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Originally posted by dazbog
reply to post by eLPresidente
During the course of that audit by the IG they also discovered that the FRB holds, as in owns, 10% of OUR gold reserves. Every single Banking Committee Hearing they have denied holding any gold other then Gold Certificates. Two lawyers for the FED and Bernanke have made this statement on several occasions. One is not required to be under oath when addressing the Banking Committee. That audit did discover a great deal, although it was still limited in scope. The mere fact that they exist at all is a slap in the face to all Americans. Most don't know, some don't care and Congress LOVES them. An endless supply of money. The FRB currently holds 50% of treasury bonds. China 6.5 followed by Japan. Additionally one may disregard the yearly money given back to Treasury. Timmy is offered two options. Send it to the General fund OR pay the interest on the debt. to the FRB. I'd suggest ole Tim simply gives it back to Benny. Bottom line for us Americans is we will NEVER be able to touch the principal when every dollar printed is debt + interest + these are collateral based loans. That is a fact and the FRB has no problem telling you, if you ask the right questions. They will attempt to dodge the 10% Gold bullet by stating we / they went off the Gold Standard. Then you ask again quoting the IG. Finally they will tell you they redeem their Gold Certificated for physical delivery of OUR GOLD which they have legal claim to because it was pledged as collateral on the originating loans. ASK EM !