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economic justice | government

Federal Reserve Scam

The Federal Reserve scam embezzles $3 billion DAILY from the government using the FRBNY's exclusive handling of redemption of Treasury securities. The accounting records of these accounts have never been audited.
Dear friends,

Can you visualize that Wall Street (i.e., the international bankers) operates a scam with the Federal Reserve as detailed below ? That issue--of how WS embezzles a trillion dollars each year from the government is a rip-off of the citizens-- is in the courts. Do you have an interest in it ?

Do you know of a lawyer that would be interested in participating ???

Sincerely,
James Carter

PS This same scheme is undoubtedly being used with the Euro.

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DEFICIT SPENDING

Deficit spending occurs when Congress approves such act. The U.S. Treasury can then send a Treasury security (bill, bond or note) as collateral to the FRBNY. The FRBNY will then increase the government's line of credit (book entry money) by that amount. The act is identified as a "loan" from the Federal Reserve. The government pays for services by vendors from the account. If a vendor requests "cash" from a commercial bank after depositing the check, the vendor will receive Federal Reserve Notes (FRN), i.e. an item of debt from the Federal Reserve identified as a legal tender. A legal tender is an alternate item from that which was contracted. The vendor requested "dollars" but has been offered a FRN as a substitute which, by law, must be accepted for the requested item.

The FRBNY will sell the Treasury security by auction with a superficial appearance by the U.S. Treasury.

AUCTIONS OF TREASURY SECURITIES

Auctions of Treasury securities are jointly managed by the FRBNY and select government branches and are open to the public. The bulk of sales is to the Primary Dealers who place bids with the FRBNY.

Approximately 85 percent of auctioned securities are used to fund roll-over for maturing or redeemed Treasury securities. Security value for deficit spending is about 15 percent. Each security identifies how much goes for roll-over and how much is for deficit spending. In this Complaint, the terms will be used to designate 100 percent of each security for clarity.

ROLL-OVER SECURITIES

Funds received by auctioning securities for redemption of securities in the market are credited to a government account by the FRBNY. Since they are credited to the government, there is no increase in the National Debt nor is there any increase in the amount of currency in circulation. The government balance sheet lists these funds as assets under Marketable securities.

The Treasury makes a list of securities that are being recalled before maturity. The Primary Dealers are largely responsible for collecting listed or maturing securities for redemption.

The FRBNY has exclusive management and accounting control of redemption accounts for the government. The accounts have never been independently audited nor are they reported to Congress as required by law.

DEFICIT SPENDING SECURITIES

Deficit spending securities are auctioned in the same manner as roll-over securities, however the funds are not credited to a government account. If it were otherwise, there would be no increase in the National Debt nor would there be an increase in money in circulation (inflation). If it were publicly identified that the money goes to the Federal Reserve system, it could lead to great public hostility. The transfer of profit to the Federal Reserve is therefore concealed.

Funds received from auctioning deficit spending securities are ostensibly used to pay back the "loan" that created the book-entry money. The book-entry money becomes an assett component within the "marketable securities" listing of bills, bonds, and notes on the government balance sheet.

The defendant owners of the BOG advance no consideration for the above "loan" or transactions.

The owners of the BOG receives the entire value of deficit spending as a net profit by this handling.

The net profit of the Federal Reserve system legally belongs to the government.

It is impossible to pay off the National debt that is created by the above transactions.

National debt that is created by the above transactions? 17.Mar.2015 18:58

i

the National debt was created by people voting for politicians buying votes with big tax cuts and big giveaway programs.

save the environment so future generations will live longer to hate us for fucking them out of their birth right.

the only way out is massive inflation on the scale of the Wiemar Republic, and we all know what that lead to.. may you live in interesting times.

"People Voting For Politicians Buying Votes With Big Tax Cuts" 17.Mar.2015 19:19

blues

The people don't ever get to vote for anything. We have automatic voting machines and a single selection system.

Since that creates a spoiler effect we have only two candidates for any position (and only two parties).

Simple score voting would solve that, but instead we have Rule by Supreme Judges. How is that working for us?

Simple score voting 18.Mar.2015 05:12

i

Simple score voting would not effect an 18T dollar debt.

The people currently get to vote for the best Santa Claus. Simple score voting means they will get get to vote for 7/16s of a Santa Claus and 11/32 of an elf or two.

How Is There Any "Problem" With Simple Score Voting? 18.Mar.2015 09:33

blues

It involves absolutely no fractions, division, multiplication, or other complications. Each voter can give from 1 to 10 votes to each of a certain number of candidates, up to say 20, since letting them give votes to 100 candidates would just take too long. They can't give a zero (0) vote since then they could write in someone's name and give zero votes, which is not nice. At the end of the day, all the votes are simply added up -- that's it. So you could, for example, give 10 votes to candidates you really want, and 9 votes to a "lesser evil", but well financed, one. If the lesser evil one wins, you will only have sacrificed 10% of your voting power. It's absolutely simple.

one man one vote 18.Mar.2015 11:21

i

that's as simple as it gets and as simple as anything needs to be.

if you can't choose ONE person then you probably should just leave decisions to somebody else.

You Raised This Same "One Man" Thing Before 18.Mar.2015 13:07

blues

You seem to have said that here on 21.Feb.2015. "In the end, their can only be one. One man, one vote." So you said in:
 http://portland.indymedia.org/en/2015/02/429207.shtml#441238

But it just doesn't work that way. So I guess I must repeat myself:

"One man, one vote" has only ever been an expression regarding the unreasonable apportionment of voting districts. And also, an expression used to advocate universal suffrage. It concerns EQUAL VOTING RIGHTS, not improved voting methods that provide equal voting rights. Score voting provides equal voting rights. So this has nothing to do with that.

The spoiler effect (which led to such things as the GOP funding the Ralph Nader presidential campaign in the 2000 election that brought us G. W. Bush) causes two-party lock-in. Of course this has nothing to do with people being "not able to make up their minds."

What is the point of all these silly "arguments"?

I said this before too 18.Mar.2015 16:12

i

it has no chance of every being used other than a village counsel meeting or the loyal order of moose lodge treasurer election.

Then Why Are You So Worried??? 18.Mar.2015 20:21

blues

Whatever freedom we have didn't come from nowhere.

blues 19.Mar.2015 15:41

i

because I worry about my fellow human beings. like you.