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Canada's debt stems from a collusion between the government and private banks. The government borrows money from these banks and repays it with compounded interest, leading to increased taxation on Canadians to cover the growing national debt. This cycle results in inflation, as the government allows banks to create money digitally without actual reserves. Currently, banks have only $4 billion on reserve while having loaned out over $1.5 trillion. This situation raises concerns about financial freedom and the need for change. Remember, a small group of people can indeed change the world, as history has shown.

Inflation is questioned: if it isn't theft, why is counterfeiting illegal, and why do we pay taxes if money can simply be printed? The speaker equates inflation to legal counterfeiting and central banking to a "coordinated currency counterfeiting cartel." Drawing a parallel to alcoholism, the speaker says inflation's initial effects are positive, but the "hangover" comes later. Each crisis requires exponentially more money printing due to increased liabilities. This is considered unsustainable, leading to hyperinflation as central banks continue printing money until the currency becomes worthless.

Speaker 0 describes fractional reserve banking. When you deposit $100, the bank keeps just $10 in reserve and loans out the remaining 90 at interest. That $90 gets deposited into another bank, which keeps 9 and loans out 81 at interest. This cycle repeats and is called fractional reserve banking, a system that legally allows banks to lend or invest 90% of your deposits, effectively circulating new money into the economy. Wealthy investors and big corporations are the first to get access to big loans at low interest rates. With this loan, they buy real estate, stocks and businesses before the money circulates through the broader economy. By the time those funds trickle down to the working class, they have already triggered inflation. The result? The banks collect interest by loaning out money that didn't belong to them. The rich use borrowed capital from the bank to acquire assets that skyrocket in value, easily covering their low interest loans. And the working class are required to pay higher prices for rent and food, because the money supply has expanded, while the number of actual goods are the same. And that's how the rich keep getting rich and the poor become more poor.

The speaker wants viewers to see something important before opening a link. The link is to a Bank of Canada post from February 22, 2022. The post addresses the question of whether the Bank of Canada printed cash to finance the federal government, stating that they didn't. It explains that the Bank of Canada bought existing government bonds from banks on the open market to support and ensure a strong and stable economy during the pandemic. This action was intended to unblock frozen markets and support households, companies, and governments.

Banks create money out of nothing and lend it at interest, a legal form of fraud. The banking lobby blames inflation on high wages and speculation, not on the money creation by banks. This practice leads to economic problems that cannot be solved.

The speaker argues that people should not trust central banks with “yet more power,” saying the answer is a “resounding no.” They claim that the high inflation that began in 2021 was “created by the central banks.” They state that regardless of what central banks say about wars, “the economics is very clear,” and that the speaker could forecast the coming inflation successfully from May 2020 onward. According to the speaker, eighteen months after May 2020, significant inflation would occur because money creation was “just massive off the charts.” The speaker further describes a sequence of events they connect to central banks’ actions. They say the central bank “imposed a fake pandemic,” referring to “that story.” They describe this as involving publicly available records about Jeffrey Epstein. The speaker claims that people like Jeffrey Epstein are “now public record” as being involved “as early as 2017” in setting up a “scheme” connected to this “great pandemic.” They say the scheme was set up “for some investors to make a fortune such as Bill Gates,” and they present this as a matter of public record. The speaker also claims that the plan included ways to “make money injecting people with stuff” and “solve the problem.” They state that Epstein and Bill Gates discussed “how to get rid of the poor people,” again describing it as “matter of public record.” In the speaker’s account, these elements are linked to the use of injections and the alleged intent to remove or eliminate poorer people. Finally, the speaker says that the events described were used “at the same time to push digital ID.” In their narrative, the central bank’s actions and policies are tied together with the alleged pandemic scheme, the alleged financial opportunities for investors, the alleged discussions about eliminating poor people, and the promotion of digital identification systems.

Central bankers met at Jackson Hole in summer 2019 and reviewed a plan from the BlackRock Investment Institute prepared by a group of retired central bankers called the “Going Direct Reset.” The speaker said central banking systems undergo a reset every 80 to 120 years, often involving an evolution of the currency or a move to a different currency, and that this implied a new reset. The “Going Direct” policy was described as a radical change in central bank money creation. Traditionally, when the Federal Reserve added money to the system, it did so by injecting funds into the reserve track, which banks then used to put money into the wider economy. “Going direct” was described as the Fed injecting enormous amounts of money directly without going through the reserve track, including by buying securities from non-depository institutions. After the September meeting, the Federal Reserve announced interventions in the market, and with the announcement of the pandemic, injected extraordinary amounts of money into the system. The speaker referenced estimates of about $5 trillion or $6 trillion injected directly, and said such injections would normally have extraordinary inflationary effects. The speaker cited remarks from a former Under Secretary of the Treasury, speaking with Swiss investors, that enormous inflation was “baked into the cake” but would not be felt right away. The speaker then attributed the delay to pandemic-related actions. The speaker described pandemic measures as creating an “enormous deflationary offset,” including lockdowns, calling certain businesses non-essential, and leaving other businesses open. The speaker said the United States shut down “Main Street,” while publicly traded companies stayed open, shifting market share from small businesses to large businesses, thereby consolidating economic activity. The speaker noted that estimates suggested 35% of small businesses in America were shut down, and that in some places like San Francisco the figure was as high as 49%. The speaker also claimed that the consolidation helped large players spend the injected money, while Main Street faced an economic squeeze. They further said the pandemic period created roughly 500 new billionaires, worldwide or in the United States. From a global financial perspective, the speaker concluded that “much of the pandemic was essentially designed to implement the reset” using health policy as an excuse.

The US government prints its own money, so why borrow in the same currency? Confusion arises from the language and concepts surrounding this. The government prints money and sells bonds to borrow. This process leads to debt and deficit discussions.

The New Zealand Central Bank head admits to creating money out of nothing and people believing it, calling central banking a great business. The speaker highlights the absurdity of this practice, emphasizing how people struggle to afford necessities while banks create money with a keyboard.

Banks create money out of nothing and lend it at interest, which is legal but akin to counterfeiting or cooking the books. The banking lobby avoids changing the system by blaming inflation on high wages or housing speculation, not acknowledging the root cause of money creation by banks.

Speaker 0: So who are the people that actually get to be inflation? Well, they're the ones that are climbing up the network. They're the compromised ones. Why? What do they get? They get 0% money. The most corrupt money in the world is quantitative easing. Right? You essentially get the banks to buy the government's debt, and then central banks, put it on their balance sheet. So this is just pure corruption. This is below interest money. What about the banks? They get to create it for free. You know, they actually get to create it. They get a thousand decks on you you're paying 10%. They get they get to lever that up a 100 times. They get a thousand percent. And remember, this is all a debt based Ponzi scheme. The money to pay the interest doesn't exist, so you gotta find another person to take on the debt. You're either if you have a positive money in your in your bank balance, it's because somebody else is in debt. The money doesn't exist unless somebody else is in debt, and the money to pay the interest doesn't exist. So we create this economic environment where your money is continually being debased, and then you need to speculate in order to beat inflation. Now if you do a bit of speculation and you just invest some of your money in stocks, what happens? You're suddenly like, I don't know what stock to buy. I'm I'm not a professional trader. So there's a company out there, BlackRock, that will just buy all the stocks for me, and I just can give them a £100 a month or something. And, now I don't need to figure out what stock to buy. Okay. So now BlackRock is taking everyone's investment money that can't be bothered to figure out what stock through ETFs and index ones. Then they're taking everyone's pension. Then they're taking everyone's insurance contributions because you're trying to hedge some of the risk. And then when you get your house, you have to have insurance. And so where did BlackRock and all the asset managers in this financial industrial complex get all the money? It's your money. You paid for it. So then what do they do? Well, the banks create all of these. They they create new money every time they issue a mortgage. And then they say, do you know what? I don't even wanna take the risk of these mortgages anymore. What if can I just package it up and give it to someone else? So Larry Fink says, yeah. I've got all this money. All these people are putting these pension money in. Why don't we create something called a mortgage backed security? Let's package up all of these mortgages. Just put them into one product. And then what I can do is we can slap a credit rating on it. And if everyone complies, then they get this credit rating. Credit rating is not it's about compliance with the network. So now you've got all the banks are creating the money, and then they create these mortgage backed securities that allows them to control effectively all the real estate and transfer it. But who do they sell it to? They sell it to you. And so they created the money. They created the mortgage backed security, and then they sold it to your pension. So you paid for the very system for them to get the 0% money in the first place, and they're charging a fee for it. And what else do they get? They get a board seat on every company.

The speaker discusses the concept of money and its creation by bankers, particularly in the Federal Reserve System. They highlight that money has no inherent value and that printing different denominations costs the same. The speaker argues that bankers can create vast amounts of wealth for themselves by printing money, unlike other industries that have profit limits. They explain how reducing the money supply can lead to a depression and reference the Great Depression as an example. The speaker also mentions how the bankers caused the stock market and bank collapses during that time. They assert that World War 2 ended the Great Depression and that the same banks that previously refused money suddenly provided it. The speaker claims that wealthy bankers manipulate the economy by creating recessions, depressions, inflations, and panics. They mention JPMorgan and the Rothschild family's involvement in establishing a central bank, and how they caused the first major panic in 1893.

The Treasury issues IOUs in the form of bonds. Banks buy these bonds with currency. The Federal Reserve then writes its own IOUs, or checks, and gives them to banks in exchange for the Treasury bonds. This process creates currency. Essentially, the Federal Reserve and the Treasury swap IOUs, using banks as intermediaries to create currency. This process enriches the banks and increases public debt by raising the national debt. The end result is an accumulation of bonds at the Federal Reserve.

The speaker argues that central banks should not be given more power, asserting that the answer is a resounding no. They claim that the high inflation beginning in 2021 was created by central banks, regardless of any explanations about wars, and assert that the economics are clear. The speaker states they could forecast from May 2020 onwards that eighteen months later there would be significant inflation because the money creation was “massive off the charts.” They allege that central banks “imposed a fake pandemic,” referencing a conspiracy-like claim about a manufactured crisis. The speaker asserts that people such as Jeffrey Epstein are part of this narrative and that Epstein, in public records, was involved as early as 2017 in “setting up the scheme of this great pandemic for some investors to make a fortune,” naming Bill Gates as an example. The statement continues, claiming that “we can also make money injecting people with stuff and solve the problem” as discussed by Epstein and Bill Gates, and characterizes this as a matter of public record about how to “get rid of the poor people.” Finally, the speaker contends that this was used “at the same time to push digital ID.”

The US government prints its own money, so why borrow in the same currency? Confusing language aside, the government sells bonds to borrow money. Despite the confusion, it's clear the government prints money and borrows, leading to debt and deficits.

Dilution occurs when you add more of something to an existing quantity, reducing its value. For example, printing $5 trillion dilutes the value of money, meaning that if someone earns minimum wage, their purchasing power decreases in real terms. This dilution is a primary cause of inflation. While specific price increases can be attributed to factors like feed costs or geopolitical events, the simultaneous rise in prices across the board suggests a broader issue. Other countries have also printed money, which may have mitigated the impact on the dollar. However, as we approach the debt limit, the reluctance to print more money stems from its detrimental effects on the economy.

Speaker 0 said the U.S. does not need a central bank and does not need the central bank “we have.” He argued that even without a central bank, a circulating currency is still required, meaning someone must issue it, but issuance should not be unlimited and should not involve unlimited currency swaps to foreign countries. He discussed the Federal Reserve’s balance sheet, noting that its first item on the asset side is “a gold certificate,” which he described as a public document. He said the gold certificate dates to 1934, when the Treasury gave the Fed gold certificates after confiscating the Fed’s gold, and he stated that the gold is now owned by the Treasury. He added that the gold certificate is valued at $42 an ounce and claimed there is approximately $1 trillion of “hidden value” in that line item, based on the difference between the market price of gold and the book value on the Fed’s books. He said an audit should be done and highlighted the idea of “a $1 trillion hidden asset” on the first line item. Speaker 0 also addressed “money printing” and the Fed’s ability to buy government bonds in unlimited quantities. He referenced the First Bank of the United States under Alexander Hamilton in 1796, describing it as not being allowed to lend to the U.S. government, not bearing resemblance to a modern central bank, and instead being allowed to lend to commerce while serving as a depository for Treasury assets and a place for the Treasury to store assets. He contrasted this with models that should not include printing money or using unlimited lending to solve problems. He cited Steve Hanke, a Professor at Johns Hopkins, as an expert on currency boards for currency stability, and said to use that approach without doing anything else. His overall conclusion was: “So no, the short answer is no, we don’t need a Fed.”

Speaker Jared Bernstein at the White House explains that the US government prints money and then uses that money to sell bonds, which is how it borrows. He emphasizes that the government definitely prints money and definitely lends that money by selling bonds, so the government prints money and then lends it by selling bonds. He acknowledges that some of the language around this topic—and the concepts—can be unnecessarily confusing, particularly the terms used in Modern Monetary Theory (MMT), but he insists there is no question that the government prints money and uses that money to lend by selling bonds. He repeats the sequence: the government prints money, and they use that money to sell bonds and borrow. He admits confusion, saying, “I’m just I don’t I can’t really talk,” but reiterates the basic point: the government clearly prints money, and it clearly borrows, otherwise the debt and deficit conversations wouldn’t exist. Speaker 1 continues by trying to clarify the mechanics in simple terms: the government prints money and then uses that money to sell bonds, which is how borrowing occurs. He repeatedly confirms the process: money is printed, used to issue bonds, and people buy those bonds, providing the funds the government borrows. He notes that sometimes the language and concepts can be confusing, but the core idea remains that money is printed and bonds are sold to lend that money to the government. Speaker 3 then poses a meta-question, asking whether conventional economists truly understand what is being discussed or if they do not understand the topic at all, suggesting skepticism about whether mainstream economic understanding aligns with the descriptions being given or with the terminology used to discuss these issues. He questions whether conventional economists grasp what is being spoken of, or whether they are not understanding it. Across the exchange, the central mechanism discussed is that the government prints money and uses that money to sell bonds, with bonds being purchased by lenders, thereby financing government borrowing. The speakers acknowledge the potential confusion surrounding the terminology, especially in relation to Modern Monetary Theory, but they maintain that the fundamental process is clear: money creation by the government, followed by borrowing through the sale of bonds. The dialogue concludes with a reflective note from Speaker 3 about the level of understanding among conventional economists regarding these concepts.

The biggest hidden secret of money is that the modern banking system allows a few to plunder many through a scam. Currency is created faster than trees can grow, but most people don't understand how. Modern societies create currency similarly, and the US dollar is the majority of the world's currency, so the United States will be used as an example. It begins when a politician says, "Vote for me."

High taxes in the U.S. are often blamed for financial issues, but the real problem lies in how the government is funded. While taxes are high, they don't truly finance the government. Instead, the government relies on treasury bonds, primarily purchased by the Federal Reserve, which prints money to buy them. This creates an illusion of funding through taxes, but in reality, the government is financed by money printed out of thin air. If people understood this, confidence in the dollar could collapse, leading to severe consequences for Western civilization. Urgent policy changes are needed to prevent a financial crisis similar to past mistakes. There’s still time to act before the situation worsens.

The Federal Reserve's actions are worrisome. They've lost trillions by borrowing money at high rates (5.4% from banks, 5.3% from funds like Fidelity and Vanguard) to buy government bonds. This artificially inflates the government's perceived financial health, encouraging excessive borrowing when rates were low. This process diverts capital from the private sector, hindering business growth and job creation. Instead of the Fed holding massive balances, that money should be used by businesses for expansion and innovation. The Fed's actions are mirrored by other major central banks globally, exacerbating the problem. It's not money printing; it's expensive borrowing that harms the economy. Freeing up these funds would allow banks to lend to small businesses and stimulate economic growth.

Banks don't lend money; they purchase securities. When you sign a loan contract, you're issuing a promissory note, which the bank purchases. This is different from what banks present to the public. You might ask, "How do I get my money?" The bank will say it's in your account. No money is actually transferred. It's already within the bank because a deposit is simply the bank's record of its debt to the public. Now, the bank owes you money, and its record of that debt is what you perceive as money. That's all it is.

The biggest hidden secret of money is that so few plunder so many through the biggest scam in history. The modern banking system creates currency faster than trees can grow. Most people don't understand how currency is created because economists and bankers make it seem too complex. Every modern society creates currency similarly, but the US will be used as an example since the US dollar is the majority of the world's currency. It starts when a politician says vote for me.

Canada is in debt because the government borrows money from private banks with interest, leading to increased taxation. Banks create money out of thin air through loans, causing inflation. Despite having only $4 billion in reserve, they've loaned over $1.5 trillion. This financial system enslaves Canadians. The speaker urges people to unite and make a difference to stop this injustice.