BestEvidence

Why would you nominate someone who just wrote a 70-page law review article--arguing that every checking account in the U.S. should be moved out of retail banks and into the Federal Reserve--to head up a bank regulatory agency, namely, the Office of the Comptroller of the Currency? And why would you stick with your nominee after an epically bad Senate confirmation hearing?

Who knows? But that's not our problem--yet. What is of actionable concern is that the OCC nominee in question, Cornell law professor Saule Omarova, has not yet been confirmed by the Senate, and is thus not in a position--yet--to implement a plan that will erase any and all personal control over one's electronic finances (at least those denominated in U.S. dollars).

NOW IS THE TIME TO CALL BOTH OF YOUR SENATORS DEMANDING A NO-VOTE ON THIS DISASTER OF A NOMINATION.

What's that? You lack the motivation for such an effort? Then how about this: once Omarova has all of your electronic bank accounts over at the Fed, she thinks it'd be a good idea to DEBIT those accounts en masse, with no right of appeal by you, to cure all of that not-so-transitory inflation.

Still not enough? Okay, how about this? The proposed theft of your account isn't Omarova's first, and she's got an honesty problem to boot.

And if that's not enough motivation to oppose this nomination, well, the words of H.L. Mencken have never rung truer: "Democracy is the theory that the common people know what they want, and deserve to get it good and hard."

The Fed’s vast expansion of its balance sheet via quantitative easing (QE) since early 2020 differs materially from all its previous QE moves dating back to the global financial crisis (GFC): whereas the GFC version of QE was pretty much limited to the massive creation of new reserves, the 2020 version of QE is something else altogether in that the new creation of reserves this time has been matched—almost dollar for dollar—by the parallel creation of new bank money.

The question is why. Why are vast new sums of bank money needed now (supposedly) but not in 2008?

Actually, from the point of view of millions of Americans, vast new sums of bank money WERE needed in 2008, but ordinary Americans are wholly unimportant to the Fed, whose only real constituency is its owners, namely, the banks.

And therein lies a big clue as to what went on with GFC edition of QE, in which pretty much the only new money created was reserves, which are created by the Federal Reserve. Because the big banks were all broke, and because reserves function as money for those broke banks, that’s what the Fed created during the GFC and in its wake: new reserves. The Fed then used those new reserves to buy “assets” like mortgage-backed securities rotting away from stage 4 fraud.

Yes, banks weren’t the only entities bankrupted by the GFC, but they were damn sure the only entities that the Fed cares about, which is why those banks were bailed out with trillions of dollars of new reserves.

But that still leaves the question of why QE2020 involves not only the creation of new reserves, but the simultaneous dollar-for-dollar creation of new bank money.

Prior videos on this channel have explained HOW the Fed effects the parallel creation of bank money (since the Fed cannot directly create new bank money itself), and those same videos have complained that the creation of new bank money is going into the stock market as a sop to the ultra-rich, but that explanation begs the question of why now? The ..

The current financial crisis directly arises not from any viral pandemic but from the Federal Reserve's private sandbox known as the U.S. debt-based monetary system, which--being debt-based--has at last reached the point of no return: total unsustainability, meaning the debt is growing faster than the economy.

The metastatic size and growth of U.S. debt is a matter of public record, admitted to by the Federal Reserve and the Treasury alike.

So while the powers that be can try with all their might to market the current crisis as the latest edition of the global financial crisis, the reality is that the two crises are radically different, as the net wealth curves of all brackets make clear.

The pandemic presented forensically for what it is, namely, a massive theatrical edifice intended to distract popular attention away from the fact that criminal bankers running the monetary system are making a massive push toward full-on totalitarianism through monetary and financial control.

References

(1) BIS General Manager Agustin Carstens explains with gusto that central banks will have full control over retail CBDC transactions, including ability to block individual transactions:
https://youtu.be/mVmKN4DSu3g?t=1537

(2) Sovereign Money (2017), by Joseph Huber
https://www.bookfinder.com/search/?ac=sl&st=sl&ref=bf_s2_a1_t1_1&qi=lAxjx,SD,aaaVxBtyTDWxd4O2DY_1497963026_1:4:1&bq=author%3Djoseph%2520huber%26title%3Dsovereign%2520money%2520beyond%2520reserve%2520banking

(3) “Can banks individually create money out of nothing?,” by Prof. Richard Werner https://www.sciencedirect.com/science/article/pii/S1057521914001070

(4) “Mommy, Where Does Money Come From?”
https://www.youtube.com/watch?v=S_dBKAWHHQI

(5) Steven Van Metre, “Fed’s Latest Scam to Force More U.S. Debt on Depositors,”
https://www.youtube.com/watch?v=qMpI6rWD4uk

(6) “Wherefore Art Thou, Reserves?”
https://youtu.be/1owSYjIT9og?t=945

(7) “Quantitative Easing Is the Biggest Sham Ever”
https://youtu.be/rDtVABEzcy4?t=275

Having served a Freedom of Information Act (“FOIA”) request on the Federal Reserve on March 22, 2021, BestEvidence now provides this update to relay the Fed’s first communication in response to that request.

The bottom line is that by Friday May 14, 2021, the Fed will either provide the documents sought by the request, or it will cite one or more FOIA exemptions in connection with its refusal to provide those documents. This episode examines both the Fed’s notice and this channel's underlying FOIA request in some detail.

The FOIA request seeks the disclosure of 2009 Fed “staff memos” that discuss the consolidation of the Fed’s books with those of the federal government that would occur if the Fed were to issue bills backed by the full faith and credit of the U.S.

Season 3, Episode 5 references:

(1) June 23-24, 2009 meeting transcript (former Richmond Fed President Jeffrey Lacker “stunned”)

https://www.federalreserve.gov/monetarypolicy/files/FOMC20090624meeting.pdf

(2) 2009 FOMC meetings and associated materials:

https://www.federalreserve.gov/monetarypolicy/fomchistorical2009.htm

(3) WSJ timeline of Lacker’s alleged disclosure story has major problems:

Compare entries for 9/28, 10/2 and March 2013

https://archive.fo/0oUp0

(4) Nanex 1: “Einstein and the Great Fed Robbery”

http://www.nanex.net/aqck2/4436.html

(5) Nanex 2: “Fed News Gets an Internet Kill Switch”

In which we learn that “one or more news organizations secreted the Fed news out of the Treasury Department before 2 PM and loaded it onto servers in trading centers in New York and Chicago. This has not yet been disclosed publicly.”

http://www.nanex.net/aqck2/4473.html

(6) Bloomberg vs. Fed FOIA decision, district court:

https://www.leagle.com/decision/2009911649mfsupp2d2621899

(7) Bitchute channel: https://www.bitchute.com/channel/yQGtlz56XDCB/

(8) odyssey: https://odysee.com/@BestEvidence:b

A new take on the closing of the gold window (at least new to video), and just in time for the 50th anniversary of that fated day…

This episode of Mafiacracy Now shows that the Federal Reserve opened itself up to a massive blast of transparency the very minute it started selling cash and reserves not backed by gold (or anything else of value that the Fed can't freely generate) back in 1971.

The video leverages a recent law review article from an international team of prestigious legal scholars (and a lone economist), which makes the highly compelling case that once the gold window closed, cash and reserves alike ceased to qualify as liabilities—undercutting every central bank balance sheet in the west.

And since those balance sheets have been absolutely larded with sovereign debt for the last year—actually, let's make that "alleged debt” since it has no legal validity in the first place, not when the underlying liabilities fail to qualify legally as liabilities—the public and private debt burdens are being overstated to the tune of roughly $25 trillion across the western world.

Whoops.

And while that's certainly a problem shared by all western central banks generally, the Federal Reserve in particular faces problems that are far worse than that, as this episode—applying the teachings set forth by the stunning law review article—explains.

Indeed if the Fed’s only problem were that its balance sheet overstates liabilities by, oh, $7.3 trillion give or take, it would be easy for the Fed to acknowledge the error of its ways for the last 50 years and reduce U.S. debt figures accordingly.

But alas, that long overdue financial reckoning pales in comparison with the legal nightmare that the Fed now potentially faces, as explained here. Damn. And just as the Fed was planning to launch a central bank digital currency, too...

This is the first of two episodes on this subject. Stay tuned...

References:

Law Review Article: “Central Bank Money: Liability, Asset, or Eq..

Only in post-bailout America could a $16 million-per-year CEO botch a product rollout marketing interview so horribly. Wow.

Original interview:
https://www.youtube.com/watch?v=P6O6FqYYImk

Justice Department announcement of Pfizer’s record-breaking $2.3 billion settlement for fraudulent marketing in 2009:
https://www.justice.gov/opa/pr/justice-department-announces-largest-health-care-fraud-settlement-its-history

The official version of Quantitative Easing, in which the central bank creates reserves and does no more than swap them for assets without any money getting into the economy at large, has entrenched itself as the gospel truth pretty much by default, following 12 straight years without serious challenge. While there are legions of people who SUSPECT that QE is an insiders’ game designed to lard select asset valuations, suspicions and proof are two very different animals.

It’s high time the undefeated-to-date official version of QE faced a decent challenger. Mr. Frazier, meet Mr. Foreman.

In this video, the official version of QE is taken apart at the joint. And while we need a few more minutes alone with the champ than did America’s indoor grilling pioneer back in 1973, the outcome is the same: down goes Frazier.

The difference of course is that while Joe Frazier was a courageous competitor who took all comers, the Federal Reserve and its cronies… well, what kind of “competitors” need a continent-sized cheat like QE to prop themselves up when they’ve already misappropriated their country’s constitutional money-printing power?

Postscript:

For a statistical analysis showing that roughly 1/2 of the S&P500’s valuation is due to QE, see the opening minutes of Episode 1617 of the Keiser Report, “QE Markets and Shale Writedowns”:

https://www.youtube.com/watch?v=5jZA3x1Xwvc

Sources used or referred to:

• Debt by Design, by Joshua Maree (QE covered in Chapter 18)…
https://www.fairmoney.info/pdf/

• “Wherefore Art Thou Reserves?”
https://www.youtube.com/watch?v=1owSYjIT9og

• “Mommy, Where Does Money Come From?”…
https://www.youtube.com/watch?v=S_dBKAWHHQI

• Federal Reserve Total Liabilities graph and data
https://fred.stlouisfed.org/series/WLTLECL

• M2 graph and data
https://fred.stlouisfed.org/series/M2

• Currency in circulation graph and data
https://fred.stlouisfed.org/series/CURRCIR

• “Money Creation in the Modern Economy,” by Bank of England
https:..

Preview of Season 3 of Mafiacracy Now, followed by an explanation of reserves and why they even exist in the first place.

1:22 Season 3 preview
15:45 Explanation of reserves

Season 3 is gonna get into the legal backdrop of money and its history, at least insofar as it relates to the inevitable tectonic shift in our debt-based monetary system, which has arrived at its natural end and is coming apart at the seams as we speak. Rather than scotching the fatally flawed debt-based system of pseudo-money in favor of actual money (with no debt attached), the powers that be are doubling down on the flaw because it affords them control. Any doubts about this got erased during an October 2020 zoom call hosted by the IMF and attended by the BIS (Agustin Carstens) and the Fed (Jerome Powell), in which Carstens did a breathtaking interpretation of Dr. Evil as fantasizes of controlling every transaction on the planet through central bank digital currencies. What? You think this is a joke? Cast your eyes to 24'17" through 26'25" of the video at this link, where the GM of the BIS explains why CBDC is supposedly so superior to cash:

https://meetings.imf.org/en/2020/Annual/Schedule/2020/10/19/imf-cross-border-payments-a-vision-for-the-future

Yikes.

The second half of the video walks through a thought experiment to explain why reserves are absolutely crucial to a debt-based electronic monetary system.

The media's explanations for the coin shortage are so ludicrous that even TV watchers are starting to ask questions, late in the game though they are, and muzzled to boot. The truth is that the kink in the distribution chain is being caused by the Federal Reserve, as is clear from congressional testimony--though notably the Fed Chair himself brought nothing but nonsense, archaic jargon and obfuscation to that hearing.

In any case, the Fed's wholesale takeover of the U.S. continues apace, evidently intent on leaving no penny unturned.

Graphs and science and government overthrows, oh my!

In this episode, we look under the hood of the Fed's massive, three-trillion-dollar expansion of its balance sheet, rationalized by officials as a necessary response to... what else? The pandemic. Fair enough.

But that's not the end of the story. Whenever the Fed creates new reserves to purchase assets, it invariably claims that those reserves don't "leak out" into the real economy. As this video proves, that claim is completely false. It all depends on how the Fed structures the transactions that ensue once new reserves are created and are spent on assets.

If the Fed buys an asset with $100 of reserves, it can structure the transaction so that no money reaches the real economy, or it can structure the transaction so that all of it reaches the real economy in the form of new bankmoney. This year, the Fed chose the latter route 96% of the time,

In other words, the Fed's $2.9 trillion expansion of its balance sheet this year resulted in the creation of $2.8 trillion of new money in commercial bank accounts. Who exactly got that money?

Stimulus checks only total around $0.2 trillion. That leaves more than $2.5 trillion sitting in commercial bank accounts--created by banks to accommodate the Fed--wholly unaccounted for.

Was the creation of $2.5 trillion in commercial bankmoney required by the pandemic too? Or would the Virus have thrown a scary tantrum if the Fed had gone the other way?

Stay tuned. This channel's coverage of the biggest coup d'etat ever--a story largely ignored elsewhere--is just getting started.

LINK to Josh Maree's book, "Debt by Design"...

https://www.fairmoney.info/pdf/

Pay attention to Chapter 18. That's where Josh shows you how the Fed's Reserve Money / Bank Money QE shell game works.

This is the first of as many episodes as it takes to explain the completely unconstitutional theft mechanism in our monetary system known as reserves.

Because reserves are so crucial to the Federal Reserve’s kleptomaniacal monetary system, it really shouldn’t come as a surprise that they are so widely misunderstood. And because reserves ARE so important to the day-to-day functioning of the Fed’s continuous theft machine, this episode goes to special lengths to ensure that reserves and how they function as a con remain memorable for viewers.

Links to materials discussed at the end.

Sovereign Money, by Joseph Huber (2017)
https://www.amazon.com/Sovereign-Money-Beyond-Reserve-Banking/dp/3319421735

Debt by Design, by Joshua Maree (2017)
https://www.amazon.com/Debt-Design-Joshua-Maree/dp/1365756106

Joshua’s website (book download free):
https://www.fairmoney.info

This is the first of as many episodes as it takes to explain how that theft mechanism in the Federal Reserve monetary system known as, well-- reserves--systematically reduces everyone to debt peonage over time, and directly contravenes the rule of law.

Because reserves are so crucial to the privately owned Federal Reserve’s kleptomaniacal monetary system, it should come as no surprise that they are almost totally obscured in that tell-tale haze and din of ginned-up debate. And because reserves ARE so important to the day-to-day functioning of the Fed’s continuous theft machine, this episode takes special pains to ensure that the role of reserves as an unremitting con gets seared into viewers' memories for some time to come.

Links to the materials discussed at the end of the video:

Sovereign Money, by Joseph Huber (2017)
https://www.amazon.com/Sovereign-Money-Beyond-Reserve-Banking/dp/3319421735

Debt by Design, by Joshua Maree (2017)
https://www.amazon.com/Debt-Design-Joshua-Maree/dp/1365756106

Joshua’s website (book download free):
https://www.fairmoney.info

The Pan-depression continues apace, assisted by data-immune “doctors” and chatty central bankers who don't have the decency to wear a bag over their heads--or even a mask--when they say we need to shovel trillions to "the wrong people." Check six, folks, we're just getting started and it's ugly already.

Music: “Soft Focus,” track no. 8 from Beets 4 album by Birocratic

To download Birocratic’s music, visit http://birocratic.bandcamp.com

Licensed under Birocratic License v05.2016. For licensing info: http://www.birocratic.com/license-app

The Fed goes for the whole ball of wax--deciding who gets put to work and who gets jailed. Presented in the bright daylight of a Sunday morning news show, because the criminals in charge know that that's the best place to hide shocking information from a population that lost its capacity TO LISTEN a very long time ago.

Even as the privately owned Federal Reserve is projecting a depression that will make the Grapes of Wrath look like a vacation brochure, it relentlessly continues to lard toxic assets--assets that in the good old days fueled bonus pools larger than many countries, not one penny of which went to the public--onto its balance sheet. Once Mega Depression inevitably wipes those assets out, guess who gets to eat all the losses? Yeah, you do. That's the entire point of our privately owned and operated monetary system, rube--so your life can attain significance through your service as runway foam for your betters to land their jets on once their airborne coke-and-credit orgies invariably return to the ground.

With the world's eyes glued to TV's and smartphones, the U.S. Federal Reserve has quietly added a trillion dollars to its balance sheet. The Fed says it did this in response to Coronavirus in order to help credit flow on Main Street, a grotesque lie exposed as such here.

Music: “Prismatic,” track no. 2 from Beets 2 album by Birocratic

To download Birocratic’s music, visit http://birocratic.bandcamp.com

Licensed under Birocratic License v05.2016. For licensing info: http://www.birocratic.com/license-app

The Pan-depression continues apace, assisted by data-immune “doctors” and chatty central bankers who don't have the decency to wear a bag over their heads--or even a mask--when they say we need to shovel trillions to "the wrong people." Check six, folks, we're just getting started and it's ugly already.

Music: “Soft Focus,” track no. 8 from Beets 4 album by Birocratic

To download Birocratic’s music, visit http://birocratic.bandcamp.com

Licensed under Birocratic License v05.2016. For licensing info: http://www.birocratic.com/license-app

The Fed goes for the whole ball of wax--deciding who gets put to work and who gets jailed. Presented in the bright daylight of a Sunday morning news show, because the criminals in charge know that that's the best place to hide shocking information from a population that lost its capacity TO LISTEN a very long time ago.

Even as the privately owned Federal Reserve is projecting a depression that will make the Grapes of Wrath look like a vacation brochure, it relentlessly continues to lard toxic assets--assets that in the good old days fueled bonus pools larger than many countries, not one penny of which went to the public--onto its balance sheet. Once Mega Depression inevitably wipes those assets out, guess who gets to eat all the losses? Yeah, you do. That's the entire point of our privately owned and operated monetary system, rube--so your life can attain significance through your service as runway foam for your betters to land their jets on once their airborne coke-and-credit orgies invariably return to the ground.

With the world's eyes glued to TV's and smartphones, the U.S. Federal Reserve has quietly added a trillion dollars to its balance sheet. The Fed says it did this in response to Coronavirus in order to help credit flow on Main Street, a grotesque lie exposed as such here.

Music: “Prismatic,” track no. 2 from Beets 2 album by Birocratic

To download Birocratic’s music, visit http://birocratic.bandcamp.com

Licensed under Birocratic License v05.2016. For licensing info: http://www.birocratic.com/license-app

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Created 1 year, 7 months ago.

21 videos

Category Education

BestEvidence seeks to chronicle major financial forces and legal changes behind America's last days as a sovereign republic, as the rule of law is destroyed and the American people are disenfranchised and looted in broad daylight.

In contrast to mass media outlets that rely without exception on propaganda (comprising innuendo, spin, emotion, cropped or partial data sets, agenda-driven conclusions, “expert” opinions from people with undisclosed financial interests, ad hominem attacks—all erected on a divide-and-conquer left-right platform), BestEvidence will present issues based on facts and source data.