GOLD CERTIFITCATES siezed in 1933-34 to be re-released to the public!!

[mikecz]

A new discovery here, but, page 27...

http://quod.lib.umich.edu/p/ppotpus/...+reserve+notes

Pretty interesting that 300,000,000 of gold was withdrawn and earmarked for a "foreign account."

Page 28 describes clearly what FDR did to remove the gold...He used the trading with the enemy act... I will report more as I have time to read...

The bottom of page 29 is intriguing... "but after the passage of the Emergenct Banking Acot of March 9, 1933, it became evident that they (emergency demand notes) would not be needed, because the Act made possible the issue of the necessary amount of emergency currenct in the form of Federal Reserve banknotes which could be based on any sound assets owned by banks

[mikecz]

Ok, has anyone ever actually read the emergency banking act of 1933? Holy wow...

[quote]
Sec. 4.

In order to provide for the safer and more effective operation of the National Banking System and the Federal Reserve System, to preserve for the people the full benefits of the currency provided for by the Congress through the National Banking System and the Federal Reserve System, and to relieve interstate commerce of the burdens and obstructions resulting from the receipt on an unsound or unsafe basis of deposits subject to withdrawal by check, during such emergency period as the President of the United States by proclamation may prescribe, no member bank of the Federal Reserve System shall transact any banking business except to such extent and subject to such regulations, limitations and restrictions as may be prescribed by the Secretary of the Treasury, with the approval of the President. Any individual, partnership, corporation, or association, or any director, officer or employee thereof, violating any of the provisions of this section shall be deemed guilty of a misdemeanor and, upon conviction thereof, shall be fined not more than $10,000 or, if a natural person, may, in addition to such fine, be imprisoned for a term not exceeding ten years. Each day that any such violation continues shall be deemed a separate offense.

The have to follow the rules, and what are the rules?

``Upon the deposit with the Treasurer of the United States, (a) of any direct obligations of the United States or (b) of any notes, drafts, bills of exchange, or bank making such deposit in the manner prescribed by the Secretary of the Treasury shall be entitled to receive from the Comptroller of the Currency circulating notes in blank, duly registered and countersigned. When such circulating notes are issued against the security of obligations of the United States, the amount of such circulating notes shall be equal to the face value of the direct obligations of the United States so deposited as security; and, when issued against the security of notes, drafts, bills of exchange and bankers' acceptances acquired under the provisions of this Act, the amount thereof shall be equal to not more than 90 per cent of the estimated value of such notes, drafts, bills of exchange and bankers' acceptances so deposited as security.

There are so many great things in this statement...

1. How I'm interpreting this, when you deposit a US note (currency of the national banking system) notes shall be taken at face value. When issued as a security against the US note, "the amount thereof shall be equal to not more than 90 per cent of the estimated value of such notes, drafts, bills of exchange and bankers' acceptances so deposited as security". Am I crazy here, the US note is a direct obligation of the United States. When issued against the "security" of the US note, it's a federal reserve note and can only be worth 90% the value of the US note, or direct obligation of the United States. It's like a security of a direct obligation..right?

2. The FRNs shall be received in the same manner as the national banking notes, and shall be redeemable. "Such circulating notes shall be subject to the same tax as is provided by law for the circulating notes of national banks secured by 2 per cent bonds of the United States." There is a tax involved. They shall be taxed the same as the notes of national banks that are secured by a 2 per cent bond of the United states, which is different then a note that is a direct obligation of the united states, a us note.

Keep in mind the national banking system... is the system that created US notes


Another point here, start on pg 1950 a Mr.Vanderlip, member of the original jekyll island group talking a Senator into removing us banknotes from circulation. This conversation is dually worth your time to read. Vanderlip talks heavily about the "wastefullness" of carrying the national bank notes, because THEY CANT BE USED AS A RESERVE!!! This is awesome, kind of a break through day, sorry for all the posts.

http://books.google.com/books?id=NcM3AQAAIAAJ&pg=PA1951&lpg=PA1951&dq=%222+per+cent+bond%22+of+the+united+states,+tax&source=bl&ots=T3cNJkD6dr&sig=jWefnXTcyMHbaNXk-8D-59cmzAQ&hl=en&sa=X&ei=cVYmUdL-GcbsqAG25YDwBQ&ved=0CDMQ6AEwAQ#v=onepage&q=%222%20per%20cent%20bond%22%20of%20the%20united%20states%2C%20tax&f=false

[Freed Gerdes]

I also find it hard to believe that the Treasury has $4.2 billion in Gold Certificates. But presuming that these are issued by the Treasury, and not the Fed, they would be lawful money. But anything the Treasury does these days can only be described as kabuki theatre, designed to misinform the public. So my first bet would be that this particular msiinformation campaign is designed to further blur and confuse the concept of redeemable money. Which is an indirect report that this website is too successful for the continued comfort of the IRS...

[Chex]

no such circulating notes shall be issued under this paragraph after the president has declared by proclamation that the emergency recognized by the president by proclamation of march 6, 1933, has terminated, unless such circulating notes are secured by deposits of bonds of the united states bearing the circulation privilege.

This note is receivable at par in all parts of the United States, in payable in all taxes & excises and all other dues to the United States except duties on imports, and also for all salaries and other debts & demands owning by the United States to individuals, corporations & associations within the United States except interest on the public debt.