Federal Reserve Refuses to Provide Records of Foreign Gold Holdings
APR 05, 2024
The Federal Reserve is a privately owned central bank that is neither Federal, nor does it have any reserves. It is a wholly criminal operation whose main functions are to slowly impoverish America while enriching its owners and those closest to the profligate money printing scam.
The Cantillon effect shows us that those closest to the money printer benefit the most; to wit:
Thus, the mere existence of the Fed and its ruinous mandates ensures that “everyone else” will, over time, be stripped of their wealth. Using inflation as a monetary weapon, the Fed is the singular cause of this stealth tax; in other words, inflation is a direct result of money printing, and nothing else.
Under cover of the PSYOP-19 scamdemic, the Fed conjured fiat out of thin air in unprecedented and orgiastic amounts by kicking their quantitive easing (QE) scheme into ever higher gears and printing over $3 trillion dollars in a matter of months! To provide a little context to this staggering and illicit amount of money printing, it took from the Fed’s fraudulent inception in 1913 till around the end of 2008 to accumulate $1 trillion on their asset books!
Currently, the Fed’s asset books are a tick under $8 trillion, notwithstanding their shadow books which could have many more trillions under its racketeering mismanagement:
Now we are faced with the engineered monetary scourge known as biflation, a term that most are unfamiliar with, whereby central banking planning that increases the money supply while further subverting free markets by manipulating the price of money (i.e. interest rates) results in the simultaneous occurrence of both inflation anddeflation.
What we are now undergoing is the decimation of the last vestiges of the dollar’s purchasing power:
Which brings us to the barbaric relic known as gold. This precious metal has been used by humans for well over 5,000 years as a store of wealth and medium of exchange. The price of gold has recently surged in dollar terms, and for good reason. Gold has hit its all time high (ATH), and is trading as of this writing at around $2,315. Inflation adjusted, gold would have to hit $3,400 to reach a true nominal ATH.
The most accurate way to appreciate the rising price of gold is not by thinking of it as becoming more expensive, but, rather, that the dollar is becoming cheaper, or less valuable.
As the Fed continues to deliberately eviscerate We the People’s wealth via their counterfeiting and interest rate manipulations, the price of gold will continue to rise.
Most major central banks around the world are buying up gold at exceptional rates precisely because they realize that the global financial system is untenable, and they know what is coming down the pike. Which is also why various nations are now demanding their gold from the Fed.
by Ken Silva
Weeks after Federal Reserve Chairman Jerome Powell evaded a sitting congressman’s questions about the central bank’s foreign gold holdings, the Fed has also declined to comply with a Freedom of Information Act request for records about such holdings.
The Federal Reserve’s lack of transparency comes amidst reports that countries are removing their gold and other assets from the U.S. in the wake of the unprecedented Western sanctions imposed on Russia over its invasion of Ukraine. According to a 2023 Invesco survey, a “substantial percentage” of central banks expressed concern about how the U.S. and its allies froze nearly half of Russia’s $650 billion gold and forex reserves.
Rep. Alex Mooney, R-W.Va., asked Powell about the matter in a December letter, only to have the Fed chair respond last month with evasive non-answers, telling him that the Federal Reserve does not own gold but holds it as a custodian for other entities—a fact that the congressman presumably already knew.
Following Powell’s evasive response, Headline USA filed a FOIA request with the Fed for records reflecting how much gold the Federal Reserve Bank of New York currently holds in its vault, as well as records reflecting the ownership stake that each of FRBNY’s central bank/government clients have in that gold. The FOIA request also sought records about the Fed’s gold holdings prior to Russia’s February 2022 invasion of Ukraine.
However, the Federal Reserve denied the FOIA request on Wednesday.
“Board staff consulted with staff at the Federal Reserve Bank of New York (‘Reserve Bank’) and have been advised that such records, if they exist, would be Reserve Bank records, and consequently, not subject to the Board’s Rules Regarding Availability of Information,” the Fed said.
The Federal Reserve said that this publication could take its request to the New York Fed. However, that institution isn’t subject to FOIA.
Headline USA is working on an appeal.
Meanwhile, sound-money advocates are blasting the Fed’s lack of transparency.
“They’re just passing the buck to the New York Fed. The FRB could obtain the data from the New York Fed if it wanted to, and then could share it with you if it wanted to. The Fed chairman has already essentially told Representative Mooney that the Fed doesn’t want to disclose the information,” said Chris Powell, secretary-treasurer of the Gold Anti-Trust Action Committee.
“If only other news organizations dared to ask such relevant questions about the secret operations of the Federal Reserve System,” he said.
According to Stefan Gleason, CEO of Money Metals Exchange, a large online precious metals dealer and depository based in Idaho, “The Fed doesn’t want anyone to know that foreign governments and other central banks are yanking their gold from America’s shores because it would reveal the folly of U.S. monetary and foreign policy.”
The Fed is run by sociopathic banksters, and they could care less about transparency, the rule of law, or much of anything else. When Janet Yellen was Fed chair she claimed that her central bank put an end to the business cycle, and as such her criminal institution had somehow achieved unimagined financial magical powers that granted her total control over all of the dynamic forces driving the economy. She was as mendacious as she was delusional, just like her hubristic predecessor who flippantly claimed that, “subprime is contained,” right before the Great Financial Crisis hit and subprime splattered the proverbial fan.
Gold is the only true global money, and is often referred to as God’s money. Gold has absolutely no counterparty risk so long as one holds it themselves, which renders one their very own central bank. (Always avoid scammy ETF’s like GLD, and use reputable bullion dealers.) When the financial system is finally allowed to collapse, gold will shine ever brighter.
In the meantime, this private central bank is responsible for booms, busts, and the forthcoming PSYOP-MARKET-CRASH; a pernicious corporation that is a rapidly metastasizing financial cancer devouring America.
They want you dead.
Do NOT comply.
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