Money For Nothing, This is the crisis we have to worry about.

I want to show you this documentary, I hope you enjoy it, please, take a few minutes to see it, you're not gonna regret it, and if you find this useful, inform others, even if you've already seen it.

Here is the documentary, in case you want to read a summary please continue reading this post.

This is the second documentary that I've posted here, I'll post all of the films that are going to help you understand the situation which we are right now. This film contains interviews with a lot of people that works and worked for the Federal Reserve Bank, so I see this information very valuable and worth spreading, It really helped me a lot in taking better decisions.

Jim Grant opens the video with this quote: The Dollar is the most remarkable achievement of the History of Money, think of it. This piece of paper costs nothing to produce, there's nothing behind it except the good will of Ben Bernake and the U.S. Congress, this piece of paper somehow still commands value and respect. How can the Dollar be anything except the world's greatest monetary brand, the Coca Cola of money, how can it be? Well, you just watch.

Alice Riviln pointed out: "We failed to regulate the most important part of our financial system." (min 4)

Tim Boeckh indicates: "This is an experiment, we have never been here before" (min 7)

The comment of Raghuram Rajan it's really important: "We have big countries going down, unable to save the system and collapsing, that's the crisis we have to worry about"

It all started with the Panic of 1907

That ocurred mainly because banks lended a lot of bank notes that weren't backed with gold, so when people went to withdraw their gold most of the banks closed and went bankruptcy.

So in 1910, Senator Nelson Aldrich

had a secret meeting with some of the wealthiest men at that time,

Paul Warburg

Frank Vanderlip

Henry Pomery Davison Who worked for J.P. Morgan, yes, that J.P. Morgan that wanted to control politics since 1800s, if you don't believe me, see this other documentary: Min 28

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In the picture below, you can see that Aldrich's daughter was married to one of the members of the Rockefeller family. Please right click on the image and open it in another tab to see it better.

Returning to our main topic:

Was actually Woodrow Wilson who proposed what I consider was an ingenious compromise that we have to pay today, "Descentralized Central Banks", there are 12 Federal Reserve Banks in the U.S. Congress created the FED to forge a better monetary system, but it has just created so many crisis and disparity between people.

In 1914 when WWI started, the great powers of Europe abandoned the gold standard to finance the war, and with Britain in bankrupt and Germany suffering from hyper inflation, the U.S. and with its new Federal Reserve emerged and with its gold-backed currency became the world's greatest currency.

The U.S. became the financial leader of the world almost overnight. After the WWI U.S. economy bloomed and the FED realized that could use its influence not just in times of panic and then Monetary policy was born.

Bill Poole breaking down monetary policy: If you or I run printing presses in our basement is counterfeiting when the FED run the electronich printing press is Monetary policy

In the 20s whe have our first FED-induced boom and bust, the FED lowered interest rates and fueled financial Bubbles, and the speculators began to borrow more money than the actually the amount that was in circulation, the the FED aggresively raised the interest rates in 1928 setting the stage for a reccesion and the stock market crash

The mistake then was the great depression, now the mistake is the great inflation

After WWII in 1944 came the Bretton Woods System, the U.S. Dollar was tied to gold and all the other currencies of the world were tied to the dollar, the FED became the bank of the World.

Then in the next crisis the problem wasn't too litte money but too much.

During the Vietnam War, goverment increased spending, making the prices in U.S. grow even higher, the in the 70s in the Nixon administration, U.S. abandoned the Gold Standard because of the increasing monetary base.

An then began the modern age of inflation For the first time in history, the dollar was just a piece of paper
After that the dollar lost a lot of purchasing power, the cost of living was double

Inflation was increasing and unemployment also was increasing, that wasn't suposed to happen, after the 70s the there were a lot of inflation and fear of unemployment

Please, see the second part of the post (posting soon)

Also take a look to this other posts, with more information about the crisis we are about to enter.

https://steemit.com/steem/@joiflores/how-the-system-works-part1-inside-job

https://steemit.com/steem/@joiflores/how-does-the-system-works-part2-inside-job

Thanks