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Video: How the Federal Reserve System Loots Us

Written by Gary North on July 5, 2014

So, you want to understand how the Federal Reserve works? Here is the best video on the topic. It was produced by the Mises Institute. It covers central banking’s history.

Unlike other videos on the Federal Reserve, it does not recommend that money creation be turned over to Congress, which will then produce “safe, reliable” fiat money: Greenbacks, or U.S. notes. To imagine that Congress would not counterfeit money by the barrel is silly. Why should anyone trust Congress with a printing press — a true license to steal?

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7 thoughts on “Video: How the Federal Reserve System Loots Us

  1. Holy Shirt says:

    If Central Bankers label diehard adherents of John Maynard Keynes' economic theories 'Keynesians' , what do they call Ludwig von Mises' loyalists? 'Misers'?

  2. "CORRECT"….

  3. WE WHO LIKE THE REAL GOLD STD , and would thus use gold as money, should not use the term 'gold backed money' because the gold IS money. Paper notes are ok if redeemable by bearer on demand . But the notes are just 'receipts', not 'backed ' by gold, because the gold IS the money. Se my books on Amazon.com

    See my writings in the left margin of Forward-USA.org, and my'business at SaferInvesting.org
    Comments ?

    Regards, Dave Redick

  4. Hayek would say Austrian theory .

  5. Not sure I would call this the best video or source of explanation ?

  6. storehouseministry says:

    It is Important to Remember,

    Creation of New wealth,
    is More Important,
    protection of existing wealth,
    the Economy will Collapse.

    The Focus on Gold and Silver,
    from Creation of New wealth.

    How much money do you Make in a year?
    How much dollars do you Save in a year?

    you probably Make 10 times more than you Save.

    So Making money,
    is 10 times more Important,
    than saving money.

    So how about more Emphasis,
    on Creation of New Wealth?

  7. do you have a better one you'd recommend?