Attended a Luncheon today with a FED bank President

I attended a luncheon today, with the KC FED bank. They paid for the lunch and they didn't spare any expense - filet mignon with cheese cake for dessert. There were probably 150 people in attendance. It was an "invitation only" luncheon of business people (mainly bankers, investors and politicians) and I invited myself by calling the event planner at the bank and asking if I could attend. She was more than happy to put me on the RSVP list.

All of the state legislators from 2 counties were there as was the representative of my congressman (the one that wanted to meet with me a week or 2 ago about my letters to the editor). I sat at a table with a couple of Morgan Stanley Dean Witter stock brokers.

I didn't get a chance to ask a question, but there were 2 great ones asked. One was asked by an old guy. He referred to FDR collecting all the gold and then Eisenhower wanting to audit Fort Knox. He said there hasn't been an audit in over 50 yrs. and said, "where's the gold?" To which the FED president of the KC bank responded, "I don't know about the gold in Fort Knox, but I have been to the vault of the NYC FED and it has a LOT of gold." HA HA HA HA - Is it any wonder where all that gold came from!!???? Try, Fort Knox.

Then, the last question was from a guy that asked, "Since you've doubled the money, don't you have to cut it back now and how are you going to do that?" That was great too. THe response was that they would need to sell assets.

The overall point of his speech was that they will have to raise interest rates AND decrease the money supply. He repeatedly referred to inflation and how this is all a balancing act in which they just "hope" for the best.

Anyway, fun stuff. When it was over, the stock broker next to me asked me what I thought about the speech. I told him it was about cutting the money supply and increasing interest rates. Then I told him that the FED is EVIL and went on to say, "Who owns the FED? Might they be the same people that own the centralized bank of China?" He laughed and I said, "Seriously, do you know that they're NOT the same people?" He didn't laugh again. LOL

Great contribution.

I am surprised he was so forth coming about inflation. He knows it is on the way and told us why and how it will happen. I recall the late 70's, early 80's with interest rates near 18 percent on CD's. I think the interest rates he is referring to is what they receive on their loans and not what is paid out.

I wonder if he knows how bad it will get or if it is going to be as big a surprise for the fed as it will be for most people.

Originally posted by Ron Paul Girl
I didn't get a chance to ask a question, but there were 2 great ones asked. One was asked by an old guy. He referred to FDR collecting all the gold and then Eisenhower wanting to audit Fort Knox. He said there hasn't been an audit in over 50 yrs. and said, "where's the gold?" To which the FED president of the KC bank responded, "I don't know about the gold in Fort Knox, but I have been to the vault of the NYC FED and it has a LOT of gold." HA HA HA HA - Is it any wonder where all that gold came from!!????

Try, Fort Knox.

Hmm... Well, congrats on being able to attend this. Sounds like a good experience to have. I am concerned and a bit curious. Why the hell does the NYC Fed vault have gold in it? They don't use it! Fed money is fiat currency -- no gold backing. And the Fed is NOT a bank the way we know of banks. So why are they storing gold?

reply to post by rogerstigers


Because they are smart people. They know that the dollar has its ups and downs, so they keep gold just incase it goes too far south and would be awhile before it could be fixed.

reply to post by USamf


LOL.. well, yeah, that's probably the *real* reason.. so I wonder what the official reason is. It really has no official reason being there.

Originally posted by Ron Paul Girl
Then, the last question was from a guy that asked, "Since you've doubled the money, don't you have to cut it back now and how are you going to do that?" That was great too. THe response was that they would need to sell assets.

The gold is at the Fed because it is needed to back up the GLD casino run by the COMEX. Basically the favored banks are printing paper gold in excess quantities - then they hold off a bit and let the gold price go up a bit near delivery dates, and people just cash the paper instead of taking the gold. Of course - if things go bad - you need a secret stash of gold you can access - off the books. That gold is of course the so called 'deep storage' gold - which is a myth. The banks would lose a lot of money in this scam - but I would bet an arm or leg that the cash is being supplied directly by the Fed - probably written in under the bailout money. Total scam and ripoff - to protect the US$ for a little longer - to give themselves time to get everything in place for destruction - and issuance of an alternative currency. (Not sure if they are still going to try the Amero - or all the guns and ammo bought in America has given them second thoughts).

I can also tell you with a surety that arrives like a bolt of lightening - the assets that will be sold will be the good real estate mortgages, and the buyer will be China. All the crappy mortgages have been returned to the banks with basically 100% insurance - so you know for sure they are the crappy ones.

Also - how come you go to lunch with these stiffs - but you've never been to lunch with me?

Seriously - you're my hero - keep up the fantastic work.

[edit on 3-6-2009 by Amagnon]

reply to post by Ron Paul Girl


Oh, I forgot to mention that he said to expect to continue to see job losses throughout the rest of the year. Sunny news!

I know it's a bit off topic, but not really....it is unbelievable, about the massive amounts of gold exported that the columnist says can ONLY come from the NY Fed...a MUST READ

Gold leaving country

Well, since you were eating the filet mignon and cheesecake partially paid for with my tax dollars, a thank you would be in order.

Of course, my contribution to the luncheon is approximately $0.000375 cents.


But still, free lunch at the taxpayers expense -- are you going for a federal job too?

reply to post by greenorbs


Don't worry, before long there won't be anything BUT federal jobs!!!!!