Notes by O C Sure -- "What is the Fed?"

0:00 What is the Fed? What is the Fed? What is the Fed? What is the Fed? The Federal Reserve, often referred to as the Fed, is the central bank of the United States. [ This is false. A bank receives deposits of money from customers. The customer may agree to have their deposit aggregated with other customers who also agree to the aggregation and the subsequent lending of their money to another kind of customer of the bank; a borrower. The bank acts as a broker between lenders and borrowers. The incentive for the customer of the bank as lender is to lend their money now in order to later receive more money back then they lent. The incentive for the customer of the bank as a borrower is to pay back more money later than they borrow in order that they may have it at all now. The incentive for the bank is to broker sellers and buyers of money so they can keep a small portion of the money paid back before it is returned to the lender.

It is in everyone’s interest that the best possible choices are made so that everyone is satisfied with their part in this practice. Therefore, the nature of banking is Risk Assessment as the means of vesting money in projects most certain to be a success in the interest of all involved; the lender, the broker, and the borrower. Not only is this a win-win-win endeavor but it is a win-win-win-win! The fourth win is to whomever was appropriately served by the borrowers allocation of the money as evidence that the borrower returned the principal and interest. This is banking. This is customer satisfaction. However, what I have just describe is not the endeavor that the Fed practices. To the contrary, the Fed is engaged in Risk Removal. Fed does not represent banking but the contrary to banking ]

0:17 Congress created the Fed in 1913 to help promote a safe and sound monetary and financial system for our nation. [ This is the third federal bank established for the government of the United States. The first two failed much faster. The First [Federal] Bank was established in 1791 for a defined term of 20 years. Its purpose was as a repository for federal money. The Second [Federal] Bank was established in 1816 and Andrew Jackson terminated it on September 10th, 1833. Rather than act as a repository of federal money, it became source of political corruption and oligarchical power. The Third [National] Bank still exists as an extreme variation of the Second. Its longevity is attributed to the nature of the corruption combined with the omnipotent indoctrination and bad rhetoric disseminated by a public “education” system and communications technology. The multitude of citizens, although so much larger and spread out are closer than ever and thus easier to control via rhetoric.

If we suppose that the First bank for 20 years was unlike the Second and Third in that it was a repository for the federal government and not a monopoly on the industry, then of the 234 years that the States have been constituted, for 130 years there has been a monopoly of the industry and for 104 years the industry was free from any intervention of a monopoly.

Counterfeiting is not banking. A system of organized theft and robbery is safe and sound for whom? During which period of time, the 130 years or the 104 years, did the mean condition of the constituted people, the middle, grow the fastest and succeed the most? During which period or time, when there was a monopoly on the the industry of banking or when banking was not a monopoly, did the mean condition not flourish as well but was accompanied by greater concentration of wealth in the few and less in the many? Oligarchy can be good if it is honest but is counterfeiting honest?]

1:00 Today the Fed performs a number of important functions all with the ultimate goal of promoting a healthy US economy. [ It’s good to have goals! Which economy was healthier? The one for 130 years under a monopoly or the one for 104 years free to choose? As a customer, if your service provider is not meeting its goals and you are not satisfied, wouldn’t it be good to choose a better provider than to keep getting bad service? Do you have that choice under a monopoly? ]

Source post: https://www.youtube.com/watch?v=wLyh5fSTLLw&feature=youtu.be

Notes continued in the comments