spider the web is actually something that we're all trapped and and what's interesting is that everyone has tapped trapped into not just us as individuals but governments most people think governments issues are money if they issue money why are they  that they don't issue the money it comes from a private banking cartel actually but this goes to the fact that most americans really don't understand american but i can do it now and in fact bankers them south don't necessarily it's certainly at some stage that would be chair but i think now it's been so obscured in the thick kind of misinformation and homes america's money and money that's made by the government is coins but that's that is that congress does the coins and all of the rest including the dollar bills which are what we also think of as money are are issued by banks the dollar bills are issued by the federal reserve but it is actually private composed of twelve branches if you look at your dollar bill you can tell which branch issued that the bill so it's actually issued by the branches all those branches their own by the banks in their district only when the account the amount of money that you want but they don't pull that from anywhere that's just the debit on one side of their bucks and a credit on the other they do it by double entry bookkeeping they only need the deposit when they go to clear the check and then as the check goes out you know they need to balance their books so they have to have as much going out as coming in but they don't really lend the deposit they borrow from that deposit pool but the deposit they're always there when if you the deposit or go into  that right but actually it's good to have so much credit out there i mean when the credit system collapses that's when we have a depression such as we have right now we're we're we're described do you fractional banking system will get paid off so so that is not necessarily inflationary what does inflate the system is one banker speculate they're creating money that they're using for money making money  it's not necessarily a bad system as i will argue everything it would if it were public would be a good system but because it's private and there's this conception that money is a thing like gold the bankers never had enough gold  to create all these loans so they had to fabricate so there's sort of certain fraud and bob so to keep this fried up to keep the ruse that the shell game going the central banks were set up which ever it which had the function of printing money or creating money to backs that the banks but now they're sort of black from doing that as well like look at the e u so soon pro think well there are ways out which and i think we're kind of finding our way to those ways like you look at the year that's an unsustainable system but they are starting to create money because that's where they have to do there has to be that time everyone was afraid of the banks so they were rushing to the banks to pull out their gold well the dollar was forty percent backed by gold so you could take your dollars and if you took two dollars paper dollars standing to two dollars worth of gold out three dollars would have to be called in in the way of loans so it would the money supply was just contract and contracting and so we had a huge depression so in order to stop this american system in other words this is the system that was yeah he wrote about it he didn't actually invent it but he wrote about it as actually the quakers in pennsylvania that developed the best of these models lincoln was faced with you serious interest rates in order to fund the civil war and in fact there is some evidence that the russia bankers were it that they actually stimulated this war in order to attract economies back and that in order to have economic colonialism where they had last polluted their political colonies so to avoid these very high interest rates he issued us notes or greenbacks and system now you mention rothschild everybody knows that name and what's interesting in your book is that it was a shocker to me i didn't know that rockefeller was so intimate and early american banking along with the help morgan j p morgan in the linked up with the rough shiels brought their first federal reserve bill bennett was called the aisle and he was a relative iraq feller morgan both were funded by the russian i mean there is evidence that they're both funded by the russia bankers so russia other course was jewish and at that time that was that impaired his ability to deal with so so morgan with was a good so lending is a good thing and in fact all of our money comes from from loans virtually all of it and it is a very natural organic system in other words people take out loans when they want to do something build something or whatever and then they pay that as they pay the loan off the money supply contracts again so the money supply expands and contracts naturally in response to the need for credit so that's a good thing the only bad thing about the system is that it's privately owned by bankers pretending to have money they don't have so not only is that bad in the sense that it gives a certain part tell power over the whole money scheme but it's bad for the bankers themselves because they're always getting into trouble i mean historically this system goes back for a thousand years and they've in fact when it when they were really strict about in the italian bankers there is one italian banker who was actually beheaded in front of his bank because he couldn't balances his the that the debt virus theory has been debunked and so their argument is well the bankers put the put the interest back into the system they buy shoes and they buy food and they spend like everybody else they spend their profits but the problem is they don't it's the one percent versus the ninety nine percent thing they reinvest their profits they have far more money than they can spend and so not counting this issue this mathematical issue you've got to have an expanding debt in order to pay the interest they put their money into investments so instead of saying here is my dollar give me some food they say here is my dollar give it back to me with interest or give it back to me with more profit it's not really just interest it's the interest for the principle it's never prudent so it depends on further one system where the government itself is able to print money they can print the interest so they can put some debt free money into the system to cover the interest but a bank can't because all their money goes out there as debt bearing i mean interest bearing that what we know in the house rules is clear but everybody's basis of the national economy were already be at the point where we can afford the interest but in fact that's why interest rates have been dropped so they're down to like zero point two percent at the fed for the fed funds rate they're almost nothing and they have to hold them ridiculous lee because the federal debt has grown by fifty percent since this banking collapse but you could service the debt i mean if you borrowed from your own central bank interest free then you then it doesn't really matter the size of the debt you just keep rolling o this whole system supposedly it developed or one reason it's so big is that big institutional investors don't want to put their money in a bank because they're only insured for two hundred fifty thousand dollars and they have far more than that so they want something that's like a bank they want to be able to pull their money out daily so that's the whole report market where it's like a big punch out where they say i'll give you money my money for a day and you give me those mortgage  securities and you have to give me back my money tomorrow if i want it and that's what happened in two thousand and eight that the money market collapsed all the investors panicked and they pulled their money out and want over night so it's a very unstable system it shrank by five trillion suddenly and it's only come up by one trillion and if this continues again this is the paradox of thrift the liquidity crisis or  student debt would be a very nice way to get another trillion dollar and as into the system there is and now a trillion dollars in student debt outstanding when the federal reserve did its quantitative easing one what they did contracts the whole point they gave them dollars so it's so now they didn't have toxic assets on their books they now have dollars on their books so they could lend again theoretically it didn't work obviously and for another reason i think just rip them up and there would be another trillion dollars in the system and the students would basically get free education free higher education which i think we should have been given no not if you're in a deflationary cycle if you used to have if things worked really well when we had five trillion dollars more in the system and we suddenly took that five trillion dollars out we've got to put some more money back in there now the question is how to do it they tried doing it by putting it on the books of the banks and it didn't work because there is still there's still one point six trillion in excess reserves sitting on the books of the wall street banks that not the local banks the local banks can't get it that's the wall street bankers so what if we gave a trillion dollars to the municipal governments or the states it would only take two hundred billion to bail out the the all the states to balance the books of all the states which for these rooms you have to forward them on the way this is the works  well if you trace it back historically there were some key players that set this system up and made it work the way it does but today about don't really understand the system they just they see an opportunity to make money i mean all those people on wall street are just i think that this is a good way to make money to make sure others yeah yeah and they just jump in and do it so they see a hole in the system and they go in and make money off it it's driven by greed appointed i don't see him as somebody who's steaming to pull off something now i could envision that there are people screaming at the bank for international settlements because they have pretty much broken wine economy after another by imposing their rules i mean that the first and most people don't even know what the beggar national symbols know they were kept a low profile for a long time till they decided they wanted a bigger building and they built this boot you know the famous  nobody really knows how much money they have or what they're up to that you couldn't really nail them to to some extent or aren't we really touching on a dicey issue here of classwork the ninety nine percent versus the one percent yeah but to me this solution would be to set up our own system i mean we can't really get them what we need to do is set up a model that works better set up a better mousetrap and then everybody i describe aetate to that line and then when you realize that the t or not too big to fail let them fail we have our own more functional system well that's interesting because i'd like to hear how you would sort the problem we know that there's an inflationary threat here and we need to get the system going yeah and they're threatening to actually put in a military that they like a police force that will enforce this they're going to take over those governments they've they've abandoned their sovereignty because of that  don't for the solution yeah well it would actually it would be stupidity on our our part if we let it happen to us because we do have the power our federal our central bank has a partition money and it should be issuing money and lending it to the government but because we have this whole faction that three fusing to allow to the debt to expand we could we have an artificial us there to being imposed on ourselves that we don't need to impose because exactly because you need a certain amount of money in the system all money comes from debt when private debt shrinks public that has to expand to to fill up the gap so you want the money supply to match the servicing that's the problem if you got rid of the interest and you just allow the debt to expand as we go even more would we get rid of paying interest on it and then we deal with the interest that we have no my growing economy you know what you could do ideally everybody thinks would be inflationary but i would argue it's not is you could print our coin you can do this right now it's changing any last coin the fourteen one trillion dollar coins put them in the treasuries bank account with the fed and just buy back all those bonds and rip them up so so all those all the current bond holders would now have dollars instead of all the bond is a federal bond is coin money and regulate the value there as now the argument the gold bug types a well that means that that just means that you can take your claims to the meant and congress to put the stamp on it that that's what coining money means the other argument is that coins were the official money at that time and they didn't have checks and credit cards and all this stuff so what they meant was congress shall have the power to create the money supply that you have to you have to read that into it to me the current circumstances two hundred years later debt into dollars which is what you recommend and we can regulate all of this the usual engineering we can take back our