Comments by "DrScopeify" (@drscopeify) on "John Pierpont Morgan: The World’s Bank" video.

@dougbourdo2589 The funny thing is that the fed is on your side, the fed is on the side of Americans like any central bank. They are on a constant battle with the Government on making sure the Government doesn't abuse their power and do terrible things like trigger financial chaos like so many other countries. Yes they have allot of money and power and yes they keep things secret but it is for our own good. They stand almost alone in a very hard battle every single minute to make sure our economy keeps going . The US is the destination of investment money from all over the world and that is allot of risk involved with that responsibility so you need a strong and independent organization like the Fed to fulfill that honor. If there would be one mistake the money will flee the US and probably send the country in to decades of financial trouble. The FED is really critical piece and auditing it could cause massive chaos which cant be allowed to happen if we want to keep living the way we do. Conspiracy believers just don't understand the implications of auditing an organization holding our economy country together and the more you learn that then are on your side the less sense that makes.
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That saying was true only when the dollar was backed by gold but today the dollar is backed by the American people and the economy which is far better as it provide much more growth in money than gold ever could and also put the burden of value on the shoulders of Americans. If Americans mess up and then the value of the dollar will plummet. This is a great form of checks and balances.
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Banks are always richer then the government in every country as they fund the entire economy. You want to open a new restaurant? You take a loan. You want to open a new technology company? You get loans and investments. The only place a government has more money than the banks is in North Korea or Zimbabwe
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