[Kad5]

http://www.youtube.com/watch?v=ZPWH5TlbloU


Has anyone here seen this video? What's your perspective on this?

[Orayn]

Slick animation with good production values, but pushing the Rothschild conspiracy angle so hard really hurts its credibility. It also paints an inaccurate and incomplete picture of fractional reserve banking to further its agenda, but that's to be expected from certain libertarian types.

[cubanb]

Oh cool, totally didn't expect a youtube video based on the thread title

[akachan ningen]

Slick animation with good production values, but pushing the Rothschild conspiracy angle so hard really hurts its credibility. It also paints an inaccurate and incomplete picture of fractional reserve banking to further its agenda, but that's to be expected from certain libertarian types.

pretty much. the sad thing we did to ourselves.

watch this video instead: http://youtu.be/VwcpOithag0

and read taibbi's book.

[phosphor112]

Ehh... I can't stomach watching this. Why can't this be just a ... straight forward video? Without the colors and fictional characters?

[Jimothy]

What is with libertarians and long ass YouTube videos?

[Orayn]

What is with libertarians and long ass YouTube videos?

Argumentum ad nauseam. It works on some people.

[Cameron122]

Laughed my ass off when the Rothschild Serpents appeared. My Step Dad's side are Rothschilds, and well, we don't rule the world.



yet.

[ElectricBlue187]

Laughed my ass off when the Rothschild Serpents appeared. My Step Dad's side are Rothschilds, and well, we don't rule the world. yet.

well you aren't a real Rothschild huh?

[Femmeworth]

Production values are higher than usual for this kind of thing. It must be true!

[ClovingWestbrook]

lol @ Rothschild being used.

DA JEWS DID IT!

[Izayoi]

Most banks are full of crooks, yeah, but specifically mentioning the Rothschilds? Give me a break.

Laughed my ass off when the Rothschild Serpents appeared. My Step Dad's side are Rothschilds, and well, we don't rule the world. yet.

If I offer to be your personal man-slave will you put me up for life?

[Chumly]

Eh I'm not going to waste my time if this is one of those libertarian conspiracy videos. Banks have certainly screwed us over but I'd prefer to discus it more towards reality

[Reuenthal]

Laughed my ass off when the Rothschild Serpents appeared. My Step Dad's side are Rothschilds, and well, we don't rule the world. yet.

It is nice to finally meet one of the rulers of the world. What is your code fellow Illuminati? Tell me, don't be afraid the rest of gaf won't understand what it means.

[jaxword]

This isn't a conspiracy nor is this hidden, everyone already knows corporations own our minds and bodies and always will.

[travisbickle]

Are Libertarians basically Anarchists?

[Femmeworth]

Are Libertarians basically Anarchists?

You do a great disservice to anarchists. Actually anarchism is considered to be on the left end of the spectrum.

[Riggs]

Just watch Collapse with Michael Ruppert you will be depressed all week.

[QuiteWhittle]

Are Libertarians basically Anarchists?

http://en.wikipedia.org/wiki/Anarcho-capitalism

They can be.

[East Lake]

The JFK shit really put it over the top. Hadn't heard that conspiracy before.

As the economic layman I have a question about the gold standard which the video creators seem to think would solve all our problems. What happens to a country that imports more than it exports?

[QuickSilverD]

A very enjoyable short film.

[Orayn]

The JFK shit really put it over the top. Hadn't heard that conspiracy before. As the economic layman I have a question about the gold standard which the video creators seem to think would solve all our problems. What happens to a country that imports more than it exports?

Congratulations, you took the ten seconds needed to think about the disadvantages of basing your currency on a single commodity. It's completely unrealistic for the US to return to the gold standard in this day and age, but that doesn't stop some people from promoting it with evangelistic fervor.

[cubanb]

Congratulations, you took the ten seconds needed to think about the disadvantages of basing your currency on a single commodity. It's completely unrealistic for the US to return to the gold standard in this day and age, but that doesn't stop some people from promoting it with evangelistic fervor.

Ron paul is racist, right?

[timetokill]

You do a great disservice to anarchists. Actually anarchism is considered to be on the left end of the spectrum.

If you're only considering a 2 dimensional spectrum, libertarians would be on both sides of it.

[onken]

Excluding the crazy ass Rothschild conspiracy stuff, how much of it is true? Is the federal reserve privately owned?

[Jado]

Yes, and it's no conspiracy. The Federal Reserve is 100% privately owned. The US president appoints its board of directors, but it's a meaningless gesture -- they're picked from a pool of candidates selected by the Fed itself. Its shareholders are the major US banks and other unknown private individuals and entities (international banks in Germany, France, England, etc.). They answer to no one in Congress although they occasionally ask Bernanke to stop by to answer soft-ball questions or so that they can beg him for more newly printed loans. The Fed is really just another "Bank of the United States," the third or fourth central bank in the country's history of foreign interests gaining a backdoor foothold into the US and controlling the nation's currency.

Ron Paul's Audit the Fed bill recently passed the House, which is huge because it has never been audited in its entire existence. It's expected to be shot down by the Democrats when it reaches the Senate. It makes no sense, but it really clues you into how both parties are easily bought.

I didn't finish watching the rather annoying video, but it mostly seems true so far -- the history of how vaults, money-lending and banking started. If you want a thorough, non-conspiracy history of all this, backed by facts and quoted historical sources, I recommend this book:

http://www.amazon.com/Web-Debt-Ellen...dp/0979560888/

[childplease]

So who is the Supreme Master Leader ?

[Black Mamba]

Yes, and it's no conspiracy. The Federal Reserve is 100% privately owned. The US president appoints its board of directors, but it's a meaningless gesture -- they're picked from a pool of candidates selected by the Fed itself. Its shareholders are the major US banks and other unknown private individuals and entities (international banks in Germany, France, England, etc.). They answer to no one in Congress although they occasionally ask Bernanke to stop by to answer soft-ball questions or so that they can beg him for more newly printed loans. The Fed is really just another "Bank of the United States," the third or fourth central bank in the country's history of foreign interests gaining a backdoor foothold into the US and controlling the nation's currency. Ron Paul's Audit the Fed bill recently passed the House, which is huge because it has never been audited in its entire existence. It's expected to be shot down by the Democrats when it reaches the Senate. It makes no sense, but it really clues you into how both parties are easily bought. I didn't finish watching the rather annoying video, but it mostly seems true so far -- the history of how vaults, money-lending and banking started. If you want a thorough, non-conspiracy history of all this, backed by facts and quoted historical sources, I recommend this book: http://www.amazon.com/Web-Debt-Ellen...dp/0979560888/

Almost everything in this post is factually incorrect.

[Ether_Snake]

Excluding the crazy ass Rothschild conspiracy stuff, how much of it is true? Is the federal reserve privately owned?

It's not "a private company", it is independent in how it runs things, since otherwise politicians would use the Fed for political purposes, putting the US economy at risk.

I like how conspiracy theorists always act like only the US has a central bank.

It's true that it's run like a criminal organization though. Obama's entourage is made up of the same folks that were there when Bush was in power, and that would have been there even if McCain had one, and who will be in there even if Romney wins.

Greenspan, Bernanke, Paulson, Geithner, Larry Summers, etc. All the same gang.

Watch the documentary The Inside Job (narrated by Matt Damon!) if you haven't. It's very good, and it shows how the guys at the White House are transcending party lines for the benefit of the banks.

[Orayn]

Almost everything in this post is factually incorrect.

I like how the neutral, objective book with no agenda has that kind of cover art.

[goomba]

Almost everything in this post is factually incorrect.

Any counter sources?

[mac]

It's funny how if you add a jazzy score, ominous music, and vilify people you can get the public to be interested in economics and civics.


No, wait, it's not funny it's sad.

[phosphor112]

Just watch Collapse with Michael Ruppert you will be depressed all week.

That's a much better video than whatever the hell this crap is. I can't stand these type of videos.

[pigeon]

What blows me away about this stuff is that people can be convinced that evil Jewish elements are controlling America's currency and bringing it to its current state...as the primary reserve currency for the entire world. Are they lulling us into a false sense of security or something?

[Zophar]

Yes, and it's no conspiracy. The Federal Reserve is 100% privately owned. The US president appoints its board of directors, but it's a meaningless gesture -- they're picked from a pool of candidates selected by the Fed itself. Its shareholders are the major US banks and other unknown private individuals and entities (international banks in Germany, France, England, etc.). They answer to no one in Congress although they occasionally ask Bernanke to stop by to answer soft-ball questions or so that they can beg him for more newly printed loans. The Fed is really just another "Bank of the United States," the third or fourth central bank in the country's history of foreign interests gaining a backdoor foothold into the US and controlling the nation's currency. Ron Paul's Audit the Fed bill recently passed the House, which is huge because it has never been audited in its entire existence. It's expected to be shot down by the Democrats when it reaches the Senate. It makes no sense, but it really clues you into how both parties are easily bought. I didn't finish watching the rather annoying video, but it mostly seems true so far -- the history of how vaults, money-lending and banking started. If you want a thorough, non-conspiracy history of all this, backed by facts and quoted historical sources, I recommend this book: http://www.amazon.com/Web-Debt-Ellen...dp/0979560888/

You're precious.

The whole economic libertarian surge over the past few years is one of the most hilarious examples of cognitive dissonance in discourse today. The true, basic viciousness of late-stage capitalism is rearing its ugly head and tearing apart the global economy- the solution? MOAR CAPITALISM

[Orayn]

What blows me away about this stuff is that people can be convinced that evil Jewish elements are controlling America's currency and bringing it to its current state...as the primary reserve currency for the entire world. Are they lulling us into a false sense of security or something?

Anything that isn't evidence of a conspiracy is evidence of a coverup. That's how it works.

[Mully]

I really hate conspiracy videos. They all have pretty good production values. They don't have any intelligence.

[commedieu]

So people are still in denial about the corrupt banking system of the world..? Ahh well.. Not that a thing can be done, they are above the law. But giving people toxic loans that qualified for normal loans, and falsely inflating or deflating their rates, are just what we know of, and those actions are amazingly despicable. These things alone leave no confidence in my eyes with the system. Everything isn't ok, its not business as usual.

Shit its ok to know that we are getting taken advantage of, its ok to know that Goldman Sachs runs the world, it hardly changes anything. But christ, at least stop bending over backwards for bankers.

[pigeon]

So people are still in denial about the corrupt banking system of the world..? Ahh well.. Not that a thing can be done, they are above the law. But giving people toxic loans that qualified for normal loans, and falsely inflating or deflating their rates, are just what we know of, and those actions are amazingly despicable. These things alone leave no confidence in my eyes with the system. Everything isn't ok, its not business as usual.

Never attribute to conspiracy what you can attribute to lots of people individually being unethical dickwads in a similar but uncoordinated fashion.

[iapetus]

Never attribute to conspiracy what you can attribute to lots of people individually being unethical dickwads in a similar but uncoordinated fashion.

I thought lots of people individually being unethical dickwads in a similar but uncoordinated fashion was the ultimate goal of libertarianism?

[Kad5]

To keep the conversation productive some links to article sources regarding what the video talks about would be a nice read if someone wants to throw me in that direction.

[Orayn]

To keep the conversation productive some links to article sources regarding what the video talks about would be a nice read if someone wants to throw me in that direction.

I've got a nice even-handed examination of the Rothschild family and why there are conspiracies surrounding them: http://skeptoid.com/episodes/4311

I thought lots of people individually beingunethical dickwads in a similar but uncoordinated fashion was the ultimate goal of libertarianism?

Truly a better world.

[Kad5]

Truly a better world.

Sounds terrible.

[ClassyPenguin]

One of the best books on the rise of the banking world with none of the conspiracy shit.

Lords of Finance
http://www.amazon.com/Lords-Finance-.../dp/159420182X

With penetrating insights for today, this vital history of the world economic collapse of the late 1920s offers unforgettable portraits of the four men whose personal and professional actions as heads of their respective central banks changed the course of the twentieth century It is commonly believed that the Great Depression that began in 1929 resulted from a confluence of events beyond any one person?s or government?s control. In fact, as Liaquat Ahamed reveals, it was the decisions taken by a small number of central bankers that were the primary cause of the economic meltdown, the effects of which set the stage for World War II and reverberated for decades. In Lords of Finance, we meet the neurotic and enigmatic Montagu Norman of the Bank of England, the xenophobic and suspicious Émile Moreau of the Banque de France, the arrogant yet brilliant Hjalmar Schacht of the Reichsbank, and Benjamin Strong of the Federal Reserve Bank of New York, whose façade of energy and drive masked a deeply wounded and overburdened man. After the First World War, these central bankers attempted to reconstruct the world of international finance. Despite their differences, they were united by a common fear?that the greatest threat to capitalism was inflation? and by a common vision that the solution was to turn back the clock and return the world to the gold standard. For a brief period in the mid-1920s they appeared to have succeeded. The world?s currencies were stabilized and capital began flowing freely across the globe. But beneath the veneer of boom-town prosperity, cracks started to appear in the financial system. The gold standard that all had believed would provide an umbrella of stability proved to be a straitjacket, and the world economy began that terrible downward spiral known as the Great Depression. As yet another period of economic turmoil makes headlines today, the Great Depression and the year 1929 remain the benchmark for true financial mayhem. Offering a new understanding of the global nature of financial crises, Lords of Finance is a potent reminder of the enormous impact that the decisions of central bankers can have, of their fallibility, and of the terrible human consequences that can result when they are wrong.

[C4Lukins]

I like the video, but I do not get how it represents a Libertarian viewpoint. Am I missing something?

[Black Mamba]

Any counter sources?

So let me get this straight. It's my job to discredit the poster's unsubstantiated claims?

That's not how this works.

However, I'll disprove one assertion since I'm not wasting my time with all of it which has been debunked time and again.

The Fed is audited and audited routinely. Not only is it audited internally, but it is also audited by the GAO. Here is the law that gives the GAO that power: http://www.law.cornell.edu/uscode/text/31/714

The GAO has over 100 audits of the Fed. Here are those since 2010: http://www.federalreserve.gov/newsev..._audit_gao.htm

Furthermore, the Fed is audited by independent firms. Price Waterhouse conducts independent audits of the Federal Reserve every year (unless companies were switched) and are even public. For instance, here is an audit by pws in 1996 http://www.federalreserve.gov/boardd...al96/board.pdf

The financial statements of the Board were audited by Price Waterhouse, independent public accountants, for 1996 and 1995.

Price Waterhouse even loves to brag about it:

We have in recent years served as the central bank auditor in 8 of the 10 leading industrial countries¹ with the US Federal Reserve, Bundesbank, Canada, Italy, Switzerland, Netherlands, Russia and the Bank of England as our clients. We recently completed 5 years as the inaugural auditor of the European Central Bank and our recent audit portfolio includes the central banks of Australia, New Zealand, South Africa, Spain, Portugal, Ireland and Turkey, as well as the Bank for International Settlements – the banker to the central banks. Emerging market central banks are as important to us, with clients extending through Central Europe, former Soviet states, into China, Asia and Africa. Our signature is on the audit opinions and Audit Committee reports of more central banks than any other of our competitors. Our Central Bank Advisory Group supports this global client network through audit proposal support, a specific central bank audit methodology, technical IFRS solutions for financial reporting, and a methodology of risk and quality which ensures our local teams deliver the high quality service our clients expect from PwC.

http://www.pwc.com/gx/en/banking-cap...ry-group.jhtml

Now, I think I've done more than enough to debunk one of his factually incorrect statements given that he substantiated nothing at all. I suggest doing some work on your own to learn about the other stuff.

For instance, regarding audits, you could start at the horse's mouth: http://www.federalreserve.gov/faqs/about_12784.htm

[Jado]

Wow, awesome. Links from the Federal Reserve's own website? And "audits" from their good friends at the multi-billion dollar accounting firm? Good stuff, man. Thanks for proving me so wrong.

http://www.zerohedge.com/article/adr...wcs-complicity
Adrian Douglas Demonstrates How The Fed Cooks Its Books (With PwC's Complicity)

http://www.forbes.com/sites/traceygr...nder-reported/

It is the first audit of the Fed in United States history since its beginnings in 1913. The findings verify that over $16 trillion was allocated to corporations and banks internationally, purportedly for “financial assistance” during and after the 2008 fiscal crisis.

http://www.cnbc.com/id/43855944/GAO_...ith_Loan_Rules

And nearly three years after the loans were made, the Fed still hasn’t provided a satisfying answer for why it made loans to the London-based broker-dealer subsidiaries of Merrill Lynch, Goldman Sachs, Morgan Stanley, and Citigroup, as well as the U.S. broker-dealer subsidiaries of Merrill Lynch, Goldman Sachs, and Morgan Stanley

The GAO is very limited on how it "audits" the Fed. It's first substantial audit, which was a really big deal in the news, was last year and highly restricted in its original scope and yet it revealed quite a lot of shit. It was only made possible due to the fairly recently passed Dodd-Frank Wall Street Reform and Consumer Protection Act.

http://www.publiceye.org/conspire/fl...flaherty6.html
Myth #6: The Federal Reserve has never been audited.

It effectively never has been. See this laughable bit below.

Each Reserve Bank is audited every year by independent General Auditors who report directly to the [Federal Reserve's own] Board of Governors.

They hire their own private auditor who then reports back to them and publishes the results with their approval... LOL! And make sure to read the section on the (lack of) scope of GAO's "audits."

The Government Accounting Office does not have complete access to all aspects of the Federal Reserve System.

[Stinkles]

Ron paul is racist, right?

And homophobic. And a deist and an evolution denying vaccine conspiracist. But he's still going to get all the delegates.

[Stinkles]

Wow, awesome. Links from the Federal Reserve's own website? And "audits" from their good friends at the multi-billion dollar accounting firm? Good stuff, man. Thanks for proving me so wrong. http://www.zerohedge.com/article/adr...wcs-complicity Adrian Douglas Demonstrates How The Fed Cooks Its Books (With PwC's Complicity) http://www.forbes.com/sites/traceygr...nder-reported/ http://www.cnbc.com/id/43855944/GAO_...ith_Loan_Rules The GAO is very limited on how it "audits" the Fed. It's first substantial audit, which was a really big deal in the news, was last year and highly restricted in its original scope and yet it revealed quite a lot of shit. It was only made possible due to the fairly recently passed Dodd-Frank Wall Street Reform and Consumer Protection Act. http://www.publiceye.org/conspire/fl...flaherty6.html Myth #6: The Federal Reserve has never been audited. It effectively never has been. See this laughable bit below. They hire their own private auditor who then reports back to them and publishes the results with their approval... LOL! And make sure to read the section on the (lack of) scope of GAO's "audits."

This is an amazing exercise in goalpost moving. 'never been audited' - 'yes it has, a lot' - 'those audits don't count.'

The federal reserve is exactly as venal,and disgusting as the rest of the financial world but the literal boogeyman status applied to it is from the same place as racist Rothschild conspiracies.

[Black Mamba]

Wow, awesome. Links from the Federal Reserve's own website? And "audits" from their good friends at the multi-billion dollar accounting firm? Good stuff, man. Thanks for proving me so wrong. http://www.zerohedge.com/article/adr...wcs-complicity Adrian Douglas Demonstrates How The Fed Cooks Its Books (With PwC's Complicity) http://www.forbes.com/sites/traceygr...nder-reported/ http://www.cnbc.com/id/43855944/GAO_...ith_Loan_Rules The GAO is very limited on how it "audits" the Fed. It's first substantial audit, which was a really big deal in the news, was last year and highly restricted in its original scope and yet it revealed quite a lot of shit. It was only made possible due to the fairly recently passed Dodd-Frank Wall Street Reform and Consumer Protection Act. http://www.publiceye.org/conspire/fl...flaherty6.html Myth #6: The Federal Reserve has never been audited. It effectively never has been. See this laughable bit below. They hire their own private auditor who then reports back to them and publishes the results with their approval... LOL! And make sure to read the section on the (lack of) scope of GAO's "audits."

Oh, so now we're moving goal posts? Somehow "it has never been audited in its entire existence" is no longer the relevant claim? typical CTer argumentation strategy.


In this post you've managed to claim Price Waterhouse is in on a conspiracy with The Federal Reserve (to what end, I have no idea). Then you link to a blog post making idiotic interpretations of minutes. And you also refer to last year's GAO audit (which isn't an audit according to you) which was overblown by the media because it's the media but in reality found almost nothing to worry about. And yes, I read the entire GAO report when it came out.


And you link us to a professor who wrote articles debunking your very claims. As if you weren't aware. lol. You debunk yourself at least 3 times in this very post. By accident.

edit

Each Reserve Bank is audited every year by independent General Auditors who report directly to the [Federal Reserve's own] Board of Governors.

To clarify this bit, since you don't understand. He's saying each member bank (district) is audited by an independent firm and this is brought to the Federal Reserve Board. You see, the Member Banks themselves are run privately but the BoG is a publicly appointed board. So this isn't the Member Banks being reported to themselves. The BoG is a higher power and overseer. It's who you would want the reports to go to.

Unless you think the Federal Reserve Board, mostly made up of academics, is in cohorts with rich executives, of course. Which I'm sure you naively believe.