‘It’s a Wonderful Lie’: 9-minute ‘It’s a Wonderful Life’ analysis of Federal Reserve fraud to call debt-creation as ‘money supply;’ with OBVIOUS solutions worth $1,000,000 per average US household whenever ‘We the People’ are willing to look, learn, speak-up

hat tip: What Really Happened

David Knight of InfoWars’ sharp nine minutes:

It’s a Wonderful Life is a seasonal classic reminding We the People of our ongoing engagement with a .01% class using the public as work animals (“cattle” in the story). The story’s protagonist, George Bailey, embraces spiritual insight to continue literal “good Faith” effort for his community to not become slum-renters to parasitic antagonist, Henry Potter.

The following data easily prove that “work animals” for a .01% parasitic class neither overstates nor understates the following data, with ~$1,000,000 in benefits for the average US household with reforms easily demonstrated for anyone with the intellectual integrity and moral courage to look.

Synchronicity note: the house used in the film to demonstrate the powerful benefits of affordable home ownership opposed to slum rentership is three houses behind where my family used to live. Just one benefit of reforms is if states had their own bank, a 5% mortgage and 5% credit card would abundantly pay for all state taxes. With this one data point, wouldn’t a prudent citizen conclude “a wonderful lie” is a correct title for .01% interests to NOT inform us of this option, as well as terms like parasite, work animal, and that this .01% class are literal asset-holes?

For a “holiday present” more valuable than any other for all our communities, please apply your attention to the following objective and independently verifiable facts.

Data, discussion:

The top three benefits each of monetary reform and public banking total ~$1,000,000 for the average American household, and would be received nearly instantly. Fed Chair Janet Yellen publicly acknowledges monetary reform as described below, but continues a history of criminal fraud in her lawful fiduciary responsibility to truthfully provide what you’re about to read. The data below include evidence of a .01% oligarchy criminally looting tens of trillions of our dollars.

Monetary reform is the creation of debt-free money by government for the direct payment of public goods and services. Creating money as a positive number is an obvious move from our existing Robber Baron-era system of only creating debt owed to privately-owned banks (a negative number) as what we use for money. Our Orwellian “non-monetary supply” of adding negative numbers forever causes today’s tragic-comic increasing and unpayable total debt. You learned these mechanics of positive and negative numbers in middle school, and already have the education and life experience to conclude with Emperor’s New Clothes absolute certainty that accelerating total debt is the opposite of having money. As a National Board Certified and Advanced Placement Macroeconomics teacher, I affirm this is also exactly what is taught to all economics students.

The public benefits of reversing this creature of Robber Barons are game-changing and near-instant. We the People must demand these, as .01% oligarchs have no safe way to do so without admission of literal criminal fraud by claiming that debt is its opposite of money.

The top 3 game-changing benefits of monetary reform:

  1. We pay the national debt in proportion to removing private banks’ ability to create what we use for money as debt in order to prevent inflation. We retire national debt forever.
  2. We fully fund infrastructure that returns more economic output than investment cost for triple upgrades: the best infrastructure we can imagine, up to full-employment, and lower overall costs.
  3. We stop the ongoing Robber Barons who McKinsey’s Chief Economist documents having ~$30 TRILLION in tax havens, and the Fed finding the US top seven banks creating shell companies to hide $10 trillion. This amount is about 30 times needed to end all global poverty, which has killed more people since 1995 than all wars and violence in all human history.

Public banking creates at-cost and in-house credit to pay for public goods and services without the expense and for-profit interest of selling debt-securities. North Dakota has a public bank for at-cost credit that results in it being the only state with annual increasing surpluses rather than deficits.

Top 3 game-changing benefits of public banking:

  1. a state-owned bank could abundantly fund all state programs and eliminate all taxes with just a 5% mortgage and credit card.
  2. a state-owned bank could create in-house and at-cost credit to fund infrastructure. This cuts nominal costs in half because, as you know, selling debt securities typically doubles the cost. For example, where I live we’re still dismantling the old Bay Bridge in NoCal from the upgrade that cost $6 billion, but the debt-service costs will add another $6 billion when it’s all paid.
  3. CAFRs (Comprehensive Annual Financial Reports) stash “rainy day” funds no longer required with a credit line from a public bank. In addition, the so-called “retirement funds” currently deliver net returns of just a few percent on good years, and negative returns on bad years (herehere). California’s ~14,000 various government entities’ CAFRs have a sampled-data total estimate of $8 trillion in surplus taxpayer assets ($650,000 non-disclosed assets per household, among California’s ~12.5 million households).

$1,000,000 of benefits per US household:

  • California’s CAFR data of ~$650,000 of assets per household is evidence of huge cash assets of similar magnitude in every state.
  • Paying the US national debt of ~$18 trillion saves ~$180,000 per household.
  • Ending state taxes in California to pay a budget of ~$170 billion saves each household ~$15,000, with similar savings in every state.
  • ~$30,000 per household savings annually: the American public would no longer pay over $400 billion every year for national debt interest payments (because almost 30% of the debt is intra-governmental transfers, this is a savings of ~$300 billion/year). If lending is run at a non-profit rate or at nominal interest returned to the American public (for infrastructure, schools, fire and police protection, etc.) rather than profiting the banks, the savings to the US public is conservatively $2 trillion (1). If the US Federal government increased the money supply by 3% a year to keep up with population increase and economic growth, we could spend an additional $500 billion yearly into public programs, or refund it as a public dividend (2). This savings would allow us to simplify or eliminate the income tax (3). The estimated savings of eliminating the income tax with all its complexity, loopholes, and evasion is $250 billion/year (4). The total benefits for monetary reform are conservatively over three trillion dollars every year to the American public. Three trillion is $3,000,000,000,000. This saves the ~100 million US households an average of $30,000 every year. Another way to calculate the savings is to figure those amounts per $50,000 annual household income (for example, if your household earns $100,000/year, you save ~$60,000 every year with these reforms). This savings represents a 60% raise for every US household’s income.
  • Related, if the ~$30 trillion hidden in tax havens by the .01% have $10-$15 trillion from Americans, and we count the Federal Reserve report that the US top seven banks have over $10 trillion stored, then the average US household could clawback ~$200,000 to ~$250,000.

Famous Americans already on record for these reforms:

Please understand that I represent likely hundreds of thousands of professionals making factual claims with objective evidence anyone with a high school-level of education can verify.

The Emperor’s New Clothes obvious pathway out of these mechanics of our “debt system” is to start creating debt-free money (a positive number) for the direct payment of public goods and services, and create public credit for at-cost loans (a negative number). I have three academic papers to walk any reader through these facts; an assignment for high school economics students, one for Advanced Placement Macroeconomics students, and a paper for the Claremont Colleges’ recent academic conference:

Teaching critical thinking to high school students: Economics research/presentation

Debt-damned economics: either learn monetary reform, or kiss your assets goodbye

Seizing an alternative: Bankster looting: fundamental fraud that “debt” is “money”

Let’s examine just some of the facts of the current US economy that demonstrates its criminal status:

For Americans still zombiefied to “believe” in America, please embrace the reality that 40% of US children live at least one year of their lives in under-measured poverty, while oligarchs most responsible literally laugh in grandiose glee of the poverty they euphemise as “income inequality.” Please absorb this 1-minute reality check:

John Perkins’ 2-minutes of context as an illustration of what the US rogue state executes:

More game-changing economic data that confirm what we receive for economic leadership is literal criminal fraud:

15-minute video of obvious solutions: Mark Anielski and Ellen Brown’s powerful 15-minute response to an interview at the Seizing an Alternative conference (and here, with videos here) with former World Bank economist Herman Daly and co-author John B. Cobb of For the Common Good (video should start at 1:04:43):

81-minute interview with Byron Dale and Greg Soderberg of WealthMoney.org (the three of us have combined over 90 years of research on this topic):

Solutions beyond monetary reform and public banking

1-minute glimpse (full documentaries here and here, among many) into available technology we have today (and here) for architecture, transportation, and beauty that are cheaper and far more efficient than today’s designs, that should be fully tested in at least one pilot project with connected facts fully communicated to Americans (and never will be as long as corporate media is a tool of existing rogue-state wanna-be dictators):

I wrote about Labor Day in 2014 being an Orwellian “holiday” because:

US “leaders” psychopathically pretend to care about American labor while lying about a real unemployment rate of close to 25% (the so-called “official” rate excludes under-employed and discouraged workers).

If we compare “apples to apples” with the term unemployment (and here) counted the same way as during the Great Depression, the last eight years’ of US unemployment being between 20% and 25% is worse than the worst of the Great Depression by an average of ~4%.

Please read the above sentence again to fully feel the tragic-comic reality of US labor today.

Unemployment is a cruel and parasitic practice to keep people as work animals by having the employed serve a .01% rogue state empire in relative satisfaction that “at least I have a job,” rather than the alternative of poverty-murder that kills ~1,000,000 human beings every month in gruesome, excruciating slow-motion in ongoing Crimes Against Humanity.

All willing could have living-wage employment if we fully invested in the best infrastructure available (consider this as the best showcase-modeling I find). People are welcome to work in the free market as they do now, and that said, government can become the employer of last resort for hard and soft infrastructure investment. This provides triple benefits for employment, the best infrastructure we can imagine, and falling overall prices to the extent infrastructure investment contributes more economic output relative to costs of inputs. History demonstrates infrastructure investment does reduce overall prices in the current debt-funded model that typically adds ~50% of the projects’ nominal cost to its total cost. Monetary reform with infrastructure means the cost of debt-funding disappears, making this employment even more attractive.

Additional anticipated benefits are reductions of crime and other social costs related to human despair as people see and participate in creating a brighter future for all.


1) Of $60 trillion total debt, a conservative current interest cost of 5% is $3 trillion every year. Two trillion dollars of savings if the profits are transferred to the American public rather than to the banking industry is probably low. St. Louis Federal Reserve Bank: https://research.stlouisfed.org/fred2/series/TCMDO

2) The US GDP is ~$17 trillion. Three percent growth is moderately conservative.

3) Of the US Federal government’s ~$4 trillion annual budget, about $1.7 trillion is received from income tax.

4) Tax Foundation. Hodge, S, Moody, J, Warcholik, W. The Rising Cost of Complying with the Federal Income Tax. Jan. 10, 2006: http://www.taxfoundation.org/research/show/1281.html


Note: I make all factual assertions as a National Board Certified Teacher of US Government, Economics, and History, with all economics factual claims receiving zero refutation since I began writing in 2008 among Advanced Placement Macroeconomics teachers on our discussion board, public audiences of these articles, and international conferences. I invite readers to empower their civic voices with the strongest comprehensive facts most important to building a brighter future. I challenge professionals, academics, and citizens to add their voices for the benefit of all Earth’s inhabitants.


Carl Herman is a National Board Certified Teacher of US Government, Economics, and History; also credentialed in Mathematics. He worked with both US political parties over 18 years and two UN Summits with the citizen’s lobby, RESULTS, for US domestic and foreign policy to end poverty. He can be reached at Carl_Herman@post.harvard.edu

Note: Examiner.com has blocked public access to my articles on their site (and from other whistleblowers), so some links in my previous work are blocked. If you’d like to search for those articles other sites may have republished, use words from the article title within the blocked link. Or, go to http://archive.org/web/, paste the expired link into the box, click “Browse history,” then click onto the screenshots of that page for each time it was screen-shot and uploaded to webarchive. I’ll update as “hobby time” allows; including my earliest work from 2009 to 2011 (blocked author pages: herehere).


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  • michael smebak

    Ever notice how in ITS A WONDERFUL LIFE. Mr Potter never gets in trouble. This film would have never been released if the BANKER would get it in the end.

  • joseph j guider

    Some one with the proper navigation skills should get this data to the Trump transition team?
    It’s amazingly simple and screw the .01%, personally I never concerned myself about them anyway, I was living a perfectly happy middle class life up until recently?
    Merry Christmas ! everyone.

  • WillDippel

    Here is an article that looks at how the Federal Reserve misled Americans about the health of the economy prior to the Great Recession:


    Despite the fact that the brilliant minds at the Fed have access to all of the economic data, they still manage to get it wrong

  • Grrr

    The US is a classic example of how a whole nation can be sucked into using totally valueless printed paper as a genuine currency.. Even the stuff you wipe your bum with has more value!

  • madrino

    The lies of Middle Eastern, European and Asian civilization are so long, so horrendous, so pathetic, that there is no way to educate anyone of this monstrosity. Capitalism will conclude with those that do nothing owning almost everything. How do they do it? https://criminalbankingmonopoly.wordpress.com
    I’m on my way to learning about the indigenous peoples of the Western Hemisphere BC (before Columbus). We do, as John Perkins has pointed out so well, live in a culture of death. Decadent or depraved, there will be little more than owners, a few workers, paid consumers, the vast majority of people are obsolete (good video http://truthstreammedia.com/2016/10/26/obsolete-first-mini-documentary/ ) and expendable. The only thing left to do is work my garden, fruit and nut trees and help others do the same or create community gardens. Humanity seriously needs a time out.

  • h5mind

    There are few things about which people are so ignorant as money, debt, and production. This is by design of course, because the. 01% would be hanging from light posts otherwise. It’s encouraging Trump chose a Bitcoin proponent as Budget director. If we can divest ourselves of the Federal Reserve, other countries would follow. Imagine the things we could accomplish if 99% of us weren’t enslaved to the other 1%?

    • Stefanieomerritt

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  • Sam Nelson

    Great job David, thanks.

    • Carl_Herman

      On behalf of David, thanks for recognizing his ongoing great work 🙂

      That said, this article was mine.

      • Sam Nelson

        Thank you, sir.