The Federal Reserve Act of 1913 (HOM 30-C)

Рет қаралды 46,964

Күн бұрын

History of Money, Lecture 30, Pt. C: on December 23, 1913, President Woodrow Wilson, a Democrat, signed the Federal Reserve Act into law. The Federal Reserve System replaced the National Banking System, created the famous Federal Reserve Note (redeemable in gold at the U.S. Treasury), functioned as a lender of last resort, and placed the charge of the nation's money supply in twelve private Federal Reserve district banks across the nation, with the New York Fed the most powerful, the system overseen by a Federal Reserve Board in Washington, D.C. Morgan partner Benjamin Strong, Jr. was made Governor (President) of the Federal Reserve Bank of New York, and Woodrow Wilson appointed Paul Warburg to serve on the Federal Reserve Board in Washington. Until 1933, open market operations were conducted autonomously by each of the twelve Federal Reserve Banks, owned and controlled by the member banks in their district. The plan hammered out at the Jekyll Island Club in Georgia, for a central bank in the United States, finally came to fruition.
_______________________________________
If enjoy this channel and would like to support:
/ professorbarth
Follow me on X:
/ professor_barth
Buy my book! The Currency of Empire: Money and Power in English America, released June 2021 with Cornell University Press. Order your copy now.
www.amazon.com/Currency-Empir...
_______________________________________
Dr. Jonathan Barth received his PhD in history from George Mason University in 2014. He specializes in the history of money and banking in the early modern period, with corollary interests in early modern politics, empire, culture, and ideas. Barth is Associate Professor of History at Arizona State University and Associate Director of the Center for American Institutions at Arizona State University.
_______________________________________
Visit my website www.professorbarth.com/
_______________________________________
Disclaimer: The views and opinions expressed on this channel are my own and do not reflect the views of Arizona State University, nor are any of the views endorsed by Arizona State University.

Пікірлер: 144

@ProfessorBarth 3 жыл бұрын

Follow me on Twitter: twitter.com/Professor_Barth If you enjoy this channel and want to support: www.patreon.com/professorbarth Buy my book: www.amazon.com/Currency-Empire-Seventeenth-Century-English-America-ebook/dp/B08L6ZPV19/ref=sr_1_1?keywords=currency+of+empire&sr=8-1 History of Money playlist: kzfaq.info/sun/PLinliDgP9EbScxfH5wxoX8I_HNRSElqZ_ Foundations of Western Political Thought playlist: kzfaq.info/sun/PLinliDgP9EbRu4qZn8SJFgysSQB5I4c-L

@beinanye 3 жыл бұрын

Why is this not more popular...

@vicschauberger2737 Жыл бұрын

Because most people are morons , who are more interested in Kim Kardashian's a$$ than identifying their rulers .

@unpataunpata Жыл бұрын

Cause they keep taking it down...and restarts the likes count

@phaedrussmith1949 Жыл бұрын

Perhaps because not only are the masses not curious about this subject, they don't know they should be curious about this subject. Worse, they have been inculcated in a manner that even reveals this is a subject.

@jeffsauer5056 Жыл бұрын

Because sheep dont care!!!

@paulsansonetti7410 Жыл бұрын

Likely bc matter how well you understand it ,there is very little to be done about it, unfortunately

@renanfelipedossantos5913 Жыл бұрын

This lecture is pure gold (or paper certificate redeemable in gold) for history and notaphily fans alike.

@ProfessorBarth Жыл бұрын

Haha thank you Renan

@fgoindarkg Жыл бұрын

You'll be lucky to get some silver slippers.

@FinanciallyGreat Жыл бұрын

At the 11:40 minute mark it was stated that Chief Justice John Marshall ruled that the [First] Bank of the United States to be constitutional. The new-view is that he didn’t actually quote on the specifications of the [First] Bank of US Act. Instead, he ruled that Congress has the option to use a corporation to help fulfill its enumerated Constitutional “decision making responsibilities”. That ruling was actually in error because in the 1824 Supreme Court case - Bank of the U.S. v. Planters Bank of Georgia, he stated that Congress had no power over the [First] Bank of the US that wasn’t included in its charter. The charter gave no money control power to Congress. Therefore Congress was enslaved to the decisions made by the {First] Bank’s board of directors. Since Congress couldn’t control the corporation, then how can Congress fulfill its Constitutional responsibility to represent citizens in decisions about money stated in Article 1 Section 8? The answer is it can’t. Justice Marshall actually said it was constitutional for Congress, and thereby citizens, to be enslaved to the decisions of a corporate board of directors. That is the opposite intent of the US Constitution.

@fredkruger7355 Жыл бұрын

Yep, i always said federal reserve notes are unconstitutional.

@johnarmon7818 Жыл бұрын

Yes, yes!

@GeorgeGeorgecp Жыл бұрын

Bastard

@scottbrueggemann6303 3 жыл бұрын

I just want to say thank you for these lectures!! I've read 'The Creature From Jekyll Island" and it's nice to solidify all that knowledge with these lectures. Great Work!

@ProfessorBarth 3 жыл бұрын

You're welcome; thanks for the kind words. And classic book!

@grantyentis5507 Жыл бұрын

Every American should be watching your videos!

@29kalel Жыл бұрын

Andrew Jackson would have been pissed. This was more like poking fun at him for destroying the first federal reserve

@yharnamiyhill787 Жыл бұрын

Can you direct me to some sources? That is fascinating. I know the central bank agenda dates back to the 1500s even earlier, but I didn't know Andrew Jackson tried to go against it

@joeltraten5967 Жыл бұрын

Actually, Jackson ended the Second Bank of the United States, which was a Hamiltonian National Bank, one-quarter owned by the federal government, not a wholly privately owned Central Bank. Jackson’s Vice President and successor, Martin van Buren, was also a Wall Street banker. There was speculation that van Buren was an illegitimate son of Aaron Burr, so closely did his politics line up with Burr’s. It is understandable that many would believe that Andrew Jackson would not be pleased with our Federal Reserve System. Jackson was an anti-Hamiltonian. Alexander Hamilton would be livid with the Federal Reserve, and would not cease political organizing until it was shut down and replaced with a Third Bank of the United States. The National Bank was a critical component of what was known as the American System of political economy, with President Thomas Jefferson’s Treasury Secretary Albert Gallatin noting that each part of the system was dependent upon the operation of the others. The Federal Reserve System was designed, in part, to prevent the establishment of a Third Bank of the United States. It is often mentioned that as a member of the First Congress, James Madison opposed the National Bank on constitutional grounds. This is correct, however, he did so only after the Pennsylvania delegation defeated an attempt to shorten the Bank’s charter to ten years from twenty, since the seat of the federal government was set to move to Washington, D.C. from Philadelphia in ten years. It was then that Madison devised his constitutional interpretation which did not permit the Bank. At first, Madison was on board with establishing the Bank of the United States. Madison would reverse this position again during the Second War for Independence, after realizing his mistake in allowing the Bank of the United States’s charter to expire.

@yharnamiyhill787 Жыл бұрын

@joeltraten5967 Thank you for the info. It's something for me to look up.

@John-ef8pz Жыл бұрын

The entire board needs to have all there assets seized. Give it back to the people they have stolen it from.

@nitsudocsicnarf347 2 жыл бұрын

Which dissolved the United States sovereignty.

@ProfessorBarth 2 жыл бұрын

It definitely placed the fate of the nation's economy in the hands of an elite clique of bankers.

@Zhentarim Жыл бұрын

I'm writing my graduation thesis, I'm Brazilian and it's helping me a lot to understand the American context, I've seen the playlist thanks, keep up the good work

@negro722 6 ай бұрын

all you need to know about it is that we have been fkd ever since -

@billywolf4630 Жыл бұрын

This is the schooling children need.thank you brother for your time and effort to share the truth

@qhuizatlantis8484 Ай бұрын

Awesome research will add this to playlist

@fgoindarkg Жыл бұрын

When Paul Warburg was running the Fed, his brother Max was doing the same job for the Germans.

@user-nh5vk9yf4l Ай бұрын

All jews

@JacobWK Жыл бұрын

Thank you so much for having published these videos! I have learned so much here versus trying to make sense of the other videos and books out there on the internet.

@Vasectomyjohn Жыл бұрын

It’s like waking to a nightmare. The beasts

@thatguythatguy5338 Жыл бұрын

You are a gifted teacher thanks for these videos. 👍

@alyssaayeb 9 ай бұрын

Thank you so much for this awesome lecture. I just subscribed to your channel, and I'm looking forward to listening to the rest of it.

@WorkWithBailey 3 ай бұрын

Here from Sunday Cool. Love the vids!

@ReveloProject Жыл бұрын

You are great at teaching this stuff, I am making a documentary on this subject right now. This is the best aggregation of information explained in a coherent way that I have come across. Good work, cheers mate :)

@raphaelward1711 Жыл бұрын

Good work

@Ashley2629 Жыл бұрын

Love this video! Thanks for the hard work.

@raybruneau4726 2 ай бұрын

Good job

@FinanciallyGreat 2 жыл бұрын

At the 16:13 mark was the specification (sectioon16.1) that authorized the Fed note to be receivable by all banks. Technically speaking that is different than the statement on the Fed note that it is legal tender for all debt public and private. I was wondering if you had heard anyone else make this point and if they saw how important of a change it was. In other words, does anyone use this difference as one of the tricks the writers of the Fed Act built in that nobody appreciates?

@John-ef8pz Жыл бұрын

Stop paying unconstitutional taxes

@amaru427 3 ай бұрын

I am upset that i have just come across this platform!😂 I have been binge watching the material as I've been studying and applying these subjects not known, let alone understood, by most.

@brittanycunningham787 11 ай бұрын

END THE FED!

@bezo8162 Жыл бұрын

That $10 is one of my favorites... on my bucket list. It was made from hemp, sidenote

@MrGchiasson Жыл бұрын

Fantastic presentation of the creation of the Fed Rsrv Banking cartel.

@John-ef8pz Жыл бұрын

Time for all the CEOS to have all there assets seized.

@griffruby8756 Жыл бұрын

8:13 The Federal Reserve Note was a fractionalized gold reserve system, unlike the Gold Certificates, which continued to be produced over that same time, and which were fully backed by gold.

@ProfessorBarth Жыл бұрын

Yep, I talk about gold certificates (and silver certificates) here: kzfaq.info/get/bejne/edZ8iMmj0suxe4k.html

@verderriscursey Жыл бұрын

Bernie madoff said he learned ponzi scheme from the govt.

@TheRoyalBavarian Жыл бұрын

Curious. What was Theodore Roosevelt's opinion of the Aldrich Plan snd the subsequent Federal Reserve Act.

@borisbuliak3626 Жыл бұрын

If there was ever a need for the $500 and $1000 bills is now

@somerandomkrieg 2 ай бұрын

I’m at 3:04 and this already sounds suspicious

@orlandoselles7926 Жыл бұрын

Who did print the banks' notes for 20 years? Was there any laundering money as liquid deposit.

@griffruby8756 Жыл бұрын

19:22 The Federal Reserve Bank Notes were "National Bank Notes" of the individual Federal Reserve banks, with the one other difference that, unlike the National Bank Notes (other than those produced 1908-1915 under the terms of the Aldrich-Vreeland Act), could be backed "by other securities" than only the US Treasury bonds required as backing for all other National Bank Notes."

@griffruby8756 Жыл бұрын

8:00 Actually, the National banks continued to issue their own currency until July, 1935. So, even if "the writing was on the wall" with regards to the National banks, their actual reduction to a non-currency generating status more comparable to that of the state banks comes later.

@____2080_____ Жыл бұрын

18:34 as I watch the lecture, it will be interesting to have someone with the mastery of the subject like this channel to interview, and a substantive and detailed way people like Ron Paul, to learn what was his antithesis towards the federal reserve. They are people who are taking that populist anti-fed tone like Donald Trump pad, but it seems more like a political posture, then someone actually trying to even attempt to reform the fed.

@____2080_____ Жыл бұрын

Also, was really good about the challenge self is that he covers the politics of the past from a skeptic historical point of view, as well as the practical understanding of the federal reserve and his impact and the hearing now. That’s a hard balance to maintain yet it is absolutely needed for people to make informed decisions, and to understand what’s going on and how we got to this moment in time

@brettrobinson1783 3 ай бұрын

Ninjas are butterflies sent me here!

@fgoindarkg Жыл бұрын

William Jennings Bryan was the model for the Cowardly Lion, on account of his campaign plan to replace the gold standard with silver.

@heathercontois4501 23 күн бұрын

Lindberg!!! Wow things line p now.

@andrewternet8370 3 жыл бұрын

This is a bit out of context, but what was so important about the original thaller that it spread to Britain and Spain?

@ProfessorBarth 3 жыл бұрын

The importance of central European silver mining before the 16th century gave the thaler prominence on the Continent.

@carlitaticconi6655 3 ай бұрын

This is vitally important history. It's strange that it doesn't seem to be covered in school..... What I don't understand (and maybe you will cover this in a subsequent lecture - I will be following along to find out) is how the congress and American people didn't push for a reform of this system after its colossal failure just years later with the Great Depression. Was the argument not that increased flexibility would protect the financial system? The greatest collapse in US history is hardly solid evidence of effective protection.

@ChangedThingsUp.. Жыл бұрын

It's called the Fractional Monetary System, there 1971 Book called, "Modern Money Mechanics" described a Debt Based Economy..it's not complicated, there a "Bunch a Crooks" imo Professor

@heathercontois4501 23 күн бұрын

So....from the begining Private Investment Firms (or banks or owners or what have you) have been in charge of the Federal Reserve? Is that why it's gotten so bad now?

@ProfessorBarth 23 күн бұрын

That and the fact that they combined into a legally-sanctioned cartel: yes

@heathercontois4501 23 күн бұрын

@@ProfessorBarth And all it took was 100 years to make it nearly impossible to financially survive in this country. I will have to go through all of your videos (my sister and I are working together on a deep dive into this as we're curious) to find out if you tell us how we, as a country, would go about repairing the damage and improving quality of life.

@stainyourconcrete 4 ай бұрын

Who's a good question maybe you've covered it? In 1933 in the Emergency Banking Act 20 years later or so the confiscated all the gold from the people for public use, what was the caveat, all are Necessities became the obligation of the United States and those of exchange and promissory notes became the new money, everyone's just Trading promissory notes or notes or bills of Exchange when endorsed properly become money oddly enough. You and I are also bankers and can apply to the Federal Reserve with these forms of collateral in exchange for Federal Reserve notes, and I believe the debt will be paid. So while the secondary lien on the property when the promissory note was the collateral? We are also the beneficiary of that trust. Securities Trust

@PashutHerenstein 4 ай бұрын

Why doesn’t anybody talk about the titanic?

@lannyhoover1625 Жыл бұрын

How can the United States issue currency and take responsibility for backing the currency when it isn’t a bank?

@greg7129 Жыл бұрын

Exactly ! Short answer = They do whatever they want because we the people do nothing but obey. A large flock of sheep = We the people. We are so far away from our US Constitution it is pitiful and very sad. All because we the people do nothing but obey.

@jarvislarson6864 Жыл бұрын

@@greg7129 none of the many steps it took to get here were done long before I was born (78) so bark at the boomers or the generations before them because my vote of last was stolen and a 1man army isn't capable of crap

@lenr7068 2 ай бұрын

I wonder how this information is affecting AI?

@thomasmedlin1908 Жыл бұрын

Criminals!

@georgemckenzie2525 Жыл бұрын

No creation of Congress can be private. They can call it whatever they want. Four rules to the game : There is no money Stay in honour at all costs Do not participate in public controversy Public and private do not mix

@rubeng.madrigaljr.7047 Жыл бұрын

And the dolly lama helped when it came to those serial killers with the brand of cereal called lama loops

@daviddavis9727 28 күн бұрын

And yes it is public exploit information 😊

@griffruby8756 Жыл бұрын

19:18 Actually, the Federal Reserve Bank Note was created in 1915, primarily to help fund the US role in World War I, and ceased production somewhere 1919-1920 as costs of the war came to be absorbed by other modes of currency. The Federal Reserve Note was only revived in 1933 to replace the Gold Certificates and gold coins abruptly withdrawn from circulation with the act of 1933. Otherwise, such withdrawal of such an amount of currency and coin would only have seriously deepened the depression. The $1 United States Note was also created at that time for the same reason, but it was abandoned after only a month when it was recognised that its utility was insignificant at best. The Federal Reserve Bank Note was abandoned mid-1934, this time for keeps, as again, other currencies had expanded to absorb the value of the notes.

@verderriscursey Жыл бұрын

"To help fund the war"😂😂😂. These are the same banksters, I mean gangsters behind that too. "All wars are bankers wars."

@verderriscursey Жыл бұрын

kzfaq.info/get/bejne/rNSEnpZpr56vmn0.html

@justinaldrich1719 Жыл бұрын

😞

@rubeng.madrigaljr.7047 Жыл бұрын

Alright grandma's Joe and those red and white boxer shorts a Doris Day. Can we get rid of that chicken filet? It's red and white? I mean the 9 out of 10. Dennis surnecessary is missing for the licking of the back of his tooth to make it longer on the tube of toothpaste.

@bruster61 Жыл бұрын

William Taft, was my Great Grandfather boss, we started all banks in Canada of Bank of Canada and Great West Permanent Loans and Savings Company of Canada, we were Special Financial secretary for the Regiment#4 Royal Logistics Command in UK, opening Bank of London and closing a couple of times, Bank of Scotland and Ireland, we also signed the India Shipping Documents in Ireland Belfast 1921, later our family home was the United Church of Canada in Vancouver UBC ground under contract

@elgoog7830 Жыл бұрын

Cool... so you guys are part of the problem. Good to know.

@jarvislarson6864 Жыл бұрын

So what are you trying to say besides my family got by on the backs of others?

@Pickitout 8 ай бұрын

In my opinion this is when we became debt slaves.

@martinleepgg Жыл бұрын

Just found these lectures. This should be taught in usa schools. But can understand why it isn't, beside, 98% of that population is too dumbed down.

@negro722 6 ай бұрын

....and the entire planet has been fkd ever since....

@suntzu6122 2 ай бұрын

I heard woodrow wilson said this was 'the worst mistake of my life' and 'i sold out my countrymen' because of this. -20% value of our dollar in 18 months from covid money printing alone. Before this point we were arguably at -99% value of our dollar already. The real question is: Who tells the heads of the federal reserve what to do? Like who is ACTUALLY pulling the strings? If I could have the answer to ANY question thats what Id ask.

@douglasedward227 3 ай бұрын

Look at the definition of a person and a golem They are the same thing. Who makes golems?

@evanhoback9338 2 ай бұрын

They’re gonna do this agin like china

@edgard3659 Жыл бұрын

Established in 1865 as q result of the U.S. Civil War.

@rubeng.madrigaljr.7047 Жыл бұрын

But 22 signatures of the federal reserve note dollar are based on my name without payment of the treasurer and secretary of the Treasury signature is 1%. Or 702.5 million Americans multiplied by a $250 deductible as head of household. For 57 years have the dollar been based on my name without payment from the government International money exchange for the Vatican. You know one? Dollar. And a broken commandment? How does it feel not to have last rights by a priest? It's not broken a commandment. For the last forty seven years can you hear them screaming

@adamjankowski4315 2 ай бұрын

Funny how he is likely a left or right supporter

@rubeng.madrigaljr.7047 Жыл бұрын

Hey they're attacking my feet here with a little thing vibration thing or something because it's their property even though the money's based on my name. Of treasurer I don't. Think that's fair do you for 57 years and then on top of that from the 19. Twenties? And the donkey dollar with my name ruben on it. I don't think that's fair

@billbradleymusic Жыл бұрын

Sounds like you are ready for the federal digital currency. 😂

@brentsrx7 2 ай бұрын

The Satan act of 1913.

@ricktraficanti2673 Жыл бұрын

The problem with this it’s interesting BUT the Dinkel Dork taking will put u to sleep

@brentsrx7 2 ай бұрын

You are working so hard to avoid discussing the tragic consequences of this thinking. Keynes is deranged and socialism doesn't work.

@jaspernewcomb5656 Жыл бұрын

What is money? What is the value of money? Money is a tool used to equalize trade value. It's value is your labor that you contribute to build the society we live in. When you borrow money in the debt based monetary system you have to work to pay back what you owe, plus interest of course. So how do you or why would you borrow your labor from the con men that operate the biggest fraud of all time? We are told we owe 31 trillion dollars in debt to the people who service our bank accounts. A debt that can never be paid back to people we aren't allowed to audit or know their identity for empty promises of a fair and stable currency, that feeds off of and cheats hard working men and women to build a world nobody wants to live in. How is that ok? It's not ok. They believe there's nothing we can do to stop them and good intentions forgive their crimes against humanity. Well i want my money back plus interest and penalties and that includes the gold and silver taken from our Treasury and a complete Audit of the Federal Reserve. We do all the work, we pay all the bills and we fight all the wars when the blood gets spilled and this crap where everything is a big secret we don't need to know is going to stop. Build what back better transition into what Joe Biden? Climate Change? Wolf, wolf the sky is falling. The Great Reset? The 4th Industrial Revolution? Sustainability? We need to eat bugs? It's not gonna happen...

@timothyroberg8682 Жыл бұрын

You take too long to get to the point.

@ProfessorBarth Жыл бұрын

Academic history professor here -- so take it or leave it ; ) Also, these lectures were originally taped and recorded for my class at ASU during covid when in-person classes were cancelled; so you're watching actual university lectures.

@John-ef8pz Жыл бұрын

The note has to be backed by currency or it is not worth the paper it is written on.

@John-ef8pz Жыл бұрын

Sorry but the federal reserve is no longer in charge. Sorry to let you know.