Speaker = Summaries

=AB=20 Louie Hunter | Main | Bob=20 Koncerak =BB

Louie Hunter

Madison Forum member Louis Hunter spoke to members and guests at the=20 breakfast meeting Saturday, April 26, 2008. His topic was The Federal = Reserve =96=20 Part Two.

All money is debt based money. Government issues a treasury security = to the=20 Fed and they hypothecate it into Federal Reserve Notes. The = hypothecation is a=20 multiple of 94%.

Each time this new money is created and spent, it is re-hypothecated = another=20 94%. (Each Deposit becomes another basis for the creation of new money. = This=20 occurs millions of times each day. The money supply grows each time, and = in the=20 process, devalues the money already in the system and in your wallet, = savings=20 account, and overall wealth).

About two years ago, the Fed quit publishing the M3 figure which is = the=20 amount of money flowing in the system. When they stopped reporting this = figure,=20 the total amount in circulation was estimated to be $10.3 trillion. = Private=20 companies and individuals have been watching and counting, and the = figure is now=20 estimated to be $13.5 trillion, a 30% increase.

By the way, the International Monetary Fund (IMF) announced two weeks = ago=20 that they were going to ask Congress to sell abut 400 tons of their gold = reserves. The excuse is to balance their books. Why? Because the world = has=20 figured out that they don=92t have to play this game anymore, and they = can use the=20 Euro or their own sovereign currency and will completely destabilize our = markets, costs of living, and money supply. If the IMF is allowed to = sell this=20 gold, which was taken by nationalizing our private gold back in 1933 and = carried=20 on their books at $42 an ounce, they will use the paper currency to = balance=20 their books with about half, and they then plan on investing in major=20 multi-national corporations with the rest. By the way, the sale of the = gold will=20 increase the supply so that the price will go down, and they will then = use newly=20 created Federal Reserve Notes (FRNs) to repurchase the gold, and the = process=20 starts all over again.

Moving to the IMF =96 IMF and World Bank were created at the Bretton = Woods=20 meeting that is basically where the U S admitted that we had more = redeemable=20 FRNs in circulation than we had gold to redeem them with. WE WERE = BANKRUPT! And,=20 the world wanted to be paid.

Let=92s look at the relationship of the Fed to the IMF. Basically, = the Fed is=20 the local branch of the IMF and the IRS is the collection agent for = both.

We have a Fed Chairman and a Treasury Secretary. The Fed Chairman is = the=20 alternate to the IMF Board, and the Secretary of the Treasury is = councilor to=20 the IMF. He takes no oath of office and is not paid by the U S = Government. These=20 two positions are the connection to the international banking system = that is=20 responsible to no government, is a private corporation, and when a = nation enters=20 this type of arrangement, the nation has no sovereignty (The Law of = Nations).=20 The World Bank is not a branch of government.

The loss of sovereignty has been upheld in court in the case of = Dunhill of=20 London vs. the Republic of Cuba, which states that =93it is a sound = principle that=20 when a government joins a corporation =96 it takes on the character of = its=20 association.=94 This has also been upheld in the case of Novak vs. World = Bank.

Again, the U S is a voting shareholder and has waived its = sovereignty!!!

WHAT DOES THE IMF DO?

The IMF basically sets the exchange rate of currencies around the = world. They=20 monitor the float. The dollar went to the float in 1976. The Fed prints = and the=20 IMF sets its value.

Their job is to maintain balance of values so that the world monetary = system=20 can be used to exchange capital over here for capital over there. The = IMF sets=20 the exchange rate by using a =93Special Drawing Right=94. The SDR is a = formula that=20 the IMF has for =93weighted average of major accepted currencies=94. = This formula=20 has no real value and is currently being revamped. They will fail, as = they have=20 in the past, because the currency has no real value.

Think of the SDR as a credit card which is basically a bill of = exchange.=20 Understand that a credit card has no value. You cannot say it is worth a = dollar=20 value in coin or currency. But, you can exchange it for something of = value. That=20 is the way all fiat currency works. It is worth an agreed upon value, = but the=20 paper itself has no worth or value.

Don=92t be fooled by the paper in your wallet that says it is a = dollar. A=20 dollar is specifically, per the Constitution, 371=BC grains of pure Troy = silver.=20 Try to exchange an FRN for a silver dollar. It won=92t happen.

Again, the IMF regulates the values of the different but accepted=20 currencies.

The IMF uses FRNs in its loans, and countries which accept them = accept it as=20 part of their base.

Loaning to foreign countries was allowed under the Edge Act of 1917. = This=20 allowed the National Banks to loan to a sovereign nation. The receiving = country=20 had to accept the terms of the bank and make the FRN part of its = monetary=20 basis.

The IMF is an international debt system. Not hard to figure this one = out,=20 it=92s the Fed on an international basis.

In 1968, the SDR replaced gold. The debts of the U S went from being = debts of=20 pure gold to an SDR, which is basically a bank entry. Imagine the other = nations=20 of the world and how ripped off they must have felt.

The gold that the IMF had was gold that was nationalized by FDR in = 1933. It=20 was illegal to own gold. There was not enough to cover the outstanding = FRNs, the=20 stock markets, or securities. The gold was collected by the U S = government and=20 was then turned over to the IMF for pennies on the dollar.

At this time, all gold contracts were repudiated. A contract that = specifies=20 repayment by our government in gold was declared null and void and from = that=20 point on ignored.

The international community went nuts and forced the gold to be used = to=20 settle international commitments to avoid wars. Due to the lack of = complete=20 reimbursement, countries were thrown slowly into economic crisis. Who = was the=20 first to fail, and what was the outcome? Germany and the rise of Hitler. = The=20 country had hyperinflation and was a total shambles economically. Hitler = seized=20 on the moment of weakness and quickly took over with the help of = financiers from=20 the U S and the international banking communities. Remember Warburg of = Germany,=20 and Prescott Bush. Ford continued to supply trucks and parts to Germany = and=20 Hitler long after we entered the war. This means that our soldiers = fought longer=20 than necessary, since Hitler could keep the necessary machines to fight = with.=20 This is treason for the sake of profit.

Keep in mind that all money is debt based. The creation comes from a = debt=20 instrument, and any so called =93economic growth=94 is actually an = increase in the=20 volume of debt in circulation.

The debt is never designed to be paid off. Unfortunately, the = consumer and=20 business bear the risk of currency fluctuation. Not governments.

Governments that try to withdraw from the IMF must pay off their = debt, and=20 they find out this is impossible. Mexico has collapsed several times = under the=20 strain of this debt-based monetary system.

THERE IS NO SOLUTION TO THE EQUATION!!!

You ask how is this legal? Because Article 9 of the IMF Charter says = that=20 =93the IMF is not subject to judicial process in the U S.=94 The Fed is = private, and=20 the IMF is autonomous. The U S is a shareholder in a corporation and has = no=20 sovereign rights, including the right to oversee, and there is no = resolution to=20 the equation for extracting ourselves from it, but possibly war.

In Mendaro vs. the World Bank: Page 619 - the judge ruled =93that the = member=20 owes a duty entirely to the bank and no other authority=94.

The Secretary of the Treasury is an officer of the bank. He is a = corporate=20 governor. Check your money. The contract exists with two=20 signatures.

Posted on April 28, = 2008 4:32 PM=20 | Permalink=20

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