Jack Rasmus Interviewed on Federal Reserve's 100th Anniversary and The
Global Money Parade
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Jack is interviewed by Russia TV on the origins of the US Federal
Reserve and its primary function of bailing out the banks. Jack explains how
the recent bailout of banks by the Fed amounts to over $10 trillion, plus
another $4 trillion in quantitative easing funneled by the Fed to very
wealthy investors with bad mortgage loans. Jack explains how the Fed was
borne in the same crisis, in 1907-08, when another financial crash and
epic recession that followed led to the formation of the Federal Reserve.
He explains his concept of the global money parade and why bank-investor
bailouts lead to financial speculation and bubbles and not a sustained
recovery of the real economy.