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Jacque Fresco - Banks, Debt, Fed

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We have lots of material to build one, we have the factories, so we went in a debt. See? Debt is not as natural as you own to the banks. The federal government is not allowed to print money, is not allowed to lend money or giving the banking prisoners. That is a privilege for bankers only. So, what government has to do when they want to build and air force, say 2000 planes a month, they have to borrow money from a private lending institution, sign that dotted line, and if the war is lost or failed, the on the public, to pay off that debt. That is how banks work. That is why many good americans, including Lindbergs and their father, who was at the time, i believe, the senator of our congress, i'm not sure. Was the senator. But anyway, we advocated building national bank, in which was the public owned it. And all of the profit would go toward schools, housing, education, instead of private banking institutions. But the bank of England, England needed money to fight the Poland. But they only get that money from banks when having a sign agreement, that after the war, that banks would be the only money lenders around. That the government couldn't compete. You know that? So, they were forced into that crap. Banking institution is one of the most corrupt in the world. They can lend out much more money than they have in reserve. So, in other words... So, money is based on debt, in this point. Anytime. Yes, people said, what we will going to do with the criminals? I said... subscribe... thanks!

Video Details

Duration: 1 minute and 55 seconds
Country: United States
Language: English
Producer: The Venus Project
Director: The Venus Project
Views: 71
Posted by: ltiofficial on Oct 12, 2012

In these outtakes from "Future by Design", Jacque talks about banks, debt, and 'the fed'.

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