Tag Archives: federal reserve system

THE PEOPLE’s ASSEMBLY against Austerity: nearly 4,000 registered this Saturday Central London

13 06 21 AusterityThis is a remarkable event with a most necessary agenda: The People’s Assembly against Austerity.

And they don’t even know about the obvious solution, for people in general simply don’t understand the complexity – because ‘economics’ has been created to camouflage what bankers and central bankers are doing:

  • what money is: Cash and Credit
  • that bankers [who issue the Credit] determine what happens in an economy
  • that governments have ‘forgotten’ about their monopoly to issue Cash as interest-free money
  • that the budgets of governments always have a large component to pay ‘interest payments’

 

The solution is the Bradbury Pound that was issued 99 years ago as a precedent for what should have been happening ever since.

A campaign to bring back the Bradbury Pound for its 100th anniversary has begun.

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How monetary reform has become a criminal activity

norfed1

norfed1 (Photo credit: pbarnhart_cedarpark)

Sooo many people see through the veil of camouflage surrounding the creation of money.

One of them is Bernard von NotHaus, the creator of Liberty Dollars.

RealEconTV has published a related article that appeared in the New York Times and a video.

The questions are:

Gold = money from thin air by Central Banks for Central Banks?

GATA is the “Gold Anti-Trust Action Committee” that keeps watching what banks, and especially central banks, are doing with gold, governments and financial markets. For even though the Bank of England Act 1694 said for the Corporation not to trade, to avoid ‘serious oppression’ of Their Majesties’ subjects, we know that ‘money’ has become a ‘financial product’ and there is nobody to question anything what banks or central banks are doing…

But here are some crucial questions that central banks should be asked about gold – after all, it’s supposedly NOT made from thin air – as all ‘credit money‘ created by banks:

Dear Friend of GATA and Gold:

For years GATA has been glad to respond to questions about the gold market from financial journalists in the mainstream news media, but we have always urged them to question the primary actors in the market, central banks, particularly in light of the documentation we have amassed showing or suggesting their often-surreptitious intervention in the market:

http://www.gata.org/taxonomy/term/21

As far as we know, no such journalists have yet tried to question central banks about gold and reported the answers or refusals to answer, even as the efforts to question Germany’s central bank, the Bundesbank, by the Canadian market analyst Rob Kirby in 2009 and the German freelance journalist Lars Schall in 2010 extracted some sensational confirmations in the form of denials:

http://www.gata.org/node/7713

http://www.gata.org/node/9363

So to make it easy for mainstream news media financial journalists in case they ever want to pursue the gold story seriously, GATA compiles below some critical questions for central banks.

These are only a start and we’ll welcome ideas for additional questions.

These questions also may be used to turn away those financial writers who disparage complaints of gold market manipulation without ever having first put a critical question to a central bank.

For the Federal Reserve

1) What are the Fed’s gold swap arrangements with foreign banks that were acknowledged by Fed Governor Kevin M. Warsh in his adjudication of GATA’s freedom-of-information request in September 2009?:

http://www.gata.org/files/GATAFedResponse-09-17-2009.pdf

2) What are the other parties to these gold swap arrangements?

3) Have such arrangements ever been implemented? If so, when, how, and why?

4) What are the other gold-related documents the Fed succeeded in withholding from disclosure in GATA’s freedom-of-information lawsuit against the Fed in February 2011? Will the Fed disclose them now? If not, why?

http://www.gata.org/node/9560

For former Federal Reserve Board of Governors member Kevin M. Warsh

1) In your commentary in The Wall Street Journal on December 6, 2011, you wrote that “policy makers are finding it tempting to pursue ‘financial repression’ — suppressing market prices that they don’t like.” You added, “Efforts to manage and manipulate asset prices are not new.”

http://www.gata.org/node/10839

Which prices did you mean as being subject to “financial repression”?

2) Which previous “efforts to manage and manipulate asset prices” did you mean?

3) Did you learn about “financial repression” during and because of your service at the Fed?

For the U.S. Treasury Department

1) In the last 20 years has the U.S. government tried to influence the price of gold, openly or surreptitiously, directly or through intermediaries? If so, when, how, and for what purpose?

2) Has the Treasury Department or any other agency of the U.S. government, including the Exchange Stabalization Fund, undertaken gold swaps or gold swap arrangements or other gold transactions in the last 20 years?

3) Are the gold-related records of the U.S. government, including those of the Treasury Department and the Exchange Stabilization Fund, fully available to the public? If not, why?

For the Bank of England and the United Kingdom Treasury

1) In December 2011 the Bank of England acknowledged that it had been active surreptitiously in the gold market prior to 2007 and did not want its gold transactions known to the market generally:

http://www.gata.org/node/10778

With whom were these transactions undertaken and what were their purposes?

2) Will the Bank of England and the U.K. Treasury fully disclose their gold-related records? If not, why?

For the Deutsche Bundesbank

1) In August 2009 the Bundesbank replied to an inquiry from the Canadian financial writer Rob Kirby about the Bundesbank’s handling of Germany’s gold reserves. The Bundesbank wrote: “The Deutsche Bundesbank keeps a large part of its gold holdings in its own vaults in Germany, while some of its gold is also stored with the central banks located at major gold trading centres. This has historical and market-related reasons, the gold having been transferred to the Bundesbank at these trading centres. Moreover, the Bundesbank needs to hold gold at the various trading centres in order to conduct its gold activities. It is common practice for central banks to keep part of their gold reserves abroad.”

http://www.gata.org/node/7713

In December 2010 the Bundesbank replied to an inquiry from the German freelance journalist Lars Schall. The Bundesbank wrote: “In managing foreign reserves, the Bundesbank fulfils one of its mandated tasks as an integral part of the European System of Central Banks. We trust you will understand that we are not able to divulge any further information regarding this activity. Particularly with respect to the confidential nature of information about where gold holdings are kept, we are unable to go into any greater detail concerning exact locations and the quantities stored at each of these. Likewise, owing to the strategic nature of the activity, we are not at liberty to provide you with more detailed information about gold transactions.”

http://www.gata.org/node/9363

What are the “gold activities” cited in the reply to Kirby? What is the “strategic … activity” cited in the reply to Schall?

2) Has the Bundesbank undertaken any gold swaps or gold swap arrangements with the U.S. Federal Reserve, U.S. Treasury Department, or any agency of the U.S. government or other government? If so, when, and what were the purposes of the swaps?

3) Will the Bundesbank make its gold records fully available for public inspection? If not, why?

For the International Monetary Fund

1) Where is the IMF’s gold kept? Is it kept in the IMF’s own vaults, in the vaults of IMF member nations, or elsewhere?

2) Is the IMF’s gold actually in the IMF’s possession or is it essentially just a claim on the gold reserves of its member nations?

3) When during the last 20 years the IMF said it was selling gold, did any gold actually leave any vault? If so, how much, and from which vaults did it leave and to which vaults was it delivered?

4) Will the IMF make its gold records fully available for public inspection? If not, why?

For the Bank for International Settlements

1) What is the “gold pool” cited by BIS President Karl Otto Pohl in his interview with the financial journalist Edward Jay Epstein published in the November 1983 edition of Harper’s magazine?

http://www.gata.org/node/11622

2) Exactly how and why does the BIS trade in gold on its own behalf or on behalf of its members? Is information about this trading fully available to the public? If not, why?

3) A presentation made by the BIS to prospective central bank members at a meeting at BIS headquarters in Basel, Switzerland, in June 2008 —

http://www.gata.org/node/11012

— includes, among a list of BIS services, interventions in the gold market. What are these interventions and their purposes and exactly how are they undertaken? Are they public or secret? If they are secret, why?

4) In a speech delivered at a conference at BIS headquarters in Basel in June 2005 —

http://www.gata.org/node/4279

— William S. White, head of the BIS’ Monetary and Economic Department, said that among the major purposes of international central bank cooperation is “the provision of international credits and joint efforts to influence asset prices (especially gold and foreign exchange) in circumstances where this might be thought useful.”

In the last 20 years what efforts has the BIS made or assisted to influence asset prices, particularly gold prices? Of which such efforts is the BIS aware?

5) Did the BIS undertake any gold transactions simultaneous with the devaluation of the Swiss franc in September 2011?

For every central bank

1) What is the central bank’s policy toward gold?

2) Has the central bank loaned or swapped gold or does it have gold swap arrangements with other central banks or government agencies? If so, who are the counterparties of these swaps and swap arrangements and what is their purpose?

3) Is it the bank’s policy to support the gold derivatives market by making the bank’s gold available for sale, swap, lease, other exchange, or hypothecation? If so, why?

4) Are the bank’s gold-related records fully available for public inspection? If not, why?

For JPMorgan Chase & Co.:

1) Are the enormous interest rate derivatives positions and the monetary metals positions on the bank’s books the positions of JPMorgan Chase & Co. itself or are they essentially the positions of the U.S. government or other governments?

http://news.goldseek.com/GoldSeek/1249407911.php

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Finance is too important to be left to the financiers, says maker of film “Inside Job”

Inside Job is a remarkable film by a remarkable maker: Charles Ferguson – an advisor of high tech companies and governments.

The best players are those who declined interviews.

Unfortunately, the events only start in 1933, not in 1694 when the Bank of England was founded and 1913 when the Federal Reserve was founded…

Finance is too important to be left to financiers,

Charles Ferguson tol POLITICO.

Cassandra is not alone: US backing for world currency stuns markets

It’s been in the air for a long time: the IMF is meant to “unite” the world with Special Drawing Rights (SDRs) as the debt-based global currency. Let’s hope that the gods will NOT allow this complete enslavements! But Cassandra was always right, wasn’t she…

Here’s an article in The Telegraph that summarises the current power plays at work.

And here are related articles that I select for once while too many people write too much about the subject methinks, while not enough people challenge those who pull the strings…

Continue reading

Secrets of the Federal Reserve – The London Connection

This article is a gem! Thank god, the web enables us to share it across the world!

 

Ron Paul’s potential questions for Ben Bernanke – Hope for “us the people”?

This text came from GATA, the excellent Gold Anti-Trust Action Committee:

U.S. Rep. Ron Paul’s former research assistant, the economist Gary North, this week joined most of the rest of the civilized world in delighting that Paul soon may be in charge of the questions put to Federal Reserve Chairman Ben Bernanke by the House Monetary Policy Subcommittee. In an essay posted at Lew Rockwell’s Internet site, North offers a few potential questions while acknowledging that there will be many more good ones aimed at exploding the secrecy of the least accountable and most totalitarian agency of the the U.S. government. North’s essay is headlined “Ron Paul’s Questions for Ben Bernanke” and you can find it here.