Jared Bernstein, a longtime economic aide to President Biden and chairs the White House Council of Economic Advisers, said that the US cannot go bankrupt because we can print our own money. He failed to explain why the US government chooses to borrow money when it prints the money. He was completely baffled by the time he finished trying to explain it. He said, “I guess I’m just, I can’t really, I don’t get it. I don’t know what they’re talking about.”
G. Edward Griffin, author of the book, The Creature from Jekyll Island, A Second Look at the Federal Reserve was asked for his explanation. He replied as follows:
“The federal government and the taxpayers are the borrowers, while the Federal Reserve (the consortium of commercial banks that own and operate the Federal Reserve) creates the money that is loaned. The money does not exist prior to the loan. It is true that governments could create their own money and, thereby, avoid paying interest on it as they now do, but it also is true that those same governments, over time, have become subservient to the Federal Reserve, and it would be political suicide today for politicians to seriously try to cut the banks off of interest payments on money they do not even have.It’s a scam, of course, but devious enough that most people, including Mr. Bernstein and Mr. Biden, do not understand it – and it is so outrageous that, if they did understand it, they likely would not believe it.”
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In a recent cringe-inducing moment, Jared Bernstein, Chief Economist and Economic Policy Adviser to President Joe Biden, found himself in hot water as he struggled to explain the basic concept of how money works. This occurred during an interview for an upcoming documentary titled ‘Finding The Money’, which aims to delve into the complexities of the economy.
The film’s preview teased viewers with the elusive nature of understanding money, even for those deeply involved in economic policy-making. During one particularly uncomfortable exchange, Bernstein seemed to trip over the question of how money is created and circulated.
“We all use money, and yet the questions of what is money, and where does money come from remain elusive,” the film states in the preview.
Initially asserting that the US government cannot go bankrupt because it can print its own money, Bernstein’s response soon descended into repetition and uncertainty.
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“The US government can’t go bankrupt because we can print our own money”, Bernstein initially stated, reports the Express. However, when the interviewer sought clarification on the government’s borrowing practices, Bernstein appeared to struggle with coherence.
“Well, some of the language is just confusing. The government definitely prints its own money. The government definitely prints money and lends that money. The government definitely prints money,” Bernstein kept repeating.
“It then lends that money by selling bonds. Is that what that they do?”, Bernstein queried himself. “They sell bonds and then people buy the bonds and lend the money. Yeah,” he eventually confirmed, as if to convince himself of the response.
Despite his position as Chief Economist and Economic Policy Adviser, Bernstein’s struggle to explain fundamental economic principles did not go unnoticed. He openly expressed his exasperation, conceding: “I don’t get it. I don’t know what they’re talking about.”
This episode unfolds against a backdrop where economic matters are a hot topic, with inflation worries, employment concerns, and soaring prices at the center of many conversations.
Critics oppose Monarez’ leadership role at ARPA-H, a health-focused spin on the military DARPA agency. ARPA-H focuses on AI, bioinformatics, vaccines, and wearable technologies. She is also involved with transhumanist endeavors that include biosensors, behavior tracking and implantable devices.
US Rep. Jasmine Crockett insulted Texas Governor Greg Abbott, who is in a wheelchair. She said that Senator Ted Cruz should be punched and knocked over the head. She has called for Elon Musk to be “taken down” and she assaulted a cameraman.
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Missouri recently won a $24 billion judgement against China over covering up the cause of COVID-19 [fake] pandemic and hoarding protective equipment (PPE). The state says it lost general taxes revenues due to the withholding of PPE. Missouri is moving to seize Chinese-owned farmland to collect on the judgement.
LaTarsha Brown works as an employee at Allentown City Hall and is a member of the Allentown School Board. Brown’s DNA was found on the small noose replica. She is now facing charges, but is reported to still be working at City Hall.
While Bernie Sanders bragged that 34,000 people attended the rally, only 20,189 cell phone devices were detected. An astonishing 84% of the cell phone devices present had attended 9 or more Kamala Harris rallies, Antifa/BLM, pro-Hamas, pro-Palestinian protests, and 31% had attended over 20!
Most Tesla vehicles are owned by liberals who are concerned about global warming. The leftist boycott of Tesla could affect 70,000 workers in America employed by the EV company. Elon Musk only owns 13% of Tesla.
Due to threats of war in Europe, Swedish authorities are trying to encourage citizens to keep and use cash in the name of civil defence. Cyber attacks on digital currency are also a concern. In the past, Sweden prioritized efficiency, but now it is pivoting to cash for safety and accessibility.
Cortney Merritts, the husband of ousted Democrat US Representative Cori Bush, a member of the far-left “Squad”, has been charged with defrauding the US government out of $20,000 in payments under the Covid-era Paycheck Protection (PPP) loan program
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G. Edward Griffin says, “If you read only one thing this year, make sure this is it.” While President Trump’s Executive Order 14178 explicitly banned the Federal Reserve from developing a CBDC, he supports the STABLE Act and GENIUS Act stablecoin bills that implement the same tools of control through different channels.
Israel risks war on multiple fronts including the West Bank, Lebanon, Syria, Yemen and Iran. Israel’s decision to re-enter Gaza—or a further decision to escalate on any of these other fronts—directly impacts the United States. Washington has locked itself into a cycle of policies contrary to American interests.
The newly discovered structures with highly sophisticated engineering obliterate the dynastic Egyptian model. Jay Anderson said that the Egyptian civilization narrative that we have been taught is impossible. He says it provides evidence of a pre-flood civilization that we can scarcely comprehend.
Article 8 of the Uniform Commercial Code (UCC) redefined property ownership in all 50 states in 1994 and removed ownership of property from individuals. It is a violent assault on property rights. Mr. Griffin said that people must get involved in supporting and lobbying lawmakers to change the UCC codes back.
The Department of Education “will continue to support K-12 students, students with special needs, college student borrowers, and others” while working with the states to give them control over education.
Musk was concerned about the influx of migrants who can make the US a socialist state under the Democrats. He said that DOGE is a threat to fraudulent payments for entitlements to illegal aliens, everything from Social Security, Medicare, unemployment, disability, and Small Business Administration loans.
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Offline is a documentary on the inevitability of the Earth being slammed by a mega solar flare – not the common type that interrupts communications and creates a light show in the Northern skies – but the big brothers thousands of times more powerful. These monsters deliver enough energy to blow apart the master transformers that supply the planet’s energy grids. When that happens, the lights go out for longer than anyone wants to think about. These X-Class solar storms hit the Earth every 150 years, on average. The last one arrived 156 years ago. We are overdue (More)
The IMF’s priorities are “climate change” and the UN’s Sustainable Development Goals for radical green policies. The Network of Central Banks is bringing global finance in line with the green agenda by controlling the policies of banks and insurers. Vaccine acceptance will be another factor that determines social score.
Once a digital currency is in place, government and/or Federal Reserve officials would have more power than ever to control, track and coerce individuals and US businesses—likely without needing new laws approved by Congress.
If enacted, SB 1558 would officially recognize gold and silver coins as legal tender and eliminate capital-gains taxes on gold and silver — thus bringing Texas closer to constitutional compliance and treating gold and silver as money.
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Milton Farrow
10 months ago
HE’S GOT IT WRONG- (1) MONEY WAS INITIALLY CREATED BY THE USING THE BIRTH CERTIFICATE OF THE NEWBORN ( YOU CAN CHECK FIDELITY BOND FUND AND YOU YOU FIND BONDS ISSUED ( TREASURIES) IN THE NAME OF YOUR DECEASED FAMILY MEMBERS AS WELL AS YOURSELF-don’t even think about claiming the money they will arrest your ass and jail you). It is the printing of these initial bonds in the name listed on the birth certificate ( which is how you are granted a SS card number – the bonds are then listed on the NYSE short and long term-) the… Read more »
Bob Wilkinson
10 months ago
The 7 presidents that opposed a private central bank and or printed greenbacks were assassinated. Such as Lincoln and JFK. Could you do an in-depth article on this? Thanks.
Olde Reb
10 months ago
I respectfully suggest the frn’s in our pockets are a credit from the FR [an IOU] that used to state they were transferable at the Fed for ‘lawful money,’ for gold or silver that now, after legislation, declare they are a legal tender, i.e., a govt document with taxpayers responsible for the stated value of statutory money which relieves the FR from producing lawful money.
Andrew
10 months ago
It is mind boggling that a person who has no clue that money is created via a keystroke on a computer and that it didn’t exist before it was typed into existence is in the position he’s in……
Olde Reb
10 months ago
Initially asserting that the US government cannot go bankrupt because it can print its own money, Bernstein stated.
What do you call it when the auctions of Treasury securities receives no bids ?
Cc
10 months ago
The Money Masters by Bill still explains the creation of money very well.
Tom Ball
10 months ago
I can believe that Biden is stupid enough not to understand it but Bernstein and company know exactly what they are doing, namely , WRECK the AMERICAN ECONOMY so they can have a “great reset” and full control over everyone via their central bank digital currency.
The people who engineered 9/11 are sinister but they’re not stupid.
He’s playing dumb because he’d rather appear ignorant rather than merely malevolent.
Offline is a documentary on the inevitability of the Earth being slammed by a mega solar flare – not the common type that interrupts communications and creates a light show in the Northern skies – but the big brothers thousands of times more powerful. These monsters deliver enough energy to blow apart the master transformers that supply the planet’s energy grids. When that happens, the lights go out for longer than anyone wants to think about. These X-Class solar storms hit the Earth every 150 years, on average. The last one arrived 156 years ago. We are overdue (
HE’S GOT IT WRONG- (1) MONEY WAS INITIALLY CREATED BY THE USING THE BIRTH CERTIFICATE OF THE NEWBORN ( YOU CAN CHECK FIDELITY BOND FUND AND YOU YOU FIND BONDS ISSUED ( TREASURIES) IN THE NAME OF YOUR DECEASED FAMILY MEMBERS AS WELL AS YOURSELF-don’t even think about claiming the money they will arrest your ass and jail you). It is the printing of these initial bonds in the name listed on the birth certificate ( which is how you are granted a SS card number – the bonds are then listed on the NYSE short and long term-) the… Read more »
The 7 presidents that opposed a private central bank and or printed greenbacks were assassinated. Such as Lincoln and JFK. Could you do an in-depth article on this? Thanks.
I respectfully suggest the frn’s in our pockets are a credit from the FR [an IOU] that used to state they were transferable at the Fed for ‘lawful money,’ for gold or silver that now, after legislation, declare they are a legal tender, i.e., a govt document with taxpayers responsible for the stated value of statutory money which relieves the FR from producing lawful money.
It is mind boggling that a person who has no clue that money is created via a keystroke on a computer and that it didn’t exist before it was typed into existence is in the position he’s in……
Initially asserting that the US government cannot go bankrupt because it can print its own money, Bernstein stated.
What do you call it when the auctions of Treasury securities receives no bids ?
The Money Masters by Bill still explains the creation of money very well.
I can believe that Biden is stupid enough not to understand it but Bernstein and company know exactly what they are doing, namely , WRECK the AMERICAN ECONOMY so they can have a “great reset” and full control over everyone via their central bank digital currency.
The people who engineered 9/11 are sinister but they’re not stupid.
He’s playing dumb because he’d rather appear ignorant rather than merely malevolent.