Below is another interesting video from YouTube along with a transcription I put together from one particular section of the video. I hope you enjoy this unique perspective as much as I did. It validates a lot of similar conclusions I’ve drawn myself along the way. And don’t let the video title deter you.
Every human on this planet is enslaved whether they know it, or not. This is not the crude and primitive slavery of ancient times. It does not rely on whips and shackles to keep the oppressed in their place. These tools have been render obsolete by much more sophisticated methods.
Yet most of the enslaved are unaware of their condition and would in fact argue fiercely that they are free as a testament to the effectiveness of these invisible chains.
You’ve heard the expression, money makes the world go around. There’s truth in that. Money is the prime motive for human labor in modern civilization. If you want food, shelter, and clothing you must have money. And unless you’re part of that tiny minority that has more money than they can ever spend in their lifetime, then you must work, beg, or steal for that money.
That’s why you get up in the morning and go to work, even if you hate your job. And that’s why the specter of unemployment is more terrifying for most people than the prospect of spending 50 years of their life performing menial tasks within the confines of a florescent lit cubical.
Of course in western countries some are fortunate enough to have pulled away from the brink, and do not live in fear that their basic needs won’t be met. At least for now. And yet they keep spinning the hamster wheel. Why is that?
Could it be because money and the bling that it buys have become symbols of status, and prestige? Money offers an illusionary form of social validation. But even those who are not caught up in distinguishing themselves by how much they accumulate still must acknowledge that there’s a social stigma that comes with poverty.
The combination of these primal motivators, the need for food, shelter, clothing, and social validation is a very powerful force. It’s enough to drive humans to engage in all forms of activity. Even to the point of harming themselves or others in the process.
The accumulation of money is therefore the accumulation of social, and psychological power. And those who control the creation of money, control this power at its source.
So who controls the creation of money? Well in the case of the US dollar it’s not the government. This shouldn’t be an earth shattering revelation. The fact that the federal reserve is a private institution controlled by a cartel of the world’s most powerful banks is quickly becoming common knowledge. Even the main stream media doesn’t deny it at this point.
However the full extent of what this means is only clear when you understand how the banking system really works, and unfortunately this isn’t something we’re taught in school. But once you have it explained to you in simple terms, you’ll understand why.
Every dollar in circulation is loaned into existence by a bank. The process begins with the federal reserve when they loan out money to the US government, and other entities. You’ve probably heard this talked about before, especially in regard to the interest rate on those loans, which the federal reserve raises, and lowers depending on economic conditions.
But what’s never talked about in the mainstream is the fed isn’t actually loaning out money that they have. They are merely typing those dollars into existence on a computer.
You may be inclined to believe that this money is based on some physical backing like gold, but you’d be mistaken. The federal reserve hasn’t owned any gold since the 1930’s. When the federal reserve loans money to the US government, the US government gives the Federal reserve US government bonds in exchange.
These bonds are simply promises to pay back money loaned to them with interest through taxation. So to be clear here, the government is taking out a loan from a bank that is creating that money out of thin air and they’re expecting you, the tax payer, to cover that loan.
The absurdity of this arrangement is even more obvious when you realize that up until 1913 the US government created its own money and had no need for a bank to play the part of a middle man. That new money loaned out by the federal reserve enters circulation through the banks, accumulates to the banks, and in the end, the banks end up holding all the cards, not necessarily for the reasons you would imagine.
Contrary to popular belief, the majority of money in circulation isn’t created by the federal reserve, but rather by the ordinary banks that individuals and businesses use for their checking, savings, and mortgages. How is this possible? Well like the federal reserve, ordinary banks are allowed to loan out money that they don’t have. There are of course restrictions.
Banks are only allowed to loan out 10 times the amount of money that they actually have. So if Wells Fargo has $1,000 they can loan you $10,000 and they expect you to pay back that $10,000 plus interest. This is called fractural reserve banking. 75% of all money in circulation is created in this manner.
Now as bad as this all may seem, this is only the tip of the iceberg. Most banks structure payment plans so that for many years, you’re paying almost nothing but interest. And you only start paying down the principal gradually. The result of this strategy is that in most cases you pay far more in interest when you purchase a house, than the house itself is worth.
So here’s the real question. If all money is created through loans, where does the money come from to pay for the interest? Let’s say we reset the system to zero. Loan $1,000 into existence and charge 7% interest. We now have a total of $1,000 in the system. We owe $1,000 plus interest, and that’s more. The interest assures that there’s always more debt than there is money in circulation because the money to pay the interest doesn’t exist.
It never has, never will. This would be obvious if there was only one loan being issued to one person in this manner. When performed on a global scale the reality is hidden and is transformed into a game of musical chairs where the person ending up without a seat faces bankruptcy, and financial ruin. Because every dollar in existence is tied to a debt, this creates an unseen force that draws those dollars back to the banks kind of like gravity attracts a physical object to earth.
The catch here is that it’s the labor of the people that moves that money. Every hour that you work to pay off a loan, or keep the government from throwing you in jail over income taxes is an hour worked for the banks. The total receipts from personal income taxes just barely covers the interest on the national debt. And even the principal for the debt all ends up in the hands of the banks.
And remember that the bank created money out of nothing. Once you understand that the money the banks loan out isn’t actually an asset, but is in fact a piece of legal fiction it should be clear that you are working for these banks for free. This is a cleverly disguised form of slavery.
If you manage to pay your monthly payments then you are a successful slave and you are allowed to keep the material comforts that come with that status. But if for some reason you fail to make those monthly payments then the bank, or the IRS, comes to take your house, your car, and anything else you have of value.
And if somehow, even with this enormous financial advantage, the banks still get themselves into trouble, you, the tax payer will be forced to bail them out. No matter what, the banks win. To say the game is rigged is an understatement.
That’s it for the transcript. If you enjoyed this one then check out the following link for something more.
Lastly, if you’re interested in reading more on the Federal Reserve, Ron Paul wrote a great book on it.by