FINAL WARNING: Financial Background
The Federal Reserve System has never been audited, and their
meetings, and minutes of those meetings, are not open to the public.
They have repelled all attempts to be audited. In 1967, Arthur Burns,
the Chairman of the Federal Reserve, said that an audit would threaten
the independence of the Reserve.In 1979, after dismissing Secretary of Treasury, Michael Blumenthal,
President Jimmy Carter offered the position to American Illuminati
chief, David Rockefeller, the CEO of Chase Manhattan Bank, as did
Nixon, but he turned it down. He also turned down the nomination for
the Chairmanship of the Federal Reserve Board. Carter then appointed
Paul Volcker as Chairman. Volcker graduated from Princeton with a
degree in Economics, and from Harvard, with a degree in Public
Administration. He was an economist with the Federal Reserve Bank of
New York (1952-57), worked at the Chase Manhattan Bank (1957-61),
was with the U.S. Treasury Department (1961-65), Deputy Under
Secretary for Monetary Affairs (1963-65), Under Secretary for Monetary
Affairs (1969-74), and President of the New York Federal Reserve Bank
(1975-79).In the Nixon Administration, as the Under Secretary for Monetary
Policy and International Affairs, the executive branch official who
works most closely with the Federal Reserve, he and Treasury
Secretary John Connally helped formulate the policy that took us off
the gold standard in 1971, because of the dwindling gold reserves at
Fort Knox. Volcker was chosen because he was the “candidate of Wall
Street.” He was a member of the Trilateral Commission, and a major
Rockefeller supporter. Bert Lance, the Georgia banker and political
advisor to Carter who became his Budget Director, and was later
forced to resign, contacted Gerald Rafshoon, a Carter aide, and said
that if Volcker would be appointed, he would be “mortgaging his re-
election to the Federal Reserve.” Lance predicted that he would bring
high interest rates and high unemployment. He was confirmed by the
Senate Banking Committee in August, 1979, replacing Arthur Burns, an
Austrian-born economist who was a CFR member with close ties to the
Rockefellers. Volcker was against a gold-back dollar, and gold being
used as a form of currency. He attempted to tighten the money
situation in order to curb the 10% annual growth in the money supply,
and to ease the pressure of loan demand. The result was a dramatic