While mucking around the Federal Reserve’s online archives, I stumbled upon this interesting report after putting in random dates and random, interesting words. Like ’secret’. This report from 1961 popped up. Many people say many things about the history of gold and the Federal Reserve but many of these statements are not backed up by hard information. We know that the Presidents of the United States, ever since 1914, have had a queer relationship with the Federal Reserve and both entities have manipulated our currency and gold, outrageously, in the past.
The goal, of course, is to increase and enable global trade and to make allies stronger. The worry is, degrading the dollar, draining Fort Knox of all its gold and having recessions in America that might anger the voters. The document here is secret because it is discussing how the Treasury and the Federal Reserve can secretly manipulate currency relative values vis a vis the dollar and how to use our gold reserves to basically, increase inflation and the speed which money moves through the systems.
http://fraser.stlouisfed.org/docs/historical/martin/23_... 1961 CONFIDENTIAL REPORT TO FEDERAL RESERVE CHAIRMAN McCHESNEY MARTIN Jr
U. S. Foreign Exchange Operations: Needs and Methods
Introduction
*
The current international position of the United States clearly
demonstrates the advantages that would exist if the United States had at its
disposal the resources and techniques for undertaking foreign exchange
operations as a permanent feature of public policy. The present later.
national financial structure, characterised by convertibility of the major
currencies, relatively free short-term capital markets, and the existence
of large dollar holdings by foreigners (both public and private), has
greatly enhanced the possibility of large recurring movements of capital
out of and into the United States. Such movements of short-term capital,
as the Federal Reserve System has learned from its experience of the
past year, can greatly complicate the execution of an appropriate domestic
monetary policy. Similar problems have been faced by monetary authori-
ties abroad, in both the recent period and in earlier years. Solutions to
problems relating to shifts in capital flows aad their impact on national
balances of payments, together with the relationship of each international
flows to domestic monetary policies are perhaps best approached through
joint action by central banks. It is no accident that individual European
central banks have developed highly sophisticated techniques of operating
in the foreign exchange market, aad have supplemented individual opera-
tions by joiat measures of both a formal and an informal, ad hoc, character.
Monetary authorities ia the United States, on the other hand,
have not, until recently, operated in the foreign exchange market, but have
maintained the stability (and primacy) of the dollar in the international
currency structure by standing ready to buy gold from, and sell it to,
foreign monetary authorities who either need or acquire dollars for exchange
purposes. There can be little question that the interconvertibility of gold
and the dollar at a fixed price will have to remain the keystone of the
international currency structure. At the same time, foreign exchange
dealings by the United States monetary authorities, when judiciously
applied, can serve to reduce capital flows, to dampen speculation, to
minimize potential reserve effects, and hence, to minimize the impact on
the United States gold stock.
*
Continued>>>
http://emsnews2.wordpress.com/2009/01/15/1961-top-secre... /
I highly recommend reading this blog. Elaine Supkis is a top notch researcher. I would post her more but she tends to offend some people. But, she kicks ass.
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Everyone's talking about this report!
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CNBC are cheerleaders for monopoly capitalism
