Very good history lesion but I have a question. Why do videos such as this promote an ideal but don't give the complete picture. Some questions go unanswered while some answers are misleading for they don't totally give a full answer.
Why was Federal Reserve system implemented? What is its soul propose?
Also, he mentions fairly early in the vid that if there is a deficit, we end up bailing out the banks and it assumes they always make a profit. What happens when their is a profit? My understanding is these charter banks get (X) amount that is set by the Fed and the remaining goes to the Treasury. last year the Federal Reserve net a profit of 90+ Billion and the Treasury got 78 billion of that. I am surprised this wasn't mentioned.
I enjoyed the History about Jekyll Island but it fails to mention that this proposal was initially a private venture but later was struck down. A platform was adopted to included a systematic revision of banking laws in ways that would provide relief from financial panics, unemployment and business depression, and would protect the public from the "domination by what is known as the Money Trust. This would include federal oversight. For some reason he forgets to mention this.
After that I lost a bit of interest. Im not a fan or the Federal Reserve, At times it seems to add to these Boom and Busts in the economy and at times they devaluate the dollar which I find to be manipulating. Don't worry Hx, the US are not the only country that does this. The Canadian Central Bank does the same, and has for years. The Canadian Dollar would be well above the US dollar but the central bank manipulates our currency so that it remains below the US dollar (as it is now 97 cents) so that we can sell our product in the US at a better deal.
This is a universal issue, but a good history lesion, just not complete and a bit bias.