In the war of 1812, the Brits burned down the White House. It would be good to see the whole video to understand the relationship of money to the other great wars. The guy seems to know his stuff.
What happened was an immigrant jew banker named Paul Warburg convinced the federal government and other bankers that a central bank was needed after a series of bank crises. The role of the central bank was to lend money when regional banks got into trouble, in order to contain bank runs and financial crises.
Of course, this oligarchy of banks was of great benefit to the bankers. Also, it did not stop financial crises from happening.
It should be noted that when the Federal Reserve was created in 1913 US dollars were ostensibly backed by gold. It wasn't until the 1970s when the facade was exposed, and the US dollar officially became fiat money after the Nixon Shock (when Nixon ended conversion of dollars to gold).
[ + ] iSnark
[ - ] iSnark 5 points 4 monthsJan 13, 2024 09:28:55 ago (+5/-0)
[ + ] NoRefunds
[ - ] NoRefunds 3 points 4 monthsJan 13, 2024 16:07:09 ago (+3/-0)
[ + ] foxtrot45
[ - ] foxtrot45 4 points 4 monthsJan 13, 2024 11:40:51 ago (+4/-0)
[ + ] Hosagawa
[ - ] Hosagawa 3 points 4 monthsJan 13, 2024 10:36:04 ago (+3/-0)
[ + ] VitaminSieg
[ - ] VitaminSieg 2 points 4 monthsJan 13, 2024 10:35:56 ago (+2/-0)
[ + ] VaccineWaters
[ - ] VaccineWaters [op] 8 points 4 monthsJan 13, 2024 11:14:32 ago (+8/-0)
[ + ] foxtrot45
[ - ] foxtrot45 4 points 4 monthsJan 13, 2024 12:13:30 ago (+4/-0)
[ + ] chrimony
[ - ] chrimony 3 points 4 monthsJan 13, 2024 13:28:34 ago (+3/-0)
What happened was an immigrant jew banker named Paul Warburg convinced the federal government and other bankers that a central bank was needed after a series of bank crises. The role of the central bank was to lend money when regional banks got into trouble, in order to contain bank runs and financial crises.
Of course, this oligarchy of banks was of great benefit to the bankers. Also, it did not stop financial crises from happening.
It should be noted that when the Federal Reserve was created in 1913 US dollars were ostensibly backed by gold. It wasn't until the 1970s when the facade was exposed, and the US dollar officially became fiat money after the Nixon Shock (when Nixon ended conversion of dollars to gold).
[ + ] mikenigger
[ - ] mikenigger 3 points 4 monthsJan 13, 2024 15:36:27 ago (+3/-0)
[ + ] VitaminSieg
[ - ] VitaminSieg 3 points 4 monthsJan 14, 2024 00:38:52 ago (+3/-0)
https://wtfhappenedin1971.com/
[ + ] Oldguynewname
[ - ] Oldguynewname 0 points 4 monthsJan 13, 2024 11:01:04 ago (+1/-1)
It isnt created it is willed into existence