Federal Reserve Act

The situation we find ourselves in now is a reminder that even central banks that look independent on paper, that is, we like to say in a de jure basis, are not necessarily going to be immune to political pressure.

And so what we're seeing now is described by that situation where there's been no change in the central bank charter, no change in the Federal Reserve Act.

We're seeing pressure being put on it in spite of its legal basis.

So I hypothesized in a weak institutional environment characterized by governmental dysfunction and distrust, even notionally independent central banks could be susceptible to political pressure and hence experience higher inflation.

See how easy that was? I could even state another sentence.

My job, as written in the Federal Reserve Act, written by Congress, by law, is to look out for the best interests of the American people.

It's just not that hard.

I think it was, it was a loaded question.

He said, a lot of it is word for word.

Woodrow Wilson, elected on a platform hostile to the Money Trust, signed the Federal Reserve Act on December 23, 1913, two days before Christmas, with much of Congress already having gone home.

The plan drafted by six men on a private island became the monetary constitution of the United States, and the men who drafted it watched their opponents take credit for defeating them.

Paul Warburg was appointed to the first Federal Reserve Board.

If let's say President Donald Trump wants to completely abolish the Federal Reserve Board, how does he go about doing that? Or does Congress have to go ahead and approve it? And if I'm not mistaken, Thomas Massey was one of the biggest advocates of completely abolishing the Federal Reserve Board, isn't it?

Abolishing the Federal Reserve, George, would require Congress to take action, precisely because Congress created it with the Federal Reserve Act back in 1913.

A president cannot unilaterally dismantle it.

New legislation would need to pass both the House and the Senate to repeal that law.

I feel like that's what's happened here.

I mean, I feel like, just I mean we're in America and you know this country has been co-opted since as a Bitcoin I'm inclined to say like since the early 1900s when the Fed the Federal Reserve Act was passed and the central bank and things like that and you can just see so many metrics of just the downward spiral that we've been going through from health to debt to uh violence and drug abuse and things like that so it's just like I feel like they're playing the long game and by they you know Who are we talking? The Rothschilds, the Rockefellers.

You could throw out all these names.

I like how Simon Dixon puts it, the financial industrial complex, the technological industrial complex, and the military industrial complex, because it is a global cabal.