>The final phase of Reis' scheme was to buy controlling interest in the Bank of Portugal, a step which would allow him to retroactively make his fiction about Bank approval true. With control of the bank, the entire counterfeiting could be swept under the rug, ensuring that there would never be any evidence of the fraud.
"Eventually they controlled 10,000 of the 45,000 shares needed for controlling interest in the bank, but publicity led Bandeira to ease off the purchases even as he sent Reis ever more inflated false reports of the number of shares they had acquired."
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.
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!"
Which items contraindicate the claim?
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?
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.
For an example of Congress's authority over them: https://en.wikipedia.org/wiki/Federal_Reserve_Reform_Act_of_...
Hell, they're even subject to FOIA. https://www.federalreserve.gov/foia/about_foia.htm
https://www.youtube.com/watch?v=n0NYBTkE1yQ
https://www.youtube.com/watch?v=dX2qvbznGKM
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.
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.
https://www.frbdiscountwindow.org/Pages/General-Information/...
> 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.
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.
Step 1: Form a gang of marauders
Step 2: Rent all the courts in a village
Step 3: Rob everyone, or pollute their river or extract their resources
Step 4: Have your privately owned courts render a verdict of innocent
Step 5: Profit (because of arbitrage)
Having governments doesn’t eliminate this. Similar things are done all the time by elites in a country, or OPENLY by state capitalists extracting resources from other countries like UFC in Guatemala or BP in Iran. Except they are done systematically and no one can challenge it. Read Smedley Butler from the same time frame. Erdogan even tried to go one further and fire the entire supreme court because they may have convicted his son
The point is people band together to create larger and more powerful organizations. But it still doesn’t solve all instances just pushes the corruption to a higher level.