That is your and my taxpayer money that is going straight to big banks. And roughly 40 to 50% of those banks are foreign banks. And so Ending [the Federal Reserve's practice of paying interest on bank reserves] would save $1.1 trillion over the next 10 years. So that's an example of the kind of cutting we can do. And I don't think we should be sending our taxpayer dollars to giant banks. (01:30–01:37)
CLAIM
Asserts that ending the Federal Reserve's practice of paying interest on bank reserves would save $1.1 trillion over a decade.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
