Creature from Jekyll Island 5 of 12

[nillesu]

leonski35, Change it to gold and you give even more power to the "money changers" (the private owners of the superbanks) since they have, since the 20's aquired 2/3rds of the worlds gold.

[jimmyrtle]

@wishmolly "When you or I write a check there must be sufficient funds in out account to cover the check"

When a bank makes a loan, there must be sufficient funds in deposits to cover the check.

[jimmyrtle]

@wishmolly "That 90% is created out of NOWHERE"

You are mistaken. It's created from deposits.

[jimmyrtle]

@wishmolly "The modern Banking system manufactures money out of nothing"

Incorrect. The banking system creates money by loaning out a portion of deposits.

[vanfanel150]

@jimmyrtle debt = money?

[jimmyrtle]

@vanfanel150 Sometimes.

[LanceThorpe]

Yes, in fact we should return to the gold standard, but however, if you do that in the value of gold would be valued over 2 million dollars now; when it use to be previously valued at $35.

[jimmyrtle]

Banks don't loan money made from nothing, you silly git.

[chrispyt77]

@jimmyrtle

I think you missed the whole point of this lecture.

[jimmyrtle]

@chrispyt77 The point was for Mr Griffin to sell his book.

It's too bad he does it with misinformation.

[chrispyt77]

@jimmyrtle

Ed Griffin quotes the people who created the FED - that there was a very secret meeting of super rich bankers and industrialists in 1910, that these people represented a quarter of the worlds' wealth at the time, and they created the Federal Reserve. It's not misinformation, it's sourced and quoted from their autobiographies and yournal articles they gave 20 years after the fact.

[jimmyrtle]

@chrispyt77 Do you think that banks loan money made from nothing?

Do you think that banks don't make loans from their deposits?

[tishapossimus]

alert! gold for dollars ads! no more gold. no more dollar value

[9samten]

Excellent speaker. He really makes one understand this horrible scam.

[joshtj44]

They lied to us. They told us they are here for our benefit. I guess the rich own the poor. The rich man cares nothing about the homeless man sleeping outside his mansion. This lust for money is the downfall of our nation.

[FranthonyZarcoza]

People like shiny things. That's why gold has value.

[wolfgange63]

@FranthonyZarcoza Gold has value cause it use far exceeds the means of jewelry. Do some research on the uses of gold and you will see.

[FranthonyZarcoza]

Going back to the gold/silver standard isn't going to be easy seeing as how most of THOSE resources are owned by people with money. The more the money, the more resources, an unlimited supply of money can purchase all gold/silver. I can take a guess as to who has that.

[Angie4OneGod]

WOW...we knew all this...but to hear him say it is very interesting. We've been had by our own govt. that we have to keep voting in? Where does it end? Will they just kill the man that tries to over ride this Fed.system? Like JFK and Lincoln...see how the saving doesn't work? Crazy as that sounds. WOW

[G1SpaceDoll]

Great and now the Federal Reserve just announced that they are putting in 600 billion into the economy. Inflation here we come!!!!

[allords1]

A brilliant man.

[69vmac]

This video is a fantastic compliment to his book. The book was truly life-changing. FYI for more info on the mechanics of the monetary system, search "Why we are in so much debt" you YouTube.

[matwil74]

Gold has many uses in many different industries. I would not be able to post this message on YouTube if my iPhone didn't have gold in it. Medical eletronics use it. NASA uses it. Gold has extrememly high intrinsic value and it's rare, so this is why it's an ideal form of money. Bankers knew they couldn't steal your money through printing and inflation if the dollar remained tied to gold. We would all be richer now if we still had the fold standard.

[aetstw]

Actually, I see no one in this recent discussion has thought beyond our normal mode of thinking...What we must do, is work towards making everything so very efficient and technologically advanced that we can simply create whatever we need especially energy and food so abundantly that there is literally no need to even charge for it...while at the same time looking after our planet. Watch the lectures on youtube called "where are we now" and "where are we going" by Peter Joseph. Amazing info!

[JeremyGhost1]

Andrew Jackson was against fiat money and central banks, and look what those sick bastards did to him: they put him on the twenty dollar bill to spite him.

[NotLuckyInLife]

I'd rather be rich in spirit than rich in money which is an illusion. Very good series and we can't use tadpoles as they are dying out from pollution. Good idea though. Why not sea shells again? Tally Stick? Or good faith notes of barter.

[themekillz]

look up fractional reserve banking as explained in modern money mechanics, written by the fed.

[Fike2308]

What makes gold "valuable" ? Does it have any intrinsic value or is it just a matter of convention?

[HardcoreSalmon]

@Fike2308 gold takes work to dig up and there is a limited mount of it. its valuable through the work that goes into digging it up and because its rare. its an ideal currency because you can't create it out of nothing and it there can't loose value

[Fike2308]

@ Hardcore Salmon - Thanks for the explanation, makes sense but I've still always wondered how something with no practical use can be considered valuable....I'm sure there are plenty of rare 'things', for lack of a better term, in the world so I've always wondered WHY GOLD instead of other 'things' ?

As far as I can tell, Gold has no intrinsic value.

[HardcoreSalmon]

@Fike2308 its really just perception if it has value or not. we use currencies just to make it easier to trade things without trading actual belongings.

[tHoM0r]

@Fike2308 Its finite availability.

[Overcastkid747]

I wonder how gold got to it's amazing position of purchasing power? =/ Kind of weird. I understand it doesn't corrode, but what else does it do?

[HardcoreSalmon]

@Overcastkid747 gold isn't really that valuable, it used to be 1 dollar. its that the currencies have gone down so far that gold is now 1100 dollars. gold is still the same value!

[Skull666Bones]

Americas money used to be redeemable in gold. The fact that it's not anymore is proof that what this man says is correct. For since our money is backed by nothing, the Fed is free to make money out of thin air.

[globbo100]

@stevespelling: You just described the inflationary-boom part of the inflationary- boom and bust cycle that is brought about by the federal reserve system. The wealth you say was created was produced with money created out of thin air, and in essence, has no value. This creates the illusion of wealth, with the crash just around the corner.

[RightBrainSane]

stevespelling... you just dont get it sorry

[stevespelling]

This is a lot of nonsense & silliness. When the Fed prints money that is loaned to a business that produces something we have added to the wealth of the nation and not diluted it. If we get a loan to drill for oil and discover oil then wealth has been created. The "creation" of that money lead to wealth creation & not dilution of our currency. The oil produces revenue, the loan is repaid, those that discovered the oil get income & we get oil so that we can drive cars. He doesn't make any sense!

[tHoM0r]

@stevespelling The cartel still collects interest on that though, without participating in the creation of that wealth (except printing the enabling money) This only works during good economic times, but when there's no wealth to be made, the cartel still profits and everyone else suffers. Looks like a pyramid scheme to me, you can't win when the first step is fraudulent

[audacity226]

True, the way to be in this country is buy with cash on sale. Build your own house if you can and pay it off fast. Buy real estate as an investment and rent it. Do not put money in the market. Reason why banks are so kin on loaning, their existence depends on interest. Cut off those credit cards and never use them again.

[madmethod21]

Why should the oz of gold change from it's worth 2000 yrs ago? It means that the cost of any thing hasn't gone p since then. The Legal Tender is the polluted money that gives the illusion that prices are rising.

[311ftw]

wdhyou, that directed at me?

im in eu.

with the fed, it dont matter whos elected.

who prints money rules .period.

im affraid only a bloodbath can free america.

the ruling system is designed2take many with them upon failure.

its so stupid when ppl hope,it gives initiative away for free.sad.

[311ftw]

or to make it more clear.

why do we believe diamonds are worth shitloads of OUR WORK?

a fraud.ever held1?

does it look worth a fortune?

is it backed by something ?

all comes down to being backed by our trust, nothing else.

imf can buy gold for 44usd ounce, forget it, itsa fraud.

btw,a diamond is compressed cole, basically.

lol

[311ftw]

depends on the suit.

as reserve currency nation, youll get away with printing money to a certain point.

those who export goods will have2devalue currency too.

about gold, well, theres way more ppl on earth now and economy is too big to have everything backed by gold.

btw, who says gold is precious and worth something?

by what is gold backed?

see?

[rjohson]

he just contradicted himself, he said the federal reserve causes inflation by expanding the money supply; in rome a gold coin bought a suit and sandles; if the gold coin today buys a suit and sandle then didnt the ecomomy remain stable over thoudsands of yrs?

[josda1000]

no. the point is, we aren't allowed, because of legal tender laws, to use gold as currency. we must use these bank notes. so, the economy doesn't remain the same, while the purchasing power of gold always does remain the same. paper doesn't have intrinsic value, it just is backed by the "faith of the united states".

[Evangelander]

That's IF we were still on the gold standard.

[rjohson]

my point is if 2000 years ago a oz of gold bought a suit and sandles; and today an oz of gold only buys a suit and sandles, then the gold is no beeter than money because if money performed bad comapared to gold over 2000 then today an oz of gold shold be able to buy more than just a suit and a piar of sandles.

[Evangelander]

Agreed.

[donnomar]

the point is that you didn't get the point, the example means that if money was backed up by gold there wouldn't be inflation at all. However as you know there is inflation money loses its value, price of things increases every year, lets say you paid 100 dollars for a suit and a pair of shoes 10 year ago and you have to pay 1000 this year

[rjohson]

i see what your saying, nothing chaneged as it pertains to the oz of gold but ; but my point is this all depends on what one had to do to get a oz of gold back in roman days; if one had to dig 5 ditches back then to get a oz of gold; and 5 ditches to day to get a oz of gold then the gold standard remains constant. but today id one has to dig 100 ditches then the gold standard makes no difference.

[donnomar]

You still don't get it, forget the roman example, In the case of gold. gold is real, no body can create gold out of nothing. Money in the other hand it is just paper, with no real value as paper, money can be created out of nothing, and when you create money the value of the money already existing is deluted. Given that you like examples, imagine that you have 1 liter tomato soup, and somebody comes and add 1 litter of water to your soup and gives you your liter and takes the other liter away

[rjohson]

i get it but my point is it doesn matter weather or not gold is the standard; what determines the value of anything is the labor

[311ftw]

btw,open yourserf to further toughts then gold as backup.

2reasons are, realistically, no gold in fortknox, trespessing outlawed since40yrs.

reason2, did goldstandards work well in history ? by all means,no.

what backup worked longest in history ?

the main point in characteristics for monetary backup is safety from counterfeiting.

not only gold can do this.

unhonest govts will just print away and mix the gold with another metal ;-)

happend b4.

[wdharveyoicu]

but, you know what? WE as PEOPLE elected these DUMBASS OFFICIALS into office HOPING they would/could make a change. People are blaming Obama for doing what the previous administration put into place, and THEY voted for him. WE voted for/against these people. If we think we can do any better, RUN FOR OFFICE. If you don't like what's happening, DON't VOTE! Did you ever think they didn't pay attention to voter turnout at election time?

[311ftw]

add as friend,man, i like your arguments/attitude.

its ok as long money isnt created as debt(thiss the big trick)to have banks.

interest matter is debattable,since theres ways around regulations.

credit creation as of now is fraudulent, that should be changed.

yes100pct reserve bank can be profitable, crooks argue they arent competitive.

imo, profitable is good enough.

[311ftw]

gold standard+corrupt politicans+10%reserves rule=same assfucking for people.

how will ya know if theres not money printed in secret?

abolish banking , make them non profit businesses run by govt, period.

abolish central banking.

abolish income tax(not importsant,they can hide taxes in good things), atleast the part used2pay fedreserve interest rate.

then see what prosperity means.

[wdharveyoicu]

Banks used to be regulated by the government, but when they were de-regulated, THAT's when they decided to start chargin all kins of service fees, such as going to the counter and charging because you didn't use the ATM, charging more in fees than the consumer is drawing in interest, etc...the list goes on.

[ExquisiteDoom]

I'd like to comment on your remark ; who will regulate the regulators? In other words, sloppy regulations will always happen. Remember, they can print money out of nothing, and corrupt regulators any way they want. Now, why did we even NEED regulations to begin with? Oh... The FED! If you can borrow money without any risk.... you can't expect them not to exploit. A gold standard would bring honesty back, and we could still have a fed ; limited by the standard.

[ExquisiteDoom]

I agree, but banks need not be abolished. Just the fed. Only reason banks are corrupt is because the fed allows them to. There are banks that work with 100% reserves and are still profitable AND are good for society. Without banking, you can't get any debt, you can't start a business, or take a risk to create jobs. The problem comes from banks leveraging their funds through the fed.

[gblargg]

Oh man, that example of a gold coin buying a set of clothing in ancient Rome as well as today is great.

[arasta9999]

i enjoyed the book more than hearing him speak.

[richcastle]

where did you find the book? how much did it run you?

[cashmny78]

25 bucks and almost all bookstores carry it.

[imis23]

the barrower is servant to the lender...sucks when u wasnt even the the barrower in the first place fucken sins of the fathers huh why couldnt i be born after all this shit is over haha

[jwmag]

Don't worry, none of this will bother you when you're dead.

[leonski35]

banking and government are not going to relinquish the fiat money system and it's unproductive to talk about solution's ie- gold standard,greenback etc,we as individual's need to come together and overthrow the titan's who participate in this fraud,we need action otherwise it will continue into the nxt generation and the many more after that.

[leonski35]

fiat currency is one big fraudulent (legal) scam,and the sooner it is beheaded and changed to a gold/silver standard the better for us all.banking and government must be laughing at us all for being so trusting and gullible,shame on us.

[AbuBakerSmith]

@leonski35 then the Gold Merchants will control the Value. view The Money Masters, we don't need Gold based economy, why not tadpoles instead? The value of tadpoles can be determined just like gold, we could use condoms or any inanimate object. Don't be swindled by the Gold Peddlers, their agenda is not much different than the current scam.

[jneil2007]

@leonski35 Your right but they control all the gold so it doesn't matter. We just need to end the fed and have debt free money. Something we havnt had since before the civil war.

[ny1t]

@leonski35 Shame on us, yes, But we have been misled all our lives. It is up to us to see to it the young people know this at a young age.

[LiamE69]

@leonski35 Fiat currency is not the problem. The creation of money at debt and the fractional reserve banking system is.

[Jossher700]

I remember JFK tried to have the Federal Government print its own money. That and his intention to end the Vietnam war might have caused his death.

[MrDuffy81]

Every fiat currency in history has failed.

[louis12346]

I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic, wrote Andrew Jackson, inasmuch as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country.

,___,

[O.o]

/)__)

-"--"-

No man escapes when freedom fails;

The best men rot in filthy jails.

And those that cried "Appease! Appease"!

Are hanged by those they tried to please.

[afc0ne]

It will save the planet, if we let them they will keep us @ war and afraid to leave teh house! I dont want to kill my brothers $ sisters.

Bring back the GreenBack! it was backed by gold!

[Chhaylin]

He's a good talker! Interesting to listen to.

[audiogarden21]

@Chhaylin I agree. Sincerity has it's qualities.

[intrascoobz]

Knowledge is power, right? What does one do when informed? Scream? Protest? Yet, it is the methods of resistance the govt is expecting. Martial law is already enacted. There is a unity within this type of activity. Is this a time of transition? Does this system of collapsing economies worldwide work within the best interests of all? What of humanity's unity & can we focus on newer experiences? No more us vs them concepts! Thought think brainstorm what we, the people, are able to better discern?