The Greatest Truth Never Told 1. The Riddle

http://youtu.be/46WUn69SaeY

Here is the first of many from The Greatest Truth Never Told.  Enjoy.

18 comments to The Greatest Truth Never Told 1. The Riddle

  • Upside-down V-shaped recovery

    Congratulations on the first video. Excellent!

  • I’ve been looking forward to this Chris …

    … I’m really excited about the first meeting.

  • Fred

    Off topic … but I thought it worth running by you since you’ve posted repeatedly on this. Not saying I agree with this below, in fact I believe I see some fallacy in the argument. Still, seeing as who wrote this, it carries some weight.
    ==========

    WHO CREATES THE MONEY TO PAY THE INTEREST? – G. Edward Griffin.

    One of the most perplexing questions associated with this process is “Where does the money come from to pay the interest?” If you borrow $10,000 from a bank at 9%, you owe $10,900. But the bank only manufactures $10,000 for the loan. It would seem, therefore, that there is no way that you – and all others with similar loans – can possibly pay off your indebtedness. The amount of money put into circulation just isn’t enough to cover the total debt, including interest. This has led some to the conclusion that it is necessary for you to borrow the $900 for the interest, and that, in turn, leads to still more interest. The assumption is that, the more we borrow, the more we have to borrow, and that debt based on fiat money is a never-ending spiral leading inexorably to more and more debt.

    This is a partial truth. It is true that there is not enough money created to include the interest, but it is a fallacy that the only way to pay it back is to borrow still more. The assumption fails to take into account the exchange value of labor. Let us assume that you pay back your $10,000 loan at the rate of approximately $900 per month and that about $80 of that represents interest. You realize you are hard pressed to make your payments so you decide to take on a part-time job. The bank, on the other hand, is now making $80 profit each month on your loan. Since this amount is classified as “interest,” it is not extinguished as is the larger portion which is a return of the loan itself. So this remains as spendable money in the account of the bank. The decision then is made to have the bank’s floors waxed once a week. You respond to the ad in the paper and are hired at $80 per month to do the job. The result is that you earn the money to pay the interest on your loan, and – this is the point -the money you receive is the same money that you previously had paid. As long as you perform labor for the bank each month, the same dollars go into the bank as interest, then out the revolving door as your wages, and then back into the bank as loan repayment.

    It is not necessary that you work directly for the bank. No matter where you earn the money, its origin was a bank, and its ultimate destination is a bank. The loop through which it travels can be large or small, but the fact remains all interest is paid eventually by human effort. And the significance of that fact is even more startling than the assumption that not enough money is created to pay back the interest. It is that the total of this human effort ultimately is for the benefit of those who create fiat money. It is a form of modern serfdom in which the great mass of society works as indentured servants to a ruling class of financial nobility.

  • Silver Shield

    @ Fred
    The fact still remains that the interest can only be paid for with more debt.
    It does not matter if 100% of the interest is paid back into the economy at it’s core power money between the Fed and .gov that interest money is never created without more debt. That is how the Fed manipulates the entire world economy.

    Of course the interest is never paid back into the economy because the government sucks it up with taxes to pay the debts it had made and when they run short they take on more debt and pledge your labor to pay for it through the threat of violence or a friendly audit.

    I find it interesting that GE Griffin chose to use an example of a retail consumer debt as his example and not the money creator the Fed.

    Of course all interest is paid with labor so is all principle. That is what a debt is a pledge of your labor or the stored up labor of your assets. This is the new serfdom and I do not see how this little article changes the mathematical inevitability of a dollar collapse.

    Debt must be expanded every year in excess of the debt and interest created the year before or we will have the mother of all margin calls in this highly leveraged world.

    Eventually the debt becomes so large we default on it or we do pay for it with more debt/money so much so that the money/debt itself becomes worthless, either way, the dollar and our paradigm is toast.

  • Gareth

    Damn it.

    My internet dongle has a d/l cap which interacts with youtube for some reason. Can’t view it, Chris, but I’m sure it was good.

    Griffin, like the guy who wrote ‘money masters’, Mike Ruppert, and many others are form a different era and view things different to most under 40. They’ve good ideas and research overall, but probably though the world would never ‘wake up’.

    GC of trends journal uses some sort of link for vids that I can always view, dude, not sure what it is though?

    I use a pre-paid dongle, paid for with cash and topped-up with cash. I do live in big brother central, so you could hardly blame me :-)

  • WRAY

    SOUND WAS TOO LOW…COULD NOT HEAR PRESENTATION

  • Pete Bonicelli Jr.

    Thanks and Keep Pressing Brother Chris! : )

  • R. J.

    It’s a nice message but naive IMHO. The collapse of the dollar is going to cause global tumult and chaos. Depending on the speed of it’s inevitable collapse, There are going to be societies that go into full-fledged violence and anarchy followed by some kind of totalitarian regime that restores order and then takes total control. I do not know what the future is but it would seem to me world peace defies the history of human nature. Warfare may change but it is not going away as only the dead have seen it’s end. Whether it’s going to be fought with “smart” bombs or sharpened sticks makes a difference only in the size and scope of the conflic. This is a nice dream…

  • Buffy

    The only way for Griffin’s theory to work is if the $80 debt was cancelled(forgiven) each month in exchange for the labor.

    The only way out of this Financial mess is to clear(zero, forgive) all debt.
    no matter what else they do, it is just kicking the can down the road and will eventually end. If TPTB wish to keep us hooked into their system, this is what they will have to do before we get weened off their drug. Sounds great for those who have debt, sounds almost divine. Would you accept being chipped in exchange for your debts to be cleared?

  • Wes McKay

    ABSOLUTELY OUTSTANDING:

    IT REMINDS ME OF THIS:

    Republic:

    I like the sound of the word;

    It means men can live free, talk free, go or come, buy or sell, be drunk or sober, however they chose.

    Some words give you a feeling — Republic — is one of those words.

    That makes me tight in the throat – The same tightness a man gets when his baby takes his first steps,

    When his baby first shaves — or — when he makes his first sounds like a man.

    Some words can give you a feeling — that makes your heart warm.

    Republic — is one of those words.

    THOSE WHO DISAGREE ARE IN THE WRONG COUNTRY, WE FOUGHT TOO HARD AND MANY HAVE DIED FOR WHAT WE HAVE, I ONLY HAVE ONE THING TO ADD.

    AMERICA ….. LOVE IT or LEAVE IT

  • Alfred Newman

    This presentation puts things in perspective and in very simple terms anyone should be able to reckon.
    The way I see it; we’re either going to have more government or less government, so it could go either way (in my opinion) depending on the level of tacit approval granted by a lazy and distracted general populace.
    After all; this is a “democracy” isn’t it, and if the populace is dumb enough to continue to be tricked into asking for the very things they do not want, they’ll get exactly what they “ask” for.
    I’m not one of those people who wait around wondering what they’re going to hit us with next- I’m paying attention to their ministrations and am fighting back with a letter to my congressman now and then and a spending a goodly portion of my time poring over new legislation. I probably don’t have to tell you I am for less government.
    Since your government lives for information (the one thing they crave more than money) they hear from me quite often (I’m one of their reliable sounding-boards)and they will find some resistance at the front of that particular incremental push as they initiate.
    I can only hope I’m not the only one saying “ouch” because if I am; I’m sure they will have a special place for me once the SHTF…
    So I know where Chris is coming from when he says it can sometimes get discouraging and at times it seems that no one’s paying attention.

    Well, I am here to tell you that I’m paying attention and I can only see great things coming out of this…This is a great message and really highlights how far this has gone in a relatively short time.I can see that Chris puts a year’s work into this project in two months time on a habitual basis. Kudos and please continue!!!

  • Lisa Favara

    Is that really what you think? That after the dollar collapses things will be great? After the dollar collapses they will replace it with either the Amero or a world currency linked to a authoritarian world goverment. I wish it were that easy.

    • Silver Shield

      Patience Lisa…

      There is much more coming.

      I will tell you that this is not an easy road but if you are aware, you can prepare.

  • tallpaulp

    wes, wake up, we all from earth, not usa, and if any one has the right to tell anyone to leave your good old usa it would be the millions of native indians who lost THEIR country. before planning for the future learn somethings about the past by the way,it that mind set that stops so many people ever believing in a united world.

  • Dar

    In only 4 short minutes you laid out the truth in a simplistic way that cuts deep into the human spirit. Thanks Chris.

  • Lee Bond II

    Suggestion, Adding a share on facebook button. Since millions of people use it every single day – the ability to redistribute this info to others is a vital resource being completely overlooked.Make it happen – spread the truth!

  • Wes McKay

    tallpaulp writes:

    ” we all from earth, not usa, ”

    You really need to get some help, and as far as history is concerned, take your own advise … and then … get a life.

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