R/E/P Community

Please login or register.

Login with username, password and session length
Advanced search  

Pages: [1]   Go Down

Author Topic: Reflections And Warnings - An Interview With Aaron Russo {Full Film}  (Read 870 times)

CHANCE

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 4584


http://www.youtube.com/watch?v=YGAaPjqdbgQ


This link was sent to me by a friend and in the beginning he talks about a club he owned in 1968 and an incident that happened on opening night. It was also the day MLK was killed. I was in the Electric Theater that night and was beat up by the police for no reason.
He also talks about 911. I find it hard to believe his theory on this.

He also raised a question. Why does the US government borrow money from the fed reserve (with interest) when they could print the money themselves just like the fed reserve does.
Logged
Chance Pataki
The Musicians Workshop
musicians.workshop@gte.net
http://www.the-musicians-workshop.com


A person is a biological signal processor--EQ mag

MDM,

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 2305
Re: Reflections And Warnings - An Interview With Aaron Russo {Full Film}
« Reply #1 on: July 03, 2009, 07:43:36 AM »

well, this is why in the constitution it says that money should be coined by the government ONLY.. if you remove interest the only difference is that the government owes no debt to the bank.. the inflation is still there.

they knew that the possibility of a banking entity which would generate currency was very real and that it would reduce the standard of living to zero eventually as the "bankers and the corporations which sorround them" began to inflate and deflate at will.

and to have a separate private entity which works in SECRET to decide interest rates (like the FED also does) is also wrong because the interest rates should be dictated by the market, not by a bunch of individuals.

a situation like this cannot survive for long without falling into the hands of mafia/corruption.. pretty soon interest rates are manipulated and the various boom cycles which this extra credit (cheap and available) creates are exploited on a political and industrial level.

the whole monetary system is not working, and has been entirely constructed not to work..

I mean it works FOR THEM, but it doesn't work for us.

you take away the power from the private banks to create money (and credit through the fractional reserve system) and the whole world would see a gradual return to a higher standard of living.
Logged
I must study politics and war that my sons may have liberty to study mathematics and philosophy .. in order to give their children a right to study painting, poetry and music.
John Adams (1735-1826) 2nd President, United States

Jon Hodgson

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 1854
Re: Reflections And Warnings - An Interview With Aaron Russo {Full Film}
« Reply #2 on: July 03, 2009, 09:18:11 AM »

CHANCE wrote on Wed, 01 July 2009 01:21


He also raised a question. Why does the US government borrow money from the fed reserve (with interest) when they could print the money themselves just like the fed reserve does.


The answer to that is simple, they don't.

It's a complete misunderstanding of how the system works.

The government doesn't borrow money from the Fed, it actually can't, by law, because the government borrows money by selling Treasury Securities, which the Fed is not legally allowed to buy directly from the government.

The Fed does hold government securities, but it bought those through its open market operations, the government does pay the fed interest on those, but

a) They only amount to a fraction of the total debt outstanding.
b) The fed's profits belong to the treasury, for example in 2007 the fed's earnings on treasury securities was 40 billion, they paid 35 billion to the treasury (and let's not get into audits of the fed, I think the treasury would have noticed if those two numbers were wrong).

The creation of currency is a seperate thing, incidentally the fed doesn't print money, the Treasury does, they then sell it to the fed at cost, who then distribute it to bodies that require currency for their transactions at face value, profiting by the difference, which is called seignorage... but then we're back to the point that fed profits are the property of the treasury.

I don't know why people find it so hard to get these details right, they're readily available to anyone who takes time to look. There's plenty of scope for conspiracy theories about the fed without having to ignore the facts to make them work.

Edit: mistyped when I said the fed's profits belonged to the fed!!
Logged

MDM,

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 2305
Re: Reflections And Warnings - An Interview With Aaron Russo {Full Film}
« Reply #3 on: July 03, 2009, 01:07:22 PM »

Jon, it's a cover-up.. you'll have to evaluate whether your sources are worth taking seriously

..far more likely is that History is simply repeating itself.
Logged
I must study politics and war that my sons may have liberty to study mathematics and philosophy .. in order to give their children a right to study painting, poetry and music.
John Adams (1735-1826) 2nd President, United States

Jon Hodgson

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 1854
Re: Reflections And Warnings - An Interview With Aaron Russo {Full Film}
« Reply #4 on: July 03, 2009, 01:35:22 PM »

MDM, wrote on Fri, 03 July 2009 18:07

Jon, it's a cover-up.. you'll have to evaluate whether your sources are worth taking seriously

..far more likely is that History is simply repeating itself.


Oh come on Max.

If you want to theorize that the Fed is full of criminals lining their own pockets, that's one thing, but at least understand the mechanisms by which things work.

The Fed doesn't print money and loan it to the government charging interest on it. That just doesn't happen, because that isn't how the government gets money. Whatever is going on in the fed, the treasury publishes its own accounts, they show what money came into the government, where it came from, and where it was spent, and there isn't an entry on there that says "cash printed by the fed that we borrowed from them", or an entry that says "interest payments on currency notes we borrowed from the fed"

For it to be happening anyway despite the various laws involved would require the involvement not only of the fed, but the treasury too, and the GAO (who don't have limitation on auditing the treasury), and big chunks of congress, probably including your good friend Ron Paul (he'd be sure to have found out about it by now with his interest in economic matters). The same goes for the idea that the Fed benefits greatly from the interest on what debt it does hold, the Treasury can see how much money it paid the fed, it can also see how much money it received from the fed, the fed can't fiddle those figures.

My sources are the law of the united states, published public accounts (mostly cross checkable), academic literature on the mechanisms of government borrowing, fiscal and monetary policy, and other similar sources, I've linked to them often enough... I think the most I've seen you link to are you tube videos and conspiracy websites... I think I know which to take seriously.

The Fed could be staffed from top to bottom by felonious fraudsters and you would STILL be wrong in your theories because you still have no understanding of the systems and mechanisms, which you would need to have any real idea how they might be abused.
Logged
Pages: [1]   Go Up
 

Site Hosted By Ashdown Technologies, Inc.

Page created in 0.064 seconds with 17 queries.