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Citizens Against Banksters
MAJOR ASSET ACCOUNTS
The balance sheet in Table 3.A.1 is a condensed form of the statement for march 28, 1984.
"The GOLD CERTIFICATE ACCOUNT (item 1 in the table) represents in effect warehouse receipts to the Reserve Banks by the Treasury against its gold holdings. In return the Reserve Banks issue an equal value of credits to the Treasury deposit account (item 9b), computed at the statutory price of $42.22 per fine troy ounce. Because all gold held by the Treasury as of the date in table 3.A.1 has been monetized in this fashion
. . . the Federal Reserve Banks' gold certificate account of $11.1 billion dollars represents the nation's 'entire gold stock'. New gold certificate credits may be issued only if the Treasury acquires additional gold or if the statutory price of gold is increased."
GETTING AROUND THE LAW!
EXPLANATION OF ASSET ACCOUNTS
"1. Gold Certificate Reserves. Although the the law does not permit the Federal Reserve Banks to own gold and forbids the use of gold or gold certificates in circulation, it does authorize the Treasury to issue gold certificates to the Federal Reserve Banks for the gold it acquires. In exchange for these certificates the Federal Reserve Banks credit the Treasury checking account. The Federal Reserve Banks do not actually hold any large amount of gold certificates, however, their actual receipt and transfer being unnecessary and cumbersome. Instead the Reserve Banks and the Treasury keep a book record of gold certificates due the Federal Reserve Banks. This arrangement gives the Reserve Banks an asset in the form of 'due from' claim on the United States Treasury."
"Examining the the organization and function of the Federal Reserve Banks and applying the relevant factors, we conclude that the Federal Reserve Banks are not federal instrumentalists . . . but are independent and privately owned corporations . . . federal reserve banks are listed neither as 'wholly owned' government corporations [under 31 U.S.C. Section 846 nor as 'mixed corporations under 31 U.S.C. Section 856 . . ." [Lewis vs. U.S. case #805905, 9th Circuit, June 24, 1982]THERE YOU HAVE IT, STRAIGHT FROM THE HORSE'S MOUTH! THERE IS NOTHING GRAY ABOUT IT!
IT'S ALL IN BLACK AN WHITE
THAT'S RIGHT FOLKS! The Federal Reserve is a "private" corporation.
Here's a good one for you! They call themselves a "quasi- government agency". According to the thesarus it quasi means: pseudo, false, counterfeit, fake, sham, spurios, bogus, deceptive, phony. In other words, the banksters have stolen our nation's gold with their "fiat" funny money.
