Will Trump KILL The Fed? -- G. Edward Griffin

Transcript : alright well our next guest needs very 0:09 little introduction he is the author of 0:11 the best-selling book the creature from 0:13 jekyll island a second look at the 0:15 federal reserve now in its fifth edition 0:19 and 30 second printing his name 0:22 the author is G Edward Griffin and it's 0:25 great to have you back on follow the 0:26 money radio well thank you Gary 0:29 appreciate your inviting me back 0:31 absolutely what we've had you on now 0:32 several times we've spent time mainly in 0:35 the past delving into your book that 0:38 creature from jekyll island a second 0:40 look at the Federal Reserve this book it 0:43 has impacted so many people including 0:45 myself 0:47 it is a book as you've described in the 0:49 past on this podcast as a really good 0:52 doorstop because it's so thick but at 0:54 the same time it is filled with 0:57 information that at the time was 1:00 probably very difficult to write because 1:03 you are breaking new ground relying upon 1:05 very little as compared to what we have 1:08 today and today of course 1:10 everywhere I go now and I'm anytime I 1:12 hear a story about the Fed or anytime 1:14 i'm seeing some sort of online 1:16 discussion board about the Fed there you 1:18 are and they're your book is because at 1:21 you have made a massive impact in the 1:24 world of monetary economics here in the 1:26 United States i'm really curious as we 1:28 get started 1:29 just give us your general finger on the 1:31 pulse take of what you think about 2016 1:35 the chances for qe4 are we going to see 1:38 rate i just talked about the Fed for a 1:40 moment 1:40 well sure that's a little unusual for me 1:42 because usually we started you know 1:44 historically at the other end and come 1:46 up to the present but i like the idea of 1:49 starting with the present because that's 1:50 where the action is of course but it 1:53 makes it a little difficult to make my 1:56 ideas sound rational if we don't 1:58 understand a little bit about the Fed 2:00 but nevertheless that the risk so let's 2:02 test see where we go with it 2:03 my idea about where we're headed with 2:06 the chances for qe4 and that sort of 2:08 thing is that we have no other place to 2:11 go because the old saying is you can't 2:14 get the spots off of the leopard federal 2:18 reserve system is a creature 2:20 and it's designed to do a certain thing 2:22 and only that thing it's a cartel jump 2:26 back a little bit of history and make 2:28 sure that our listeners understand that 2:30 we're not talking about a government 2:31 agency 2:32 we're not talking about an institution 2:35 that is responsive to the political 2:37 patterns of the day or the political 2:40 opinions are the pressures is completely 2:42 independent it's a cartel no different 2:45 than a banana cartel or an oil cartel 2:47 happens to be a banking cartel and it 2:50 was given the authority of government 2:53 coercion back in nineteen thirteen when 2:56 the federal reserve the act was passed 2:58 into law all of a sudden this cartel 3:00 agreement between the banks for their 3:03 own regulation that was made into law 3:06 with that great accomplishment bridgend 3:09 accomplishment on their part 3:11 now that means that all Americans must 3:13 comply with a private banking cartel or 3:16 outside they'll be violating the law 3:18 which means that go to prison and so 3:20 since the for everybody knows that if 3:22 you go to prison for not doing something 3:24 they assume therefore that's the 3:26 government that behind it you know you 3:29 get half credit for that 3:30 it's a private institution is a banking 3:32 cartel but they they enlisted the power 3:34 of government to enforce their edicts so 3:37 now we have president we have this 3:39 monster this creature in place and is 3:41 designed to serve the interests of the 3:43 banks and it's not that even though they 3:46 talked a lot about you know protecting 3:48 the economy and and controlling 3:50 inflation and encouraging employment and 3:53 all these good things that they have to 3:54 say in order to make it sound like they 3:56 really give a hoop about the people that 3:58 they say those things but in when you 4:00 follow what they actually do everything 4:02 they do is to enhance the power of the 4:04 prestige and the profit margins of the 4:06 banking institutions because that's the 4:09 kind of the creature it is it's a 4:11 banking cartel 4:12 so now what does that mean in terms of 4:15 what we can look forward to in the 4:16 future all a banking cartel can do all 4:20 that ever wants to do for its own 4:22 interest of course is to expand the 4:24 money supply to expand the money supply 4:26 is the solution to all problems as far 4:28 as the banks are concerned that he said 4:31 the money supply is the inventory of the 4:33 banks 4:34 banks make money well in two ways they 4:36 actually manufactured but that they 4:38 don't make money by manufacturing and 4:40 they can't just printed and then spend 4:42 it what they do is they printed and 4:44 blended it doesn't really go into 4:47 circulation until somebody steps up to 4:49 the bank window and says hey we want to 4:51 borrow some money 4:52 well if the bank has plenty of money to 4:55 lend an unlimited supply of money to 4:57 lend 4:58 well that's that's good that means they 4:59 can lower interest rates and because you 5:03 know you if you're making money out of 5:05 literally nothing manufacturing it out 5:07 of nothing you don't have to charge a 5:09 lot of interest to show a profit and 5:12 that's why they like to be at this power 5:14 of being able to create money to land 5:16 rather than having to solicit depositors 5:20 to deposit money into the banks 5:22 it's the banks are limited to only what 5:24 depositors put into the bank's they have 5:27 a lot less money to lend a lot less 5:30 money that land and they only make money 5:32 by lending money so you can see right 5:34 away what the self-interest is there and 5:36 having what they like to call an elastic 5:38 money supply is because they can just 5:41 create the money and lend it lower the 5:43 interest rates move the interest rates 5:45 to whatever level it needs to be to get 5:47 the customers to come in and borrow and 5:49 pay that interest so knowing that that's 5:52 the nature of the beast man is easy to 5:55 predict I think to predict what is going 5:57 to happen they're going to have a QE 4 5 6:01 6 and that's all they know how to do 6:02 anything else that they were to do like 6:05 either restricted retract the money 6:08 supply or restricted to a certain fixed 6:11 level would be devastating to the profit 6:13 margins of the banking industry because 6:16 that would restrict their inventory 6:18 would restrict their their ability to 6:19 make loans and that sort of thing so 6:22 that now getting to the short answer to 6:25 your question yeah they're going to 6:26 continue to expand the money supply and 6:29 they'll always do that as long as they 6:31 exist i'm curious as you look at the 6:34 overall economy 6:35 you also have this book as we talked 6:38 about the creature from jekyll island 6:39 that you wrote many years ago and all of 6:42 this stuff is unfolding all of this 6:44 stuff is beginning to unfold we saw in 6:46 two thousand 6:47 we saw the lead up to it before 2008 you 6:50 called it in your chapter bailout is the 6:52 name of the game 6:54 I mean you've been talking about this 6:56 and it's interesting how people have 6:58 responded you have people like a mutual 7:01 friend of ours 7:01 robert kiyosaki he's a friend of the 7:03 show he really adores your work and what 7:06 he tapped into was he understood what 7:08 you were saying and he said ok I get the 7:11 fact that everything is debt so i'm 7:13 going to go out and i'm going to 7:14 leverage the debt for my benefit 7:17 so he actually learned how to use the 7:19 system for his benefit knowing that the 7:22 system is going to eventually implode 7:25 because it's unsustainable i'm curious 7:28 how you approach it you always have 7:30 people on both sides so you have robert 7:32 kiyosaki who is taking your information 7:34 is is mesmerized by it and strongly 7:36 believes in it and he has reacted to it 7:38 in this way then you have other people 7:40 who read your book and they go out and 7:43 they buy gold and they put it underneath 7:44 the ground and they say you know I don't 7:46 know what to do i'm worried how here's 7:48 my question to you at how have you 7:50 responded personally from the knowledge 7:52 that you know what end of the spectrum 7:55 have you been on your own personal 7:56 investments and how do you and what 7:59 advice would you have of course you're 8:01 not a financial advisor but think about 8:02 that 18 year old kid who's just getting 8:04 out of high school he doesn't know of 8:07 course he should read your book but he 8:08 doesn't know much of that information 8:10 what would you tell somebody who's 8:11 coming out of high school 8:13 how should they prepare for a debt-based 8:15 world and what have you done to protect 8:17 yourself 8:18 well first of all I'd like to respond to 8:20 Robert Kiyosaki's analysis of the 8:23 situation and his model of how to deal 8:25 with it i really don't disagree with 8:27 that it and it may sound like that 8:28 contradictory but I think we have to 8:30 understand 8:31 Robert is not talking about going into 8:34 debt for consumption purposes he's not 8:37 saying going into debt buy a bigger 8:39 house or a yacht or take a trip around 8:41 the world or anything like that he is 8:43 specifically looking at real estate 8:45 investments and you could look at other 8:47 types of investments but is it happens 8:49 to be real estate and he is simply 8:52 saying that it 8:53 inflation is going to happen because the 8:56 of this debt cycle that i was talking 8:58 about earlier the expansion of the money 9:00 supply 9:01 then for business purposes not for 9:03 personal purposes but for business 9:05 purposes and creating cash flow he say 9:08 let's take advantage of that while it 9:10 lasts 9:11 we know it's all going to hand it in a 9:13 horrible spot but right now we can 9:15 either stand at it look at it with 9:17 horror on our faces or we can try and 9:19 manipulate it and jump in and take 9:21 advantage of it and make some money 9:23 along the way and that's what is basic 9:25 plan is but however when he says money 9:28 that we have to be very careful because 9:30 it's several definitions of money in one 9:33 of his really good lines is you know you 9:36 shouldn't work for money you should put 9:37 money to work for you and it's kind of a 9:39 tricky thing in it is right but the 9:41 point is that when when Robert makes his 9:44 cash flow and it comes in and all of a 9:47 sudden he has more dollars at the end of 9:49 the month when he did at the beginning 9:50 of the month 9:51 what does he do with those extra federal 9:53 reserve notes 9:54 well lot to me to a large extent will 9:56 turn around and put it back into the 9:57 system again and parlay that process but 10:00 to a another extent he will take it and 10:02 buy gold now that is real money or if 10:05 you exist let's say it's a different 10:07 form of money 10:08 it's a more reliable desirable for money 10:11 perhaps but anyway so Robert is not 10:13 opposed to money just what he says money 10:16 he's talking about federal reserve notes 10:18 or fed our fiat money currency that is 10:20 not backed by anything but Robert is a 10:23 strong believer of gold and silver and 10:25 that sort of thing which is the ultimate 10:27 money so we have to understand he's not 10:29 read to talking about something 10:31 different than what I am and I would 10:33 advocate that anybody who has the 10:35 aptitude and the business ability the 10:39 personality that drive the perspective 10:41 the education the background knowledge 10:43 did pursue investments of that kind 10:46 putting money into an expanding currency 10:49 system that they should do it because it 10:51 would be to their benefit but not 10:54 everybody is in that category of face it 10:56 Robert isn't a genius at that and the 10:59 people who do this spend their lives 11:00 learning and practicing and studying and 11:03 following the changes that are 11:05 constantly going on so it's not for 11:07 everyone and that's my point for now for 11:09 the student coming out of school 11:11 it's not ready for that yet you better 11:13 get an education 11:14 you better study the real estate market 11:16 or whatever market is into if he wants 11:19 to go into minerals or or whatever it is 11:22 art or anything that you have to become 11:24 an expert so it takes a lot of 11:25 experience and knowledge before you can 11:28 start to play the game because in an 11:30 expanding economy 11:31 yeah it is easy to make a profit because 11:33 it you know prices are always going up 11:35 you can buy now and she'll later it at 11:38 higher prices not because the value went 11:40 up because the the dollar went down so 11:43 it's easy just to look like you're 11:44 making a profit in such a the economy 11:46 but if they all those economies also 11:49 have tips you know they're they're 11:51 volatile they go up up up and then down 11:53 then up up down up down down up down and 11:56 if you're not really careful when you 11:58 don't really understand what you're 12:00 doing you could be wiped out at one of 12:02 those dips so it's a dangerous game and 12:04 you have it's not a bad game I mean any 12:07 real games football is a dangerous game 12:09 we've got a lot of people to play 12:10 football and so forth so I'm not saying 12:12 you shouldn't play football but you 12:14 better know how to play football if 12:16 you're going to go out in the field and 12:17 play against professionals and you 12:19 better have the right protection gear on 12:21 and maybe that's a good analogy 12:23 so for the student coming out of school 12:25 I would not recommend going out and 12:28 playing in the in the big markets 12:30 against the big players you might dabble 12:32 a little bit and learn as you go 12:34 now for the person who is sort of in the 12:36 middle of life are approaching the 12:37 retirement years this i don't know this 12:39 it doesn't sound to me like a very smart 12:42 thing to do i'm in that category 12:44 I'm one of those people that's trying to 12:46 put away investigation li I think of the 12:49 day may come when I may not be able to 12:51 get out there and and and play that 12:53 football game as hard as I used to 12:55 so I'm looking for the shot landing and 12:57 people who maybe don't have the aptitude 13:00 to be competitive and aggressive and all 13:02 about in the marketplace ought to be 13:05 thinking about that position earlier in 13:07 light so there's no there's no single 13:10 answer that pitch to everyone and I 13:12 think as long as it is we understand 13:14 that the economy is as we think about is 13:18 going in my view at least is going to 13:20 crash and you better get whatever plan 13:23 you have you better have that event 13:26 pretty well included in your plan 13:28 in your contingency what happened then 13:31 and what happens when you can no longer 13:34 rely on currency and you're practically 13:37 a near Barbara's stage or and this is 13:40 even worse or you have to depend on the 13:42 government for literally everything you 13:44 know what happens then 13:46 do you have any way to protect yourself 13:48 from becoming a sort of a surf in the 13:51 system and serving your lords and 13:53 masters who are giving you your the 13:54 benefits of food clothing shelter 13:56 medical care education all these things 13:59 if you don't want to wind up like that 14:01 you better be thinking in terms of 14:03 putting something away that has lasting 14:06 purchasing power other than dollars and 14:10 so that's that's my answer and I think 14:12 everybody should have that ultimate view 14:14 in mind no matter if they want to play 14:16 the aggressive game meanwhile they ought 14:18 to be thinking about the end of the game 14:20 listen to the voice of G Edward Griffin 14:22 he is the author of the best-selling 14:24 book very influential book the creature 14:27 from jekyll island a second look at the 14:29 Federal Reserve is now in its fifth 14:31 edition in 30 second printing and I want 14:34 to talk to you about the upcoming red 14:36 pill expo want to talk about that in a 14:38 moment but before we do let's switch 14:40 gears just for a minute and talk about 14:42 this crash that you're referring to i 14:45 would assume for having read your book 14:48 knowing you're having you on this 14:49 program several times i'm guessing that 14:52 you're talking about the day that the 14:53 Fed loses credibility 14:55 let's talk about how that may unfold we 14:58 saw recently with the 911 story you've 15:01 been hammering the 911 story for some 15:04 time and then we saw the Saudi Arabia 15:08 come into the crosshairs the kingdom of 15:10 saudi arabia came into the crosshairs 15:11 they've been in the mainstream media 15:13 lately the petro dollar system now 15:15 influx were suddenly seeing all of the 15:18 stuff that we haven't seen bantered 15:20 about in the mainstream press with Saudi 15:23 Arabia all over it and now of course we 15:26 just witnessed and I hate to date this 15:27 program but you know one of the worst if 15:30 not the worst mass shooting in US 15:32 history just occurred over the weekend 15:34 by gentleman by the name of Omar mateen 15:36 he was a shooter in orlando killed 49 15:39 people injured 53 other people 15:41 he was traveling back and forth to saudi 15:43 arabia saudi arabia has given lots and 15:46 lots and lots much more so much more 15:48 support than Iran or one of these other 15:50 countries that we constantly complain 15:52 about in the mainstream press so here's 15:55 my question 15:56 saudi arabia and how it is playing into 16:00 the role with the US dollar right now 16:03 can you see that as part of the overall 16:07 crash that you see the Saudi Arabia play 16:10 a role in that all considering its 16:11 closeness and its close proximity to our 16:14 currency or do you think it's something 16:16 else 16:17 what causes that collapse in your mind 16:21 based on your information that you've 16:23 been studying for so many years whenever 16:25 you're ready of profound questions area 16:28 and to tell you the truth I hadn't 16:29 really thought much about the role of 16:32 the Saudis in the strengths or 16:36 weaknesses of the dollar specifically 16:38 i'm sure there are plenty of connections 16:41 there if we took some time to analyze it 16:44 because there's so much type of show big 16:46 goes through there that money goes in 16:48 and out and around about but I basically 16:50 i see the of the ultimate demise of the 16:54 american dollar as something that's more 16:57 historic because the more fundamental 16:59 issues even if if the Saudis weren't 17:02 there if they were completely out of the 17:05 question out of the picture entirely I 17:08 still don't think that would change the 17:09 inevitability of the collapse of the US 17:12 dollar one bit because of these historic 17:14 that these historic factors and what are 17:16 they 17:17 well this is simple fact that it doesn't 17:20 have to be made complicated is if you 17:22 expand the money supply at a rate faster 17:25 than the expansion of goods and services 17:27 then the value of the purchasing power 17:29 that is of the monetary unit keeps going 17:33 down it's just a question of ratio you 17:35 know if it takes as much effort human 17:38 effort to produce one dollars worth of 17:41 silver lets say by mining and refining 17:44 it admitting it if it takes a certain 17:46 amount of effort produced that that is 17:49 the amount of effort that one dollars 17:52 worth of silver that coin will buy 17:54 in the marketplace in terms of suits and 17:57 your clothing and meals and anything 17:59 else that requires effort in a free 18:02 market the value of whatever is chosen 18:04 in and money with intrinsic value 18:06 meaning that takes human effort to 18:08 produce it has value of its own 18:11 other than money way that the monetary 18:13 system always keeps pace perfectly with 18:16 every other goods and services because 18:18 of the common denominator is human 18:20 effort 18:21 well once you get that human effort out 18:23 of the equation and now you can create 18:25 money simply by raising your hand and 18:27 say okay we got 51-percent vote on this 18:30 so now we're going to we're going to 18:31 create another nine billion dollars and 18:33 we're gonna bail out the banks or 18:35 whatever we want to do we just create 18:36 the money 18:37 well then the money plugs into the 18:39 market but the goods and services didn't 18:41 jump by nine billion dollars that moment 18:43 so all of a sudden you know the goods 18:46 and services remain with their value but 18:49 monetary unit goes down and that is a 18:52 process that always happens when you 18:54 abandoned gold or silver or anything 18:57 else of intrinsic value that back your 18:59 money so that it always happened 19:01 throughout history this is not a recent 19:03 phenomenon has been going on for a 19:06 thousand years or more and as you know 19:09 so we we don't have to guess about these 19:11 forces all we have to do is open up a 19:13 couple of history books and say all ok 19:16 it happens there Olga what happened 19:17 there all happened there too 19:19 well I guess what there's support that 19:20 work there even if we don't understand 19:22 it like I tried to explain in a moment 19:24 ago we know that it happened so whenever 19:28 humans have the ability to expand the 19:30 money supply at will completely by 19:33 political decision or personal decision 19:36 of any kind even that kind of the 19:38 present system in Federal Reserve can 19:40 expand the money supply independent of 19:42 the political will of the nation but 19:44 they have to monitor it and not get too 19:46 far out of whack with it but anytime 19:48 humans can expand the money supply at 19:50 will they know what they're going to do 19:52 they're going to spend the money supply 19:54 because it's to their advantage to do so 19:56 and I'm going to continue to do that 19:57 until finally the purchasing power of 20:00 that monetary unit will approach and 20:03 suddenly become 0 and that's the end of 20:06 the line 20:07 conditions were you know we're rapidly 20:09 approaching that now faster i think that 20:11 most people realize and not because of 20:14 the amount of inflation that actually we 20:16 can go out and feel enough in the 20:19 marketplace 20:20 although that's bad enough but because 20:22 so many of the american dollars that 20:24 have been created over the last few 20:26 decades have been sent overseas but the 20:29 call the euro dollars but they're sent 20:31 all around the world not just to Europe 20:33 because other nations have even worse 20:35 monetary systems than ours and so they 20:37 use the american dollar as their medium 20:40 of exchange as their international 20:42 currency you know they couldn't really 20:44 conduct a big monetary transactions in 20:47 most countries unless they could use the 20:48 american dollar so the world has been 20:51 hungry to accept american dollars and we 20:54 can see that produced so many of them 20:55 that the world doesn't want them so 20:57 we've been spared the inflationary 20:59 effect of producing these dollars we 21:02 spend these dollars overseas that it 21:05 costs us nothing to manufacture and we 21:07 get back an automobile or a refrigerator 21:09 or a television set 21:11 we're doing very well on this these 21:13 other countries are not doing as well as 21:14 we believe it or not because of the 21:17 domination of the dollar 21:19 well that is coming to an end as you 21:20 mentioned a moment ago people are losing 21:22 that respect and that Revere of the 21:25 american dollar some countries have even 21:27 said we're not going to use them anymore 21:28 and countries like China and Russia are 21:31 maneuvering to try and replace the 21:34 central point international exchange to 21:37 replace America's dominant position and 21:40 that could happen almost any time and 21:42 when it happens eventually it will 21:43 happen then all those old euro dollars 21:47 will come flooding back to the United 21:50 States and all of the money supply here 21:53 will suddenly there had quickly double 21:56 quadruple and even more and all of a 21:59 sudden that deferred inflationary effect 22:01 that we enjoyed by being able to send 22:04 our money overseas will come back to us 22:07 and they'll come back and they'll buy 22:08 anything that they can with those 22:11 dollars that by up real estate that by 22:13 abstraction bonds up by a politician's 22:15 anything that's for sale and the 22:18 inflation effect that was deferred will 22:20 be upon 22:21 that would be the end of the line when 22:24 the dollars virtually equal zero 22:27 purchasing power whenever that happens 22:30 all those dollars come flooding back at 22:32 do you envision because you've written 22:34 about this in your book about war and 22:36 how central bankers love war it would 22:38 seem like that would be the knee-jerk 22:40 reaction or the first reaction would be 22:42 to provoke a war even if it requires a 22:45 false-flag do you see war between the US 22:48 and the inevitable regimen of 21st 22:51 century China do you see war unfolding 22:54 due to this crash of the dollar between 22:56 those two you know I have to be very 22:59 honest on this one I don't see it but I 23:02 I don't mark it off the landscape either 23:05 it's just that I don't know which way 23:07 they'll go i do know that it's a 23:08 definite possibility 23:10 I what you just said is absolutely 23:12 correct that and ish is an old stratagem 23:16 to I think Machiavelli made it very 23:18 clear in his book called the to the 23:20 French and he said you know when things 23:22 get tough at home if you want to get the 23:24 attention of the citizens away from 23:27 what's going on at home you just get 23:29 involved in a war and it works all the 23:32 time and that's certainly been a modern 23:35 stratagem we know it's going on right 23:37 now it's a matter of fact we've got Wars 23:39 everywhere you looked at and it the 23:41 minute you start criticizing anything 23:43 that your government is doing you're 23:45 accused of being unpatriotic our is 23:48 George Bush would say you have to choose 23:50 side to side are you on 23:52 you know and that's the end of 23:53 discussion so that's the value of war in 23:56 it were your supposed to look at your 23:58 leaders with with great respect and 24:00 reverence there the leader and if we 24:03 don't have a great leader then we lose 24:04 the war and we lose everything and so 24:07 for this is psychological game and I 24:10 don't know that it's going to get any 24:12 worse I know what's going on now but 24:14 near question is very profound Jerry 24:16 would it be an all-out war that would 24:19 you know involved weapons of mass 24:21 destruction and all that sort of thing I 24:23 do not exclude that as a possibility but 24:26 i cannot say for sure that I see it as a 24:29 necessary and absolute foregone event 24:33 but I do worry even more 24:35 more about a false flag operation i 24:38 think that that is more likely and even 24:42 that I don't see but i think it's even 24:44 more likely than an all-out war 24:46 you're listening to the voice of geogrid 24:48 Griffin he has written the tour de force 24:50 in monetary economics for those who want 24:53 to understand the Federal Reserve it's 24:55 an old book it's been around since 1994 24:57 but it's in its fifth edition 24:59 30 second printing the creature from 25:00 jekyll island if you don't have a copy 25:03 be sure to pick up a copy in our 25:04 concluding moments and in fact why don't 25:06 you tell the folks where they can get a 25:08 copy of course 25:09 amazon but it'sit's hear about your 25:11 website and also talk to me about what 25:14 we were talking about off the air 25:16 it's a brand new red pill expose 25:19 something you're putting together with 25:20 the Freedom Force international 25:21 organization that you've been running 25:23 now for a long time 25:24 tell us about what's coming and some of 25:26 the exciting things you were telling me 25:27 off the year 25:28 well thanks for that Jerry yet first of 25:31 the book absolutely you can get them get 25:33 the book at amazon i can get it online 25:36 in many places that a lot of bookstores 25:38 are carrying it now which kinda pleases 25:42 me more than you can imagine not only a 25:44 pleasant to know that book stores carry 25:45 your book but i think back in the early 25:48 days when I've tried to interest book 25:50 stories and carrying it and they weren't 25:52 interested because we were small 25:53 publishing company you know they they 25:55 don't have time for that and that and so 25:58 we just stop promoting it but it 26:00 happened over the years that people were 26:02 walking into the stores and asking for 26:04 the book 26:05 unbeknownst to us first thing you know 26:07 they said hey we got you know 244 26:10 request for this book last week and this 26:12 week we got 340 or whatever it is and 26:16 suddenly they were calling and asking as 26:18 to send the book so I thought that was 26:21 very of your sort of pleasant and by the 26:24 way I have to tell you it's the 40th 26:25 edition now so that is a big mark big 26:29 market out there for door stops and that 26:32 very very happy to see that develop but 26:36 anyway yeah the best place to order the 26:38 book would be we think is from us 26:41 of course we have a an online bookstore 26:44 and is called reality zone as reality 26:46 zone.com 26:48 and we have about a hundred different 26:49 informational products their books 26:52 recordings and that sort of thing and 26:53 creature from jekyll island is prominent 26:56 among them so that's reality zone.com 26:58 now freedom force international that's 27:01 my life right now Jerry I decided you 27:03 know I've talked about problems problems 27:06 all my life since i've been involved in 27:08 this battle since nineteen sixty 27:10 actually and back 2002 we decided to do 27:17 something about it and start focusing on 27:19 solutions so we created an organization 27:21 called freedom force international and i 27:26 hope if anybody wants to know about what 27:28 we think the solution is they'll go to 27:31 the website and look us up 27:33 that's a long name but it's easy to 27:34 remember freedom force international 27:37 dot-org for organization and there's 27:41 plenty of their to read and basically 27:42 the story that is there is that we have 27:47 must recover control of our own 27:49 political systems and we cannot do that 27:53 unless we have political power political 27:57 and social power that one of the 28:00 problems is that people like me 28:02 especially in my younger years i would 28:04 go around preaching against power power 28:07 corrupts i would say i would quote Lord 28:09 Acton so eloquently i would say power 28:12 corrupts and absolute power corrupts 28:14 absolutely 28:16 it kind of rolls off the tongue you know 28:17 and it's a true statement 28:19 it's so true that power is a corrupting 28:22 thing and you can't trust human beings 28:23 to be with the way you thought they were 28:27 if you give them too much power because 28:28 it's corrupt individuals so how can I 28:32 used to preach against the power that 28:33 but we must not have power because it 28:36 corrupts and then one morning all about 28:39 2002 I woke up in the morning I guess 28:43 I've been thinking about this now 28:44 remember it very clearly because you're 28:46 suddenly I was sitting up in bed and I 28:49 was saying out loud because my wife Pat 28:51 what did you say I said we lose haha I 28:56 and she said what are you talking about 28:58 i said oh well i'll explain in the 29:01 morning when I was 29:02 talking about is that yes power corrupts 29:05 it is very dangerous but if you don't 29:07 have it you can't win 29:09 it's like it's like guns and I'll now 29:11 guns are dangerous people get 29:13 accidentally killed with guns they get 29:15 shot on purpose with guns guns are 29:17 extremely dangerous having guns is 29:19 dangerous 29:20 the only thing more dangerous than 29:22 having guns is not having them you say 29:25 that comes a point where you have to 29:27 realize that there are certain things 29:29 that are dangerous but if you back away 29:32 from them completely it's even it's even 29:34 worse and so as long as we do not have 29:37 political power we can never take the 29:41 power away from these individuals that 29:43 now have it and are pushing us in the 29:45 wrong direction they're going to let go 29:46 of that are they like it just fine and 29:49 so the issue now becomes how do we 29:52 acquire this dangerous thing called 29:54 power and at the same time create 29:57 mechanisms and devices so that the 30:00 people involved can watch their leaders 30:03 like hawks and put in place rules and 30:07 regulations and formulas and things like 30:09 that and monitoring structures so that 30:12 those people who are stepping out of 30:15 line and who are appearing to be 30:17 corrupted by it are easily replaced by 30:19 those who are watching that was 30:21 something that never been tried before 30:23 it's just been left open to to society 30:25 to take care of but it occurred to me 30:27 that if we created at the same time a 30:30 structure that could reach for this 30:31 power and take political power away from 30:34 these guys that are now running the show 30:36 but the same time create a 30:38 self-regulating mechanism that could 30:41 prevent our own leaders from going in 30:43 the wrong direction never been tried 30:44 before maybe it won't work but I think 30:46 it's time to try it so that was the 30:48 basis behind the idea of freedom force 30:51 international so much more about it but 30:53 that was one of the unique features and 30:55 so we've got this organization in place 30:58 and it was formed in 2002 and its 31:00 international we now have members and I 31:02 think it's 78 countries so it's really 31:05 growing this problem is all around the 31:07 world not just here and so we've been 31:10 growing and learning and building and 31:12 getting great people into the leadership 31:14 levels and now all of 31:15 a sudden were at a place where we have 31:17 are about to do something really big and 31:20 the first project we have taken on is 31:22 called the red pill expo well now we 31:26 could have taken the formula of so many 31:28 other groups in the past and said okay 31:30 we're patriotic organization and we're 31:32 standing for freedom 31:33 come learn about freedom you know well 31:35 that's good accepted it you know people 31:38 have been doing that for a long time and 31:40 it doesn't sound very interesting to 31:43 report some of us with sounds very 31:45 interesting but we're not interested to 31:47 the ones who are in the choir 31:48 we're looking for the people we want to 31:50 bring into the Congregation for the 31:51 first time so we thought that the red 31:54 pill allegory based on that very popular 31:57 movie called The Matrix might be 31:59 something that would sound a little 32:00 entertaining and it also carries a 32:02 profound message you know in the matrix 32:05 that there's a people that humans are 32:07 finding themselves the living in a world 32:09 of illusion they think they're doing 32:11 certain things but they're really not 32:13 they're just completely slaves are 32:15 captives are part of a huge matrix is a 32:18 and it false intelligence artificial 32:20 intelligence system and they're dreaming 32:22 about living and working and you know 32:25 working for a living having a family and 32:27 going to church and all as a recreation 32:29 and playing games but they're not really 32:31 they're just dreaming about it 32:33 second the reality is that they're just 32:35 being a used by the matrix so we thought 32:39 we would use that as the allegory 32:41 because so many fields that we find 32:43 ourselves concerned about like wars and 32:46 healthcare and monetary systems and all 32:50 of that sort of thing people are in a 32:52 dream they think it's one way but it's 32:54 not really at all that way it's 32:56 completely different and so we thought 32:58 we would use that as the umbrella to 33:00 bring together all of the groups and 33:02 individuals who have taken a red pill of 33:05 one kind or another and they now see the 33:07 reality and they want to help others see 33:09 the the reality and break out of the 33:11 allusion to provide this umbrella for 33:15 everybody to come together and not only 33:17 talk about their story and their vision 33:20 their concept of reality but to realize 33:23 that there's a certain commonality 33:25 between them and all of the others who 33:27 there or are there on different 33:29 issues and that commonality is that none 33:32 of these illusions could exist unless 33:35 there was I monopoly involved unless 33:39 there was a beer forced to accept the 33:41 illusion or under penalty of prison or 33:43 debt that the government gets involved 33:46 take for example money that's our field 33:48 we were talking about that now that we 33:50 have to use these federal reserve notes 33:52 don't we have to because of a law the 33:55 law says you have to use that money or 33:58 you go to prison for what if we didn't 34:00 have to use it you know what if we were 34:03 free to use alternative currencies 34:05 government wouldn't allow allow that 34:07 because then you wouldn't use their 34:09 false money so that's why they have the 34:11 law so fortunate to use their money and 34:13 the same thing with healthcare you have 34:16 to use only certain approved medications 34:19 and treatments because the government 34:21 says what that's the only stuff that 34:22 works that you use anything else it's 34:24 quackery and you'll be violating the law 34:26 and everywhere you look you find that 34:29 somehow at these totalitarians in their 34:32 own fields have gotten hold of the 34:34 government and they got their buddies in 34:36 the Congress to pass laws to give them 34:39 monopolistic control in the marketplace 34:42 and that deny freedom of choice to the 34:45 consumer and that is the fundamental 34:47 thing you find it almost all of these 34:49 red pill blue pill options out there and 34:52 I think once people realize that they'll 34:54 realize that this is the common solution 34:56 to all of their problems and that is to 34:59 restore freedom of choice into the 35:02 marketplace and so that's just a short 35:04 explanation of what we're planning to do 35:06 so we call it the red pill expo and 35:09 where this week we're going to choose a 35:12 location it will probably be either las 35:14 vegas or somewhere in Texas maybe in 35:17 Austin but I anybody listening that is 35:19 was to know more about it please look it 35:21 up on the internet the web page is up 35:24 there the earlier information is already 35:26 up there read Phil expo dot org and the 35:30 dates will be november 11 through 13 35:32 i'll be there 35:34 Lord Monckton will be there we just 35:36 found out from England is one of the 35:38 great opponents of this global warming 35:41 illusion 35:42 myth he's a fantastic person on that 35:45 field is internationally famous ty 35:48 bollinger will be there will be talking 35:50 about the myth of Orthodox cancer 35:54 therapies I'll be there I'll be talking 35:55 about the illusion of money and anyway 35:58 we're just beginning to build our 36:00 speaker list and I think you'll be very 36:01 impressed by it anyway that's the short 36:03 version of the red pill expo and thanks 36:05 for asking Jerry I hope that you'll be 36:07 able to come 36:08 oh why thank you so much i sure do 36:10 appreciate your insights today has been 36:11 very very helpful for those who want to 36:13 get a hold of you they can go to your 36:15 website reality zone let us reaffirm 36:16 those again reality zone.com and also 36:20 you gave out freedom force international 36:22 dot org and then also in red pill expo 36:26 dotwork so quite a few websites there 36:28 you can check out in your free time 36:30 thank you again so much for coming on 36:32 the program with a cord well thank you 36:34 my pleasure and thanks for inviting town 36:37 what was the longest mind protection 36:40 gear on and maybe that's a good analogy 36:43 so for the student coming out of school 36:45 I would not recommend going out and 36:48 playing in the big markets against the 36:50 big players you might dabble a little 36:52 bit and learn as you go 36:54 now for the person who is sort of in the 36:56 middle of life are approaching the 36:57 retirement years this i don't know this 36:59 it doesn't sound to me like a very smart 37:02 thing to do i'm in that category 37:04 I'm one of those people that are trying 37:06 to put away investigators you know I i 37:09 figure the day may come when I may not 37:11 be able to get out there and and and 37:12 play that football game as hard as I 37:14 used to 37:15 so I'm looking for the shaft landing and 37:17 people who maybe don't have the aptitude 37:20 to be competitive and aggressive and all 37:22 about in the marketplace ought to be 37:25 thinking about that position earlier in 37:27 life so there's no there's no single 37:30 answer that pitch to everyone and I 37:32 think as long as it is we understand 37:34 that the economy is as we think about is 37:38 going in my view at least is going to 37:40 crash and you better get whatever plan 37:43 you have you better have that event 37:46 pretty well included in your plan in 37:48 your contingency what happens then 37:51 and what happens when you can no longer 37:54 rely on 37:56 frenchie and you're practically at a 37:57 near Barbara's stage or and this is even 38:00 worse or you have to depend on the 38:02 government for literally everything you 38:04 know what happens then 38:06 do you have any way to protect yourself 38:08 from becoming that sort of a surf in the 38:11 system and sure the year lords and 38:13 masters who are giving you your the 38:15 benefits of food clothing shelter 38:16 medical care education all these things 38:19 if you don't want to wind up like that 38:21 you better be thinking in terms of 38:23 putting something away that has lasting 38:26 purchasing power other than dollars and 38:30 so that's that's my answer and I think 38:32 everybody should have that ultimate view 38:34 in mind no matter if they want to play 38:36 the aggressive game meanwhile they ought 38:38 to be thinking about the end of the game 38:40 listen to the voice of G Edward Griffin 38:42 he is the author of the best-selling 38:44 book very influential book the creature 38:47 from jekyll island a second look at the 38:49 Federal Reserve is now in its fifth 38:51 edition in 30 second printing and I want 38:54 to talk to you about the upcoming red 38:56 pill expo want to talk about that in a 38:58 moment but before we do let's switch 39:00 gears just for a minute and talk about 39:02 this crash that you're referring to i 39:06 would assume for having read your book 39:08 knowing you're having you on this 39:09 program several times i'm guessing that 39:12 you're talking about the day that the 39:13 Fed loses credibility 39:15 let's talk about how that may unfold we 39:18 saw recently with the 911 story you've 39:22 been hammering the 911 story for some 39:24 time and then we saw the Saudi Arabia 39:28 coming to the crosshairs the kingdom of 39:30 saudi arabia came into the crosshairs 39:31 they've been in the mainstream media 39:33 lately the petro dollar system now 39:35 influx were suddenly seeing all of the 39:38 stuff that we haven't seen bantered 39:40 about in the mainstream press with Saudi 39:43 Arabia all a certain fixed level would 39:46 be devastating to the profit margins of 39:48 the banking industry because that would 39:50 restrict their inventory would restrict 39:52 their their ability to make loans and 39:55 that sort of thing show that now getting 39:58 to the short answer to your question 39:59 yeah they're going to continue to expand 40:02 the money supply and they'll always do 40:04 that as long as they exist i'm curious 40:07 as you look at the overall economy you 40:09 also have this book as we've talked 40:12 about the creature from jekyll island 40:13 that she wrote many years ago and all of 40:16 this stuff is unfolding all of this 40:18 stuff is beginning to unfold we saw in 40:20 2008 we saw the lead up to it before 40:23 2008 you called it in your chapter 40:25 bailout is the name of the game 40:28 I mean you've been talking about this 40:30 and it's interesting how people have 40:32 responded you have people like a mutual 40:35 friend of ours 40:35 robert kiyosaki he's a friend of the 40:37 show he really adores your work and what 40:40 he tapped into was he understood what 40:42 you were saying and he said ok I get the 40:45 fact that everything is debt so i'm 40:47 going to go out and i'm going to 40:48 leverage the debt for my benefit 40:52 so he actually learned how to use the 40:53 system for his benefit knowing that the 40:56 system is going to eventually implode 40:59 because it's unsustainable i'm curious 41:02 how you approach it you always have 41:04 people on both sides so you have robert 41:06 kiyosaki who is taking your information 41:08 is is mesmerized by it and strongly 41:10 believes in it and he has reacted to it 41:12 in this way then you have other people 41:14 who read your book and they go out and 41:17 they buy gold and they put it underneath 41:18 the ground and they say you know I don't 41:20 know what to do i'm worried how here's 41:22 my question to you had how have you 41:24 responded personally from the knowledge 41:27 that you know what end of the spectrum 41:29 have you been on your own personal 41:31 investments and how do you and what 41:33 advice would you have of course you're 41:35 not a financial advisor but think about 41:37 that 18 year old kid who's just getting 41:38 out of high school he doesn't know of 41:41 course he should read your book but he 41:42 doesn't know much of that information 41:44 what would you tell somebody who's 41:45 coming out of high school 41:47 how should they prepare for a debt-based 41:49 world and what have you done to protect 41:51 yourself 41:52 well first of all I'd like to respond to 41:54 Robert Kiyosaki's analysis of the 41:57 situation and his model of how to deal 41:59 with it i really don't disagree with 42:01 that it and it may sound like that 42:02 contradictory but I think we have to 42:04 understand 42:05 Robert is not talking about going into 42:08 debt for consumption purposes he's not 42:11 saying going into debt buy a bigger 42:13 house or a yacht or take a trip around 42:15 the world or anything like that he is 42:17 specifically looking at real estate 42:19 investments and you 42:20 look at other types of investments but 42:22 is it happens to be real estate and he's 42:26 simply saying that it 42:27 inflation is going to happen because of 42:30 this debt cycle that i was talking about 42:32 earlier the expansion of the money 42:34 supply then for business purposes not 42:37 for personal purposes but for business 42:39 purposes and creating cash flow he say 42:42 let's take advantage of that while it 42:44 lasts 42:45 we know it's all going to hand it in a 42:47 horrible spot but right now we can 42:49 either stand at it look at it with 42:51 horror on our faces or we can try and 42:53 manipulate it and jump in and take 42:55 advantage of it and make some money 42:57 along the way and that's what his basic 42:59 plan is but however when he says money 43:02 we have to be very careful because 43:04 several definitions of money in one of 43:07 his really good lines is you know but 43:10 you shouldn't work for money you should 43:11 put money to work for you and it's kind 43:13 of a tricky thing in it is right but the 43:15 point is that when when Robert makes his 43:18 cash flow and it comes in and all of a 43:21 sudden he has more dollars at the end of 43:23 the month and he did at the beginning of 43:24 the month 43:25 what does he do with those extra federal 43:27 reserve notes 43:28 well lot to me to a large extent will 43:30 turn around and put it back into the 43:31 system again and parlay that process but 43:34 to a another extent he will take it and 43:36 buy gold now that is real money or if 43:40 you insist let's say it's a different 43:41 form of money 43:42 it's a more reliable desirable form of 43:44 money perhaps but anyway so Robert is 43:47 not opposed to money it's just that but 43:49 he says money he's talking about federal 43:51 reserve notes or fed or fiat money 43:53 currency that is not backed by anything 43:55 but Robert is a strong believer of gold 43:58 and silver and that sort of thing which 44:00 is the ultimate money so we have to 44:02 understand he's not ready to talking 44:04 about something different than what I am 44:06 and I would advocate that anybody who 44:09 has the aptitude and the business 44:11 ability the personality that drive that 44:14 perspective the education the background 44:17 the knowledge did pursue investments of 44:20 that kind putting money into an 44:22 expanding currency system that they 44:24 should do it because it would be to 44:26 their benefit but not everybody is in 44:28 that category and face it Robert isn't a 44:31 genius at that and the people who do 44:33 this 44:34 their lives learning and practicing and 44:36 studying and following the changes that 44:38 are constantly going on so it's not for 44:41 everyone and that's my point for now for 44:43 the student coming out of school 44:45 it's not ready for that yet if you 44:47 better get an education 44:49 he better study the real estate market 44:50 or whatever market is into if he wants 44:53 to go into minerals or or whatever it is 44:56 art or anything that you have to become 44:58 an expert so it takes a lot of 44:59 experience and knowledge before you can 45:02 start to play the game because in an 45:04 expanding economy 45:05 yeah it is easy to make a profit because 45:07 it you know prices are always going up 45:09 you can buy now and she'll later it at 45:12 higher prices not because the value went 45:14 up because the the dollar went down so 45:17 it's easy just to look like you're 45:18 making a profit in such a the economy 45:20 but it they all those economies also 45:23 have tips you know they're they're 45:25 volatile they go up up up and then down 45:27 then up up down up down down up down and 45:30 it did not really careful when you don't 45:33 really understand what you're doing you 45:35 could be wiped out in one of those dips 45:36 so it's a dangerous game and you have 45:39 it's not a bad game I mean any real 45:41 games football is a dangerous game 45:43 we've got a lot of people to play 45:44 football and so forth so I'm not saying 45:47 you shouldn't play football but you 45:48 better know how to play football if 45:50 you're going to go out in the field and 45:51 play against professionals and you 45:53 better have the right that was made into 45:55 law with that great accomplishment 45:58 brilliant accomplishment on their part 46:00 now that means that all Americans must 46:02 comply with a private banking cartel or 46:05 Elsa they'll be violating the law which 46:07 means that go to prison and so since the 46:10 for everybody knows that if you go to 46:12 prison for not doing something they 46:14 assume therefore that's the government 46:16 that's behind it you know you get half 46:18 credit for that 46:19 it's a private institutions a banking 46:21 cartel but they enlisted the power of 46:23 government to enforce their edicts so 46:26 now we have president we have this 46:28 monster this creature in place and is 46:30 designed to serve the interests of the 46:32 banks and it's not that even though they 46:35 talked a lot about you know protecting 46:37 the economy and and controlling 46:39 inflation and encouraging employment and 46:42 all these good things that they have to 46:43 say in order to make it sound like they 46:45 really give a hope about the people 46:47 that they say those things but in when 46:49 you follow what they actually do 46:50 everything they do is to enhance the 46:53 power of the prestige and the profit 46:54 margins of the banking institutions 46:57 because that's the kind of a creature it 46:59 is it's a banking cartel 47:01 so now what does that mean in terms of 47:04 what we can look forward to in the 47:05 future all a banking cartel can do all 47:09 that ever wants to do for its own 47:11 interest of course is to expand the 47:13 money supply to expand the money supply 47:15 is the solution to all problems as far 47:17 as the banks are concerned because she'd 47:20 the money supply is the inventory of the 47:22 banks and banks make money well in two 47:25 ways they actually manufactured but that 47:27 they don't make money by manufacturing 47:29 and they can't just printed and then 47:31 spend it what they do is they printed 47:33 and blended it doesn't really go into 47:36 circulation until somebody steps up to 47:38 the bank window and says hey we want to 47:40 borrow some money 47:41 well if the bank has plenty of money to 47:44 lend an unlimited supply of money to 47:46 lend 47:47 well that's that's good that means they 47:48 can lower interest rates and because you 47:52 know you if you're making money out of 47:54 literally nothing manufacturing and out 47:56 of nothing you don't have to charge a 47:58 lot of the Trish to show a profit and 48:01 that's why they like to be at this power 48:03 of being able to create money to land 48:05 rather than having to solicit depositors 48:09 to deposit money into the banks 48:11 it's the banks were limited to only what 48:13 the depositors put into the bank's 48:15 didn't have a lot less money to lend a 48:18 lot less money that land and they only 48:21 make money by lending money so you can 48:23 see right away what the self-interest is 48:25 there and having what they like to call 48:26 an elastic money supply is because they 48:30 can just create the money and lend it 48:32 lower the interest rates move the 48:33 interest rates to whatever level it 48:35 needs to be to get the customers to come 48:37 in and borrow and pay that interest so 48:40 knowing that that's the nature of the 48:42 beast and it's easy to predict I think 48:45 to predict what is going to happen 48:47 they're going to have a QE 4 5 6 7 48:50 that's all they know how to do anything 48:52 else that they were to do like either 48:55 restricted retract the money supply or 48:58 restricted to 49:03 [Music] 49:06 alright well our next guest needs very 49:08 little introduction he is the author of 49:10 the best-selling book the creature from 49:12 jekyll island a second look at the 49:14 federal reserve now in its fifth edition 49:18 and 30 second printing his name 49:21 the author is G Edward Griffin and it's 49:24 great to have you back on follow the 49:25 money radio well thank you i appreciate 49:28 your inviting me back 49:30 absolutely what we've had you on now 49:31 several times we spent time mainly in 49:34 the past delving into your book a 49:37 creature from jekyll island a second 49:39 look at the Federal Reserve this book it 49:42 has impacted so many people including 49:44 myself 49:46 it is a book as you've described in the 49:48 past on this podcast as a really good 49:51 doorstop because it's so thick but at 49:54 the same time it is filled with 49:56 information that at the time was 49:59 probably very difficult to write because 50:02 you are breaking new ground relying upon 50:04 very little as compared to what we have 50:07 today and today of course 50:09 everywhere I go now and I'm anytime I 50:11 hear a story about the Fed or anytime 50:13 i'm seeing some sort of online 50:15 discussion board about the Fed there you 50:17 are and they're your book is because at 50:20 you have made a massive impact in the 50:23 world of monetary economics here in the 50:25 United States i'm really curious as we 50:27 get started 50:28 just give us your general finger on the 50:30 pulse take of what you think about 2016 50:34 the chances for qe4 are we going to see 50:37 rate i just talked about the Fed for a 50:39 moment 50:39 well sure that's a little unusual for me 50:42 because usually we started you know 50:43 historically at the other end and come 50:45 up to the present but i like the idea of 50:48 starting with the present because that's 50:49 where the action is of course but it 50:52 makes it a little difficult to make my 50:55 ideas sound rational if we don't 50:57 understand a little bit about the Fed 50:59 but nevertheless that the risk so let's 51:01 test here we go with it 51:03 my idea about where we're headed with 51:05 the chances for qe4 and that sort of 51:07 thing is that we have no other place to 51:10 go because the old saying is you can't 51:13 get the spots off of the leopard federal 51:17 reserve system is a creature 51:19 and it's designed to do a certain thing 51:21 and only that thing it's a cartel jump 51:25 back a little bit of history and make 51:27 sure that our listeners understand that 51:29 we're not talking about a government 51:30 agency 51:31 we're not talking about an institution 51:34 that is responsive to the political 51:36 patterns of the day or the political 51:39 opinions are the pressures is completely 51:41 independent it's a cartel no different 51:44 than a banana cartel or oil cartel 51:46 happens to be a banking cartel and it 51:49 was given the authority of government 51:52 coercion back in nineteen thirteen when 51:55 the federal reserve the act was passed 51:57 into law all of a sudden this cartel 51:59 agreement between the banks for their 52:02 own regulation







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