Second Look at the Federal Reserve by Edward Griffin 4 of 7

Where does money come from? Where does it go? Who makes it? The money magician's secrets are unveiled. Here is a close look at their mirrors and smoke machines, the pulleys, cogs, and wheels that create the grand illusion called money. A boring subject? Just wait. You'll be hooked in five minutes. It sounds like a detective story, which it really is, but it's all true. Based on Mr. Griffin's book of the same title, this address will shatter your old ideas about money and change the way you view the world. 1998 lecture.

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[AtomicPunk23]

Wow, I never knew that the federal reserve was just a front to tax the people without their direct knowledge. That's both brilliant and disturbing.

[marxbitesall]

As true and as serious as a heart attack!

[jimmyrtle]

@chrispyt77 Reserves are closer to zero? Where?

In the US, banks currently have $1.6 trillion in excess reserves.

How does anyone collect the interest attached to my $20s?

How does the Fed benefit from inflation? They own bonds you know, or do you think inflation is good for bondholders?

You know the money supply is more than what the Fed buys, right?

[chrispyt77]

@jimmyrtle

I know that - but the reserve limit was actually observed. Now it is not, and the reserves are closer to zero

As Ed explained - the loss of purchasing power is the hidden nature of the inflation tax. The FED and the govt are the ones who benefit. All fiat money including your 20's has interest attached: the money is lent into existence by the FED to the government, and the government has to pay back that amount plus interest. stuff 'getting more expensive' is how you pay.

[jimmyrtle]

@69vmac "The book is life-changing"

If by life-changing you mean full of silly errors, I agree.

[jimmyrtle]

@chrispyt77 "fractional banking is the greatest cause of inflation"

You know we had fractional reserve banking under the gold standard, right?

"money out of nothing with interest attached"

So what? My $20s don't have interest attached. Do yours? Who do you pay?

[chrispyt77]

@EbolaVirus1717

fractional banking is the greatest cause of inflation.

this coupled with the 'elastic' currency ie, money out of nothing with interest attached adds the sucker punch to the inflation double whammy.

If there was a free economy then supply and demand might make a difference, but that hasn't really existed for near on a hundred years.

with inflation, Supply and demand is just a sprinkling on top of the major problems i mentioned.

[chrispyt77]

@Elephantintheroom01

You should read his book - it has a whole chapter devoted to that topic called 'Masquerade in Moscow'.

it is DEFINITELY a book worth buying!

[solar9019]

I like lectures and videos like this. People can deny the nwo and write people Like me off as waky "conspiracy theorist" but here the facts and the truth prove themselves

[69vmac]

Griffin is amazing. The book is life-changing.  His research is so thorough. For more information on the mechanics of the monetary system, search "Why we are in so much debt" on YouTube.

[guitarpilot1]

Oh your so right! However, your frustration might weaken the delivery. Unfortunately presentation effects the mind way before reason. I wish there was enough cursing and swearing that would wake people from there dream world. If they had the information you have we might be able to muster enough seriousness to stem the tide of folly. Meanwhile the majority will continue down the river of foolishness.

[donttrustany1]

we are fuckked.....if we continue to choose to be.