I do recommend reading about it or watching, but what I was aiming at, is that if Reis would have succeeded, it wouldn't really be much different from the system that we have in the US today and how it got created. It was done with perhaps a bit more finesse but it's basically the same thing.
edit: I can't reply below, but the text is not that long and it's about how money works which is likely relevant to you regardless of your wealth. I suppose short abstract would be that somebody with [power/money] decided to create more money out of a thin air and succeeded. FED is not responsible before congress, the president or pretty much anybody. I'm not interested in conspiracy theories. The facts are wild enough.
> FED is not responsible before congress, the president or pretty much anybody.
This is just silly.
The Fed reports to Congress twice annually. The Chair and Board of Governors are nominated by the President and confirmed by the Senate. Their authority stems from an act of Congress, which Congress can revise/repeal, and permits the removal of the Chair or Governors by the President for cause.
You can easily find more. They can just flatly refuse to provide any info and AFAIK there's still no law that would stop them. And as far as I understand there won't be any, because money is power and they create money.
Notice that I'm not saying those are some associated evil doers (or that they are not). Societies, economy, politics, it's all very complex. But I still stand by what I wrote earlier.
> They can just flatly refuse to provide any info and AFAIK there's still no law that would stop them.
So, taking your second clip as an example, Congress wrote a requirement to disclose that information into Dodd-Frank about a year after that clip was posted. It's actually a perfect example of Congress regulating the Fed, which you falsely allege is impossible.
> In accordance with the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. No. 111-203), the Federal Reserve has changed its practices with respect to disclosure of discount window lending information. Effective for discount window loans (primary, secondary, and seasonal credit) extended on or after July 21, 2010, the Federal Reserve will publicly disclose the following information, generally about two years after a discount window loan is extended to a depository institution.
> The name and identifying details of the depository institution;
> The amount borrowed by the depository institution;
> The interest rate paid by the depository institution; and
> Information identifying the types and amounts of collateral pledged in connection with any discount window loan. This disclosure requirement does not apply to collateral pledged by depository institutions that do not borrow.
> And as far as I understand there won't be any, because money is power and they create money.
They create money because Congress chooses to have them create money. That's not a power they holdmover Congress, which can simply reclaim the power (which is Congress’s under the Constitution) at a whim.
Which specific items in the Wikipedia article support the idea that the two are similar?
I suppose evasiveness is its own answer, and I'm probably gonna skip the YouTube video whose comments are full of "it's the Rothschilds and Lincoln was assassinated over this!"
The fact that the Federal Reserve was deliberately created by an act of Congress, and the Portugal crisis was triggered a fraudster forging contracts and counterfeiting currency?
In general, when person X makes claim Y, and cites Z as evidence, if Z doesn't actually support Y, then X is presumed to not have a valid basis for claiming Y. "Z does not disprove Y" is not needed. "Z does not support Y" is enough.
edit: I can't reply below, but the text is not that long and it's about how money works which is likely relevant to you regardless of your wealth. I suppose short abstract would be that somebody with [power/money] decided to create more money out of a thin air and succeeded. FED is not responsible before congress, the president or pretty much anybody. I'm not interested in conspiracy theories. The facts are wild enough.