Federal Reserve Notes Are Backed By Gold
6 VotesIt is always good to know that the sacrifices I’ve made and the endless hours of research I’ve done don’t just fall on deaf ears…
I received an email a couple of days ago from a reader of my blog, who went above and beyond the call of duty to verify the research in my recent videos, not just taking it at face value. If only all of us did this with each others research, we would no doubt have a whole lot less confusion in our search for “truth”.
Besides my gratitude, I would also offer this man my highest accommodation of valor (if I had one) for taking the time to not only find the Comprehensive Annual Financial Reports (CAFR’s) I mentioned, but to read them and link them in his email.
Thank you, sir!
I’d like to share that email here…
“John Smith” wrote:
————————
–Begin excerpt–
————————Fact: The Federal Reserve Notes are backed by gold.
Yes, you read that right. The Federal Reserve notes are backed by gold.
Hitler (Joseph Goebbels) was right when he said, “If you repeat a lie enough times, people will believe it (paraphrase).”
I know what you are thinking. OK, John. Prove it.
If you look at page 453 and 490 of the 2009 Annual Financial Report of the Federal Reserve (CAFR) you will see there actually is collateral held against Federal Reserve Notes. This means the money we use is backed by something.
(LINK – http://www.federalreserve.gov/boarddocs/rptcongress/annual09/pdf/ar09.pdf)
What is it backed by?
There is the Gold Certificate Account (The Fed has the gold and the Treasury has the certificates.)
How much gold?
$11,037,000,ooo. worth of gold. This can also be found on page 61 of the Federal Government’s CAFR.
(LINK - http://www.gao.gov/financial/fy2010/10notes.pdf)How many (troy) ounces (of gold) is backing the Federal Reserve Notes? On page 62, the last paragraph reads:
“Gold is valued at the statutory price of $42.2222 per fine troy ounce. The number of fine troy ounces was 261,498,900 as of September 30, 2010, and 2009. The market value of gold on the London Fixing was $1,307 and $996 per fine troy ounce as of September 30, 2010, and 2009, respectively. Gold totaling $11.1 billion as of September 30, 2010, and 2009, was pledged as collateral for gold certificates issued and authorized to the FRBs by the Secretary of the Treasury. Gold certificates were valued at $11.0 billion as of September 30, 2010, and 2009, which are included in Note 19—Other Liabilities. Treasury may redeem the gold certificates at any time. Foreign currency is translated into U.S. dollars at the exchange rate at fiscal year-end. The foreign currency is maintained by various U.S. Federal agencies and foreign banks.”
How much money (Federal Reserve Notes) is in circulation?
All of that hard and easily liquidated currency is known as the M0 money supply. This includes the bills and coins in people’s pockets and mattresses, the money on hand in bank vaults and all of the deposits those banks have at reserve banks. According to the Federal Reserve, there was $908.6 billion in the M0 supply stream as of July 2009.
(LINK - http://www.federalreserve.gov/releases/h41/20090730/)
What is the real value of the Federal Reserve Notes?
This can be viewed 2 ways (statutory value or market value).
Let’s do some calculating:
The statutory price of gold is $42.2222 per ounce. The Fed is holding 261,498,900 ounces of gold This equals to $11,041,058,855.58 ($11 billion). There is $908,600,000,000 ($908 billion) in circulation. According to the statutory price of gold, the dollar is worth $.012 (Just over 1 cent per dollar).
The market price of gold is $1,307.00 per ounce. The Fed is holding 261,498,900 ounces of gold. This equals to $341,779,062,300.00 ($341.7 billion). There are $908,600,000,000 ($908 billion) in circulation. According to the market price of gold, the dollar is worth $0.37 (37 cents per dollar).
(Note: The average market price of gold is actually over $1,600 for November)
I guess the dollar really isn’t worth a dollar (in gold).
Warning: My lack of funds are being compensated by my knowledge.
———————-
–End excerpt–
———————-Again, my congratulations to John for taking the initiative to research and verify the facts (instead of just insulting the messenger).
.
–Clint Richardson (realitybloger.wordpress.com)
–Monday, November 21, 2011Advertisement -->
Tuesday, November 22, 2011
Federal Reserve Notes Are Backed By Gold « REALITY BLOG
Submit and Obey – What Will We Say? | Farm Wars
Barb’s Note: My Grandparents lived in the Ukraine. They immigrated to the U.S. in the very early 1900s. Sometimes it takes an outside perspective to shine the light on what is so difficult for those who have been incrementally indoctrinated by the system to see….. and that is the systematic destruction of every natural right afforded man to thrive.
Please read the following commentary by Lisa, and the full article written by Eric Peters, and reprinted with permission, about what we are facing. This is real. This is in our face RIGHT NOW. Don’t think so? Just Google raids on raw milk suppliers and family health food stores. Then for a giggle, try and take a flight without being molested by thugs in uniforms. Barb
Submission Training
I live in a country (The Netherlands) that was invaded in 1940 by Nazi Germany. The below article is a warning, and from the first-hand experiences I’ve heard from local Dutch people, this is PRECISELY what their daily lives entailed 70 years ago. These people had to wonder and plan, every day, what they would do when the Nazi’s came to their own door: to check for hidden weapons; to check for hidden food reserves; to check for hidden medicine stores; to check for ANGER on the faces of any persons in every house; to check for any sign of resistance to their dominant reality.
It’s no longer a “classified” secret that after the second world war, the leaders of the fledgling CIA offered a safe-haven for top Nazi military brass, scientists, professors, doctors, and all of their immediate family. This information can easily be found on the internet, by a simple check of it’s ‘code name’ Operation Paper-Clip. Go on, ‘Google’ it.
After 70 years, what kind of progress could those Nazi ideals, plans, methods, research, experiments, and IMPLEMENTATION have caused?- A total and complete overhaul of all of American society. Start looking around to prove me wrong. I dare you. I implore you to prove me wrong.
Lisa
http://stienster.blogspot.com/
What Will We Say?
By Eric Peters
What will we say when the government announces that “for security reasons” it will begin conducting random checks of our homes? That we will be required by law to open our doors and stand aside while government agents do a walk-through, just to “be sure” and (of course) “to keep us safe”?
It is a serious question, not (as I will be accused of purveying) exaggerated or paranoiac. After all, we are already told specifically that we have no legal expectation of privacy when we’re out in public and it’s been implicit for years now that we have very little left in the way of Fourth Amendment rights anywhere – even in our own homes. See, for example, the recent Indiana Supreme Court decision that a homeowner has no right to resist even an illegal, warrantless and probable cause-free entry by cops. A cop, possibly psychotic, without doubt armed and packing the state’s authority to administer lethal violence – can literally kick in your door, for absolutely no lawful reason whatsoever – and if the homeowner resists, it is the homeowner who is in violation of The Law. If, say, you are asleep in bed and are awakened suddenly by the sound of your door being kicked in and you – fearing for your life – grab the pistol you keep by your bed and shoot the unknown berserker, it’s you who will go to prison!
“We believe,” said these latter-day Roland Freislers, that “… a right to resist an unlawful police entry into a home is against public policy and is incompatible with modern Fourth Amendment jurisprudence.” (Italics added) “We also find that allowing resistance unnecessarily escalates the level of violence and therefore the risk of injuries to all parties involved without preventing the arrest.”
And of course, we are told that we must Submit and Obey at airports. But that is hardly the end of it. As predicted, submission training is being expanded to bus stations and Interstates. The Department of Homeland Security is deploying its VIPR (Visible Intermodal Prevention and Response) squads of khaki-clad, sidearm-wearing, black shirted American SA all over this land for the sole purpose of further routinizing random, probable cause-free searches and, of course, assaults on what used to be regarded by most people as their inviolable personal space. Get people to accept crotch grabs and they will soon accept anything. The government knows this – which is precisely why the government is doing this. There is simply no rational reason, for example, to herd people leaving a train or bus into a gantlet of cops for a session of Submit and Obey. Yet this has been done – is being done – and will continue to be done. Because it acclimates people to the unreasonable, the unfair – the abusive. It is the whole point of the exercise, you see.
Now then. What will be the reaction when the goons in Washington announce that “terrorists” are finding refuge in “safe houses” – private homes? There could be a Manhattan Project in your next door neighbor’s basement – perhaps in your basement… .
Far-fetched? Paranoid? Really? More far-fetched than crotch-grabbing 7-year-old white kids on the theory that their parents might be secret A-Rabs who perhaps bleached their progeny and outfitted said child with radioactive Underoos? Or demanding that crippled 80-year-olds remove their Depends for similar reasons? Or that because there might be a drunk driver out there on the roads, every single driver who happens to be on the road automatically forfeits his (former) Fourth Amendment rights? Or that it is now illegal – in Indiana, at least – to resist an armed intrusion by a costumed thug into one’s own home?
It is not paranoid – and far from being far-fetched – to imagine where this will all inevitably lead. We – enough of us to give the illusion of consent, at least – have already conceded the principle. That “security” justifies almost anything. And probably, very soon, everything.
We shall see.
© 2011 Eric Peters
Newt Gingrich: Child Labor Laws Are 'Stupid'
Newt Gingrich: Child Labor Laws Are 'Stupid'
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"the higher a student's grade point average, the more likely they are centrally involved in the protests." #UCD http://t.co/BH
The Huffington Post Luke Johnson
Funny
Typical
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Outrageous
Amazing
Innovative
Finally
Republican presidential candidate Newt Gingrich called child labor laws "stupid" Friday in an appearance at Harvard's Kennedy School of Government.
"It is tragic what we do in the poorest neighborhoods, entrapping children in, first of all, child laws, which are truly stupid," said the former House speaker, according to CNN. "Most of these schools ought to get rid of the unionized janitors, have one master janitor and pay local students to take care of the school. The kids would actually do work, they would have cash, they would have pride in the schools, they'd begin the process of rising."
"You're going to see from me extraordinarily radical proposals to fundamentally change the culture of poverty in America," he added.
Generally, the Fair Labor Standards Act allows minors over 14 to work in most jobs, with several exceptions for minors under that age. Hours are limited for minors under the age of 16. Some states have higher age standards.
He also said Saturday Occupy Wall Street protesters should "take a bath" and "get a job."
Gingrich has risen in the polls to a virtual tie with former Massachusetts Gov. Mitt Romney, according to a Gallup poll released Monday.
He still faces questions over his role as a consultant for Freddie Mac, for which he was paid at least $1.5 million for strategic advice from 1999 to 2007. Gingrich has denied ever lobbying for the company and had criticized then-candidate Barack Obama for accepting campaign contributions from the firm. In an interview with USA Today published Monday, he said, "You start with people with a socialist bias that you shouldn't earn money. If you do, "you're automatically suspicious of having done something bad," he added.
Timothy Carney of the Washington Examiner disputed Gingrich's claim that he was never a lobbyist. The columnist reported that the former House speaker tried to convince Capitol Hill Republicans to add a prescription drug benefit to Medicare while being paid for by drug companies. Gingrich denied the report Monday, saying he publicly advocated the benefit and was doing well financially at the time.
Gingrich unveiled a plan Monday to allow younger workers to invest their Social Security in private retirement accounts, similar to an unsuccessful plan proposed by former President George W. Bush.
In an interview over the weekend with the Christian Broadcasting Network, Gingrich was asked how he is a better candidate than in the past. He said, "I do fewer dumb things."
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