Sunday, November 1, 2009

Marcy Kaptur on the Mortgage Meltdown

Also see the repeal of the Glass Steagall Act:

Following the Great Crash of 1929, one of every five banks in America fails. Many people, especially politicians, see market speculation engaged in by banks during the 1920s as a cause of the crash.

In 1933, Senator Carter Glass (D-Va.) and Congressman Henry Steagall (D-Ala.) introduce the historic legislation that bears their name, seeking to limit the conflicts of interest created when commercial banks are permitted to underwrite stocks or bonds. In the early part of the century, individual investors were seriously hurt by banks whose overriding interest was promoting stocks of interest and benefit to the banks, rather than to individual investors. The new law bans commercial banks from underwriting securities, forcing banks to choose between being a simple lender or an underwriter (brokerage). The act also establishes the Federal Deposit Insurance Corporation (FDIC), insuring bank deposits, and strengthens the Federal Reserve's control over credit.

The Glass-Steagall Act passes after Ferdinand Pecora, a politically ambitious former New York City prosecutor, drums up popular support for stronger regulation by hauling bank officials in front of the Senate Banking and Currency Committee to answer for their role in the stock-market crash.

In 1956, the Bank Holding Company Act is passed, extending the restrictions on banks, including that bank holding companies owning two or more banks cannot engage in non-banking activity and cannot buy banks in another state.

For more information and to see how the Glass Steagall Act was repealed, see Frontline's page: The Long Demise of Glass-Steagall

The Glass Steagall Act had to be repealed before the mortgage meltdown could take place. This was something John Stossel overlooked in Government Created The Housing Bubble.

Sunday, December 23, 2007

The Inflation Tax -- How increasing the money supply causes inflation

Money Banking and the Federal Reserve by

This video can be purchased on DVD at Money Banking and the Federal Reserve

FIAT EMPIRE- Why the Federal Reserve Violates the U.S. Constitution

This video can be purchased on DVD at

Money as Debt

This video can be purchased on DVD at as well as

The Money Masters

This video can be purchased on DVD at

Note: in Gold, Peace, and Prosperity by Ron Paul pp. 20 there is a footnote stating, “Although this booklet was written to encourage the establishment of a gold-coin standard, it does not suggest the discouragement of other, non-fraudulent commodity money.” I bring this up because in The Money Masters they recommend a silver standard over a gold standard.

Booklets by Ron Paul on the Gold Standard and Economics

I personally picked these booklets because they are brief and affordable.

Mises and Austrian Economics: A Personal View by Ron Paul

Gold, Peace, and Prosperity by Ron Paul

More information from Ron Paul on The Inflation Tax

John F. Kennedy tried to move to a Silver Standard

I have seen many videos on economics, and the Federal Reserve. I have put them all together for easy reference on this page. I hope everyone will enjoy them. I don't receive any money if you purchase of these videos on DVD. I only provide the links where you can buy the videos to support the people who made them, and so, you can share the videos with your family and friends. I highly recommend purchasing DVDs so you can show these videos elderly voters.

History of Oil by Robert Newman

This video can be purchased on DVD at

I have added this video because Robert Newman adds an additional interesting perspective to US inflation. As listed in the above videos, the more US dollars are in circulation the less they are worth.

Mr. Newman examines the history of US and British involvement in the Middle East. Iraq rejecting the US dollar and turning to the Euro may have been a contributing factor to the war in Iraq.

More Information
For information on debt as a weapon, check out these films on the activities of the IMF and World Bank.