February 20, 2020 • 15 mins
George Noory and author Ellen Brown explore her research into the banking system and Federal Reserve, if it works fairly, and if a disaster like the coronavirus could cause a world banking collapse.
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Speaker 1 (00:00):
Now here's a highlight from Coast to Coast AM on
iHeartRadio and welcome back to Coast to Coast George Nory
with you, Ellen Brown with us, and we are talking
about our latest work, banking on the people. Ellen, Well,
did we ever get to the time where somebody goes
to the bank to withdraw money in the bank says
(00:20):
we don't have any That did happen in the nineteen thirties,
of course, in the Great Depression, and then we got
FDIC insurance. In fact, I would argue that what they
should have done with strength and the postal banking system,
which was a public banking system that everybody liked very
(00:41):
much because it was so secure, and they were pulling
their money out as the commercial banks and putting it
in the postal service. But what Roosevelt did instead was
to grant FDIC insurance, which meant that we the people
are guaranteeing our own money in private banks, but the
bankers are getting the profits. So that's not going to
(01:04):
happen again because we now have FDIC protection. But the
FDIC itself only has a certain limited amount of money
to cover I think ten trillion in deposits or six trillion,
I guess is what's actually covered by FDIC insurance. They
can borrow from the Federal Reserve. They have a credit
(01:27):
line with the Federal Reserve, so and which goes to
five hundred billion. But you can imagine that if it
ever came to that, they would probably increase the credit line,
and the Fed can make all the money it needs to.
So the banks aren't unsafe in that respect. The way
(01:48):
that they're really unsafe is that they gamble in or
they've got interlocking derivatives with some very risky players like
Deutsche Bank at the moment and some banks that are
right on the edge that so they've got all these
cross bets going in the derivatives market, which is really
just gambling, and so the banks themselves could if the
(02:14):
banks go down, then it's like a big domino effect
where one bank will go down and then another I'll
go down, and hedge funds will go down and you know,
big business, what a mess? Right, Yeah, so you could
definitely have another big crash, and many people are predicting that.
How many people think ellen that the Federal Reserve is
(02:35):
attached to the US government and not a private banking institution. Well,
I think more and more people are coming to realize
that it's definitely got a private element. I mean, you
could argue both ways. It's the federalies are board is government.
It's selected by the President and Congress. But the federalis
(02:58):
are banks. They're ten banks that make up the Federal Reserve,
and they are one hundred percent owned by the banks
in their district. And the banks actually get a dividend
on their or get interesting, I guess called the dividend,
but it's six percent they get annually on their investment.
(03:19):
Not bad when we get less than one percent, right, Yeah,
what in terms of countries with banking systems, is there
one that stands out as one of the best. Is
it Switzerland or where is it? I would say China.
I mean, I'm not saying we should copy China and everything,
(03:42):
but the Chinese banking city. The Chinese government owns the
greater the large majority of their banking assets. And if
they want to build something like let's say they want
to build high speed rail. They built a thousand miles
of high speed rail in ten years, and all they
(04:04):
have to do is borrow from one of their own banks.
The bank then creates the money on its books, as
all banks do when they make a loan. Theoretically, that
loans supposed to be paid back, and it will be
paid back if it's something like railroads that are earning
assets to be paid back from the proceeds of the
(04:25):
thing that's invested in. But the way the Chinese do it,
if the thing they invested in, if it's say it's
a business, and the business goes bust and can't pay
back the loan, they don't put the business into bankruptcy,
particularly if it's government owned. What they take it, don't
they Well, they don't put the bank into bankruptcy either.
(04:45):
They just allow those bad loans to stay there on
the books, and because they're the regulators, they can do
that and it doesn't actually hurt the economy. People think
it would, and we all complain that, oh, they've got
all these bad loans and their books and they're going
to go bankrupt, But the economy actually needs extra money
(05:06):
in it because of the way our money is created.
It's created as a loan. The bank doesn't create the interests,
they just create the principles. So over like thirty years
on a mortgage, you're going to owe twice as much
back as was created in the original loan. So there's
never enough money in the system in the real economy
that produce or consumer economy to pay back the loans
(05:30):
that create the money supply in the first place. So
you need to get some extra money out there with
The way they did in like in Samar ancient Samaria
in Babylonia was to do periodic debt jubilees where they
just forgive all the debts and you know, start all
over again. I thought they were going to do that
(05:51):
in two thousand and eight, but I guess they didn't
do it for us. No, The problem is that now
the banks are privately owned and you're not going to
get them to agree to that. In summer in Babylon,
that banker was the temple and the gods supposedly, you know,
the king was the representative of the gods, and the
(06:12):
gods owned everything. Who who knows for sure who those
might have been. Extraterrestrials maybe, But we can't do that today.
But the other alternative is to fill that gap between
the available money and the debt with it, to fill
it with some extra money. Just create some money and
(06:35):
put it out there, and that's why we could and
actually need to do something like a universal basic income
or all those other things we think we can't afford.
We can't afford them. Put some extra money out there.
I mean, you can do a computer program and figure
out how much how much extra money the economy can handle,
and then pump it out there. Don't not as a debt,
(06:57):
you know, don't do it. Don't run up your interest tab,
which is the way we do it now where the
government spends by going further and further into debt, and
soon we're going to have be paying a trillion dollars
annually just on the interest I think by something like
twenty twenty seven. So that's a huge cut for why
(07:18):
do we need to pay interest on money that our
federal reserve has the power to create in the first place. Ellen,
let me ask you this too about the coronavirus, because
you've looked into so many health related issues. It broke
out in Wuhan, China, and there is a bio weapons
lab in Wuhan. Did this thing break loose? Was somebody
(07:40):
playing around with something? Well it's there's that theory and
then the other theory. You know, in China, there are
actually news I saw a news clip which looked very
much like our news clips, which said that it had
now been established by a Chinese study, Chinese researchers that
(08:02):
it was a bioweapon, that four proteins had been altered,
and they were presuming that we did it. And the
Russians also have in their regular news they are saying
that we did it. And in the Middle East, I
guess their news stations that are saying the same thing
and really are and we are suggesting that they did it,
(08:25):
that it escaped from their lab and that they were
doing illegal something happened. I'm convinced of that. Yeah, well,
I'm convinced it's a bioweapon, But then the question is
who created it and did it escape or was it
planted there? So it seems to me, I mean what,
I've done a ton of research for the last few days,
(08:46):
just because it's such a heavy, heavy, even though it's
not necessarily my use a line of research, I just
want to know, you know. Aaron Russo made a documentary
called From Freedom to Fascism in two thousand and six,
and he said that Nicholas Rockefeller had befriended him and
(09:10):
was trying to enlist him in the CFR and you know,
the Council of Foreign Relations. Yeah, yeah, the New World
Order Group. And in the course of that he revealed
that the plan was to get everybody microchipped. And so
you'd be microchipped with your financial information among other things
and so and then you'd get rid of there'd be
(09:33):
no paper currency or credit cards, but somebody will cut
it out of your hand or something. Yeah, It'll all
be digital and it would all be you know, imprinted
right in your finger. And then they could control people
because they can turn off their money. You know, anybody
who gets out of line, you turn out. What are
they going to do? They can't eat, they can't get
a job, etc. So there was that, and then there
(09:57):
was another whistleblower in twenty t and there was a
video made by UM project. Um what's it called the
project the avalon the which is yeah project, And so
it was that the interviewee was a man who was
(10:21):
a high level bureaucrat in the City of London, which is,
you know, separate from the actual city of London. It's
called the City of London. It's really and it's its
own country basically, and it's the financial control center of
the world, or as he described it. And he said
he found himself in a meeting where he thought he'd
(10:41):
gotten invited by mistake, and it was, you know, it
was a Masonic meeting. They just used the Masons really
for cover so they could have secret meetings. And it
was a lot of public figures, well known public figures,
and they were discussing a plan that apparently they were
behind schedule on. And the next thing that was supposed
(11:01):
to happen was that Iran was supposed to get provoked
into starting a war with Israel and then that would
be a limited nuclear war and there was several million
people would be killed, and that would frighten all the
countries into imposing police states. What's wrong with people, Ellen,
(11:22):
What's wrong with them? I mean, why do they want
so much control over everything? Because I think things you're
saying are probably pretty true. Yeah, And then then China
was supposed, we were supposed to provoke China into a wide,
you know, a global nuclear war using a virus, a
(11:45):
weaponized virus that would be targeted specifically to the Chinese.
And you know, there is evidence that there haven't been
any Caucasians that have died. As far as I've seen,
there's evidence that. Well, and why is China always the
spot for these diseases? Stars everything comes out of China,
I don't get it. Well, apparently according to these insiders,
(12:07):
because it's growing too fast and they're um they Well,
so the ultimate goal of that set of insiders, who
were you know, in the City of London, which is
the banking control center, was to actually eliminate half the
global population because there are just too many people on
the planet, and then they could control the other half
(12:30):
through these through these implanted chips chips. Yeah. So so
then the question is how do you get everybody to
accept these chips. Well, obviously a big pandemic where everybody's
frightened to death and they're willing to get get the vaccines. Well,
(12:50):
we now actually have something called ID twenty twenty, which
is a combination of injectable microchips with your with your
financial data on it, injected through vaccines, and they're talking
about this is the way to get everybody, um, you
know microchip because the chip is like the size of
a grain of rice, isn't it. Yeah, And they're actually
(13:13):
doing it in Bangladesh right now. And in Austin, Texas
where they're the homeless people are they're chipping chipping homeless people. Yeah,
in order to get that's how they can get their welfare.
Is they you know, they can prove who they are
through the chip or they try down. Yeah. So you
(13:34):
could just envision and they're I mean, I've heard people
say the fear is that this pandemic is so bad
you can't tell if somebody's a carrier even they can
be carrying it for a couple of weeks before they
have any symptoms, and so everybody has to get the vaccines.
That that's what that would be the argument. And you know,
(13:56):
in a police state, they can impose that on us
and then we all get anyway, it seems to me
that it is not the Chinese government or the American government.
I mean it would be it's just hard to envision that.
Why would we do it in order, I mean just
for economic reasons. We're not that bloodthirsty, and why would
the Chinese do it to their own people? But you
(14:19):
can envision a deep state, deep state, some rogue group
or something that's maybe arguably been You could argue they've
been around for thousands of years if you went it,
and they could be testing it, testing it in China
before they take it worldwide, which is apparently what it's
doing on its own. Yeah. So, so the reason I
(14:39):
even want to talk about it is it seems to
me that quite likely that we'll get retaliation if the
Chinese actually think we did something so horrible and unless
they know someone to let them know we didn't do
it either, unless unless they did it by accident, you know,
well that's possible. But you know, it's sad that they
(15:00):
would not put one of these bioweapons lab right in
the middle of a big city. The lab that they
have there is just one for I guess testing patients
or something, but it's not one for actually creating new
viruses in those things. They put way out in the
sticks and they're highly secretive, and you know, only the
(15:21):
military even knows where they are. So I've read big
Guest story today, the world braces for decline in products
from China. I mean, it's killing them. Listen to more
Coast to Coast AM every weeknight at one am Eastern,
and go to Coast to Coast am dot com for
more
Now here's a highlight from Coast to Coast AM on
iHeartRadio and welcome back to Coast to Coast George Nory
with you, Ellen Brown with us, and we are talking
about our latest work, banking on the people. Ellen, Well,
did we ever get to the time where somebody goes
to the bank to withdraw money in the bank says
(00:20):
we don't have any That did happen in the nineteen thirties,
of course, in the Great Depression, and then we got
FDIC insurance. In fact, I would argue that what they
should have done with strength and the postal banking system,
which was a public banking system that everybody liked very
(00:41):
much because it was so secure, and they were pulling
their money out as the commercial banks and putting it
in the postal service. But what Roosevelt did instead was
to grant FDIC insurance, which meant that we the people
are guaranteeing our own money in private banks, but the
bankers are getting the profits. So that's not going to
(01:04):
happen again because we now have FDIC protection. But the
FDIC itself only has a certain limited amount of money
to cover I think ten trillion in deposits or six trillion,
I guess is what's actually covered by FDIC insurance. They
can borrow from the Federal Reserve. They have a credit
(01:27):
line with the Federal Reserve, so and which goes to
five hundred billion. But you can imagine that if it
ever came to that, they would probably increase the credit line,
and the Fed can make all the money it needs to.
So the banks aren't unsafe in that respect. The way
(01:48):
that they're really unsafe is that they gamble in or
they've got interlocking derivatives with some very risky players like
Deutsche Bank at the moment and some banks that are
right on the edge that so they've got all these
cross bets going in the derivatives market, which is really
just gambling, and so the banks themselves could if the
(02:14):
banks go down, then it's like a big domino effect
where one bank will go down and then another I'll
go down, and hedge funds will go down and you know,
big business, what a mess? Right, Yeah, so you could
definitely have another big crash, and many people are predicting that.
How many people think ellen that the Federal Reserve is
(02:35):
attached to the US government and not a private banking institution. Well,
I think more and more people are coming to realize
that it's definitely got a private element. I mean, you
could argue both ways. It's the federalies are board is government.
It's selected by the President and Congress. But the federalis
(02:58):
are banks. They're ten banks that make up the Federal Reserve,
and they are one hundred percent owned by the banks
in their district. And the banks actually get a dividend
on their or get interesting, I guess called the dividend,
but it's six percent they get annually on their investment.
(03:19):
Not bad when we get less than one percent, right, Yeah,
what in terms of countries with banking systems, is there
one that stands out as one of the best. Is
it Switzerland or where is it? I would say China.
I mean, I'm not saying we should copy China and everything,
(03:42):
but the Chinese banking city. The Chinese government owns the
greater the large majority of their banking assets. And if
they want to build something like let's say they want
to build high speed rail. They built a thousand miles
of high speed rail in ten years, and all they
(04:04):
have to do is borrow from one of their own banks.
The bank then creates the money on its books, as
all banks do when they make a loan. Theoretically, that
loans supposed to be paid back, and it will be
paid back if it's something like railroads that are earning
assets to be paid back from the proceeds of the
(04:25):
thing that's invested in. But the way the Chinese do it,
if the thing they invested in, if it's say it's
a business, and the business goes bust and can't pay
back the loan, they don't put the business into bankruptcy,
particularly if it's government owned. What they take it, don't
they Well, they don't put the bank into bankruptcy either.
(04:45):
They just allow those bad loans to stay there on
the books, and because they're the regulators, they can do
that and it doesn't actually hurt the economy. People think
it would, and we all complain that, oh, they've got
all these bad loans and their books and they're going
to go bankrupt, But the economy actually needs extra money
(05:06):
in it because of the way our money is created.
It's created as a loan. The bank doesn't create the interests,
they just create the principles. So over like thirty years
on a mortgage, you're going to owe twice as much
back as was created in the original loan. So there's
never enough money in the system in the real economy
that produce or consumer economy to pay back the loans
(05:30):
that create the money supply in the first place. So
you need to get some extra money out there with
The way they did in like in Samar ancient Samaria
in Babylonia was to do periodic debt jubilees where they
just forgive all the debts and you know, start all
over again. I thought they were going to do that
(05:51):
in two thousand and eight, but I guess they didn't
do it for us. No, The problem is that now
the banks are privately owned and you're not going to
get them to agree to that. In summer in Babylon,
that banker was the temple and the gods supposedly, you know,
the king was the representative of the gods, and the
(06:12):
gods owned everything. Who who knows for sure who those
might have been. Extraterrestrials maybe, But we can't do that today.
But the other alternative is to fill that gap between
the available money and the debt with it, to fill
it with some extra money. Just create some money and
(06:35):
put it out there, and that's why we could and
actually need to do something like a universal basic income
or all those other things we think we can't afford.
We can't afford them. Put some extra money out there.
I mean, you can do a computer program and figure
out how much how much extra money the economy can handle,
and then pump it out there. Don't not as a debt,
(06:57):
you know, don't do it. Don't run up your interest tab,
which is the way we do it now where the
government spends by going further and further into debt, and
soon we're going to have be paying a trillion dollars
annually just on the interest I think by something like
twenty twenty seven. So that's a huge cut for why
(07:18):
do we need to pay interest on money that our
federal reserve has the power to create in the first place. Ellen,
let me ask you this too about the coronavirus, because
you've looked into so many health related issues. It broke
out in Wuhan, China, and there is a bio weapons
lab in Wuhan. Did this thing break loose? Was somebody
(07:40):
playing around with something? Well it's there's that theory and
then the other theory. You know, in China, there are
actually news I saw a news clip which looked very
much like our news clips, which said that it had
now been established by a Chinese study, Chinese researchers that
(08:02):
it was a bioweapon, that four proteins had been altered,
and they were presuming that we did it. And the
Russians also have in their regular news they are saying
that we did it. And in the Middle East, I
guess their news stations that are saying the same thing
and really are and we are suggesting that they did it,
(08:25):
that it escaped from their lab and that they were
doing illegal something happened. I'm convinced of that. Yeah, well,
I'm convinced it's a bioweapon, But then the question is
who created it and did it escape or was it
planted there? So it seems to me, I mean what,
I've done a ton of research for the last few days,
(08:46):
just because it's such a heavy, heavy, even though it's
not necessarily my use a line of research, I just
want to know, you know. Aaron Russo made a documentary
called From Freedom to Fascism in two thousand and six,
and he said that Nicholas Rockefeller had befriended him and
(09:10):
was trying to enlist him in the CFR and you know,
the Council of Foreign Relations. Yeah, yeah, the New World
Order Group. And in the course of that he revealed
that the plan was to get everybody microchipped. And so
you'd be microchipped with your financial information among other things
and so and then you'd get rid of there'd be
(09:33):
no paper currency or credit cards, but somebody will cut
it out of your hand or something. Yeah, It'll all
be digital and it would all be you know, imprinted
right in your finger. And then they could control people
because they can turn off their money. You know, anybody
who gets out of line, you turn out. What are
they going to do? They can't eat, they can't get
a job, etc. So there was that, and then there
(09:57):
was another whistleblower in twenty t and there was a
video made by UM project. Um what's it called the
project the avalon the which is yeah project, And so
it was that the interviewee was a man who was
(10:21):
a high level bureaucrat in the City of London, which is,
you know, separate from the actual city of London. It's
called the City of London. It's really and it's its
own country basically, and it's the financial control center of
the world, or as he described it. And he said
he found himself in a meeting where he thought he'd
(10:41):
gotten invited by mistake, and it was, you know, it
was a Masonic meeting. They just used the Masons really
for cover so they could have secret meetings. And it
was a lot of public figures, well known public figures,
and they were discussing a plan that apparently they were
behind schedule on. And the next thing that was supposed
(11:01):
to happen was that Iran was supposed to get provoked
into starting a war with Israel and then that would
be a limited nuclear war and there was several million
people would be killed, and that would frighten all the
countries into imposing police states. What's wrong with people, Ellen,
(11:22):
What's wrong with them? I mean, why do they want
so much control over everything? Because I think things you're
saying are probably pretty true. Yeah, And then then China
was supposed, we were supposed to provoke China into a wide,
you know, a global nuclear war using a virus, a
(11:45):
weaponized virus that would be targeted specifically to the Chinese.
And you know, there is evidence that there haven't been
any Caucasians that have died. As far as I've seen,
there's evidence that. Well, and why is China always the
spot for these diseases? Stars everything comes out of China,
I don't get it. Well, apparently according to these insiders,
(12:07):
because it's growing too fast and they're um they Well,
so the ultimate goal of that set of insiders, who
were you know, in the City of London, which is
the banking control center, was to actually eliminate half the
global population because there are just too many people on
the planet, and then they could control the other half
(12:30):
through these through these implanted chips chips. Yeah. So so
then the question is how do you get everybody to
accept these chips. Well, obviously a big pandemic where everybody's
frightened to death and they're willing to get get the vaccines. Well,
(12:50):
we now actually have something called ID twenty twenty, which
is a combination of injectable microchips with your with your
financial data on it, injected through vaccines, and they're talking
about this is the way to get everybody, um, you
know microchip because the chip is like the size of
a grain of rice, isn't it. Yeah, And they're actually
(13:13):
doing it in Bangladesh right now. And in Austin, Texas
where they're the homeless people are they're chipping chipping homeless people. Yeah,
in order to get that's how they can get their welfare.
Is they you know, they can prove who they are
through the chip or they try down. Yeah. So you
(13:34):
could just envision and they're I mean, I've heard people
say the fear is that this pandemic is so bad
you can't tell if somebody's a carrier even they can
be carrying it for a couple of weeks before they
have any symptoms, and so everybody has to get the vaccines.
That that's what that would be the argument. And you know,
(13:56):
in a police state, they can impose that on us
and then we all get anyway, it seems to me
that it is not the Chinese government or the American government.
I mean it would be it's just hard to envision that.
Why would we do it in order, I mean just
for economic reasons. We're not that bloodthirsty, and why would
the Chinese do it to their own people? But you
(14:19):
can envision a deep state, deep state, some rogue group
or something that's maybe arguably been You could argue they've
been around for thousands of years if you went it,
and they could be testing it, testing it in China
before they take it worldwide, which is apparently what it's
doing on its own. Yeah. So, so the reason I
(14:39):
even want to talk about it is it seems to
me that quite likely that we'll get retaliation if the
Chinese actually think we did something so horrible and unless
they know someone to let them know we didn't do
it either, unless unless they did it by accident, you know,
well that's possible. But you know, it's sad that they
(15:00):
would not put one of these bioweapons lab right in
the middle of a big city. The lab that they
have there is just one for I guess testing patients
or something, but it's not one for actually creating new
viruses in those things. They put way out in the
sticks and they're highly secretive, and you know, only the
(15:21):
military even knows where they are. So I've read big
Guest story today, the world braces for decline in products
from China. I mean, it's killing them. Listen to more
Coast to Coast AM every weeknight at one am Eastern,
and go to Coast to Coast am dot com for
more
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