And by the way the FED doesn’t actually print money (the Treasury does that) But the Fed does control the “monetary base,” the sum of bank reserves and currency in circulation.So when people talk about Mr. Bernanke printing money,what they really mean is that the Fed expanded the monetary base.So Ron Paul could use Big Goverment to FORCE to abandon Private Fed,but Treasury could flood the US with Fiat Currence throw other agencies.
"GOLD" NOT OIL CAUSE OF US UNLAWFULLY ATTACKING LIBYA!! Muammar Al-Qaddafi's plan to introduce the gold dinar, a single African currency made from gold, a true sharing of the wealth. THE US HAD TO STOP HIM FROM CREATING LIBYA’S OWN CURRENCY!!!
"GOLD" NOT OIL CAUSE OF US UNLAWFULLY ATTACKING LIBYA!! Muammar Al-Qaddafi's plan to introduce the gold dinar, a single African currency made from gold, a true sharing of the wealth. THE US HAD TO STOP HIM CREATING LIBYA’S OWN CURRENCY!!!
JFK TRIED TO WARN THE US ABOUT A MONOLITHIC CONSPIRACY AROUND THE WORLD WHERE HE ASKED (IF NOT BEGGED) THE MEDIA TO HELP ALERT THE AMERICAN PEOPLE. THE MEDIA DID NOT ALERT THE AMERICAN PEOPLE. IN FACT, YOU(WE) WERE NOT TAUGHT ABOUT THIS BEYOND EPIC CHILLING SPEECH IN SCHOOL, THE MEDIA, OR ANYWHERE ELSE. THE UNBELIEVABLE EVIL STILL EXISTS TODAY. TELL EVERYONE YOU KNOW, KEEP TALKING...
End Money Creation by privately owned banks and end Fractional Reserve Banking. Money should only be issued by governments in order to control the quantity.
Governments should issue their own money; not borrow from privately owned banks. Otherwise we are doomed to a world ruled by a plutocracy. A gold standard will not stop fractional lending.
Even Goldman was leveraged over 300 to one.
The leverage by banks was way beyond the standard 10 to 1 which should not even be.
@marinello6 "End Money Creation by privately owned banks and end Fractional Reserve Banking. Money should only be issued by governments in order to control the quantity"
Ever have a mortgage or car loan? You created money. Shhhhh......your secret is safe with me.
@jimmyrtle I was mainly speaking of the Federal Reserve and not the government printing and creating our money. Banks should get out of the business of government in my opinion.
@jimmyrtle You can believe what they tell you or know that what is good for the Fed is good for the private owners (shareholders) that make up the consortium. There are a variety of opinions. You really should just google it. They certainly debase our currency. That is the real reason that food, fuel etc. is high. Since when should a government borrow money from a private cartel at interest? Read the various opinions which as you know are all over the internet.
@jimmyrtle Because each year, and I am 56 years old, I have seen the purchasing power of my money and others destroyed. My point is that government should not borrow from banks. We did without central banking for long periods of time and the panics and depressions that central banking was supposed to prevent has not happened. We all want a stable form of purchasing power. People and even the super rich are disgusted and scared, that is why gold is rising.
@jimmyrtle Federal Reserve Notes, the currency we use in the United States, are evidence of the debt of the U.S. government to the Federal Reserve. The central bank charges the government interest for this currency, thereby diverting billions of dollars from the Treasury that could be used for other things. The government could print its own money and avoid the Fed's interest.
@jimmyrtle You ask legitimate questions. I wish I was an insider so that I could tell you exactly who is profiting. I do not know how often money is paid back to the Treasury. Even if it is once a year, the currency is debased and interest can be made on money until it is paid back. You maybe can enlighten me as to what you know or believe.
@jimmyrtle Since 1913 (98 years) we all have been enslaved with illegal income taxes!! There is NO LAW we have to pay them. Along with illegal income taxes The Federal Reserve is a SCAM created by foreign bankers on U.S. soil which is NOT part of the U.S. Federal Government!!
Guess what else? JFK ended The Federal Reserve 5 months before his murder Executive Order 11110
@jimmyrtle MORON, after JKF enacted Executive Order 11110 (actually still in effect today) the U.S. started printed it's own money for the 1st time sine 1913 ending the stranglehold the Fed has had on the country now going a 100 years (CRYSTAL CLEAR IN THIS VIDEO). After JFK'S head was nearly blown off the fed resumed their EVIL. The Fed HAS NEVER BEEN part of the U.S govt THEY ARE ALL ONE BIG SCAM!!
Search Google video: Aaron Russo's America: Freedom to Fascism
@Nezello EO 11110 doesn't do anything to the Fed. The Fed continued to produce FRNs while it was in effect and now that it's no longer in effect, the Fed still exists and still prints FRNs.
The Fed turns over more than 90% of their earnings to the Treasury every year.
Why would an evil, foreign bank do that?
Let me know if you ever stumble over a fact.
And you should try not paying that "illegal income tax"
@jimmyrtle Of course federal reserve notes were still in circulation while JFK ordered the U.S. to start printing our own money, JKF was filling the market with the new notes to overtake the federal reserve notes. The fed does not turns over money to the Treasury it gets divided among the anonymous owners of the fed.
The Federal Reserve rebates its net earnings to the Treasury every year. Consequently, the interest the Treasury pays to the Fed is returned, so the money borrowed from the Fed has no net interest obligation for the Treasury. The government could print its own currency independent of the Fed, but there would be no effective safeguards against abuse of this power for political gain.
@jimmyrtle Nothing is done for the benefit of the average man or woman in our system. Everything is done for the benefit of corporations, banks being corporations which are global. To be more blunt. No political leader, corporation-country etc., gives a damn about the likes of you or I. They only care about how they can take from you so that they have more and you and I have less.
Your main point is incorrect in that banking can exist without a fractional reserve system. The rest of your posts were just you explaining how fractional reserve banking works, which I was not disagreeing with. My point is that money creation is not necessary for a banking system to function. What more do you want me to say? Youre also continuously ignoring the detrimental effects inflation and false interest rate bubbles from money creation have on an economy.
JFK TRIED TO WARN THE U.S. ABOUT A MONOLITHIC CONSPIRACY AROUND THE WORLD WHERE HE ASKED (IF NOT BEGGED) THE MEDIA TO HELP ALERT THE AMERICAN PEOPLE. THE MEDIA DID NOT ALERT THE AMERICAN PEOPLE. IN FACT, YOU(WE) WERE NOT TAUGHT ABOUT THIS BEYOND EPIC JFK CHILLING SPEECH IN SCHOOL, THE MEDIA, OR ANYWHERE ELSE. THE EVIL IS EXPLODING AROUND US TODAY.
Presidential Executive Order 11,110 is quite infamous among conspiracy buffs. Jim Marrs, author of Crossfire: The Plot that Killed Kennedy, writes that the order instructs the Treasury secretary to issue about $4.2 billion in silver certificates as a form of currency in place of Federal Reserve Notes. Written by John F. Kennedy, Marrs also speculates this order was part of a larger plan by Kennedy to reduce the influence of the Federal Reserve by giving
the Treasury more power to issue currency. The order was signed June 4, 1963. A few months later, of course, Kennedy was killed, and conspiracy theorists hypothesize a link between the murder and E.O. 11,110. They argue that the Federal Reserve was somehow involved in the assassination to protect its power over monetary policy.
The executive order modifies a pre-existing order issued by Harry Truman in 1951. E.O. 10,289 states:
The Secretary of the Treasury is hereby designated and empowered to perform the following-described functions of the President without the approval, ratification, or other action of the President..." The order then lists tasks (a) through (h) which the Treasurer can now do without bothering the President. None of the powers assigned to the Treasury in E.O. 10,289 relate to money or to monetary policy. Kennedy's E.O. 11,110 then instructs that:
@Nezello SECTION 1. Executive Order No. 10289 of September 9, 1951, as amended, is hereby further amended (a) By adding at the end of paragraph 1 thereof the following subparagraph (j): '(j) The authority vested in the President by paragraph (b) of section 43 of the Act of May 12, 1933, as amended (31 U.S.C. 821(b)), to issue silver certificates against any silver bullion, silver, or standard silver dollars in the
Treasury not then held for redemption of an outstanding silver certificates, to prescribe the denominations of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption,' and (b) By revoking subparagraphs (b) and (c) of paragraph 2 thereof.
SECTION 2. The amendments made by this Order shall not affect any act done,
or any right accruing or accrued or any suit or proceeding had or commenced in any civil or criminal cause prior to the date of this Order but all such liabilities shall continue anymay be enforced as if said amendments had not been made.
John F. Kennedy, THE WHITE HOUSE, June 4, 1963.
To understand exactly what Kennedy's order was trying to do, we must understand the purpose of the legislation which gave the order its underlying authority.
The Agricultural Adjustment Act of 1933 (ch. 25, 48 Stat 51) to which Kennedy refers permits the President to issue silver certificates in various denominations (mostly $1, $2, $5, and $10) and in any total volume so long as the Treasury has enough silver on hand to redeem the certificates for a specific quantity and fineness of silver and that the total volume of such currency does not exceed $3 billion.
The Silver Purchase Act of 1934 (ch. 674,48 Stat 1178) also grants this power to the Treasury Secretary subject to similar limitations. Nowhere in the text of the order is a quantity of money mentioned, so it is unclear how Marrs arrived at his $4.2 billion figure. Moreover, the President could not have authorized such a large issue because it would have exceeded the statutory limit.
As economic activity grew in the fifties and sixties, the public demand for low denomination currency grew, increasing the Treasury's need for silver to back additional certificate issues and to mint new coins (dimes, quarters, half-dollars). However, during the late fifties the price of silver began to rise and reached the point that the market value of the silver contained in the coins and backing the certificates was greater than the face value of the money itself.
To conserve the Treasury's silver needs, the Silver Purchase Act and related measures were repealed by Congress in 1963 with Public Law 88-36. Following the repeal, only the President could authorize new silver certificate issues, and no longer the Treasury Secretary. The law, signed by Kennedy himself, also permits the Federal Reserve to issue small denomination bills to replace the outgoing silver certificates
(prior to the act, the Fed could only issue Federal Reserve Notes in larger denominations). The Treasury's shrinking silver stock could then be used to mint coins only and not have to back currency. The repeal left only the President with the authority to issue silver certificates, however it did permit him to delegate this authority. E.O. 11,110 does this by transferring the authority from the President to the Treasury Secretary.
E.O. 11,110 did not create authority to issue new silver certificates, it only affected who could give the order. The purpose of the order was to facilitate the reduction of certificates in circulation, not to increase them. In October 1964 the Treasury ceased issuing them entirely. The Coinage Act of 1965 (PL 89-81) ended the practice of using silver in most U.S. coins, and in 1968 Congress ended the redeemability of silver certificates (PL 90-29).
E.O. 11,110 was never reversed by President Johnson and remained on the books until 1987 when there was a general cleaning-up of executive orders (E.O. 12,608, 9/9/87). However, by this time the remaining legislative authority behind E.O. 11,110 had been repealed by Congress with PL 97-258 in 1982.
In summary, E.O. 11,110 did not create new authority to issue additional silver certificates.
In fact, its intention was to ease the process for their removal so that small denomination Federal Reserve Notes could replace them in accordance with a law Kennedy himself signed. If Kennedy had really sought to reduce Federal Reserve power, then why did he sign a bill that gave the Fed still more power?
Marrs also makes some other factual errors in his conspiracy tale that suggest he is not very familiar with the Federal Reserve or the financial system.
@SadegoGG June 4th 1963 JFK set into motion the U.S. printing our money for the 1st time since 1913. There are those who also say JKF insisted upon in riding in a convertible limousine in Dallas 11/22/1963. Well since his head was blown off we can't exactly ask him how did you like the car. So his recorded words of warning the U.S. and the world are more prolific of what JFK was trying to do than anything else.
Please provide the legislation you are referring to from June 4th, 1963. Also, provide documentation of JFK warning about whatever you are claiming he was warning the US about.
@SadegoGG I do not debate TROLLS or willfully MORONIC dip-shits who cannot see links provided that reference whatever the author is stating. I JUST SLAM FUCKING DUNK PEOPLE WHO OPEN THEIR MOUTHS WHO HAVE NO FUCKING CLUE WHAT THEY ARE TALKING ABOUT OR ARE TROLLS... IN OTHER WORDS TROLL OR NOT I DESTROYED YOU TWICE...
He writes that a source of tension between the Federal Reserve and the Kennedy Administration was the Treasury's desire to allow banks to underwrite state and local government bonds, thereby weakening the "dominant" Federal Reserve banks. However, such a move, which was later permitted by Congress, would not have affected the Federal Reserve system because it had never been involved in underwriting bond issues.
Marrs also claims that Kennedy signed a bill that changed the backing of small denomination currency from silver to gold to "add strength to the weakened U.S. currency." This is completely false. U.S. currency has not been on the gold standard since 1934, and silver certificates, as their name suggests, had never been redeemable in anything but silver. In addition, U.S. currency was not "weak" during Kennedy's time:
There had not been any significant inflation since the late forties, and the exchange rate value of the dollar was fixed according to the Bretton Woods agreement.
In the introduction to his book, Marrs advises the reader not to trust his book. This appears to be good advice.
References:
1. Marrs, Jim (1989), Crossfire: The Plot that Killed Kennedy, New York: Carroll & Graf Publishers.
ISRAEL aka "AIPAC" aka "ADL" aka "RUSSIANS JEWS MAFIA" aka "ALL THE CRAZY FUNKY CULTS FROM HELL" aka "THE SCIENTOLOGY" aka "THE MKULTRA" aka 101 aka 404 aka "THE CONTROL OF THE INTERNET" aka "CONTROLLER AND MANIPULATING THE WHITE HOUSE" aka "OSEH", "SKULL TO VOICE", "DEW"-"THE MOST LUNATIC CRAZY S.N OF A B..CH"- "ISRAEL"
The "Insiders" such as Kissinger knew that real estate would collapse 5 years later. They had to destroy as much Commercial Property starting with Building 7 and the Trade Towers otherwise they would lose money!
Don't people See the link between the "Known to Come" Real Estate Collapse" due to the internet, outsourcing, the Lack of Need of People to Fill the Desks of Commercial Property and the DESTRUCTION of Commercial Property in the West?
Great video...Everyone watching this should send it to 10 friends. The fed needs to be audited and we need to place reps in our Gov with the guts to do it. Look at what the fed has done to our economy over the last 20 years. Greenspan left interest rates so darn low that it basically screwed up the system. The tarp bailout should have never happened. Tell me, how would your life be affected if GS went under?
The Federal Reserve is audited annually under the Federal Banking Agency Audit Act of 1978 (31 USCA §714).
The Federal Reserve was audited from when it was first signed in 1913, and the audits became more thorough in 1978. The Federal Reserve is presently audited by the GAO and by private accounting firms. You can review specific financial and performance information from the audits in the FRB Annual Reports.
Attention Obamatons, and mindless Republicans: Your candidates are cruel hoaxes. Please let go of the false left right paradigm. Grow up. We need to overthrow the establishment institutions such as the Fed. Neither of the "mainstream" candidates have the guts to face this monster.
Ron Paul and Dennis Kucinich together. Google that. Both are principled gentlemen. TOGETHER THEY CAN WIN!
Register to vote as a Republican, or he CANNOT win the Republican nomination, because YOU will NOT be eligible to vote for him in the PRIMARY! You can still vote however you want in the final election.
@crogromphulous Ron Paul would be assassinated by a crazy lone gunman firing magic bullets if he ever tried to take on the Fed and mess with the program like JFK. Nobody has tried it since, they had to shoot Bobby because he thought the same way. Notice how Ron Paul never suggest the obvious - repealing the Federal Reserve Act. He's frightened.
I provided a debunk to the JFK assassination to another poster, I would challenge you to read it. Just click "See All" comments and search my username and you will find the series of posts regarding the JFK assassination and EO 11,110
It's money magic, manipulation, fixing and sleight of hand. These are the money masters. They control the printing and scarcity of money on immense scales. The very idea that the money masters at the Fed didn't long before anticipate the crash of '08 is not just laughable -- it's absurd.
They know exactly what they're doing, and the groundwork for the crash had being laid for years.
And they pulled it off -- the largest legalized robbery in human history.
This is crap put out by the followers of Eustace Mullins who starting in the 1950's put out tracts,articles and books condeming the Fed..by the '80's he had the Fed involved in some nutball conspricy with the Jewish Bankers, CIA,Rothchilds,Rockafellers,FBI and Space Gophers..his last book "Hitler,an Appreciation" (really) got him boo'ed off the world stage..
The FRB of NY received $8.4 trillion last year from the auction of Treasury securities---OFF OF THE BOOKS--without any mention in the ANNUAL REPORT TO CONGRESS or to the public ! The Ponzi scheme Fed confiscated inflict perpetual indebtedness on society and confiscate the wealth of the people while impelling the nation to national bankruptcy. Its embezzlement ! The mathematical inevitability is at RIP OFF BY THE FEDERAL RESERVE or 3W scribd dot com, message 48194264
Let's take your points in order: The Central Bank doesn't stockpile gold in the US...that's the US Treasury and it's called Fort Knox...If you're not aware of the various bank panics all through the 1800's up till 1930's redo 9th grade..No matter how much gold you have, to buy anything, must exchange for dollars.and lastly , your cap lock key is stuck....twit..
@bellcord The Federal Reserve Bank of New York is reputedly the largest gold repository in the world (though this cannot be confirmed as Swiss banks do not report their gold stocks) and holds approximately 7,000 metric tons of gold bullion ($270 billion as of July 2010), more than Fort Knox. The gold is owned by many foreign nations, central banks and international organizations. SO CENTRAL BANKS DON"T HOLD GOLD? EVEN THE CHINESE GOVERNMENT HAS TOLD THEIR PEOPLE TO BUY GOLD!
@bellcord THE TREASURY IS JUST THE TEMPORARY DEPOSITORY OF THE PRIVATELY OWNED FEDERAL RESERVE SCAM. THE TREASURY FORCIBLY TAKES MONEY VIA THE STRONG ARM I.R.S. AND USES IT TO PAY OFF THE NATIONAL DEBT CREATED FROM COMPUTER PRINTING. NOT ONE DOLLAR OF PERSONAL FEDERAL INCOME TAX GOES TO ANYTHING BUT PAYING INTEREST ON MONEY CREATED OUT OF NOTHING! PEOPLE WORK HARD THEIR WHOLE LIVES AS MODERN SLAVES TO HAVE IT TAKEN AWAY IN THIS 1913 SCHEME!
@marinello6 Yeah, it's called taxes ....they've had'em since we've had civilizations...they pay for things like your education (obvious waste),police, fire and public health, courts,commerce and National Defence....You see Son, the world had been going on for a looong time before you got here and people in that world have tried out a bunch of differant things ...like Central Banks...that's why every modern nation has one...and if that harelips your worldview then the World says 'Tough Shit !"...
@bellcord Throughout its nearly 100-year history, the Federal Reserve has presided over the near-complete destruction of the United States dollar. Since 1913 the dollar has lost over 95% of its purchasing power, aided and abetted by the Federal Reserve's loose monetary policy. How long will we as a Congress stand idly by while hard-working Americans see their savings eaten away by inflation? Only big-spending politicians and politically favored bankers benefit from inflation.
@marinello6 What absolute horseshit..If the dollar is 95% destroyed how'd you get the computer you're tapping out this drivel on?...How'd your parents purchase the house you're sitting in right now...Inflation has been at historic lows for the last 20 years...I remember in the '70's when mortgage rates were at 27%...that's inflation...How'd it end ? Paul Volker of the Fed Reserve ended it that's how..get an education Junior..
@bellcord The Dollar of 1913 is worth less than 4 CENTS today. The answer to Your Stupid Question riddled with cognitive dissonance is this...IT TOOK MANY, MANY MORE DOLLARS TO BUY ANYTHING IN 1970 or today than it did in 1913! In 1960 my parents built a house for 65K...it went up to 1.3 K and now it is down to 835K...THAT IS HOW THEY BOUGHT THEIR HOUSE! WITH INFINITE MORE DOLLARS! THEREFORE THE PURCHASING POWER DROPPED ALMOST 100% SINCE 1913 AS IF YOU DID NOT KNOW!
@bellcord In 2011, a Californian company, Ntrepid, was given a $2.76 million contract under the auspices of US Central Command for "online persona management" operation with the aim of creating 10 "fake online personas to influence net conversations and spread US propaganda". Hey BELL CORD LOL!
@bellcord The only reason that we aren't seeing those numbers in inflation today is because they simply changed the way of calculating inflation. They removed the price of gas and food. Now you tell me one single person in this country who doesn't depend on gas and food. I think you need to pay more attention to what's REALLY going on.
@bellcord THERE WAS NO FEDERAL INCOME TAX BEFORE 1913! MOST Corporations pay next to nothing and sometimes NOTHING! Furthermore...IT ALL GOES TO PAY INTEREST ON THE NATIONAL DEBT! MONEY PRINTED OUT OF THIN AIR FOR THE MILITARY, INDUSTRIAL, CONGRESSIONAL, COMPLEX! SOCIAL SECURITY IS NOT AN ENTITLEMENT> PEOPLE PUT MONEY IN THEIR WHOLE LIVES ONLY TO HAVE BANKSTERS TRY TO MAKE POLITICIANS CONVINCE PEOPLE THEY ARE NOT DESERVING OF THEIR OWN MONEY! IT IS A TRUST FUND THAT HAS BEEN RAIDED!
@bellcord The People's Republic of China announced a rise in its official holdings from 600 metric tons to 1,054 tons, making the country the world's #5 holder of gold reserves. The 600 metric ton level had remained constant since 2003. While a rise of 454 tons sounds like a lot, at $900 USD per troy ounce, this is "only" $13 billion. THIS WAS ALREADY TWO YEARS AGO!
@bellcord YOU HAVE TO BE A SOCK PUPPET. MY WEALTH IS AT STAKE BECAUSE OF THE CRIME SYNDICATE CALLED THE FEDERAL RESERVE>>>WHAT IS YOUR MOTIVE? I HATE THE FED AND I HATE THINGS LIKE YOU>>>YOU ARE FILLED WITH ASSUMPTIONS>>>AND I AIN'T NO JUNIOR!
Bellcord, save your propaganda. The banks fucking caused economic meltdown after Andrew Jackson revoked the charter of the first Central Bank of The United States. Everytime the bank is in trouble it takes it out on congress by deliberately causing catastrophe. The great depression was just them toying with us for fun.
I would eat this chicks pussy anytime, anyplace for exposing this. Especially the part about both sides of the bipartisan system being corrupt and paid off. Audit my ass, destroy that motherfucker like John F. Kennedy was planning when the Federal Reserve had him killed! Revoke it's charter!
The Federal Reserve is audited annually under the Federal Banking Agency Audit Act of 1978 (31 USCA §714).
The Federal Reserve was audited from when it was first signed in 1913, and the audits became more thorough in 1978. The Federal Reserve is presently audited by the GAO and by private accounting firms. You can review specific financial and performance information from the audits in the FRB Annual Reports.
I also debunked JFK EO 11,110 conspiracies in these comments.
In 1978 Congress passed the Federal Banking Agency Audit Act (31 USCA §714). It placed the Federal Reserve System back under the auditing authority of the GAO. The Act significantly increased the access of the GAO to the Federal Reserve Banks, the Board, and the Federal Open Market Committee (the FOMC). Since then, the GAO has conducted over 100 financial audits and performance audits of the three Federal Reserve bodies.
Some of the more important GAO performance audits of the Fed have been in the areas of bank supervision, payment systems activities, and government securities activities. In the first area, the GAO examined how well the Fed was enforcing its regulatory powers over its member banks. In 1992 it drew attention to the Fed's sluggish compliance with regulatory reforms mandated by the Foreign Bank Supervision Act of 1991.
In examining the Fed's payment system activities, the GAO made the Fed aware of how its pricing policies for such services as check-clearing affected private suppliers of check-clearing services, and also suggested ways to speed up the process of check collections. Security markets for government debt is a crucial market, and GAO performance audits of the Fed have lead to more openness in the primary dealer system, particularly concerning the disclosure of price information.
The GAO is also involved in several ongoing performance audits of the Fed such as analysis of risks and benefits of interstate banking, regulation of derivatives, and the budget of the Federal Reserve system.
Now, lets discuss exemptions to the Scope of GAO Audits:
The Government Accounting Office does not have complete access to all aspects of the Federal Reserve System. The law excludes the following areas from GAO inspections (31 USCA §714):
1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
(2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, open market operations;
(3) transactions made under the direction of the Federal Open Market Committee; or
(4) a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to items.
In 1993 Wayne D. Angell, then a member of the Board of Governors, submitted testimony before a House subcommittee on the reasons for the restrictions on GAO access. He commented,
"By excluding these areas, the Act attempts to balance the need for public accountability of the Federal Reserve
through GAO audits against the need to insulate the central bank's monetary policy functions from short-term political pressures and to ensure that foreign central banks and governmental entities can transact business in the U.S. financial markets through the Federal Reserve on a confidential basis."
(H.R. 28: "Federal Reserve Accountability Act of 1993," Hearing before the Subcommittee on Domestic Monetary Policy...[House], October 27, 1993,
U.S. Government Printing Office, Serial no. 103-86.)
In reference to a bill that would lift the constraints placed on the GAO's audit authority over the Federal Reserve, Angell stated,
"The benefits, if any, of broadening the GAO's authority into the areas of monetary policy and transactions with foreign official entities would be small.
With regard to purely financial audits, the Federal Reserve Act already requires that the Board conduct an annual financial examination of each Reserve Bank...The process of conducting financial audits is reviewed by a public accounting firm to confirm that the methods and techniques being employed are effective and that the program follows generally accepted auditing standards...Further, a private accounting firm audits the Board's balance sheet...
Finally, and more broadly, the Congress has, in effect, mandated its own review of monetary policy by requiring semiannual reports to Congress on monetary policy under the Full Employment and Balanced Growth Act of 1978...In addition, there is a vast and continuously updated body of literature and expert evaluation of U.S. monetary policy.
In this environment, the contribution that a GAO audit would make to the active public discussion of the conduct of monetary policy is not likely to outweigh the disadvantages of expanding GAO audit authority in this area."
(H.R. 28: "Federal Reserve Accountability Act of 1993," Hearing before the Subcommittee on Domestic Monetary Policy...[House], October 27, 1993, U.S. Government Printing Office, Serial no. 103-86).
For more on GAO restrictions, you can search the Government Printing Office website for GAO report T-GGD-94-44, entitled "Federal Reserve System Audits: Restrictions on GAO's Access."
Now, lets go back to one of the exceptions on GAO Audits:
1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
Bernanke was asked information regarding transactions of loans with foreign financial organizations/banks.
Bernanke replied the Federal Reserve has historically gotten the loans back and expect to get the loans payed back. Moreover, the Federal Reserve is not risking any tax payer or federal government money with these loans. The Federal Reserve is also not legally obligated to release information pertaining to who got what and how much because of the reasons explained above.
If you still want me to explain federal government control over the fed and the ownership of the fed, ask.
The Fed profited $8.4 TRILLION in 2010 off of the public records. The T-securities auctions by the Fed/Treasury do NOT show the profit that goes to the Fed. The mathematical analysis is RIP OFF BY THE FEDERAL RESERVE revised 2/27 URL 3w scribd dot com message 49040689.
Please provide me some financial documents confirming your figure of $8.4 Trillion Through referring to the FRB Annual Reports and the New York Times, its been concluded the Federal Reserve earned $82 billion in profit in 2010 (Which is the fed's most profitable year ever). The Federal Reserve then rebated $79 billion of the $82 billion to the US Treasury, so the Federal Reserve really only earned $3 billion in 2010. I also wasn't able to access the scribd page.
@SadegoGG Utube means no links. Treasurydirect dot gov click institution auction funds work work. $8.4 trillion is third bullet. The BOG Annual Report does not include ANY value from the auctions. It audits the administrative costs and the interest received. Scibd has made access difficult must be precise. 3W scibd dot com slash doc slash 49040689 or usa the republic dot com article RIP OFF BY FEDERAL RESERVE or a search engine.
"ALL money created by Treasury securities goes into the pocket of the Fed ($8.4 trillion for 2010). Not only does the Fed receive the interest (if not sold), but also the value of the security upon maturity (or by sale). Congress has temporary benefit of $1.4 trillion deficit money (until maturity) during 2010."
The unnamed author, when sourcing the $8.4 trillion dollars provides a link to the treasurydirect website.
The link goes to a page with numerous links about xx week bills and xx week bonds. No further information is provided regarding how to access the figure of $8.4 Trillion dollars. Therefore, I took a different approach to finding a figure.
Whats interesting is since the Quantitative easing policy the Feds holding of US treasuries increased from $750 billion in 2007 to just over $1.5 trillion by June 2011 (Google federal reserve bank of Cleveland Credit Easing Policy Tools).
@SadegoGG You prattle on and on and say nothing. If you had a serious desire to find the amount of $8.4 trillion Treasuries auctioned in 2010, you could research it. The link given to you treasurydirect dot gov slash instit slash auctfund slash work slash work dot htm will take you there. Bullet three. It was added after I calculated 8 pages of figures. What value do you claim?
The figure thrown around by macroeconomic professors and economists is $1.6 trillion in treasury securities. Therefore, I am suspicious the value of $8.4 trillion was made up or in some way fabricated. Now, lets look at what happens to federal reserve profits.
The gross earnings from the federal reserve's operations first are dedicated to its operating costs. In addition, the regional Federal Reserve Banks maintain capital;
@SadegoGG GET REAL. The newspaper headline of two weeks ago read the Treasury auctioned $500 billion of LONG TERM securities last MONTH. Multipy by 12 months and add in short terms. Historical auction data at TD dot gov slash RI/OFAuctions?form=histQuery bottom box will give you ALL values of ALL security issues. Learn to research. After 8 pages of calculations, $8.4 trillion for 2010 will evidence.
they retain enough earnings to have on hand a "surplus" equal to the paid-in subscriptions of their member-owners. As explained above, the Federal Reserve Banks also pay the dividend to their member banks.
What remains is all paid over into the Treasury. Over its history, the Fed has paid to the Treasury approximately 95% of its earnings. Given the fact that the Treasury, if it created money directly, would incur costs in its administration,
@SadegoGG You choose to completely ignore the trillions handled from the auctions. There is NO documentation as to its receipt nor to its destination. The audit for the REPORT TO CONGRESS is conducted according to guidelines established by the Fed. The Fed prevents reports on auction transactions. There is no evidence the Fed did not retain the $8.4 from the 2010 auctions as profit. All profits of the Fed belong to the U.S. Concealment of profit by bank accounting is called embezzlement.
Find a document of those trillions. I told you when your website with an unnamed author that doesn't provide any contact information introduced the figure of $8.4 trillion he provided a link to a website that didn't include a figure of $8.4 trillion. Therefore, I took an alternative route to find the t-securities held by the Fed. According to the Cleveland federal reserve, the $8.4 trillion figure is false.
Moreover, here are the 4 restrictions to GAO Audits (31 USCA §714):
(1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
(2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, open market operations;
(3) transactions made under the direction of the Federal Open Market Committee; or
(4) a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to items.
Your author also suggests the debt is impossible to pay off because there is interest on every dollar that is created. However, this money is reimbursed to the US Treasury after the federal reserve pays its expenses. Its virtually interest free money. The author has virtually no understanding of money creation
the revenue and cost effects of having the Federal Reserve issue are about the same as having the Treasury do so.
In addition, the price of Federal Reserve Bank stock is fixed at $100 per share. It neither appreciates nor depreciates in value. That means that any growth in the capital of the Federal Reserve Banks does not belong to the Banks "owners," but to the Government which would get the accumulated value of retained earnings if the system were ever dissolved.
To the extent that Fed retains earnings for the purpose of maintaining its capital at a specifies proportion of its liabilities, there is no adverse effect on the governments receipts and outlays. Holding earnings means they are invested in Treasury securities, with the interest on the securities remitted to the Treasury. If the Fed did not retain the earnings, the funds would have passed to the Treasury,
which would not issue that amount of securities, and thereby save an identical amount of interest. The formal procedure makes no difference to reality, just to which ledger-book column the numbers are placed in.
Any of you genius every read history ? Without the Fed bank panics would destroy peoples life savings about every 4 to 8 years...When economic hardtimes hit the President and Congress had nothing to fight it with..That's why EVERY modern industrial Nation has a Central Bank ...I'm not sayin' you have to actually Wake Up I'm just sayin' pull your head outta yer ass and don't fall for these horseshit artists calling for the end of the FED.,.
@bellcord Do you really believe that? When I was a kid, 4 silver quarters were worth a dollar in 1964. Now they
are worth $30 dollars. In 47 years that is 3000% percent INFLATION in Silver alone! You do not call that destroying savings. PULL YOUR HEAD OUT OF YOUR ASS! There are millions of other examples. My mother was born into a Germany where in 1923 if you did not have gold or silver, you lost everything. Go argue with my Oma und Opa about your academic BULLSHIT!
This has been flagged as spam show
And by the way the FED doesn’t actually print money (the Treasury does that) But the Fed does control the “monetary base,” the sum of bank reserves and currency in circulation.So when people talk about Mr. Bernanke printing money,what they really mean is that the Fed expanded the monetary base.So Ron Paul could use Big Goverment to FORCE to abandon Private Fed,but Treasury could flood the US with Fiat Currence throw other agencies.
zsylvana 1 month ago
5 months before he was murdered (assassinated), June 4, 1963
John F. Kennedy
vs.
The Federal Reserve
President John F.Kennedy,
The Federal Reserve
And Executive Order 11110
Nezello 2 months ago
(((HOLY SHIT))) 9/11 victims’ families made a TV commercial asking for our help!!
WHAT THE HELL IS WRONG WITH THESE FAMILY MEMBERS QUESTIONING THE GOVERNMENTS OWN 9/11 CONSPIRACY STORY:
(((2 planes knock down (((3))) skyscrapers (((molten metal furnaces' underneath all 3 trade center buildings of debris rubble for 6 weeks))).
WTC 7 — Remember Building 7 Commercial (9/11 Truth)
/watch?v=7TT016ORlxU
Nezello 2 months ago
DUMB BLONDE KNOWS 9/11 WAS AN (INSIDE JOB)...
/watch?v=mtlkIfSnyDk
Nezello 2 months ago
Who owns the Federal Reserve?
/watch?v=bLCHWhmyn8w
Nezello 2 months ago
@Nezello The government owns the Fed.
jimmyrtle 2 months ago
@jimmyrtle NO FAG THE ILLEGAL FED OWNS THE GOVERNMENT. ANOTHER ASS BACKWARDS TROLL COMMENT...
Nezello 2 months ago
@Nezello Holograms? Missiles?
jimmyrtle 2 months ago
@jimmyrtle Your mom, 5 black cocks or 10?
Nezello 2 months ago
@Nezello You're projecting again.
jimmyrtle 2 months ago
This has been flagged as spam show
@jimmyrtle Your still a gay TROLL...
Nezello 2 months ago
CAN YOU SAY 9/11 WAS AN INSIDE JOB AFTER HEARING GEORGE BUSH?
Bush Caught Lying About September 11th
/watch?v=Sm73wOuPL60
Nezello 2 months ago
This has been flagged as spam show
(((HOLY SHIT))) 9/11 victims’ families made a TV commercial asking for our help!!
WHAT THE HELL IS WRONG WITH THESE FAMILY MEMBERS QUESTIONING THE GOVERNMENTS OWN 9/11 CONSPIRACY STORY:
(((2 planes knock down (((3))) skyscrapers (((molten metal furnaces' underneath all 3 trade center buildings of debris rubble for 6 weeks))).
WTC 7 — Remember Building 7 Commercial (9/11 Truth)
/watch?v=7TT016ORlxU
Nezello 2 months ago
Comment removed
Nezello 2 months ago
"GOLD" NOT OIL CAUSE OF US UNLAWFULLY ATTACKING LIBYA!! Muammar Al-Qaddafi's plan to introduce the gold dinar, a single African currency made from gold, a true sharing of the wealth. THE US HAD TO STOP HIM FROM CREATING LIBYA’S OWN CURRENCY!!!
/watch?v=O35_Ai6EsMU
Nezello 2 months ago
9/11 victims’ families (TV commercial) asking for our help!!
WTC 7 — Remember Building 7 Commercial (9/11 Truth)
/watch?v=7TT016ORlxU
Nezello 2 months ago
@Nezello Wow, your idiocy extends to Trutherism.
Shocking!
jimmyrtle 2 months ago
Comment removed
Nezello 2 months ago
This has been flagged as spam show
@jimmyrtle Your dad wishes he would have rubbed one out instead....
EASILY MAKE AN ASS OUT OF TROLLS WATCH: Everything you ever wanted to know about the 9/11 conspiracy theory in under 5 minutes.
9/11: A Conspiracy Theory
/watch?v=yuC_4mGTs98
Nezello 2 months ago
@Nezello Your stupidity, it burns!!!
jimmyrtle 2 months ago
Comment removed
Nezello 2 months ago
This has been flagged as spam show
@jimmyrtle YOU CANNOT STOP THAT YOU ARE A IN THE WAY PERSON, NO REASON TO EXIST, WASTE OF SPACE, PUKE ASS, TROLL...
I FORGOT MORE THEN YOU WILL EVER KNOW... LMAO
OH MY GOD!! Geraldo Rivera now says you are NOT A NUT to know 9/11
was an inside job!!!!!!!!!
Geraldo Rivera Does 911 Truth Segment About Building 7
/watch?v=kP0Hs-v-uJ0
Nezello 2 months ago
@Nezello Yeah, I'm sure you forgot a lot. LMAO.
Clown.
jimmyrtle 2 months ago
@jimmyrtle I already made you my bitch, I destroyed your TROLL PUNK ASS, I'm still laughing my fucking ass off AT YOU TROLL!!!
EASILY MAKE AN ASS OUT OF TROLLS WATCH: Everything you ever wanted to know about the 9/11 conspiracy theory in under 5 minutes.
9/11: A Conspiracy Theory
/watch?v=yuC_4mGTs98
Nezello 2 months ago
@Nezello Was it remote control planes that flew into the WTC?
Or were they holograms?
jimmyrtle 2 months ago
This has been flagged as spam show
@jimmyrtle EATA TROLL...
CAN YOU SAY 9/11 WAS AN INSIDE JOB AFTER HEARING GEORGE BUSH?
Bush Caught Lying About September 11th
Nezello 2 months ago
Alan Grayson: "Which Foreigners Got the Fed's $500,000,000,000?" Bernanke: "I Don't Know."
/watch?v=n0NYBTkE1yQ
Nezello 2 months ago
@Nezello The foreign central banks got the money.
And paid it back.
jimmyrtle 2 months ago
@jimmyrtle Oh yes and the tooth fairy is real too!!
Nezello 2 months ago
Fed = private
ae911truth.or g
dxvxvx 3 months ago
"GOLD" NOT OIL CAUSE OF US UNLAWFULLY ATTACKING LIBYA!! Muammar Al-Qaddafi's plan to introduce the gold dinar, a single African currency made from gold, a true sharing of the wealth. THE US HAD TO STOP HIM CREATING LIBYA’S OWN CURRENCY!!!
/watch?v=O35_Ai6EsMU
THE QADDAFI NO ONE WILL TELL YOU ABOUT
pastebin(DOT)com/JMX9NvYH
Nezello 3 months ago
This has been flagged as spam show
/watch?v=RaH-lGafwtE
JFK TRIED TO WARN THE US ABOUT A MONOLITHIC CONSPIRACY AROUND THE WORLD WHERE HE ASKED (IF NOT BEGGED) THE MEDIA TO HELP ALERT THE AMERICAN PEOPLE. THE MEDIA DID NOT ALERT THE AMERICAN PEOPLE. IN FACT, YOU(WE) WERE NOT TAUGHT ABOUT THIS BEYOND EPIC CHILLING SPEECH IN SCHOOL, THE MEDIA, OR ANYWHERE ELSE. THE UNBELIEVABLE EVIL STILL EXISTS TODAY. TELL EVERYONE YOU KNOW, KEEP TALKING...
Nezello 3 months ago
This has been flagged as spam show
RON PAUL IN 2012
ROCKETMISSILE1234 3 months ago 3
End Money Creation by privately owned banks and end Fractional Reserve Banking. Money should only be issued by governments in order to control the quantity.
Governments should issue their own money; not borrow from privately owned banks. Otherwise we are doomed to a world ruled by a plutocracy. A gold standard will not stop fractional lending.
Even Goldman was leveraged over 300 to one.
The leverage by banks was way beyond the standard 10 to 1 which should not even be.
Common Good!
marinello6 4 months ago
@marinello6 "End Money Creation by privately owned banks and end Fractional Reserve Banking. Money should only be issued by governments in order to control the quantity"
Ever have a mortgage or car loan? You created money. Shhhhh......your secret is safe with me.
jimmyrtle 3 months ago
@jimmyrtle I was mainly speaking of the Federal Reserve and not the government printing and creating our money. Banks should get out of the business of government in my opinion.
marinello6 3 months ago
@marinello6 When you borrow from a bank, you create money. Without the Fed's help.
jimmyrtle 3 months ago
@jimmyrtle Also, the Fed should not be able to charge interest. I really do not think that the Fed should even exist.
marinello6 3 months ago
@marinello6 What does the Fed do with their ill-gotten gains?
jimmyrtle 3 months ago
@jimmyrtle You can believe what they tell you or know that what is good for the Fed is good for the private owners (shareholders) that make up the consortium. There are a variety of opinions. You really should just google it. They certainly debase our currency. That is the real reason that food, fuel etc. is high. Since when should a government borrow money from a private cartel at interest? Read the various opinions which as you know are all over the internet.
marinello6 3 months ago
@marinello6 Private shareholders? How much did they earn from the Fed last year?
Borrowed at interest? Shouldn't the government pay interest on borrowings?
You admit they get the money back, so why the whining?
jimmyrtle 3 months ago
@jimmyrtle Because each year, and I am 56 years old, I have seen the purchasing power of my money and others destroyed. My point is that government should not borrow from banks. We did without central banking for long periods of time and the panics and depressions that central banking was supposed to prevent has not happened. We all want a stable form of purchasing power. People and even the super rich are disgusted and scared, that is why gold is rising.
marinello6 3 months ago
@marinello6 Whether the Treasury borrows from a bank or from you, there is zero difference.
Panics and recessions are less frequent and less severe in the 98 years after the Fed as compared to the 98 years before.
jimmyrtle 3 months ago
@jimmyrtle Federal Reserve Notes, the currency we use in the United States, are evidence of the debt of the U.S. government to the Federal Reserve. The central bank charges the government interest for this currency, thereby diverting billions of dollars from the Treasury that could be used for other things. The government could print its own money and avoid the Fed's interest.
You can believe this or...
marinello6 3 months ago
@marinello6 The Treasury doesn't borrow FRNs, so what's your point?
If they get the interest back, how is it diverted?
jimmyrtle 3 months ago
@jimmyrtle You ask legitimate questions. I wish I was an insider so that I could tell you exactly who is profiting. I do not know how often money is paid back to the Treasury. Even if it is once a year, the currency is debased and interest can be made on money until it is paid back. You maybe can enlighten me as to what you know or believe.
marinello6 3 months ago
@marinello6 The Treasury received around $80 billion last year from the Fed.
The "shareholders" received about $1.6 billion.
Payments to the Treasury are made monthly.
jimmyrtle 3 months ago
@jimmyrtle So they do keep something? What is a good site to read about this? Thanks for the response.
marinello6 3 months ago
@marinello6 Yes, the "shareholders" get a 6% dividend on their capital invested.
I'd go right to the Federal Reserve site.
All the info with none of the conspiracy BS.
jimmyrtle 3 months ago
@jimmyrtle Thanks...
marinello6 2 months ago
@jimmyrtle Since 1913 (98 years) we all have been enslaved with illegal income taxes!! There is NO LAW we have to pay them. Along with illegal income taxes The Federal Reserve is a SCAM created by foreign bankers on U.S. soil which is NOT part of the U.S. Federal Government!!
Guess what else? JFK ended The Federal Reserve 5 months before his murder Executive Order 11110
The President Who Told The TRUTH
/watch?v=RaH-lGafwtE
Nezello 2 months ago
@Nezello The Fed is part of the government.
EO 11110 did nothing to the Fed.
jimmyrtle 2 months ago
Comment removed
Nezello 2 months ago
@jimmyrtle MORON, after JKF enacted Executive Order 11110 (actually still in effect today) the U.S. started printed it's own money for the 1st time sine 1913 ending the stranglehold the Fed has had on the country now going a 100 years (CRYSTAL CLEAR IN THIS VIDEO). After JFK'S head was nearly blown off the fed resumed their EVIL. The Fed HAS NEVER BEEN part of the U.S govt THEY ARE ALL ONE BIG SCAM!!
Search Google video: Aaron Russo's America: Freedom to Fascism
Nezello 2 months ago
@Nezello EO 11110 doesn't do anything to the Fed. The Fed continued to produce FRNs while it was in effect and now that it's no longer in effect, the Fed still exists and still prints FRNs.
The Fed turns over more than 90% of their earnings to the Treasury every year.
Why would an evil, foreign bank do that?
Let me know if you ever stumble over a fact.
And you should try not paying that "illegal income tax"
jimmyrtle 2 months ago
Comment removed
Nezello 2 months ago
This has been flagged as spam show
@jimmyrtle Of course federal reserve notes were still in circulation while JFK ordered the U.S. to start printing our own money, JKF was filling the market with the new notes to overtake the federal reserve notes. The fed does not turns over money to the Treasury it gets divided among the anonymous owners of the fed.
/watch?v=n0NYBTkE1yQ
Nezello 2 months ago
@Nezello The Fed turned over almost $80 billion to the Treasury last year.
The "anonymous" owners only received about $1.6 billion.
jimmyrtle 2 months ago
@jimmyrtle and JFK was killed with a MAGIC bullet!!! Keep on TROLLIN Jim-Bob keep on TROLLIN...
Nezello 2 months ago
@Nezello I heard that Greenspan was on the grassy knoll. LOL!
jimmyrtle 2 months ago
@jimmyrtle Yeah he was getting a rim job in the bushes from your mom...
Nezello 2 months ago
@jimmyrtle You can believe this...
The Federal Reserve rebates its net earnings to the Treasury every year. Consequently, the interest the Treasury pays to the Fed is returned, so the money borrowed from the Fed has no net interest obligation for the Treasury. The government could print its own currency independent of the Fed, but there would be no effective safeguards against abuse of this power for political gain.
marinello6 3 months ago
@jimmyrtle Nothing is done for the benefit of the average man or woman in our system. Everything is done for the benefit of corporations, banks being corporations which are global. To be more blunt. No political leader, corporation-country etc., gives a damn about the likes of you or I. They only care about how they can take from you so that they have more and you and I have less.
marinello6 3 months ago
@marinello6 The average man doesn't benefit from a working banking system?
jimmyrtle 3 months ago
This has been flagged as spam show
great video i will pass it on
comebigarestayathome 4 months ago 2
This has been flagged as spam show
I know they are mistaken for a FACT!
ProHumanRights 4 months ago
Your main point is incorrect in that banking can exist without a fractional reserve system. The rest of your posts were just you explaining how fractional reserve banking works, which I was not disagreeing with. My point is that money creation is not necessary for a banking system to function. What more do you want me to say? Youre also continuously ignoring the detrimental effects inflation and false interest rate bubbles from money creation have on an economy.
ACDC7369 6 months ago
JFK TRIED TO WARN THE U.S. ABOUT A MONOLITHIC CONSPIRACY AROUND THE WORLD WHERE HE ASKED (IF NOT BEGGED) THE MEDIA TO HELP ALERT THE AMERICAN PEOPLE. THE MEDIA DID NOT ALERT THE AMERICAN PEOPLE. IN FACT, YOU(WE) WERE NOT TAUGHT ABOUT THIS BEYOND EPIC JFK CHILLING SPEECH IN SCHOOL, THE MEDIA, OR ANYWHERE ELSE. THE EVIL IS EXPLODING AROUND US TODAY.
The President Who Told The TRUTH
/watch?v=RaH-lGafwtE
Nezello 6 months ago
@Nezello
Presidential Executive Order 11,110 is quite infamous among conspiracy buffs. Jim Marrs, author of Crossfire: The Plot that Killed Kennedy, writes that the order instructs the Treasury secretary to issue about $4.2 billion in silver certificates as a form of currency in place of Federal Reserve Notes. Written by John F. Kennedy, Marrs also speculates this order was part of a larger plan by Kennedy to reduce the influence of the Federal Reserve by giving
SadegoGG 6 months ago
@Nezello
the Treasury more power to issue currency. The order was signed June 4, 1963. A few months later, of course, Kennedy was killed, and conspiracy theorists hypothesize a link between the murder and E.O. 11,110. They argue that the Federal Reserve was somehow involved in the assassination to protect its power over monetary policy.
The executive order modifies a pre-existing order issued by Harry Truman in 1951. E.O. 10,289 states:
SadegoGG 6 months ago
@Nezello
The Secretary of the Treasury is hereby designated and empowered to perform the following-described functions of the President without the approval, ratification, or other action of the President..." The order then lists tasks (a) through (h) which the Treasurer can now do without bothering the President. None of the powers assigned to the Treasury in E.O. 10,289 relate to money or to monetary policy. Kennedy's E.O. 11,110 then instructs that:
SadegoGG 6 months ago
@Nezello SECTION 1. Executive Order No. 10289 of September 9, 1951, as amended, is hereby further amended (a) By adding at the end of paragraph 1 thereof the following subparagraph (j): '(j) The authority vested in the President by paragraph (b) of section 43 of the Act of May 12, 1933, as amended (31 U.S.C. 821(b)), to issue silver certificates against any silver bullion, silver, or standard silver dollars in the
SadegoGG 6 months ago
@Nezello
Treasury not then held for redemption of an outstanding silver certificates, to prescribe the denominations of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption,' and (b) By revoking subparagraphs (b) and (c) of paragraph 2 thereof.
SECTION 2. The amendments made by this Order shall not affect any act done,
SadegoGG 6 months ago
@Nezello
or any right accruing or accrued or any suit or proceeding had or commenced in any civil or criminal cause prior to the date of this Order but all such liabilities shall continue anymay be enforced as if said amendments had not been made.
John F. Kennedy, THE WHITE HOUSE, June 4, 1963.
To understand exactly what Kennedy's order was trying to do, we must understand the purpose of the legislation which gave the order its underlying authority.
SadegoGG 6 months ago
@Nezello
The Agricultural Adjustment Act of 1933 (ch. 25, 48 Stat 51) to which Kennedy refers permits the President to issue silver certificates in various denominations (mostly $1, $2, $5, and $10) and in any total volume so long as the Treasury has enough silver on hand to redeem the certificates for a specific quantity and fineness of silver and that the total volume of such currency does not exceed $3 billion.
SadegoGG 6 months ago
@Nezello
The Silver Purchase Act of 1934 (ch. 674,48 Stat 1178) also grants this power to the Treasury Secretary subject to similar limitations. Nowhere in the text of the order is a quantity of money mentioned, so it is unclear how Marrs arrived at his $4.2 billion figure. Moreover, the President could not have authorized such a large issue because it would have exceeded the statutory limit.
SadegoGG 6 months ago
@Nezello
As economic activity grew in the fifties and sixties, the public demand for low denomination currency grew, increasing the Treasury's need for silver to back additional certificate issues and to mint new coins (dimes, quarters, half-dollars). However, during the late fifties the price of silver began to rise and reached the point that the market value of the silver contained in the coins and backing the certificates was greater than the face value of the money itself.
SadegoGG 6 months ago
This has been flagged as spam show
@Nezello
To conserve the Treasury's silver needs, the Silver Purchase Act and related measures were repealed by Congress in 1963 with Public Law 88-36. Following the repeal, only the President could authorize new silver certificate issues, and no longer the Treasury Secretary. The law, signed by Kennedy himself, also permits the Federal Reserve to issue small denomination bills to replace the outgoing silver certificates
SadegoGG 6 months ago
This has been flagged as spam show
@Nezello
(prior to the act, the Fed could only issue Federal Reserve Notes in larger denominations). The Treasury's shrinking silver stock could then be used to mint coins only and not have to back currency. The repeal left only the President with the authority to issue silver certificates, however it did permit him to delegate this authority. E.O. 11,110 does this by transferring the authority from the President to the Treasury Secretary.
SadegoGG 6 months ago
@Nezello
E.O. 11,110 did not create authority to issue new silver certificates, it only affected who could give the order. The purpose of the order was to facilitate the reduction of certificates in circulation, not to increase them. In October 1964 the Treasury ceased issuing them entirely. The Coinage Act of 1965 (PL 89-81) ended the practice of using silver in most U.S. coins, and in 1968 Congress ended the redeemability of silver certificates (PL 90-29).
SadegoGG 6 months ago
@Nezello
E.O. 11,110 was never reversed by President Johnson and remained on the books until 1987 when there was a general cleaning-up of executive orders (E.O. 12,608, 9/9/87). However, by this time the remaining legislative authority behind E.O. 11,110 had been repealed by Congress with PL 97-258 in 1982.
In summary, E.O. 11,110 did not create new authority to issue additional silver certificates.
SadegoGG 6 months ago
@Nezello
In fact, its intention was to ease the process for their removal so that small denomination Federal Reserve Notes could replace them in accordance with a law Kennedy himself signed. If Kennedy had really sought to reduce Federal Reserve power, then why did he sign a bill that gave the Fed still more power?
Marrs also makes some other factual errors in his conspiracy tale that suggest he is not very familiar with the Federal Reserve or the financial system.
SadegoGG 6 months ago
@SadegoGG June 4th 1963 JFK set into motion the U.S. printing our money for the 1st time since 1913. There are those who also say JKF insisted upon in riding in a convertible limousine in Dallas 11/22/1963. Well since his head was blown off we can't exactly ask him how did you like the car. So his recorded words of warning the U.S. and the world are more prolific of what JFK was trying to do than anything else.
Nezello 6 months ago
@Nezello
Please provide the legislation you are referring to from June 4th, 1963. Also, provide documentation of JFK warning about whatever you are claiming he was warning the US about.
SadegoGG 6 months ago
Comment removed
Nezello 6 months ago
This has been flagged as spam show
@SadegoGG I do not debate TROLLS or willfully MORONIC dip-shits who cannot see links provided that reference whatever the author is stating. I JUST SLAM FUCKING DUNK PEOPLE WHO OPEN THEIR MOUTHS WHO HAVE NO FUCKING CLUE WHAT THEY ARE TALKING ABOUT OR ARE TROLLS... IN OTHER WORDS TROLL OR NOT I DESTROYED YOU TWICE...
The President Who Told The TRUTH
/watch?v=RaH-lGafwtE
President John F.Kennedy,
The Federal Reserve
And Executive Order 11110
Nezello 6 months ago
This has been flagged as spam show
@Nezello
He writes that a source of tension between the Federal Reserve and the Kennedy Administration was the Treasury's desire to allow banks to underwrite state and local government bonds, thereby weakening the "dominant" Federal Reserve banks. However, such a move, which was later permitted by Congress, would not have affected the Federal Reserve system because it had never been involved in underwriting bond issues.
SadegoGG 6 months ago
This has been flagged as spam show
@Nezello
Marrs also claims that Kennedy signed a bill that changed the backing of small denomination currency from silver to gold to "add strength to the weakened U.S. currency." This is completely false. U.S. currency has not been on the gold standard since 1934, and silver certificates, as their name suggests, had never been redeemable in anything but silver. In addition, U.S. currency was not "weak" during Kennedy's time:
SadegoGG 6 months ago
This has been flagged as spam show
@Nezello
There had not been any significant inflation since the late forties, and the exchange rate value of the dollar was fixed according to the Bretton Woods agreement.
In the introduction to his book, Marrs advises the reader not to trust his book. This appears to be good advice.
References:
1. Marrs, Jim (1989), Crossfire: The Plot that Killed Kennedy, New York: Carroll & Graf Publishers.
SadegoGG 6 months ago
This has been flagged as spam show
@Nezello
2. Woodward, G. Thomas (1996), "Money and the Federal Reserve System: Myth and Reality," Congressional Research Service.
SadegoGG 6 months ago
This has been flagged as spam show
ISRAEL aka "AIPAC" aka "ADL" aka "RUSSIANS JEWS MAFIA" aka "ALL THE CRAZY FUNKY CULTS FROM HELL" aka "THE SCIENTOLOGY" aka "THE MKULTRA" aka 101 aka 404 aka "THE CONTROL OF THE INTERNET" aka "CONTROLLER AND MANIPULATING THE WHITE HOUSE" aka "OSEH", "SKULL TO VOICE", "DEW"-"THE MOST LUNATIC CRAZY S.N OF A B..CH"- "ISRAEL"
SuperBingo21 7 months ago
This has been flagged as spam show
The "Insiders" such as Kissinger knew that real estate would collapse 5 years later. They had to destroy as much Commercial Property starting with Building 7 and the Trade Towers otherwise they would lose money!
Don't people See the link between the "Known to Come" Real Estate Collapse" due to the internet, outsourcing, the Lack of Need of People to Fill the Desks of Commercial Property and the DESTRUCTION of Commercial Property in the West?
marinello6 7 months ago
Great video...Everyone watching this should send it to 10 friends. The fed needs to be audited and we need to place reps in our Gov with the guts to do it. Look at what the fed has done to our economy over the last 20 years. Greenspan left interest rates so darn low that it basically screwed up the system. The tarp bailout should have never happened. Tell me, how would your life be affected if GS went under?
1933goudey 7 months ago
@1933goudey
The Federal Reserve is audited annually under the Federal Banking Agency Audit Act of 1978 (31 USCA §714).
The Federal Reserve was audited from when it was first signed in 1913, and the audits became more thorough in 1978. The Federal Reserve is presently audited by the GAO and by private accounting firms. You can review specific financial and performance information from the audits in the FRB Annual Reports.
SadegoGG 6 months ago
Attention Obamatons, and mindless Republicans: Your candidates are cruel hoaxes. Please let go of the false left right paradigm. Grow up. We need to overthrow the establishment institutions such as the Fed. Neither of the "mainstream" candidates have the guts to face this monster.
bamainatlanta 8 months ago
Comment removed
Nezello 8 months ago
@Nezello It finds it okay for me .... if you just search for "Who Really Controls America" ...
Nautilus1972 6 months ago
Ron Paul and Dennis Kucinich together. Google that. Both are principled gentlemen. TOGETHER THEY CAN WIN!
Register to vote as a Republican, or he CANNOT win the Republican nomination, because YOU will NOT be eligible to vote for him in the PRIMARY! You can still vote however you want in the final election.
crogromphulous 8 months ago
@crogromphulous Ron Paul would be assassinated by a crazy lone gunman firing magic bullets if he ever tried to take on the Fed and mess with the program like JFK. Nobody has tried it since, they had to shoot Bobby because he thought the same way. Notice how Ron Paul never suggest the obvious - repealing the Federal Reserve Act. He's frightened.
Nautilus1972 6 months ago
@Nautilus1972
I provided a debunk to the JFK assassination to another poster, I would challenge you to read it. Just click "See All" comments and search my username and you will find the series of posts regarding the JFK assassination and EO 11,110
SadegoGG 6 months ago
why is did cash cab bring me to this??
kingston1138 8 months ago
@kingston1138 Moron you clicked on the link!!
TheCartman1080 8 months ago
@kingston1138 Because you are blinded by simple entertaiment so you never see the EVIL...
Nezello 8 months ago
MORE SIMPLISTIC NOTIONS.
MrSmackdown100 8 months ago
It's money magic, manipulation, fixing and sleight of hand. These are the money masters. They control the printing and scarcity of money on immense scales. The very idea that the money masters at the Fed didn't long before anticipate the crash of '08 is not just laughable -- it's absurd.
They know exactly what they're doing, and the groundwork for the crash had being laid for years.
And they pulled it off -- the largest legalized robbery in human history.
MichaelRMcCoy 9 months ago
This compilation of videos "UFO Disclosure, Revelations & the 2012 Connection" ON
YOUTUBE is a revelation of major lies and with held knowledge about life beyond Earth.
The footage contains statements from astronauts, American presidents, military personnel,
politicians plus credible news footage regarding awareness of life beyond Earth along with
it's current and ongoing presence which is being hidden from the public + more.
Freedomloveandtruth 9 months ago
This is crap put out by the followers of Eustace Mullins who starting in the 1950's put out tracts,articles and books condeming the Fed..by the '80's he had the Fed involved in some nutball conspricy with the Jewish Bankers, CIA,Rothchilds,Rockafellers,FBI and Space Gophers..his last book "Hitler,an Appreciation" (really) got him boo'ed off the world stage..
bellcord 9 months ago
What horseshit..
bellcord 9 months ago
Hi I´m Ben Bernanke and I print Money as much as I want
Salihovicable 9 months ago
The FRB of NY received $8.4 trillion last year from the auction of Treasury securities---OFF OF THE BOOKS--without any mention in the ANNUAL REPORT TO CONGRESS or to the public ! The Ponzi scheme Fed confiscated inflict perpetual indebtedness on society and confiscate the wealth of the people while impelling the nation to national bankruptcy. Its embezzlement ! The mathematical inevitability is at RIP OFF BY THE FEDERAL RESERVE or 3W scribd dot com, message 48194264
oldereb38 9 months ago
A sock puppet is an online identity used for purposes of deception within an online community.
marinello6 10 months ago
ROADS ARE PAID FOR BY THE GASOLINE TAX ON THE FEDERAL AND LOCAL LEVELS>>>LOOK IT UP! FEDERAL INCOME TAXES ARE A SCAM!
marinello6 10 months ago
Let's take your points in order: The Central Bank doesn't stockpile gold in the US...that's the US Treasury and it's called Fort Knox...If you're not aware of the various bank panics all through the 1800's up till 1930's redo 9th grade..No matter how much gold you have, to buy anything, must exchange for dollars.and lastly , your cap lock key is stuck....twit..
bellcord 10 months ago
@bellcord The Federal Reserve Bank of New York is reputedly the largest gold repository in the world (though this cannot be confirmed as Swiss banks do not report their gold stocks) and holds approximately 7,000 metric tons of gold bullion ($270 billion as of July 2010), more than Fort Knox. The gold is owned by many foreign nations, central banks and international organizations. SO CENTRAL BANKS DON"T HOLD GOLD? EVEN THE CHINESE GOVERNMENT HAS TOLD THEIR PEOPLE TO BUY GOLD!
marinello6 10 months ago
@bellcord THE TREASURY IS JUST THE TEMPORARY DEPOSITORY OF THE PRIVATELY OWNED FEDERAL RESERVE SCAM. THE TREASURY FORCIBLY TAKES MONEY VIA THE STRONG ARM I.R.S. AND USES IT TO PAY OFF THE NATIONAL DEBT CREATED FROM COMPUTER PRINTING. NOT ONE DOLLAR OF PERSONAL FEDERAL INCOME TAX GOES TO ANYTHING BUT PAYING INTEREST ON MONEY CREATED OUT OF NOTHING! PEOPLE WORK HARD THEIR WHOLE LIVES AS MODERN SLAVES TO HAVE IT TAKEN AWAY IN THIS 1913 SCHEME!
marinello6 10 months ago
@marinello6 Yeah, it's called taxes ....they've had'em since we've had civilizations...they pay for things like your education (obvious waste),police, fire and public health, courts,commerce and National Defence....You see Son, the world had been going on for a looong time before you got here and people in that world have tried out a bunch of differant things ...like Central Banks...that's why every modern nation has one...and if that harelips your worldview then the World says 'Tough Shit !"...
bellcord 10 months ago
@bellcord Most of the things that you mention are paid for by property taxes on the local level and state taxes. Here, argue with Ron Paul.
marinello6 10 months ago
@bellcord Throughout its nearly 100-year history, the Federal Reserve has presided over the near-complete destruction of the United States dollar. Since 1913 the dollar has lost over 95% of its purchasing power, aided and abetted by the Federal Reserve's loose monetary policy. How long will we as a Congress stand idly by while hard-working Americans see their savings eaten away by inflation? Only big-spending politicians and politically favored bankers benefit from inflation.
marinello6 10 months ago
@marinello6 What absolute horseshit..If the dollar is 95% destroyed how'd you get the computer you're tapping out this drivel on?...How'd your parents purchase the house you're sitting in right now...Inflation has been at historic lows for the last 20 years...I remember in the '70's when mortgage rates were at 27%...that's inflation...How'd it end ? Paul Volker of the Fed Reserve ended it that's how..get an education Junior..
bellcord 10 months ago
@bellcord The Dollar of 1913 is worth less than 4 CENTS today. The answer to Your Stupid Question riddled with cognitive dissonance is this...IT TOOK MANY, MANY MORE DOLLARS TO BUY ANYTHING IN 1970 or today than it did in 1913! In 1960 my parents built a house for 65K...it went up to 1.3 K and now it is down to 835K...THAT IS HOW THEY BOUGHT THEIR HOUSE! WITH INFINITE MORE DOLLARS! THEREFORE THE PURCHASING POWER DROPPED ALMOST 100% SINCE 1913 AS IF YOU DID NOT KNOW!
marinello6 10 months ago
@bellcord In 2011, a Californian company, Ntrepid, was given a $2.76 million contract under the auspices of US Central Command for "online persona management" operation with the aim of creating 10 "fake online personas to influence net conversations and spread US propaganda". Hey BELL CORD LOL!
I DON'T GET PAID FOR THIS>>>YOU DO!
marinello6 10 months ago
@bellcord The only reason that we aren't seeing those numbers in inflation today is because they simply changed the way of calculating inflation. They removed the price of gas and food. Now you tell me one single person in this country who doesn't depend on gas and food. I think you need to pay more attention to what's REALLY going on.
MrsSarb 9 months ago
@bellcord THERE WAS NO FEDERAL INCOME TAX BEFORE 1913! MOST Corporations pay next to nothing and sometimes NOTHING! Furthermore...IT ALL GOES TO PAY INTEREST ON THE NATIONAL DEBT! MONEY PRINTED OUT OF THIN AIR FOR THE MILITARY, INDUSTRIAL, CONGRESSIONAL, COMPLEX! SOCIAL SECURITY IS NOT AN ENTITLEMENT> PEOPLE PUT MONEY IN THEIR WHOLE LIVES ONLY TO HAVE BANKSTERS TRY TO MAKE POLITICIANS CONVINCE PEOPLE THEY ARE NOT DESERVING OF THEIR OWN MONEY! IT IS A TRUST FUND THAT HAS BEEN RAIDED!
marinello6 10 months ago
@bellcord Ad hominem doesn't fly with me! You are also being PEDANTIC!
marinello6 10 months ago
@marinello6 Okay Junior, in promulgating your esoteric conjigations and articulating your superfacial semantics beware of plodutious pondoriocites
bellcord 10 months ago
@bellcord The People's Republic of China announced a rise in its official holdings from 600 metric tons to 1,054 tons, making the country the world's #5 holder of gold reserves. The 600 metric ton level had remained constant since 2003. While a rise of 454 tons sounds like a lot, at $900 USD per troy ounce, this is "only" $13 billion. THIS WAS ALREADY TWO YEARS AGO!
marinello6 10 months ago
@bellcord YOU MUST EXCHANGE IT FOR DOLLARS! YEAH>>>MORE DOLLARS THAN IF YOU DID NOT HOLD GOLD UNLESS YOU ARE DOING A SHORT TERM TRADE!
marinello6 10 months ago
@bellcord YOU HAVE TO BE A SOCK PUPPET. MY WEALTH IS AT STAKE BECAUSE OF THE CRIME SYNDICATE CALLED THE FEDERAL RESERVE>>>WHAT IS YOUR MOTIVE? I HATE THE FED AND I HATE THINGS LIKE YOU>>>YOU ARE FILLED WITH ASSUMPTIONS>>>AND I AIN'T NO JUNIOR!
marinello6 10 months ago
IGNORE BELLCORD>>>IT IS A CLASSIC SOCK PUPPET!
marinello6 10 months ago
"Creature from Jekyll Island" is an excellent book..A must read..
leyley1970 10 months ago
Bellcord, save your propaganda. The banks fucking caused economic meltdown after Andrew Jackson revoked the charter of the first Central Bank of The United States. Everytime the bank is in trouble it takes it out on congress by deliberately causing catastrophe. The great depression was just them toying with us for fun.
TheKrisha08 11 months ago
I would eat this chicks pussy anytime, anyplace for exposing this. Especially the part about both sides of the bipartisan system being corrupt and paid off. Audit my ass, destroy that motherfucker like John F. Kennedy was planning when the Federal Reserve had him killed! Revoke it's charter!
TheKrisha08 11 months ago
@TheKrisha08
The Federal Reserve is audited annually under the Federal Banking Agency Audit Act of 1978 (31 USCA §714).
The Federal Reserve was audited from when it was first signed in 1913, and the audits became more thorough in 1978. The Federal Reserve is presently audited by the GAO and by private accounting firms. You can review specific financial and performance information from the audits in the FRB Annual Reports.
I also debunked JFK EO 11,110 conspiracies in these comments.
SadegoGG 6 months ago
@SadegoGG WHAT A TROLL YOU ARE!!! WHO OWNS THE FED MORON!!! THE FEDERAL RESERVE IS NOT FEDERAL IT'S JUST THEIR NAME LIKE MCDONALD'S!!!
Alan Grayson: "Which Foreigners Got the Fed's $500,000,000,000?" Bernanke: "I Don't Know."
/watch?v=n0NYBTkE1yQ
Nezello 6 months ago
@Nezello
In 1978 Congress passed the Federal Banking Agency Audit Act (31 USCA §714). It placed the Federal Reserve System back under the auditing authority of the GAO. The Act significantly increased the access of the GAO to the Federal Reserve Banks, the Board, and the Federal Open Market Committee (the FOMC). Since then, the GAO has conducted over 100 financial audits and performance audits of the three Federal Reserve bodies.
SadegoGG 6 months ago
@Nezello
Some of the more important GAO performance audits of the Fed have been in the areas of bank supervision, payment systems activities, and government securities activities. In the first area, the GAO examined how well the Fed was enforcing its regulatory powers over its member banks. In 1992 it drew attention to the Fed's sluggish compliance with regulatory reforms mandated by the Foreign Bank Supervision Act of 1991.
SadegoGG 6 months ago
@Nezello
In examining the Fed's payment system activities, the GAO made the Fed aware of how its pricing policies for such services as check-clearing affected private suppliers of check-clearing services, and also suggested ways to speed up the process of check collections. Security markets for government debt is a crucial market, and GAO performance audits of the Fed have lead to more openness in the primary dealer system, particularly concerning the disclosure of price information.
SadegoGG 6 months ago
@Nezello
The GAO is also involved in several ongoing performance audits of the Fed such as analysis of risks and benefits of interstate banking, regulation of derivatives, and the budget of the Federal Reserve system.
Now, lets discuss exemptions to the Scope of GAO Audits:
The Government Accounting Office does not have complete access to all aspects of the Federal Reserve System. The law excludes the following areas from GAO inspections (31 USCA §714):
SadegoGG 6 months ago
@Nezello
1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
(2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, open market operations;
(3) transactions made under the direction of the Federal Open Market Committee; or
SadegoGG 6 months ago
@Nezello
(4) a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to items.
In 1993 Wayne D. Angell, then a member of the Board of Governors, submitted testimony before a House subcommittee on the reasons for the restrictions on GAO access. He commented,
"By excluding these areas, the Act attempts to balance the need for public accountability of the Federal Reserve
SadegoGG 6 months ago
@Nezello
through GAO audits against the need to insulate the central bank's monetary policy functions from short-term political pressures and to ensure that foreign central banks and governmental entities can transact business in the U.S. financial markets through the Federal Reserve on a confidential basis."
(H.R. 28: "Federal Reserve Accountability Act of 1993," Hearing before the Subcommittee on Domestic Monetary Policy...[House], October 27, 1993,
SadegoGG 6 months ago
@Nezello
U.S. Government Printing Office, Serial no. 103-86.)
In reference to a bill that would lift the constraints placed on the GAO's audit authority over the Federal Reserve, Angell stated,
"The benefits, if any, of broadening the GAO's authority into the areas of monetary policy and transactions with foreign official entities would be small.
SadegoGG 6 months ago
@Nezello
With regard to purely financial audits, the Federal Reserve Act already requires that the Board conduct an annual financial examination of each Reserve Bank...The process of conducting financial audits is reviewed by a public accounting firm to confirm that the methods and techniques being employed are effective and that the program follows generally accepted auditing standards...Further, a private accounting firm audits the Board's balance sheet...
SadegoGG 6 months ago
@Nezello
Finally, and more broadly, the Congress has, in effect, mandated its own review of monetary policy by requiring semiannual reports to Congress on monetary policy under the Full Employment and Balanced Growth Act of 1978...In addition, there is a vast and continuously updated body of literature and expert evaluation of U.S. monetary policy.
SadegoGG 6 months ago
@Nezello .
In this environment, the contribution that a GAO audit would make to the active public discussion of the conduct of monetary policy is not likely to outweigh the disadvantages of expanding GAO audit authority in this area."
(H.R. 28: "Federal Reserve Accountability Act of 1993," Hearing before the Subcommittee on Domestic Monetary Policy...[House], October 27, 1993, U.S. Government Printing Office, Serial no. 103-86).
SadegoGG 6 months ago
@Nezello
For more on GAO restrictions, you can search the Government Printing Office website for GAO report T-GGD-94-44, entitled "Federal Reserve System Audits: Restrictions on GAO's Access."
Now, lets go back to one of the exceptions on GAO Audits:
1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
Bernanke was asked information regarding transactions of loans with foreign financial organizations/banks.
SadegoGG 6 months ago
@Nezello
Bernanke replied the Federal Reserve has historically gotten the loans back and expect to get the loans payed back. Moreover, the Federal Reserve is not risking any tax payer or federal government money with these loans. The Federal Reserve is also not legally obligated to release information pertaining to who got what and how much because of the reasons explained above.
If you still want me to explain federal government control over the fed and the ownership of the fed, ask.
SadegoGG 6 months ago
The Fed profited $8.4 TRILLION in 2010 off of the public records. The T-securities auctions by the Fed/Treasury do NOT show the profit that goes to the Fed. The mathematical analysis is RIP OFF BY THE FEDERAL RESERVE revised 2/27 URL 3w scribd dot com message 49040689.
oldereb38 11 months ago
@oldereb38
Please provide me some financial documents confirming your figure of $8.4 Trillion Through referring to the FRB Annual Reports and the New York Times, its been concluded the Federal Reserve earned $82 billion in profit in 2010 (Which is the fed's most profitable year ever). The Federal Reserve then rebated $79 billion of the $82 billion to the US Treasury, so the Federal Reserve really only earned $3 billion in 2010. I also wasn't able to access the scribd page.
SadegoGG 6 months ago
@SadegoGG Utube means no links. Treasurydirect dot gov click institution auction funds work work. $8.4 trillion is third bullet. The BOG Annual Report does not include ANY value from the auctions. It audits the administrative costs and the interest received. Scibd has made access difficult must be precise. 3W scibd dot com slash doc slash 49040689 or usa the republic dot com article RIP OFF BY FEDERAL RESERVE or a search engine.
oldereb38 6 months ago
@oldereb38
Here is the statement you are referring to:
"ALL money created by Treasury securities goes into the pocket of the Fed ($8.4 trillion for 2010). Not only does the Fed receive the interest (if not sold), but also the value of the security upon maturity (or by sale). Congress has temporary benefit of $1.4 trillion deficit money (until maturity) during 2010."
The unnamed author, when sourcing the $8.4 trillion dollars provides a link to the treasurydirect website.
SadegoGG 6 months ago
@oldereb38
The link goes to a page with numerous links about xx week bills and xx week bonds. No further information is provided regarding how to access the figure of $8.4 Trillion dollars. Therefore, I took a different approach to finding a figure.
Whats interesting is since the Quantitative easing policy the Feds holding of US treasuries increased from $750 billion in 2007 to just over $1.5 trillion by June 2011 (Google federal reserve bank of Cleveland Credit Easing Policy Tools).
SadegoGG 6 months ago
@SadegoGG You prattle on and on and say nothing. If you had a serious desire to find the amount of $8.4 trillion Treasuries auctioned in 2010, you could research it. The link given to you treasurydirect dot gov slash instit slash auctfund slash work slash work dot htm will take you there. Bullet three. It was added after I calculated 8 pages of figures. What value do you claim?
oldereb38 6 months ago
@oldereb38
PM me links to each individual page.
SadegoGG 6 months ago
@oldereb38
The figure thrown around by macroeconomic professors and economists is $1.6 trillion in treasury securities. Therefore, I am suspicious the value of $8.4 trillion was made up or in some way fabricated. Now, lets look at what happens to federal reserve profits.
The gross earnings from the federal reserve's operations first are dedicated to its operating costs. In addition, the regional Federal Reserve Banks maintain capital;
SadegoGG 6 months ago
@SadegoGG GET REAL. The newspaper headline of two weeks ago read the Treasury auctioned $500 billion of LONG TERM securities last MONTH. Multipy by 12 months and add in short terms. Historical auction data at TD dot gov slash RI/OFAuctions?form=histQuery bottom box will give you ALL values of ALL security issues. Learn to research. After 8 pages of calculations, $8.4 trillion for 2010 will evidence.
oldereb38 6 months ago
@oldereb38
Please PM me links, don't try to post them in youtube comments.
SadegoGG 6 months ago
@oldereb38
they retain enough earnings to have on hand a "surplus" equal to the paid-in subscriptions of their member-owners. As explained above, the Federal Reserve Banks also pay the dividend to their member banks.
What remains is all paid over into the Treasury. Over its history, the Fed has paid to the Treasury approximately 95% of its earnings. Given the fact that the Treasury, if it created money directly, would incur costs in its administration,
SadegoGG 6 months ago
@SadegoGG You choose to completely ignore the trillions handled from the auctions. There is NO documentation as to its receipt nor to its destination. The audit for the REPORT TO CONGRESS is conducted according to guidelines established by the Fed. The Fed prevents reports on auction transactions. There is no evidence the Fed did not retain the $8.4 from the 2010 auctions as profit. All profits of the Fed belong to the U.S. Concealment of profit by bank accounting is called embezzlement.
oldereb38 6 months ago
@oldereb38
Find a document of those trillions. I told you when your website with an unnamed author that doesn't provide any contact information introduced the figure of $8.4 trillion he provided a link to a website that didn't include a figure of $8.4 trillion. Therefore, I took an alternative route to find the t-securities held by the Fed. According to the Cleveland federal reserve, the $8.4 trillion figure is false.
Moreover, here are the 4 restrictions to GAO Audits (31 USCA §714):
SadegoGG 6 months ago
@oldereb38
(1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
(2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, open market operations;
(3) transactions made under the direction of the Federal Open Market Committee; or
SadegoGG 6 months ago
@oldereb38
(4) a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to items.
Your author also suggests the debt is impossible to pay off because there is interest on every dollar that is created. However, this money is reimbursed to the US Treasury after the federal reserve pays its expenses. Its virtually interest free money. The author has virtually no understanding of money creation
SadegoGG 6 months ago
@oldereb38
the revenue and cost effects of having the Federal Reserve issue are about the same as having the Treasury do so.
In addition, the price of Federal Reserve Bank stock is fixed at $100 per share. It neither appreciates nor depreciates in value. That means that any growth in the capital of the Federal Reserve Banks does not belong to the Banks "owners," but to the Government which would get the accumulated value of retained earnings if the system were ever dissolved.
SadegoGG 6 months ago
@oldereb38
To the extent that Fed retains earnings for the purpose of maintaining its capital at a specifies proportion of its liabilities, there is no adverse effect on the governments receipts and outlays. Holding earnings means they are invested in Treasury securities, with the interest on the securities remitted to the Treasury. If the Fed did not retain the earnings, the funds would have passed to the Treasury,
SadegoGG 6 months ago
@oldereb38
which would not issue that amount of securities, and thereby save an identical amount of interest. The formal procedure makes no difference to reality, just to which ledger-book column the numbers are placed in.
SadegoGG 6 months ago
this is a nice video telling the truth, Good going, keep telling it like it is!
SimplyStupidNews 11 months ago
Any of you genius every read history ? Without the Fed bank panics would destroy peoples life savings about every 4 to 8 years...When economic hardtimes hit the President and Congress had nothing to fight it with..That's why EVERY modern industrial Nation has a Central Bank ...I'm not sayin' you have to actually Wake Up I'm just sayin' pull your head outta yer ass and don't fall for these horseshit artists calling for the end of the FED.,.
bellcord 11 months ago
@bellcord Do you really believe that? When I was a kid, 4 silver quarters were worth a dollar in 1964. Now they
are worth $30 dollars. In 47 years that is 3000% percent INFLATION in Silver alone! You do not call that destroying savings. PULL YOUR HEAD OUT OF YOUR ASS! There are millions of other examples. My mother was born into a Germany where in 1923 if you did not have gold or silver, you lost everything. Go argue with my Oma und Opa about your academic BULLSHIT!
marinello6 11 months ago