in the history of the world. It's a secret

這個祕密對於每個住在這顆行星上的人衝擊甚巨

that has huge effects for everyone who lives on this planet.

大部份的人都能深深感到世界的經濟某個地方出錯了

Most people can feel deep down that something isn't quite right

但卻幾乎無人知道問題到底在哪

the world economy, but few know what it is

一個家庭只要靠一份薪水就能過活的日子 一去不復返了

Gone are the days where a family can survive on

一天又一天 事態似乎越來越難以掌握

just one paycheck, every day it seems things are more and more

然而只有萬中選一的那個人 才知道問題在哪裡

out of control, yet only one in a million understand why.

你將會發現

You are about to discover

目前的金融貨幣體系 最終要為今日世上大多數的不平等負責

the system that is ultimately responsible for most of the inequality in our

有權力的統治階級 "不"想要你知道這件事

world today. The powers that be do not

因為這就是讓這些人在過去的百年間

want you to know about this, as this system is what has kept them at the top of

處於金錢食物鏈頂端的體系

the financial food chain for the last 100 years.

得知這個真相將會改變你的生活 因為它將會改變你的選擇

Learning this will change your life because it will change the choices that you make.

如果足夠多的人能得知真相 那麼世界也將會改變...

If enough people learn it, it will change the world...

因為這將會改變這個系統

because it'll change the system.

因為這就是最大的"金錢祕密"

For this is the biggest Hidden Secret Of Money.

有史以來 從未有過只要如此少數的人就能掠奪如此多人的財富

Never in human history have so many been plundered by so

並且全透過以下的手段達成:

few,

"人類史上最大的騙局"

And it's all accomplished through this, The Biggest Scam

人們說金錢不是長在樹上

In the History of Mankind

但事實上

They say that money doesn't grow on trees

現代銀行業創造貨幣的速度 遠比樹木結果的速度快上許多

but the truth is that the modern banking system creates currency far faster than

大部份的人不清楚貨幣是如何創造的

trees can grow.

經濟學家和銀行家把整件事複雜化

Most people don't have a clue how currency is created

所以人們認為自己無法了解

economists and bankers make it sound so complex that people think they can't

但我將徹底解析現代的金融貨幣體系

understand it.

這樣你就能看到幕後的運作原理 以及它如何影響你的生活

But I'm going to strip our monetary system down to its

現代社會創造貨幣的方式都大同小異

essence so you can see the scam behind the curtain

但既然美元是世上主要的貨幣

and just how it affects you. Every modern society creates currency in pretty much

我將以美元當成例子

the same way

一切都從政治家的話開始:

but since the US dollar is the majority of the world's currency

"投票給我 我將保證政府

I'm going to use the United States as our example. It all starts when some

會提供比我對手更多的免費東西給各位"

politician says 'Vote for me and I'll make sure the government provides you more

但天底下沒有白吃的午餐

free stuff than my opponent will'

所以為了提供應該要是免費的東西

But there's no such thing as a free lunch - so to provide that supposedly free

政客會支持國家的支出比收入還多

stuff the politicians

這稱為"赤字消費"

vote for the country to spend more than its income. This is called deficit spending.

為了應付赤字消費

To pay for that deficit spending the Treasury borrows currency by issuing a

財政部透過發行"債券"來借到金錢

bond.

那債券是什麼?

So what's a bond? If you think about it a bond is really nothing but a glorified

如果你想一下就知道 其實債券只不過是美化過的"借據"

I.O.U. It's a pretty piece of paper with numbers printed on it that says

它是一張漂亮的紙條 上面印著數字和文字:

'Loan me a trillion dollars today and I promise over a 10-year period

"今天貸款給我一兆美元

I'm gonna pay you back that trillion dollars plus interest.'

我承諾十年之後會還給你並附帶利息"

But what you need to understand is that Treasury bonds

我承諾十年之後還給你並附帶利息"

are our national debt. These glorified I.O.U.s

但你需要了解的是

are to be paid back by you and I and our descendants through future taxation.

"國庫券"就是我們的國債

Therefore:

這些美化過的借據

When the government issues a bond it steals prosperity

將會透過你 我和後代子孫的未來稅收而清償

out as the future so that it can spend it today. The Treasury then holds a bond

因此當政府發行債券時

auction

事實上是從未來竊取繁榮的財富 這樣我們才能在今日揮霍

and the world's largest banks show up and compete to buy part of our national debt

然後財政部會拍賣債券

and make a profit on by earning interest. You'll notice that as we move through

而世界上最大的銀行

this process

爭相出現來購買我們國債的一部份

the big banks are there taking a cut every step of the way.

並透過賺取利息來得到利潤

This isn't by chance as you'll see shortly. Then,

當我們走過整個流程後你就會知道了

through a shell game called Open Market Operations the banks get to sell some of

大銀行在每一步上都能分一杯羹

those bonds to the Federal Reserve

你很快就會看到這並非偶然

at a profit. To pay for the bonds the Federal Reserve

然後透過所謂的"公開市場操作"這個騙局

opens up its big old checkbook and writes bad

銀行就能賣一些債券給美聯準並賺取利潤

bogus counterfeit checks that should bounce because they're drawn on an account that

為了支付債券 美聯準翻開了又大又舊的支票簿

always has a zero balance, there isn't one penny

並開出一張"本來應該要能"結算的"假"支票

in there. To quote from the Boston Federal Reserve: 'When you are I write a

但他們提錢兌現支票的帳戶根本沒有結餘

check there must be sufficient funds

一毛錢都沒有

in our account to cover that check, but when the Federal Reserve writes a check

在這裡引用波士頓聯邦準備的話:

there is no bank deposit on which that check is drawn.

"當你或我開出支票時 帳戶裡一定要有足夠的資金

When the Federal Reserve writes a check it is creating money."

以兌現該筆支票

The Fed then hands those checks to the banks and at this point currency

但當美聯準開支票時

springs into existence.

並沒有能兌現該筆支票的銀行帳戶存款

The banks then take that currency and buy more bonds at the next Treasury

當美聯準開出支票時 它就是正在創造金錢"

auction.

接著美聯準就把支票給銀行

But what is a check? A check is also an I.O.U.

就在這個時刻 貨幣就突然出現並存在了

When you write a check you're making a note that says "Here's my I.O.U. for

然後銀行就拿著這筆貨幣

cash,

購買更多財政部下一場拍賣的債券

all you have to do is go to the bank and pick it up." Now it's very very important

但"支票"又是什麼?

that you understand this process

支票也是一張借據

because we're going to come back later and show you the devastating effect this

但你開支票時 你就是在上面註記:

has on you.

"這是我的現金借據 你只要去銀行兌現即可"

The treasury issues I.O.U.s, (bonds).

了解這個過程非常 非常重要

The banks then buy those I.O.U.s with currency. The Federal Reserve

因為我們之後會再回過頭

then writes I.O.U.s (checks) and hands them to the banks in exchange for the

並說明這個過程對於你有何毀滅性的影響

Treasury's I.O.U.s

財政部發行借據 即債券

(the bonds). And currency is created. So what's really happening is the Federal

然後銀行用貨幣購買這些借據

Reserve and the Treasury

然後美聯準也開出借據 即支票

are just swapping I.O.U.s, using the banks as middlemen,

然後再把該支票給銀行 以交換財政部開出的債券

and abracadabra presto currency magically springs into existence.

在過程中 錢就被創造出來了

This process repeats and repeats over and over again

所以實際上發生的只是美聯準和財政部

enriching the banks and indebting the public by raising the national debt.

互換彼此的債券和支票

The end result is that there's a buildup of bonds at the Federal Reserve

並利用銀行這個中間人

and currency at the Treasury. This process is also where

然後一陣魔法般的劈哩叭啦 貨幣就神奇地出現了

all paper currency comes from. The Federal Reserve and the government

這個過程不斷重複實行 一次又一次

mistakenly call it 'Base Money'

這讓銀行富裕了 卻讓大眾因國債總額上升而負債

because they didn't watch Episode 1 of this series, and they don't know the

最終結果是在美聯準那一方有一堆債券

difference between money

然後財政部有了一堆貨幣

and currency. But I will correctly refer to it as 'Base Currency' because

這個過程也是所有紙幣的來源

it is not money...

美聯準和政府誤稱這種紙幣為基礎"貨幣"(money)

it is CURRENCY, and as we've learned there is a big difference:

因為他們沒有看這一系列影片的第一集

Money has to be a store of value and maintain its purchasing power over

他們不了解"金錢"(money)和"貨幣"(currency)之間的差異

long periods of time.

但我會正確地稱其為基礎"貨幣"(currency)

We learned in Episode 1 that earlier in our history our paper currency was

因為"貨幣"(currency)並非"金錢"(money)

just a claim check.

這是"貨幣" 而且如我們學到的 貨幣和金錢有巨大的差異

It was a representation for real money of intrinsic value,

"金錢"必須能儲存價值

the gold and silver that was held on deposit at the Treasury.

並長時間維持其購買力

You could walk into any bank and slap your currency, like say a twenty dollar

我們於第一集學到 在早期的歷史

bill

我們的紙幣只是一張提領證明

on the counter, and redeem it for real moneyÉa twenty dollar gold piece.

它代表了真正的"金錢"和其內在價值

But now this base currency that's piling up back here

即儲存在財政部裡面的黃金和白銀

is really nothing but a receipt or a claim check on an I.O.U.

你可以走進任何一家銀行裡

(that bond), so it's really nothing but a supply of numbers.

把你的貨幣甩在櫃台上 例如20美元

The Treasury then deposits the newly created currency in the various branches

然後贖回"真正的"金錢 即價值20美元的金塊

of the government,

但現在我背後不斷堆積的基礎"貨幣"

and the politicians say "Hey thanks for that!",

只不過是一張收據而已

and the government does some deficit spending on public works,

或是一張兌換"借據(即債券)"的提領證明而已

social programs, and war.

所以這一切真的只不過是一堆數字的供應

The government employees, contractors and soldiers then deposit their pay in the

財政部接著就把這些新造出來的貨幣

banks.

存放在政府的各個部門裡面

Now this may come as a shock to you, but when you deposit your currency with the bank

然後政客會說:"嘿 多謝了"

you're not

然後政府會把一些赤字消費的金錢用在公共事務

actually depositing it into an account to be safely held in trust for you.

社會福利計畫 以及戰爭方面

Instead, you're actually loaning the bank your currency,

公務員 承包商和士兵 接著就把自己的薪水存在銀行裡

and within certain legal limits they can do with it pretty much anything they please.

現在這一點可能使你震驚

This includes gambling in the stock market, and loaning it out...

即當你把貨幣存在銀行時

at a profit of course.

你並非真正把錢存在一個能使你安全信任的帳戶裡

Now this is where the machine of currency creation really gets cranking,

相反地 你實際上是把你的貨幣借貸給銀行

because this is where something called 'Fractional Reserve Lending' comes into

而在特定的合法限制下 銀行可以隨心所欲使用你的錢

play.

這包括了在股市投機賭博

Fractional Reserve Lending is exactly what it says. The banks are allowed

當然還有把錢借貸出去以賺取利潤

to reserve only a fraction of your deposit and loan the rest out.

接著這裡就是貨幣創造機制的重點

Although reserve ratios may vary, I'm going to use a 10 percent reserve ratio

因為這就輪到"部份準備"的借貸機制發揮作用了

as our example.

"部份準備"借貸正如同字面上的意義

If you deposit $100 dollars in your account, the bank can legally take ninety

銀行只被允許保留你的一部份存款

dollars of it and loan it out without telling you.

並把剩下的再借貸出去

The bank must hold ten dollars of your deposit in reserve

雖然部份準備的比率各地不同

just in case you want some of it. These reserves are called 'Vault Cash'.

但我在此會使用10%作為例子

But why does your bank account still say you have one hundred dollars if the bank

如果你在戶頭裡存100元

has stolen ninety dollars of it?

銀行可以合法貸出90元給別人 而且不用告訴你

Because the bank left I.O.U.s it created called 'bank credit'

而銀行一定要保留你原本存款中的10元 作為準備金

in its place. Now I know this sounds crazy,

以免你想要提錢出來用時 這些準備金(10元)稱為"庫存現金"

but here it is in black and white from the Fed: "Commercial banks create

但儘管銀行已把你的90元偷走了

checkbook money

為何你的帳戶顯示 你仍有100元?

when they grant a loan simply by adding new deposit dollars in accounts

因為銀行保留了其所創造的借據

on their books in exchange for a borrower's I.O.U."

稱為"銀行信用"

These are nothing but numbers that the banks type into their computers,

我知道這聽起來瘋狂

and even though these bank credit I.O.U. numbers

但美聯準在這裡白紙黑字寫得清清楚楚:

are very different from base currency numbers (because they only exist in

"商業銀行創造出支票貨幣 當它們批准一筆貸款時

computers),

只要在本子上增加新的存款帳戶金額即可

they are still currency. So now there is one hundred ninety dollars in existence.

藉此交換取得借款人的借據"

Now the reason people take out loans from the banks is to buy something.

這些都只不過是銀行輸入至電腦裡的數字而已

They're going to buy a house or a car or something like that.

即使這些銀行把借據上的金額 再借貸出去

So the borrower takes the ninety dollars that the bank loaned to him from your account,

但仍然與原本基礎貨幣的數量非常不同

and he pays the seller of item. But then the seller deposits that currency

(因為它們只存在於電腦中)

into his account,

它們仍然是貨幣 所以現在有190元出現了

and his bank loans out ninety percent of that,

接著有一個人為了買東西而從銀行借錢

and leaves bank credit numbers in its place. So now there's two hundred and

他可能會買房子 汽車等等之類的東西

seventy-one dollars in existence.

所以那位貸款人 從你銀行的帳戶借貸了90元

This process repeats and repeats until under a 10 percent reserve ratio

然後拿這90元去支付賣方 買到東西

an initial deposit of just one hundred dollars can create up to one thousand

但這位賣方又把這90元的收入存至他的帳戶

dollars of bank credit

然後賣方的銀行又貸出90元的90%

all backed by one hundred dollars of vault cash,

即再額外貸出了81元(原本90元的90%)

just 10 percent. But as I said reserve ratios vary wildly...

所以現在流通中的貨幣總額變成了271元(190+81)

on some deposits it's 10 percent on others

這個過程不斷重複

its 3 percent and on some forms of deposits reserve requirements

並以10%的準備比率為根據

are zero! The result is that the expansion the currency supply by the banks is

這樣原本只是100元存款的本金

far greater than even this example would lead you to believe.

最後可以創造出高達1000元的銀行貸款額度

So once again, when currency is deposited in the banks,

全部都只由一開始100元的庫存現金 以及10%的準備率所支撐

the banks get to lend it out and then it gets we redeposited and relent,

但如我所述 部份準備金的比率變化極大

redeposited and relent, redeposited and relent

對某些存款而言是10%

over and over again creating bank credit all the way.

其它存款可能是3%

This is where the vast majority of our currency supply comes from.

甚至有些存款是0%!

In fact 92 to 96 percent of

結果是由銀行造成的貨幣供應擴張

all currency in existence is created not by the government,

其金額甚至遠遠超過這個例子能夠想像的

but here in the banking system. Now,

再複習一次

massive amounts of currency spewing into society may at first sound like a fun

當貨幣存在銀行時

idea...

銀行會把這筆錢借貸出去

that is until you remember one of the most important Hidden Secrets Of Money

然後這筆被貸出的錢 重新再被存入及貸出

from Episode 1:

重新存入 重新貸出

That the prices of everyday goods and services act as a sponge

不斷重新存入 重新貸出

on an expanding currency supply. The more currency we have

一路上無限創造出銀行貸款

the more prices rise.

這就是我們大部份的貨幣供應來源

This is where inflation comes from. The true definition of inflation

事實上 92%~96%的現存貨幣

is an expansion of the currency supply, rising prices

並非由政府創造

are merely the symptom.

而是由銀行業創造

So our entire currency supply is nothing but a couple bucks whipped up in this

大量的金錢注入社會 乍看之下可能很有趣...

hocus-pocus scam

直到你記得從第一集學到的最重要祕密之一

where the Treasury and the Federal Reserve swap glorified I.O.U.s

即日常用品和服務的價格

and a bunch of numbers that the banks just type into their computers.

根據貨幣擴張的供應數量 會像海綿一樣膨脹

That's itÉthat's our entire currency supply. It's nothing but a supply of

我們有越多的貨幣 物價就越高

numbers.

這就是通貨膨脹的原因

Some of them printed, most of them typed,

通貨膨脹的真正定義在於貨幣供應的擴張

and there is nothing else. But if you thought that was crazy,

物價上漲只是副作用

get ready to enter the twilight zone ofmodern economics. We work for some of that

所以我們整個貨幣供應 只不過是原本的幾毛錢

currency supply.

透過這種詭計把戲激發擴大

True wealth is your time, but we trade away moments in our lives

其中財政部和美聯準互換美化過的借據罷了

hour by hour, day by day, and year by year

然後銀行再把這一串數字打入電腦裡而已

for numbers that somebody printed on pieces of paper or just typed into a

就是這樣! 這就是我們貨幣供應的真相!

computer.

全部都只是一串數字的供應而已!

Now those numbers represent our blood, sweat, tears, labor,

有一些確實用印的 但大部份用電腦打字

ideas and talent. We are what gives the currency its value.

除此之外就沒了

But here comes the really cruel joke...we work hard,

但如果你覺得這已經夠瘋狂了

so that we can save some of that currency, so that we can pay the tax collector

那再進一步準備看看 現代經濟學的詭妙之處吧

(in the United States it's known as the IRS), they then turn it over to the Treasury,

我們為了取得一些貨幣而努力工作

so that the Treasury can pay the principal plus interest

但真正的財富是你的時間

on that bond that the Federal Reserve bought with a check drawn

但我們經年累月出賣了我們的生命時光

on an account that has nothing in it.

只為了某人在紙上印出來 或輸入至電腦裡的數字

Now let's do a recap on this section because this is where the

那些數字代表了我們的心血

system begins to rob you and I

汗水 眼淚 勞動 想法和才智

on a massive scale. Much of our taxes are not used for schools, roads and public

我們才是賦予貨幣價值的人

services,

但殘酷的玩笑就在這裡

but to pay interest on bonds that the Federal Reserve

我們努力工作 這樣才能存一點錢

bought with a check drawn on an account that has nothing

這樣才能繳稅給負責稅務的人員

in it. The Federal Reserve is committing FRAUD.

即"美國國家稅務局"

But here's one of the biggest secrets of them all:

然後他們把稅收交給財政部

Before the establishment at the Federal Reserve there was no need for personal