Video URL: https://www.youtube.com/watch?v=g6LS7GO7Qkw
the jogan experience all these things get corrupted and particularly today we just um you know the size of the US federal government is it's the biggest organization in the history of the world it's there's nothing there's not even a close second and it's uh got survival instincts yeah it doesn't want to give up ground it doesn't want to give up power it wants to keep expanding it wants more funding for its projects it wants to hire more people to deal with something in an incompetent way and it's not like the free market where it like if it's incompetent like there's going to be a competitor that comes along does a better job and you're going to lose the market well you ever look at the um if you look at like the uh the list of the richest counties in in America and they're like I forget the exact numbers it's like it's all obvious it's like 10 of the they're all not all but the vast majority of them are right outside Washington DC and right outside New York City and so like what is that this is that is that capitalism do you go to Washington DC and you go oh there's all there's more millionaires there than there are in any other part of the world in the suburbs around Washington DC is that because there's great big factories and they're making so much stuff that everyone wants to buy it's like no that's because our centralized federal government spends over $6 trillion a year and where does that money go it goes into all the people who are connected to government and why is it outside of New York City is it because in New York City they have great big factories where they're making all the things that everyone wants it's like no and that's not cuz of capitalism that's cuz Richard Nixon took us off the gold standard and now it's just this phony Casino Wall Street money so it's everybody all the people at the top who are making all of this money they're not making it it'd be one thing if you're um if you're like uh John D Rockefeller before he went in colluded with the government and you're you created Standard Oil and now there's this big oil company and you're making the country richer by this but they're not making the country richer they're extracting wealth out of the rest of the population it's all just extracted out I
mean literally the federal spending is extracting wealth out of people by taxing them and then spending it literally taking the money from people who work and giving it to politically connected people and then the the Wall Street money is just printing money and then making your dollar less valuable so just in another way extracting wealth from the people and this is basically why we live in this populist moment right now where so many people are so freaking furious at The Establishment because they right to be they right to be it's a [ __ ] system it's a [ __ ] scary system that you can never beat if it gets to make its own rules well it's not what it and it's not what America was supposed to be also it's so wild the stock market is such a wild idea that it's based on confidence and you you bet on companies yeah essentially betting on buying and selling and you can wreck them and you can own them and you know and there's people that just play that game all they do is like chase after businesses short businesses you could short a country yeah yeah yeah yeah no it's it's pretty wild it's pretty wild and craziest gambling but this is also you know like to go back to like Ron Paul stuff this was like at the center of his campaign I don't think anybody else um outside of like the libertarian party will will put up candidates who like talk about this stuff but Ron Paul was the only one like in a major party who got like a huge amount of traction behind him but where he was like look this is all like when you go when you have a fiat currency system and you go off of any type of gold or anything that kind of limits the government's ability to just print as much money out of thin air as they want to you get this thing where we live in a cycle of constant inflation and this is something that people don't put that much thought into like you know when you're talking to your grandma or something and she's like in my day a bottle of coke was a nickel we just take that almost as like yeah well that's how it works things over time get way more expensive that's just how cuz cuz that's been so just how we've always experienced life that it's just a given that everything's always going to be be a little more expensive and we may have a bad year where things are like 9% more
expensive and then maybe we'll have a better year where things are only 2% more expensive but it's always going in this direction but that's not a law of nature that doesn't just have to be that way and in fact if you looked at like from the year uh say 1800 to the year 1900 somebody talking to their grandparents would have had the complete opposite uh thing they would have been like oh my God it was so much more expensive when I was young and now things are getting cheaper and in fact the natural tendency in a society that's developing the natural pressure is for things to get cheaper because if you just think about it right like you get more efficient at making them you get you know what I'm saying like you get you get more efficient at making them you can make more things with less Manpower that would naturally put a downward pressure on prices but because the government keeps printing money the value of the money goes down and so we live in the system where things get more and more expensive but then when you have that right and then you have all types of government incentives on top of that right so it's like okay first of all you're going to if you just hold your money cuz this is what people used to do many generations ago was the idea of just saving your money you save it but if you just save your money today Joe you're a sucker because of this system right like if you just hold your dollars well you're just losing money actively so you got to be chasing interest in order to just not lose money you have to be chasing an investment you know what I mean you have to be like gambling on something and so now and then of course there's also other like tax incentives where like you you can kind of defer taxes if you invest in things and so you're kind of like pushed into you know like well put it in your 401k put it in this put it in that and then you won't but just think about that like logically aside from being really good for Rich Bankers why would you think that it's a good for like an average you know say like couple who's just like working and making money and they don't know anything about stocks and bonds and trading for you know Exchange traded funds and what to invest in and what not why would you say that you you should be
working no you shouldn't be working in saving a little bit for your uh for your retirement what you should be doing is gambling you should always be gambling your money constantly isn't that sound financial advice Gamble and gamble on something that you don't understand right and you've done no research on yeah trust someone who works on Wall Street do you remember that time about a year or so ago where Banks started failing mhm remember that remember spooky that was yeah where Banks started going under and there was a real concern that it would cause a you know a Cascade effect they were very very concerned about that yeah and it didn't but it got close and we had never heard about that many bank I mean there was a savings and loan crisis remember when a bunch of those places went under yeah I remember that I found out about that because Vinnie Penza the boxer lost a bunch of money in one of those oh really yeah like you know I think his life earnings I think he lost a shitload of money like quite a few people have lost a lot of money in these [ __ ] things Banks go under all a sudden you lose everything like what you don't have my money well and of in in 2008 was that was the big one you know in 2008 and they really set a precedent there with that kind of too big to fail line of logic where if that's true that the banks are too big to fail and then you bailed all of them out and now they're bigger than they were then then they're really too big to fail now right so it kind of perpetuates this idea that we listen the banking system and everybody kind of knows this the banking system is built on a house of cards um and it could collapse at any moment and if it does the federal government's going to have to come rob you of your money to give to a bunch of Bankers again that's our system that's our financial system and the CEOs of those Banks still got bonuses oh yeah yeah yeah yeah they all still got bonus said they had to give them bonuses otherwise they would leave and go other places and it's and it shows it shows a real um like eroding of something completely different than the political system just our culture that there wasn't at least like like enough shame of those people to just go yeah I'm going to not take my bonus this year cuz I don't want to get dragged through
the streets and like killed by the citizens of this country I don't want to feel like that and it's not as if these people didn't already have tens of millions of dollars like they really needed their bonus from this year or like little Timmy isn't going to get his Thanksgiving turkey yeah it's like no I want a fifth yacht yeah like that level but the the the whole banking system is it what's the um oh man I'm gonna get this what's the Christmas movie where they kind of go over fractional Reserve banking uh is it It's a Wonderful Life or the one where they're like where they all come into the bank there's like a bank run and they want their money and he's like oh but don't you see your money's over here at Frank's farm and then his money's over there and that's how but like uh I I can't remember which one it was but anyway was that it's a wonderful life is that what it was yes I think it was It's a Wonderful Life oh no maybe not old ass movie no yeah yeah it's an old one but there go but the whole system of fractional Reserve banking is really kind of this fascinating like thing because everybody still kind of has in their mind that if you you kind of have in your mind that the money in your bank account is your money and that you're holding it that they are holding it for you right but that's not right that's not what's going on and if you ever actually read like the contract that you sign when you open uh a checking account that's not what it is it's more like you're loaning money to the bank and they owe that money to you but they don't have to give it to you they you could legally speaking you could walk in tomorrow uh to a bank I mean no one actually walks up to a teller anymore it's a wonderful life isn't a Christmas movie it's a banking movie oh yeah yeah yeah yeah so that is the scene I was right about that okay uh but so you you could walk into the bank tomorrow and you're checking you know account balance is whatever say it's $5,000 and you could go I'd like to take out $2,000 and they can say no you can't have it now they owe it to you technically but they don't have to give it to you they're not just holding it for you to give to you on demand now the system hasn't collapsed so they will give that to you today if you walk into a bank but when but if too many people
come in and they want too much money well they don't have it yeah is the point so when you open a bank account and I don't know exactly what the reserve rates are now because I know they did change this during Co but for a while it was 10% um was the what the Federal Reserve set as the reserve uh that you had to put away so when you come into your bank and you give them $100 to open a checking account just to make it an easy number they they hold $10 and they loan out $90 and now so they they'll loan that money out and so essentially they owe you $100 but the the effect of this right is that now there's this this guy so let's say you open in the account with $100 now there's another guy who takes out a loan for $90 and you're now in the economy and kind of like you think you have $100 and he thinks he has $90 but really there's only there's not $190 there's only $100 that you get what I'm saying but now here's where it gets even crazier than that this guy doesn't just hold his $90 he goes and puts it in the bank and so the bank holds 10% of that money and then loans out 90% of that to somebody else who then puts that money in the bank and then they take 10% of so when you actually look at the effect of it there's like not nearly as much money in the bank as we all think we have in the world so essentially if everybody came into the bank or even just too many people came into the bank and said we'd like to withdraw our money there's nowhere near enough money for them to give you so inherently the whole thing is kind of a house of cards it's like when you're going to a stadium and try to use your cell phone you realize there's no signal even though you have five bars because everyone's using their phone so there's no signal for you you can't get online you can't make a phone call right like this thing only works if we're not all trying to do it at the same time but if we do then we're in a lot of trouble yeah