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The speaker emphasizes the importance of maintaining confidence in the voluntary tax payment system. They discuss the creation of the Federal Reserve by Congress in 1913 and its role in coining money and regulating its value. The speaker explains that the Federal Reserve is an independent agency, meaning no other government agency can overrule its actions. They state that as long as there is no interference in their decision-making process, the specific relationship between the Federal Reserve chairman and the US president is not significant. The speaker expresses concerns about legislation that would allow the Government Accountability Office (GAO) to audit and make judgments on the Federal Reserve's policy decisions, as it could undermine the independence of the Federal Reserve and destabilize the financial system and the economy.

Before 1913, Americans could veto government spending by not buying bonds. The Federal Reserve Act in 1913 allowed the government to borrow from the Federal Reserve Bank without needing public approval. This created an unlimited credit line, bypassing the people's economic veto power. Now, the government can borrow without collateral, unlike individuals who need collateral to borrow money from a bank.

The Federal Reserve is not a government agency, but a banking cartel disguised as one. Congress gave it enforcement power, making it seem like a government entity. In reality, it's a group of banks that self-regulate by setting industry rules. These rules, passed as the Federal Reserve Act, give the appearance of government authority. If not followed, individuals can face imprisonment. In essence, the Federal Reserve is simply a banking cartel. Translation: The Federal Reserve is a banking cartel that appears to be a government agency but is actually a group of banks regulating themselves.

Did you know about the 12 USC 531 exemption? It's in the US code on house.gov. Effective October 1st, 2023, Federal Reserve Banks, their capital stock, surplus, and income are exempt from federal, state, and local taxes.

The US financial situation has some symptoms that are difficult to diagnose. Many believe the problem is high taxes, and while US taxes are indeed very high, that's not the core issue. The real problem is that even with high taxes, they aren't truly funding the government. Instead, the government is financed by treasury bonds, largely bought by the Federal Reserve. The Fed buys these by printing money, backed by the treasury bonds themselves. Essentially, the government is financed by printing money out of thin air. One might ask, if the government can print unlimited money, why collect taxes at all? The shocking answer is that high taxes exist to maintain the illusion that you are funding the government, which you are actually not.

On this day in 1913, the Federal Reserve Act was signed to stabilize the economy amid frequent financial panics and distrust in banks. President Wilson established the US Federal Reserve as an independent central bank with the authority to print money, adjust interest rates, and set minimum cash requirements for banks. Its purpose is to maintain economic stability, control inflation, and minimize unemployment. Currently, the Fed's actions are closely monitored. To combat record inflation, Fed Chairman Jerome Powell has significantly raised interest rates recently and intends to continue until the inflation issue is resolved.

Federal Reserve notes are not taxable income because they are a debt. The 10.40 bonds were used to support the war effort, and although people invested in them, they were not guaranteed to get their money back. The IRS originated from the alcohol, tobacco, and firearms agency in Puerto Rico and is not part of the US government. By law, we are only supposed to pay taxes to support essential governmental services, but the current system forces us to pay for more than what we actually receive. This is like being forced to pay for 18,000 hamburgers when there are only 19 listed on the menu.

The Federal Reserve, built in 1913 by bankers, controls America's monetary system by printing money and charging interest to the US. It holds stolen gold bars, has ties to the Freemasons, and is heavily guarded. Despite being called the Federal Reserve, it has shareholders who own it, exerting power over people. The speaker questions the purpose of the building and mentions seeking gold from Iraq, Libya, Haiti, and Syria.

In 1913, the American people had direct veto power over federal spending by choosing whether or not to buy government bonds. This system kept government small until the Federal Reserve Act of 1913 created an unlimited credit line for the government to borrow from the Federal Reserve Bank, bypassing the people's economic veto power. This allowed the government to borrow without needing permission from the people, changing the system significantly.

The Federal Reserve, a private bank owned by private stockholders, controls the printing of America's money. They loan money to banks and the government, charging interest and putting the country in debt. The Fed gets its money from the United States Mint, which prints it for them. The Fed's control over the nation's wealth allows them to manipulate the economy and enslave the people through perpetual debt. In 1910, a secret meeting was held to establish a central bank, which would later be called the Federal Reserve. This secretive plan was executed on December 23, 1913, when Congress was mostly absent. The Fed's power to print money and the IRS's ability to collect taxes have resulted in the greatest theft from the American people.

Who owns the Federal Reserve? The speaker says there are banks that own the 12 district Federal Reserve banks, "owned by banks in the sense that they get paid a dividend from what the district banks make up 6%." And then whatever money the bank has, if it's a district bank, whether it be San Francisco or Dallas or Atlanta, then they have to pay the operating costs to operate an individual district bank. "And after that, every single penny that is remaining is remitted to the US Treasury." That is why my email address ended in dot o r g, not dot com because we were a quasi private public enterprise. Jay Powell's email address ends in dot gov. "The Federal Reserve Board in Washington DC is a bonafide formal federal agency that is not owned by the banks."

The Federal Reserve is owned by banks that receive dividends from district banks, with profits remitted to the US Treasury. The New York Fed holds significant power due to its president's permanent vote on the Federal Open Market Committee. While there are conflicts of interest, the Federal Reserve today is seen as lacking in serving Americans' best interests, leaving the country financially vulnerable in times of economic shock. The institution's origins were rooted in the need for a central bank to stabilize the economy, but its current leadership is criticized for potentially harming the nation's financial stability.

In 1910, private bankers like the Rockefellers, Rothschilds, and Morgans met secretly on Jekyll Island to draft legislation for the creation of the Federal Reserve. Interestingly, the same year saw the establishment of the Internal Revenue Service (IRS), which is disguised as a government-owned income system in the US. Surprisingly, if you search for the Federal Reserve in the Washington DC telephone book, you won't find it listed under the government pages but rather in the white pages alongside Federal Express. This reveals that the Federal Reserve is actually a privately owned central bank. Central banks are involved in banking operations.

Jekyll Island was the meeting place in 1910 for representatives from major private banks like the Rockefellers and Rothschilds, who secretly drafted the legislation for the Federal Reserve. Notably, the Federal Reserve was established in 1913, the same year the Internal Revenue Service was created, leading to the implementation of income tax to cover government debts to these bankers. The Federal Reserve operates as a privately owned central bank, despite being perceived as a government entity. In fact, it is listed in the white pages alongside private companies, not in the government section.

The speaker explains that the Federal Reserve is a private bank owned by private stockholders, not the government. They discuss how the Fed loans money to banks and the government, which must be paid back with interest. The speaker questions where the Fed gets its money and reveals that it is printed by the United States Mint. They argue that the Fed's control over printing money is unconstitutional and leads to the devaluation of the dollar. The speaker also mentions a secret meeting in 1910 where the plan for the Federal Reserve was devised. They criticize the creation of the IRS and how taxes are used to pay back the Fed's debts.

In 1913, the Federal Reserve Act gave the US government an unlimited credit line from the Federal Reserve Bank, bypassing the people's veto power. Before this, the government had to get approval from the people by selling bonds. This system kept the government small until 1913 when they could borrow without asking the people, leading to excessive spending.

There is no law requiring payment of taxes in the US. The IRS manual states they have no jurisdiction over US workers, only those abroad. Share this info and challenge the IRS to prove tax obligations.

In 1910, influential figures like the Rockefellers, Rothschilds, and Morgans met secretly on Jekyll Island to draft legislation for the creation of the Federal Reserve. Interestingly, the same year saw the establishment of the Internal Revenue Service and the introduction of income tax, which burdened ordinary citizens with the government's debt. Surprisingly, if you search for the Federal Reserve in the Washington DC telephone book, you won't find it in the government pages but rather in the white pages alongside Federal Express. This reveals that the Federal Reserve is a privately owned central bank. Central banks are involved in banking operations.

Universities receive funding from four main sources. First, federal student loans, which amount to trillions and are growing faster than inflation. Second, federal research funding, where universities often take up to 70% of grants for central use. Third, tax exemptions at the operating level, based on their nonprofit status. Fourth, tax exemptions for endowments, which serve as financial buffers. Analyzing these sources reveals that if federal and state funding were removed, many universities would face bankruptcy, highlighting the need for a potential rebuild of their financial structures.

The Morgan family faced issues with the SEC due to concerns that J.P. Morgan held excessive power. He bailed out America in 1895 and 1907, leading the government to believe that one individual shouldn't wield such influence. Consequently, the Federal Reserve was created, modeled after Europe's Central Bank. However, JPMorgan was not, and still is not, part of the Federal Reserve. The Federal Reserve consists of twelve reserve banks from the United States with elected and selected officials.

The Federal Reserve is the central bank of The United States and even though it acts as an independent agency, it's still part of the federal government. Some people call it the bank for banks. Their goal is to encourage high employment and economic growth while also keeping inflation under control. To accomplish this outcome, the Fed has a number of tools it can use, but one key tool is the control over interest rates, which is the cost of borrowing money. When the Fed raises or lowers interest rate for banks, the rate banks charge consumers for everything including credit cards, auto loans, and home mortgages are affected. If growth is too fast and inflation goes up, the Fed can increase rates so growth can be slowed and stabilized. These decisions, along with other policy choices, are made by 12 leaders within the Fed called the Federal Open Market Committee.

The Federal Reserve is independent, so no other government agency can override its actions. As long as there is no interference from the administration or congress, the relationship between the Fed chair and the president doesn't really matter.

The Federal Reserve is not a government agency, but rather a banking cartel that has the power of government enforcement. They created their own rules and regulations to self-regulate their industry, similar to other cartels like those in bananas, oil, or sugar. They presented these regulations to Congress as the Federal Reserve Act, giving the appearance of a government agency. However, if you don't follow their rules, you can go to prison. In essence, the Federal Reserve is a banking cartel.

The Federal Reserve is not a government agency, but rather a banking cartel that has the power of government enforcement. It operates like other cartels, such as those in the banana, oil, or sugar industries. The banking cartel created rules and regulations for their own industry and presented it to Congress as the Federal Reserve Act. Congress passed it into law, giving the appearance that the Federal Reserve is a government agency. However, failure to comply with their rules can result in imprisonment. In essence, the Federal Reserve is a cartel disguised as a government agency.

Speaker: The Federal Reserve is set to pay $1,100,000,000,000 to major banks, effectively paying them interest on the money that's already in their vaults. A new bill would end it. Last week, Texas Republican senator Ted Cruz introduced a bill to end the Fed's so called interest on reserves program, where the Fed pays interest on the dollars banks are required to deposit with the Fed. So what happens is the Fed prints money to finance federal deficits and artificially boost the economy, both of which generate fat profits on Wall Street. It does this by pushing interest rates below market and with something called quantitative easing where it literally makes up imaginary money, uses it to buy stuff, putting the money into circulation. But the Fed knows that all that money creation also creates inflation. So it turns around and pays those same banks to park some of the new money at the Fed. So it's a giant self licking ice cream cone that siphons nearly $200,000,000,000 a year from everybody who holds dollars. Now up till the two thousand eight crisis, banks did not earn any interest on their reserves. After all, reserves are supposed to be like money in the vault backing deposits. Bankers already had the exorbitant privilege of only needing to keep 10¢ on the dollar in the vault as reserves, with the Fed and Treasury standing ready to bail out the other 90¢ at taxpayer cost. But all that changed in 2008 when banks proved so reckless that they threatened to topple our entire financial system, at which point they were punished by getting interest on their reserves. The scam exploded during COVID. So in 2019, banks were parking about $2,000,000,000,000 at the Fed paying just 0.1% interest. So the Fed was paying banks $2,000,000,000 a year. Five years later, that has grown to 3 and a half trillion paying four and a half percent interest. So that's $187,000,000,000 per year. In fact, these interest payments now make up most of the profits of the entire American banking system. 187,000,000,000 interest versus 270,000,000,000 of bank profits. So 70¢ on the banker dollar siphoned directly out of your life savings with a fat slab going to foreign banks. It is a big club and you ain't in it. Now the Fed claims it needs to pay interest in order to soak up all the dollars the Fed printed. Of course, they don't phrase it that way. Remember, the Fed pretends money printing has nothing to do with inflation. In their world, inflation falls out of the sky caused by greedy workers, greedy supply chains, animal spirits, boats stuck in the Suez, with the Fed heroically jumping in to pay bankers strip club tabs to keep the republic from collapsing. As James Grant put it, the arsonist pretending to be firemen. Sussex brought to you by onchain.com. Ted Cruz's bill probably won't pass since bankers know how campaign donations work. But what if congress stopped paying bankers strip club tabs? In short, roughly a trillion dollars would flow out of reserves and into lending to business and customers. This would lower the interest rate on loans, mortgages, even government debt, and a good chunk would go to creating job. Now I could nudge inflation since the frozen reserves were hiding part of Biden inflation, but then in recent videos, I've mentioned inflation is currently way below the Fed's target, while job growth could certainly use that money better than using it to siphon profits to bankers. Of course, with 70% of Wall Street profits in play, bank lobbyists will be burning up the steak dinners and campaign donations to keep it going. Okay. We'll be watching. See you next time.