"Renaissance Thinking About the Issues of Our Day"
"To those of you in the audience who are business people, pretty simple: If you're paying $12, $13, $14 an hour for factory workers and you can move your factory South of the border, pay a dollar an hour for labor, hire young -- let's assume you've been in business for a long time and you've got a mature work force -- pay a dollar an hour for your labor, have no health care -- that's the most expensive single element in making a car -- have no environmental controls, no pollution controls and no retirement, and you don't care about anything but making money, there will be a giant sucking sound going south.
So we -- if the people send me to Washington the first thing I'll do is study that 2,000-page agreement and make sure it's a two-way street. One last part here -- I decided i was dumb and didn't understand it so I called the Who's Who of the folks who've been around it and I said, "Why won't everybody go South?" They say, "It'd be disruptive." I said, "For how long?" I finally got them up from 12 to 15 years. And I said, "well, how does it stop being disruptive?" And that is when their jobs come up from a dollar an hour to six dollars an hour, and ours go down to six dollars an hour, and then it's leveled again. But in the meantime, you've wrecked the country with these kinds of deals. We've got to cut it out."
The Federal Reserve is neither federal nor does it have any reserves. It is a private corporation authorized by Congress, by an act of Congress 1913 and it's owned by its 12 member banks who are in turn owned by their member banks who are in turn owned by stockholders like you and me, if you or me choose, I don't own any stock in a bank, but if you choose to own stock in a bank. And a private corporation, by the way, that has never been audited. And so you see this amazing thing in Congress right now where Bernie Sanders in the Senate and Ron Paul in the House of Representatives and Dennis Kucinich in the House of Representatives are calling for the Fed to be audited after all these years. Where have those trillions of dollars gone? Who knows? Who knows?