SPEAKER_02

You know, the Federal Reserve was created in 1913 or the Federal Reserve Act was signed into law by Woodrow Wilson in 1913.

And then in 1914, I think, is when it actually got up and running.

And in 1914 is when the income tax was passed, also signed into law by Woodrow Wilson.

And three years later is World War One.

You know, like three years or American entry into World War I. So it's like this is the banking system and the tax system are very like interrelated with the warfare state.

Like you need this stuff in order to fight wars.

And.

Even just over the last 25 years, we've spent close to $10 trillion on wars.

And they didn't tax the American people for that.

They know they couldn't tax us enough to pay.

We would put an end to it.

If they tried to raise everybody's taxes enough to come up with $10 trillion because we want to go fight regime change wars all over the Middle East, the American people would have been like, no, we're not doing that.

But they didn't do that.

They kept taxes where they were.

I think they even cut some rates during those years, the top rates.

And then they borrowed the rest.

And they still couldn't borrow enough.

So they just print the money.

And then essentially what happens is that the price of everything just goes up and up and up.

And you just put more money into the system.