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US Fed kingpin of entire banking system, covering central banks when they screw up – Keiser Report

US Fed kingpin of entire banking system, covering central banks when they screw up – Keiser Report
The US Federal Reserve was created with the idea of ultimately being there for any instance of financial crisis in the banking system, says journalist and former banker at Lehman Brothers Nomi Prins.

She joined RT’s Keiser Report for the Summer Solutions 2019 episode.

“When the Federal Reserve was created we still had the gold standard… when we got to 1971 the gold standard was completely repealed… it was because what the bankers wanted… they pushed to get off the gold standard, so there would be no more solid real asset benchmark underneath currency,” Prins says. That was the idea of having more fiat money and the dollar ultimately becoming even more dominant, she explains.

“The US Fed is basically the CEO of the banking system, it provides the money, regulates the banks, and the banks are members of that institution,” says Prins, author of ‘Collusion: How Central Bankers Rigged the World.’

She stresses: “You cannot have the financial system be members of a central bank that provides them cover when they screw up. That entire system has to be demolished.”

For more stories on economy & finance visit RT's business section

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