Federal Reserve Scam
simple_...@yahoo.com
(from Dan Benham, Nov 24, 2005)
The following is a conversation with Mr. Ron Supinski
of the Public Information Department of the San
Francisco Federal Reserve Bank. This is an account of
that conversation.
CALLER - Mr. Supinski, does my country own the Federal
Reserve System?
MR. SUPINSKI - We are an agency of the government.
CALLER - That's not my question. Is it owned by my
country?
MR. SUPINSKI - It is an agency of the government created
by congress.
CALLER - Is the Federal Reserve a Corporation?
MR. SUPINSKI - Yes
CALLER - Does my government own any of the stock in
the Federal Reserve?
MR. SUPINSKI - No, it is owned by the member banks.
CALLER - Are the member banks private corporations?
MR. SUPINSKI - Yes
CALLER - Are Federal Reserve Notes backed by anything?
MR. SUPINSKI-Yes, by the assets of the Federal Reserve
but, primarily by the power of congress to lay tax on
the people.
CALLER - Did you say, by the power to collect taxes is
what backs Federal Reserve Notes?
MR. SUPINSKI - Yes
CALLER - What are the total assets of the Federal Reserve?
MR. SUPINSKI - The San Francisco Bank has $36 Billion in
assets.
CALLER - What are these assets composed of?
MR. SUPINSKI - Gold, the Federal Reserve Bank itself and
government securities.
CALLER - What value does the Federal Reserve Bank carry
gold per oz. on their books?
MR. SUPINSKI - I don't have that information but the San
Francisco Bank has $1.6 billion in gold.
CALLER - Are you saying the Federal Reserve Bank of San
Francisco has $1.6 billion in gold, the bank itself and
the balance of the assets is government securities?
MR. SUPINSKI - Yes.
CALLER - Where does the Federal Reserve get Federal
Reserve Notes from?
MR. SUPINSKI - They are authorized by the Treasury.
CALLER - How much does the Federal Reserve pay for a
$10 Federal Reserve Note?
MR. SUPINSKI - Fifty to seventy cents.
CALLER - How much do they pay for a $100.00 Federal
Reserve Note?
MR. SUPINSKI - The same fifty to seventy cents.
CALLER - To pay only fifty cents for a $100.00 is a
tremendous gain, isn't it?
MR. SUPINSKI - Yes
CALLER - According to the US Treasury, the Federal
Reserve pays $20.60 per 1,000 denomination or a little
over two cents for a $100.00 bill, is that correct?
MR. SUPINSKI - That is probably close.
CALLER - Doesn't the Federal Reserve use the Federal
Reserve Notes that cost about two cents each to
purchase US Bonds from the government?
MR. SUPINSKI - Yes, but there is more to it than that.
CALLER - Basically, that is what happens?
MR. SUPINSKI - Yes, basically you are correct.
CALLER - How many Federal Reserve Notes are in circulation?
MR. SUPINSKI - $263 billion and we can only account for
a small percentage.
CALLER - Where did they go?
MR. SUPINSKI - Peoples mattress, buried in their back
yards and illegal drug money.
CALLER - Since the debt is payable in Federal Reserve
Notes, how can the $4 trillion national debt be paid-off
with the total Federal Reserve Notes in circulation?
MR. SUPINSKI - I don't know.
CALLER - If the Federal Government would collect every
Federal Reserve Note in circulation would it be
mathematically possible to pay the $4 trillion national
debt?
MR. SUPINSKI - No
CALLER - Am I correct when I say, $1 deposited in a
member bank $8 can be lent out through Fractional Reserve
Policy?
MR. SUPINSKI - About $7.
CALLER - Correct me if I am wrong but, $7 of additional
Federal Reserve Notes were never put in circulation. But,
for lack of better words were "created out of thin air"
in the form of credits and the two cents per denomination
were not paid either. In other words, the Federal Reserve
Notes were not physically printed but, in reality were
created by a journal entry and lent at interest. Is that
correct?
MR. SUPINSKI - Yes
CALLER - Is that the reason there are only $263 billion
Federal Reserve Notes in circulation?
MR. SUPINSKI - That is part of the reason.
CALLER - Am I mistaking that when the Federal Reserve Act
was passed (on Christmas Eve) in 1913, it transferred the
power to coin and issue our nation's money and to regulate
the value thereof from Congress to a Private corporation.
And my country now borrows what should be our own money
from the Federal Reserve (a private corporation) plus
interest. Is that correct and the debt can never be paid
off under the current money system of country?
MR. SUPINSKI - Basically, yes.
CALLER - I smell a rat, do you?
MR. SUPINSKI - I am sorry, I can't answer that, I work here.
CALLER - Has the Federal Reserve ever been independently
audited?
MR. SUPINSKI - We are audited.
CALLER - Why is there a current House Resolution 1486
calling for a complete audit of the Federal Reserve by
the GAO and why is the Federal Reserve resisting?
MR. SUPINSKI - I don't know.
CALLER - Does the Federal Reserve regulate the value of
Federal Reserve Notes and interest rates?
MR. SUPINSKI - Yes
CALLER - Explain how the Federal Reserve System can be
Constitutional if, only the Congress of the US, which
comprises of the Senate and the House of representatives
has the power to coin and issue our money supply and
regulate the value thereof? Nowhere, in the Constitution
does it give Congress the power or authority to transfer
any powers granted under the Constitution to a private
corporation or, does it?
MR. SUPINSKI - I am not an expert on constitutional law.
I can refer you to our legal department.
CALLER - I can tell you I have read the Constitution. It
does NOT provide that any power granted can be transferred
to a private corporation. Doesn't it specifically state,
all other powers not granted are reserved to the States
and to the citizens? Does that mean to a private corporation?
MR. SUPINSKI - I don't think so, but we were created by
Congress.
CALLER - Would you agree it is our country and it should be
our money as provided by our Constitution?
MR. SUPINSKI - I understand what you are saying.
CALLER - Why should we borrow our own money from a private
consortium of bankers? Isn't this why we had a revolution,
created a separate sovereign nation and a Bill of Rights?
MR. SUPINSKI - (Declined to answer).
CALLER - Has the Federal Reserve ever been declared
constitutional by the Supreme Court?
MR. SUPINSKI - I believe there has been court cases on the
matter.
CALLER - Have there been Supreme Court Cases?
MR. SUPINSKI - I think so, but I am not sure.
CALLER - Didn't the Supreme Court declare unanimously in
A.L.A. Schechter Poultry Corp. vs. US and Carter vs. Carter
Coal Co. the corporative-state arrangement an unconstitutional
delegation of legislative power? "The power conferred is the
power to regulate. This is legislative delegation in its most
obnoxious form; for it is not even delegation to an official
or an official body, presumptively disinterested, but to
private persons." Carter vs. Carter Coal Co...
MR. SUPINSKI - I don't know, I can refer you to our legal
department.
CALLER - Isn't the current money system a house of cards
that must fall because, the debt can mathematically never
be paid-off?
MR. SUPINSKI - It appears that way. I can tell you have
been looking into this matter and are very knowledgeable.
However, we do have a solution.
CALLER - What is the solution?
MR. SUPINSKI - The Debit Card.
CALLER - Do you mean under the EFT Act (Electronic Funds
Transfer)? Isn't that very frightening, when one considers
the capabilities of computers? It would provide the
government and all it's agencies, including the Federal
Reserve such information as: You went to the gas station
@ 2:30 and bought $20.00 of unleaded gas @ $3.41 per gallon
and then you went to the grocery store @ 2:58 and bought
bread, lunch meat and milk for $12.32 and then went to the
drug store @ 3:30 and bought cold medicine for $5.62. In
other words, they would know where we go, when we went,
how much we paid, how much the merchant paid and how much
profit he made. Under the EFT they will literally know
everything about us. Isn't that kind of scary?
MR. SUPINSKI - Yes, it makes you wonder.
CALLER - I smell a GIANT RAT that has overthrown my
constitution. Aren't we paying tribute in the form of income
taxes to a consortium of private bankers?
MR. SUPINSKI - I can't call it tribute, it is interest.
CALLER - Haven't all elected officials taken an oath of
office to preserve and defend the Constitution from enemies
both foreign and domestic? Isn't the Federal Reserve a
domestic enemy?
MR. SUPINSKI - I can't say that.
CALLER - Our elected officials and members of the Federal
Reserve are guilty of aiding and abetting the overthrowing
of my Constitution and that is treason. Isn't the punishment
of treason death?
MR. SUPINSKI - I believe so.
CALLER - Thank you for your time and information and if I may
say so, I think you should take the necessary steps to
protect you and your family and withdraw your money from the
banks before the collapse, I am.
MR. SUPINSKI - It doesn't look good.
CALLER - May God have mercy on the souls who are behind this
unconstitutional and criminal act called the Federal Reserve.
When the ALMIGHTY MASS awakens to this giant hoax, they will
not take it with a grain of salt. It has been a pleasure
talking to you and I thank you for your time. I hope you will
take my advice before it does collapse.
MR. SUPINSKI - Unfortunately, it does not look good.
CALLER - Have a good day and thanks for your time.
MR. SUPINSKI - Thanks for calling.
____________________________________________________________
The federal debt is now (2006) about $8 trillion.
The Social Security shortfall is about $4 trillion.
The total number of U.S. taxpayers is 133 millions.
The national debt (including the Social Security
shortfall) per taxpayer is about $90,000.