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Do you admit
that our government, the United States of America, does not own
any of the stock in the Federal Reserve Banks?
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Do you admit
that the Federal Reserve System consists of a Board of Governors
in Washington D.C., plus a group of privately held (but privately
and publicly administered) Corporations, including 12 main banks
and 32 regional branch banks?
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Do you admit
that the President, with the advice and consent of the Senate,
appoints all 7 members of the Federal Reserve Board?
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Do you admit
that the Federal Reserve’s member banks are controlled by
private individuals and corporations, often acting in concert,
that receive profits from their ownership and operation of our
country’s monetary system?
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Do you admit
that the Federal Reserve Board is a government agency or instrumentality?
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Do you admit
that for the first twenty years, Federal Reserve Notes (FRNs)
had to be redeemed in lawful money by Reserve Banks and member
banks (12 U.S.C. Section 411); or, failing redemption, the United
States could assert a lien on all the Reserve banks’ assets
(12 U.S.C. Section 413)?
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Do you admit
that since 1933 FRNs may be redeemed only by other FRNs?
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Do you admit
that our money, the Federal Reserve Notes, with the exception
of minor or trivial amounts, are not backed by anything other
than the federal government’s power to collect taxes?
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Do you admit
that since 1933 currency issues, including FRNs, have been created
and are created with no external limit from nothing but paper
and ink?
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Do you admit
that the assets of the Federal Reserve System are not composed
of anything other than about $11 billion of gold certificates
in the Federal Reserve Banks, about $16 billion foreign exchange,
about $2 billion Special Drawing Rights (SDRs), about $22 billion
of premises and equipment of the Federal Reserve Banks themselves
and about $591 billion of government securities, plus about $32
billion of Repurchase Agreements or, do you believe the Federal
Reserve System owns or has claims to assets that the System does
not list in its normal public disclosures?
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Do you admit
that the total assets of the Federal Reserve equals about 682
billion dollars?
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Do you admit
that all gold owned by the Federal Reserve System was handed over
to the Treasury Department in 1934 and that the Federal Reserve
received certificates for the gold and carries these certificates
as assets at $42.22 per ounce ($11 billion total value)?
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Do you admit
that the Federal Reserve System’s 12 main and 32 branch
banks obtain Federal Reserve currency notes from the Bureau of
Printing and Engraving for approximately two cents per piece of
paper, regardless of denomination, and uses them to purchase Treasury
debt for which the Treasury is liable for the full face amount
of each bill, note or bond, plus interest?
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Do you admit
that, except for discounted bills, by selling a $100 US Treasury
Security to the Federal Reserve, the federal government is agreeing
to pay the Federal Reserve the full amount of the principal of
the Security ($100) plus an interest payment?
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Do you admit
that it is estimated that only $263 billion in Federal Reserve
Notes are in circulation in the USA (approximately 40%)?
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Do you admit
that it is estimated that the other $362 billion in Federal Reserve
Notes are in circulation overseas (approximately 60%)?
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Do you admit
the national debt, the sum total of all outstanding US Treasury
Securities ( not including governmental guarantees and other contingent
and conditional obligations), is approximately $6 trillion?
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Do you admit
that the $6 trillion national debt can never be paid-off with
the Federal Reserve Notes if there are only $625 billion Federal
Reserve Notes in circulation (absent a long-term, extraordinarily
oppressive and over-burdensome system of taxation aimed at circulating
the currency back into the government’s hands), i.e., that
the supply of "currency" whether in either physical
FRNs or accounting/book entries must be increased endlessly (inflation)
in order to make the payments of interest and principal on both
national and privately held debts that are denominated in FRNs?
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Do you admit
that when a worker "deposits" his paycheck in a bank
or writes a check, there is NO exchange of actual FRNs and only
an accounting entry takes place and that for every $1 deposited
in a member bank, approximately $9 can be lent out through the
Fractional Reserve Policy and, in any event, the public is never
informed of the inherently unstable nature of the system?
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Do you admit
that whereas Federal Reserve Notes are units of exchange , bank
money (credit money) is units of account , and absent laws requiring
a higher reserve requirement, banks can expand deposit accounts
to 9+ times exchange ?
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Do you admit
that when a member bank lends a customer "money" it
merely credits the customer’s account with a book entry,
never actually depositing Federal Reserve Notes in the customer’s
account?
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Do you admit
this is the reason why only $263 billion Federal Reserve Notes
in domestic circulation have been pyramided to support a $10 trillion
dollar economy?
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Do you admit
that when the Federal Reserve Act was passed (on Christmas Eve)
in 1913, Federal Reserve Notes became one of four forms of competing
currency (specie, treasury notes or greenbacks, national bank
notes and FRNs)?
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Do you admit
that in 1933, Congress passed a law making Federal Reserve Notes
"legal tender," thereby transferring the power to coin
and issue our nation's money from Congress to the Federal Reserve?
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Do you admit
that in 1933 (revised in 1935), Congress passed a law purportedly
transferring the power to regulate interest rates and thereby
the relative value of money, from Congress to the Federal Open
Market Committee (currently comprised of up to 7 members of the
Board of Governors and up to 5 voting representatives of Federal
Reserve Banks)?
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Do you admit
that our country now borrows what should be our own money from
the Federal Reserve (a "private" corporation that is,
in fact, heavily politically influenced by the President through
the Secretary of the Treasury), paying interest for the privilege?
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Do you admit
that the Secretary of the Treasury and the Federal Reserve have
knowledge of and has acted in close coordination with the Treasury
Department’s Exchange Stabilization Fund (ESF) to manipulate
and suppress the price of gold in an effort to keep the perceived
value of the dollar relatively high?
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Do you admit
that the Secretary of the Treasury and the Federal Reserve have
acted in close coordination with the central banks and governments
of foreign nations to suppress the price of gold?
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Do you admit
that a portion of the ownership of the Federal Reserve is held
by foreign entities and that the current statutes allow for ownership
of a controlling interest in its Federal Reserve Bank stock?
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Do you admit
that there is a risk that there could be significant and unavoidable
conflicts of interest between the private (and not insignificantly
foreign) owners of the Federal Reserve Banks and the American
people that are forced by law to use its FRNs?
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Do you admit
that the Treasury Department’s ESF has directly engaged
and/or colluded with foreign governments and/or central banks
to intervene in the world’s financial markets in order to
manipulate market outcomes?
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Do you admit
similar manipulation regarding gold and equity markets?
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Do you admit
that the Treasury Department’s ESF, under U.S. law, is held
accountable only to the President and its books and records are
open for public examination only through a limited degree and
untimely disclosures?
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Do you admit
that the whole of the Federal Reserve System has never been independently
audited?
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Do you admit
that there is a currently pending House Resolution calling for
a complete audit of the Federal Reserve by the General Accounting
Office?
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Do you admit
the Federal Reserve Board is resisting a complete audit of the
books and operations regarding foreign exchange trading, government
securities trading, and transactions with or for the account of
foreign central banks and monetary authorities?
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Do you admit
the Federal Reserve interferes with the free market’s effect
on the value of Federal Reserve Notes by trying to regulate the
value of all Federal Reserve Notes?
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Do you admit
that the Federal Reserve determines the amount of money in circulation
and the price of credit (including mortgage and car loan rates)?
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Do you admit
the Federal Reserve, at its sole discretion, decides what the
rate of interest will be that the federal government will pay
to the Federal Reserve?
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Do you admit
that the Federal Reserve Board consults closely with the Secretary
of the Treasury before every important monetary policy move and
that Alan Greenspan consults with the Secretary of the Treasury
before each Federal Open Market Committee meeting?
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Do you admit
that under Article 1 Sections 1 and 8 of the federal Constitution,
only Congress, which comprises only the Senate and the House of
Representatives, has the power to coin money (silver and gold
coin) and regulate the value thereof?
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Do you admit
that no provision of the Constitution gives Congress the authority
to transfer any powers granted under the Constitution to a private
corporation?
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Do you admit
that the Federal Reserve Board is repugnant to the Constitution?
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Do you admit
that the Federal Reserve Banks are repugnant to the Constitution?
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Do you admit
the Constitution specifically states that the enumeration of certain
rights shall not be construed to deny or disparage others retained
by the People, and that the powers not delegated to the United
States by the Constitution, nor prohibited by it to the States,
are reserved to the States respectively, or to the People (ninth
and tenth amendments)?
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Do you admit
the United States of America is not just one more undifferentiated
trading outpost in some great global economy?
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Do you admit
the United States of America belongs to We The People?
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Do you admit
the medium of exchange, that is, the money we use in our country,
is an instrumental element of national sovereignty and is supposed
to be under our control?
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Do you admit
that if our government needed to spend more money than it is taking
in, the Treasury does not have to use the Federal Reserve System
– the government could print the additional money, put it
into circulation and withdraw it as necessary -- i.e., that we
do not have to borrow our own money from any central bank?
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Do you admit
the Federal Reserve System has never been declared constitutional
by the Supreme Court?
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Do you admit
there has never been a Supreme Court case regarding the constitutionality
of the Federal Reserve System?
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Do you admit
that all elected officials are required to take an oath of office
to support the Constitution?
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Do you admit
that to the extent that Congress enacts or facilitates avoidance
of clear and explicit language of the Constitution that Congress
is undermining the Constitution?
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Do you admit
certain elected and appointed officials, including the President,
elected members of the Congress, and appointed members of the
Board of Governors of the Federal Reserve System are guilty of
aiding and abetting the undermining of clear and explicit language
of my Constitution?
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Do you admit
this fits the common definition of tyranny?
