<\/p>\n
Rev. 8\/17\/22<\/span><\/p>\n \u201cWhat difference does an increase in the National Debt make? We owe it to ourselves.\u201d is something that virtually every Keynesian has declared. Such a federal program gives the government\/Congress purchasing power not previously available\u2014to buy votes<\/a> (and campaign contributions) from home.\u00a0 Unfortunately, the inflation created dilutes the purchasing power and value of assets owned by individuals.<\/p>\n The methodology and extent of the transfer of wealth has been exponentially altered by the Federal Reserve\u2019s use of QE—without public awareness—within the recent 24 years.<\/b><\/p>\n Keynesism, an euphemism for inflation by credit expansion and similar to Modern Monetary Theory, is a justification of debauching the currency for the benefit of government and bankers.1<\/sup><\/a> As Lenin said: \u201cThere is no subtler, no surer means of over-turning the existing basis of society than to debauch the currency.\u201d\u00a0\u00a0 A coup, with financiers foreclosing on the $28 trillion debt, is the ultimate object. Think Greece. 2<\/sup><\/a><\/p>\n Benjamin Ginsberg has compiled historic European Rothschild banking entities that left the host nation in chaos and revolt. 3<\/sup><\/a> 4<\/sup><\/a> 5<\/sup><\/a> Law professor Tayyab Mahmud has shown, in 91 pages, more current transfers of various nation\u2019s wealth to financiers during national bankruptcy which have resulted in poverty for the citizens. 6<\/sup><\/a><\/p>\n The Federal Reserve system conceals the immense transfer of value to financiers which has justified the intense subterfuge and chicanery necessary for the Fed\u2019s creation.\u00a0 An existing structure for a bankruptcy transfer of national wealth to covert owners of the FRBOG, Inc., is suggested in this writing. World travelers have observed tactics used to dominate foreign nations by civil turmoil are being developed in the U.S. 7<\/sup><\/a><\/p>\n Medieval Rothschild banks established a line of credit for the King provided he pledged collateral with a written promise (a security) to pay gold with interest to the bearer.\u00a0 The book-entry Rothschild credit was used to satisfy obligations incurred by the king. 8<\/sup><\/a> The credit continued to be circulated in the kingdom between merchants. The bankers sold the king\u2019s interest-bearing promise to investors for hoarded gold. The promise (security) was renewed by the bank on its maturing date and became perpetually rolled-over. 9<\/sup><\/a><\/p>\n VOILA !!! <\/strong>The king made the suppliers of services happy with Rothschild credit; the bankers had the gold from investors; the investors gained interest on their assets and a promise the king would eventually return their gold\u2014which would never happen. 10<\/sup><\/a> Everything went smoothly as long as the bankers could sell the promise and the investors, or merchants, did not demand the gold. 11<\/sup><\/a> The king would pay the interest with more credit from the bank so the credit cost nothing.\u00a0 After the hook was set, the bankers would demand token \u2018good faith\u2019 payments of gold from the king until he was destitute. The gold backing of the security was removed by law. The schemes stole the wealth from the people with its book-entry fiat money 12<\/sup><\/a> until the angry people brought a catastrophic climax. 13<\/sup><\/a><\/p>\n The Federal Reserve System does the same thing with the U.S. government\u2019s deficit spending. The banking wizard is hiding behind Frank Baum\u2019s curtain of the government image Federal Reserve marquee 14<\/sup><\/a> as obscurant to any public inquiry.15<\/sup><\/a> The Federal Reserve Bank of New York will grant credit (not \u201ccreate money\u201d) in an account of the U.S. government in an amount that the government will pledge. 16<\/sup><\/a> The government will expend the book-entry credit account (deficit spending) to pay for goods and services consumed by the government.\u00a0 The suppliers are content.<\/p>\n Evidence that the supplier has received a credit voucher is obvious. The heading of the currency given to the supplier by a local commercial bank is Federal Reserve Note; i.e., a debt obligation of the Federal Reserve. Historically, it was identified to be redeemable for gold, silver, or lawful money.\u00a0 It is now identified as a \u201ctender\u201d\u00a0 (substitute) required by law to be accepted for an imprinted number of dollars. What you have is what you get.\u00a0 [It is touted to the public as a loan.] 17<\/sup><\/a><\/p>\n To sell the promise from the government at the highest price,\u00a0 the Federal Reserve (as fiscal agent for the government) will hold an auction but will imply it is an auction by the government. 18<\/sup><\/a> \u00a0 Acceptance of bids, determining the interest rate, and the amount of deficit spending permitted is controlled by the BOG.19<\/sup><\/a> Government regulations establish the funds from the auctions are controlled exclusively by the FRBNY; i.e., a franchisee of the BOG.20<\/sup><\/a> These accounts of government money have never been audited, despite misleading GAO statements.21<\/sup><\/a> They are client accounts\u2014not operational accounts.<\/p>\n The roll-over of approximately $14 trillion debt from prior years (publicly held maturing) is annually auctioned and disbursed by the FRBNY.\u00a0\u00a0 The approximate $1 trillion auctioned for deficit spending is evidenced by TreasuryDirect as \u201cnew cash.\u201d 22<\/sup><\/a> \u00a0 [Currently new cash can be 100% to a negative (input) of the issue.]\u00a0 Since all values are determined by the Fed, they must be given to TD.<\/p>\n The difference in handling of the two accounts is the supreme camouflage.\u00a0 Funds for roll-over securities are credited by the FRBNY to a government account.\u00a0 The FRBNY then pays the Primary Dealers among others (from the government account) for their task in collecting the maturing securities from the public.\u00a0 There is no increase in the National Debt nor is there any inflation as a result from these rollover transactions.<\/p>\n If the funds from deficit spending securities (new cash) were to be used in redeeming Treasury securities in the market (i.e., paid by the FRBNY for government expenses), it would eliminate any increase in the National Debt<\/a>. It would, in effect, buy back the securities that created the debt. It would also eliminate any increase in money in circulation (inflation). That clearly does not occur.\u00a0 Request for documentation from TreasuryDirect as to the destination of the funds are ignored.<\/p>\n WHERE DO FUNDS FROM THE AUCTIONS OF <\/strong>DEFICIT SPENDING SECURITIES GO ??<\/strong><\/p>\n The professor asked the class several decades ago: \u201cWhat happens to the deficit spending Treasury securities that the Treasury Department transfers to the NY Federal Reserve Bank as authorization [as collateral] for the creation of fiat [book-entry] money?\u201d <\/span><\/p>\n ANSWER: The \u2018deficit spending\u2019 amount becomes a [appx 10%] component of the \u2018roll-over\u2019 securities auctioned to replace maturing securities in the market place. The component used to be separately tabulated in TreasuryDirect Institutional tabulations as \u2018new cash\u2019 but that identification appears to have disappeared. <\/span><\/p>\n The FRBNY has exclusive statutory for disbursement [and any related operation they wish to claim] for the disbursement of the annual appx $15 trillion auction accounts. Ref. 31 CFR 375.3. The GAO has twice reviewed<\/b><\/i> <\/b>the security features of the digital form the FRBNY composed for on-line submission of bids but the accounts have never been audited<\/b><\/i>. <\/span><\/p>\n The \u2018roll-over\u2019 component goes in large part to the Primary Dealers for their task of collecting maturing securities from the market. TreasuryDirect could not identify any documented destination for the \u2018new cash\u2019 component upon request. The column then disappeared from the internet.<\/span><\/p>\n If \u2018new cash\u2019 was transferred to the government it could either pay expenses or it could purchase Treasury securities. It does not show up on any income-expense accounts of the government. If it was used to retire [purchase] Treasury securities, it would negate the increase in the National Debt created when the security was issued. It would also eliminate the book-entry value [inflation] created when the security was issued. Neither of these results occur. The \u2018new cash\u2019 component cannot go to the government. The only optional destination is that the funds must go to a private entity. <\/span><\/p>\n Various writers have offered lists of owners of the Federal Reserve. It is suspected they are unconfirmed speculation. In fact, the FR system does not lend itself to a corporate structure; it has no CEO. However, the Board of Governors does have a CEO and a corporate staff. A closely held corporate structure that is not required to file information with the SEC is suggested. That shareholders are among the Primary Dealers appears as a foregone conclusion. Co-mingling funds from two auction functions offers a convenient cover. That they. among the TBTF banks, receive the \u2018new cash\u2019 as profit from the auctions of Treasury securities appears as a motive for a furtive trip to Jekyll Island. That the \u2018new cash\u2019 as profit belongs to the government appears to be statutory. Ref. 12 U.S.C. \u00a7 289. <\/span><\/p>\n Would the withholding of the funds from the government constitute embezzlement ?23<\/sup><\/a> It would appear the loss is $4 billion daily [per each trillion of annual deficit spending] and has been $30 trillion over the past 100 years.<\/span><\/p>\n That the auction accounting records of government funds managed by the FRBNY, as fiscal agent for the government, are accessible by GAO audit 24<\/sup><\/a> without additional legislation, and also by FOIA demand, has been declared by competent adjudication. Bloomberg L.P. v. Bd. of Governors of Fed. Reserve Sys., 649 F. Supp. 2d 262, 274 (S.D.N.Y. 2009), aff\u2019d, 601 F.3d 143 (2d Cir. 2010). <\/span><\/p>\n An abundance of such covert funds would go a long way to advance David Rockefeller\u2019s utopian world government touted in his autobiography MEMOIRS<\/a>. Globalism was mentioned decades earlier by Carroll Quigley in TRAGEDY AND HOPE<\/a>. Funds from Wall Street could be used to dominate foreign nations as documented by John Perkins in CONFESSIONS OF ECONOMIC HIT MAN<\/a> and William Blum in KILLING HOPE: CIA\u00a0 AND\u00a0 U.S.\u00a0 MILITARY\u00a0 INTERVENTIONS<\/a>. Unused funds could be laundered in the stock or bond market and extend ownership of the six mega-corporations. Ownership of virtually all Fortune 500 companies, including MSM, are so held. 25<\/sup><\/a> \u00a0 Some such firms have been used to fund riots on the west coast.<\/p>\n The Goldman Sachs government budget (Trump\u2019s Budget) included huge deficit spending increases<\/a> (increased military spending with cuts in social programs) with unrealistic increases in national productive\/tax base. 26<\/sup><\/a> This is the same scheme Wall Street and the CIA have used to bankrupt other nations for four decades. 27<\/sup><\/a> \u00a0 The psychopathic Wall Street warmongers demand a humongous deficit-busting military expenditure, but this statement may reverse cause and effect.\u00a028<\/sup><\/a> \u00a0\u00a0\u00a0\u00a0 Douglas Valentine identifies chaos by U.S. elements in foreign nations is being duplicated in the 50 states. Globalist agitation in Ukraine is in chapter nine..29<\/sup><\/a> \u00a0 Whether globalism involves the development of the United Nations, NATO, drugs, or a virus30<\/sup><\/a> depends on the observer.<\/p>\n Bankruptcy of the Nation is inherent in this plan. The Federal Reserve Ponzi scheme creates an expanding National Debt with no possible way to pay it off. The principle of a \u2018loan\u2019 is created by deficit spending. [Notice that the \u2018loan\u2019 (sic, credit that is never negated) is from the Federal Reserve system but the taxpayers have become responsible for it.] The required interest to pay it off is never created. Only more debt, with the new principal being used to pay the prior interest, delays the Ponzi\u2019s collapse. The growth required to perpetuate such a scheme, of interest upon interest upon interest, is exponential as evidenced in any graph of the National Debt. Again, a contract that cannot be culminated is an act of fraud and is void from its inception.<\/p>\n QUANTITATIVE EASING<\/b><\/span><\/p>\n Up to this time we have detailed the historic operation of the Federal Reserve. The financial dilemma on Wall Street in 2008 found the Fed exercising new power to prevent economic collapse. The Fed purchased Treasury securities from select banks, suspected to be covert shareholders of FRBOG, Inc., to provide instant cash. The strange thing is the Fed balance sheet did not have the value of the purchases on their balance sheet before the $3.5 trillion purchases. The Fed established the value on their accounting books out of thin air before using it to buy the securities. If commercial banks had done this, it would be called fractional reserves.<\/p>\n At some point we must draw back and identify the use and purpose of various accounts of the Federal Reserve. Prior to 2008, the account of Federal Reserve assets was the identification of value received from auctions of Treasury securities that exceeded transfer to a government account accessible by the US Treasury. The auctions were the only source of $1 trillion in assets for the Fed. The account was government money. It eliminated the requirement that money coming in from auctions precisely match each money sent to suppliers of mature bonds. 2008 apparently changed that; private funds of the Fed for QE were commingled with government funds.<\/p>\n If the commercial banks that received the QE credit had been committed to repurchase the securities after their financial condition improved, it would have eliminated any increase in value added to the market. But the banks did not repurchase the securities from the Fed. $3.5 trillion of value was created by book entry action. Fed testimony to Congress offered a statute that was claimed to authorize the action. This same procedure has been repeatedly used by the Fed to purchase an additional $4.5 trillion to prevent bank failures. $8 trillion credit has been added to the market [inflation] without any benefit to the government. $8 trillion would be a lot of money to laundry in BlackRock, Vanguard, MSM, pharmacy companies, fuel production, and to fund globalist projects [including Ukraine]—as has been $30 trillion.<\/p>\n The Fed has made several efforts to sell the $8 trillion of credit they created on their books which, according to the thesis above, would appear to be profit for the shareholders of the FRBOG, Inc. Those efforts have repeatedly resulted in market rejections and downturns.31<\/sup><\/a> If the Fed was able to sell them on the market, it would transfer the value of securities to the FR Board of Governors, Inc. If the government bought the securities, it would retire the securities which would reduce the National Debt and also reduce credit in circulation [deflationary]. It would be the precise reverse of issuing deficit spending securities. [Mishtalk graphed the Fed held $1,000,000 Billion in securities and $200,000 in MBS March 2020. How did they buy them ?32<\/sup><\/a>]<\/p>\n Bernanke told us the QE was not nationalizing the national debt. It was a loan of the Reserve—not a government function. The loans would be paid off when the securities were repurchased by the banks that had been rescued. To expedite the accounting procedure, the private assets of the Fed were apparently merged with the government money used for auction accounts. The procedure was so handy that $8 trillion of private loans by the Fed to rescue banks has been added to the government account. Now the Fed wants to sell those assets but every attempt to sell them on the market has crashed the economy. [NOTE: The funds received from auctions of deficit spending<\/b> Treasury securities as identified above are alleged to involve other private accounts that are never identified.]<\/p>\n Powell has recently announced the Fed is going to \u201croll off\u201d Fed assets which will retire them. The only way to retire national debt is to sell it to the government. The Fed can do this without even asking the government for the funds. The FRBNY, as fiscal agent for the government, has exclusive authority for disbursement of government funds from auctions of Treasury securities, and to any related operation they wish to claim. Ref. 31 USC 375.3. Administrative and regulatory supervision of the FRBNY franchise is vested in the FRBOG, Inc. Instruction by Powell to buy securities held by the BOG would be no big deal. If funds to redeem maturing securities in the market run short, well, times are tough all over. The Fed comes first. It just requires more deficit spending. It makes no difference that the assets were generated as a book-entry credit for the Fed. Such an easy way to crash the economy, bankrupt the Nation, and make it look like Congress did it.<\/p>\n The Fed created $16 Trillion in the QE1 and QE2 actions after 2007 with book-entry credit to save four Primary Dealer entities that are alleged shareholders of FRBOG, Inc. from bankruptcy from derivative gambling.33<\/sup><\/a><\/p>\n $16 Trillion was clear profit for the Fed that inflated value in circulation<\/b> by purchasing Treasury securities and Mortgage Backed Securities from financial entities.\u00a0 The government received no benefit or consideration from that action. That the PD’s may have sat on the credit rather than circulate it for several years only delayed the inflationary action. All profit of the Fed legally belongs to the government but the government received no benefit from this action.<\/p>\n Book entry QE1 and QE2 were clear profit for the Fed that inflated value in circulation.\u00a0 It was as much a counterfeit operation as if I printed Bennies on my copy machine. \u00a0\u00a0 Now Powell is going to sell $9 trillion of these stolen assets on the Fed’s balance sheet to the government and call it ‘roll off’ ? We can be assured the value will be covertly transferred to the PD owners of the Fed as detailed above.<\/p>\n This claim by Powell should raise some eyebrows. If the Fed is operating as a government agency, the $16 trillion they created would be a government asset.34<\/sup><\/a> If it was used to buy Treasury securities and MBS,35<\/sup><\/a> those assets would be government assets. But Powell plans to \u201croll off\u201d the securities to the government. The MBS have already disappeared. The statement is clear evidence Powell considers the securities and MBS\u2019s were purchased to be private assets owned by a private [corporate] business. How did the purchases become private property that can be sold to the government ? If the $16 trillion book-entry purchase is a valid exercise of the Fed, Congress should be able to instruct the Fed to create an additional $14, or $34, trillion book entry and negate the entire National Debt. Such a confiscation of wealth would not be casually accepted.<\/p>\n The tightening of money from retiring securities seems eerily similar to what the Fed did on 1929. Call loans were repeatedly demanded to be paid immediately which stopped construction and inventory expansion. The crash was instrumental in flushing gold from storage and did not stop until war was declared. When the Fed squeezes the economy, the affect is multiplied by the commercial banks.<\/p>\n An alternate rescue plan to rescue the Fed involves use of the Fed\u2019s new Special Purpose Vehicles (SPV) program to sell securities to the Treasury Department (read Stephen Mnuchin of Goldman Sachs) to procrastinate bankruptcy of Wall Street banks. It will apparently additionally balloon the national debt but will be used to avoid bankruptcy of Wall Street banks and their cronies. 36<\/sup><\/a> Blackrock, allegedly owned by insiders, is central to the scam. 37<\/sup><\/a> Unrelenting access to government funds, while the tax base is destroyed by compelled national unemployment and corporate bankruptcies by a created virus 38<\/sup><\/a>, is a textbook recipe for insolvency.<\/p>\n If the scheme is not altered, Wall Street internal memos identify the \u201cultimate goal\u201d is to collect on the $24 trillion National Debt.39<\/sup><\/a> During national bankruptcy, the FRBNY will handle redemption of the PD\u2019s tendered securities they have purchased in the market for pennies. They will demand face value from the U.S. Treasury; i.e., a financial rape of the nation. They are all one clan. Hello Greece and a U.S. troika controlled by financial entities.40<\/sup><\/a><\/p>\n It appears as if Larry Kudlow, Director of the United States National Economic Council, has conceded control of the Treasury has passed to Wall Street to complete the coup.41<\/sup><\/a><\/p>\n National bankruptcy would duplicate the Greek chaos within the United States. 42<\/sup><\/a>\u00a0\u00a0 The financiers\u2019 objective in Greece43<\/sup><\/a> is not to exploit, but is to destroy the nation.44<\/sup><\/a> 45<\/sup><\/a> Indeed, national sovereignty has been acquiesced by Greece to the Troika (financiers) as the terminal end of Goldman Sach\u2019s \u201cshitty\u201d three billion Euro debt.46<\/sup><\/a> New York financiers, using the IMF, extended credit to 86 nations for covid relief in March 2020. What appears to be a planned global economic collapse would put financial entities controlling all of those nations.47<\/sup><\/a> The USA would be 87.<\/p>\n Get ready to kiss your 401(k), your government benefits, your pension, and your bank accounts goodbye, with strikes prohibited, health care costs escalated, perpetual war, mass layoffs (including government personnel), and economic chaos\u2014among other dire occurrences.\u00a0<\/strong>The economic chaos initiated by the virus, which has served to destroy the tax base and make the budget unsustainable, will be only the prelude.<\/p>\n The U.S. has few options:<\/p>\n The entire situation can be ignored with the public meekly submitting to Wall Street\u2019s collection of the fraudulent $30 plus trillion National Debt and accept the fate of Greece. Greece has surrendered national sovereignty control to Goldman Sachs\/Troika.\u00a048<\/sup><\/a> Approval by Troika (financiers) is required for all government actions. Sovereignty of the New World Order will become established.<\/p>\n or<\/p>\n The public can assert pressure on Congress-critters to audit relevant accounts and investigate the Federal Reserve\u2019s handling of government funds. The GAO has the authority to audit the handling of government funds by any entity. 49<\/sup><\/a> It has made two reviews of the FRBNY\u2019s security handling of funds [but not audits] from auctions of Treasury securities.\u00a0 The FRBNY has exclusive handing of such funds. Ref. 31 USC 375.3.\u00a0 All that is required for the GAO to review the handling of government funds is a request by a Congressional committee. Unfortunately, it is rumored that votes [to prevent an audit ?] can be purchased as cheaply as $50,000. This possibility is dim.<\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong>\u00a0or<\/p>\n Citizens can use the FOIA 50<\/sup><\/a> to demand relevant official Fed documents for analysis as affirmed by the Second Circuit Federal appellate court. 51<\/sup><\/a> Optimistically, various state Attorney Generals could merge and share legal expertise, accounting facilities, and National concerns for a joint litigation.52<\/sup><\/a> The Barons, as appointed territorial governors of King John, successfully mutinied in 1215 and laid the foundation for our Constitution.<\/p>\n The future remains to be seen.<\/p>\n This writing is not copyrighted. Feel free to distribute.<\/p>\n FOOTNOTES:<\/b><\/span><\/em><\/p>\n 1<\/a> https:\/\/www.forbes.com\/sites\/ 2<\/a> ..https:\/\/www.researchgate. 3<\/a>\u00a0 \u00a0 Benjamin Ginsberg identifies historic European banking events\/chaos in FATAL EMBRACE; (financiers) AND THE STATE even from the Magna Carta.\u00a0 \u00a0European origin of the Federal Reserve is well known.\u00a0 Ref. http:\/\/www.apfn.org\/apfn\/ 4<\/a> A historical analysis of the founders of the Fed <\/span>to be<\/span> Rothschild Khazarian Mafia<\/span> origin is detailed at http:\/\/stateofthenation.co\/? 5<\/a>Dr. Lee Merritt has concluded the Covid vaccine is genetically selective. It is now removed.<\/p>\n<\/div>\n 6<\/a> GREEK, OR DEJA VU ? ;\u00a0\u00a0 https:\/\/papers.ssrn.com\/sol3\/ 7<\/a> \u00a0 Douglas Valentine; CIA AS ORGANIZED CRIME.<\/p>\n<\/div>\n 8<\/a> This creation of book-entry credit is similar to Main Street bank making a loan to a client (fractional reserves).<\/p>\n<\/div>\n 9<\/a>\u00a0 \u00a0 http:\/\/www.apfn.org\/APFN\/ 10<\/a>\u00a0 In fact, the \u201cking\u201d has been known to confiscate the public gold in \u201cthe public interest.\u201d<\/p>\n<\/div>\n 11<\/a>\u00a0 \u00a0 After the hook was set, the bankers would clandestinely demand token payments of gold from the king until his coffers were emptied and he was bankrupt. After the king was ban,krupt and the people resisted increased taxes, bankers (who controlled the roll-over of prior debt and the paying of interest) would demand the king sell his assets to the bankers (for the banker\u2019s make-believe book entry credit) at fire-sale prices (as in Greece) so interest on the king\u2019s promises could be paid.\u00a0 \u00a0Consider the irony of it. For the king to have a bit of purchasing power to advance the kingdom, the kingdom was lost. The people finally wised up and revolted.<\/span><\/p>\n<\/div>\n 12<\/a>\u00a0\u00a0 The Magna Carta as a rebellion against the war-mongering by London financiers is an interesting observation of Benjamin Ginsberg. It has been omitted from history books.\u00a0 1000 years hasn\u2019t changed the financiers\u2019 war-mongering obsession.\u00a0 Ref.\u00a0 Michel Chossudovsky, GLOBALIZATION OF WAR; Douglas Valentine, \u00a0CIA AS ORGANIZED CRIME ;\u00a0 https:\/\/www.commondreams.org\/ 13<\/a> A debt-based national economy without specie backing is a Ponzi scheme inherently destined for bankruptcy but that is another story.\u00a0 Ref. https:\/\/www.scribd.com\/doc\/ 14<\/a> \u00a0\u00a0 http:\/\/www.bilderberg.org\/ 15<\/a>\u00a0 A favorite line is the government borrows money. It is impossible to see that what was not there before the event could be borrowed.\u00a0 It would appear that the Fed did not put up any legal consideration for the agreement. A contract without legal consideration by both parties is void from its inception.\u00a0 Nor can it be rational that the Federal Reserve had $20 trillion a century ago while they purchase $100\u00a0 Ben Franklins for 15 cents each from the US government. [The Fed does not \u2018print money\u2019 (sic); it buys it from the government.]\u00a0 Another inane concept is that the government borrows from the public.\u00a0 If there is any logic to this concept, how then is the public in debt ?<\/span><\/p>\n<\/div>\n 16<\/a>\u00a0 A Treasury Bill, Bond, or Note is backed by the taxing power of the U.S. FDR removed domestic demand for gold.\u00a0 President Nixon removed the pledge of gold\u00a0 for other nations.\u00a0 Cynics might conclude the FRBOG had confiscated the government\u2019s gold by that time. China received bogus gold bars from the Fed.<\/span><\/p>\n<\/div>\n 17<\/a>\u00a0 A loan involves money exchanging hands.\u00a0 There is no increase in money in circulation (inflation) with a loan.<\/span><\/p>\n<\/div>\n 18<\/a> http:\/\/www.gao.gov\/assets\/80\/
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