http://www.rense.com/general29/ringring.htm A Phone Call To The Fed From Dan Benham Â©1988-2002 email@example.com 9-8-2 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.