wow thanks for this video! i love the way you explain this stuff it made me understand everything so much more clear. i always wondered why that money when i was little was worth so much more and why i could never find it even though it looked the same now i know why!
I want to add that Michael doesn't point out who the first members of the Federal Reserve were. They were and are to this day the very wealthy and business elites of this country. If Micheal is a libertarian I can then understand why he didn't mention this. As far as I know many libertarians believe that business is our savior. I would argue that the wealthy and powerful are to blame for our current problems. I trust big business way less than I trust big government.
I agree with a lot of what Michael says except: He gives the term government too broad of a brush. I assume he means the Federal Government. If I were him I wouldn't quote Ronald Reagan about the government consider he bloated the size of the government more than any other president. Many aspects of the national government and state governments do indeed do much good for the populace.
@R3volution28 it'll be a little while still before $80k is worth only $3.45 -even then -it'll still be worth something,its value and whether or not the Federal Reserve is privately owned -completely irrelevant to any meaningful political discourse.As usual- the Primary Goal of any American Libertarian is to get people chasing their tails with fallacies,fairy tales and falsehoods.
@matako07 only 30 years ago an equivalent car would cost you 5000 dollars....funny how you would be the first one to cry when your worthless paper can only be used to wipe your ass. Unfortunately, the dollar is the reserve currency of the world and the USA is the biggest exporter of inflation around the world and as a result the people are rising against governments globally because of your senseless policies. It will end sooner than later..
That means the dollar is just short of 3 cents. Or three percent of its actual value in gold. It means that you can't buy 2% of an ounce of gold with a dollar. 1 troy oz = 31.1 grams is 31100 milligrams. Let's say you have a 200 tablet bottle of asprin, each aspirin tablet being 325 mg. That means 95 tablets is equal to 31100 mg or 31.1 grams or 1 troy oz of gold. That's 48% of the bottle and fit in your hand.
@Cstrife234 Also, from my dad being hardcore into numismatics I've grown up around coinage all my life. He's had $1 troy gold oz coins. They're not huge pieces of gold, but they're about the size of a medicine bottle cap or a bit smaller. The price of gold hasn't gone up because it's worth more, it's gone up do to the rise in inflation. It means gold stays virtually the same, but the dollar gets lessened in value. If your paper notes are worth less and your income remains the same that means you
@Cstrife234 are SOL. Even if that was the case, that's assuming that the paper money is worth anything to begin with. He's totally right. A note is giving debt from one corperation to another (or a fictional entity that they consider you to be).
@Come2Deen There are other ways of measuring this value and I'm sure you can find them online, or at the library. The idea that gold can ever change in value more than what people allow it is quite funny to think of. People need to stop dealing with corporations and start trading with one another, privately. You don't need to be in the public spectacle to be engaged in trade. 'Hey man you got some bushels of apples...well I got this bushel of pears. How about we trade bushel for bushel', etc.
@growrichkid next time when presenting a paper like this, offer a visual aid for what you believe, bend your professor over a barrel and remove his pants and forcibly sodomize him. ::nod::
The International is a recent film starring Clive Owen. It tries to explain how the banking system is a corrupt regime which has its hands steeped in blood.
Can anyone tell me the alternative to central banking, fractional reserves and a fiat money system? I'm sold on the fact that the current system is terrible but whats the alternative and what are the pros and cons of this alternative?
and those r soooo easily monopolized due to scarcity. a much better alternative is use money as credit. theres nothin wrong w/ using money as credit but not debt. American colonial scrips were far mor successful & efficient than any metal system employed in colonial america. it was based not on metals & such but on the credit of the union of colonies which really is all u need for monetary system.
A monopoly on precious metals guarantees domination through use of inflation&deflation
Try reading Jeckyl Island and you will find the start and history of the federal reserve that started in 1913 uner the presidency of Woodrow Wilson alon giwht Progressivism, the root of today's liberalism
Nice high school lecture, but unfortunately for him rate of flow of currency, whether thats fake (I.O.U.) or substantial (Gold), determines exchange rates of goods and adds volume to an economy. The point is for this to happen faster than inflation, which currently is not happening. Now, I still don't agree with how the Fed operates, but if one is going to lecture about economics, explore all the possibilities please, don't just spread personal ideology. That is not science.
Weak, the title is not economics. Also he is not spreading ideology as you state. It is all facts, period. Further, please enlighten us on your take on how an economy should run since you seem to be judging his presentation.
I wish that this man taught at my school. He surely would wake up the people whom have no idea what the gov't is doing to us. They do more harm than good in my opinion!!!
People are just too stupid in general to ever get over this stupid shit some really freaky revolution is going too happen but the only option is meeting a much more mature and higher form of will we ever seriously look at our selfs and see have stupid and ignorent we are we are the scum of the earth
We the People of Earth have before us the opportunity to forge for ourselves, and for future generations...a True World Order. A world where Constitutional Responsible Freedom...not the Old World Disorder Demonic Theocracy...governs the conduct of nations. When we are successful...and we will be...we have a real chance at this True World Order...an order in which a credible United Nations can use Constitutional Responsible Freedom to fulfill the promise and vision of the Human Race.
i=interest p/p+i = amount of people that wil be able to pay back the loan I/p+I = amount of people that will not be able to pay back the loan
The normal interest on a $100,000 loan is $200,000. Amoritization is always used.
Using the equation.
1/(2+1) = 33% will not be able to pay back their loans
It is only a matter of time till that percentage of the population can not meet their loans like in the Great Depression when millions of acres became the banks
Doodaid, I think your missing the point. The economy should be in no one's hands. The market is to complex for any single person or group of people to understand, and to regulate. It regulates itself, and should be left to do it. Monopoly power on the issuance of currency is the flaw with central banks. Who runs the bank is irrelevant, it is treason if the president runs it or the private bank runs it.
The economy will always be in the hands of the economists. The existence of economists requires businesses to seek their advice, and their suggestions change the actual outcomes. The most important thing one must learn in the economy is to separate the theoretical from the actual; theoretically, the economy should be in no one's hands. In reality, that's impossible.
He'd make sense if he got his facts straight. Napoleon had already been back in power and trying to fight Haiti- that's what caused him to need to sell land to the U.S. in the first place. It wasn't him coming out of exile.
And the central bank is an essential domestic control, especially because it limits the presidents' power on the economy and keeps it in the hands of economists. Thank god this idiot didn't have a chance for president.
How are your economists doing now? The central bank puts the economy into the hands of the politicians and bankers. That is its very purpose.
When the dollar is tied to something quantifiable such as gold, it limits the amount of currency that can be issued. This means a government has to raise money by either raising taxes (which means the population will see the government expenditure) or by borrowing money from other nations.
Technically the first outsourcing began in 1913 whe america outsourced the congressional power to coin money to the central bank of the federal reserve...
this is in response to"Why oh why Michael aren't you running on the Libertarian ticket again this year instead of that neocon Barr????", do you think the idiotic public will vote for him.
Sadly everyone is voting for Obama where I live. When I was at the polls today there was an asshat waking around between the machines telling everyone "I voted straight democratic ticket" and telling everyone at a machine to "just vote straight democratic" and how to do it. The workers were not even challenging him until I finally spoke up, only then they run him out.
What he did was illegal, and nobody in charge did anything to stop him.
"If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered." Thomas Jefferson
Lyndon Baines Johnson (August 27, 1908 – January 22, 1973), often referred to as LBJ, served as the 36th President of the United States from 1963 to 1969 after his service as the 37th Vice President of the United States from 1961 to 1963.
... then i say "i dont have any dollars, but i do have federal reserve notes, will you accept this as fair and righteous payment?" gets people everytime..
This guys smart. hes on the right track. i tell people, if you go into a store and buy some clothes and the cashier says "that will be 34 quarts"..........would you not say 34 quarts of what! would you not? same thing with dollars i do it in stores all the time... thatl be 12 dollars sir... "dollars of what? *funny look" the whole time ill be holding fed notes in hand....lol.
"Give my control of a country's money supply, and i care not who makes its laws." Rothschild The book "Creature From Jekyll Island" shows how the federal reserve is a private banking entity and is exempt from almost all the governments checks and balances.
Even if Ron Paul loses we can abolish the Federal Reserve. Petition your local Congressman to Repeal the Federal Reserve Act! We already have a form set up. Fully automated for your convenience. It just requires an interested individual to fill it out and electronically send it to their congressman. doesn't get any easier.
capwiz.c om/jbs/issues/alert/?alertid=10887821
Good luck!! Only we can end this. No one will do it for us.
Understand the constitution! I suggest "Ian Xel Lungold" regarding mayan calendar 2012. When viewing the suggested info, not as "truth", but as a possibility of "we are one" as a progressing civilization, and the end of Power(NWO) cycle towards a universal consciousness. Just my $.02, (all dialogue welcome)
This guy knows more about money than most members of Congress; which is truly pathetic. It's not complicated. Any 4th grader could be taught this; yet the Congress that We, the People have elected don't get it, or they've been bought off. More likely, they've been bought off, huh?
yeah more likely they've been bought off...power corrupts...our government was hijacked a long time ago, when are we going to stand up and take it back?
Snydrome: I think one of the reasons I was put on this Earth is to help educate the misinformed masses. TV is a powerful weapon of mass delusion. All of my education and experience has brought me here to understand the banking system, politics, and religion as they really are, and to expose the Wizard of Oz behind the veil. The revolution is happening - right here - right now; albiet in it's infancy, it is growing at a logrithmic rate. I heard that there are 1000 viewers per comment on YouTube.
wow, i'm so glad to find this teacher on line... i didn't know what i'd been missing. i can't wait to watch the rest of his lectures! thank you professor badnarik!
They should make a movie about these super-elite guys at the very top who run everything. Maybe they sincerely believe they're trying to save what's left of the planet before all of us idiots wreck it with our endless cheeseburger consumption.
theyre not trying to save anything, they want to enslave the populace of the Earth in Ecomonic Servitude. They want to control all industry, and the banks and corporations and dictate life to us. Thay will provide us with all types of gadgets for us to buy with the money we make working for them. Wake up, you all live in the real Matrix...and its not machines and programs in control, it's the elitists...
Jefferson was in debt $24,000. When the Library of Congress lost all of its books in a big fire, Thomas Jefferson sold his entire personal library to replenish the LoC. His library contained more books that the original LoC and he did this to cancel his debts to his creditors.
You aren't even bringing up any points. Nobody is going to listen to you when you keep calling people names. You have no credibility. Discuss actual facts/topics.
This comment has received too many negative votesshow
This is soooo stupid!!! I can't beleive there are so many people that buy into this. Everyone has a problem with borrowing, so hold politicians accountable for it, dont bash the federal reserve, which is now our only means of providing relieve during contractions. PEOPLE need to get a clue and acutally understand the function of the fed.
You really need to get a handle on how banking and money works. The fed and banking policy and a debt-based monetary system is the root cause of the contractions. The fed has no place in a free market, but it does have a place in communism, as you can read in the communist manifesto.
Okay if you really wanted to have currency with no central policy then that will lead to every mom and pop bank to loan at all their own rates...this is what creates major speculative bubbles and causes runaway inflation. Yes today the system is abused beucase people do not hold their politicians accountable, also, the notion that fiat is worthless is incorrect. The value of money is based on both supply and demand for dollars.
OK, so, mom and pop banks loan at their own rates. So what? As long as they are solvent, meaning, no fractional reserves (no fraud). It's interesting that you deny that there haven't been huge bubbles in the last 94 years since the fed was created. And our 2007 dollar is now worth 3 cents of 1913 money. Awesome!
That your concern is misguied becuase the fractional reserve system was created long before the fed. If you think its fraudlent to let banking practice that then write a letter, start a petition, becuase anyone who understand free enterprise knows its a fundamental tool to spur growth in a free market. If entrapeneurs cannot get the money they need growth wont happen. The price they pay is the interest rate.
"the fractional reserve system was created long before the fed"
Yes the fraudulent fractional reserve system was created long ago, and the fed and other central banks were created to keep the insolvent banks afloat. If you truly believe in a free market than there's no room for a central bank that can print money out of nothing and interfere with the operation of the free market. I assume you agree with that. You can't be pro-free market and pro-central banking. They are opposites.
Well it seems that you will never be convinced that the fractional reserve system is not fraudlent; if you wanted all the banks to have all the reserves to be equal to their liabilites, it would be an extremely inefficient use of money. Velocity would shrink and that wuld shrink gdp. The problem isnt with the fed in terms of keeping insolvent banks a float, the banks that put profit over practice are to blame becuase they use people to get the fed to help them.
You need to have some control over the supply of money through a central system so you can have it grow so the supply doesnt shrink with greater population and the technology or entrapenuars dont come through, which can take longer than a childhood. Also, people want it replace with gold? How dumb, so they find a gold vein in south aftrica and it doubles the supply of gold....GREAT IDEA!!
Your first mistake is to think that in a free economy the money supply MUST increase. This is simply not true and reveals your completely ignorance of the subject. In a debt based monetary system, yes the money supply MUST increase. In a free market, the market chooses what is money. In a totalitarian system, the government dictates what is money and would need control over the supply. So admit it, you're a big government authoritarian who's against true freedom. It's OK.
Okay then, when liquidity dries up becuase of thrift savings increase (a smith is concerned with this principle) and this is reinforced by a downturn in a bussiness cycle or worse, a structural shift in the economy would you rather have a little inflation so people could eat?
When "liquidity dries up" it means that no one in the market wants the crap your trying to sell them. Because it's crap. That is what has been going on this month. "Liquidity injections by the fed" means that the fed will buy all the crappy worthless paper assets from the banks at above market.
If you believed in the free market (which you don't) you'd understand that the market solves the problems on its own.
the current bailout are gratuitious yes, you are right about that. However, becuase of the banking practices people are in a position where they are losing their homes, and a degree of practial-ness is needed. Laws are required to curtial the loaning practices that created many of forclosure problems we've seen lately. Bundling, balloon payments, and all the new products that are offered affect the currency and it fucks everything up when banks exploit the system counting on a bailout
The law needs to be changed to prevent banks from using morgages as assets, thats exactly whats happen and when the banks use people's homes as collateral it ties the fed to a bailout...this is wrong, but the fed isnt the problem, its bankers that play the system becuase laws are not in place to prevent this
Central banking is not opposite of free market, money is a medium of exchange at its value is determined with what you can buy with it. The fed doesnt print money out of nothing, through open market operations they can affect the interest rates, and the government and banks that take advatage of it is wrong, the economists that work for the fed are not greedy bankers, I'm sympathetic becuase its there to keep stability and instead its being abused. Your anger is misplaced
Oh and they aren't responsible for the dollar's plunge? Wait until it collapses- remember this when it does. About 80% of the world's land and purchasing power is owned by less than 20 families. The bankers are in control. The Rothschilds, the Rockefellers, etc.
I'm not an authoritarian nor for big government, I'm a libertarian who can understands that the value of money is more complicated than if it doesnt say "gold tender" it's worthless. That just isnt true. The value of money is dictated by both the supply and demand for money....lok at what china has to do with their currency...and they are assholes for doing it but the reason why they have to do it is becuase they have no control of the demand for their currency.
And you want to know how much a dollar is worth? Its actually worth a dollar. Its considered a global currency, yes there is euro has become its primary rival...but find me one person on the plannet that can buy a dollar for 3 cents. The price of the dollar fluctates through exchange rates, and yes with more borrowing buy the fed governemnt that increases the value of the dollar becuase the demand for dollars goes up and decreases exports, and inverse is also true...
I dont advocate lending to everyone (sub prime morgages, interest only, etc) But in terms of business, and free enterprise its just as important and property rights. "debt based monetary system" no, its turned into this becuase the only good point he makes is congress no longer begs for our money, but we dont hold them accountable for borrowing
the problem with the internet generation saying vote for ron paul is the numbers simply don't add up to all the old fogies who don't have a clue how the system really works and will vote for the criminals barack clinton guliani and mccain
it's a lost cause to try to raise awareness of the lower candidates because the powers to be ensure they get the most exposure to the sheep in this country
If you look at Secretary Gates and the new head of national intelligence who used to run the NSA and Bush's other friends of his dad when his dad ran the CIA - it's clear the spies are in charge.
JFK demanded we not have secret courts & agencies, that we not withold government wrongdoing as "state secrets." He fought against censorship and the stifling of dissent.
Great explanation of the real world of international banking powers - Rockefeller, Rothchilds, Morgans, etc. If you want the rest of the story read Rule by Secrecy by Jim Marrs. His research and references are amazing.
For those of us who don't like the old fashioned 'take weeks to get it - take days to read it' routine - there is also a google video by Jim Marrs called 'Rule by Secrecy' just google it under the google video tab.
But the market dictates that exactly. Borrowers go to someone else. Some can influence but ultimately the market dictates what and where money is used for.
Yes. We are the market. Thats exactly what his whole point is. You cant force your way upon him. If he wants gold and silver. Thats his choice. Did u know the govt confiscated gold and assumes the power to do so again?! How can they do that!?
The limitation on private gold ownership in the U.S. was repealed by an act of Congress codified in Public Law 93-373 [1][2] which went into effect December 31, 1974.
But you cant use gold as monetary correct only a commodity. But they can't take it from you for cash anymore.
then the condition of the human phyce is to crate war and poverty as that is the result of what we dictated the market to create....bllldafpda (thats a fart noise)
Why would gov't 'take' the money in the first place. Look up your central bank history in the US. And look up the original laws pertaining to gold and silver. You say he knows history. Economics is proven by history. History tells us you cant create wealth u dont have. Unless you alleviate ur debt you will b bankrupt. This is bad!
The limitation on private gold ownership in the U.S. was repealed by an act of Congress codified in Public Law 93-373 [1][2] which went into effect December 31, 1974.
They can't take it from you for cash anymore. -- That part I am correct on.
And yes you can be "forgiven" for quite a bit less money, as even the IRS knows something is better then nothing. But if you decide to ignore them, they will come after you.
As for foreign debt, yes that sometimes is fogiven too!
wow thanks for this video! i love the way you explain this stuff it made me understand everything so much more clear. i always wondered why that money when i was little was worth so much more and why i could never find it even though it looked the same now i know why!
hippa2dahoppa2 1 month ago
Is it me or does Michael Badnarik sound like Jerry Seinfeld?
danniecurnow 2 months ago
I want to add that Michael doesn't point out who the first members of the Federal Reserve were. They were and are to this day the very wealthy and business elites of this country. If Micheal is a libertarian I can then understand why he didn't mention this. As far as I know many libertarians believe that business is our savior. I would argue that the wealthy and powerful are to blame for our current problems. I trust big business way less than I trust big government.
CaptHiltz 8 months ago
I agree with a lot of what Michael says except: He gives the term government too broad of a brush. I assume he means the Federal Government. If I were him I wouldn't quote Ronald Reagan about the government consider he bloated the size of the government more than any other president. Many aspects of the national government and state governments do indeed do much good for the populace.
CaptHiltz 8 months ago
I like what M.Badnarik is saying ... the truth. Keep it up!!!
Sygorg 9 months ago
this man is very intelligent i could listen to his lectures all day
MacPr0xnxx0 9 months ago
they used to hang traitors in this country. Now they turn them into bankers, lobbyists and career politicians.
jesusisalive2 10 months ago 4
these LiberTardians should just move to an island and be done with it.
The fool holds up a dollar and says it Worthless.
Yet if have 80 ooo of those worthless "notes" -I can BUY a wicked BMW.
Silly libertarians need to start making sense instead of weaving little fairy tales to distract people.
matako07 1 year ago
@matako07 The thing you don't understand is your "80,000 notes" will soon only be able to buy you a loaf of bread the more they devalue the dollar..
R3volution28 1 year ago
@R3volution28 it'll be a little while still before $80k is worth only $3.45 -even then -it'll still be worth something,its value and whether or not the Federal Reserve is privately owned -completely irrelevant to any meaningful political discourse.As usual- the Primary Goal of any American Libertarian is to get people chasing their tails with fallacies,fairy tales and falsehoods.
matako07 9 months ago
@matako07
You're from Canada, explains everything.
MidNiteR32 9 months ago
@matako07 only 30 years ago an equivalent car would cost you 5000 dollars....funny how you would be the first one to cry when your worthless paper can only be used to wipe your ass. Unfortunately, the dollar is the reserve currency of the world and the USA is the biggest exporter of inflation around the world and as a result the people are rising against governments globally because of your senseless policies. It will end sooner than later..
vincentca2004 7 months ago
A bit oversimplified but interesting.
juliaisafilmbuff123 1 year ago
この動画にレスポンスを付ける...
ikdsjOFFICIAL 1 year ago
Then why can't we jail them?
linwooddeaton 1 year ago
This has been flagged as spam show
@CineGraphic what is LBJ ? thanks in advance.
Come2Deen 1 year ago
1950 : 1 oz gold = $35
2010 : 1 oz gold = $1220
Divide 35 by 1220 and you get 0.028
That means the dollar is just short of 3 cents. Or three percent of its actual value in gold. It means that you can't buy 2% of an ounce of gold with a dollar. 1 troy oz = 31.1 grams is 31100 milligrams. Let's say you have a 200 tablet bottle of asprin, each aspirin tablet being 325 mg. That means 95 tablets is equal to 31100 mg or 31.1 grams or 1 troy oz of gold. That's 48% of the bottle and fit in your hand.
Cstrife234 1 year ago 2
@Cstrife234 Also, from my dad being hardcore into numismatics I've grown up around coinage all my life. He's had $1 troy gold oz coins. They're not huge pieces of gold, but they're about the size of a medicine bottle cap or a bit smaller. The price of gold hasn't gone up because it's worth more, it's gone up do to the rise in inflation. It means gold stays virtually the same, but the dollar gets lessened in value. If your paper notes are worth less and your income remains the same that means you
Cstrife234 1 year ago
@Cstrife234 are SOL. Even if that was the case, that's assuming that the paper money is worth anything to begin with. He's totally right. A note is giving debt from one corperation to another (or a fictional entity that they consider you to be).
Cstrife234 1 year ago
@Cstrife234 thanks for the explanation..you are brilliant.
Come2Deen 1 year ago
@Come2Deen There are other ways of measuring this value and I'm sure you can find them online, or at the library. The idea that gold can ever change in value more than what people allow it is quite funny to think of. People need to stop dealing with corporations and start trading with one another, privately. You don't need to be in the public spectacle to be engaged in trade. 'Hey man you got some bushels of apples...well I got this bushel of pears. How about we trade bushel for bushel', etc.
Cstrife234 1 year ago
The federal reserve - A Den of Vipers.
END The FED!
enemyartistkristofeR 1 year ago 3
@growrichkid
that needed to be video recorded.
I wouldve payed to see that.
stuntdoogie 2 years ago
@growrichkid next time when presenting a paper like this, offer a visual aid for what you believe, bend your professor over a barrel and remove his pants and forcibly sodomize him. ::nod::
Flayprime 2 years ago
The International is a recent film starring Clive Owen. It tries to explain how the banking system is a corrupt regime which has its hands steeped in blood.
Damn those Rothschilds!
antoconno 2 years ago 2
hes really good, we need more men like him, very sad about the heart attack out of nowhere
mexxxking 2 years ago
Can anyone tell me the alternative to central banking, fractional reserves and a fiat money system? I'm sold on the fact that the current system is terrible but whats the alternative and what are the pros and cons of this alternative?
Trojanmagnus 2 years ago
something that actually has value. precious metals like gold/silver/platinum.
those options are virtually inflation proof because they are so rare and you can never make more of them, you can only dig it up.
wachman 2 years ago
and those r soooo easily monopolized due to scarcity. a much better alternative is use money as credit. theres nothin wrong w/ using money as credit but not debt. American colonial scrips were far mor successful & efficient than any metal system employed in colonial america. it was based not on metals & such but on the credit of the union of colonies which really is all u need for monetary system.
A monopoly on precious metals guarantees domination through use of inflation&deflation
imbrd 2 years ago
I'm from Canada, does anyone know how similar the central banks are in Canada? Does it operate the same way as the Fed?
Trojanmagnus 2 years ago
i'm pretty sure they are all owned by the IMF and the World Bank.
girlphriend 2 years ago
Yeah it operates the same, however I don't know what your constitution says about how it "should" work,..
alleeenterprise 2 years ago
FACTS
FRN's have a first lien by the US gov/corp.
FRN's by their definition are notes.
FRN's are an obligation of the US.
Look up "taxpayer": someone who recieves "income."
Look up "income": someone who out of labour etc...recieves "money."
Look up "money": it is not notes, evidence of debt, etc...
So are you/we "taxpayers"?
I'll leave that for you to decide. Peace
hiphopsocnroc 2 years ago
Try reading Jeckyl Island and you will find the start and history of the federal reserve that started in 1913 uner the presidency of Woodrow Wilson alon giwht Progressivism, the root of today's liberalism
santababy1952 2 years ago
Yes, good, but better read is the Fed acts from 1913 till present. And going through title 26 USC and other titles of the US code. Peace
hiphopsocnroc 2 years ago
R.I.P. to the 'Greenback'
heat45jc 2 years ago
This guy is smart and worth listening to.
Scurge237 2 years ago
Nice high school lecture, but unfortunately for him rate of flow of currency, whether thats fake (I.O.U.) or substantial (Gold), determines exchange rates of goods and adds volume to an economy. The point is for this to happen faster than inflation, which currently is not happening. Now, I still don't agree with how the Fed operates, but if one is going to lecture about economics, explore all the possibilities please, don't just spread personal ideology. That is not science.
WeaponXU 2 years ago
Weak, the title is not economics. Also he is not spreading ideology as you state. It is all facts, period. Further, please enlighten us on your take on how an economy should run since you seem to be judging his presentation.
hiphopsocnroc 2 years ago
I wish that this man taught at my school. He surely would wake up the people whom have no idea what the gov't is doing to us. They do more harm than good in my opinion!!!
EVLPropaganda 2 years ago
People are just too stupid in general to ever get over this stupid shit some really freaky revolution is going too happen but the only option is meeting a much more mature and higher form of will we ever seriously look at our selfs and see have stupid and ignorent we are we are the scum of the earth
Kooistar 2 years ago
Wow, you sure do speak for yourself. Life is great, and we must embrace that fact.
hiphopsocnroc 2 years ago
We the People of Earth have before us the opportunity to forge for ourselves, and for future generations...a True World Order. A world where Constitutional Responsible Freedom...not the Old World Disorder Demonic Theocracy...governs the conduct of nations. When we are successful...and we will be...we have a real chance at this True World Order...an order in which a credible United Nations can use Constitutional Responsible Freedom to fulfill the promise and vision of the Human Race.
redletterchurch 2 years ago
You are obviously a mental midget to think that this gentleman has not the ability to be knowledgeable in more than one topic.
Get over yourself!
gotveggieoil 2 years ago
I got the equation mixed up that is the amount of people that will be able to pay back their loans.
Wiseinvestor777 3 years ago
It is a land/resource grab by the bankers that do nothing.
Wiseinvestor777 3 years ago 2
p=principle
i=interest p/p+i = amount of people that wil be able to pay back the loan I/p+I = amount of people that will not be able to pay back the loan
The normal interest on a $100,000 loan is $200,000. Amoritization is always used.
Using the equation.
1/(2+1) = 33% will not be able to pay back their loans
It is only a matter of time till that percentage of the population can not meet their loans like in the Great Depression when millions of acres became the banks
Wiseinvestor777 3 years ago
You have to remember that most today have not seen anything but a NEGATIVE amortization table!
gotveggieoil 2 years ago
R E S P E C T
vomit55 3 years ago 3
Damn straight, bless this guy!
NivoUF 3 years ago 6
I heard he was great but he did have his dirt also. Not to denegrade. He was still an excellent president.
DaHonestAbe 3 years ago
Doodaid, I think your missing the point. The economy should be in no one's hands. The market is to complex for any single person or group of people to understand, and to regulate. It regulates itself, and should be left to do it. Monopoly power on the issuance of currency is the flaw with central banks. Who runs the bank is irrelevant, it is treason if the president runs it or the private bank runs it.
Bilakaifa 3 years ago
The economy will always be in the hands of the economists. The existence of economists requires businesses to seek their advice, and their suggestions change the actual outcomes. The most important thing one must learn in the economy is to separate the theoretical from the actual; theoretically, the economy should be in no one's hands. In reality, that's impossible.
doodaid 3 years ago
The economy I relish is the one of bartering & trading. YEEHAW!
GOTTshua 3 years ago
He'd make sense if he got his facts straight. Napoleon had already been back in power and trying to fight Haiti- that's what caused him to need to sell land to the U.S. in the first place. It wasn't him coming out of exile.
And the central bank is an essential domestic control, especially because it limits the presidents' power on the economy and keeps it in the hands of economists. Thank god this idiot didn't have a chance for president.
doodaid 3 years ago
How are your economists doing now? The central bank puts the economy into the hands of the politicians and bankers. That is its very purpose.
When the dollar is tied to something quantifiable such as gold, it limits the amount of currency that can be issued. This means a government has to raise money by either raising taxes (which means the population will see the government expenditure) or by borrowing money from other nations.
08MVPyouKnowWho 2 years ago
this guy makes so much sense it's crazy..
he should be president in USA till he dies..
DiscoBlasphemia 3 years ago 2
Technically the first outsourcing began in 1913 whe america outsourced the congressional power to coin money to the central bank of the federal reserve...
w1ck3dz0d1ac 3 years ago
barack and mccain. badnarick opposes both.
thisisbunk 3 years ago 3
We could have had Paul/Badnarik 08! What a match!!
mortisnoctu 3 years ago 18
Why oh why Michael aren't you running on the Libertarian ticket again this year instead of that neocon Barr????
tuttt99 3 years ago 2
this is in response to"Why oh why Michael aren't you running on the Libertarian ticket again this year instead of that neocon Barr????", do you think the idiotic public will vote for him.
debunkingdebunkers 3 years ago
Who are you talking about? Badnarik or Barr?
Sadly everyone is voting for Obama where I live. When I was at the polls today there was an asshat waking around between the machines telling everyone "I voted straight democratic ticket" and telling everyone at a machine to "just vote straight democratic" and how to do it. The workers were not even challenging him until I finally spoke up, only then they run him out.
What he did was illegal, and nobody in charge did anything to stop him.
tuttt99 3 years ago
barack is closer to badnarik than mccain is
kalajdame 3 years ago
ummmm, no. i think they are both on the same team and barack is smarter.
thisisbunk 3 years ago
who is on the same team?
kalajdame 3 years ago
"If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered." Thomas Jefferson
TakingBackTheGOP 3 years ago 7
Thomas Jefferson was a badass.
ZamatoElite 3 years ago 3
support
luciferro2002 3 years ago
I love your vids!!!!
stephenbru 3 years ago
I want this guy for a teacher.
KissMeImPunk 3 years ago 4
check out the documentation "The Money Masters"
on google video to get into the history behind the 1st, 2nd BoA and the FED !
IT'S TREASON ON THE PEOPLE OF THE US !
ABOLISH THE FED
d0dge25 3 years ago
JFK tried to compete with the Federal Reserve by issuing "United States Notes" backed by silver....look what happened to him!
RIght away, LBJ cancelled Kennedy's act and gave the Federal Reserve all of it's power back. We are slaves to the Fed...don't forget it!
CineGraphic 3 years ago 33
So was JFK doing a good thing or not?
DaHonestAbe 3 years ago
@CineGraphic what is LBJ ? thanks in advance.
Come2Deen 1 year ago
@CineGraphic what is LBJ ? thanks in advance.
Come2Deen 1 year ago
@Come2Deen
Lyndon Baines Johnson (August 27, 1908 – January 22, 1973), often referred to as LBJ, served as the 36th President of the United States from 1963 to 1969 after his service as the 37th Vice President of the United States from 1961 to 1963.
CineGraphic 1 year ago
@CineGraphic thank you for your help..may you stay healthy n happy inshaAllah.
Come2Deen 1 year ago
@CineGraphic Yea one of the most traitorous presidents in US history...but the 1 we got now makes him look like a choir boy.
someintelligence4u 1 year ago
@CineGraphic EXECELLENT. I'd bet my money that was the sole reason for his murder.
GreenRiver72 1 year ago
... then i say "i dont have any dollars, but i do have federal reserve notes, will you accept this as fair and righteous payment?" gets people everytime..
SilverlogiX 3 years ago
This guys smart. hes on the right track. i tell people, if you go into a store and buy some clothes and the cashier says "that will be 34 quarts"..........would you not say 34 quarts of what! would you not? same thing with dollars i do it in stores all the time... thatl be 12 dollars sir... "dollars of what? *funny look" the whole time ill be holding fed notes in hand....lol.
SilverlogiX 3 years ago
"Give my control of a country's money supply, and i care not who makes its laws." Rothschild The book "Creature From Jekyll Island" shows how the federal reserve is a private banking entity and is exempt from almost all the governments checks and balances.
3rdEyeSpeaks 4 years ago 7
hm..yea I always suspected that about Donald Duck. Dirty little bird.
commonsense2008 4 years ago
Even if Ron Paul loses we can abolish the Federal Reserve. Petition your local Congressman to Repeal the Federal Reserve Act! We already have a form set up. Fully automated for your convenience. It just requires an interested individual to fill it out and electronically send it to their congressman. doesn't get any easier.
capwiz.c om/jbs/issues/alert/?alertid=10887821
Good luck!! Only we can end this. No one will do it for us.
purplefetus3 4 years ago 4
Support the abolishment of the Federal Reserve!! Contact your local official, you can use this site's form- pretty easy and quick to do.
htt p://ww w.capwiz.c om/jbs/issues/alert/?alertid=10887821
HanzouMasamori 4 years ago 3
go for it, feel the wrath of the IRS
jcyn21 4 years ago
I like this guy. makes me want to go back to school. very interesting. everything he says here is true.
Bigassjay 4 years ago 3
RON PAUL
DonkfestPokerDotCom 4 years ago 6
Badnarik is a little embarassing, but he raises good points and would be a much better President than Bush.
DeAnte85 4 years ago
The only reason you say that he is embarrassing is because of the little childish snickering in the background so it's a subconscious response.
CitizenPeter 4 years ago
Donald Duck would be a better president than Bush.
Rockstar97321 4 years ago 5
Great lecture!!!
ZinayH 4 years ago
This comment has received too many negative votes show
See you in jail.
albyva 4 years ago
this is why you must get RON PAUL ELCTED FOR PRESIDENT. or else you'll be stuck with this criminal bank.
spanishaustralian 4 years ago 4
Understand the constitution! I suggest "Ian Xel Lungold" regarding mayan calendar 2012. When viewing the suggested info, not as "truth", but as a possibility of "we are one" as a progressing civilization, and the end of Power(NWO) cycle towards a universal consciousness. Just my $.02, (all dialogue welcome)
vi67 4 years ago
This guy knows more about money than most members of Congress; which is truly pathetic. It's not complicated. Any 4th grader could be taught this; yet the Congress that We, the People have elected don't get it, or they've been bought off. More likely, they've been bought off, huh?
Rockstar97321 4 years ago 2
yeah more likely they've been bought off...power corrupts...our government was hijacked a long time ago, when are we going to stand up and take it back?
syndrome1965 4 years ago
Snydrome: I think one of the reasons I was put on this Earth is to help educate the misinformed masses. TV is a powerful weapon of mass delusion. All of my education and experience has brought me here to understand the banking system, politics, and religion as they really are, and to expose the Wizard of Oz behind the veil. The revolution is happening - right here - right now; albiet in it's infancy, it is growing at a logrithmic rate. I heard that there are 1000 viewers per comment on YouTube.
Rockstar97321 4 years ago
This comment has received too many negative votes show
Jews have paid enough for their stereotype you nazi fuck.
Anywho, I heard Ron Paul supports a gold standard because of his own company or something like that, anyone know what's up with that?
d3p3ch3mod3 4 years ago
Join our group Economy in Crisis. Goto my channel and click groups. Michael is a member and our mentor. You can ask him questions directly.
mdavedc 4 years ago
what college is this?
W33BLMAN 4 years ago
Yeah, I want to go there!
rockstarofredondo 4 years ago
Why can't all teachers be this wise?
CynicalGuitarist 4 years ago 5
That's a meaning argument.
Like the post below me says: attack ideas, not people.
Incongruent 4 years ago
This guy is a great lecturer. I wouldn't mind taking that class.
Incongruent 4 years ago 3
Me neither, except the class is just under 7 hours straight (Not including breaks).
I have the iPod version of his lecture, and I listen to every time i'm in the car.
Ron Paul 08'
ZamatoElite 3 years ago 6
I never thought about that about the Louisiana purchase. They don't teach you that in history class.
tcpip4lyfe 4 years ago 5
wow, i'm so glad to find this teacher on line... i didn't know what i'd been missing. i can't wait to watch the rest of his lectures! thank you professor badnarik!
TheUrbanHomesteaders 4 years ago
this is a college class, not highschool
Jaxar1 4 years ago 2
They should make a movie about these super-elite guys at the very top who run everything. Maybe they sincerely believe they're trying to save what's left of the planet before all of us idiots wreck it with our endless cheeseburger consumption.
perfectionbox 4 years ago
"Maybe they sincerely believe they're trying to save what's left of the planet"
They WANT a post-industrial paradise and a world population of 500 million by 2030.
neothomist1275 4 years ago
theyre not trying to save anything, they want to enslave the populace of the Earth in Ecomonic Servitude. They want to control all industry, and the banks and corporations and dictate life to us. Thay will provide us with all types of gadgets for us to buy with the money we make working for them. Wake up, you all live in the real Matrix...and its not machines and programs in control, it's the elitists...
syndrome1965 4 years ago 2
Thomas Jefferson is the only president that reduced the federal deficit to $0.00
G5F4D3S2A1 4 years ago 6
Too bad he wasn't good with his personal money. The First Government Bailout in US history was in 1826, and it was to bail TJ out of personal debt.
Either way, i still love the guy. One of the better Politicians we have had in history (Despite is cruddy presidency).
ZamatoElite 3 years ago
Jefferson was in debt $24,000. When the Library of Congress lost all of its books in a big fire, Thomas Jefferson sold his entire personal library to replenish the LoC. His library contained more books that the original LoC and he did this to cancel his debts to his creditors.
friedenmeister 2 years ago
Most do not know this fact, but considering the apathy that resides in the hearts of many Americans this is not surprising.
gotveggieoil 2 years ago 2
You aren't even bringing up any points. Nobody is going to listen to you when you keep calling people names. You have no credibility. Discuss actual facts/topics.
ssnow05 4 years ago 4
sounds like Clark Howard
kohios1 4 years ago
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This is soooo stupid!!! I can't beleive there are so many people that buy into this. Everyone has a problem with borrowing, so hold politicians accountable for it, dont bash the federal reserve, which is now our only means of providing relieve during contractions. PEOPLE need to get a clue and acutally understand the function of the fed.
SeanT228 4 years ago
@SeanT228
You really need to get a handle on how banking and money works. The fed and banking policy and a debt-based monetary system is the root cause of the contractions. The fed has no place in a free market, but it does have a place in communism, as you can read in the communist manifesto.
scott715 4 years ago 5
Okay if you really wanted to have currency with no central policy then that will lead to every mom and pop bank to loan at all their own rates...this is what creates major speculative bubbles and causes runaway inflation. Yes today the system is abused beucase people do not hold their politicians accountable, also, the notion that fiat is worthless is incorrect. The value of money is based on both supply and demand for dollars.
SeanT228 4 years ago
@SeanT
OK, so, mom and pop banks loan at their own rates. So what? As long as they are solvent, meaning, no fractional reserves (no fraud). It's interesting that you deny that there haven't been huge bubbles in the last 94 years since the fed was created. And our 2007 dollar is now worth 3 cents of 1913 money. Awesome!
scott715 4 years ago 2
That your concern is misguied becuase the fractional reserve system was created long before the fed. If you think its fraudlent to let banking practice that then write a letter, start a petition, becuase anyone who understand free enterprise knows its a fundamental tool to spur growth in a free market. If entrapeneurs cannot get the money they need growth wont happen. The price they pay is the interest rate.
SeanT228 4 years ago
"the fractional reserve system was created long before the fed"
Yes the fraudulent fractional reserve system was created long ago, and the fed and other central banks were created to keep the insolvent banks afloat. If you truly believe in a free market than there's no room for a central bank that can print money out of nothing and interfere with the operation of the free market. I assume you agree with that. You can't be pro-free market and pro-central banking. They are opposites.
scott715 4 years ago
Well it seems that you will never be convinced that the fractional reserve system is not fraudlent; if you wanted all the banks to have all the reserves to be equal to their liabilites, it would be an extremely inefficient use of money. Velocity would shrink and that wuld shrink gdp. The problem isnt with the fed in terms of keeping insolvent banks a float, the banks that put profit over practice are to blame becuase they use people to get the fed to help them.
SeanT228 4 years ago
You need to have some control over the supply of money through a central system so you can have it grow so the supply doesnt shrink with greater population and the technology or entrapenuars dont come through, which can take longer than a childhood. Also, people want it replace with gold? How dumb, so they find a gold vein in south aftrica and it doubles the supply of gold....GREAT IDEA!!
SeanT228 4 years ago
Your first mistake is to think that in a free economy the money supply MUST increase. This is simply not true and reveals your completely ignorance of the subject. In a debt based monetary system, yes the money supply MUST increase. In a free market, the market chooses what is money. In a totalitarian system, the government dictates what is money and would need control over the supply. So admit it, you're a big government authoritarian who's against true freedom. It's OK.
scott715 4 years ago
Okay then, when liquidity dries up becuase of thrift savings increase (a smith is concerned with this principle) and this is reinforced by a downturn in a bussiness cycle or worse, a structural shift in the economy would you rather have a little inflation so people could eat?
SeanT228 4 years ago
@SeanT228
When "liquidity dries up" it means that no one in the market wants the crap your trying to sell them. Because it's crap. That is what has been going on this month. "Liquidity injections by the fed" means that the fed will buy all the crappy worthless paper assets from the banks at above market.
If you believed in the free market (which you don't) you'd understand that the market solves the problems on its own.
scott715 4 years ago
the current bailout are gratuitious yes, you are right about that. However, becuase of the banking practices people are in a position where they are losing their homes, and a degree of practial-ness is needed. Laws are required to curtial the loaning practices that created many of forclosure problems we've seen lately. Bundling, balloon payments, and all the new products that are offered affect the currency and it fucks everything up when banks exploit the system counting on a bailout
SeanT228 4 years ago
The law needs to be changed to prevent banks from using morgages as assets, thats exactly whats happen and when the banks use people's homes as collateral it ties the fed to a bailout...this is wrong, but the fed isnt the problem, its bankers that play the system becuase laws are not in place to prevent this
SeanT228 4 years ago
Central banking is not opposite of free market, money is a medium of exchange at its value is determined with what you can buy with it. The fed doesnt print money out of nothing, through open market operations they can affect the interest rates, and the government and banks that take advatage of it is wrong, the economists that work for the fed are not greedy bankers, I'm sympathetic becuase its there to keep stability and instead its being abused. Your anger is misplaced
SeanT228 4 years ago
SeanT228... Not sure what 'opposite' of free-market means, but a market is cannot be free so long as there is a central bank.
pingish 4 years ago 3
Oh and they aren't responsible for the dollar's plunge? Wait until it collapses- remember this when it does. About 80% of the world's land and purchasing power is owned by less than 20 families. The bankers are in control. The Rothschilds, the Rockefellers, etc.
ssnow05 4 years ago
Do you believe the fed is a branch of the govt.? Who does the govt. owe it's debt to?
wynoosefarm 4 years ago
I'm not an authoritarian nor for big government, I'm a libertarian who can understands that the value of money is more complicated than if it doesnt say "gold tender" it's worthless. That just isnt true. The value of money is dictated by both the supply and demand for money....lok at what china has to do with their currency...and they are assholes for doing it but the reason why they have to do it is becuase they have no control of the demand for their currency.
SeanT228 4 years ago
And you want to know how much a dollar is worth? Its actually worth a dollar. Its considered a global currency, yes there is euro has become its primary rival...but find me one person on the plannet that can buy a dollar for 3 cents. The price of the dollar fluctates through exchange rates, and yes with more borrowing buy the fed governemnt that increases the value of the dollar becuase the demand for dollars goes up and decreases exports, and inverse is also true...
SeanT228 4 years ago
I dont advocate lending to everyone (sub prime morgages, interest only, etc) But in terms of business, and free enterprise its just as important and property rights. "debt based monetary system" no, its turned into this becuase the only good point he makes is congress no longer begs for our money, but we dont hold them accountable for borrowing
SeanT228 4 years ago
the problem with the internet generation saying vote for ron paul is the numbers simply don't add up to all the old fogies who don't have a clue how the system really works and will vote for the criminals barack clinton guliani and mccain
it's a lost cause to try to raise awareness of the lower candidates because the powers to be ensure they get the most exposure to the sheep in this country
emptycorp 4 years ago
They need to teach this in schools starting in 9th all the way to college. Would never happen though. Hey American Idol is on!
cdominus 4 years ago 3
What this guy explains here is one of many reasons to vote for Ron Paul, sound money.
gulllars 4 years ago 6
He has endorsed Dr. Paul, by the way.
ParadeRainer 4 years ago 2
He certainlly has, and, Ron Paul wrote the foward to Michael Badnarik's book "Good To Be King"
Oh yeah, Ron Paul in O8!!!!!
LordIeuan 4 years ago
Fantastic!
marcosagostos 4 years ago
Great information. Thank you Mr. Badnarik for your work. FSULibertarians support your ideas and support Ron Paul for President!
FSULibertarians 4 years ago
for more information research Jordan Maxwell on google video, also Alex Jones is great footage of our newcoming military state
realguy420 4 years ago
Ron Paul for President! Ron has already stated he would ELIMINATE the Federal Reserve.
VoteRonPaul08 5 years ago
I plan on voting for him
santababy1952 2 years ago
If you look at Secretary Gates and the new head of national intelligence who used to run the NSA and Bush's other friends of his dad when his dad ran the CIA - it's clear the spies are in charge.
JFK demanded we not have secret courts & agencies, that we not withold government wrongdoing as "state secrets." He fought against censorship and the stifling of dissent.
Bush would have him shot again today.
blahinhawaii 5 years ago
Great explanation of the real world of international banking powers - Rockefeller, Rothchilds, Morgans, etc. If you want the rest of the story read Rule by Secrecy by Jim Marrs. His research and references are amazing.
JAM4111 5 years ago
For those of us who don't like the old fashioned 'take weeks to get it - take days to read it' routine - there is also a google video by Jim Marrs called 'Rule by Secrecy' just google it under the google video tab.
blahinhawaii 5 years ago
But the market dictates that exactly. Borrowers go to someone else. Some can influence but ultimately the market dictates what and where money is used for.
And who is the market = WE ARE !
jabberwolf 5 years ago
Yes. We are the market. Thats exactly what his whole point is. You cant force your way upon him. If he wants gold and silver. Thats his choice. Did u know the govt confiscated gold and assumes the power to do so again?! How can they do that!?
thisisbunk 5 years ago
Are you talking about when the government made it illegal to hold on to large supplies of gold and silver?
They did this and traded it for its market price of money.
They did not STEAL it from people.
They did this to get more liquidity out there so that it could jump start the economy out of a recession.
And I doubt they were taking the gold from the common man... but more from the very very wealthy stockpiling gold and silver.
I thank them for doing that by the way.. it worked.
jabberwolf 5 years ago
Presidential Executive Order 6102
thisisbunk 5 years ago
The limitation on private gold ownership in the U.S. was repealed by an act of Congress codified in Public Law 93-373 [1][2] which went into effect December 31, 1974.
But you cant use gold as monetary correct only a commodity. But they can't take it from you for cash anymore.
jabberwolf 5 years ago
then the condition of the human phyce is to crate war and poverty as that is the result of what we dictated the market to create....bllldafpda (thats a fart noise)
laotsu7777 5 years ago
ODIOT !
First, world bank has dropped interest in some cases and in some forgiven debt. They also loan to help in emergencies of drought and famine.
Money is an interpretation of worth.
Gold was once use but even GOLD changes in value when people think its worth more or less.
Thats why Governments have money. Money is a promise to pay back, thus called Promisay notes!
Get this IDIOT back in school. He knows History but not economics. That's why you need a COMPLETE education boys and girls ;)
jabberwolf 5 years ago
Why would gov't 'take' the money in the first place. Look up your central bank history in the US. And look up the original laws pertaining to gold and silver. You say he knows history. Economics is proven by history. History tells us you cant create wealth u dont have. Unless you alleviate ur debt you will b bankrupt. This is bad!
thisisbunk 5 years ago
LOL yeah too bad countries get the best interest rates and sometimes dont even have to pay back interest. Hell some debts are actually forgiven.
WOW, conspiracy without brains !
jabberwolf 5 years ago
Watch 'Confessions of an economic hitman' Gives a little insight to second half of what ur saying. Forgiven? Not exactly.
When you cant or dont pay your taxes, they take your other properties.
So Forgiven? No. Thats not true.
thisisbunk 5 years ago
yeah and if you don't pay the taxes,those bankers will take something else...so,no they aren't forgiven at all.
WOW,a person that doesn't have a clue.
nochey78 4 years ago
I was talking about GOLD BARS!
And no, if you dont pay your taxes, the IRS will put a lean on something you own and then take it from you.
And those evil bankers that gave you a loan ( money) want it back eventually.. dam them!
( lol who doesnt have a clue ?! )
Why cant people just give money away!!
jabberwolf 4 years ago
but they do take something else....thanks for proving my point..
nochey78 4 years ago
no one said money should just be given away...you were simply wrong on your assertion that debts are forgiven.they aren't...
nochey78 4 years ago
The limitation on private gold ownership in the U.S. was repealed by an act of Congress codified in Public Law 93-373 [1][2] which went into effect December 31, 1974.
They can't take it from you for cash anymore. -- That part I am correct on.
And yes you can be "forgiven" for quite a bit less money, as even the IRS knows something is better then nothing. But if you decide to ignore them, they will come after you.
As for foreign debt, yes that sometimes is fogiven too!
jabberwolf 4 years ago