I laughed heartily at this, until the abject terror set in. This is the PRIVATE COMPANY who prints our money, decides how much to print, and what interest rates are. The same PRIVATE COMPANY who named themselves in such a way that we might mistakenly believe that they are a government agency. The Federal Reserve.
The same PRIVATE COMPANY that paid Woodrow Wilson (as he would later shamefully and apologetically admit) to pass a bill on Christmas Eve 1913 so that only 2 congressmen out of 3 present needed to favor it in order for it to pass. Yes, 3 people showed up out of all the Congress, done intentionally on a holiday to ensure the passage of the bill, giving a PRIVATE COMPANY the authority to decide our inflation and deflation, and essentially, the authority to bankrupt the entire country.
This is a must read.
Thanks to our partner, Justin, for covering this. Read the full story here. And trust me, you'll want to read the full story. This is who we have to thank for the near total collapse of our nations financial system. Pure gold Justin, bravo.
Who owns the Federal Reserve Bank? A phone conversation about the unseen operations of the Federal Reserve System
The following is a conversation with Mr. Ron Supinski of the Public Information Department of the San Francisco Federal Reserve Bank. This is an account of that conversation.
CALLER – Mr. Supinski, does my country own the Federal Reserve System?
MR. SUPINSKI – We are an agency of the government.
CALLER – That’s not my question. Is it owned by my country?
MR. SUPINSKI – It is an agency of the government created by congress.
CALLER – Is the Federal Reserve a Corporation?
MR. SUPINSKI – Yes
CALLER – Does my government own any of the stock in the Federal Reserve?
MR. SUPINSKI – No, it is owned by the member banks.
CALLER – Are the member banks private corporations?
MR. SUPINSKI – Yes
CALLER – Are Federal Reserve Notes backed by anything?
MR. SUPINSKI-Yes, by the assets of the Federal Reserve but, primarily by the power of congress to lay tax on the people.
CALLER – Did you say, by the power to collect taxes is what backs Federal Reserve Notes?
MR. SUPINSKI – Yes
CALLER – What are the total assets of the Federal Reserve?
MR. SUPINSKI – The San Francisco Bank has $36 Billion in assets.
CALLER – What are these assets composed of?
MR. SUPINSKI – Gold, the Federal Reserve Bank itself and government securities.
CALLER – What value does the Federal Reserve Bank carry gold per oz. on their books?
MR. SUPINSKI – I don’t have that information but the San Francisco Bank has $1.6 billion in gold.
CALLER – Are you saying the Federal Reserve Bank of San Francisco has $1.6 billion in gold, the bank itself and the balance of the assets is government securities?
MR. SUPINSKI – Yes.
CALLER – Where does the Federal Reserve get Federal Reserve Notes from?
MR. SUPINSKI – They are authorized by the Treasury.
CALLER – How much does the Federal Reserve pay for a $10 Federal Reserve Note?
MR. SUPINSKI – Fifty to seventy cents.
CALLER – How much do they pay for a $100.00 Federal Reserve Note?
MR. SUPINSKI – The same fifty to seventy cents.
CALLER – To pay only fifty cents for a $100.00 is a tremendous gain, isn’t it?
MR. SUPINSKI – Yes
CALLER – According to the US Treasury, the Federal Reserve pays $20.60 per 1,000 denomination or a little over two cents for a $100.00 bill, is that correct?
MR. SUPINSKI – That is probably close.
CALLER – Doesn’t the Federal Reserve use the Federal Reserve Notes that cost about two cents each to purchase US Bonds from the government?
MR. SUPINSKI – Yes, but there is more to it than that.
CALLER – Basically, that is what happens?
MR. SUPINSKI – Yes, basically you are correct.
CALLER – How many Federal Reserve Notes are in circulation?
MR. SUPINSKI – $263 billion and we can only account for a small percentage.
CALLER – Where did they go?
MR. SUPINSKI – Peoples mattress, buried in their back yards and illegal drug money.
CALLER – Since the debt is payable in Federal Reserve Notes, how can the $4 trillion national debt be paid-off with the total Federal Reserve Notes in circulation?
MR. SUPINSKI – I don’t know.
CALLER – If the Federal Government would collect every Federal Reserve Note in circulation would it be mathematically possible to pay the $4 trillion national debt?
MR. SUPINSKI – No
CALLER – Am I correct when I say, $1 deposited in a member bank $8 can be lent out through Fractional Reserve Policy?
MR. SUPINSKI – About $7.
CALLER – Correct me if I am wrong but, $7 of additional Federal Reserve Notes were never put in circulation. But, for lack of better words were “created out of thin air ” in the form of credits and the two cents per denomination were not paid either. In other words, the Federal Reserve Notes were not physically printed but, in reality were created by a journal entry and lent at interest. Is that correct?
MR. SUPINSKI – Yes
CALLER – Is that the reason there are only $263 billion Federal Reserve Notes in circulation?
MR. SUPINSKI – That is part of the reason.
CALLER – Am I mistaking that when the Federal Reserve Act was passed (on Christmas Eve) in 1913, it transferred the power to coin and issue our nation’s money and to regulate the value thereof from Congress to a Private corporation. And my country now borrows what should be our own money from the Federal Reserve (a private corporation) plus interest. Is that correct and the debt can never be paid off under the current money system of country?
MR. SUPINSKI – Basically, yes.
CALLER – I smell a rat, do you?
MR. SUPINSKI – I am sorry, I can’t answer that, I work here...
CONTINUED HERE...
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