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Who's Afraid of the Big Bad Bank? An Uncensored Investigation of the U.S. Federal Reserve
HYPERLINK "http://www.youtube.com/user/BaitAndSwitchTV#p/u/0/_M_Rh_fgKEQb" http://www.youtube.com/user/BaitAndSwitchTV#p/u/0/_M_Rh_fgKEQb
(23:34) By Leesa Stanion | Stanion Studios
Bait and Switch TV: Investigative Satire www.baitandswitchtv.com
(music playing; headlines displaying)
Mari Kaplan: Welcome to Bait and Switch TV.
Erikka Innes: Our hot topic tonight, the Federal Reserve Banking system
(music playing)
Mari: we're gonna make the financial collapse fun and simple enough for a child to understand.
(GRAPHICS: (children singing) Stocks and bonds puppets and silly songs, friendly bankers
that you'll never meet. can you tell me how to invest on sesame wall street. on sesame
wall street
Erikka: this episode is called the Federal Reserve System. Who’s afraid of the big
bad bank?
Mari: I think we all are. This topic hits close to home
Erikka: yeah most of us are just a paycheck away from the feds huffing and puffing and
blowing our houses down
Mari: so tuck yourselves in as we spin some spine-tingling bedtime stories that cast a
light on what's been known as the shadow banking system. You’ll learn about some of the boogie
men behind the Federal Reserve. Some of whom may just scare you half to death.
(GRAPHICS: kid: I see shadow bankers. really? 750 billion? Mommy! i see shadow bankers.
i see shadow bankers everywhere
mother: Darling, please go to sleep. I’m trying to pay this month's bills. I can hardly
hear myself silently weeping
(whispers in the background: profit cash profit )
(screaming in background)
(laughing in background)
Mari: we'll consider some of the key players in the financial crisis Ben Bernanke, Hank
Paulson, Timothy Geithner, Allan Greenspan, and members of Goldman Sachs. And then we'll
take a shower
Erikka: how does this formidable central bank affect the lives of everyday people?
(on the street interviews) man: we lost our home
lady: our retirement's cut in half
lady: I lost a lot of money probably about half my savings in the stock market
man: we took a hint like everybody else did
man: well I just recently lost my job. Been able to find work just in a lot lower rate
lady: I graduated from law school in spring of 2009. I'm still unemployed like a lot of
my friends
man: I was laid off
man: I see another recession depression coming
lady: I heard my husband.. He actually cried upstairs in this apartment we were in. I heard
his voice going like (gasps) he doesn't do that. He is a steady man
man: well just last week actually I was laid off
lady: I lost my job a year and a half ago.
lady: It's just been a hard time for a lot people
(Chitty Chitty *** *** Car flying in the air)
kid: where are we going mommy?
mom: we're going to the field to set the car on fire before the bank repossess it
kid: but mommy, it's a wonderful old car
mom: oh I know darling. I've been paying for it since before you were born
kid: what a curious sound it's making
mom: I can't afford the good gas darling
kid: why is it the same?
mom: it seems sh__ty sh__ty....(repeats)
kid: bank bank
(mom and kid singing) oh you sh_ty bank bank sh_ty sh_ty bank bank. we hate you and our
pretty sh__ty bank bank sh_ty sh_ty bank bank hates us too. high, low, everywhere our age
go on sh__ty sh_ty greedy bank bank bank sh_ty sh_ty bank bank our fine forclosure friend
bank bank sh_itty sh_ty bank bank our fine foreclosure friend
Erikka: we spoke with real experts for today's show. Leading economists, famous authors,
investment bankers, politicians (and other entertainers) to get to the bottom of the
burning question: "Has the federal reserve been doing their own bait and switch?"
Mari: to start our investigation, bait and switch TV asked a simple question: What is
the federal reserve?
Mark Williams (Author, Uncontrolled risk): The Federal Reserve is the central bank and
it is the bank for bankers
G. Edward Griffin (Author, The Creature from Jekyll Island): the federal reserve system
and the component banks in the financial institutions which make it up, today, represent the dominant
--not only economic-- but the dominant political force in America
Darrell Duffie (Distinguished professor of finance at Stanford): the fed knows that its
mandate is to serve the interest of US citizens
Ellen Brown (attorney, author Web of Debt): the trouble with our federal reserve is that
it's privately owned
Robert Murphy (Economist, Author- Politically incorrect guide to capitalism): it's basically
a bunch of privileged banks who operate through the Federal Reserve and have their interests
met
Ellen Brown: our banking system is based on sleight of hand and that's where this usurping
of power has come from… the slate of hand is called factional reserve lending
Camice Revier (Former Countrywide banker): I do not pretend to fully understand it. I
know the basic concept of the Federal Reserve is to prevent financial disasters. You know
it's to prevent runs on the banks. It’s to manage the flow of cash
Darrell Duffie: The fed is basically responsible for controlling the money supply
Josh Kosman (author, The BuyOut of America) I'm the author of the buyout of America which
is an expose that reveals how private equity --using the same true credit that caused the
house in bubble –is bound to cause the next credit crisis and even if they don't we should
stop them. if you let capitalism run amok, you get what we have now and we're not through
the worst of it yet in my view --unfortunately this LBO crisis is just starting
Michelle Chan (Cap and Trade expert): Wall street has continually bought regulatory favors
GRAPHICS (man speaking in background)
Joseph Tibman (alias, author of The *** of Lehman Brothers): I still remember someone
at the table who we were talking to about potential lay-offs --looked at me and said
yes, there's gonna be a lot of blood spilled. It's true that if you're in this business
long enough you are not as chillled by that as you were before
Mari: well that explains it
Erikka: yes I understood it completely. by now you're probably still wondering ok what
is the federal reserve system really?
Mari: the Federal Reserve’s official website says: the federal reserve is one of the world's
most influential, trusted and prestigious financial organizations.
Erikka: they should really update that
Mari: it goes on to say the Federal Reserve was put in place to ensure the soundness of
the nation's banking system and to contain risks that may arise in financial markets
Erikka: well, you know what the rich say, if you ain't broke don't fix it
Mari: ok let's take a look at the fed's score card. our bait and switch TV correspondent
Becky Washo will explain more about how the federal reserve has managed the US economy's
monetary system for the last 100 years
Becky Washo: thanks Marie, Ericka. When the federal reserve was established, the board
declared from now on national bank failures will be virtually eliminated. the federal
reserve was created specifically to stabilize our economy. but since its conception, it
has presided over too many economic collapses and financial failures to mention. But what
the hell. Let’s mention them anyway. Let’s start with the recession of 1918 to 1919.
the crash of 1920 to 1921. the recessions of 1923 to 1924 and 1926 to 1927 and of course
the great depression, the crash of 1929 to 1939. you still there? then there were the
recessions of 1945, 1948 to 1949, 1953 to 1954, 1957 to 1958, 1960 to1961, 1969, 1975,
1981 that stock market black Monday of 1987, the dot com bubble and bust of 1995 to 2001.
the great recession of 2007 to 2010 which is still going strong and to date, the dollar
has undergone a 1000% inflation. 1000%!
GRAPHICS: (music playing) – Pamela Anderson demonstrates “inflation”
Becky Washo: since the Federal Reserve opened for business in 1913, 90% of the US dollars
purchasing power has been destroyed. that's the fed's success rate, a succession of failures
Robert Murphy (economist): well, I think anyone looking at the historical record who just
objectively entertains the question "has the federal reserve done a good job living up
to what it's official mission is, would have to say no.
Mark Williams (author, Uncontrolled Risk): since 1913, the Federal Reserve itself has
had various degrees of success in managing its role as a central bank
(graphics: The Sesame Wall Street Ac-Count: One! One percent interest rate. (laughing)
Robert Murphy: the twin mandates that it had were to avoid macroeconomic disturbances and
to preserve the value of the dollar while avoiding price inflation. and since the fed's
opened its doors, the dollar has lost about 95% of its purchasing power so the fed's clearly
failed on that front and we had the great depression on the feds watch and we now have
the current crisis on the feds watch so I wonder what more would the fed have to do
to just screw up to let people realize that it's not doing what it's supposed to do
Mark Williams: the fed needs to be held accountable and what that means is that if you don't do
a good job, you'll lose your job
Ellen Brown (attorney): the Federal Reserve is doing an excellent job serving it's mandate
which is to serve the banks but they are not doing much for us and in fact it's because
of this whole parasitic banking system that we're currently suffering from deflation and
heading toward depression
Camice Revier: it's easy to sit back and pass judgments say well, they haven't done a great
job. we had this market crash. but do I blame them for it? not necessarily. I don't necessarily
think it's on them. I do have a little bit of issue with what we saw during the days
of (Allan greenspan)
(graphics: 2! 2% interest rates (laughing ))
Camice Revier: anytime that one human being has the ability to step in front of a camera
and completely change the financial market, I'm concerned.
G. Edward Griffin: the Federal Reserve System is a cartel. it's a banking cartel and that
comes pretty much as a shock to most people because we've all been taught that the federal
reserve is a government agency or some kind of an institution which is under the watchful
eye of our representatives in Washington and that it serves the people
Darrel Duffie: we can't forget who owns the fed. Us. the tax payers. so when the fed makes
a lot of money, we've made a lot of money. but that's second to its main concerns, its
main concern is not to profit from its financial transactions but again to stabilize the monetary
supply so that we don't have excessively high inflation or excessively high unemployment
(graphic – scale with wavering employment on one end and inflation on the other)
(graphics: 3! 3% interest rates)
Ellen Brown: the power to issue money has been usurped from the American people or from
people in general globally now by a private banking cartel which is arguably bent on dominating
the countries of the world privately by controlling that their money supplies
Rep. Ron Paul: the people are very worried and rightfully so. they're looking more closely
at the Federal Reserve. it's generally been ignored as long as we're surviving and generally
doing well, they don't look to the source of our problems but now that we're in such
serious trouble, people are becoming much more aware of how the federal reserve operates
and how they participate in the crises that we have
Darrell Duffie: we have a lot of congress people that have criticized the fed on many
grounds suggesting that it's not acting on behalf of tax payers and I think that's silly
(graphics: 4! 4% interest rate)
G. Edward Griffin: when you really analyze it you discover to your surprise that the
Federal Reserve System is not much different than an oil cartel or a banana cartel or a
sugar cartel. This just happens to be a banking cartel and it was formed for the same purpose
that all cartels are formed and that's not to protect the interest of the consumer or
the voter or the people at large but to protect and expand the profit margins and the domination
of the markets of the members of the cartel. In this case the banks
Peter Corning (author The Fair Society): the current recession some 50 million Americans
are out of work and 25 million Americans are struggling to meet their basic needs. There’s
no good reason why something like this should happen, this sort of legalized looting that
we've had in our economic system
(graphics: 5! 5% interest rate)
Ellen Brown: we appear to be heading for another great depression and there is reason to suspect
that this is actually being engineered. It’s an intentional depression. I know many people
would argue with that but depressions are caused when there is not enough money in the
system. That's the definition of a depression.
Peter Corning: meanwhile the perpetrators of this crisis have been bailed out by the
tax payers and have gone back to paying themselves bonuses as usual in the billions of dollars
Ellen Brown: it's the banking system itself that is responsible for the collapse of the
money supply and yet at the moment we have this campaign for slashing services, tightening
our belts in order to supposedly clean up the deficit because the government is alleged
to be spending too much but the government is spending too much because the federal reserve
itself has usurped the government's power to issue money and the government has certain
commitments, it has commitments to the people who are blameless here. it's the people who
are going to be made to pay to pick up the bill for this huge 15 trillion dollar outlay
that we've made to save the banks and the banks are not turning around and saving us
in return
Peter Corning: and it is very troubling that the current treasury secretary, and Bernake,
are people who are very tied into wall street. wall street does not know how to run this
country
(graphics: 750 billion dollars)
Peter Corning: one of the great lessons of history is that any nation that fails to provide
for the basic needs of its people is destined to fail
(GRAPHICS. children singing: la la la...Elmo's poor (repeats) He lost his money and his house
too so Elmo's poor)
Erikka: : and now a cartoon
In the great hall of injustice there are assembled the world's greatest economic superheroes
created from the collapsing collateral of the universe. Fat Cat, when it comes to fighting
crime he has no restraint. no restraint. i mean it. the deregulator. he doesn't follow
the rules, he makes the rules he doesn't follow. this is your air traffic control. you can't
do that sir, it's against the rules... im the deregulator damn_it... the green span
lantern. a shining beacon of hypocrisy. you don't want to meet him in a dark alley. and
red tape bitten by a radioactive acorn volunteer. she fights corporate crime by making it incomprehensible.
hey. the shadow banker --more powerful than a liberal motive. able to leap logic in a
single bound. and with the help of other super frauds like embezzle man warding off the depression
with his golden parachute of privilege. and the media with her supernatural powers of
persuasive revision saving the world from reality because we can't handle the truth.
Captain escrow getting back to you in 30 to 60 days under certain conditions. these are
the super frauds sworn to protect the privileged few. Their mission? Total global financial
control. the super fraud injustice league saving the world for themselves one bank at
a time. Get out of the their way!
Erikka: we'll be right back
(singing – from the depression era song Brother Can You Spare a Dime): they used to
tell me I was building a dream with peace and glory ahead why should I be standing in
line, just waiting for bread? once I built a railroad, I made it run, made it race against
time. once i built a railroad now it's done, brother can you spare a dime?)
COMING UP NEXT… Dave Burleigh: America's great depression
started on October 24th 1929 black Thursday when investors lost faith in the monetary
system. Panic, sh_it their pants and could not afford to buy new ones
COMING UP NEXT… (graphics. ma..ma..ma..ma..LADY GAGA DOES
LBO’s leveraged buyouts) (repeats) i wanna leverage buy out for my company. i wanna huge
amount of borrowed bank money. i love it. got no intuition borrowed most my purchase
price and after I can't pay it off the banks will take their slice. LBO makes bankers wet
seeing what they'll get. L B O O)
COMING UP NEXT… AN INTERVIEW WITH SARAH PALIN
lady: What is the role of the federal reserve?
Sarah Palin: I think a child could answer that well maybe not my child
(music playing)
COMING UP NEXT…
Johnny Steele: and their jobs are gonna get whacked and the economy's gonna get iced big
time. Back in the head twice. boom! Boom!
Lady: Hi i'm Tammy Fenton and I'm going to be your teacher this semester and I am f*cked,
you are f*cked, we are f*cked
COMING UP NEXT… Will Durst: anyway what was I gonna say? oh
yea I just wanna assure you that I had absolutely nothing to do with the current financial crisis
Voice Over: with Goldman Sachs as the primary brokers of Cap and Trade, was Cap and Trade
ever really about the environment? (Headlines re: cap and trade and goldman sachs
buying climate exchanges) Man: the devil is always in the details
(music)
COMING UP NEXT… THE REAL HOUSEWIVES OF TENT CITY: Brought
to you by the U.S. Federal Reserve
Lady: we have a thermal polyvinyl double wide so we still feel more privileged than the
others
lady: Amber served cat! Who does she think she is? serving cat? Flaunting it like she
was made of money?
(ladies laughing in the background)
lady: I was about 3 tents over and I heard this strange noise, the likes of which I've
never heard before in Tent City. Laughing. loud hard laughing. it was so disturbing.
Who laughs anymore? I called the tent city PD and Kurt and Willie came right over.
lady: we were just laughing. We couldn't stop. We just couldn't stop
lady: I’m not so big on sentiment but I don't think we've ever been closer
(laughing and music in background)
lady: watch the lamp!
lady: I can't wait for the next party. I'm sure I can find another cat and Tiffany's
figured out how to make porta potty wine! COMING UP NEXT…
The Proud, The Rich, The Reserves – The U.S. Federal Reserve
(man screaming in background: I just know what I’ve been told: shadow bankers have
no soul. Buy out, one two, three four three four one two three four (repeats) You're screwed)
Man: do you have what it takes to take what they have? They come from every corner of
the country. Harvard, Yale, Stanford, they come in every shade of white - pale, peach,
ecru. they trade in times of peace, wage in times of war, they are the checks, the balance.
They set the standard by which we thrive. they are here with the opportunity of a lifetime
-- self-serving their country since 1913. They are the proud, the rich, the reserves.
UPCOMING SEGMENTS [STANION STUDIOS] Presents Part 1 of 8 segments
in the controversial saga of the Federal Reserve Banking system. Firmly rooted at the center
of the current financial crisis, the Federal Reserve holds the purse strings for the USA
monetary system. So it is hardly conspiracy theory to wonder about why this private and
mega-powerful "federal" reserve system has been so controversial since its inception,
why President Jackson was so opposed to a cartel as our central bank, what are the Fed's
actual factual successes and failures over the last 100 years, and how does currency,
and control of that currency, determine the balance of power in a nation, and the world.
Bait and Switch TV makes the financial collapse fun, and easy enough for a child
to understand. But fun bedtime stories aside, we also propose real, obtainable, non-extreme
alternatives to Federal Reserve Banking in this BSTV episode, including an in-depth look
at the promising prospects of public, state-owned banks. Public banking can circumvent the federal
reserve system without upsetting necessary capitalist apple carts, like the credit system,
essential to a healthy and innovating economy.
UPCOMING SEGMENTS in this comedic documentary
"Who's Afraid of the Big Bad Bank?" --with Bait and Switch TV's Expert Interviews & Comedian
Correspondents:
o History of the Federal Reserve & Fractional Lending
o The Fed,
Shadow Banking & Leveraged Buyouts (LBOs)
o Federal Reserve, BIS, IMF & Global Investment
Banks
o Government Sachs, Futures, Front-Running & the Fed
o The Fed, Discounts, Derivatives
& Re-emerging Cap&Trade
o End the Fed? Meh! It's Never Gonna Happen
o WHAT TO
DO: TAKING BACK THE MONETARY SYSTEM -- The Fed VERSUS State-Owned Public Banks
So
subscribe to BSTV and get a taste of our controversial and sizzling hot investigative issues --dipped,
deep-fried, and drizzled with comedy. Why dish up and season life and death topics with
humor? Leesa Stanion | Stanion Studios takes serious subjects and produces comedic investigative
documentaries with expert interviews, animations, satire, and music because, sometimes, laughter
can help make reality just a little more palatable.
Ben Bernanke, Ron Paul, and Wall Street Movie.
Investment banking
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