Post 8592964 8kunHOW TRUMP IS OWNING THE FED In the 1930s, a back door was installed in the Fed, so the elites could easily and secretly steal money from it. What is the back door? It is the Exchange Stabilization Fund (ESF), which is attached to the New York branch of the Fed.
On paper, the ESF was to maintain the value of the dollar, and to that end, was authorized to requisition money in virtually any amount from the Fed, and not have to account for where the money went. And guess what - the ESF is under the direct control of the Secretary of the Treasury (currently Mnuchin).
In the past, this has been used to funnel untold billions to the world banking elites. But now, the Treasury is taking the money. No previous president dared to do this, because they were all members of The Club, or at least under The Club's thumb. But Trump is not a part of The Club, which has be vigorously opposing him since he announced his candidacy. And now Trump has taken their cash cow, and is letting the Treasury milk it. And there is little the Fed can do about it.
For background on the history of the ESF see the 5 videos here, totaling about 70 minutes:
https://www.rumormillnews.com/cgi-bin/archive2.cgi/read/1055 (The source cited at this link, marketskeptics.com, seems to be defunct, but the YouTube videos still exist.)
Exchange Stabilization FundThe 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 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.
https://home.treasury.gov/policy-issues/international/exchange-stabilization-fund
BBB. Watch later
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MARK / FED