You can make a phone call to the FED like this guy :D

Discussion in 'Economics' started by harrytrader, Dec 3, 2003.


    A Phone Call To The Fed
    From Dan Benham ©1988-2002

    The following is a conversation with Mr. Ron Supinski of the Public Information Department of the San Francisco Federal Reserve Bank. This is an account of that conversation.

    CALLER - Mr. Supinski, does my country own the Federal Reserve System?

    MR. SUPINSKI - We are an agency of the government.

    CALLER - That's not my question. Is it owned by my country?

    MR. SUPINSKI - It is an agency of the government created by congress.

    CALLER - Is the Federal Reserve a Corporation?

    MR. SUPINSKI - Yes

    CALLER - Does my government own any of the stock in the Federal Reserve?

    MR. SUPINSKI - No, it is owned by the member banks.

    CALLER - Are the member banks private corporations?

    MR. SUPINSKI - Yes

    CALLER - Are Federal Reserve Notes backed by anything?

    MR. SUPINSKI-Yes, by the assets of the Federal Reserve but, primarily by the power of congress to lay tax on the people.

    CALLER - Did you say, by the power to collect taxes is what backs Federal Reserve Notes?

    MR. SUPINSKI - Yes

    CALLER - What are the total assets of the Federal Reserve?

    MR. SUPINSKI - The San Francisco Bank has $36 Billion in assets.

    CALLER - What are these assets composed of?

    MR. SUPINSKI - Gold, the Federal Reserve Bank itself and government securities.

    CALLER - What value does the Federal Reserve Bank carry gold per oz. on their books?

    MR. SUPINSKI - I don't have that information but the San Francisco Bank has $1.6 billion in gold.

    CALLER - Are you saying the Federal Reserve Bank of San Francisco has $1.6 billion in gold, the bank itself and the balance of the assets is government securities?

    MR. SUPINSKI - Yes.

    CALLER - Where does the Federal Reserve get Federal Reserve Notes from?

    MR. SUPINSKI - They are authorized by the Treasury.

    CALLER - How much does the Federal Reserve pay for a $10 Federal Reserve Note?

    MR. SUPINSKI - Fifty to seventy cents.

    CALLER - How much do they pay for a $100.00 Federal Reserve Note?

    MR. SUPINSKI - The same fifty to seventy cents.

    CALLER - To pay only fifty cents for a $100.00 is a tremendous gain, isn't it?

    MR. SUPINSKI - Yes

    CALLER - According to the US Treasury, the Federal Reserve pays $20.60 per 1,000 denomination or a little over two cents for a $100.00 bill, is that correct?

    MR. SUPINSKI - That is probably close.

    Source: ** Federal Reserve Directors: A Study of Corporate and Banking Influence ** - - Published 1976

    Brilliant. The 2 best ways to funnel taxpayer money from the US treasury to private hands:

    . Federal Reserve (tax money to private bankers)

    . War ( tax money to MIC -Military Industrial Complex- on top of issuing additional debt backed by the us taxpayer)

    Well... the real question is, what will happen when the taxpayer will not be able to service the notes anymore? Interesting times ahead indeed.

  3. Cutten


    And your point is?
  4. JayS


    You learn all of this in most basic freshmen finance classes.
  5. Cutten


    Exactly - that's how fiat currency works in every country in the world.
  6. And did they learn you how it ALWAYS finish ?

  7. Yes since hundreds of years - and even thousands of years as I am reading the history of banking under Roman Empire :D -
    and each time it finishes very badly especially for those who were considered as riches and even middle riches - since the poors have nothing to lose - because credits are made more to riches than to the poors and more and more to the government in the name of people. And what happens when these debts ineterests cannot be honored any more because as it is said above they are layed on taxes ... when population is getting older and older for example ?

  8. And did they learn you the answers to the questions below since the FED guy can't give them to us ?

    CALLER - Since the debt is payable in Federal Reserve Notes, how can the $4 trillion national debt be paid-off with the total Federal Reserve Notes in circulation?

    MR. SUPINSKI - I don't know.
    CALLER - Why is there a current House Resolution 1486 calling for a complete audit of the Federal Reserve by the GAO and why is the Federal Reserve resisting?

    MR. SUPINSKI - I don't know.

  9. ertrader1

    ertrader1 Guest

    First of all....that conversation is bullshit. PERIOD. No one from the Fed Reserve is going to answer all those questions. PERIOD.

    That site is a DOOMSDAY site for a bunch of wacked out socialist that are pissed because both socialism and comunism are dead.

    Second: The FED RESRV, is not going to cause a CRASH or Bank Failuer in our life time or the life time times 10.

    So...all this crap about the up and coming bank Failuer and the up and coming monetary crises is BULLSHIT. Japan banks didnt disapear, none- of the Asian Tigers took a doomsday hit on thier banking system during the Asian crises,,,,the EURO ZONE is in debt up to their arses and the Euro is on fire.

    The worst that will happen is Deflation period causing a depression ......not total collapse of the banking system or monetary value. THAT IS THE WORSE CASE.
    #10     Dec 3, 2003