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 going through I'm at part three right now and uh reserves not required now you talk about the 200 billion dollar gift you never intended to give and I I can't recall specifically but I think what you're referring to is prior to the GFC the banks weren't paid interest on their reserves and post GFC they are paying interest on the reserves and you pose a very good question who's paying it who's paying for those for for all this money that's going to the the banksters now

that they have four trillion dollars you know maybe it's down to three trillion now but they're getting all this interest on their quote-unquote excess reserves who's paying and then you kind of connect the dots and say it's you the taxpayer right yeah the FED is supposed to turn over all of their profits to uh the treasury to either reduce the deficit or pay down the debt uh and uh the FED most people would think well the FED will just print the dollars and that's where the the interest is coming

from but they can't just print they can only print if they buy some they've got to have an asset to reflect every liability in the liability or the dollars that they create and so they have to buy an asset and those assets that they buy are uh treasuries and mortgage-backed securities and so uh what the the profits that the FED makes that they're supposed to turn over to the treasury are the uh the interest that those treasury bonds that they buy by counterfeiting currency into existence they buy this the the

treasuries pay interest the mortgage-backed Securities pay interest where does that interest come from your future tax payments and your future mortgage payments so it's us paying the bill and since this is not being turned over to the uh treasury but given to the banks instead as a free gift because Ben Bernanke is the one that shove you know him and then Powell followed his uh lead but shoved all of this three trillions 4.2 trillion at one point of reserves on the bank's balance sheets and then they

they want the banks to just leave it there um uh so they started paying interest uh so it was a gift the banks didn't even want this excess currency they got by with just 40 billion dollars roughly they didn't need 4.2 trillion all they needed was 40 billion with a b and that was enough to make the whole system work and then there was required reserves and excess reserves back then uh required reserves uh this included Vault cash so you look at loans and leases versus deposits and so on and and you have to

deduct currency and circulation but but uh Vault cash is part of their reserves and so the actual excess reserves that they're using for interbank settlement was just a slim a tiny little slice of the currency Supply and today it's huge and now we're paying interest on it and it is the public that's paying and they're paying twice because not only did this not go to the treasury to pay down the debt but the treasury now has to issue more bonds to make up that difference they've got an

issue more uh debt and which requires us to pay and your children and your children's children we'll be paying for this and it was all Ben bernanke's great idea back in 2002 yeah and you know makes it even more crazy Mike is as Jerome Powell increases interest rates that's more and more interest that he's paying the banksters yes because the just for clarification and you just nailed it the the reason they have to pay interest on those reserves is because if they didn't there's so many reserves in the system

that the natural interest rate would be zero at all times they they wouldn't be able to raise the FED funds rate so as they raise the FED funds rate it just exacerbates what you're talking about more interest to the bankers than the taxpayer inevitably has to pay uh it has to give up more of their purchasing power to Jamie dimon basically as as the bed tries to quote unquote fight inflation yeah if you take the three trillion dollars roughly that the banks have it as we it the reserves have

shrunk from 4.2 down to about 3 trillion but we're at what 4.6 now on the FED funds rate take three trillion times 4.6 percent divided by 12 months and you'll you'll find that we're paying them about 11 billion dollars a month that it's raining free currency on these Banks normally they would have to work for a currency they would have desks and power being consumed and have to make an investment in computers and phones and employees and they would have to work for that they're getting 11 billion

dollars a month of of very high power currency because it's just pure profit to the bottom line and a couple of Parts later I show the correlation of this reigning of free currency on the stock markets rising and so right now uh you know the stock markets uh Rose for a while and they broke a downtrend line which is a positive thing that downtrend line should act as support when the crash be you know starts to continue yeah and I said in the work that because of this interest and this was written

back in October of last year because of this interest we will probably see some sort of bear Market rally uh in the middle of this this is a correction of a warping of the that's what people need to understand and that's the reason they should get the book is because this is a warping of the economy where uh wealth is being transferred from Main Street to Wall Street the financialization of the economy and it pumped the markets in the low real estate uh the low interest pumped up real estate into massive

bubbles that need to be corrected and when you get into chapter five which is the almost everything bubble I show the scale of the bubbles and then there's two economists out of Europe that had done a study where they took 17 Advanced countries and looked at their their stock market capitalization to the GDP of the country going all the way back into the 1800s we never had Data before that went back before the 50s on the Buffett indicator the size of the economy compared to the value of the

stock markets and so people a lot of people thought this upward Trend over time was natural and it is not natural we've been in a hyperbubble since the late 90s and uh the during the global financial crisis they only allowed it to come down and barely touch fair value and then they papered over that financial crisis and drove it into another hyper bubble and so now we've got the almost everything bubble but this Distortion is all caused by papering over everything and those things eventually break and so you will

there there's going to be a wealth transfer and you will participate everybody that has done well everybody around the globe will participate to one extent or another