The Primary Owners of the Federal Reserve Bank Are:
1. Rothschild's of London and Berlin
2. Lazard Brothers of Paris
3. Israel Moses Seaf of Italy
4. Kuhn, Loeb & Co. of Germany and New York
5. Warburg & Company of Hamburg, Germany
6. Lehman Brothers of New York
7. Goldman, Sachs of New York
8. Rockefeller Brothers of New York
He said that he is a Professor of Modern American History but he does not know the terms of the Bretton Woods Accord or how the US dollar became the world's international currency. Maybe he can name every outfit that Lady Gaga ever wore and believes that is all there is to Modern American History.
There's a great bear cartoon, "The Federal Reserve Explained. It's about 8 minutes long. Very interesting. For example, why does the Fed purchase bonds from GS, instead of directly from the treasury?
Professor you really should take a course in remedial Modern American History. But I will try to explain it very simply so you can understand. The 400 tons of gold were deposited with the IMF as part of the Bretton Woods Accord (BRA) to back dollars used for international trade. The United States printed dollars for the gold it deposited and exchanged them for goods and services around the world. It is the same as when you put money in the bank and write checks to pay your bills. You then no longer have a claim on the money. The holders of your checks then have a claim on the money. The US put a hooker in the BRA that the dollars could not be redeemed for the gold without the US Congress agreeing. That does not mean the gold belonged to the US as the US had received payment for the gold when they traded the dollars for goods and services. So what is called the IMF selling gold is really the IMF redeeming dollars per the BRA. The US deflated dollars from 1944 to 2010 so the owners of a dollar took a beating and only got about a nickel's worth of 1944 gold.
You should drop the phony Professor tag go back to high school and learn something.
I did seval googles and nothing came up about Obama giving away gold. The closest was that the IMF needed US approval to sell IMF gold and the US congress gave its approval. However it was not US gold.
400 tonnes were given to the IMF from several countries, the U.S. - 225 tonnes, on the condition it never be sold without the approval of both the house and the senate. The gold was supposed to stay in Fort Knox. It was considered impossible to get the approval because any senator or congressmen voting to give our gold away would never be re-elected. Obama attached the approval to a bill that already had the votes needed to pass.
The citizens owned the gold and Obama took it.
Do a goog. There are several stories on Bloomberg that give the gory detail.
The Fed has over $11 billion in gold, which is a holdover from the days the government used to back U.S. Notes and Federal Reserve Notes with gold.. The value reported here is based on a statutory valuation of $42 2/9 per fine troy ounce. As of March 2009, the market value of that gold is around $247.8 billion.
That would be about $500 Billion at today's price. I wonder if the gold in Fort Knox is also priced at $42...?
Does anybody really know how much Gold we really have? Anyone done an inventory lately? Let's just keep the presses running. Eventually denial will turn to reality. The Urinal was invented by an Alcoholic that got tired of the toilet seat hitting him in the back of the head. What's the Fed going to invent next to continue the denial or the threat to the Dollar as the World reserve Currency? Not good!
The security, not to mention, is prime and best established.
This two level vault has a door weighing 24.6 tons, walls made
of granite and the strength of the building can be estimated
with the building materials used which include 16,000 cubic
feet of granite, 750 tons of steel, 670 tones of structural
steel and 4,200 cubic yards of concrete. No visitors are
allowed and no one person has access to all the combinations of
the vault, the entry being allowed only on president's orders.
The facility is classified to an extent to have been visited by
only two presidents Franklin Roosevelt and Harry S. Truman.
Now the main question, the actual gold reserves at the bullion
depository. According to the information from the US department
of the treasury about the U.S. mint, the present holdings of
gold at Fort Knox are 147.3 million ounces at $42.22 per ounce
book value. This is stored in the form of 368,000 gold bars of
400 troy ounces or 27.5 pounds of weight. The highest amount in
this century has been 649.6 million ounces in 1941 that is
amount enough to make 20 Statues of Liberty of pure gold. It is
also stated that no gold has been moved from the facility except
small amounts for purity checks during scheduled audits.
$2 Trillion total in Fort Knox
$2.5 Trillion combined Fort Knox and Federal Reserve N.Y.
Obama's total deficit for 2011 will be near $2 Trillion - one year
I guess you can scratch Lehman. They eat their own and consolidate. They all answer to the continued House of Rothschild. Seems the IMF is also under their control. The money always get what they want. In this case it is the demise of the U.S. Dollar as the Reserve Currency. Does anyone here remember the victory gardens. You can start yours now but it won't be called victory.