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My conversation with a bank teller

So I had to go into my bank today to do some budgeting and paying my bills; I live in Canada so our banking system is slightly different but its the same considering the private monopoly over our money. Instead of a central private bank controlling our money we actually gave that power to the smaller private banks, the equivalent to America's BoA, Chase, First National and so on. Once inside the RBC branch I was banking in, my conversation went something like this.

Me "excuse me but do you mind if I ask you a very serious question while you work"

Teller "Not at all"

Me "How would you feel if their was a private company that dealt specifically with the finances of our country Canada; this private company had the power granted by our government to create our money out of thin air, holding no reserves. They then would loan this created money out with interest sometimes compounded interest, you know what that is right?"

Teller "Yes, hey that sounds like counterfeiting? where are you going with this"

Me "I'll let you know right away, back to my question. With this power to create our money basically with the stroke of a pen they are able to insert money into our money supply causing it to increase which is called inflation, this inflation will ultimately lower the value of our dollar until the plastic we print our dollars on will be worth more then the actual amount of money on it"

Teller "So the more money they create the less our money is actually worth"

Me "Exactly"

Teller "Well I don't know how I'd feel, maybe mad I guess. I'd have to learn more about it, why do you ask me this?"

Me "Before I can answer that I'll ask you one last question"

Teller "Ok, Shoot"

Me "Would you ever work for a company that does this"

Teller "Well based on what you said I would have to say no"

Me "But you already are"

Teller "I don't understand"

Me "The companies I should say that control the right to create our money are the private banks of Canada, you happen to work for the biggest one"

She then later questioned me how I knew this and she said she would look into it, I hope she does. I have noticed most tellers don't know this evil aspect to their work, so to all the DP'ers go tell your tellers!

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Nice post.

I had a civil rights conversation with the concentration camp guard ... er... a TSA agent in Chicago that went similarly. They wouldn't defend their violation of my 4th amendment right, but just asked "You gonna give me a job?" Oh, to be able to print money!

I must admit, I haven't read End The Fed and probably should. Whether or not the Fed is private is, to me, a moot point. No one denies that they do have a monopoly on the money supply, a power granted specifically to Congress and no other. The answer lies in basic individual rights.

The reserved powers clause makes it pretty clear that any right not specifically granted to the federal government, like right to establish a bank, falls to the states and the people. The Congress cannot legally create an institution with more rights than the people from whom they are granted their very power to govern. Constitution aside (where Obama likes to keep it) the sovereign states and the people have every right to freedom of currency and further to establishing separation of money and state. The federal government has long since been in obvious breech of contract. There is no reason people shouldn't choose a currency like they choose any other product. We have only to step up and claim it.

If they don't control the monetary system, they can't steal your paycheck before you get it. Large scale government theft ends with the widespread use of other currencies. Then end the wars, and the limitless expansion of central government. I just hope it happens voluntarily, before the dollar meets the true death.



That term says it all.

Next time I will go and ask for a story or the future :)


Cyril's picture

Lonely no more

So funny you say that... one of those peculiarities of English I used to ponder about...

Now I feel less random/less lonely! ;)

"Cyril" pronounced "see real". I code stuff.


"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

Woa. Amazing. I was WRONG! My comment appears on Krugman's blog!

He actually lets opposition speaks at his place!

Follow onto his post's link, from there:


Now I'm really curious if I'll ever get a response.

After all, I'm just random and presumably likely ignorant, while he has a Nobel Prize.

Lol. Even if he "destroys" me with their intellectual nonsense, I'll love to read it, just for the fun of seeing some more of it.

They are their own worst best enemies.


"Cyril" pronounced "see real". I code stuff.


"To study and not think is a waste. To think and not study is dangerous." -- Confucius

The best way

is to tell the teller you want all of your money, now.

Did the teller think to ask

Did the teller think to ask you why you were giving your business to the bank? You were there the same as she was.

haha that's funny because i'm

haha that's funny because i'm trying to get entry level teller positions with my finance degree ... and if i did .. i would be a teller who did know what was going on lol

All paper money eventually returns to its real intrinsic value, zero. - Voltaire

Wanna know how I became a Teller?

8 years ago I was a first year college student taking business studies. I needed a job and I wanted something semi-prestigous. So I went to the local CIBC bank. Basically got the job on the spot without any experience. I'll tell you how:

Step 1: Go to the bank 5 minutes before closing; wear a nice suit.

Step 2: Ask to speak with the Branch Manager.

Step 3: Charm him/her with your passion, look directly in their eyes and tell them you don't want any other job, you want to be a Teller, and that your life plan is to become a successful financial advisor. (this means more income for the bank through investments and loans)

Step 4: Ask for a specific follow up list of times and actions.

Step 5: Fill out the online application forms and confirm with the Branch Manager within 48 hours that they were received.

Step 6: Final interview and get the handshake.

Done. Did it at age 20. You can too.



Watch this dry yet astonishing Dr. Robert Beck cancer treatment lecture on Google Video - search "Suppressed Medical Discovery" - http://www.youtube.com/watch?v=MkiX0jJJozk

Might not be a

bad idea............infiltrate them and spread the word ........they do it to us! Why not do it to them/

Well .. wasn't essentially my

Well .. wasn't essentially my plan ... but could work lol ... who wants to be a teller anyway ... but the job market sucks .. teller jobs are even hard to come by.

All paper money eventually returns to its real intrinsic value, zero. - Voltaire

The force is strong in this one...

How Canada's Banking system works

Our national bank the "Bank of Canada" is public (maybe not, its what they claim) our government is supposed to loan money from this bank and pay it back at 0% interest, that's right 0%. Instead through a bill of legislation called the Bank Act, and its various additions throughout the years have now allowed our private banks to control a monopoly over our money; they can loan out created money at compounded interest, with absolutely 0 reserves (so fractional reserve banking in short). So we citizens and our government now borrows from these private banks at high interest.

IF theirs any Canadians reading this can someone explain who sets our interest rates? is it the private banks or is it our national bank

Also a side note, a German company prints our bills of credit. The same company that printed Zimbabwe bills during their hyperinflation

While I'm not sure about the

While I'm not sure about the situation in Canada, the false belief that the Federal Reserve is "private" and making "private profits" has the potential to be one of the most damaging to the liberty movement.

You know how they say "be careful what you wish for...", well I can see this ending up in a huge clamor to make the nation's money production LESS private (eg: done by Congress or whatever).

The problem isn't that the Fed isn't socialist ENOUGH. So why convince people that the problem is the degree to which it's private?!

My proposed rallying cry: PRIVATIZE THE FED!!!!!!!!

Forget the Fed

Let them pit their currency against any established by anyone who wants to offer one. Freedom of currency and separation of money and state need to be a part of the Constitution; if not this one, then the next. Today, their dollar would sell like the carriages that were designed about the same time.

exactly! and just like the


and just like the carriage industry, they should be private.

if some schmuck wanted to start a carriage business today shoud he be audited by the government? or should he be allowed to operate as a purelu PRIVATE business: let him sink his money into the venture, don't force customers to use his good or service, and let others compete with him if they so choose.

I hope your post in tongue in cheek...

From the Feds website...

"For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year"

So if you own stock in the Fed, you get 6% a year, guaranteed. Sounds like a profitable enterprise to me...Indeed a lot goes to the treasury, but I digress...

Here is something mind blowing, please stay with me. Say the US Treasurer sells 20 billion in bonds to the Federal Reserve, which is owned and managed by wealthy individuals, corporations, banks and agents of foreign wealth, it in turn credits the treasurer for the bonds in Federal Reserve Notes. What if the US treasurer goes and buys a 20 billion dollar building with those notes, then "defaults." Who gets the building? If you don't pay your bank for your mortgage, who gets your house?

Well obviously the Fed isn't going to take the 20 billion dollar building, but the idea still stands, they have 1st lien on that building. The Treasurer doesn't go out and spend those worthless notes, no... they have us do that for them. We accept the Federal Reserve notes and spend them away, we a their debt creators. Ok, realization is now setting in, we as citizens have entered into a PRIVATE contract with the Federal Reserve by using their notes, and, they now have 1st lien on every transaction using their notes. Yes, indeed, they basically "own" everything on this fruited plain. You can't actually "pay" for a debt with a debt, you can only discharge it, which means a lien still stands. Since it is a PRIVATE contract, the IRS isn't constitutionally bound, for you are not using Lawful money, you are using a private note. Private contract, private law...

You do have a choice in the type of legal tender you use, for if you didn't, the IRS would be unconstitutional. More on that later...

LAWL your own link agrees

LAWL your own link agrees with me:

"However, owning Reserve Bank stock is quite different from owning stock in a private company. "

different from, as in NOT THE SAME,

An apple is different than an

An apple is different than an orange, the point is the government or the people don't control it, the banking cabal does. Keep in mind, this comes from the Federal Reserves website, are you to trust the most corrupt cabal there is? It doesn't operate EXACTLY like a private grocery store, but to say those in power don't control is being disingenuous.

" It doesn't operate EXACTLY

" It doesn't operate EXACTLY like a private grocery store"

Agreed. It isnt private ENOUGH.

Complaining about the private-half of the half-private/half-public FED is like complaining about the juice-half of a glass of half-poison/half-orange juice. That's actually the only redeeming quality about it, that it has SOME private aspects... just not enough of them.

So the problem isn't the degree to which it is a private company. The problem is the degree to which is isnt FULLY PRIVATE and operating exactly like the grocery store.


Ok, I think we need to take a step back here...

The Federal Reserve has monopoly control over the money supply. Privatize the Fed, what are you calling for? I guess I just don't get what you want? Do you want other Federal reserve like institutions (if that is the case it would be more like a grocery store). If that is true, I would be completely behind it, more competition in fiat currency would expose the worthless paper for what its worth, and the whole system would come crashing down much faster.

Monopolies only exist via the

Monopolies only exist via the state/coercion.

Monopolies arent bad beacause "theyre private companies" they are bad because they have the strong arm of the government using force on their behalf to forbid competition and/or compel customers.

People saying that the fed is private are emphasizing this as if it needs to be made MORE pubhlic with MORE government involvement. This sort of arguing will end up with people supporting gereenbackers/Bill Still/Moneymasters type schemes that have the potential to be even worse than the current situation.

I have to disagree

People saying the fed is private because most people believe they are a part of the government. It's a private business, with profiteers running the system for personal gain, not for the benefit of the economy or the "greater good". Over 95% loss in value of the dollar since it's founding.

Yes monopolies are bad because they only exist via state/coercion using the strong arm of government, this is exactly what the Fed does.

People, at least in my experience, want the public more involved in the Fed not to take it over and run it as it is, they want the public involved to audit it, a criminal investigation of sorts. The Federal Reserve and it's members have been able to whitewash just about every shady backroom deal or transaction because of the undying support of the government (bailouts, tarp, foreign investments). People only want the government to investigate and expose. They don't want the Fed taken over by the government, they want to ELIMINATE it.

To paraphrase a video I once watched making an analogy to the Fed, if you had a check book, and could write as many checks as you wanted for purchasing goods (united states notes issued by the treasury, as Kennedy supposedly wanted), would you hand that check book to a friend and in turn have that friend charge you interest for each and every check he is writing, making decision where those checks are going? The Federal reserve is your friend, in this analogy only.

I contend from a transparency point of view, that the Fed has more privacy then the grocery store. The financials with a private company, or even a publicly traded company, upon an audit, would be picked through much more thoroughly and with much more scrutiny than the Federal Reserve, period.

"People saying the fed is

"People saying the fed is private because most people believe they are a part of the government. It's a private business, with profiteers running the system for personal gain, not for the benefit of the economy or the "greater good". Over 95% loss in value of the dollar since it's founding."

please tell me you're not against the desire to make a profit! Or are you one of those people who think that some things shouldnt be done "for profit" Missing the point that even by uttering this phrase you're implicitly agreeing that "for profit" is an inferior way to provide goods and services... that for little things that "dont really matter" the inferior "profit system" can be used. but for things that "really matter"... (How dare we trust the private profit motive to provide them!! and this is one of thsoe things that "really matters"!)

"I contend from a transparency point of view, that the Fed has more privacy then the grocery store. The financials with a private company, or even a publicly traded company, upon an audit, would be picked through much more thoroughly and with much more scrutiny than the Federal Reserve, period."

incorrect. you dont have the right to audit your local corner grocery store. maybe trhe IRS can, but you're not in favor of IRS audits, I assume?

And lastly, regarding your "blank check" analogy, you should develop it further... you and I are people in the same community as this guy. and we're FORECED to accept these checks, right? If your friend was writing bad checks all over town, would it be a problem if you and i werent forced (by men with lots of guns, if necessary) to accept his checks? That's right, that's where the original owner of the checkbook comes in (the state) it doesnt just hand the checkbook over to the friend. it tells him: "oh btw if anyone refuses to take one of these bad checks, just let us know. we'll point enough guns in his face to make him reconsider" Yet you say that the problem is your friends greed?!!?!? You want to return the checkbook back to the lunatics with all the guns!?!?

Solution: just PRIVATIZE it. As in: give the checkbook to the friend and tell him: "Ok bub, youre all on your own from here on out. If people wanna accept your checks, good on you, youll be able to make a fortune (gasp... profit!) but if they dont want to take your checks, (and I honestly dont know why they would, as youll be competing with lots of other guys out there and i even heard a rumor about a man whose checks are backed by Gold!) well then, don't come crying to us, Mr. PRIVATE business man. Just like the grovery store cant call on us to force people to shop there when he fails at competing with more successful grovery stores that may or may not open up. Peace see ya later!"

Usury is not profit.

Profits I am for. This is blatant theft. I don't think I'm getting through here... When you work, your provide a service, since everyone values things differently (you don't get paid in apples or wheat), and to make commerce more efficient, a dollar is provided for your service. That dollar is a paper representation of your hard work. Inflation is theft because it devalues your dollar, your hard work. The Federal Reserve inflates your money, takes interest on the money it loans, and in effect is stealing your labor at the same time. Some equate this to slavery. A dollar, or unit of currency should be inelastic, your labor as is your private property right, should be preserved.

The point with transparency, you Evan42 can't audit the corner grocery store as much as you can't audit the Fed. Ok, the IRS can audit the grocery, does the IRS audit the Fed? You can look at the IRS as a collection agency for the Fed.

"but you're not in favor of IRS audits, I assume?" No, no, I'm not in favor of the IRS, as it is taking my private property, that which I have earned through my labor. I don't think the IRS should exist. That is a whole other topic. One which we can address at a later date.

Ok, with the checkbook analogy, I'm not sure where your going with it with the guns part, but, as I stated earlier, if by privatize you mean allow others to print fiat currencies and have them compete with one another, I am with you, totally. Everyone would go for the gold backed currency, obviously. This is what the United States note used to do, you know issued from the treasury. This note, in addition coin, was the reason our country experienced one of the greatest economic expansions the world has ever seen, people were actually able to keep their private property. The IRS didn't exist before 1913, I think we were alright.

Bottom line the Fed causes inflation, which is theft. The Fed gives its currency to its members, charges interest to the gov't, who then forces taxation on us to pay for that interest. The IRS was basically created to pay for the interest on the loans from the Fed. Look at both of the dates they were created, coincidence? I'm for making profits on currency that is inelastic and sound, that is just plain business. But the Fed putting its hands into everyone's bank account through the indirect tax of inflation is immoral. They also set interest rates, which is a whole other topic that is incredibly flawed.

define usury please.at what

define usury please.

at what point is the rate a consenting lender charging to a consenting borrower "usurious"?

the problem is, and always has been, coercion. Something the government and ONLY the government has a monopoly on INITIATING. not the corner grovery, not the Fed.

"The Federal Reserve inflates your money, takes interest on the money it loans, and in effect is stealing your labor at the same time. Some equate this to slavery. A dollar, or unit of currency should be inelastic, your labor as is your private property right, should be preserved."

Privatize the Fed!!! Make them operate like every private busines: the only customers you have are the ones who want to vountarily do business with you.
And they ahve a right to do that. Just like I have a right to open a PRIVATE business where my marketing slogan is: "Walk in, give me your moiney, and ill keep it". Obviously I'd get no customers. I'd go out of business. The Fed differs from my hypothetical business in only ONE regard; they can use the government's force to COMPEL it's customers to remain customers (remember how we agreed that monopolies are a product of the state, right?)

I thought up a very easy way

I thought up a very easy way to explain it to you.

Can we agree that in a free market world, private business would and should have the following 3 aspects:

1) Private Ownership?: if the company does poorly, no bailouts. if the company does well, the private owners get to keep the millions

2) Consentual Transactions?: People who want to shop there, or use the good or service can. If not, then they wont.

3) Free Competition?: Anyone who wants to open up a competing company can do so.

So a Communist world would be:
1) No
2) No
3) No

But in an ideal world:
1) Yes
2) Yes
3) Yes

The current Fed:
1) Yes
2) No
3) No

The problem with the fed isn't that there's a "Yes" in the "is it privatly owned?" slot. It's that there ISNT ALSO a "Yes" in the other two slots.

PRIVATIZE THE FED!! (i.e.: have it privately owned, with consenting customers, with competition.)

We could have ended this a while ago...

Require competition, this is what I said before and its the first time ive heard you claim it. Its the gov't sponsored monopoly that is bad.

1. You are admitting they are private, at least private enough
2. People dont have an option, at least they dont demand it (this is a whole separate issue)
3. Yes, at least with competing currencies would allow the consumer other options to protect their wealth. Although a us constitution based lawful currency is best, I would say competing currencies are a close second. This might be where we disagree.

i think youre finally getting

i think youre finally getting what ive been saying all along.

theyre quasi private.

but the problem isnt that theyre part private and earn a ... gasp.. profit.

the problem is that theyre not private enough!!!

hence my rallying cry: PRIVATIZE THE FED!!!

No no

A great man wrote a book on the subject...

End the Fed.

is this a link to the