Want to understand the financial crisis? Learn how $$ is created out of thin air.
Thanks to Peter Joseph for taking the time to make this necessary and informative feature.
Watch on Google, download as a Bittorrent (it's OK! - it's free), or buy the DVD for $5.
Here's the link:
Now you'll understand why George W. Bush encouraged everyone to "spend" after 9/11, added the "stimulus package" (now being considered for a second time in the same year) and how it finally all caught up to us - and slit this Republic's throat.
Andrew Jackson, the 7th President of the U.S.A. was the last time in American history (1835) when when the Federal Government had its National debts paid off (technically down to only $33,733.05). He also tried to abolish the Electoral College, citing its inherent unfairness to a Democratic Republic, and for the popular vote to trump that of any weighted system of voting - which we still have - allowing one with more popular votes to still lose in the Presidential election. He also wanted to limit the office of the President and VP to only one term, so as to limit corruption. He had this to say about the formation of the "Central Bank," which he abolished:
The bold efforts of the present bank has made to control the Government...are but premonitions of the fate that awaits the American people should they be deluded into a perpetuation of this institution, or the establishment of another like it.
His victory was short-lived, only to have it be replaced by the Federal Reserve in 1913. It is neither run by the Federal Government (it is private), nor does it Reserve anything of value (silver, gold, diamonds, etc.) - it simply issues paper "money" that is a "Reserve" note equivalent to stock in the Federal Governent (also worth nothing, it's equivalent to "Monopoly" money). As long as this institution exists, there will ALWAYS be debt, it's just the way it works.
He also tried to abolish the Electoral College, citing its inherent unfairness to a Democratic Republic, and for the popular vote to trump that of any weighted sytem of voting. This allows for one with more popular votes to still lose in the Presidential election. The election of 2000 was an exception, because although Al Gore did win the Popular Vote and Electoral College, the clusterfuck in FL allowed the U.S. Supreme Court to select the President - for the first time in our history. Needless to say, the Supreme Court consists of mostly conservative Republicans at present.
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