A recorded YouTube interview (Richard Canfield with guest David Morgan) exploring how concentrated money power shapes societies and individual lives. Morgan recounts his childhood reaction to the 1960s coinage change, describes discovering fractional-reserve banking as a turning point, and argues the financial system—including politics, legal and insurance industries—has widespread corruption and control. He emphasizes the idea of "power in the purse" (consumer choice) but notes many people are too economically strained to exercise it. The transcript contains an ad/promo and a brief Q&A about public misunderstanding of central banks.
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The problem is now so many people are just eking out a living even though they're working two or three jobs in some cases.
My guest today has dedicated his life to showing people the storm that's building beneath the financial system. Welcome to the show. David Morgan. He's the author of the Silver Manifesto and he publishes the hugely popular Morgan Report.
The money power is pervasive worldwide and has infiltrated many industries that we used to trust. How can you get 10 times the amount of something just because you saved, say so we're the only species that has to have this currency in order to basically live. That's a real hard one. I just have to go back to my early age. I mean, this had part of it maybe on a subconscious basis. I don't want to be overthinking this, but the currency or the money changed. Coinage changed when I was 11 years old. So from 90% silver coins to what I call Johnson slug, Coopro, nickel, quarters, dimes and halves and really quarters and dimes I don't really have circulating back then, but. And it kind of woke me up. It's like, well, wait a minute, this silver quarter's got to be worth more than this copper one. But no one around me in that area seemed to be paying attention. I'm an 11 year old kid, I don't really know, but it fascinated me and it kind of put me on this quest for, you know, what money is and how it works. Because all I knew was that if you saved enough money, you could buy a house. And if you didn't have enough money to buy the house outright, which I didn't even know was an 11 year old, you got a mortgage. And that's about all I knew. Well, if you get a mortgage for, you know, family, residents, how do all these skyscrapers happen? How do you build a sports stadium? You know, so those questions were kind of rattling my head as a young man. And then I, on my own, discovered fractured reserve banking. And how that worked. And that to me seemed to be offensive on its face. You know, how can you get 10 times the amount of something just because you say so? You know, I like to say, you know, I'm worth 10 times as much as I am, how come I can't do that? So I've been a little funny, but that's what broke, you know, that phase was like the next step up. And to finally answer your question, not only did I understand that really it was fraudulent on its face value, but that money actually was something that interfaced with Everyone worldwide. Yeah, I mean it transcends religion, it just, just transcends national origin culture. Everyone's got to fight for that dollar or that euro or the yen or what have you in order to survive. And we're the only species that has to have this currency in order to basically live. And that went to the next step. And I'm done answering the question that gives the money elite tons of control and where I like to go with that, as we all know or you maybe some won't believe me, but I think most of this channel would. All the politicians for the most part are bought and paid for. That means the whole political system is basically corrupt, which means we don't have representative government.
Look, we all think that we should be paying only your fair share in taxes. Just so happens. I think your fair share is lower than probably what you're paying now. Well we talk a little bit about that in our book Key taxes away from your wealth. You can get a copy and access to the bonuses by going to keeptaxes away dot com. That's keep taxes away dot com. Head on over there and pick up a copy today.
So that's as far as it went. Long answer. But honestly it's been a quest, it's been a journey, it's been a non, an ever non ending learning process because as I've gotten deeper and deeper and like oh, that part of it can't be corrupt. Oh yeah it is. Or at least the legal system. No, they're corrupt too. Well the. Oh no, some of the insurance industry is bad as well. Well wait, at least he's got no, wait a minute now I'm not saying everything is a. Is corrupt and that everyone is corrupt. I still believe most people are good. But that's not the money power control. So the money power is pervasive worldwide and has infiltrated many industries that we used to trust implicitly, such as insurance. And there are good ones. But you can't. I don't think there's any industry that I know intimately that hasn't been corrupted somewhere. I'm not saying all of that. What I'm saying is pick an industry like consumables as on the stock exchange. There's some in there that are corrupt, period. So I said enough. Probably too much. But back to you guys.
Yeah, no, it's great.
But.
Well, I would ask just a follow up. So now that you've gained obviously a lot of experience, what do most people misunderstand about money and freedom and the way that central banks actually Operate?
Well, one is, I think they are taught to believe that someone has to be the bank, someone has to be in control. I submit. I've been taught to submit to authority my whole life. So, yeah, okay, fine, but we got to have it anyway. So I think it's the idea that, well, someone has to have the money power, and it sure as heck isn't me. Whereas if you go back to earlier times, people actually did have the power. Yeah. And they still do in a way, and I'm going on topic but slightly sideways here, that if we just voted more consciously with our dollars or our Canadian dollars or our euros, and as an example, we all only bought organic food, all of a sudden this GMO stuff would go away. Now, having said that, I'm super aware and alert that most people can't afford to do that. Right. There probably might have been a time 10 or 15 years ago and if we were more awake as, you know, as a society, might have been able to force it in that direction. So there is power in the purse. But the problem is now so many people are just eking out a living, even though they're working two or three jobs in some cases, that that power to maybe buy better food or, you know, get a better whatever doesn't exist because they're just seeking by. So I think I answered that question, but it's disheartening to me because the opportunity could have been seized. But you know how many people think that way. It's. They're too busy earning a living to understand how the financial system works. So rely on the authorities rather than the alternative people like you and I.
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