Time to End the Fed? The Origin of Central Banking and Possible Alternatives

[somercet1]

Damn it, the history of American banking is amazing and complex. It needs a long series devoted to it.

[asleeperj]

Don't end the fed they are doing such a great job enabling the federal government to spend money.

We bring back competitive banking. Let the treasury print bills, and the mint to print real substance. When the paper money gets out the hand, people turn to coin. For instance, do you want a dollar bill, or a pure stuck copper penny.

Copper penny is worth more than three times that of a paper dollar.

[cleanmrbroadway]

What this guy fails to say and he should of said it early. The fed overides the constitution and is not american. That should be said first to be a believable video.

[oldereb38]

The Fed handled $8.4 TRILLION from the auctions of the Treasury securities and hid the money from Congress. The law, Title 12, section 247, requires the Fed to make a “full report” to congress. Hiding that profit from Congress sounds like embezzlement. Ref. 3w scribd dot com message 49040689

[Francescaalejandro]

government do not debase the currency.......private banks do using the FRACTIONAL RESERVE SCHEME.

[MegaRichie10]

I always said that the FED will collapse under it own power.absolute power corrupts absolutely

[Prospiritydotcom]

While ending the Fed is a must and Ron Paul is the politician that lives the least in denial, it would be a grave mistake to go back to the Gold standard. It completely fails to understand what is the true source of credit in the system. It's "us". 2 major problems with gold 1) It's limited 2) And still CONTROL by the same people u want to get away from. Those advocating gold simply do out of habit thinking it is the only alternative.

[tutorturtle]

JFK was murdered for trying to End The Fed. See Executive order 1111. President Wilson (then Senator Wilson) was bought-off with the presidency in return for sneaking the FED act through congress during the 1912 christmas recess. It's been a vast criminal enterprise, keeping us in economic servitude, ever since .

[vspqbd]

Dan, I never thought I'd see the day where you actually took a hard Austrian School stance on monetary policy.

[nvitagliano]

It's time to put an end to the Fed.

[cmdtrk1]

these bankers and fed reserve lowlifes, as well as wall street thieves, government and corporate sector all believe they will get away with this and retire on the trillions of dollars they have stolen and live the lives of kings.

But i'm afraid to say, these evil bunch of lowlife criminal thieving scum will 1 day face their wrath for the crimes they have committed.. Karma..

The World Is Awake To these Guys..

[cmdtrk1]

Fed Reserve cronies are all Thieves and Common Scum. Bums in another life.

Don't bank money, Dont use banks. take your money out

Money u earn belongs to u, not scumbag bankers & corporate Scum. The American System is Corrupt to the point The Government and Corporations work together to steal billions from Americans incomes and life savings. Wake up to the fact. A Corrupt Government , Corporations and a thieving banking sector caused all this mess, 1 day the thieves will pay 4 their crimes.

[crystalmethod1000]

Let people use whatever money they want to use as long as they both agree to use it as a median of exchange.

[yougiberishtube]

thumbs up

[Truthpolice9698]

I use to admire Friedman and to a lesser extent Greenspan. I still admire Friedman but despise Greenspan and now I am one of the loons calling for a end to the Fed. I never thought I would be a gold/silver guy.

[abe2517]

Check out GARY NORTH and his academic paper "Honest Money" for a biblical perspective on monetary policy that BOTH conservatives and libertarians can get behind!!

[woodsman513]

Federal Reserve sucks

[jrmyster]

If you enjoyed this video, please search Zeitgeist Moving Forward.

[goldhedge]

Why does the vid stop at 2:45 into it?

[Prometheusforliberty]

So good. I'm looking forward to the follow ups!

[sueBADcops]

Audit, End, And then Stiff The Fed (red shield) ... Pretend money means Pretend Debt.

[a4finger]

awesome video, End the Fed! It is quite possibly the worst thing ever created!

Ron Paul for President 2012!

[NicosMind]

Isnt free banking in Scotland a myth? Theres an apendix to it in Murry Rothbard's The Mystery of banking

[tonidepoli]

No, it isn't a "myth": Larry White decisively answered Rothbard, as well as some other critics of the Scottish example, in the 2nd and current edition of his Free Banking in Britain. If you want myth, try 100-percent reserve banking, which has never been practiced to any important extent anywhere, even though there's never been a law against it. Even the Bank of Amsterdam, which started with 100-percent reserves, departed from them eventually.

[NicosMind]

@tonidepoli Hey no need to be so rude. If you read Rothbard's Mystery of Banking with the appendix you can see hes aiming for honesty. Ive never read any rebuttle hence my honest question. I wasnt implying that it was all fake but asking more questions about it.

And no one has ever implied that 100% reserve banking has existed for any time. And it did exist briefly in Amsterdam youre right. However if youve listen to Mervin King at buttonwood hes wanting to get rid of fractional reserve!

[tonidepoli]

@NicosMind Sorry--hadn't intended to sound rude, though I did assume that you were writing as a 100-percent money fan. In fact references to the "myth" of free banking in Scotland commonly come from Rothbard's followers (not Mervyn King fans!) who seem to think that, if they can show that Scotland didn't really have free (fractional reserve) banking, that would deal a fatal blow to the idea. Hence my observation that the 100-percent reserve alternative is what really lacks empirical support.

[NicosMind]

@tonidepoli Well im not a Mervin King fan, but am a Rothbard fan. If Rothbard fans are coming off that you cant have a fractional reserve free banking system because of his appendix then they are mis-interpreting Rothbard and other Austrians. In fact the good Austrians constantly repeat that although the old system wasnt perfect that it was better becasue of competition and the need not to over-stretch oneself for fear of a run.

Im against FR because it is a transfer of wealth and dishonest

[Buffalo122333]

Answer 4: all of the above

Prevent the fed from printing up new money

Get the states and local governments to issue gold and silver backed money

Allow not just banks but any business to issue their own currencies and compete.

With computers at every checkout now-a-days exchange rates would be effortless.

[7thPillar]

The following is a quote from a US attorney after the conviction of Bernard von NotHaus, for coining alternative currency this week.

‎"Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,” U.S. Attorney Tompkins said."

I guess that makes the Federal Reserve Board a terrorist organization.

[7thPillar]

The following is a quote from a US attorney after the conviction of Bernard von NotHaus, for coining alternative currency this week.

‎"Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,” U.S. Attorney Tompkins said."

I guess that makes the Federal Reserve Board a terrorist organization.

[sniper6081]

Number 2 would be my choice.

[ronpaulfan1]

END THE FED!

[MrSethAction]

Check out the videos on my channel calling senators office's about the FED. look at how the answer my questions! End The Fed!

[wiredcoder]

I agree -- End The Fed, but what you are calling "Free Banking" is clever way to trick the majority into giving our economy to unregulated banks.

[joepeeler34]

Freidman was right for the wrong reasons. He thought that the Fed didn't create enough new money during the Depression. The Fed created the stock market bubble in the 20's with easy money which resulted in an eventual bust. It was the government's interventionist response that caused the depression to last for over a decade instead of a year or two as with the Depression of 1921. The response to that burst credit bubble was correct, and it was over in 18 months. See Depression of 1921 on YouTube

[eliyahugoodman1]

very nice video,

The Torah which was given in 1313 BCE. testifies to the donation of half shekel coins. this indicates the minted coins began before then. 600 years before 700 BCE

[yakyakyak69]

The Fed corrupts crony politicians with power to borrow, debase & spend to buy “support” from Special Interest Groups, Unions, “Too Big to Fail” Corporations, the Military-Industrial Complex & Wall Street cartel.

Central Banking w/Fiat Debt-Currency & Fractional Reserve Banking gave birth to histories most evil political trends via central economic planning despotism.

Central Banking = Corrupt Political Cronyism

Watch: “Money As Debt Full HQ Video” here on YouTube

End The Fed!

[Yakko77]

Ending the Fed is about the main thing I agree with Ron Paul on. Not too keen on some of his other policies, especially foreign (or lack of) policy unless you consider isolationism a foreign policy but regarding the Fed, Ron Paul gets it.

[voogru]

Whatever the standard, fractional reserve banking must absolutely be outlawed and treated the same as counterfeiting.

[petiemac24]

END THE FED AND THE DEVALUATION OF THE DOLLAR WILL END....RON PAUL FOR PRESIDENT 2012

[Kry8ter]

When/How often will this update?

[PestControl02]

End

The

Fed

[MikeZourdos]

"Gold is money, and money retains its value. The problem is what everybody is using that they think is money, dollars, doesn't retain its value because Ben Bernanke is printing it like crazy." --Peter Schiff

Ron Paul 2012

[H1TMANactual]

@MikeZourdos Not really. Anything and everything including gold and dollar has only the value that the market gives it. Gold could loose value just as easily

[MikeZourdos]

@H1TMANactual, That's a good point, and I agree with you. The market always determines and should determine value. I believe Mr. Schiff's point is that gold has intrinsic value so if competition is legalized gold will always retain value over a paper currency. A piece of paper that you can print won't be selected by the market over something with intrinsic value. This is a good discussion, thanks for writing.

[H1TMANactual]

@MikeZourdos You're welcome. I would also like to point out that metals change value over time. It was silver before gold, and now it's diamond. Gold could be used as a currency as most have been mined. But the problem with that is the risk of hoarding, and could create a shortage of currency. Diamonds for example maintain their high value due to hoarding.

The question of currency is a not that simple I am afraid. But I would definitely like to put a check on Fed inflating the dollar though

[MikeZourdos]

@H1TMANactual, I very much agree with your last sentence, and excellent point about diamonds. Obviously we couldn't end the fed abruptly, but competing currencies would certainly end it softly as the market would choose something with intrinsic value over a piece of paper. As Dr. Paul says we should at least "legalize the Constitution" to make gold and silver legal tender. It's amazing we have fallen so far away from what the constitution stipulates.

[H1TMANactual]

@MikeZourdos You should check out Judge Napolitano if you haven't already. He gives great speeches on the constitution

[MikeZourdos]

@H1TMANactual, Absolutely. Freedom Watch is a great show, I'm also a big Jon Stossel fan, and Larry Kudlow (on good days). Take care.

[H1TMANactual]

@MikeZourdos Haha on a good day, truly. Yeah he is a flip flopper, he did support the bail out. Take care man

[7beers]

@MikeZourdos Peter Schiff is a god.

[philliproemer21]

So, technically, federal reserve notes aren't money because they meet the third monetary criteria of being a store of value.