Sunday, June 5, 2011

Fed Lawyer Alvarez: “The Federal Reserve Does NOT Own Any Gold at All”

Shocking.

"Thats right. The Fed owns NO gold. Zero, zip, ziltch.

For those of you who did not watch yesterday’s monetary policy hearing in the house of representatives, you most likely missed this bombshell exchange between Federal Reserve lawyer Scott Alvarez and committee chairman Dr. Ron Paul. My jaw literally dropped when I heard the Fed’s general counsel declare that the Federal Reserve owns no gold. After 1934, Alvarez explains that the Fed handed its gold over to the Treasury in exchange for gold certificates. When pressed further, Alvarez noted that the gold certificates do not represent any interest whatsoever in the gold itself. He explained the gold certificate listings on the Fed balance sheet, not as a claim to gold, but at most a claim to dollars from the Treasury. See the quotes here (and watch the videos at the bottom of the post):"


Click here for entire article ...

23 comments:

  1. WTF?
    WHERE IS THE GOLD? Did we just transfer it to private hands? That simple. Screwed!

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  2. i woulda been more surprised if they actually had gold

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  3. No, the fed does not own gold. But the treasury?

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  4. so I have no idea anymore what anything really means, I would think this would goose gold monday etc? comments?

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  5. This comment has been removed by the author.

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  6. Fed has no gold but does gold swaps as confirmed by GATA. The paper BS is epic and were the ones that are going to get the total poke in the end. OH you think not...the same duche that buy IPAD's and vote Obama-Bush will have no problem at alllllllllll taking ours for the public (steal) good. Don't doubt it for a second.

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  7. FOFOA just wrote an interesting post commenting it.
    http://fofoa.blogspot.com/2011/06/open-letter-to-ron-paul.html

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  8. so the Fed is a mechanism to siphon the gold out of treasuries and then transfer it to privileged partners like the shareholders of the worlds Feds. Those are the real holders of the gold and they looking forward with interest to the future...

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  9. When taken in the context of the NWO it makes perfect sense. Nothing to back the USD when the death spiral comes by debasement it will die by design. The Bilderberg Group have a plan to centralize the one world government over a 50 or 100 year period covering many generations so as not to be too intrusive - frog in the pot syndrome. The wealthy elite will hold all the money and power and the slaves will work for minimum wage in manufacturing plants to make trinkets we don't need. Wonderful legacy for our children to be born into a slave planet. Just look at Can PM Harper, that fat POS is kissing every Bilderberg ass he can to get is blood line into eternal wealth. So I ask you WTF has changed in 10,000 year. Nothing! No one F'g thing.

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  10. Buckanear2,

    It's even worse than that. Dig a little deeper into their documentation and white papers and you discover the real plan is to eliminate 90% of the world's population. The ultimate goal is to have just a handful of slaves, who cannot defeat their mind control, to serve their every need. This is what is known as the science of eugenics.

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  11. Not really a revelation, the Fed is just a depository for central banks-
    http://www.newyorkfed.org/education/addpub/goldvault.pdf

    It's kind of confusing (perhaps intentionally) since both the FRBNY and FT. Knox/WP hold around 8000 tons. They act as if they don't really care, gold is just a relic, museum piece, etc., but when gold gets revalued big time, US debt evaporates, so it is still our most important asset. People should not be upset at the antics of JP Morgan and others because in essence they are just controlling gold's ascent. Patience is key, and market gyrations just so much drama.

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  12. Thanks for making this clip known, SGS. The people that have read this article and watched the video really need to start listening to Alex Jones. At first, you may be put into a shock, but his record is 2nd to none. www.infowars.com

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  13. @ i1 - exactly, but i have read that it could be about 11.? tons of gold that America holds.

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  14. Was... Was that the sound of another domino falling..?

    Don't know why this would come as a surprise to anyone but thanks for posting it up SGS.

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  15. ben.roberts13,

    yep. Point #1 on the Georgia Guidestones:

    1. Maintain humanity under 500,000,000 in perpetual balance with nature.

    http://en.wikipedia.org/wiki/Georgia_Guidestones

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  16. First time ever hearing Ron Paul speak. He seems like a good guy.

    Don't know how those two fed fucks sleep at night, but the one with glasses sure looked proud of himself for saying "no comment".

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  17. Financial Rapists took all the gold. This was done to Argentina in 2001 by the goo-luminati.

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  18. Part of me thinks that we are already living in the New World Order and that we already have a One World Government. The thing is... the NWO has failed so they need to come up with a New New World Order (NNWO).

    After all, check the back of your one dollar bill - it does say "NEW WORLD ORDER" on it and that was put there in the 1930's.

    We are coming to the end of the New World Order IMHO.

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  19. AND YOU ALL THOUGHT GETTING TO THE END OF THE WORLD WOULD BE EASY....GUESS NOT...
    STAND BY FOR CHAOS AND MISERY...THEN MAYBE........

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  20. Ron Paul for President


    The Last Nail, ,by Congressman Ron Paul

    Congressman Ron Paul delivered a five-minute speech on the floor of the House of Representatives May 25, a short speech that may sound to the uninformed like one wild statement after another. In his speech, Dr. Paul (he's an obstetrician) made a number of charges that the executive branch of government has established a virtual dictatorship with the willing assistance of Congress and many Americans who fear for their "security." But Congressman Paul is complaining about the erosion of constitutional protections that have already happened. Following is his speech verbatim, along with links documenting his allegations. All words are by Congressman Paul; hyperlinks were added by The New American's Thomas R. Eddlem.

    http://www.thenewamerican.com/usnews/politics/7672-the-last-nail-by-ron-paul-with-documented-hyperlinks

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  21. The crooked finger of blame /denial arrives at tthe FED.
    "I didn't have sex with that woman, Monica Lewinsky!"
    So, after listening to RP through countless exchanges with former and current FED officials, now the FED claims they don't have the gold? Not since the FR act?
    It is the Treasury that holds that??? So we have Tiny Tim in charge of our Gold.
    Let's think this through. Will RP have the authority to bring before his committee Tiny Tim? I think RP is dead on in pursuing the Gold. He knows that is where the true wealth of the nation lies. I have said it repeatedly, follow the money. In this case the money WAS the gold. RP knows that lacking the supposed Gold holdings, the rest of the argument is moot. Without our Gold, the end is already written. With answer to this one question RP will have done for our nation more than any before have done exception being those that fought for our Nation and nurtured it's freedom from the beginning. It is hard to mark the spot where love of country ended, and greed/lust for power took over. The FR act always stood out for me, but the drive to that end was there long before. RP's question will not "save" the country from great pain. The only real hope is the truth's exposure and the effect it will have on our future direction. ie more debt? One must note that to date RP is the only one of authority to stay in their face about the money.
    Current administration, and all prior have NEVER questioned the FED. The one exception was Kennedy who printed money outside the FED.
    My view:
    Bring on Tiny Tim! AND the FED...that would be Heli Ben this time.
    Let's turn the cameras on and ask the questions until the truth outs.
    If we don't have the gold, we all know what happens. Worlds reserve currency backed by..................

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  22. "He explained the gold certificate listings on the Fed balance sheet, not as a claim to gold, but at most a claim to dollars from the Treasury."
    He most certainly did not. What he said was that the Fed does not own gold- just a lien on every ounce in the treasury!(in the form of those gold certificates)
    It took guts for Ron Paul to investigate this issue at all, with so few in Congress backing him, but he should have asked, "How is it that the rest of Americans had to give up their gold in exchange for $20/oz in fiat paper while you got gold certificates?

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