How to have infinite money (in less than 10 minutes)

Summary

In this video, Brandon explores the concept of 'infinite money' by challenging the common understanding of what money is. He delves into the legal definitions found in the Constitution and Black's Law Dictionary, explaining that money is traditionally gold and silver, not paper currency. He then discusses the nature of Federal Reserve Notes as negotiable instruments, not actual money, and explains how banks use these instruments, along with the process of endorsements, to create money from loans. Brandon suggests a method of signing negotiable instruments 'without recourse' to potentially obtain money without interest, urging viewers to learn more on his website.

Takeaways

• 📜 The speaker, Brandon, asserts that money is not merely physical currency but has a more complex legal definition.
• 🏛 Article 1, Section 10 of the Constitution specifies that only gold and silver coins are to be considered as tender for debts, implying that other forms of currency are not money in the legal sense.
• 📚 Black's Law Dictionary defines money as gold, silver, or paper money used as a circulating medium of exchange, excluding notes, bonds, or evidences of debt.
• 💼 Federal Reserve Notes are classified as negotiable instruments rather than money, which means they are transferable documents or contracts.
• 📑 UCC Article 3, Section 104 discusses negotiable instruments, which are central to understanding the money supply and are distinct from money.
• 💡 The concept of negotiable instruments is broken down into two types: unconditional promises to pay (promissory notes) and unconditional orders to pay (bills of exchange).
• 🏦 Banks do not lend out existing deposits but create new money through the issuance of negotiable instruments, as per the Federal Reserve Act, Section 16.
• ✍️ The way individuals sign negotiable instruments, such as loans or mortgages, is crucial, as it determines the nature of the transaction and the ownership of the security.
• 🔏 A blank endorsement on a negotiable instrument makes it payable to the bearer, effectively gifting the value to the financial institution, which can then claim it at the Federal Reserve.
• 🛡️ By using a special endorsement with the phrase 'without recourse,' individuals can retain control over the negotiable instrument and direct its value back to their account, potentially eliminating debt.

Q & A

What does the speaker claim about the common understanding of money?

The speaker claims that most people mistakenly believe money is the physical currency in their pockets, but according to the script, it's more than that—it involves a deeper understanding of financial instruments and laws.

What is the significance of Article 1, Section 10 of the Constitution in the context of this script?

The speaker refers to Article 1, Section 10 of the Constitution to emphasize that only gold and silver coins are to be made as tender in payment of debts, suggesting that other forms of money are not constitutionally recognized as such.

What does the speaker mean by 'negotiable instruments'?

Negotiable instruments, as explained in the script, are documents or contracts that are transferable and can be used as a medium of exchange, such as bills of exchange and promissory notes, which are not the same as money itself.

How does the speaker define 'money' according to Black's Law Dictionary?

According to the speaker, Black's Law Dictionary defines money as gold, silver, or paper money used as a circulating medium of exchange, excluding notes, bonds, evidences of debt, or other personal or real estate.

What is the role of the Federal Reserve Note as described in the script?

The Federal Reserve Note is described as a negotiable instrument, not actual money, and it is used as a security or a promise to pay that can be transferred to others.

What does the speaker suggest about the process of getting a loan from a bank?

The speaker suggests that when you get a loan, the bank is not giving you someone else's money but is instead creating a negotiable instrument through the application process, which involves your signature as collateral.

What is the importance of the signature in creating a negotiable instrument?

The signature is crucial as it turns the document into a negotiable instrument, which can then be used as collateral to obtain Federal Reserve notes, thus creating a form of money.

What is the difference between a 'blank endorsement' and a 'special endorsement'?

A blank endorsement makes a negotiable instrument payable to bearer, meaning anyone who holds it, while a special endorsement specifies the payee, indicating who the instrument should be paid to.

What does 'without recourse' mean in the context of financial instruments?

'Without recourse' means that the subsequent holder of a financial instrument cannot hold the endorser liable for any issues that may arise with the instrument.

How does the speaker suggest one can use negotiable instruments to their advantage?

The speaker suggests that by using a special endorsement 'without recourse' and directing the proceeds to oneself, one can potentially use the instrument to obtain funds from the Federal Reserve and zero out their account.

What is the speaker's view on the general understanding and use of negotiable instruments?

The speaker believes that most people unknowingly give away their negotiable instruments as gifts to financial institutions through blank endorsements, which the institutions then use to obtain money.