good evening and welcome very much a conversation from please welcome to the program once again for the second time now in the conversation series mr charles woods and mr wood is the democratic candidate for the presidency of united states here in the election year  ninety two and charles woods once again welcome very very much a conversation charles not mr ok all right aren't likely to call charles all right charles welcome very much the congress i hate to be here ok i wonder if we might he's probably not as well known as he ought to be and is going to become i would predict but i want to maybe you could share a little bit of your own background charles i know you come out of alabama really we share little of your own background and then maybe we could move right along and get into some of these issues of substance that you are only now you know i've been fortunate because we're allowed television stations radio stations and you had a successful business career despite the difficulties and the difficulties that you had if i made the difficulties that you had which is more and beyond what most of us and also for the attitude you've been able positive attitude you've been able to carry along with that and then of course for your business career which did very well you went became a builder and then you build up your five television stations and you became a television person a person that owns and operates television stations and very successful in your own right yes well that's that's all to the good indeed you as a businessman also then you've also become interested in public affairs because they intrude world or even i guess use that one time as a flyer you realize these political decisions are affecting people in a very real and direct way and we should all become aware we should be very hollow should be very interested in politics and they're one of us do what  you know are try to get as people go vote be a candidate just do what we can of the remains in the hands of our office one of the things right now unfortunately that's happening is our government right now is not a hands for our people anymore speak o recent decent bill moyers is understating and the discontent is beginning to be kind of the way here in the united states where we may have in a certain sense the shell of a political democracy everyone can vote we have very much of an economic the new york times front page they had an article and they had gone back to the one nine hundred seventy seven through eighty nine they took twelve years they adjusted for inflation in the figures are amazing after tax income one percent of the families of the united states had sixty percent of the total income gain during that twelve year period one percent and that's on top of all the all the advantages that had come in in that period right have lost income during that twelve years again i should say very very damaging as far as washington concern in washington politics concern but it's because you just simply shows that the rich are remember back to mr roosevelt's days in back in the days of the great depression and other times there was a populism the rich get rich and the poor get poorer and there were songs that over a longer haul the system has done this is tend to do it been to the advantage of those who have the well it's been building up over a long period of time it's a quantitative change or is it a new qualitative change that we begin to see in terms of this disparity of wealth and influence and ultimately political power  bankers and i like at controlling here in the in the big crash and in roseville he put in some changes for example one of the things he did he put in the graduated income tax which basically said those who are best able to pay they pay that's been deteriorating down to similar situation like we had in the great depression vast amounts creating a vast amount of money employed people homeless people people that had a good medicare people without proper food and we can't continue like this we we must have some decisive change in washington these band aid proposals that are being proposed right now by administration in my opinion yes won't get the job done yeah president bush's idea for stalling paying your income tax now you get it later and there's problem has been the us foreign aid giveaways billions and billions of dollars just given to the semi's foreign countries a lot of it's found its way in the pockets of the politicians all right although the loss of jobs to foreign countries you take them to japanese for example here when president bush went over there few months ago i think they said that they would increase their quota of american automobiles up to twenty four thousand i don't know what it was before that it seems like was twenty but i'm sure that point hike right now the figures i saw the day was we import a million two hundred thousand cars and they were look look at all the jobs we give the you know that should be here jobs united states so we must take some steps equal trade agreements protective tariffs whatever to work we protect american jobs we've got to start thinking about our people here home that's one thing got to also we've got to change our tax structure that we're bad it favors the working people and gets way from favoring the rich is what we've got now and also we've got to have a major change in our banking system because i think as you and i have talked before our federal reserve system is its so called fetters or system should be called bankers or system because it is owned by the banks and it's no more party united states government in general motors or ford motor company is party united states government the words are central banking system right now is owned by the private banks the very industry that disposed to regulate they only use twelve private federal reserve banks around the country yeah i think probably most people don't really know you are very few people would understand it and yet this is an institution the benefit of a constitutional amendment which meant it was illegal to start with because you cannot legally i'm in the constitution lets you have a constitutional amendment who by the voters they turn this right over to the bankers the bankers they went out and  in the language of the farmer they made hay they divided the united states up into twelve districts they incorporated a private private means for profit in each one of these districts you can own stock in it i can stock in it the only people who can actually institutions banks are the only ones that can own stock in this private bank like here in new york you have the call vendors or bank of new york it should be called a banker sir because federal the bank serves in this district they own the stock of this bank or that would mean in a certain sense that we have a congress and we have a political process that is supposed to represent the people that would mean that the people as a whole and the on that at all none in your view no it's a fact you see no no they'd like to call them sales the independent federal reserve system or what's independent about being told by the very industrious post to regulate i mean you know they not independent at all now they are independent of any control from the voters as they can tell us to go jump in a lake they but no they are not invented as such but in a way so that and as if their ability to restrict i'm not talking about replacement courage in here for old bills and things like that i know when new currency is freed up that money is deposited in the treasure that country where used to be in this country right now our government printing presses print up something like over ten billion dollars of new currency cheer if that money was deposited are united states treasury work should be and would be if the central banking system was in our central government where it was placed by our constitution that would be ten billion dollars less money into our tracery which would mean that ten billion dollars would be used to pay the bills of the treasure we have which would be ten billion dollars less money taxes less income taxes that would need to get out the taxpayers united states so that they don't put it in there we're going to get it by taxing the people bill in times past thousand dollar bills and ten thousand dollar bills course they don't print those up anymore because of their drug use you know but right now to this to dis today that these federal reserve bank reserve system just today they'll take three scenes and they'll buy a hundred dollar bill with the united states treasury receipts they will turn right around and they will in that money out through the private this country that are sort of this country they're going to get seven dollars a half this year return on a three cent investment this is a twenty five thousand percent return on their money now when they lend it out the private sector they get much higher rates and seven half percent so they'll get more than a twenty five percent twenty five thousand percent return they are see right now and they still got two hundred dollars and yet they get that twenty five thousand percent return on its recent investment now that particular banks it's hard to get them taken think about what i've just told you was a little bit like asking the fox to talk about the conditions that inside that's exactly right like we talk about for right now we have a system whereby the central banking system is owned by the private banks including the capital stock and surplus start there in an income derived derives therefrom shall be exempt from federal state and local taxation except taxes upon real estate they just state that no no i believe i believe you they say that but what i'm saying is how it was just influence that they had that they were able to get such an advantageous situation sounds like a gigantic overworked recall of the american people it is and it has tremendous implications it's the biggest rip all this ever occurred in the history of mankind and birch nobody does anything about it for example we have an i trust laws in this country yes if something a station operator gets together with his competitor cross tree fixed price gasoline in the united states just within minutes yet over twelve thousand other commercial banks united states followed suit not one ever doesn't follow suit they all follow suit within minutes sounds a little like a  reserve bank in atlanta georgia he must be new it had been very very well he said the toils federal reserve district of banks are private corporations owned by the member banks just what i told you a minute ago they're private and see you you would like to call it the private banking in that that's right ok so so that's the way it is right now in so this is one of the reasons why that we've had such high interest rates mis country sometimes going up as high as twenty one and a half twenty two and a half percent some like it twenty one i think the past prime rate on  private entity that we have the fed the federal reserve ointment the federal reserve maybe you could spell that because this is an important question isn't in that particular important terms of your presidential campaign because the far as i know you're the only person who is really delving into this members and frankly i think they defenders are bankers private i think they do this to do with the people that they've got some kind of control like the federal reserve board they sit they are the seven members and they have a what's called an open market committee the open market committee is one that acts as sets interest rates and loan reserve requirements and money supplies and all these things incredibly important o a secret secret i used to be for something like seventy years i think they wanted to avoid being sued or something like that but there was a kind of a net so now they keep their meeting secret for ninety days but do not ninety days the people that are in the know they can make hay while the sunshines because if you knew that in straits going to go up or down or that money is going to be tight and you know pretty well how the stock market is going to go and futures in the s and commodities market you can make a lot of money william greider wrote a book called the secrets of the temple exactly how the road is something how the federal reserve board or the federal reserve runs the country he was right most ninety nine point nine percent of the people in this country probably have no knowledge or understanding of the importance of that mr gratton knew what he's talking about his first in my opinion is rated man he was forty years i believe in washington with the washington post he is yeah he saw what was going on giveaways to the foreign countries letting other countries have our jobs and keeping our jobs in our country these banks have been making a field day with all the money they make and not painting contacts on it is just bring our country down economically i mean we're we're just every day the roads are going down down down we creating a vast army of unemployed people don't have adequate care if people don't have adequate food oh yeah yeah and it is building to a crescendo of mass support popular support discontent with the contents of the conditions in this in this country is being seen in the campaigns of many many people yourself jerry brown mr buchanan mr pros coming in but i want to come back to those but i want to follow through on this if i may with this federal reserve business if i may you've also said some of your literature that some of the things that could happen if there were reforms of the federal reserve and some of the the the assets that are contained within that federal reserve system if they could be adequately utilized could have a profound effect as far as our deficit is concerned and it could have profound effects in terms of the economy and this is a good underscoring the fact punctuating the fact we should say perhaps is that we the people have no democratic control over these conditions by which business is to be conducted you know that first as a businessman also does and says not because these decisions affect everyday life there but i like that that idea of the assets that who understood at work and you know he was able to twist the arms so to speak of the fairer system and the words i don't know what he said to them you may have said hey congress created law it changed you in congress can't can  congress made a lot of crazy you congress can change the law the grade you know well that was his threat of what whatever it was during his entire administration he had been straight they brought him down flat all the way through which shows you what a strong president who understood the  people start slow down their buying some businesses go bankrupt people who let out of work they have to go on unemployment compensation or other welfare benefits food stamps is that and they become a drain on the government say  right now to me i say this is listen let's keep a strong economy in the way you keep a strong economy is good low interest rates and ample money supply then we can once we have a strong economy with full employment then we can worry about inflation because if a man's got a job he can cope with he or she is a case of maybe i should say a person's got a job they could cope with the rising prices you take a person's job away from them they could cope with virtually got congress to vote simply do nothing in the world except put our central banking system back in the answer our central government where is placed by our constitution the congress is then going to have a major responsibility over that major issue that is that exactly exactly now then in the congress well that they're going to say that they will they're going to say we want to have some responsible people who are free from the heat of passion a little bit moment in order to guide the ship right that they will say and we are the best ones to do it we bankers in a democracy to me everything in the congress is a political football back and forth all right health care what is a bit of a football and something as important as interest rates and dollar which business can be done or do you know when the interest in england where they have the interim government in the biggest thing is that our officials would be answerable to people whereas the bankers right now their answer to no one except themselves the one who owning trolling right now now they and they would say what could happen yes what could happen is when four hundred billion dollars deficit overnight that's amazing that's amazing and i know it has you know now i don't want to put you on the spot but the assets as you say amounts to we don't know exactly how much of it in a body that many men do so many times of years primarily from the working people of this country with their high interest rates and everything they've been charge and that's where those profits are and they've never paid income tax on them and so they're they're they're in that those banks there's hundreds of billions of dollars in there and what are they there for what is it was the rationale what are they there for what is their purpose what are they serving what is this what is this because it could be in the order of multibillion dollars that are in it all and what is the price of their ok right now their insurance or what we know when you say no right now the private banks around the country they can borrow a tremendous amounts of money from the federal reserve system in a sphere the better that goes and the they can borrow more money to lend out the people in play not to foreign countries and that sort of thing so so that money that's in there now we could take a portion of that and wipe out the federal deficit overnight but now are you going to lose if you do that if i may and i'm just asking as a layman now and i'm not a businessman as you know but if you were to do that are you going to lose that window that they can go to and over with all day long overdue all because you go understand what i'm saying because you've got plenty of money there is still a of the you besides the four hundred ilian money to the private banks in order in order to pursue this as a presidential candidate or it could be brought up as a it could be brought up the issue could be brought up mr gonzales or somebody could bring that up within the congress certainly you would have to you would have to  group good deal of popular support for this because you would be coming up against some mighty mighty mighty powerful interests of the slip how american banking association and a number of other people who have an interest in the way things is here but look at it this way if elections if we if this if this idea knows that is a major idea because it affects all the terms of trade and business an industry and all of the citizenry and it's virtually unspoken in terms of the public dialogue and in the united states if this were harnessed to a to the mass discontent that there is obvious now the series bill moyers is doing on public television the report of the philadelphia inquirer which shows that there's something fundamentally wrong with in this country and there's a wide populous discontent with the way things are in this country i mean if i could be tied as an issue to one of the major contributing factors to the in a quote equality that exists the economic concentration of power the cutting out of the mass of the people from the access to a decent standard of living that this is one major contributor to that that's a powerful political issue that ought to be included within the political dialogue and seems to people and certainly to me it is and it should be the major factor not thinkable can will be if i was making a prediction i would say that next year after elections are over now that the federal reserve system would be the hottest news and so and in a stay are the facts are they are well it's coming out again in the there is this mass discontent which is coming to a you know unprecedented i think almost at least since the thirty's i think perhaps since the depression people there's a deep seated sense of disquietude with the way things are and there's a sense that that there's something fun to and structurally wrong that this is one of the things that could address that i wonder as a presidential candidate again you were talking another issues this is a major want to one that ought to be brought up others are we have in general a society that is economically we said earlier we have a political democracy each person over what eighteen i think has a vote that they can vote yes fifty percent of the people don't even vote right now in presidential elections it keeps dropping seven percent voted in our primary or new york city or new york state less and less interest in the political process because they feel outside of that and that it's all becoming as mr grider showed in his piece the other day it's all becoming the business of america is all becoming the purview of a few elite people at the top that have control of and ownership of the wealth that is running this economy and what vast numbers of people feel outside and that's a general proposition that we're in that situation an unprecedented way there you have to write let me tell you a recent example  already gone through things along yeah ok the private banks to get in trouble the homes being foreclosed upon the cars being repossessed people losing their jobs bank businesses going bankrupt some of the small banks says that looks like they're going to fold up all the failures and that sort of thing to occur and so they've got to do it or they do it on the backs of the taxpayers look if some banks go broke in these banks the other commercial banks which make a lot of money if they have to pay insurance premiums and the pittance compared to these monies that are involved to bail out these banking industry so amazing is tremendous anger against the savings and loan that's going to cost people thousands of dollars individually they're going to be very into that that happens to writers piece showed that in hundred eighty election they kept it all under the under the under the under the covers or something until after the election and then it is right now he says we may be having the same thing coming up is ninety two election except rather being the savings and loan it's going to be the commercial banks well and here they're going to hit us up again the tax we're going to hit over the they voted for seventy billion here but that's only just maybe the beginning it was started that way it started with a certain amount if i may with the savings and loan so that might be just the a few months before they at they wouldn't appropriate something like four billion dollars from it was budget buster yes indeed what were we in for a billion the budget busting instead the billion dollars won't be budget but that's right and when are the people going to begin to start rising up and righteous wrath against some of the inequities that are existing now they're going to say we have to maintain that banking system we can't runs on the banks right you've heard this and this is what they're going to say it's responsible to the depositors within the banking systems and so on but we won't have runs in the banks you know if it was operated in our central government it would be operated primarily for the benefit of the people instead of being operated for the benefit of the bankers which is yes now this federal reserve system i'm talking about it should be operate for benefit as people  big factor i mean it's growing and growing every day it is growing it doesn't seem to be any of you put as you put these band aid proposals that are put out you know by by the people the you know the republican democratic kind of approach is that they seem not to address those you seem to those are two major things right there that you just touched upon then there's a whole series of positions that you take which generally if i may try to summarize it we have unlimited we don't have unlimited time but in general you think we need to have mr roosevelt used to talk about a new deal we need to have a really invigoration economic democracy is a bushel justice that is some public together or is going to fall apart in anarchy this is a certain to do that this is a general proposition that is the basis of your campaign and is a series of other than progressive income tax and so what but in general we need a mass based support movement and this is why you're running for president in not inform people as much as i can now let's take health care for example health care is built in to the cost of everything you know absolutely ok now health speak of whatsoever now the only way that i know to contain health calls is to lower and contain it is a national health plan and see we're the only major country in a world outside of south africa that does not have a national health plan for all of its citizens including those who cannot afford to pay the cost the passive cost of that make it very and competitive well to me though the defense of person's health is just as important as defense or lie and you know we national health plan health calls could be lower in contained then we wouldn't have the people having to pay a lot more for a quart of milk per row for bray at our for our car because the health cost being built in there and it's in let me give you another bad built in every automobile we produce which means a p p s thanks a lot of they don't buy the car cause it's seven hundred dollars more they are right sure we don't buy that car they don't they don't have jobs also the japanese with their nash have plans they have losing jobs all over general motors had to close plants general motors puts out wonderful products but when they try to sell them overseas they're not going to well it might be just in a general sense man in a general sense your proposition is that we need to address questions of social justice and that there are things that can be done in the name of social justice and you as a businessman who's operated as a businessman can see that these broader scale institution of these broader conditions which would create a social justice also makes the best business fact exactly you know we're just getting real close to there were tried to that's it that's a general position that you have to yes you know anything that helps the consumer person power hits the goban helps businessmen because that consumer working people that they are what they do they buy houses and they back cars and clothes and things like this with their money when they do that that creates jobs in those jobs creates more jobs everybody benefits the government benefits because  long period of time could you have an explosion probable cause is they've been harvested by all these things and that would create jobs in almost overnight not quite overnight almost overnight we would have a strong economy with full f i may is a political candidate well people ought to take attention put he's running for office here for the present united states in one nine hundred ninety two he's got some very very unique ideas that ought to be well understood and picked up on by other people particularly in the press in the general society happy to been able to bring you his perceptions as a present pleasure to welcome to new york city charles a great pleasure to talk to you again thank you for inviting me to my pleasure being here has been your pleasure in the audience to have his perceptions we invite you to meet again next week we'll be coming back again next week that's it for this program once again charles thank you very very much indeed thank you and we say good night and we will see you next week goodnight