed. It cannot be allowed to complete and further
its original vision.
That is why the history of the American Revolution has been systematically redacted, and distorted, and replaced with a false narrative that distorts their forgotten original meaning. For example, Free Trade (means Austrian/London School financial capitalism with no barriers), Debt or Sound Money (Interest based or Gold based), Individual Liberty (Ayn Rand selfishness irrespective of morality and impact on others), Property Rights (Ayn Rand type (discrimination, human slavery, etc.)), Limited Government (no equal protection under the law, Confederacy/State's Rights and American Exceptionalism (Imperialism/Manifest Destiny, etc).
That is why the history of the American Revolution has been systematically redacted, and distorted, and replaced with a false narrative that distorts their forgotten original meaning. For example, Free Trade (means Austrian/London School financial capitalism with no barriers), Debt or Sound Money (Interest based or Gold based), Individual Liberty (Ayn Rand selfishness irrespective of morality and impact on others), Property Rights (Ayn Rand type (discrimination, human slavery, etc.)), Limited Government (no equal protection under the law, Confederacy/State's Rights and American Exceptionalism (Imperialism/Manifest Destiny, etc).
