2-24-25 ArticleBriefs.com
Title: The Fed, Congress, and the War for Bankocracy by John Titus (solari.com)
Title: The War for Bankruptcy: Bankers' Centuries-Long Control Grab by John Titus (corbettreport.com)
The Corbett Report presents an interview with John Titus, discussing his new series, "The War for Bankruptcy," available on solari.com. Titus argues that central banks, particularly the US Federal Reserve and the Bank of England, have been steadily gaining control over the monetary system for centuries, to the detriment of the general population. The series aims to educate viewers about the legal frameworks enabling this control and the history of central banking. Titus and Corbett explore the importance of public awareness and action to counter the perceived overreach of financial institutions and the role of open-source information in challenging established narratives. The conversation also touches on the cultural forces that have detracted from the issue of the banker's control over society.
Title: The Fed, Congress, and the War for Bankocracy by John Titus (solari.com)
Key Takeaways:
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Congress has the right to obtain any information it seeks from the Federal Reserve1.
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Congress can repeal the Federal Reserve Act with a majority vote, ending the Fed's money coining lease1.
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Independent central banks are defined as those whose governing bodies decide monetary policy without political input, approval, or fear of reprisal2.
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Senator Shelby offered input and disapproval of the Fed's unlimited bailouts for Wall Street policy3.
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Senator Bernie Sanders also offered input and disapproval of the Fed's bailout policy, demanding disclosure of the names of banks that received bailout money3....
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The Fed initially resisted disclosing the names and amounts of bailouts but was eventually forced to reveal them4....
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The White House claim that the Fed decides monetary policy without political input or approval is false5.
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The Fed is under congressional control, not the other way around, according to the US Constitution6.
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The Federal Reserve Banks issued all $2.3 trillion of Federal Reserve notes in circulation as of the third quarter of 20247.
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For every dollar of cash in circulation, there is $7.60 of electronic money in the form of bank deposits8.
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The Fed controls deposits to a great extent, both directly and indirectly9.
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The Fed regulates banks and controls things like the reserve requirement, which it can change without congressional approval10.
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With a 10% reserve requirement, a new bank with $1 in reserves can create $10 in bank deposits10....
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The Fed can control total deposits by changing the reserve requirement11.
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If the Fed increased the reserve requirement to 20%, banks would have to cut deposits significantly by reducing their outstanding loans12....
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The Fed indirectly controls the total level of deposits by controlling interest rates14.
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The Fed can directly control deposits by buying assets from non-banks, as it did during the pandemic15.
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The Fed's purchase of $4.5 trillion of assets from non-banks during the pandemic led to a significant increase in deposits15....
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The Fed has huge control over the $17.5 trillion deposit base and total control over $2.3 trillion in cash17.
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The Federal Reserve controls the U.S. money supply, at least its aggregate size17.
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In 1816, Thomas Jefferson stated that banking establishments are more dangerous than standing armies18.
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The creation of the Bank of England in 1694 enabled banks to usurp standing armies as the most dangerous19.
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The Bank of England was set up so that money was issued as debt to be paid later by posterity20.
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The families and the mints who were issuing coins, they actually had silver and gold and those coins were real21.
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England borrowed paper notes from the Bank of England, which the bank printed out of thin air and then England borrowed those notes from the secret bankers at 10% interest21....
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The Federal Reserve System replicated the debt as money swindle and private and anonymous ownership of the money-issuing machine23.
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The public-owned entity is called the board of governors of the Federal Reserve System24.
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Money is issued by the private Fed entity comprising 12 regional Federal Reserve Banks25.
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The shareholders of these Fed Banks are commercial and retail banks26.
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Congress can obtain any information it wants from the Federal Reserve, even from the privately owned New York Federal Reserve Bank27.
Key words:
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Transparency: Congress has the right to transparency and access to information from the Federal Reserve1....
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Federal Reserve Act: Congress can repeal the Federal Reserve Act, ending the Fed's money coining lease1....
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Independent Central Banks: The White House memo claims that independent central banks govern entire economies, deciding monetary policy without political input2.
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Monetary Policy: The governing bodies of independent central banks decide monetary policy without political input, approval, or fear of reprisal2.
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Bailouts: Senator Shelby and Senator Sanders both offered input on and disapproval of the Fed's bailout policies3.
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Disclosure: Senator Sanders demanded that the Fed disclose the names of banks that received bailout money4....
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Congressional Control: The Fed is a creature of Congress and has no power that doesn't come from Congress5....
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Sovereign Power: The Fed possesses sovereign power through money issuance and credit issuance, delegated by Congress29.
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Federal Reserve Notes: The Federal Reserve Banks issued $2.3 trillion of Federal Reserve notes in circulation as of the third quarter of 20247.
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Bank Deposits: For every dollar of cash, there is $7.60 of electronic money in the form of bank deposits8.
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FDIC: According to the latest FDIC statistics, there are 4,500 banks in the U.S. sitting on $17.5 trillion in deposits8.
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Reserve Requirement: The Fed regulates banks and controls things like the reserve requirement, which it can change without congressional approval10.
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Bank Reserves: A new bank with $1 in reserves can create $10 in bank deposits with a 10% reserve requirement10....
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Money Creation: Banks create money when they lend, and deposit money gets deleted when loan principal gets paid back11....
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Interest Rates: The Federal Reserve controls the total amount of new loans by controlling interest rates14.
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Asset Purchases: The Fed can directly control deposits by buying assets from non-banks, as it did during the pandemic15.
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Inflation: The Fed bought 4 and a half trillion dollars of assets from non banks, and deposits rose to $18 trillion and that's where your inflation came from15....
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Silicon Valley Bank: A Silicon Valley bank failed because the bank had 10 customers with $13,000,000,000 on deposit, and those customers walked out over the course of six hours30.
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Money Supply: The Federal Reserve controls The US money supplies at least it controls its aggregate size17.
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Standing Armies: Thomas Jefferson said banking establishments are more dangerous than standing armies18.
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Bank of England: The creation of the Bank of England in 1694 enabled banks to usurp standing armies as the most dangerous19.
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Debt-Based Money: The Bank of England was set up so money was issued as debt to be paid later by posterity20.
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Free Coinage Act: The Free Coinage Act passed, allowed for the private meaning of sovereign coins20.
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Private Money Issuance: England had anonymous bankers behind the Bank of England, printed notes instead21.
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Usury: There is no risk whatsoever to the Bank of England Corporation and that £100,000 interest payment is pure usury31.
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Federal Reserve System: The Federal Reserve System replicated the debt as money swindle, and it replicated the Machiavelli piece, which is private and anonymous ownership of money issuing machine23.
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Board of Governors: The public owned entity is called the board of governors of the Federal Reserve System24.
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Regional Federal Reserve Banks: Money is actually issued by the other private Fed entity comprising 12 regional Federal Reserve Banks25.
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European Central Bank (ECB): Unlike the European Central Bank, which is an independent entity, the Federal Reserve is not and cannot be independent of Congress32.
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Treaty of Maastricht: The ECB was created by treaty among many nations, not by the act of a single nation33.
Summary
This source, from John Titus's "War for Bankocracy" series, delves into the contentious relationship between the Federal Reserve, Congress, and the concept of "bankocracy," which suggests governance by independent central banks. Titus scrutinizes the Biden White House memo's assertion that independent central banks govern nations, arguing this is both legally and factually inaccurate in the US context. He highlights the Fed's considerable power over the money supply and banking system, tracing its origins back to the Bank of England and its model of debt-based money issuance, but emphasizes that the US Constitution grants Congress ultimate control over the Fed, a crucial distinction from the European Central Bank (ECB). The series ultimately argues that the Fed's pursuit of "independence" is a quest for secrecy and unchecked power, urging Congress to actively oversee the Fed to prevent it from becoming an unchecked authority.
Title: The War for Bankruptcy: Bankers' Centuries-Long Control Grab by John Titus (corbettreport.com)
Key Takeaways:
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The war for bankruptcy is a multi-century effort by bankers for control34....
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Bankers have been gaining more and more control for over three hundred years and are getting close to sealing a deal34....
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The monetary system divides people into two types: those who borrow money into existence and a small percentage who create money out of thin air and lend it at interest35.
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Central banks are at the top, and retail banks are beneath them, with central banks calling the shots36.
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When banks create money out of thin air, it's not technically money; it's really debt36....
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When you deposit money in a bank, you don't own it anymore; you're now an unsecured creditor37.
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The series is designed to educate and bring up to speed people who may have questions about what's going on37.
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Central bank independence is a term that sounds innocuous but has significant implications38.
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The theory of central bank independence is that if the government and people leave the bankers alone, they will achieve better economic results38.
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When Congress gets involved, like it did in the wake of the global financial crisis, you get good results because it reigned the Fed in39.
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During the pandemic, Congress sat on its hands and didn't ask questions, leading to the Fed buying $5 trillion of assets from non-banks and creating inflation40.
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Federal Reserve Independence is a pitch to do away with transparency, saying don't ask any questions41.
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The series is being released on Solari.com to protect it from being yanked out from under and vanished42.
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The series is also meant to be a foundation for other creators and researchers to build on43.
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Episode two really is the the history of Apex sovereign power44.
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For a long eons of of world history, it was really the military that was that had the power44.
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By the founding of of The US, banking establishments were firmly in control throughout the West45.
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The key event was the founding of the Bank of England45.
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The Bank of England really brought about a debt based money on the national level45.
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Once you're borrowing your money into existence, you've given the bankers a ton of control46.
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All the banks gotta do to shrink the money supply is call in the loans46.
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The bankers call on the loans. They shrink the money supply47.
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In 1929. the money supply shrinks from about 30% in in four years from 1929 to 1933, because of the bankers call on the loans47.
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Putting sources out there, information is now more freely available than it has ever been in the entirety of human history48....
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Episodes one through four are really the Fed and really The US50.
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Episodes five through seven: we then we go into, overseas in in the England, and we go into some history50.
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Episode eight comes back to The US and says, where are we now? What do we need to do?50.
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Western governments generally are at their best when the people are engaged and involved and, frankly, kinda angry51.
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You really wanna exert pressure on your government through Freedom of Information Act request52.
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Powers that be found a winner during that damn pandemic with fear53.
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The substack so you should be able to find John Titus, I think, pretty quickly if you go on to YouTube, honestly, bitchy with John Titus, you'll track me down pretty fast54.
Key words:
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War for Bankruptcy: The war for bankruptcy is a multi century effort by bankers for control and, eventually, they've been getting more and more control for over three hundred years, and they're getting close to sealing a deal34....
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Control: Bankers have been getting more and more control for over three hundred years and are getting close to sealing a deal34....
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Monetary System: Our monetary system divides into two types of people: those who borrow our money into existence, and a small sliver of .1% or probably really .05% of people who can create money out of thin air and lend it out to everybody else at interest35.
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Central Banks: Central banks are at the top, and then retail banks are beneath them36.
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Debt: When banks create money out of thin air, it's not technically money. It's really it's really debt36....
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FDIC Insurance: You need FDIC insurance at your bank because you have a hundred dollar bill in your hand; you own that hundred dollar bill until you deposit in your bank37.
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Unsecured Creditor: When you deposit in the bank, you don't own it anymore. You're now an unsecured creditor and that's a legal transaction, and that part isn't really understood37.
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Central Bank Independence: A new memo has been released that strikes an interesting note on a very specific term that sounds so innocuous, central bank independence38.
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Policy Experts: The theory of central bank independence, the propaganda campaign of central bank independence is you leave us if you, the government, you, the people, leave us, the bankers, the experts alone, you'll achieve better economic results38.
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Monetary Policy: If politicians get involved in in monetary policy, you're gonna get wild inflation, you're getting all these bad results39.
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Global Financial Crisis: When congress gets involved like it did in the wake of the global financial crisis, you get good results because it was congress and it was really the anger of the American people that reigned the fed in39.
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Pandemic: During the pandemic, the Fed buys $5,000,000,000,000 of assets from non banks, and it creates inflation40.
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Transparency: That whole notion of Federal Reserve Independence is nonsense and what it really is, it's a pitch to to to it's a pitch to do away with transparency41.
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Solari.com: The war for bankruptcy is a new multi part series coming out through Solari.com55.
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Apex Sovereign Power: Episode two really is the the history of Apex sovereign power44.
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Military: For a long eons of of world history, it was really the military that was that had the power and if you had the guns and you had to steal, you know, you you you rule the roost44.
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Banking Establishments: By the founding of of The US, banking establishments were firmly in control throughout the West45.
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Bank of England: The key event along the way was the founding of the Bank of England45.
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Debt Based Money: The Bank of England really brought about a debt based money on the national level, not on on a on a wholesale level and on a national level45.
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Loans: If you need a loan to create new money, which you pretty much do in our system, and you've pretty much needed to do for three hundred years, all the banks gotta do to shrink the money supply is call in the loans46.
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Money Supply: The money shot money supply shrinks from about 30% in in four years from 1929 to 193347.
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Ben Bernanke: Ben Bernanke admitted that the fed caused the great depression, but we won't do it again47.
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Anna's Archive: James Corbett did an episode on, like, solutions and research and where to go to get research and one of the ones he put out there was Anna's archive56.
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Open Source Exploration: This entire conversation and your entire series is is the the really the the culmination of the idea that I've had for open source exploration for so long48.
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Freedom of Information Act: You really wanna exert pressure on your government through Freedom of Information Act request52.
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Tea Party: And both of those completely subsumed into this culture war nonsense that has totally diverted it from the the fact that, hey, it seems that people on the left and the right totally agree on this against the bankers and against Wall Street.One on the right, the Tea Party,57.
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Occupy Movement: The woke culture or identity, culture war nonsense that that has absolutely subsumed every other political story is a result of that 02/2008 backlash that you're talking about, which gave rise to two populist movements. One on the left, the Occupy Movement57.
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Ron Paul: There is an incredibly fascinating history of the past fifteen years that can and should, and maybe I'll write it myself, but should be written on the, the the cultural history of the past fifteen years and the woke culture or identity, culture war nonsense that that has absolutely subsumed every other political story is a result of that 02/2008 backlash that you're talking about which gave rise to two populist movements57.
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Fear: The powers that be later on found a winner was during that damn pandemic with fear53.
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Best Evidence: Everything I kinda do, I do under a label best evidence and I have a YouTube channel called best evidence, an Odysee and a Bitchute channel called best evidence, and a substack called best evidence58.
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Substack: John Titus started that substack late in the in my video game and because of YouTube shenanigans, I was like, you know, I should really have sort of a go to home base, and and stop wasting you know, I'm working for free for YouTube writing these58.
Congress has the power to repeal the Federal Reserve Act with a majority vote, effectively ending the Fed's "money coining lease." While the Fed can be secretive for a while, Congress has the right to seek whatever information it needs from the Federal Reserve.
Independent central banks are institutions whose governing bodies decide monetary policy without political input, approval, or fear of reprisal. However, John Titus argues that this view of central banks is factually incorrect because the Fed is subject to political input.
The Fed indirectly controls bank deposits by regulating banks and controlling things like the reserve requirement. In addition, the Fed can influence the level of deposits by controlling interest rates.
In 1520, Machiavelli believed the military held the most power because "men and steel find money and bread, but money and bread don't find men and steel." He thought soldiers could take money from bankers.
Thomas Jefferson believed that banking establishments are more dangerous than standing armies. He argued that spending money to be paid by posterity in the name of funding is but swindling futurity on a large scale.
The Federal Reserve System replicated two crucial aspects: the debt-as-money swindle, and private and anonymous ownership of the money-issuing machine. Both of which were foundational in the original creation of the Bank of England.
The two entities are the public Board of Governors of the Federal Reserve System and the 12 regional Federal Reserve Banks. The Board of Governors plays an oversight role, while the privately owned regional banks issue money in the form of debt.
The ECB is legally independent of EU member states and is not supposed to take instructions from them, whereas the Fed is a creature of Congress. To get rid of the ECB, treaties must be amended, whereas to eliminate the Federal Reserve, the Federal Reserve Act can be repealed with a majority vote.
Secrecy is the key to the Fed's power. The Fed argues for independence from Congress to achieve better economic results, appealing to Congress's pocketbook.
The US is governed by whoever has monetary control, and the apex sovereign power is with the Federal Reserve. Without the constitution, the US would have done in 1913 what Europe did in the nineties, which was give a nuclear weapon to criminals.
Bank of England: A central bank established in 1694 that served as a blueprint for future central banks and introduced a debt-based money system on a national level.
Central Bank Independence: The idea that central banks should be free from political interference in order to achieve better economic results.
Congress: The legislative branch of the U.S. government, which has the power to create and regulate the Federal Reserve.
Debt-Based Money: A monetary system where money is created as debt through loans, requiring interest payments.
European Central Bank (ECB): The central bank of the Eurozone, which is legally independent of EU member states and not supposed to take instructions from them.
Federal Deposit Insurance Corporation (FDIC): This independent agency of the U.S. government protects the funds of depositors by insuring deposits in banks and thrift institutions.
Federal Reserve Act: The legislation that created the Federal Reserve System in 1913.
Federal Reserve Banks: The 12 regional, privately owned banks that comprise part of the Federal Reserve System and issue Federal Reserve notes.
Federal Reserve Notes: The paper currency issued by the Federal Reserve Banks, commonly used as cash in the U.S.
Federal Reserve System: The central banking system of the United States, composed of the Board of Governors and the 12 regional Federal Reserve Banks.
Free Coinage Act: Passed in 1666, the act allowed for the private meaning of sovereign coins.
Machiavelli: Author of The Art of War. Said, "Men steal money and bread are the sinews of war."
Reserve Requirement: The percentage of a bank's deposits that it is required to keep in reserve, either in its vault or on deposit at the Federal Reserve.
Thomas Jefferson: An American Founding Father who believed that banking establishments are more dangerous than standing armies and that privately and anonymously issued debt based money is the dangerous swindle.
Transparency: The extent to which information about the Federal Reserve's operations and decision-making is available to the public and Congress.
Summary
This source is an interview on The Corbett Report with John Titus, discussing his new multi-part series, "The War for Bankruptcy." Titus argues that bankers have been engaged in a centuries-long power grab, aiming to control the monetary system. He contends that central banks, like the Federal Reserve, are at the forefront of this effort, creating an uneven playing field where they can create money while the rest of society borrows it into existence. The series aims to educate the public on this issue, covering historical context, the legal framework involved, and the implications of "central bank independence." Ultimately, Titus hopes to empower individuals to understand and push back against this system, advocating for transparency and greater public engagement.
Briefing Document: "The Fed, Congress, and the War for Bankocracy"
Overview:
This briefing analyzes excerpts from John Titus's "The War for Bankocracy" series and an interview on The Corbett Report discussing the same. The central theme revolves around the power struggle between Congress and the Federal Reserve (Fed), arguing that the Fed's "independence" is a dangerous proposition that undermines constitutional principles. The series aims to educate the public on the history and legal aspects of central banking, highlighting how control over money issuance has shifted from the military to private banks, and the potential for this power to be abused. The core argument is that the Fed's secrecy and operational structure allow it to exert undue influence on the U.S. economy, and that Congress must actively oversee the Fed to prevent it from becoming a rogue entity.
Key Themes and Ideas:
Constitutional Authority & Congressional Oversight:
The core argument is that the U.S. Constitution grants Congress ultimate authority over monetary policy. The Fed is a "creature of Congress" that rents its money-coining power from the government.
Quote: "The Fed is like someone who rents a house. Congress can choose not to renew, the Fed's money coining lease simply by repealing the Federal Reserve Act with a majority vote."
The series aims to demonstrate that Congress can and has exerted control over the Fed, particularly during crises.
Quote: "What prevents the Fed from operating in total darkness and from having unbounded control over the entire country via the monetary control is The US constitution."
The Myth of Fed "Independence":
The series challenges the notion that the Fed should be "independent" from political influence.
The claim that independent central banks govern economies is challenged by the fact that Congress and senators influence the Fed monetary policy.
It argues that the pursuit of independence is really a push for secrecy, which enables the Fed to operate without accountability.
Quote: "Federal Reserve independence is not good for the country. It is poison. Congress has to vigilantly and constantly check the Fed's power or else risk having two kings in a kingdom."
The Power of Money Issuance & the Shift from Military Control:
The series argues that control over money issuance represents the "apex sovereign power."
Historically, the military held this power (Machiavelli's perspective), but the creation of central banks, particularly the Bank of England, shifted this power to private bankers.
Quote: "By 1816, Thomas Jefferson... said banking establishments are more dangerous than standing armies."
The establishment of Bank of England in 1694 changed who controlled the power, moving away from the military and toward the bankers.
The "Swindle" of Debt-Based Money:
The Bank of England introduced a critical element: issuing money as debt to be repaid by future generations, a practice Jefferson termed a "swindle."
Instead of printing money directly, governments borrow it from private banks at interest, creating a perpetual cycle of debt.
Quote: "Spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale."
Privately and anonymously issued debt based money is the dangerous swindle that Thomas Jefferson was referring to.
The Fed's Control over Money Supply and Bank Deposits:
The series delves into the mechanics of how the Fed controls the U.S. money supply, both directly (through cash issuance) and indirectly (through reserve requirements, interest rates, and asset purchases).
It claims the Fed's asset purchases during the COVID-19 pandemic directly created inflation by increasing the deposit base.
The Fed controls total deposits through reserve requirements.
Secrecy and Anonymous Ownership:
A key concern is the private and anonymous ownership structure of the regional Federal Reserve Banks.
The actual owners of these banks are hidden behind layers of corporate ownership, making it difficult to hold them accountable.
This echoes the model of the Bank of England, where ownership was deliberately obscured.
Quote: "You have no way of knowing if there are two or three or 12 dominant people or dominant families who actually own the Federal Reserve Banks that are issuing US money."
Lessons from Europe and the ECB:
The series contrasts the Fed with the European Central Bank (ECB), which is even more insulated from political control.
The ECB is legally obligated not to take instructions from EU governments, highlighting the dangers of unchecked central bank power.
Quote: "Unlike the European Central Bank, which is an independent entity, the Federal Reserve is not and cannot be independent of Congress. It is a creature of Congress under the constitution."
The Political Manipulation of the Fed
The series claims the political figures and entities manipulate the way the economy is percieved.
Call to Action & Citizen Engagement:
The series ultimately aims to empower citizens to demand greater transparency and accountability from the Fed.
It emphasizes the importance of public engagement, congressional oversight, and using tools like Freedom of Information Act (FOIA) requests to hold the Fed accountable.
Quote: "The US and, really, western governments generally are at their best when the people are engaged and involved and, frankly, kinda angry."
The series challenges the view that the Fed has any independence and encourages transparency.
Quotes to Remember:
"Banking establishments are more dangerous than standing armies." - Thomas Jefferson
"Federal Reserve independence is not good for the country. It is poison."
"What prevents the Fed from operating in total darkness and from having unbounded control over the entire country via the monetary control is The US constitution."
"The war for bankruptcy is a multi century effort by bankers for control."
Potential Areas for Further Investigation:
The specific legal mechanisms by which Congress can exert greater control over the Fed.
The identities of the actual owners of the regional Federal Reserve Banks.
The historical instances where public pressure has successfully influenced Fed policy.
The potential reforms that could make the Fed more accountable and transparent.
This briefing provides a foundational understanding of the key arguments presented in "The War for Bankocracy." The series promotes transparency and accountability in the financial system, arguing that these are essential for preserving democratic principles.
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