Posted at 05:31 PM in Economy | Permalink | Comments (0) | TrackBack (0)
Posted at 03:49 PM in Economy, Federal Reserve | Permalink | Comments (0) | TrackBack (0)
“It’s not a recovery, its a cover up”
“The standard of living is going to continue to decline”
“We are in the early stages of a revolution”.
Posted at 09:14 PM in Economy | Permalink | Comments (0) | TrackBack (0)
Interesting. I would particularly like to know why the gold is valued at $44.22/oz?
From the Wall Street Bear..
Would you believe me if I told you that BOTH the Fed and Treasury...
Rasputin - Sun, Sep 13, 2009 - 05:07 PM
...claim to own the same U.S. stockpile of gold, in what is apparently a case of "double counting"?
Well, it's true, unless there is something I'm missing.
And I believe I can prove this allegation, NOT by citing some "Doom and Gloom", "End of the World", conspiracy-minded Website, but rather by providing links to the Fed and Treasury's own published reports on the matter.
Let's start with the Fed. Perusing the Federal Reserve's "H.4.1" report found here:
http://www.federalreserve.gov/releases/h41/Current/
...under the section entitled:
"1. Factors Affecting Reserve Balances of Depository Institutions"
...we find the following entry:
"Gold Stock: $11,041"
(Ras): That $11,041 number (in billions) represents the roughly 260 million ounces of U.S. gold, valued at the insanely-low $42.22 per ounce price that the U.S. government decided to slap on their stash of the useless yellow rocks.
So, 260 million ounces, times $42.22 per ounce, yields roughly 11 billion fiatscos of gold.
On the Federal Reserve's balance sheet.
As an asset.
Period.
With no apparent off-setting liability.
Which is as it should be since we all know that "Gold is no one else's liability.", right?
Now, let's turn to the U.S. Treasury, who ALSO claims the exact, same, gold on THEIR balance sheet!!!
Here are the relevant links:
The overall "Financial Report" site can be found here:
http://www.fms.treas.gov/fr/index.html
...and the specific financial statement of the U.S. Treasury can be found here:
http://www.fms.treas.gov/fr/08frusg/08stmt.pd
...and under the heading:
"Cash and Other Monetary Assets"
...we find the total amount of said "Cash and Other Monetary Assets" to be:
$424 billion, with an asterisk stating: "See Note 2"
Of course, Uncle Sugar doesn't make it easy to discern just what those "Other Monetary Assets" are in "Note 2", hiding them in a separate document of "Notes". But persistent little Rasputins have the patience to burrow down into the bowels of the beast to find the answer.
And here is the link to that separate "Notes" document, which explains what's what:
http://www.fms.treas.gov/fr/08frusg/08notes.pdf
Scrolling down to page seven of the PDF (which corresponds to page 49 for whatever strange reason), we see all the descriptions of what constitutes "Cash" and what comprises "Other Instruments".
And lo-and-behold if the U.S. Treasury isn't counting THE EXACT, SAME 262 MILLION OUNCES OF GOLD AS THEIRS!!!
Here is the actual passage, ripped right from the document (from page eight of the PDF):
"Gold is valued at the statutory price of $42.2222 per fine troy ounce. The number of fine troy ounces was 261,498,900 as of September 30, 2008,...Gold totaling $11.0 billion as of September 30, 2008,...was pledged as collateral for gold certificates issued and authorized to the FRBs by the Secretary of the Treasury. Treasury may redeem the gold certificates at any time. The liabilities for the gold certificates issued are included in Note 16—Other Liabilities."
(Ras): Think about this, folks. The Fed clearly states in THEIR balance sheet that they hold $11 billion in gold.
However, so too does the U.S. Treasury, who mentions that the Treasury used the gold to "collateralize" "Gold Certificates", which Treasury issued to the Fed (with an offsetting "liability" for the gold certificates).
So, the Fed is holding "Gold Certificates", but doesn't state as such on their balance sheet. They just state "Gold Stock". Furthermore, there is no specific line item that I can find in the Fed's balance sheet that says something to the effect:
"Um, this isn't really our gold, we're just holding it for the Treasury in the form of "Gold Certificates" and, besides, there is an offsetting liability on our books for those certificates."
And the U.S. Treasury states that the $11 billion in gold is part of their "Cash and Other Monetary Instruments".
So, how can BOTH the Fed AND the Treasury claim to be holding the same gold?
Furthermore, what happens to the Fed's balance sheet if Uncle Sugar really DOES redeem their "Gold Certificates"? Again, there is no line item on the Fed's balance sheet that states:
"Offsetting Liability of Gold Certificates" for Gold Held as an Asset"
(Ras Conclusion): In what is apparently the most egregious case of double-counting in the history of the U.S., we now have both the Federal Reserve and U.S. Treasury claiming to hold the same gold.
Furthermore, the stash of buggy whips is only valued at $42.22 per ounce, when in fact the spot price today is TWENTY-THREE TIMES that number!!!
And don't even get me started on whether the gold is really in Fort Knox, that's a conspiracy for another day.
The bottom line: Who's gold is it? Why are they apparently double-counting it?
Furthermore, for what are these "Gold Certificates" used?
Inquiring Ras's wanna know. If anyone has any insight into this matter, please share it.
Posted at 09:56 PM in Economy, Federal Reserve | Permalink | Comments (0) | TrackBack (0)
Posted at 08:32 PM in Economy | Permalink | Comments (0) | TrackBack (0)
A great email sent to me today. Having trouble articulating to yourself or others as to why exactly the Fed should be abolished? Read and pass on this email to as many Americans as you can. People need to KNOW what the Fed has done and is doing to our country.
Attached is a transcript the Congressional Record of June 10, 1932 by Louis T. McFadden
Here is the original scanned doc of the same
http://www.scribd.com/doc/16502353/Congressional-Record-June-10-1932-Louis-T-McFadden
Bear in mind that while this is McFadden’s testimony in congress, it is not him alone. He quotes several people in various offices who have insights as to the matter.
Controversy:
As with ALL things, there is opposition. There are postings by critics who try and discredit McFadden. But from what I have read, they only pick on minor flaws, math mistakes, and other stupid things. I have not found any real discredit of the core information he presented. Quite the contrary; there are tons of other resources and the voice of multiple testimonies out there.
Quiz:
If you decide to read through this doc, see if you can answer for yourself the following:
· Who Controls the Fed?
· Who controls the US Government?
· The Fed serves whose interest?
· To what is our Govt liable?
· In what way is the Fed diabolically operating?
Quotes:
Here are several key points of interest. Unless indicated otherwise, it is McFadden speaking. Be sure to at least read the description of how the Fed operates! (pages 6-7)
(page 2 )
“The Federal Reserve Bank destroyed our old and characteristic way of doing business. It discriminated against our 1-name commercial paper, the finest in the world, and it set up the antiquated 2-name paper, which is the present curse of this Country and which wrecked every country which has ever given it scope; it fastened down upon the Country the very tyranny from which the framers of the Constitution sough to save us.”
(page 3 )
“…in 1837, the Country was warned against the dangers that might ensue if the predatory interests after being cast out should come back in disguise and unite themselves to the Executive and through him acquire control of the Government. That is what the predatory interests did when they came back in the livery of hypocrisy and under false pretenses obtained the passage of the Fed.”
Regarding the Federal Reserve Act, Senator Henry Cabot Lodge, of Massachusetts, wrote to Senator John W. Weeks as follows:
December 17, 1913
"... have supported all measures designed to take the Government out of the banking business. This bill puts the Government into the banking business as never before in our history."
"The bill as it stands seems to me to open the way to a vast inflation of the currency."
"...it seems to me to contain features and to rest upon principles in the highest degree menacing to our prosperity, to stability in business, and to the general welfare of the people of the United States"
(page 4)
In 1913, before the Senate Banking and Currency Committee, Mr. Alexander Lassen made the following statement:
"The whole scheme of the Fed...will prove to the advantage of the few and the detriment of the people."
McFadden Continues:
“…the German International bankers, Kuhn, Loeb and Co. sent one of their partners here to run it”
(page 5)
“The Fed Note is essentially unsound. It is the worst currency and the most dangerous that this Country has ever known.”
“They (proponents of the Fed) should not have made the Government [liable on the private] debts of individuals and corporations, and, least of all, on the private debts of foreigners.”
(page 6)
Scottish Distillers, Fed Money-changing example:
"Mr. Chairman, if a Scottish distiller wishes to send a cargo of Scotch whiskey to these United States, he can draw his bill against the purchasing bootlegger in dollars and after the bootlegger has accepted it by writing his name across the face of it, the Scotch distiller can send that bill to the nefarious open discount market in New York City where the Fed will buy it and use it as collateral for a new issue of Fed Notes. Thus the Government of these United States pay the Scotch distiller for the whiskey before it is shipped, and if it is lost on the way, or if the Coast Guard seizes it and destroys it, the Fed simply write off the loss and the government never recovers the money that was paid to the Scotch distiller. “
"While we are attempting to enforce prohibition here, the Fed are in the distillery business in Europe and paying bootlegger bills with public credit of these United States.”
German Beans (another example):
"Mr. Chairman, if a German wishes to raise a crop of beans and sell them to a Japanese customer, he can draw a bill against his prospective Japanese customer in dollars and have it purchased by the Fed and get the money out of this Country at the expense of the American people before he has even planted the beans in the ground.”
(page7)
"Mr. Chairman, there is nothing like the Fed pool of confiscated bank deposits in the world. It is a public trough of American wealth in which the foreigners claim rights, equal to or greater than Americans. The Fed are the agents of the foreign central banks. They use our bank depositors' money for the benefit of their foreign principals. They barter the public credit of the United States Government and hire it out to foreigners at a profit to themselves. “
"All this is done at the expense of the United States Government, and at a sickening loss to the American people… "We need to destroy the Fed wherein our national reserves are impounded for the benefit of the foreigners. "We need to save America for Americans. “
Conclusion:
So, anyone in favor of keeping the Fed? Anyone still thinking it’s a good idea to just reform it? Or shall we abolish this catastrophic menace to society? Seems to me, it is rotten from the core out, and from the ground up. It has no foundation based on principles that in any way would reflect the founding fathers intent. Quite the opposite in fact. This is the very thing they escaped from, and fought to prevent.
Posted at 02:12 PM in Economy, Fascism, Federal Reserve | Permalink | Comments (0) | TrackBack (0)
If a U.S. president had utilized Executive Order 11110 the debt would be nowhere near the current level
On June 4, 1963, President John F. Kennedy signed Executive Order No. 11110 [see transcript below] that returned to the U.S. government the power to issue currency, without going through the Federal Reserve (US Central Bank). Mr. Kennedy's order gave the Treasury the power "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This meant that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation.
As a result, more than $4 billion in United States Notes were brought into circulation in $2 and $5 denominations [See photo below]. $10 and $20 United States Notes were never circulated but were being printed by the Treasury Department when Kennedy was assassinated.
Posted at 10:09 PM in Economy, One World Government | Permalink | Comments (0) | TrackBack (0)
Technorati Tags: Assasination, Executive Order, Federal Reserve, JFK, John F. Kennedy, Kennedy
A co-worker sent this out and he is correct, it is simply eye-opening. Please pass this on to as many as you can. The more people learn, the better. I also recommend The Creature from Jekyll Island: A History of the Federal Reserve, a book written by Edward Griffen.
My co-worker wrote:
I just discovered this and this simply is eye-opening. This documentary discusses about IRS, Federal Reserves system, war on terror, globalization, and other subjects which are germane to current national discussions, but, in my opinion, this documentary takes an out-of-box approach to these issues. Created by Aaron Russo who also produced The Rose, Trading Places, and Wise Guys.
YouTube - America - Freedom to Fascism Part 1 Of 11
Posted at 08:47 AM in Corruption, Economy, Fascism, Federal Reserve | Permalink | Comments (0) | TrackBack (0)
America, take note:
“Documentary on the events that led to the economic collapse of Argentina in 2001 which wiped out the middle class and raised the level of poverty to 57.5%.
Central to the collapse was the implementation of neo-liberal policies which enabled the swindle of billions of dollars by foreign banks and corporations. Many of Argentina’s assets and resources were shamefully plundered. Its financial system was even used for money laundering by Citibank, Credit Suisse, and JP Morgan. The net result was massive wealth transfers and the impoverishment of society which culminated in many deaths due to oppression and malnutrition. If you want to stop the same thing from happening here, and it is happening here, right now, please join the revolution at the Kick Them All Out Projet http://www.KickThemAllOut.com and the Fire Congress Campaign.” - infowars.com.
Watch the file here at infowars.com.
Posted at 05:04 PM in Economy | Permalink | Comments (0) | TrackBack (0)
