Hey Roota! 100 Years is Enough!
So the talk of the financial world is that the Federal Reserve Bank turned 100 on December 23, 2013.... Yahoo? Celebrate? Over their reign they have practically destroyed the purchasing power of the US Dollar.
I have my own theories on the Federal Reserve (mostly bad but some good) but one question that keeps coming back to me is WHY did the US fall for the con back in 1913? Yes, I know that the Fed's charter was signed when most of Congress had already gone home for the holidays...remember it took days for most of them to get back home in 1913. I also know that a perpetual extension was put in place in the 1930's and only CONGRESS can now disband the Fed.
But reading through the New York Times on Sunday my Dad came across an article that was very damning towards the Fed (thanks Dad!). Here's the article and it talks about how JP Morgan has had to keep going back to the Fed for permission to continue running Henry Bath, the largest metals warehouses in the world!
Off Limits but Blessed by the Fed
http://www.nytimes.com/2013/12/22/business/off-limits-but-blessed-by-the-fed.html?_r=0
"Just a few years earlier, the Fed objected to the ownership of Henry Bath by Royal Bank of Scotland and ordered it to sell. But the Fed allowed JPMorgan to buy Bath and fold it into its operations."
"The Fed seems to have been picking winners and losers,"€
"In April 2012, two top bank executives, Blythe Masters, the head of JPMorganâ€(TM)s commodities unit, and Francis Dunleavy, head of its principal investing group, joined Henry Bath as directors."
"Then, just two days before the two-year grace period was up, JPMorgan wrote a letter asking the Fed for another year to meet the requirements of the law."
"Four months later, the Fed granted JPMorganâ€(TM)s request, letting the bank hold the company until July 1, 2013."
"But on May 1, the bank wrote a letter requesting a second yearlong extension."
"The Fed seems to be completely incapable of embracing the concerns over market power and potential market manipulation and systemic and concentration issues."
END
What does it all mean?...SIMPLE! JP Morgan is desperately trying to divest of their COMEX SILVER SHORT but CAN'T get entirely out so they have to keep the physical silver holdings in Henry Bath to claim that they are not holding a naked short to the CFTC.
Although I have talked about this many times on the Road to Roota this is the first article in the mainstream media that exposes one half of the issue.
AND IT WAS PUBLISHED THE DAY BEFORE THE FED TURNED 100!!
Yes, the blackout curtain is being pulled away and the Fed will go down upon enough exposure to the LIGHT. My take...the Fed will destroy itself in the weeks/months to come. Clearly it has started.
Just one more thing...
I find it more than interesting that it was the New York Times that posted this article that may help End the Fed because it was the New York Times that posted an article on June 19, 1912 that may have been the REAL REASON the Fed was created in the first place!
Tale of Vast Riches in the Grand Canyon
http://query.nytimes.com/mem/archive-free/pdf?_r=2&res=940DE7D71F31E233A2575AC1A9609C946396D6CF
"I know that it will be difficult to comprehend that I have the correct conception of the wealth that is buried in the banks of the Colorado River but I can demonstrate every statement I make to be absolutely true, and that my chief shortcoming is an inability to comprehend the vastness of the riches that lie along that great stream"
END Just imagine if you were a "man of wealth" back in 1912 living in New York City and you open up the newspaper on June 19th and read that there was a discovery of gold so VAST that it would instantly DILUTE the Global Monetary Supply EXPONENTIALLY which was the source of your wealth of power!!
I believe their "solution" was to lock this treasure away and create the Federal Reserve to dilute the monetary system manually for the next 100 years...which they have obviously done. Yes, the dollar has lost over 99% of it's value since 1913 and you still can't go to that spot in the Grand Canyon that has been "off-limits" and guarded by the US Marines for over 100 years!
I wonder what their solution would have been if Bitcoin was around in 1912?! :-)
Things are getting very "weird" and they will continue to be weird until the last card is played.
May the Road you choose be the Right Road.
Bix Weir
