Comment: The gibberish

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The gibberish

of the bank executives comes from the fact that they (mostly managers rater than good economists) try hard to concentrate their little mind on economics, while the FED function nowadays is more political - give paper money to the government unbalanced budget, give extra money to off budget CIA and Pentagon expenses, keep "mixed economy" rolling by means of inflation (preventing capitalism, competition & bankcruptcies.)

Keep in mind that contrary to the youtube shrieks about Rotshchild and other plots, the FED founders were the ones who instituted the gold standard. The original version of the FED was not supposed to take care of government budget or employment. The original goal was to protect banks from run on, while the banks give LARGE loans to monopolies the founders themselves controlled.

But the FED founders miscalculated - government tyranny always has the upper hand. Thus, after 100 years, private banks cannot withstand a 5% run on their deposits. Their interest is less than the rate of inflation. They have no gold and only 5% paper cash. They are totally dependent on the FED's whims.