Empire, Power & People with Andrew Gavin Marshall- Episode 101

Central Banks, Foreign Reserves & the Role of the U.S. Dollar

EPPThere has been a great deal of commentary about the seemingly inevitable decline of the US dollar, and its replacement as the international reserve currency. This may be inevitable, in the sense that all through history, no single currency has remained as the central currency for the world, so why would the US be the exception - in a state of permanence? Things change. But don't expect this to change too quickly. The US dollar isn't going anywhere for the near to medium term future: this episode explains why by examining the history of the US dollar as an international reserve currency, the role of central banks and financial markets, and what this means for geopolitics and global economic order.

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  1. AG, you are dealing with a challenging topic. As a former teacher and one who understands somewhat the workings of the Fed Res. System, I hope you don’t mind a couple of suggestions. Before I make them however, I’d like to point out that I did not know that most central banks in the world are “nationalized.” The reason for the quotes is that central banks remain opaque, complex systems–because the money controllers like it to be incomprehensible to the general masses. Most politicians do not have a clue as to how the fed really operates and why a small group of men met on Jeckyll Is. in 1910, basically to run the richest country in the world from behind the scenes.
    A very important point I need to make: it is practically impossible for any one to explain only in words how the entire banking system works. You desperately need to come up with a blackboard segment. One needs to draw lines connecting boxes and arrows etc., etc.
    My suggestion would be to concentrate solely on the Fed for one segment using visual aids. Viewers need to understand the hierarchy of the non-transparent complicated octopus. Viewers need to know a seemingly simple thing: How does the money in my pocket or checking account in a local bank have anything to do with the Fed? So here comes the layered flow of the Fed creating $$ from nothing–Fiat $$, simply by “printing it”(actually nothing really printed on paper); dealing directly with the Department of Treasury(Exec. Branch),buying our own treasury noted, etc., directing each of its 12 member banks throughout the country; then comes the “maneuver” whereby money winds up in one’s local bank. Now for the good part: banks via” fractional reserves” lend Joe Sixpack 200,000$ based upon actual bank reserves of 20,000$! Presto! 180,000$ from thin air paid back by an unknowing soul with additional interest on top of 180,000 fake $.
    Allright, enough by me, But I think you need to let your viewers realize how the sinister, private quasi-legal system–the Fed–controls our money. Then , of course there is the thorny problem of all $ as debt. You have a large task , but can handle it easily, IMO.

    • AVG, you said you were tired of not understanding some of these financial issues. I am facing the same problem. What did you read to help you overcome this other than the financial press? Unless you actually work in this corrupt sector for a long time, I’m afraid this knowledge will be forever unavailable or unclear. This episode was really helpful, however.

      From a more philosophical view, I have read a lot of anti-usury blogs, and I believe this to be the source of much misery in the world. As ron touches upon in the comment above, rapacious usury seems to be their means of control over the most of the world.

    • greybeard616@yahoo.com says:

      Better yet, a “Monopoly” type board game so people can “participate” as winners since the vast majority of us only know the “game” as victims of the victimizers.

  2. Bradley Fuller says:

    I understand that Mr Marshall is speaking off the cuff on various economic topics here in very broad strokes but his concept of inflation and organized labor is dead wrong. I was there when inflationary forces were happening. Wages were chasing prices and the working class found it no easier to organize or achieve wage increases. Strikes were common and lasted usually until the negoiated increase was paid for by the strike. The difference between then and now were then the rights of the worker were recognized as integral in general within society and as important to society’s proper functioning Other bones of contention Marshall leaves untouched are that nationalized banks are all under the control of the international banking cartel through various financial services contract language within international trade agreements. Marshall states too much is seen in terms of black and white, while he fumbles about in the grey zone of complicity of the greatest of evil producing systems ever to plague mankind. I didn’t learn anything new here other than what complicity sounds like.

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