FINAL WARNING: Financial Background
which were originally printed, and discovered that there are now more
in existence.
It has been reported that 40% (13,000 tons) of the world’s gold is five
levels below street level, in a sub-basement of the New York Federal
Reserve Bank, behind a 90-ton revolving door. Some of it is American-
owned, but most is owned by the central banks of other countries. It is
stored in separate cubicles, and from time to time, is moved from one
cubicle to another to satisfy international transactions.
The Destructive Measures of the Federal Reserve
After March, 1964, Silver certificates were no longer convertible to
Silver dollars; and in March, 1968, near the conclusion of the Johnson
Administration, Silver backing of the dollar was removed. On the 1929
series of notes, it read: “Redeemable in gold on demand at the United
States Treasury, or in gold or lawful money at any Federal Reserve
Bank.” This was just like the Silver Certificate, which was guaranteed
by a dollar in silver that was on deposit. On the 1934 series of notes, it
read: “This note is legal tender for all debts, public and private, and is
redeemable in lawful money at the United States Treasury, or at any
Federal Reserve Bank.” The 1950 series bore the same information,
but reduced it to three lines, and reduced the size of the type. In the
1953 series, the wording was totally removed, although the bottom
portion contained a promise to “pay the bearer on demand.” However,
in 1963, even that message was removed, and our dollars became
nothing more than worthless pieces of paper because they no longer
met the legal requirements of a note, which meant it had to list an
issuing bank, and amount payable, a payee or ‘bearer,’ and a time for
payment, which was ‘on demand.’
Since 1933, the Reserve has been printing too much money, compared
to the declining Gross National Product (GNP). The GNP is the
accumulated values of services and goods produced in the country. If
the GNP is 4%, then the money produced should only be about 5-6%,
thus insuring enough money to keep the goods produced by the GNP
in circulation. Additional social services, which are promised during
election year rhetoric to gain votes, increase the Federal Budget, so
more money is printed. Then the Government will cut the Budget,