The writing details how the Federal Reserve embezzles $3 billion DAILY using their exclusive control of the auction accounts of Treasury securities. Ref. 31 CFR 375.3. The accounts are customer accounts—not operational accounts. They have never been audited.
It has been inspired by an economics professor. He informed his graduate class in Money and Banking how the Federal Reserve Bank of New York creates and hides phenomenal amounts. He had previously been employed by the FRBNY.
The unidentified Wall Street owners of the Federal Reserve Board of Governors are assumed to be the same financiers who own the TBTF banks who are among the Primary Dealers. That is the only feasible destination for the funds created. The IMF and the WB, which are controlled by the Wall Street bankers, have been documented to impoverish the third world. They are also complicit for the economic devastation of Europe; and who have additionally imposed a fraudulent debt of $18 trillion on the citizenry of the U.S.
They have further identified the collection of the U.S. National Debt is their “ultimate goal” on internal memos. They have achieved super-priority on the $200 trillion toxic derivatives which they have created. Bail-ins (i.e., seizures of deposits, pensions, national assets, etc) will protect the TBTF banks when default occurs.
The embezzlement by the Board of Governors is the financial fountain that controls and funds the IMF and World Bank that is devastating the world as described by Michel Chossudovsky in GLOBALIZATION OF POVERTY, and which waters the corporatocracy decried by John Perkins in NEW CONFESSIONS OF ECONOMIC HIT MAN that Carroll Quigley exposed as the CFR (with six super industrial conglomerates of Wall Street controlled interlocking board of directors) in TRAGEDY AND HOPE, and funds what David Rockefeller brags as the utopian society controlled by financiers in MEMOIRS.
Perhaps the writing may be of interest to you.
Jim Carter
THE BIGGEST SWINDLE EVER PULLED
People are aware the government incurs a trillion dollar increase in the National Debt annually to spend money it does not have. Congress-critters can then fund pork barrel projects back home and get votes from constituents. Is theft by inflation for the “freebies,” or to pay for what has become our perpetual war to bring ‘freedom and democracy’ to the world at the price of chains and slavery, the end of the scam ?? Not hardly.
HOW MONEY IS CREATED
For congress to get the book-entry money created on the government’s bank account, the Treasury Department must send a Treasury security to the FRBNY. Then the Fed will honor checks on the account and the fiat money is added to the economic system (inflation occurs) when government spends the money.
The Fed foists this operation as a loan, but there is no consideration put up by the Fed. If consideration was conveyed, there would be no increase of money in circulation and hence no inflation. Numbers are merely entered in a ledger (by the FRBNY) while no substance is involved. The loan is a scam. The fact that Ben Franklins, Washingtons, Lincolns, etc., are purchased by the Fed (for pennies) from the government is ignored by Wall Street sycophants. It is weird that a “loan” is contended while there is no owner of the Fed/BOG identified; it is trumpeted as a government agency.
When the recipient of a government check takes the check to the bank for cash, he is given Federal Reserve Notes. A “note” is a document the (FR) owes you something (dollars). The Fed purchases the Federal Reserve Notes (that had been printed by the U.S. Treasury) for 4 cents to 15 cents each depending upon the face amount. Those promissary notes have historically promised they could be redeemed in lawful money; that they could be redeemed in gold or silver; or that they were commercial paper. Today they convey they are legal tender. By law, you must accept them for dollars. They are currently declarations by the Federal Reserve to pay you nothing.
AUCTIONS OF TREASURY SECURITIES
But what happens to the security received by the FRBNY as collateral for the “loan” ?? Easy, the bank auctions it off to the public and pretends it has been sold by the Treasury Department. You are led to believe the money will go to the government. It does not.
More than $8.5 trillion in marketable Treasury securities are auctioned annually. $7 trillion of the National Debt is rolled over by auctioned securities along with about one trillion dollars of new deficit spending securities. The $7 trillion is credited to government accounts to pay off Primary Dealers (PD) who have collected maturing and called securities. There is no increase in the amount of funds in the market (inflation) or increase in the national debt incurred from the roll over.
Deficit spending securities are sold as a declared percentage of auctioned items. If the one trillion dollars from auctioned deficit spending securities was credited to the government, there would be no inflation or increase in the National Debt. Where does the money go??
All disbursements of auction funds are handled exclusively by the FRBNY. Ref. 31 CFR 375.3. These accounts have never been audited. All audits of the Fed are conducted in accordance with guidelines established by the BOG. The auction funds are in client accounts; they are not operational accounts. The auction accounts are not mentioned in the Annual Report to Congress.
Like the prosecutor says: “Follow the money trail.” Seven trillion dollars goes to the PDs. One more trillion can be added to the cover and never be noticed.
Pundits have endlessly mulled the question: “Who owns the Fed?” The Fed is the government facade. It is submitted the controlling working entity is the Board of Governors. It is concluded, without proof, that the BOG is a privately held corporation owned by the TBTF banks. The trail of money goes in no other direction. Privately held corporations are not required to file papers with the SEC but Wall Street maintains control. [The 12 Federal Reserve Banks are recognized as privately owned franchisees under supervisory and administrative control of the Board of Governors. That is not a subject of this article.]
If the trillion dollars from deficit spending went to the owners among the Primary Dealers, that would be paying the owners of the BOG. No feasible alternate destination for the funds has been found, but the funds cannot remain in the accounts of the FRBNY.
The scam fed to the public conceals the humongous profit from auctioned securities. It was undoubtedly the same scheme used by the Rothschild family in Europe centuries ago and was resurrected on Jekyll Island in 1912. The transfer of money to the owners from the auctioned deficit spending securities is pure profit. It amounts to $3 billion profit daily—7/52. And the public never sees the profit by the TBTF banks.
By law, all profit of the Fed belongs to the government. Hiding money that belongs to the government is a crime. The Federal Reserve embezzles one trillion dollars annually from the government. They have embezzled a total of $19 trillion.
These are the same bankers who have created over $200 trillion in toxic derivatives. They have bribed Congress to guarantee that the eventual bankruptcy of the derivatives will be borne by the depositors, pensioners, government salaries, and taxpayers of the United States by bail-in before all other creditors; the bankers are protected.
They are also the same bankers who, using nefarious means, have used the IMF and WB to impose unpayable national debts upon Greece, Portugal, Italy, Haiti, and more than 100 other nations resulting in bankruptcy, oppression, social chaos, and impoverishment. Their internal memos have identified collection of the $19 trillion U.S. national debt is the “ultimate goal.” The current trends in the U.S., including the elimination of the middle class, are similar to those the IMF and WB have imposed for decades. The vultures are coming home to roost.
So who will prosecute the Fed for stealing a mere $18 trillion ? And for setting up the United States for national bankruptcy ?? For an answer to that question, you might ask your congress-critter but do not hold your breathe. Legislators are a major beneficiary of Wall Street. It took an average of only $50,000 to get their votes for TPP—another Wall Street get-control scheme.
PS: Feel free to circulate the writing among interested parties. The swindle will not stop until it is exposed.
The writing details how the Federal Reserve embezzles $3 billion DAILY using their exclusive control of the auction accounts of Treasury securities. Ref. 31 CFR 375.3. The accounts are customer accounts—not operational accounts. They have never been audited.
It has been inspired by an economics professor. He informed his graduate class in Money and Banking how the Federal Reserve Bank of New York creates and hides phenomenal amounts. He had previously been employed by the FRBNY.
The unidentified Wall Street owners of the Federal Reserve Board of Governors are assumed to be the same financiers who own the TBTF banks who are among the Primary Dealers. That is the only feasible destination for the funds created. The IMF and the WB, which are controlled by the Wall Street bankers, have been documented to impoverish the third world. They are also complicit for the economic devastation of Europe; and who have additionally imposed a fraudulent debt of $18 trillion on the citizenry of the U.S.
They have further identified the collection of the U.S. National Debt is their “ultimate goal” on internal memos. They have achieved super-priority on the $200 trillion toxic derivatives which they have created. Bail-ins (i.e., seizures of deposits, pensions, national assets, etc) will protect the TBTF banks when default occurs.
The embezzlement by the Board of Governors is the financial fountain that controls and funds the IMF and World Bank that is devastating the world as described by Michel Chossudovsky in GLOBALIZATION OF POVERTY, and which waters the corporatocracy decried by John Perkins in NEW CONFESSIONS OF ECONOMIC HIT MAN that Carroll Quigley exposed as the CFR (with six super industrial conglomerates of Wall Street controlled interlocking board of directors) in TRAGEDY AND HOPE, and funds what David Rockefeller brags as the utopian society controlled by financiers in MEMOIRS.
Perhaps the writing may be of interest to you.
Jim Carter
THE BIGGEST SWINDLE EVER PULLED
People are aware the government incurs a trillion dollar increase in the National Debt annually to spend money it does not have. Congress-critters can then fund pork barrel projects back home and get votes from constituents. Is theft by inflation for the “freebies,” or to pay for what has become our perpetual war to bring ‘freedom and democracy’ to the world at the price of chains and slavery, the end of the scam ?? Not hardly.
HOW MONEY IS CREATED
For congress to get the book-entry money created on the government’s bank account, the Treasury Department must send a Treasury security to the FRBNY. Then the Fed will honor checks on the account and the fiat money is added to the economic system (inflation occurs) when government spends the money.
The Fed foists this operation as a loan, but there is no consideration put up by the Fed. If consideration was conveyed, there would be no increase of money in circulation and hence no inflation. Numbers are merely entered in a ledger (by the FRBNY) while no substance is involved. The loan is a scam. The fact that Ben Franklins, Washingtons, Lincolns, etc., are purchased by the Fed (for pennies) from the government is ignored by Wall Street sycophants. It is weird that a “loan” is contended while there is no owner of the Fed/BOG identified; it is trumpeted as a government agency.
When the recipient of a government check takes the check to the bank for cash, he is given Federal Reserve Notes. A “note” is a document the (FR) owes you something (dollars). The Fed purchases the Federal Reserve Notes (that had been printed by the U.S. Treasury) for 4 cents to 15 cents each depending upon the face amount. Those promissary notes have historically promised they could be redeemed in lawful money; that they could be redeemed in gold or silver; or that they were commercial paper. Today they convey they are legal tender. By law, you must accept them for dollars. They are currently declarations by the Federal Reserve to pay you nothing.
AUCTIONS OF TREASURY SECURITIES
But what happens to the security received by the FRBNY as collateral for the “loan” ?? Easy, the bank auctions it off to the public and pretends it has been sold by the Treasury Department. You are led to believe the money will go to the government. It does not.
More than $8.5 trillion in marketable Treasury securities are auctioned annually. $7 trillion of the National Debt is rolled over by auctioned securities along with about one trillion dollars of new deficit spending securities. The $7 trillion is credited to government accounts to pay off Primary Dealers (PD) who have collected maturing and called securities. There is no increase in the amount of funds in the market (inflation) or increase in the national debt incurred from the roll over.
Deficit spending securities are sold as a declared percentage of auctioned items. If the one trillion dollars from auctioned deficit spending securities was credited to the government, there would be no inflation or increase in the National Debt. Where does the money go??
All disbursements of auction funds are handled exclusively by the FRBNY. Ref. 31 CFR 375.3. These accounts have never been audited. All audits of the Fed are conducted in accordance with guidelines established by the BOG. The auction funds are in client accounts; they are not operational accounts. The auction accounts are not mentioned in the Annual Report to Congress.
Like the prosecutor says: “Follow the money trail.” Seven trillion dollars goes to the PDs. One more trillion can be added to the cover and never be noticed.
Pundits have endlessly mulled the question: “Who owns the Fed?” The Fed is the government facade. It is submitted the controlling working entity is the Board of Governors. It is concluded, without proof, that the BOG is a privately held corporation owned by the TBTF banks. The trail of money goes in no other direction. Privately held corporations are not required to file papers with the SEC but Wall Street maintains control. [The 12 Federal Reserve Banks are recognized as privately owned franchisees under supervisory and administrative control of the Board of Governors. That is not a subject of this article.]
If the trillion dollars from deficit spending went to the owners among the Primary Dealers, that would be paying the owners of the BOG. No feasible alternate destination for the funds has been found, but the funds cannot remain in the accounts of the FRBNY.
The scam fed to the public conceals the humongous profit from auctioned securities. It was undoubtedly the same scheme used by the Rothschild family in Europe centuries ago and was resurrected on Jekyll Island in 1912. The transfer of money to the owners from the auctioned deficit spending securities is pure profit. It amounts to $3 billion profit daily—7/52. And the public never sees the profit by the TBTF banks.
By law, all profit of the Fed belongs to the government. Hiding money that belongs to the government is a crime. The Federal Reserve embezzles one trillion dollars annually from the government. They have embezzled a total of $19 trillion.
These are the same bankers who have created over $200 trillion in toxic derivatives. They have bribed Congress to guarantee that the eventual bankruptcy of the derivatives will be borne by the depositors, pensioners, government salaries, and taxpayers of the United States by bail-in before all other creditors; the bankers are protected.
They are also the same bankers who, using nefarious means, have used the IMF and WB to impose unpayable national debts upon Greece, Portugal, Italy, Haiti, and more than 100 other nations resulting in bankruptcy, oppression, social chaos, and impoverishment. Their internal memos have identified collection of the $19 trillion U.S. national debt is the “ultimate goal.” The current trends in the U.S., including the elimination of the middle class, are similar to those the IMF and WB have imposed for decades. The vultures are coming home to roost.
So who will prosecute the Fed for stealing a mere $18 trillion ? And for setting up the United States for national bankruptcy ?? For an answer to that question, you might ask your congress-critter but do not hold your breathe. Legislators are a major beneficiary of Wall Street. It took an average of only $50,000 to get their votes for TPP—another Wall Street get-control scheme.
PS: Feel free to circulate the writing among interested parties. The swindle will not stop until it is exposed.
For an extended analysis, see
For usage of the embezzled money, see