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Originally posted by Freelancer
The big question now is: If we know the present monetary system is corrupt and highly unstable and which is based on the principle of 'Debt', what viable alternative system is there that 'could' replace this and still drive a growing economy?.
Originally posted by SeekerofTruth101
and worse still - were there even real gold left in the vaults? Where did all the gold went???[
Rep. Ron Paul (R-Texas) said he plans to introduce legislation next year to force an audit of U.S. holdings of gold.
The Federal Reserve knows but is apparently part of the scheme Earlier this year GATA filed a second Freedom of Information Act (FOIA) request with the Federal Reserve System for documents from 1990 to date having to do with gold swaps, gold swapped, or proposed gold swaps.
What the Chinese uncovered: Roughly 15 years ago -- during the Clinton Administration [think Robert Rubin, Sir Alan Greenspan and Lawrence Summers] -- between 1.3 and 1.5 million 400 oz tungsten blanks were allegedly manufactured by a very high-end, sophisticated refiner in the USA [more than 16 Thousand metric tonnes]. Subsequently, 640,000 of these tungsten blanks received their gold plating and WERE shipped to Ft. Knox and remain there to this day.
Why use tungsten? If you are going to print fake money you need to have the special paper, otherwise the bills don't feel right and can be easily detected by special pens that most merchants and banks use. Likewise, if you are going to fake gold bars you had better be sure they have the same weight and properties of real gold.
UPDATE: Audit of Fed Reserve Amendment Passes! In an unprecedented defeat for the Federal Reserve, an amendment to audit the multi-trillion dollar institution was approved by the House Finance Committee with an overwhelming and bipartisan 43-26 vote on Thursday afternoon despite harried last-minute lobbying from top Fed officials and the surprise opposition of Chairman Barney Frank (D-Mass.), who had previously been a supporter.
Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is.