A Phone Call To The Federal Reserve
Bank in San Francisco
- from Dan Benham, Nov 24, 2005
(Posted here: Dec 04, 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.
/www.freedomfinancialconsultants.com/declaration.ht...
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.
http://www.illuminati-news.com/phone-call-to-fed-reserve.htm