Karen Hudes is an attorney and economist who served 20 years in the World Bank’s legal department. The World Bank refused to provide the report of the Executive Search Firm to U.S. Congress following Hudes’ disclosure of internal control lapses during her interview for General Counsel of the World Bank. Karen Hudes describes the corruption in the international financial system and threat to democracy in the U.S. as follows:
Karen Hudes (nsnbc),- The failure of the press to report accounting scandals at the World Bank involving the U.S. Treasury Department, the Federal reserve, U.S. Congress, and the federal courts is eroding confidence in the dollar as international currency.
Legislation in U.S.. states to recognize gold and silver bullion coins as legal tender and requests by countries to repatriate their gold held by the Federal Reserve are exposing financial institutions who control
the media and the Federal Reserve.
Convertibility of Dollar into Gold
The German Federal Bank, Bundesbank, announced on January 16, 2012 that Germany is repatriating 300 tons of gold from the New York Federal Reserve. The U.S. took gold for “safe keeping” from more than 60 countries at the end of World War II. Germany´s announcement followed three months after the Federal Reserve refused Germany´s request for a physical inspection of vaults in which Germany´s gold was stored. Instead, the U.S. Treasury Inspector General´s Office published a paper audit.