MASSIE: Yeah, I'm glad you asked me that, Professor Raskin. Because they did the same thing in Europe. They did this everywhere. They printed their own equivalence of the Federal Reserve and Treasuries and created their own money out of thin air. It may be the only thing that saved our dollar is that everybody else did the same thing to their currency. The question is . . . right now we're coming up on the debt limit. Why isn't anybody proposing to print more money? Why aren't the economists proposing to print more money? Because it is poison. When you print money it is poison to our economy. It is . . .
4:18 The Fed doesn't care about Bitcoin. The Fed likes Bitcoin, I think. But the Fed was waiting, and this is something I want to talk about the next time I have Caitlin Long [who makes some interesting comments on Bitcoin below] on my podcast because she's asked me this question a couple of times, and now I can finally answer it for her now that we've seen how the Bitcoin ETFs have worked out. The Fed wasn't ready for her Custodia Bank and stuff like that that she's doing. They weren't ready for that because they didn't have the rest of the infrastructure in place to allow for that to happen. She was way ahead of the curve, and rightly so she was way ahead of the curve but providing a market service that we need just not right then. Now that we have the structure in place, it's all going to be fine.
IUORIO, 4:55 So in a short answer, do you think we're past the point of no return for the governments to crack down and eliminate Bitcoin and all that bs?
Tom says that the threats to Bitcoin are not only done, but they were never serious, citing SHA-256.
LUONGO, 5:05 I never believed that in the first place because I never believed the DoD had the keys to SHA-256. If they did, then we have a bigger problem than f*** Bitcoin. The entire internet runs on SHA-256.
Luongo mentioned Tether, a market crypto currency that I'd never heard of. What caught my ear was this,
What liquefies the Bitcoin trade? What do we trade Bitcoin against? Nobody trades against the dollars. We trade against Tether. What is Tether? It's a $100 billion U.S. Treasury slush fund and it keeps rising in value. As Tether . . . Tether makes perfect sense to me now that Leticia James gave it the slap on the wrist and I think the Fed controls Tether. I think the Fed controls Tether. I think the Fed executed all the other stablecoins in order to have control over the Bitcoin trade in that respect and know that Tether is audited; they own a little bit of Bitcoin; they own a little bit of gold; they own about 85% in short-term treasuries.
1:30 Robert and I moved forward, I guess instigated, a FOIA request, a campaign where I put up about $65,000 and then we did a Go-Fund-Me thing for the other $35,000 to come up with a FOIA request against the FED because we wanted to push back against the auditing that they're doing, but more specifically them completely ignoring the Federal Reserve Act in 2020. So the way this work is that you've got to do the FOIA request first and if they tell you to pound sand long enough, then you've got to give them a deadline, you have to go ahead and sue them. We were hoping we wouldn't have to come to the lawsuit part of it, we'd go ahead and do the request, we dot the i's, cross the t's. It's incredibly expensive to hire an accountant to do that. But we were hoping they'd say, "Okay, that's fine. Here's what you requested," but I guess that's not the path they've taken.
2:36 We started out with some basic requests, then we expanded it to a lot of detailed requests across the entire history of the Federal Reserve, so we wanted internal documentation on how they interpreted their own legal authority. [Whoa] How have they interpreted any limitations or restrictions or restraints on their legal authority. How have they interpreted their authority to the income tax and various revenue acts that have passed. The things we know that they have done some internal review on, we asked for everything that could possibly relate to that categorically. So not just to specific items in 2020 and in past years where they took actions that appear to be outside the Federal Reserve Act but also everything they have internally talked and discussed about their own power or the limits on their own power and how it correlates with the income tax, and, of course, given that the Federal Reserve came in at the same time as the income tax, 1913. And I've seen some documentation concerning other banks talking about what the Fed was talking about all the way back to 1915 in the New York Public Library. So we incorporated all of that, . . .
3:48 Hired a forensic accountant who is also a former bank auditor to say that we really want to audit the Fed, what should we ask for, so he came up with very specific requests as if he were auditing the Federal Reserve and we combined the two, submitted it, they gave us the run-around, the run-around, the run-around, and finally they said, "We have no idea what you're talking about. We don't have indexed files here. We don't even know how to search our own files here at the Federal Reserve. If you could tell us exactly which day we actually did that analysis, then we can search for it. But if you don't have the exact day and the exact time . . . ," the Fed has got away with this
4:31 This is the game they play. Explain that, Robert, because to the laymen, they may say, "Well, that's a legitimate claim, but no, no, this is just a game to draw this out as long as possible to make sure you're spending as much money and they're just hoping that you drag it on long enough to where you just forget about it or you run out of cash.
4:51 It's apparent that no one has ever asked for this before. No one ever tried to FOIA the Fed until after the 2008 global financial crisis and then some media institutions, including Bloomberg did, but they requested very specific information they already knew about in advance . . .
I'm going to stop talking about the Euro Dollars, the Euro dollar market,
I said to you the pound dropped over 3% yesterday, and you said, "Holy shit! Look at the Euro dollars market!" So let's just talk a little bit about that, because I don't think that people realize, or that they don't dig into, is all of this superficial stuff that the mainstream media presents
the euro dollars are all of the off shore dollars outside the United States, and what has been happening is that Europe has been controlling the interest on the U.S. dollar because they've got all of these dollars outside the United States through LIBOR. We've got the Federal Reserve raising rates. They've got their own system, SOFR, the Secured Overnight Financing Rate, and what they're actually doing is out to regain sovereignty and control over the dollar.
