today is the sixteenth of november two thousand and sixteen i'm talking to mess with who is pulling the little political action committee and this is being done on behalf of general welfare percent we are eight days after the election and the media is trying out to create the impression that it was the f i that caused hillary clinton to lose the election nothing could be further from the truth there is a global process occurring in the world the control of the population using fear of terrorism fear of russia fear of china fear of mexican's fear of drug  traffickers fear of terrorists that whole system of control this collapsing the population has had it with the establishment but it's not the establishment as such it is the everything and the deal action itself is just one aspect of this global process you're seeing it in britain with the press that you're seeing it in europe you're seeing it in third world countries which are breaking with the control and joining russia and china transpacific partnership you're seeing a global transformation taking place governed by the sense that the way the world has been working is not does not work something different has to occur and that's something different is coming in in the form of massive economic development for the world now the united states currently or up until now has been in the grips of funds that should be put into real economy are tied up in speculation and so forth but the chinese are doing that the russians aren't doing that anymore and other nations are doing that anymore and they're coming in with a new system now all we are eyes of the world on donald trump the improbable the spectacularly improbable winner of the presidential race what is he going to do morning to change u s policy with respect to the world or is he going to drive the united states into a headlong war to bail out the banking system or to have a long war with russia and china in order to assert supremacy of this corrupt completely degenerate criminal system on the world is he going to do that this is good question now donald trump made serious promises to the american people one he promised millions of jobs building rebuilding america's interest however the plans that have been put forward that we have seen by some of the billionaires associated with him like wilbur ross plants are based upon providing a tax break a tax on credit to people bringing their money into the investment and and then on the basis of that tax credit and and and the investment of these people this will be used as leverage to borrow under four percent a trillion dollars worth of credit from around the world for these infrastructure programs now this is a problem because the actress rate is still still lower than the profit made from speculation and  if they were to raise the if they were to raise the interest rates with all the speculation going on it would do it it would destroy the speculation but you would have to have glass steagall in place to be able to deal with that so then donald trump did promise glass steagall and glass steagall he hasn't said anything said that promise in charlotte north carolina but that's going to have to be done and then the other question is what are these different how of these infrastructure is integrated right now it looks like there's just going to be everybody competing for their for their spec project it's not going to be integrated for a actual development of the whole nation in  the context of the whole world so this is why it's so important that these development of the redevelopment of the united states be connected with the development of the world being led by china's one belt one role because if you're not connecting t then then you can't really create the level approach of economic growth and economic productivity and the productivity and labor required to support to sustain the society and  also to make good the debt that is being created so what what we have in the financial community and what we have in political community and what we have in the policy committee is unfortunately a lack of understanding of the methods and concepts that are to founding of the united states in the founding of its of its of of its existence as a nation and those concepts are derived from alexander hamilton and there are four reports that he did the first report is on public credit the second report is on the national bank the third report is on the constitutionality of the national bank and the four freeport are is on the development of manufactures deedes for reports together to find the principles of any silent economic policy for any nation and any time in history and also for the world as a whole these four reports are in are profoundly revolutionary and  represent an incredible genius in this individual who understood how a nation is to be developed and how the finances of a nation are to be integrated where the debt of the nation which is to be integrated with the development of the nation now i'm going to be doing a series of three of the east today i'm going to do the report on public credit the next episode will be on the national bank and the third episode will be on the development of manufacturers but these all come together as a  so this report was written in seventy nine it was the first report that how milton wrote to the congress making proposals which were later adopted by the congress on how to deal with the crisis  of the of the of the debt of the united states which was incurred during the war and that some of that debt was incurred by the continental congress some of that debt was incurred by the individual states and depending upon the fortunes of the war the value of this debt was fluctuating  very low when the fortunes were were or were were low and better when the fortunes were better but once the revolutionary war was finished you had all this debt in these different categories you had a foreign debt those foreigners who had purchased these continentals and then you had the states they had their own debt that they did on behalf of the states and then you had the domestic continentals and all of this debt was actually its value was fluctuating with respect to the perception or the speculation on that d and what hamilton proposed was to take the entire debt all of it and consolidated and fund it at the face value of the debt conceived in all cases was considerably more than the actual market value of the debt and a lot of people said no no no no the people who encouraged that debt then later sold the debt for almost nothing and then other people have the debt and are holding to debt and they bought it at a much lower rate than the actual face value of the debt you should be giving them the full value of the d and that fluctuation is tying up credit specie into speculation that could be used productively and economy if you were establish and fundis debt and make it secure the fact that you made it secure matt there was no longer the basis for speculating on the debt and then that would free up an incredible amount of of of of specie currency for for the actual productive part of the economy for commercial activity for whatever number one number two if this bed is very secure it can be used for collateral for loans from the local banks to issue  becomes and a noisy for investment in other words it's secure it provides a certain interest rates rate and it's not fluctuating it's it's very attractive as an investment and the income from the debt is also part of the economic activity of the nation by assuming all the debt unifies the nation and thus you don't have the various states come haven't different laws in different situations on how to pay back the debt and all of this stuff now have the debt two thirds be funded at six percent reorganize and funded at six percent now the actual interest would be paid on on two thirds and one third would be could be converted into purchasing public lands ok so you could get a land part of it now it was  debt two thirds would go would be paid at six percent and then the other would be planned and the idea was that this would be funded debt but what i t the government would have it was up to the government to decide when to extinguish the debt then there was another one where it was at four percent for the whole thing there was another one which is kind of an annuity system work depending upon the age of the person assuming the debt and who are the people that it would be take over that take over and get paid after the person died and so for the song there was another one that was designed to be attractive to foreign investors and to anybody with a specie was that if you put in half the specie and half that debt you got a six percent return so if you had extra specie available that was doing nothing you could put them you could be you could mix that half and half and you could get a new id of six percent which is higher than what was being given in europe and then the europeans what would what would do the same thing a lot of the capital of europe with them come in to buy the debt to get the annuity and we're providing massive specie for the for the for the for the for the treasury or for them for the nation and it would this would be very secure because of the productive potential in the untapped resources of of the united states now and but this was not it was not meant to extinguish the debt i mean they didn't want to extinguish the debt they wanted to to provide interest payments or annuities for those holding the debt which made the debt very precious because now you have something that's bringing in an income and that income is key isn't better than what you can get otherwise and it's more secure than anything else and that debt can also be used as the basis for for credit from the from the local banks so by doing this in unifying this on a national basis are and creating this kind of security this actually he said would ca loring of the interest rates generally in the society and it would and the process our security which is the problem the number one problem is the insecurity of the debt  insecurity of the nation the insecurity of the finances of a nation which cause for speculation and the speculation is what price up the credit this is brilliant it's simple but it's bri now let's let's fast forward to the current situation what has happened we got rid of the secure system and now we have it is secure system and you're secure system benefits  benefits the speculators is it benefiting our country not prior to one thousand nine hundred seventy one seventy five percent of our currency transactions in and out of the of dollars were for trade for real things at a fixed exchange rate what is it now were secure secure fix exchange rate was and now it's fluctuated probably less than one percent of all the currency transactions are in and out of  in and out of dollars are for are for actual movement of physical goods so what does that mean it means that the entire system of currencies between nations is completely based on speculation or insecurity that's why the chinese have never converted their domestic currency into floating in the floating of the change because this incident it creates a tremendous insecurity and it ties up all always credit the chinese were building up this huge  storehouse of currency reserves why because they didn't want they wanted to be secure but what are they doing what those currency reserves they're holding them what is russia doing with its currency reserves to home what to protect against the speculators this is exactly what hamilton was going against when he set up the first when he when he set up this idea of  funding the public debt and the way that he set it up is to not have this kind of thing going on where the speculators the money changers have you know the upper hand because of the insecurities our entire on top of that is the same thing is so if the fluctuations in the market in the insecurity which creates the profit at the top of the financial system but the cost is that you tie up all the credit in speculation where you don't have credit to credit that should go to rebuild the country credit this should go to two massively expand production credit if you go to the real economy isn't going to the real economy instead credit is being expanded to sustain the speculation to sustain the financial instruments that are increasingly being used for speculation and this thing has gone into the hyper stratospher so how are you going to deal with that while you obviously have to do glass steagall but the principle that hamilton lays out is that you don't want in security the markets can be valuable in terms of our inefficient distribution of goods that's fine but you don't want currencies and debt to be the taxes and by the expansion of the of the tax base of the society but the debt of but you shouldn't have it that all the treasuries all the currencies the basis for speculation a market has its use but not but not as the basis of the insecurity which creates the basis for speculation which creates the profits for speculation but which tie up the resources the financial resources that should be made available to the nation and essentially the key process in how it turns report on public credit that concept from night seventeen nineteen is still active applicable to today ok and dots and that's very important for you let me give you a sense of just how insane the current situation is relative to what alexander hamilton laid out in this report on public credit you have central banks not national banks which will get into in the next the central banks of the various countries especially the major countries as well as some of the other countries what's their primary function they have to intervene into the marketplace to try to stabilize and maintain the really devalues relative  values of the currencies so one of the central banks doing their purchasing currencies in many cases and selling current they're making interventions this is insane a central bank should not be creating credit to play the casino to try to keep the states the ability in the casino system they should be doing the and that's why you have all these currency reserves now the chinese are ending that and they're now creating systems where they can use dog that reserve for funds but there's even more important things than this this instability is what governs the system and to maintain that instability is the basis of the system so how do they maintain that instability financial warfare attacking countries george soros is the typical example are financial speculators punishing countries if they don't go along by having their currencies destroy is it keeps countries from being able to make long term plans for development because it's not stable there is no stability and the powers are run to system don't want any stability they don't want  to stabilize the world economy based upon debt this being used to create physical activity which is funded by the increase of their physical activity not they don't want that they are opposed to that they've been spending the last thirty years trying to get the chinese to float their currencies so that the chinese be brought into the casino and they would have to then expand all their effort to try to prop maintain their currency on the international system the chinese every fuse to do that they made moves in and restricted moves and how their currency could be use internationally yes the i m f has now included the chinese currency as a reserve currency but the chinese have understood you don't you don't allow you've got to have stability stability in starts with a properly funded debt and with a is the opposite principle laid out in hamilton's report on public credit we see the exact opposite has occurred internationally especially since the f t the end of the bretton woods system now f d r was a hamiltonian and he set up the f off the post war fixed exchange system to prevent that sort of thing but to create a stable system work where you could you could have the credit as generated in each country could be put to work and a real productive economy going so this is like fundamental and this is the very concept that i'm describing to you is not properly understood and not properly understood in the sense of how to apply it i mean some people i mean i'm sure of the bankers understand this but it's a question of how do you apply that in this situation but you're going to have to but you're going to have to do two other things you're going to need to have a national bank and you're going to need to have a commitment to true to the development of manufactures and these will be the subjects of my of the next two episodes