Crash Course: Chapter 9 – A Brief History of US Money by Chris Martenson
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Chapter 9 (A Brief History of US Money): Beginning with the panic of 1913, this chapter touches on important events in the history of US money, such as the creation of the Federal reserve, fdrs confiscation of private gold, the Bretton Woods agreement, and Nixons slamming of the gold window. We learn that the current international monetary system of unbacked currencies is only 37 years old, and is operating outside of the standards established by the Bretton Woods agreement. The system were operating within has not been planned or designed: it emerged out of a crisis. Dr. Martenson also provides graphs of total US Federal Debt, and Total US money stock, both of which are growing with no end in sight. www.chrismartenson.com
how do u know it wasnt planned? sound engineered to me
i think what hes saying is jp morgan didnt intend for nixon to open the gold window, certainly they each saw unique opportunities for themselves, but each was acting on his own, driven by motives concerning only himself. It would take a very unique sort of person to delicately construct a plan he would never witness, and thus it is unlikely to have happened, though by no means impossible
I disagree with te comment near the end of this segment… “This wasn’t planned. It just worked out that way.” BULLSHIT! It was completely planned, expertly orchestrated!
You obviously don’t get it must be a one eyed conservative
Scary stuff. Now you know why they do what they do in secrecy. They are hiding more from other countries than us.
@treetorn (I apologize in advance if your comment was actually a response to something earlier, I can’t tell…)
The real problem is our currency, what the hell are you thinking? Did you even watch the film?!?!
The government is only responding to the desires of it’s creditors – the Federal Reserve and International Bankers. They OWN the government – fully bought and paid for, so the government works for THEM not the people.
If the creditors say “we need you to spend more” … translation BORROW more, then the government does what it’s told. It’s not OUR government anymore unless we take it back.
The real problem is government spending. It is out of control government spending that causes governments to go off the gold supply so that government can afford to spend money, because it can not take or borrow enough.
Cosmos, I totally agree with you. The politicians talk from both sides of their mouths. Jobs, 24 million, is the last number I heard has been outsourced oversea’s. American’s have been introduced into a work, then come home tired, for entertainment, sports, video games, etc., in the meanwhile few paid attention of what was really in the making. I am a baby boomer w/ 4 grandchildren and am teaching them govt. Please ck out on utube-Grassroots -Let’s Live For Today from 1967 mindset Peace.
@perspektuv
What I was trying to say is they believed the government was doing the right thing. They were very ignorant to the fact that the government was simply hosing them.
Most politicains have no conscious at all. They lie and wouldn’t loose a minute of sleep over it.
Most of them cycle back and fourth from government to big corporations.
These Elitists goals are to keep as much of the real wealth and power to them selfs. We need to wake up to this and stop feeding the system.
Cosmos, I can only speak of how I perceive my grandparents living conditions in rural KY on farms and grandfather who immigrated from Bohemia in 1887 as a young boy. I don’t believe they were pushovers, they too were skeptical of the banking system. They lived in homes without electricity, running water, no automobiles, no television or INTERNET! My dad paid cash for everything – even his home to avoid paying interest to banks. More people need to do this, plan ahead, and not “buy” into it.
Question – as our population has increased and our currency was no longer backed by gold (1967 – Nixon) – would prices, wages and property values decreased or would the supply of gold have to increase to back the currency in circulation?
Chris may think that the current system was not planned but these scenarios are precisely the reason for establishing a central bank in the first place. The particular details of the workings of a economic system may be young, but the big picture game they’re playing is as old as Babylon
The Loserferians know well the club they belong to. It’s the same ancient club of the few who with authoritarianism, rule over & enslave the masses into producing for the larger benefit of the club. The
Babylonians did it. The Pharaohs held the scepter of power in 1 hand & the whip of forced will in the other. Then the Greeks & then the Romans perfected the ruthless Marxist Loserferianism. Currently, the British empire finally reeled her colonies back in after epic struggles with Jackson & Lincoln, with the establishment of the FuckYouAll Reserve & the Internally ReamingYou Disservice. Accomplished through a partnership with America’s very own Industrial Revolution Fat Cat Benedict Arnolds
Our great Grandparents were a bunch of push overs, heck we are.
At 6:39 I think Chris is wrong. This was planned they are not stupid. They know what their doing and have done this many times.
3v3ry 1 1z 2 $m4rt YouTOoB 1z 4 teh l0lz
3v3ry 1 1z 2 $m4rt YouTUBE 1z 4 t3h l0llzz
5:15 – 6:05
Hyperinflation is not a necessary outcome.
Why couldn’t they do the same with the Fed, as they’re doing with healthcare right now? They could blame the failure of the Fed on the market, just like they’re doing with the hyperregulated medical cartel that they’ve run since the 1940s, and use the general outrage as impetus to create a new fiat currency monopoly.
There’s plenty of historical precedence for states moving from one doomed fiat currency to the next, so it is a possibility.
if your referring to the Canadian dollar i do know for a fact during September of 2008 the candian dollar was worth about 9cent more than the American dollar. I only know this because I went to Niagara falls .
Well I’m sorry I’ll admit that I’m not an “expert” on monetary policy or history. But i do understand that there is an increase in the demand for money as the population grows and the economy expands but there is no increase or expansion in the availability of gold since the last great goldrush in 1849. How can a stagnant gold supply compensate for the increase in demand for money (That need more gold to back up the newly created money)? by the way I have no idea what a Keynesian is! lol
Notice that at 320 he mentions that due to the increase of the money supply by the Fed the dollar value went down as there was not enough gold to back the money supply. Also, the fractional reserve system would also need to be amended alongside the reinstitution of the gold standard, which would severely curtail the money supply.
Are you a free market advocate, or are you a keynesian? I am going on the assumption that you are a free market advocate of good-will that just happen to take the monetarist or supply-side view of monetary policy. You seem to lack the vitriol, and posses a greater amount of reason than possesed by a keynesian statist.
You seem to be completely lost on this issue. How could the gold standard have caused this in the forties if the gold standard itself was indefinitely suspended domestically in ’33? And it is not the amount of gold backing a dollar that wuld change but the number of dollars per ounce of gold, i.e. price per unit. Would you be willing to read Mr. Rothbard’s tract and then question me? I have been meaning to read it again myself.
so if the amount of gold backing a dollar could be decreased/increased then thewhat advantage would be gained when the amount of gold in the reserves can no longer be split into anymore smaller partition and the populations demand for money is higher than the availability of gold? What are the banks suppose to just quit creating money ? without the ability to create new money the ever expanding economy would become stagnant as a result of shortage of money. Because this what happened in the 40′s