Keiser Report: Dollar-Trapped (E186) ... video
Summary from Bill Still
Banks own the money power. We need to take back the money power. Money should serve the public interest. All money today is created as an interest bearing debt. We are literally renting every dollar that we have in circulation with the exception of coin money. It is not what backs the money that is the problem it is who controls the quantity. Federal Reserve is a lie... it not part of the government. The government is not watching over the big banks. Gold is fine as an alternative investment but as a system are liable to fractional reserve banking which does not change the system. Banks cannot control the quantity of money. Banks should be deposits banks and intermediaries between borrowers and lenders. Banks should not be allowed to speculate in the markets. There is a revoving back door between the Fed and the big banks. Banks creating 100% of the money is the problem.
Still is against a gold standard... he proposes a monetary reform act. We need debt free government issued money.
1. eliminate government borrowing.
2. eliminate the ability of the banks to lend money they don't have.
Banks can lend 10 to 12 times the money they actually have that is if they follow the rules.
The 2008 debactle via congressional hearings showed (see below)
Morgan and Citi Bank were leveraged 52 to 1.
Fannie and Freddie were leveraged 72 to 1.
Goldman Sachs were leveraged 331 to 1.
President Obama said about a year ago that we need to eliminate reserve requirements all together in other words 331 to 1 is not sufficient enough. Only infinite will do. A dollar that comes out of the economy is multiplied by the leveraged amount.
The economy will absolutely not come back. We have reached a point 1st time in history called debt saturation only way out is a monetary reform solution.
On Fort Knox - Still believes there is no gold left. 248 million ounces of gold on the U.S books is probably more like zero. A large % was sent to London to keep the price down in the London gold pool. Nixon closed gold window after gold was removed from Fort Knox. Gold was shipped by rail and truck to the Federal Reserve Bank in New York we do not know what % but at least a large % was sent over to London to keep down the price of gold. Ed Dorlain? in 1970s with 11 million of his own dollars demanded Fort Knox open doors... they did... you had the famous picture with Mary Brooks claiming they had the gold. Picture showed #13 smallest gold vault bars looked to have high copper content and not .999 fine gold.
States should study the North Dakota banking model.