The Federal Reserve Act of 1913 (HOM 30-C)
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- Опубліковано 2 чер 2024
- History of Money, Lecture 30, Pt. C: on December 23, 1913, President Woodrow Wilson, a Democrat, signed the Federal Reserve Act into law. The Federal Reserve System replaced the National Banking System, created the famous Federal Reserve Note (redeemable in gold at the U.S. Treasury), functioned as a lender of last resort, and placed the charge of the nation's money supply in twelve private Federal Reserve district banks across the nation, with the New York Fed the most powerful, the system overseen by a Federal Reserve Board in Washington, D.C. Morgan partner Benjamin Strong, Jr. was made Governor (President) of the Federal Reserve Bank of New York, and Woodrow Wilson appointed Paul Warburg to serve on the Federal Reserve Board in Washington. Until 1933, open market operations were conducted autonomously by each of the twelve Federal Reserve Banks, owned and controlled by the member banks in their district. The plan hammered out at the Jekyll Island Club in Georgia, for a central bank in the United States, finally came to fruition.
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Dr. Jonathan Barth received his PhD in history from George Mason University in 2014. He specializes in the history of money and banking in the early modern period, with corollary interests in early modern politics, empire, culture, and ideas. Barth is Associate Professor of History at Arizona State University and Associate Director of the Center for American Institutions at Arizona State University.
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Why is this not more popular...
Because most people are morons , who are more interested in Kim Kardashian's a$$ than identifying their rulers .
Cause they keep taking it down...and restarts the likes count
Perhaps because not only are the masses not curious about this subject, they don't know they should be curious about this subject. Worse, they have been inculcated in a manner that even reveals this is a subject.
Because sheep dont care!!!
Likely bc matter how well you understand it ,there is very little to be done about it, unfortunately
This lecture is pure gold (or paper certificate redeemable in gold) for history and notaphily fans alike.
Haha thank you Renan
You'll be lucky to get some silver slippers.
At the 11:40 minute mark it was stated that Chief Justice John Marshall ruled that the [First] Bank of the United States to be constitutional. The new-view is that he didn’t actually quote on the specifications of the [First] Bank of US Act. Instead, he ruled that Congress has the option to use a corporation to help fulfill its enumerated Constitutional “decision making responsibilities”. That ruling was actually in error because in the 1824 Supreme Court case - Bank of the U.S. v. Planters Bank of Georgia, he stated that Congress had no power over the [First] Bank of the US that wasn’t included in its charter. The charter gave no money control power to Congress. Therefore Congress was enslaved to the decisions made by the {First] Bank’s board of directors. Since Congress couldn’t control the corporation, then how can Congress fulfill its Constitutional responsibility to represent citizens in decisions about money stated in Article 1 Section 8? The answer is it can’t. Justice Marshall actually said it was constitutional for Congress, and thereby citizens, to be enslaved to the decisions of a corporate board of directors. That is the opposite intent of the US Constitution.
Yep, i always said federal reserve notes are unconstitutional.
Yes, yes!
Bastard
Andrew Jackson would have been pissed. This was more like poking fun at him for destroying the first federal reserve
Can you direct me to some sources? That is fascinating. I know the central bank agenda dates back to the 1500s even earlier, but I didn't know Andrew Jackson tried to go against it
Actually, Jackson ended the Second Bank of the United States, which was a Hamiltonian National Bank, one-quarter owned by the federal government, not a wholly privately owned Central Bank.
Jackson’s Vice President and successor, Martin van Buren, was also a Wall Street banker. There was speculation that van Buren was an illegitimate son of Aaron Burr, so closely did his politics line up with Burr’s.
It is understandable that many would believe that Andrew Jackson would not be pleased with our Federal Reserve System. Jackson was an anti-Hamiltonian. Alexander Hamilton would be livid with the Federal Reserve, and would not cease political organizing until it was shut down and replaced with a Third Bank of the United States. The National Bank was a critical component of what was known as the American System of political economy, with President Thomas Jefferson’s Treasury Secretary Albert Gallatin noting that each part of the system was dependent upon the operation of the others.
The Federal Reserve System was designed, in part, to prevent the establishment of a Third Bank of the United States.
It is often mentioned that as a member of the First Congress, James Madison opposed the National Bank on constitutional grounds. This is correct, however, he did so only after the Pennsylvania delegation defeated an attempt to shorten the Bank’s charter to ten years from twenty, since the seat of the federal government was set to move to Washington, D.C. from Philadelphia in ten years. It was then that Madison devised his constitutional interpretation which did not permit the Bank. At first, Madison was on board with establishing the Bank of the United States.
Madison would reverse this position again during the Second War for Independence, after realizing his mistake in allowing the Bank of the United States’s charter to expire.
@joeltraten5967 Thank you for the info. It's something for me to look up.
The entire board needs to have all there assets seized. Give it back to the people they have stolen it from.
Every American should be watching your videos!
Which dissolved the United States sovereignty.
It definitely placed the fate of the nation's economy in the hands of an elite clique of bankers.
This is the schooling children need.thank you brother for your time and effort to share the truth
I just want to say thank you for these lectures!! I've read 'The Creature From Jekyll Island" and it's nice to solidify all that knowledge with these lectures. Great Work!
You're welcome; thanks for the kind words. And classic book!
I'm writing my graduation thesis, I'm Brazilian and it's helping me a lot to understand the American context, I've seen the playlist
thanks, keep up the good work
all you need to know about it is that we have been fkd ever since -
I heard woodrow wilson said this was 'the worst mistake of my life' and 'i sold out my countrymen' because of this.
-20% value of our dollar in 18 months from covid money printing alone. Before this point we were arguably at -99% value of our dollar already.
The real question is: Who tells the heads of the federal reserve what to do? Like who is ACTUALLY pulling the strings? If I could have the answer to ANY question thats what Id ask.
When Paul Warburg was running the Fed, his brother Max was doing the same job for the Germans.
All jews
It’s like waking to a nightmare. The beasts
Thank you so much for having published these videos! I have learned so much here versus trying to make sense of the other videos and books out there on the internet.
Good work
Thank you so much for this awesome lecture. I just subscribed to your channel, and I'm looking forward to listening to the rest of it.
Time for all the CEOS to have all there assets seized.
You are a gifted teacher thanks for these videos. 👍
Here from Sunday Cool. Love the vids!
At the 16:13 mark was the specification (sectioon16.1) that authorized the Fed note to be receivable by all banks. Technically speaking that is different than the statement on the Fed note that it is legal tender for all debt public and private. I was wondering if you had heard anyone else make this point and if they saw how important of a change it was. In other words, does anyone use this difference as one of the tricks the writers of the Fed Act built in that nobody appreciates?
Who did print the banks' notes for 20 years? Was there any laundering money as liquid deposit.
You are great at teaching this stuff, I am making a documentary on this subject right now. This is the best aggregation of information explained in a coherent way that I have come across. Good work, cheers mate :)
Stop paying unconstitutional taxes
If there was ever a need for the $500 and $1000 bills is now
Fantastic presentation of the creation of the Fed Rsrv Banking cartel.
Good job
That $10 is one of my favorites... on my bucket list. It was made from hemp, sidenote
8:13 The Federal Reserve Note was a fractionalized gold reserve system, unlike the Gold Certificates, which continued to be produced over that same time, and which were fully backed by gold.
Yep, I talk about gold certificates (and silver certificates) here: ua-cam.com/video/CpLUfrmeMKU/v-deo.html
Bernie madoff said he learned ponzi scheme from the govt.
I am upset that i have just come across this platform!😂 I have been binge watching the material as I've been studying and applying these subjects not known, let alone understood, by most.
This is vitally important history. It's strange that it doesn't seem to be covered in school..... What I don't understand (and maybe you will cover this in a subsequent lecture - I will be following along to find out) is how the congress and American people didn't push for a reform of this system after its colossal failure just years later with the Great Depression. Was the argument not that increased flexibility would protect the financial system? The greatest collapse in US history is hardly solid evidence of effective protection.
Love this video! Thanks for the hard work.
It's called the Fractional Monetary System, there 1971 Book called, "Modern Money Mechanics" described a Debt Based Economy..it's not complicated, there a "Bunch a Crooks" imo Professor
END THE FED!
How can the United States issue currency and take responsibility for backing the currency when it isn’t a bank?
Exactly ! Short answer = They do whatever they want because we the people do nothing but obey. A large flock of sheep = We the people. We are so far away from our US Constitution it is pitiful and very sad. All because we the people do nothing but obey.
@@greg7129 none of the many steps it took to get here were done long before I was born (78) so bark at the boomers or the generations before them because my vote of last was stolen and a 1man army isn't capable of crap
19:22 The Federal Reserve Bank Notes were "National Bank Notes" of the individual Federal Reserve banks, with the one other difference that, unlike the National Bank Notes (other than those produced 1908-1915 under the terms of the Aldrich-Vreeland Act), could be backed "by other securities" than only the US Treasury bonds required as backing for all other National Bank Notes."
Curious. What was Theodore Roosevelt's opinion of the Aldrich Plan snd the subsequent Federal Reserve Act.
8:00 Actually, the National banks continued to issue their own currency until July, 1935. So, even if "the writing was on the wall" with regards to the National banks, their actual reduction to a non-currency generating status more comparable to that of the state banks comes later.
I’m at 3:04 and this already sounds suspicious
This is a bit out of context, but what was so important about the original thaller that it spread to Britain and Spain?
The importance of central European silver mining before the 16th century gave the thaler prominence on the Continent.
18:34 as I watch the lecture, it will be interesting to have someone with the mastery of the subject like this channel to interview, and a substantive and detailed way people like Ron Paul, to learn what was his antithesis towards the federal reserve.
They are people who are taking that populist anti-fed tone like Donald Trump pad, but it seems more like a political posture, then someone actually trying to even attempt to reform the fed.
Also, was really good about the challenge self is that he covers the politics of the past from a skeptic historical point of view, as well as the practical understanding of the federal reserve and his impact and the hearing now. That’s a hard balance to maintain yet it is absolutely needed for people to make informed decisions, and to understand what’s going on and how we got to this moment in time
William Jennings Bryan was the model for the Cowardly Lion, on account of his campaign plan to replace the gold standard with silver.
Ninjas are butterflies sent me here!
Who's a good question maybe you've covered it? In 1933 in the Emergency Banking Act 20 years later or so the confiscated all the gold from the people for public use, what was the caveat, all are Necessities became the obligation of the United States and those of exchange and promissory notes became the new money, everyone's just Trading promissory notes or notes or bills of Exchange when endorsed properly become money oddly enough. You and I are also bankers and can apply to the Federal Reserve with these forms of collateral in exchange for Federal Reserve notes, and I believe the debt will be paid. So while the secondary lien on the property when the promissory note was the collateral? We are also the beneficiary of that trust. Securities Trust
Criminals!
Why doesn’t anybody talk about the titanic?
No creation of Congress can be private. They can call it whatever they want.
Four rules to the game :
There is no money
Stay in honour at all costs
Do not participate in public controversy
Public and private do not mix
I wonder how this information is affecting AI?
19:18 Actually, the Federal Reserve Bank Note was created in 1915, primarily to help fund the US role in World War I, and ceased production somewhere 1919-1920 as costs of the war came to be absorbed by other modes of currency. The Federal Reserve Note was only revived in 1933 to replace the Gold Certificates and gold coins abruptly withdrawn from circulation with the act of 1933. Otherwise, such withdrawal of such an amount of currency and coin would only have seriously deepened the depression. The $1 United States Note was also created at that time for the same reason, but it was abandoned after only a month when it was recognised that its utility was insignificant at best. The Federal Reserve Bank Note was abandoned mid-1934, this time for keeps, as again, other currencies had expanded to absorb the value of the notes.
"To help fund the war"😂😂😂. These are the same banksters, I mean gangsters behind that too. "All wars are bankers wars."
ua-cam.com/video/vnTk38J8KjI/v-deo.html
And the dolly lama helped when it came to those serial killers with the brand of cereal called lama loops
Alright grandma's Joe and those red and white boxer shorts a Doris Day. Can we get rid of that chicken filet? It's red and white? I mean the 9 out of 10. Dennis surnecessary is missing for the licking of the back of his tooth to make it longer on the tube of toothpaste.
Just found these lectures. This should be taught in usa schools. But can understand why it isn't, beside, 98% of that population is too dumbed down.
....and the entire planet has been fkd ever since....
William Taft, was my Great Grandfather boss, we started all banks in Canada of Bank of Canada and Great West Permanent Loans and Savings Company of Canada, we were Special Financial secretary for the Regiment#4 Royal Logistics Command in UK, opening Bank of London and closing a couple of times, Bank of Scotland and Ireland, we also signed the India Shipping Documents in Ireland Belfast 1921, later our family home was the United Church of Canada in Vancouver UBC ground under contract
Cool... so you guys are part of the problem. Good to know.
So what are you trying to say besides my family got by on the backs of others?
Look at the definition of a person and a golem They are the same thing. Who makes golems?
😞
In my opinion this is when we became debt slaves.
They’re gonna do this agin like china
Established in 1865 as q result of the U.S. Civil War.
But 22 signatures of the federal reserve note dollar are based on my name without payment of the treasurer and secretary of the Treasury signature is 1%. Or 702.5 million Americans multiplied by a $250 deductible as head of household. For 57 years have the dollar been based on my name without payment from the government International money exchange for the Vatican. You know one? Dollar. And a broken commandment? How does it feel not to have last rights by a priest? It's not broken a commandment. For the last forty seven years can you hear them screaming
Funny how he is likely a left or right supporter
Hey they're attacking my feet here with a little thing vibration thing or something because it's their property even though the money's based on my name. Of treasurer I don't. Think that's fair do you for 57 years and then on top of that from the 19. Twenties? And the donkey dollar with my name ruben on it. I don't think that's fair
Sounds like you are ready for the federal digital currency. 😂
The Satan act of 1913.
The problem with this it’s interesting BUT the Dinkel Dork taking will put u to sleep
You take too long to get to the point.
Academic history professor here -- so take it or leave it ; ) Also, these lectures were originally taped and recorded for my class at ASU during covid when in-person classes were cancelled; so you're watching actual university lectures.
You are working so hard to avoid discussing the tragic consequences of this thinking. Keynes is deranged and socialism doesn't work.
What is money? What is the value of money? Money is a tool used to equalize trade value. It's value is your labor that you contribute to build the society we live in. When you borrow money in the debt based monetary system you have to work to pay back what you owe, plus interest of course. So how do you or why would you borrow your labor from the con men that operate the biggest fraud of all time? We are told we owe 31 trillion dollars in debt to the people who service our bank accounts. A debt that can never be paid back to people we aren't allowed to audit or know their identity for empty promises of a fair and stable currency, that feeds off of and cheats hard working men and women to build a world nobody wants to live in. How is that ok?
It's not ok. They believe there's nothing we can do to stop them and good intentions forgive their crimes against humanity. Well i want my money back plus interest and penalties and that includes the gold and silver taken from our Treasury and a complete Audit of the Federal Reserve. We do all the work, we pay all the bills and we fight all the wars when the blood gets spilled and this crap where everything is a big secret we don't need to know is going to stop. Build what back better transition into what Joe Biden? Climate Change? Wolf, wolf the sky is falling. The Great Reset? The 4th Industrial Revolution? Sustainability? We need to eat bugs? It's not gonna happen...
The note has to be backed by currency or it is not worth the paper it is written on.
Sorry but the federal reserve is no longer in charge. Sorry to let you know.
Repeat phrases. Mouth noises. Later lecture. Purgatory