Posts tagged U.S. Treasury
Posted by Brianna Panzica on the Wealth Wire
Gold conspiracy theorists don’t trust the government…
Of course, that’s nothing new. By nature, groups like the Gold Anti-Trust Action Committee(GATA), a group formed to expose control over the price of gold, are suspicious of collusion linked to the government.
But now they’re taking this suspicion into action with a petition to audit the nation’s gold reserves. According to the petition, the last full audit of bullion owned by the U.S. Treasury occurred in 1953: 60 years ago.
The Treasury last claimed to have 261 million ounces in its possession on December 31, 2012. But the time lapse between that and the last time the store was officially checked is significant.
“The gold bars need to be assayed and weighed,” the petition advocates. “Once the gold is verified the paper trail must be audited to determine who really owns the gold; i.e. how much has been loaned to bankers and dealers and sold or swapped to non-Treasury entities including foreign governments.”
“The audit must include professional auditors outside of the Mint, Treasury, GAO, Inspector General and the Federal Reserve System,” the petition concludes.
The petition landed a spot on the White House website on Wednesday, January 9. By Monday morning, it had garnered 3,834 signatures.
If it reaches 25,000 by February 8, the White House has to respond. Policy experts will be required to review the request, and a public statement will be made.
Chris Powell, Secretary and Treasurer of GATA, thinks the request is likely a long shot. He wrote in an article published on GoldSeek:
Of course the U.S. government may be less likely to tell the truth about its gold than to declare signers of the petition to be terrorists and to send rocket-firing drone aircraft after them or have them hauled off to the military prison at Guantanamo Bay, Cuba, outside the jurisdiction of the federal courts and beyond any claim of habeas corpus. But it’s a risk we have to take and if enough people sign and the petition has to be answered, clamor about the gold issue will increase.
If you’re interested in signing the petition or in reading the full petition text, you can check it out here.
By Judy Morris
Here’s a ‘Connecting the Dots Moment’ for Americans to ponder: It’s a well documented fact that Congress wiped out the Social Security Trust Fund over the decades to the tune of at least $2.5 trillion and left a worthless pile of IOU’s, here. It’s also well documented that foreign aid, according to 2007 figures, totaled an astounding $2.3 trillion. How would Americans feel if they knew that the government they elected and trusted plundered their Social Security and that their retirement funds landed in the laps of defense contractors and corrupt foreign officials?
Flushing $2.3 trillion in American tax dollars down the foreign aid toilet, here, is not only an act of grand theft but also a gargantuan welfare program for defense contractors. The $2.3 trillion figure quoted in the link is based on 2007 data and hundreds of billions have been added to the foreign aid tab since 2007. Still, it has been estimated that 2/3 of foreign aid lands right in defense contractor laps.
Foreign aid is one of the biggest scams ever because gobs of American taxdollars end up lost, missing, stolen unaccountable and untraceable. Nobody really knows what happens to unaccountable foreign aid dollars. Our government that disburses the money doesn’t even know or, more likely, refuses to disclose who got the money.
It is thought to have been the biggest international cash airlift of all time, when $12billion in aid was flown by the Bush administration to postwar Iraq.
And now, for the first time, investigators auditing the cash have admitted that more than half of that huge amount may have been stolen when it got there in ‘the largest theft of funds in national history’.
Iraq isn’t the only recipient of massive foreign aid that is riddled with scandal. Although $90 billion in aid has poured into Afghanistan since 2001, here, nobody really knows where that money went and Afghan and US officials are determined to keep it that way.
Afghan President Hamid Karzai is blocking efforts by U.S. officials to locate billions of dollars given to aid Afghanistan’s economy, stymieing efforts to combat money laundering of drug money, corruption and funding terrorists.
Karzai is prohibiting U.S. Treasury agents from accessing the Afghan government’s central bank by allowing and even contributing to “hostile working conditions” for advisers there, according to a new report by the U.S. Inspector General’s Office for Afghanistan Re construction.
Afghanistan is just one of many corrupt nations that are the recipients of tons of US foreign aid and even the NYT chirped in on the corruption in Afghanistan, here. Furthermore it is estimated that Afghanistan will need an additional $6-7 billion in aid over the next 10 years, even if aid dollars are slowing down a bit. Reuters reported that a staggering 90% of Afghanistan’s budget comes from aid, here.
More than 90 percent of Afghanistan’s $17.1 billion national budget comes from foreign donation…
How did Afghanistan survive before the era of BIG aid? Just fine! Heck, it’s heroine trade could comfortably bankroll any nation which, of course, raises the issue of precisely why America is so interested in Afghanistan. It’s widely believed and documented that the CIA, frequently dubbed Cocaine Import Agency, is the biggest drug dealer on the planet, here.
As fiscal and economic woes pile up in America, most Americans remain absolutely clueless as to what is really going on and what their government actually does.
Read more like this at http://judymorrisreport.blogspot.com/
Bid Farewell to Pennies and Nickels!
The penny has run out of luck, both in Canada and in the United States. Back in March, the Royal Canadian Mint announced that they were phasing out the penny due to “low purchasing power and rising production costs”, according to CBC News.
Canada was pigeon-holed into this decision after the penny decreased to 1/20th of its original purchasing power, becoming an unnecessary “burden on the economy.”
The U.S. is following Canada’s footsteps regarding the production of pennies and nickels. According to U.S. Treasury Secretary Tim Giethner, our U.S. Mint intends to remove the penny and nickel coins from circulation beginning early in January 2013.
The Mint currently spends about 4.8 cents per penny due to the rising costs of zinc and copper. A nickel valued at five cents now costs approximately 16.2 cents to make due to inflated nickel prices.
Image credit: http://goldsilver.com
Posted by Dominique de Kevelioc de Bailleul on Jul 27, 2012
Gerald Celente fans won’t want to miss Celente’s first interview after getting word that the next head of the Bank of England could be yet another Goldman Sachs boy.
In the spirit of Celente’s famous saying, “You can’t make this stuff up,” Bloomberg News released a trial-balloon article to assess public opinion of UK Prime Minister David Cameron’s potential choice of another former-Goldman Sachs boy, Mark Carney, to become the next governor of the Bank of England to replace Mervin King at the end of King’s term set to expire in 11 months.
“London is losing so much trust as the global financial center that Prime Minister David Cameron may need to consider an unprecedented choice for Bank of England governor: Mark Carney, the Canadian who polices the world’s financial system and has no ties to the bailouts or rigged markets tainting Labour and Conservative governments alike,” Bloomberg begins its article, titled, Carney Leading Bank Of England Seen As Scandal Remedy.
In keeping with his reputation as a top trends forecaster, Celente previously warned in 2011 of the Goldman Sachs takeover of the global financial system. In November of that year following the news that he was ripped off by MF Global the preceding month, Celente spoke with FinancialSense Newshour’s James Puplava about what he pieced together regarding the omnipresent Wall Street firm.
(THE NEW AMERICAN) The Council on Foreign Relations (CFR) proposes that the U.S. Army be used to plan, command, and carry out (with the help of civilian law enforcement) domestic police missions. So says a story appearing in the May/June issue of the influential organization’s official journal,Foreign Affairs. The article lacks a single reference to the Posse Comitatus Act, which prohibits such actions.
In an article penned by Chief of Staff of the U.S. Army, General Raymond T. Odierno, the CFR would see the Army used to address “challenges in the United States itself” in order to keep the homeland safe from domestic disasters, including terrorist attacks. Odierno writes:
Where appropriate we will also dedicate active-duty forces, especially those with niche skills and equipment, to provide civilian officials with a robust set of reliable and rapid response options.
By SCOTT WONG
Freshman Sen. Rand Paul is making good on his promise to cut federal spending. The Kentucky Republican and tea-party favorite said Thursday he’s returning $500,000 to the U.S. Treasury — money from his operating budget that his office never spent.
The half million dollars represents about 16 percent of Paul’s annual budget. He contended no senator had returned as much to taxpayers, though at least two senators disputed that claim. An aide to Sen. Johnny Isakson (R-Ga.) said his office returned $636,036 in unspent money to the Treasury in Fiscal Year 2010 and another $503,161 in 2011.
“I ran to stop the reckless spending. And I ran to end the damaging process of elected officials acting as errand boys, competing to see who could bring back the biggest check and the most amount of pork,” Paul said at a news conference in Louisville, where he presented taxpayers with a massive mock check for $500,000.
“I hope this sets an example for the rest of government — at all levels,” he added. “We can carry out our duties in a fiscally responsible way. Government can be both smart and efficient. We are proving that — and trying to convince the rest of Washington.”
Paul is the son of GOP presidential candidate Ron Paul and co-founded the Senate tea party caucus. As the younger Paul stumped for his father in Iowa and New Hampshire, there’s been plenty of speculation that Rand Paul could launch a presidential bid of his own in 2016.
Here are some really interesting Dr. Ron Paul facts about his life and career…
Facts about Dr. Ron Pauls Personal Life…
- He was the 220 yard dash state champion at Dormont High School.
- He received a B.S. degree in biology from Gettysburg College in 1957.
- He earned a Doctor Of Medicine degree from Duke University of Medicine in 1961.
- He was a Captain in the U.S. Air Force and served as a flight surgeon from 1963 to 1965 in Viet Nam and then served in the U.S. National Guard from 1965 to 1968.
- He started his own practice as an OBGYN in 1968 and delivered over 4000 babies in his career as a doctor.
- Instead of accepting Medicaid or Medicare payments for his poor patients, Dr. Paul lowered his fees or offered his services for free.
- He has been married to the same woman for 54 years.
- He has 5 children, 18 grandchildren, and 4 great-grandchildren.
- At 76, and schedule permitting, Ron Paul starts each day with a 3 to 4 mile walk and finishes with a 10 to 15 mile bike ride.
- Ron Paul is the only Congressman to have ever hit a home run in Congressional Baseball Games…and it was an out of the park home run!
- He became politically active the day Richard Nixon took the USD off the Gold Standard.
- He has NEVER voted to raise taxes.
- He has NEVER voted for an unbalanced budget.
- He has NEVER voted for a federal restriction on gun ownership.
- He has NEVER voted to raise congressional pay.
- He has NEVER taken a government-paid junket.
- He has NEVER voted to increase the power of the executive branch.
- He voted AGAINST the Patriot Act.
- He voted AGAINST regulating the Internet.
- He voted AGAINST the Iraq war.
- He has NEVER voted for any legislation that would limit your freedom to eat the food you choose or take whatever vitamin supplement you choose.
- He DOES NOT participate in the lucrative congressional pension program.
- He returns a portion of his annual congressional office budget to the U.S. Treasury every year.