Hi, I'm Buck, your personal tour guide to the Federal Reserve. I'm here to introduce you to one of the most complex but effective

institutions in the United States. But don't worry, I'll explain it all in plain English.

Just beside me is a roadmap of where we're going. Together we'll walk

through the Federal Reserve System, literally, and along the way I'll show you just

what goes on around here and why it's important. By the end of this tour you

two will be able to explain the Federal Reserve in plain English.

There is no other agency of government which can overrule actions that we take.

There is no other agency of government which can overrule actions that we take.

There is no other agency of government which can overrule actions that we take.

That would effectively be a takeover of monetary policy by the Congress,

a repudiation of the independence of the Federal Reserve,

which would be highly disruptive to the stability of the financial system, the dollar, and our national economic situation.

We don't, the Federal Reserve does not own any gold at all. We have not owned gold since 1934. And the fact and the fact, and the fact, and the fact,

and the faith, and the faith, You're going to. All our lives we've been told that economics is boring. It's dull. It's not worth the time it takes to understand it.

And all our lives, we've been lied to. More poverty,

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More poverty, revolution. More, poverty, revolution. They all hinge on economics, and economics all rests on one key concept.

Money. Money.

It is the economic water in which we live our lives.

We even call it currency.

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