The Greatest Propaganda Coup in History Just Ran Out of Buyers

By far the most secret and least accountable operation of the federal government is not as one might expect the CIA, DIA or some other super secret intelligence agency. Can you guess what operation it is that I'm talking about? The Federal Reserve System is accountable to no one. It has no budget. It is subject to no audit and no congressional committee knows of or can truly supervise its operations. Therefore if you think about the Federal Reserve which is virtually in control of the United States entire monetary system and therefore the global reserve currency, it is the most powerful organization institution in the world. And yet the Federal Reserve System is accountable to nobody and this strange situation, if acknowledged at all, is invariably trumpeted as a virtue. What I just read to you was not written recently. It was not even written in this century. This is from The Case Against the Fed by Murray Rothbard written in 1993 and I would argue is just as relevant if not more today than when it was written. I love this book and one of the reasons I wanted to talk about it again today is because as the world has gotten bigger and more interconnected, somehow our own worlds seem to be getting smaller. Our attention span is getting shorter and we as a society have a tendency to focus on the immediate rather than the big picture. Just this week, 30-year U.S. Treasury bond yields hit the highest level since 2007. Right before Lehman Brothers collapsed, the derivative crisis blew up and the entire financial system almost came crashing down. Now most people out there walking around are going to shrug this off. They might not even know it's happening at all nor do they care because they don't think it impacts them. But if you're watching this video right now, I have a sense that you know that things are not right and that they're going to get a whole lot worse. So today we're not going to talk about the new Fed chair. We're not going to talk about the odds of a rate raise or rate cut. Instead, we are going to pull back the curtain on an institution that has proven that the situation we're in today is not an accident. And in order to do that, we're going to start with something so simple it might sound stupid, but it's a statement that money is a true store of value. And before you say, of course, I know that, I understand that, let's take a look at this. Now this right here, this is a Federal Reserve note. It says so right at the top. It also says on here, this note is legal tender for all debts, public and private. The Federal Reserve has tried to fool us and trick us into thinking that this is money, but it's not. It is a piece of paper. It's only value is perceived because we as a society have given it value. It has no inherent value. Real money has a true store of value. It has intrinsic value. That is the difference between money and currency. But if we take the Federal Reserve at their word, and let's just say for the sake of their argument, we call this money. Rothbard says, if the chronic inflation undergone by Americans and in almost every other country is caused by the continuing creation of new money, and if in every country, its governmental central bank in the United States, the Federal Reserve, is the sole monopoly source and creator of all money, who then is responsible for the plight of inflation? It seems like a simple question with a simple answer. If the Federal Reserve is creating the money, then the Federal Reserve is creating inflation. So why then is it, tell me this, why then is it as a society that we are constantly being told that the only institution, the only possible hope we have of fighting inflation is through the Federal Reserve, that somehow the institution that is responsible for the disease that's impacting all of our wallets is the only one that has the answer? Rothbard calls it a shell game and likens it to the greatest drum fire propaganda coup in history. He even has a great analogy here, where he talks about the old ploy of a robber running down the street with his stolen goods, shouting, stop thief, stop thief, when they of course are the robber themselves. That is the Federal Reserve. The truth is that right now, the United States is sitting on $39 trillion of debt. And every percentage point increase on the interest is going to add another $400 billion in interest payments. That's just the cost of servicing our debt. It's more than we spend on our entire defense budget, not going to infrastructure, not going to actual growth, just going to the debt alone. But it doesn't stop there. Inflation is continuing to rise. We have oil, still $100 a barrel plus, as the war in Iran continues on, adding more pressure. And investors no longer want U.S. Treasury bonds. The yields don't make up for the risk. And as investors move away from U.S. Treasury bonds, what happens? The United States is forced to offer higher yields, higher interest on that debt. And the less that investors want it, the more the United States has to pay. This is what creates a downward spiral, a debt doom loop, as I like to call it. But this is where it gets even more infuriating, because this book outlines a lot of hypocrisy. But let me tell you what's really been going on. Since December of 2025, the Federal Reserve has purchased U.S. Treasury bonds to the tune of almost a quarter trillion dollars. So riddle me this. How is it that the very institution, the sole, the one and only institution that can possibly protect us and save us from inflation, with one hand, is on the other hand out there buying U.S. bonds, which will ultimately create more inflation? This is the shell game. And as Rothbard goes on to say, he says, we begin to see why it's always been so important for the Fed and for other central banks to invest themselves with an aura of solemnity and mystery. Or, as we shall see more fully, if the public knew, if the public knew what was really going on, it would be able to rip open the curtain, hovering the inscrutable Wizard of Oz, and it would soon discover that the Fed, far from being the indispensable solution to the problem of inflation, is itself the heart and cause of the problem. That gets me every single time. And in fact, he even has one more sentence here that I'm going to read. He says, what we need is not a totally independent, all powerful Fed. What we need is no Fed at all. Chills. Again, written 30 plus years ago and just as relevant today. And before someone out there says, well, we have to have the Federal Reserve, that's part of the propaganda machine. Instead of having a committee of unelected officials controlling not only the global reserve currency, our entire monetary system, and therefore your and my money, our currency, right? But the wealth that we have in the form of the Federal Reserve notes, therefore anything that's dollar denominated. What if instead we let the free market decide? If the rate of borrowing was set by supply and demand, just like everything else, just like how they did it before central banks existed. Oh, but there's a problem with this, because it would therefore require real money. It would require a true store of value, essentially handcuffs for an institution that right now can do whatever it wants. Think about a world with real money though. Think about if we were back on some kind of a gold standard or we couldn't just create more units of currency out of thin air. Some will say that it's far-fetched, but it would mean that banks would operate with real risk appetite. It would mean that they wouldn't be able to gamble with all of our funds and create these massive derivative bets based on nothing, all for the sake of their profit at our risk. It would mean that ultimately if you worked and you saved, your savings would truly be worth something in the future. Now again, this might not sound like the perfect system to some. I'm sure there are gripes out there, but the system we have today, the Federal Reserve system, is operating as intended. That's what I want people to understand. Inflation is not an accident. It is the policy, and they are doing a darn good job of making sure that they use it to take the wealth from the masses to the few. That's what inflation does. It's a silent tax that you didn't vote for and I didn't vote for on our wealth. And wealth doesn't disappear. It merely changes hands, meaning it goes to the closest to the counterfeiting, those at the very top, while the many are the ones who lose their wealth little by little or recently a lot by lot, year over year, month by month, day by day. Now I'm not here to tell you that we're going back to a gold standard, but what I am here to tell you is that the system that they created, that they have been using to control the American people, is breaking. The bond yields show it. The debt shows it. All of the signs are there. But when it breaks, it doesn't suddenly mean liberation for the people, unfortunately. What it means is that those who are holding their wealth within the system with dollar-denominated assets, whether that's the stock market or bonds or cash savings, whatever it might be, those are going to be the people who are hurt the most. Now there is opportunity, however, for those who are holding something that has a real store of value. There is light at the end of the tunnel, a way to protect your wealth, and not only protect your wealth against devaluation, but as the dollar continues to decline, what we see throughout history in currency resets and currency life cycles is that as we reach the end, as we reach that reset point, gold will go up significantly compared to the failing fiat currency. That's where we are today. Now if you personally have the majority of your wealth inside of the system and you want a strategy for what is coming next with their plan, you can call us at the number below. Talk to us. If you have questions, we have answers. That's what our team is here for. We at ITM Trading, we are a full service, physical, physical only, physical only, gold and silver dealer. But we are so much more than that. In every video I do, in every video Daniela does, we are here to help educate and help you create a custom plan for what is coming next. So if you already have gold and silver, want a second opinion, or if you don't and you want to learn more, again call us at the number below. You can click the link down below in the description and set up a time that works best for you, or you can scan the QR code. And if you want to learn more about currency resets throughout history, because that's what we do here, that's what we study, you can always download our Built to Endure report. It has a ton of information about the last 100 years in currency resets, how different assets perform. And in the meantime, thank you so much for being here. I'm Taylor Kenney with ITM Trading, your trusted source for all things gold, silver, and lifelong wealth protection. Until next time.