More info on the ROBBERY and LOOTING here:
(kind of hard to wrap your head around all of this)
US Treasury Exchange Stabilization Fund Topped Off to Fully Enable the Loot
March 29, 2020 Russ Winter Articles by Russ Winter, Business, Hidden History, Winter Watch Articles 6
https://i0.wp.com/www.winterwatch.ne...59%2C194&ssl=1 The stimulus aka the hara-kiri bill had provisions for the “replenishment” of the murky secretive Treasury’s Exchange Stabilization Fund (ESF).
This is what Trumpian mucky muck Lawrence Kudlow said at the press conference ….
“And finally, I want to mention the Treasury’s Exchange Stabilization Fund. That will be replenished. It’s important because that fund opens the door for Federal Reserve fire power to deal in a broad-based way through the economy for distressed industries, for small businesses, for financial turbulence. You’ve already seen the Fed take action. They intend to take more action. And in order to get this we have to replenish the Treasury’s emergency fund. It’s very, very important. Not everybody understands that. That fund, by the way, will be overseen by an oversight board and an Inspector General. It will be completely transparent. So, the total package here comes to roughly $6 trillion — $2 trillion direct assistance, roughly $4 trillion in Federal Reserve lending power.”
Constitutionally the Secretary of the Treasury can only spend money that has been appropriated by Congress. But with the consent of the President, the Secretary has substantial leeway to use the money in the Exchange Stabilization Fund (ESF) that Congress created in the Gold Reserve Act in 1934. The Act initially established the ESF as a reserve to stabilize the U.S. dollar in case of turmoil in foreign currency markets after the U.S. abandoned the gold standard.
But over time, Treasury has mostly used it lend to other economies on the brink of default—for example, to stabilize Mexican government debt in the 1994 peso crisis. As amended in the late 1970s, the Act provides that “the Secretary…with the approval of the President, may deal in gold, foreign exchange, and other instruments of credit and securities.”
As of the end of February 2020, the ESF claimed it held $93.7 billion in U.S. dollars, euros, Japanese yen, and Special Drawing Rights, an international reserve asset created by the IMF. There were $53.4 billion in liabilities – netting about $40 billion.
This has been increased in the hara-kiri bill by $454 billion – which once it is provided as collateral can be further leveraged in the manner Kudlow describes. With this largess the Treasury through the ESF will hyper-manipulate the economy.
Secretary of Treasury Steven Mnuchin, is an associate of vampire squid Goldman Sachs and billionaire George Soros. In 2002, Mnuchin left his 17-year post at Goldman to run a credit fund set up by Soros. In 2004, Mnuchin and two fellow echoberg former Goldman colleagues founded hedge fund Dune Capital Management LP with the financial backing from Soros.
In 2008, IndyMac Bank in Pasadena, Calif., collapsed in one of the largest bank failures in U.S. history. Mnuchin led a group of investors, including funds run by Soros and other hedge-fund and private-equity titans, who bought it (renamed One West) from the government for about $1.5 billion. Illustrating in spades how parasite guildists work, the Federal Deposit Insurance Corporation (FDIC) guaranteed to cover a portion of any future loan losses, a lucrative arrangement for Mnuchin and his partners.
Munchkin is errand boy for international bankers. His background is as a public information officer. He’s not a financial genius. Why’s he so trusted? Rothschild family member perhaps? Trusted PIO, certainly. Proving ground was Sears, and bust from last crisis. He proved he has no humanity, no empathy (robo filing foreclosures; screwing Sears employees out of pensions while college buddy looted company). Ran same method with IndyMac, renamed One West.
Nothing to see here, move along?
https://i0.wp.com/www.winterwatch.ne...57%2C350&ssl=1Sec. Treasury Mnunchin on left, Jacob Rothschild flashing Illuminism sign on right- related?
In the 2020 version of the stimulus aka hara-kiri loot, the ESF has expanded or re-opened programs to accept as collateral money market fund assets, corporate bonds and loans, municipal bonds, and asset backs securities (ABS) backed by consumer and small business loans. Initially the Treasury promised the Fed $50 billion out of the ESF to cover any losses in these new lending programs. If there are losses, the taxpayers are on the hook.
“The ESF can be used to purchase or sell foreign currencies, to hold U.S. foreign exchange and Special Drawing Rights (SDR) assets, and to provide financing to foreign governments. All operations of the ESF require the explicit authorization of the Secretary of the Treasury (‘the Secretary’).
“The Secretary is responsible for the formulation and implementation of U.S. international monetary and financial policy, including exchange market intervention policy. The ESF helps the Secretary to carry out these responsibilities. By law, the Secretary has considerable discretion in the use of ESF resources.
Since WWII the ESF has been a “secret weapon” for funding black ops of every sort. During the war, OSS (the precursor to the CIA) used it for covert financial operations to “keep Nazis out of Mexico and Central America.” They are able to accomplish this because the Secretary of the Treasury is under no obligation to obey the laws of the US thus the ESF has been funding black ops around the world for over 80 years.
https://i1.wp.com/www.winterwatch.ne...53%2C144&ssl=1War Behind the Iron Curtain- Peter Grose It was the ESF that was behind the Bretton Woods agreement establishing the IMF and World Bank. Under Harry Dexter White, a Treasury Dept. employee and member of the OSS Committee the ESF began using taxpayer dollars to interfere in foreign elections and later laundering money from CIA drug ops, all through the NY Fed. White also became the first president of the IMF. White was a most sketchy character as Winter Watch discussed in Harry Dexter White: An Enemy Within
In 1961 the ESF began using currency swaps to dominate foreign currency markets. They also use the Fed to control the derivatives market. It is the fonte of what’s been referred to as the Plunge Protection Team (PPT). Since the 1960’s, because of the ESF, the entire US economy has been progressively based entirely on smoke and mirrors… a gigantic ponzi scheme based on statistical propaganda.
ESF stabilizes the dollar, by forcing regime change around the world. During the 1980’s the ESF began smuggling bulk currency out of the US funding the Afghan opium trade for the CIA. Also the Columbian cocaine trade. To maximize profits they got forfeiture laws passed where the seizure of assets are funneled into the Treasury.
Read: Lame Excuses: WaPo’s Afghanistan Papers
The BCCI Affair as a Template for the New Underworld Order Crime Syndicate
Takeaway: Under powers and new funds authorized by the Stimulus aka Hara-kiri Bill the control, activities and reach of the Treasury and ESF has been expanded into even more secretive arenas we can only imagine.
https://i1.wp.com/www.winterwatch.ne...87%2C350&ssl=1Source:https://steemit.com/informationwar/@...ilization-fund
Originally Posted by Amanda
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