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  • 1 year ago
CW 811 FBF - The American Monetary System and QE2 with Ellen Brown Attorney and Author of ‘Web of De

CW 811 FBF - The American Monetary System and QE2 with Ellen Brown Attorney and Author of ‘Web of De

Join Jason Hartman and returning guest, Ellen Brown, author of Web of Debt, for a discussion of the United States’ debt ceiling, QE2, inflation, as well as a brief explanation of how money came to equal debt. Ellen explains why the debt ceiling is unconstitutional, how the government is legally committed to paying its debts. She points out the contradiction that has been for more than 100 years, since WWI. The easing put into place at that time was only to be a temporary measure. Ellen also talks about shadow banking causing the crisis by money being lent into existence, slight of hand. The only real money are coins, which are one-tenth of the total money in circulation. Ellen also discusses QE2 , where the government agreed to pay the interest on borrowed money in order to maintain control of the Federal Funds rate. She said there are a lot of reserve funds on the books in certain foreign banks, including bond dealers, that is just being held.  Ellen also touches on the national debt

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