I learned this in like 2015. I’ve educated myself little more since then. But I saved a little money to purchase a car. Went to my bank (local credit union) and requested to take 11k out . They told me no. I was freaking pissed. Eventually a manager came out and allowed me to take the money out , but I was dumbfounded they even told me no to begin with.
Went to take out a home loan with high credit and a 10% payment for 200k house. I was told no I dont earn enough meanwhile my rent is higher than the mortgage. It’s messed up.
When Soviet Union collapsed, my parents and all other Eastern European had all their money on savings account all their life savings. When hyperinflation hit the country, all of their accounts were frozen, no money was given out and everyone lost all of their life savings. It was given out when a lighter was now more expensive than a car. This is how all Eastern Europeans became broke in 1990s and until now many people keep their savings in 6 different banks, some offshore, avoiding loans and debt or keeping money under the mattress… Ironically everyone who wanted to be a millionaire, they all achieved that goal! They got me a Nintendo for $50 Million Rubles I remember.
Most Asian third-world countries also experienced this in the 1990s. The bank closed, and they converted your dollars into worthless currency. You're better off putting money (dollars) under the mattress. I've never trusted banks and have always diversified my assets.
I talked to my coworkers a month ago, bringing up almost every point Dave brought up + how income tax was introduced. People looked at me on the call like I was speaking Swahili... I think the financial system is so unbelievably corrupted people simply don't believe it when you tell them. They think you don't know what you're talking about, its extremely frustrating.
People in general are just oblivious. I keep telling people that we are paying too much in taxes and that our lives would be a little better if we cut our government and lower taxes for landlords, builders and maintenance. That way there will be more competition and rent will cost less than 1000 or 2000 a month. But most people don't take this seriously or just don't want to talk about it at all.
Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm now thinking of ways to protect my portfolio worth of $800k from crisis
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I'd like to see joe rogan put on more of this kind of content (economics, banking system, current prices, inflation...etc) the world is too expensive right now, and it would be nice to talk and educate people about it
You did good work, sir. I did all I could for him as well knowing full well the establishment, their media propaganda and even his own party was trying to stop him.
@@erikc3057 Ron Paul's main message was eliminating the control of central banking and fiat money over the people. A minimum IQ is required to even understand that issue. Most fall below that minimum.
@@CantTellYoumAll he does is highlight every single negative thing about the US. Never heard this guy say anything positive about the country that allows him exercise his 1st amendment rights. No one’s said the US is perfect but bet your ass is the best out there. Was frustrated is that someone who may not be verse in geopolitics will listen to this guys and believe the United State is this big bad evil empire.
"The goal of a debt based economy is to not get caught stealing... the only way to not get caught is if the people allow them to go to a cashless system. If they can't go to a cashless system eventually the economy will crash and they will get caught." ~Bill Cooper (around the late 90's)
@@makkrowmazztikk7003 bingo! They've kicked the can as far down the road as possible... either they're about to get caught... or we're in for several generations of sheer hell!
FUN FACT: On March 26, 2020, the 10% and 3% required reserve ratios against net transaction deposits were reduced to 0% for all banks, essentially removing the reserve requirements altogether. It was replaced with Interest on Reserve Balances (IORB), or interest paid on reserves the banks hold as an incentive rather than a requirement -- Rate on Reserve Balances (IORB rate) 5.40% as of 7/27/2023
@@Bob-lr2xp It means that banks dont have to hold any of your cash. They take it and invest, purchase, and lend it out in order to make returns on money that they don't even own. IORB is what they pay banks to incentivize them to hold cash, just in case.
Check out Mises institute. Rothbard wrote probably the most famous book on the subject "what has goverment done with our money" Per Bylund has written newer ones on the subject.
It is odd that luxury items like TVs and computers and video game systems do get cheaper over time but food and water and things we need to survive get higher and higher.
There's a LOT more to that than meets the eye. Who controls commodity pricing? (you need to get rid of your gas stoves, you need to travel less, you need to eat bugs instead of meat, you need to use less carbon, you need to move into high density housing in 15 minute cities, your farms produce too much nitrogen, etc etc . you'll own nothing and be happy)
@@ricomajesticright but historically the prices were high not due to commodity prices but due to the time and knowledge needed to turn commodities into electronics. That's the area that's getting cheaper
Joe definitely needs to bring Paul in. I'm not a libertarian but have immense respect for his positions and battles against the political establishment.
Other than Dave, Vivek Ramaswamy considered himself a Ron Paul "superfan" when he ran for president over a decade ago. Others such as Tim Pool and Luke Rudkowski (wearechange) have been inspired by Dr. Paul as well.
I worked for Dr. Paul's campaign in 2012. I haven't voted since the Republicans screwed him at the convention. Both political parties are criminal gangs. 2 edges of the same corrupt sword.
@@EJGallagher-de8ji I don’t know Tim Pool has been pretty hawkish lately. He doesn’t seem to have the best grasp on US foreign policy over the last 30 years
When he was running at the time, they called him too old .....🤦♂️. He's healthier than our current president. He was a doctor, he is fiscally responsible, and wanted to audit the fed. He got screwed.
What frustrates me is that we know the system is broken, yet we do nothing to fix it. We just sit around and complain about it. The conversation Joe and Dave are having could have occurred 40 years ago and nothing has changed.
@@Arthur-SilvaI know right. Listening to this guy talking about Nixon taking off gold standard, make me want to jump off a cliff. Also, this guy has no idea how fractional banking reserve is the single greatest wealth creation system imaginable. This libertarian bs only feels good to any one that’s illiterate.
disagree, Joe Rogan all episodes are the best. Dave smith claimed NO americans are pro putin, he should know better than to say that lol, joe corrected him with the MMA traitor being pro putin.... dave shouldve known this, and also steven seagal is pro putin... ;/
Whats crazy is that you people are NOT discussing whats really important here. Instead, you people are just chirping "he is a great guest". Nothing will change in this country. Even when the evidence is presented in front of you, you do nothing. You say nothing. Sad.
is it really worth investing in stocks in 2024, I’ve been on the sidelines watching the market for awhile and it seems to be pretty stagnant to me not that it matters because I’m in it for the long run, but how can one generate actual profit in this current market?
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"What does the money machine eat? It eats youth, spontaneity, life, beauty, and above all it eats creativity. It eats quality and sh*ts quantity." + "The psychotic is the guy who is just finding out what is going on." ~William S. Burroughs
@@CleverGirlAAH ... and there's an awful lot of psychotics around these days. The debt based system didn't start until August 15th 1971 when Nixon took the US off the gold standard.
@@CleverGirlAAH nothing going on today is new. look at the hippie era. All this woke crap started then. Every 30 years we fought the anti family progressives back under their rocks. Only now the internet exists, so the weirdos along with billionaire funds, can organize into entities. Pushing propaganda for the globalists 24/7
I was just thinking "After Tim Kennedy, Rogan needs to bring on Dave Smith for a different opinion on Israel and Gaza" Smith and Glenn Greenwald have been on point on this topic.
Dave dropped the ball at one point. Joe wanted more information on the West Bank. Dave gave next to nothing. There are plenty of viral videos of what is going on in the West Bank that completely makes Tim Kennedy's argument against Palestinians look either ignorant or just plain dumb. Armed Zionist illegal settlers and illegally occupying Israeli troops are literally terrorizing unarmed natives of the West Bank. There is no armed militia resistance in the West Bank for Israel to play the "defense" card.
No they haven't because they've given no solution for Israel to protect itself in the future, and a ceasefire would only allow Hamas to reestablish themselves again and commit more attacks for which they've already vowed they'll do. You can argue all you want who's land was who's, but that doesn't give anyone the right to massacre innocent civilians 70 years later. You can say Israel has killed Palestinians too, but it's pretty easy to see that one side kills deliberately and target's civilians while the other sides deaths are casualties of war. Israel doesn't attack unless first attacked upon first. They give warning to Palestinians before they bomb. It's not their fault Hamas, the elected leadership group hides its weapons and HQ in heavily populated areas and then puts its citizens in front of them as human shields. By the way, one thing that wasn't brought up in this interview is that 70% of Palestinians polled supported the attack on Jews on October 7th. So if your going to suggest Palestinians are innocent peace loving people that poll proves otherwise.
I agree! The only thing that I know to do is to keep my money at home and vote republican . Every system is so corrupt I don’t know what else I could possibly do.
We're really much born into it. The name on your birth certificate is the name of your living corporation. That's why we get taxed heavily. Edit: so when we die, we become a corpse.
I always appreciate these conversations on the Joe's podcast especially, if it's about hyper-inflation that damages the world we're living in. Unfortunately, whatever happens in the belic conflicts can affect our economies as we're immersed into a globalized world.
I tried taking out $800 from a checking account from my previous bank (Old National Bank) and I was declined. I was using this money to purchase a firearm for home/family defense and also to protect myself from this corrupt government. It was almost ironic in a way that this happened.
@@scratchpenny not that small amount. When you ask to take out 5 figures, I’ve been told I need to order it in. Took a couple of days. Banks aren’t denying $800 bucks.
@@rastamoto Yes, but Old National Bank has a history of this behavior, having many excuses for denying the withdrawal. Look at their consumer reporting history - it's atrocious. I am not saying there wasn't a legitimate reason for the OP, but it's not as uncommon as people think with some of these shadier banks.
No this is the government. The corporations are benefactors. The state creates and maintains this secret monopoly. The state owns the money supply and the interest rates. There is no free market.
@@daltonbrasier5491 sure large corporations built our nation, and it was great, until they became larger than the state, sent the factories off shore, taking away jobs for the middle class, and started paying, or promising elected officials jobs once they were out of office, as long as they voted for whatever helped said corporation, at that point, it no longer helps the people, only the Govt. which creates a corporatocracy. funded mainly whithin the war machine, which is not good for the nation as a whole, but that is the reality of the state.
So you say you're awake? What are you doing about it all? You still service your debt? Pay your taxes? Vote? Just curious what one who is awake does to correct the issue of blatant corruption while accusing those asleep of being the problem.
@troyrager1352 I understand what you’re saying but they’re not wrong, the more people who realize what’s going on the more likely something will be done about it. But on the other hand you’re not really wrong either, I grew up Christian and would always see people in church talk about “spreading the word of God” but never actually go help homeless people (you know, like Jesus himself has been said to have done). So I do think that if someone is “awake” and don’t do anything about the problem, then that honestly makes them worse than the people who are “asleep”.
He is a smart guy who figured out he can get attention by pointing at complex money and screaming “sCaM”. I literally see nothing wrong with the federal reserve, it’s not impossible for the layman to understand. Please don’t make me exercise my 2nd rights to defend our incredible America from your ideas.
@@Sexyoldgeraldorivera that must be what people sell you after the line “they don’t want you to know this..” People who hold gold or gold mining shares would make a killing off of the destruction of the FR… I’m confident you’re smart enough to figure out the grift.
Fractional reserve banking system is a superior monetary system, especially compared to the gold standard, for one simple reason: credit is always going to be cheaper in fiat rather than gold. That's why every single country adopted it. Money do not exist for you to store in your mattress, they exist to make investment accessible to everyone. If you want to save go open a savings account.
He’s right on his analysis yet very weak on how to change things. He’s afraid of guns which is a position no libertarian can really have if they want change or to defend their ideas
@@decentralizeddemocracy8335 F-ck off with that lie, because that's exactly what it is, an establishment lie. It's the worst monetary system, Fiat Currencies and Fractional Reserve have the worst track record compared to a multitude of actual monies being exchanged in a non-corporate banking market and continue to have such even after what, 3 or 4 THOUSAND YEARS OF MAKING THEM?!! Nah, the claim it's the best system is the damnedest of lies and it always will be. You just appealed to majority, henceforth, it's not valid, so quit being fallacious. Those who are for freedom of banking call fractional reserve a fraud, the reason is very simple. If you hand a loan out to person A, they use it and start paying you back, plus interest, the moment you make another loan and use person A's debt notes as the currency to loan say 10 times over, you make the purchasing power signal of each dollar sign TEN TIMES WEAKER BY FRACTIONATING IT DOWN TEN TIMES.... "Money do not exist for you to store in your mattress, they exist to make investment accessible to everyone" no, that's empty commie rhetoric, governments wanted more control over stuff, that's why they adopted central banking and fractional reserve. Six core functions of monies are: 1. Mediums of exchange based on commodities and assets 2. Stores of value 3. To make purchases and trades easier 4. Holding reserves for future payments. 5. A standard of deferred payments. 6. RELIABLES UNIT OF ACCOUNTING Monies should exist to be mere mediums of exchange, but we don't have monies, we have CURRENCIES. "If you want to save go open a savings account." is not a valid argument either.
@@decentralizeddemocracy8335you don’t need credit when your currency has real value. When you aren’t trying centrally plan the economy, prices are allowed to drop and you won’t have to deal with constant rising inflation
Then you didn't carefully observe what just happened to "everyone" in the past 3 years of the so-called pandemic? Here's what I observed: People did exactly what they were told to do. They gave up all their Constitutional rights and allowed this government to strip away every freedom they ever had. They allowed their schools to be shut down. They allowed their churches to be shut down. They allowed their businesses to be shut down. Then "everyone" got exactly as afraid as the government propaganda told them to get. Then, like sheep to the slaughter house, they lined up and took their "jabs". Were you paying attention?
The economy is what caused me to rethink my liberal values. For anyone who is open minded I highly suggest learning about Austrian economics. Really puts things into an alternate perspective that as a liberal you can’t really conceptualize.
It's not going to matter if you believe what a lot of us believe! And have what a lot of us have! FAITH IN YHWH,JESHUA,HOLY SPIRIT! ALL THIS IS A DELUSION OF EVIL.
His interpretation is silly. Nothing of what he said is secret and are the rules of the game for a long time now. The participation in the system is voluntary. If someone does not like it, they can renounce their citizenship and leave. The system is a group of people who get together and decide to cooperate with some rules in a certain territory. Each territory (country) has their own rules, and the territories without sovereignty have no rules (as living in a platform in the middle of the ocean). All is voluntary
@@cristianproust This is a silly interpretation. He’s not saying it’s secret, he’s saying that people aren’t aware of what’s actually happening to their money. It’s a confusing system, but it’s confusing by design. It’s not voluntary if you aren’t aware of what’s happening and are met with forced compliance if you do. You never countered any of his points, and just babbled off nonsense that isn’t even true. This “territory” was made and founded to make and insure all these insidious acts were punished and held accountable for. This is all entirely involuntary by definition
@@peepeepoopoo2749 Saying is not secret it means that is public, and that if people don't understand it is because they don't like to learn anything. It is not confusing, it is pretty easy to understand, you just heard it in a video. The problem as usual: laziness. People retain in their memory the explanation of when they were 10 years old of what a bank is. The indignation should be self-addressed, because most adults don't really care about learning anything and just complain about not knowing. All this I heard it in school (most people don't remember because they were not paying attention), and if anybody is curious there is the Internet. It is pretty silly that people's ignorance is portraited as someone else's fault but theirs
Im surrounded by sheep. Every direction. What is the point of your podcast addiction if you do NOTHING with this knowledge? The amount of passive human beings is unreal. People used to fight for something. Used to stand for something. Now as long as they get their instant gratification daily dose, they dont mind getting fuxed up the as@ by big companies and the government. Unreal.
The Bible is truth. To understand this you must do the inner work Jesus Christ taught. It all starts with forgiveness from the heart. Start by finding the grievances we all build up with our parents. They have generally raised fed loved us to some degree. Looking inside, realizing that they are people who make mistakes too, and genuinely forgiving them everything shows an important aspect of your soul to God. Genuinely mean absolute forgiveness inside your heart. This is key. To be forgiven we must forgive. This step teaches you why Jesus Christ is lord, and why you need to break down to him and ask for forgiveness. Afterwards read Genesis, Mathew, and one book of the Bible you chose yourself. These four steps have important spiritual significance and are like milestones within our souls. Please trust me. Genuinely open your heart up to God. It is all true. Jesus Christ is the way truth and life. 😊
Given the uncertain economic conditions and heightened global tensions, I'm considering investing over $400k in stocks. However, I'm uncertain about how to minimize potential risks.
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Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
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exactly, so he kinda needs to catch up to open his big mouth, because he is several years behind. sounds like JR is bought out and is running propaganda for all the economically illiterate.
@@TheMidnightModder well means when the banks fail, FDIC can't, isn't, won't, not possible to cover your little bank losses. So everyone is gonna be super F@CKED.
Dave "The establishment extracting money from people is just the tip of the spear." Joe "Have you seen an orangutan fishing with a spear?" Dave "What? No. I just meant...." Joe "Jamie, pull up the spearfishing orangutan for Dave, please."
bonivista newfoundland peter pan new movie i watched seals use iceburgs as slides :P and dad one time used beer can string and stick moas call mateing season we rushed in truck and that thing came at truck so hard almost flipped it thankfully that was when i was getting sand for sand boxes baby cubs played in week or two after@@mcpozzm6321
So the USA should miss out on advancement in finances because you and Rogan are too lazy to learn basic economics? Strange times. Russia might have actually destroyed America with memes
This whole free market argument is no longer totally true. It used to be that if a company made bad investments or business decisions there was an apparatus to resolve it. They would declare bankruptcy and once liquidated the prefered stockholders would get paid first, then the common stockholders would get anything that was left. Bond holders were left holding the bag. But now we have "to big to fail" and when they get things right they privatize the profits, and when they get things wrong, they socialize the losses. But I agree with the rest of your argument.
I think Dave would agree with your completely. We’re not in a free market at all and many of these massive corporations would go out of business if they weren’t in bed with the federal government.
this guy summed it up nicely! friends and family dont believe me when i tell them “saving” their money is an awful idea, your dollar is being devalued so much, so fast, the laymen has no idea
@@AluttuhTo the degree I have skepticism about the dubbya dubbya two narrative, that's exactly what I sorta suspect, given that the Allies supposedly secretly made up money from nothing for part one when nobody would buy war bonds or wanted to go fight. Then after killing millions of (often their own) people needlessly in trenches, they dumped the debt for all the made up money on Charles Chapins peeps, which they only paid off in the last decade a century later. They are still paying off part 2 though I hear. Maybe that takes a century too. Slavery indeed.
@@TheJeremyKentBGross that is all imteresting … what ive learned the last 8 years or so is all money is fake, esp now because it is backed by nothing. fiat = fake … i have spent the last two years buying crypto (BTC is def a safe long play) … if you have some cash and want to get rich in 2024-25 .. invest in crypto gaming! my source: trust me bro …. and the thousands of hours i have done in research
Tried to explain this to someone one time and we nearly came to blows. In a cash only society if I have 1000 in my pocket I can buy with the confidence of that 1000 behind me. I.e spending 100 not worrying about it. But if I have that 1000 in the bank as bank credit, I still feel like I have 1000 dollars behind me and the bank actually has it spent already! Effectively atleast doubling the feeling of value for the same 1000. It's crazy, and explains exactly why every government wants us to go cashless.
Do you like driving on paved roads? What about having clean water and working sewer systems, do you like those too? When it snows, do you like plows to clear the roads? Well, fractional reserve lending is what makes it possible. If you dont like those things, feel free to stop using them and go live off the grid somewhere.
@@id10t98 Please elaborate. If Nixon took us off of the gold standard, are you saying we didn't have any of those things before he did that (before fractional reserve banking?)
@@id10t98you can stick fractional reserves lending up your ar5e. It works for certain people, not all. There is definitely a more fair system out there, but the elite like what they have.
Lakers - When you put money in a bank you are essentially giving them an unsecured load. (read: UNsecured) That means the bank pays everyone else first. YOU get paid LAST. Spend some time thinking about that.
debt is money, that's how the dollar has it's value BIDEN printed 24% of the entire economy and only got a 5% GAIN on GDP the 5% doesn't even count because they stopped counting gas, energy, food and rent in the CPI inflation rate which is subtracted from gains(deflator) so paying more for eggs doesn't show up as growth. they are using core inflation as the deflator.
@@skippylippy547 From the FDIC "By law, after insured depositors are paid, uninsured depositors are paid next, followed by general creditors and then stockholders. In most cases, general creditors and stockholders realize little or no recovery. " Depositors get paid first.
banks don't need your money, its just cheaper for them the loan it out. Banks can extend as much credit as they want. If they believe a loan will be profitable, they will issue credit.
dave smith is my guy finally someone who thinks just like me. i thought i was an idiot for so many years. id bring up stuff like this back in like 2010 to people and they called me the crazy one, i was the bad guy for even thinking stuff like this. now its all coming out
Jokes on my bank because I've lived paycheck to paycheck so long they usually only have a couple hundred dollars of mine to loan out at any given time lol And when I get money to save I buy gold and silver to put in a safe of my own.
His math on the 10% reserve ratio was actually wrong. If you give them $100 they can create $900 and loan that out and your $100 becomes the 10% in reserve. It's absolutely insane
It works out both ways regardless - they simply need to keep 10% in reserve. Stop splitting hairs. But we know they cheat this system as well. They don't always keep 10% in reserve. Banks are organized crime supported by government - supported by the military which is the strong arm of the government-banking crime syndicate.
The reserves now are 6% but there is no limit on printing money, under Regan they held money printing to 4% a year but then Clinton argued that’s discrimination against people with poor credit and rest is history
Whats the point of knowing stuff if you dont do anything with it? US government is fuxing its citizens up the as# and we keep taking it over and over again and afterwards we go "wow, i learned so much". unreal
It was certainly wrong, but I wouldn't grant them the undue courtesy of terming it as a "mistake". That implies an action made in good faith, which ultimately resulted in unintended unforseen negative consequences. In no way does that accurately describe the removal of the Gold Standard.
@@gyrate98 this is the definition of deflation. Prices fall as technology increases. Deflation is good because it means your money gains purchasing power over time. Deflationary busts caused by money printing is the kind of deflation I think you were initially referring to.
That isn't how fractional banking works. The truth is waaaay worse. Here is why: You give the bank 100$, they now have the "right" to lend out 1000$ (10x). Yeah... let that sink in.
Bitcoin is the standard, a hard money with a set supply as a counter to inflation is Bitcoin. Bitcoin can't be printed, its decentralized so know one controls it, it;s fast and secured through a perfect ledger system. Year to Year in all asset classes its up nearly 5x to its competitors. The only savings that your money and energy grow is Bitcoin
Specifically it is price deflationary. Not monetary deflationary. Its really confusing when people use these 2 interchangeably and makes discussions really confusing.
Joe and Dave really hit the nail on the head, I have never bought into the modern money theory and certainly never believe any company is too big to fail.
It is a wonderful life that he was thinking about. It’s about fractional banking. Kind of a cool part of the movie that it talks about more than you think.
He's good at explaining the problem but no solutions. We need a new type of currency that these globalist politicians and bankers can't control, track or counterfeit. The distributed general ledger blockchain model for example would be a good alternative.
The "Federal Reserve" is not "federal" a government entity nor is it a "reserve" it doesn't hold gold or anything to back its currency. The key term Dave does not mention is "inflation tax" The public suffers so few can benefit.
It absolutely is a Federal government entity. The entire board of the Federal Reserve is appointed by the President and approved by Congress, and they have a government enforced monopoly on the creation and distribution of currency. The Federal Reserve is not private in any meaningful way and a political institution through and through.
My business professor was in the bohemian grove and owned a bank. When he explained fractional reserve banking I said something to the effect of “That sounds like a Ponzi scheme.” To which he enthusiastically said, “It is a Ponzi scheme!!”
My dad was holding a press conference for the Martian aerrial defense militia on the Martian North Pole and he basically explained that the whole galaxy is one giant swirling ponzi scheme
FINALLLLLY. It is not said enough inflation is a tax ON EVERYONE. Remember noone complained about the fun coupon checks for nearly a year and then shocked and puzzled by why everything is more expensive a year later
That wasn't even the primary cause of inflation! You think a one time 1000 dollar check is going to cause inflation for yeras! LOL! Get serious! Most people used that money to pay their bills and it went away.
The dude has been saying the same nonsense libertarian talking points for years.. you would of thought that he would have figured out that libertarianism is kinda illogical by now
Actually Josh, the Federal Reserve charges the U.S. interest on every dollar they print. The Fed creates the interest rate. ALL US money - repeat ALL - is entirely controlled by the Fed. The Fed is a PRIVATE corporation. Since this Fiat Currency is based upon NOTHING, it worth NOTHING. The US dollar is no longer the "World Reserve Currency" which used to be based upon global petroleum commerce.
Also, 99% of the value of transactions are in digital swaps, not exchange of cash. In other words, most money exists as a record in a digital ledger, amd maybe only 1% of the cumulative wealth is represented by cash, which itself is just faith-based paper. It's nice that a small percentage of people are aware we've been hoodwinked by government and banks, but we're unlikely to raise enough awareness to stop or undo the damage and theft.
The amount of money a bank is required to hold from your deposit is called the 'reserve requirement'. In past-times that % was from 5-10%. Today, it's 0, yep, zero.
The lobbyist are in D.C. and the bankers are in N.Y. Antisemetic or not, truth is both groups are comprised disproportionately by a small ethnic subset of the U.S. population. Nearly all the administrative members of the Federal Reserve also happen to share a common lineage shared by those DC lobbyists and NY bankers.
As a Middle class citizen who lives in Fairfield county, Connecticut, one of the wealthiest in the country, It's almost bizarre how there is so much money here. There aren't any big companies here, no big attractions, just suburbs with many expensive and beautiful houses. You hardly see the working class. Everyone is making their money in the city.
Don’t forget, as prices goes up & more things are financed - the banks own everything until you pay for the product + interest. If the whole economy defaults and can’t pay - the bank gets control of everything. Like a game of high-stakes monopoly, with real life consequences 👍
Yeah and pay off a house loan and your still paying “rent” to the city, who could take your house if you stop paying their property taxes they charge you.
If the economy defaults and shit starts hitting the fan, it doesn't really matter what the bank owns. At that point it's every man for himself, and the bank can't take every bodies home back.
@@chillingguy8386 his standup is bad. Honestly, if you like his podcast just follow John merscheimer or watch videos about the austrian school of economics. Dave just watches John merischheimer (not sure on spelling) and gives dumbed down versions of his arguments
@anacc3257 you are an obvious authoritarian who loves Government control. Show proof of anything misleading he said without being an ad hominien attack.
I love this clip so much because it puts into words what I already knew & broadcasts it to the viewers of Joe Rogan. Sound those alarm bells, we need to fix this nasty economy.
Yes i totally agree, and This is also the whole reason for bitcoin’s invention, where there can’t be more coins added to the system “inflation” and it is decentrelized so there is no way to destroy it, unless one person holds 51% of the mining power, which is basically impossible and becomes harder and harder as the network grows
@@Haki-dd4ix Legit question for you. What's the difference between printing more and more money vs splitting crypto coins in smaller and smaller pieces? I think the scarcity part of the sales pitch for bitcoin doesn't actually exist because the coins can be split into smaller and smaller pieces. You can't do that with a work of art or a Ferrari.
You can't fix something that you don't control. You don't control the currency. You don't control banking. You don't control government spending. You don't control the Federal Reserve System. You don't control anything.
We have so much food we love. Probably during the depression you didn't have all this food. What you did during this time is you probably had soup and somebody made the bread. You took small amounts of something that was expensive and used a little bit of it and you had rice or potatoes. Sunday did feel like a special meal of the week. People also would mend stuff. People are going to freak out now. When you can't have that steak or hamburger. I told somebody at work that I was making bread, tortillas, flatbreads, broths, or something else by sketch. They laugh at me and say why I don't you just buy it at the store. Same thing as growing herbs and small edible plants from an apartment situation. Things are getting real and all I want to do is get ahead of all this.
