By Rory | Daily Coin
I sat down with Chris Powell, Secretary/Treasurer GATA, to discuss what is happening in the world of silver and gold “market” rigging. The picture Chris paints is accurate and ugly. As I am editing the recording it dawned on me that our world is a disaster, primarily at the hands of the U.S. foreign policy and the debt instrument U.S. dollar. The U.S. dollar is now a parasite that most governments, around the world, see as nothing more than a tool that creates war and problems in their nation. Why else would the dollar be outlawed in Russia and China conducting business using direct currency swaps instead of the “reserve currency” U.S. dollar?
If you trust your government, good for you. If you don’t, you may want to consider having a little silver and gold to protect yourself from their treasonous ways. Our world is changing at an ever increasing pace and you can either protect yourself or be swept away in the unfolding currency war or hot war. The governments around the world could care less about you and your family. You are merely an ATM to fund their wars and provide them with entertainment. Once you have served those two purposes…well, into the trash bin.
Nuclear weapons can only destroy the world, but since gold is the primary mechanism of the rigging of the currency market and related markets, it is also the most valuable object for exploiting the world. If you want to destroy the world that’s one thing, if you want to exploit the world what you have to do is control the currency market and gold is necessary to do that. ~Chris Powell
Our world is drenched in war. According to a recent report the U.S. has troops or some type of military operation in 147 countries or 75% of the world. Does that sound like an empire? Why would that be necessary? What could your community do with a portion of the funds that it cost to operate this empirical nightmare? The U.S. should have the finest roads, bridges, hospitals, schools and the highest educational standards in the world, but instead, we have war; death and destruction as far as the eye can see. As I have stated on numerous occasions the U.S. business model is war and the U.S. dollar is backed by war. We have been reduced to manufacturing war instead of cars, garden tools and clothing.
In order to better understand how all this is possible we must look at the source of funding. War is not cheap and the maintenance of war has a very high cost; not just in lives lost and communities destroyed but in the actual funding. From where does this funding materialize?
The scandal is not what’s illegal, but what’s perfectly legal. ~Charles Peters
The Exchange Stabilization Fund (ESF), which is a function of the U.S. Treasury, answers to no one, not even Congress. The laws surrounding the ESF were put into place in order to hide what happens with the money. Here is how the U.S. Treasury explains what the ESF actual is and does:
The Exchange Stabilization Fund (ESF) consists of three types of assets: U.S. dollars, foreign currencies, and Special Drawing Rights (SDRs), which is an international reserve asset created by the International Monetary Fund. The financial statement of the ESF can be accessed at “Reports” or “Finances and Operations.”
The ESF can be used to purchase or sell foreign currencies, to hold U.S. foreign exchange and Special Drawing Rights (SDR) assets, and to provide financing to foreign governments. All operations of the ESF require the explicit authorization of the Secretary of the Treasury (“the Secretary”).
The Secretary is responsible for the formulation and implementation of U.S. international monetary and financial policy, including exchange market intervention policy. The ESF helps the Secretary to carry out these responsibilities. By law, the Secretary has considerable discretion in the use of ESF resources.
The legal basis of the ESF is the Gold Reserve Act of 1934. As amended in the late 1970s, the Act provides in part that “the Department of the Treasury has a stabilization fund …Consistent with the obligations of the Government in the International Monetary Fund (IMF) on orderly exchange arrangements and an orderly system of exchange rates, the Secretary …, with the approval of the President, may deal in gold, foreign exchange, and other instruments of credit and securities.
And from Wikipedia:
The fund began operations in April 1934, financed by $2 billion of the $2.8 billion paper profit the government realized from raising the price of gold to $35 an ounce from $20.67. The act authorized the ESF to use its capital to deal in gold and foreign exchange to stabilize the exchange value of the dollar. The ESF as originally designed was part of the executive branch not subject to legislative oversight.
If you listen, the criminals in charge will always tell you what they are stealing and how they are stealing it. Your responsibility is to listen and act. Even if the citizens were to band together and demand full accountability of this fund – which is our money – the laws are written to deny us access! Can you say treason? Sure you can.
All we know about the Exchange Stabilization Fund is what the law authorizes it to do. It’s powers have been expanded, so that it is authorized to trade secretly, not only in gold but, in any financial instrument what-so-ever. While we would like to call market rigging criminal, in a metaphorical sense, it’s a matter of law in the United States.~Chris Powell
So, our world is drenched in war, the U.S. has military personal/equipment covering 75% of the planet and, by law, a secret fund, with absolutely no oversight from anyone, is allowed to rig any and all markets and financial instruments! WOW. Is it just me or does something seem out of balance with this scenario?
“They hate us for our freedom.” ~George W. Bush
We can only guess at the real exchange rate for gold and silver. The propaganda instruments, formally known as markets, are all rigged by governments around the world. It is no secret some of the “too big to jail” banks have been “fined” for rigging the LIBOR market and FOREX market. LIBOR (London Interbank Overnight Rate) determines the amount of interest the banks pay one-another for short term overnight “loans”. This has been found to be rigged, in a court of law. The FOREX (Foreign Exchange), currency exchange market, has also been found to be rigged, in a court of law. If you think either of these markets don’t have a direct impact on your life, I ask, what do you “own” that you are currently paying interest? What about a credit card? If you possess something that you are currently paying interest, both of these rigged markets have a direct impact on your wealth, your ability to garner more credit and your ability to save for your future.
If all markets are rigged and their lies a function within the U.S. Treasury that answers to no one (the ESF), who is to say this function of the Treasury is not funding the wars? Who is to say this function within the U.S. government is not rigging the markets or providing the information to the “too big to jail banks” for them to do the actual dirty work? Who is to say this secret function of the U.S. Treasury is not THE source of the unfolding nightmare within our economy and financial systems – THE WORLD OVER? You can not say the ESF is not doing these things as they answer to no one. Until the system implodes we are stuck with rigged markets, propaganda and endless war.
Via Daily Coin