History of the ESF (Exchange Stabilization Fund) by Rory, The Daily Coin
This is a multi-part series covering the establishment and history of the Exchange Stabilization Fund (ESF). One of the more interesting pieces of information is the the Secretary of the Treasury dictates to the Federal Reserve, not the other way around. It is the Secretary of the Treasury that dictates the currency war and how to handle the unknown amount of funds available to the Secretary and only the Secretary.
When the ESF was established it was funded with $2billion in 1930 and as Rob Kirby has pointed out time and again, how much is it worth today? $10trillion, $50trillion? Who knows, certainly not the people of the U.S. who have, once again, been hood-winked by the government.
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It would appear the Federal Reserve is in place as a front man for the ESF which allows the real dirty work to happen in super-secret, no minutes necessary meetings that determine the fate of the dollar and has the power to influence currencies around the world.The first one to come to mind is the Japanese Yen. It now makes sense why the Japanese government can purchase every Japanese bond produced as the funding is probably coming from the ESF. Craig Hemke, TFMetals Report, has documented the correlation between the Japanese and the movement of gold on the COMEX/LBMA for the past couple of years - the picture is becoming much clearer as to why this is happening and it makes perfect sense that it would happen. The ESF $2 billion funding materialized from the revaluation of gold in 1934 from $20.00 to $35.00 (approximately) per ounce, overnight.
This is part one and I highly recommend giving this a good listen and give it a good attempt at watching. The person that produced this video could have done a better job of allowing the information to stay on screen for more than 1-2 seconds. The information is invaluable for those who want to know the actual truth. I will provide short commentary along with the each of the remaining parts of this extremely important video series. This is the type of information that puts a great many of the "dots" in place. If you want to know what is <style="text-decoration: underline;">really going on, what do you do? - follow the money.
Part 1 of Video Series by cedecO