The ESF and Its History (Part 2)

http://www.youtube.com/watch?v=2ssrcD5GdPQ&am...player_embedded

http://www.youtube.com/watch?v=ImuVUab6WW0...player_embedded

Links to material covered in video:

INTRO

target="_blank" Exchange Stabilization Fund — Introduction (Treasury’s website)

target="_blank" Above a Chinese Cafe, GAO Men Investigate Secret Treasury Unit (Wall Street Journal, Jan 28, 1971)

Us Treasury Has Control-free ‘kitty’ (St. Petersburg Times, May 24, 1976)

target="_blank" Two Billions Secretly Used By Treasury (Gettysburg Times, Dec 7, 1940)

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The ESF’s official purpose is defending (stabilizing) the value of the dollar

Google Archive News results target="_blank"for “exchange stabilization fund”

target="_blank" Exchange Stabilization Fund – Fedpoints (New York Fed’s website)

target="_blank" U.S. Bought $1 Billion During March Yen Intervention (Business Week, May 13, 2011)

TREASURY SETS UP TWO-BILLION FUND FOR STABILIZATION (New York Times, May 1, 1934)

Google Archive News results target="_blank"for Inflation or deflation debate

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The ESF operates FROM WITHIN the New York Fed

target="_blank" Exchange Stabilization Fund – Fedpoints (New York Fed’s website)

Exchange Stabilization Fund – Finances and Operations (Treasury’s website)

target="_blank" Dollar’s Defense (Wall Street Journal, Mar 1, 1962)

target="_blank" Fed to lend $85 billion to AIG, take 80 percent stake (Reuters, Sep 16, 2008)

target="_blank" Secret Banking Cabal Emerges From AIG Shadows (Bloomberg, Jan 28, 2010)

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The ESF has authority over all International Monetary Affairs

target="_blank" Exchange Stabilization Fund – Relations with the Federal Reserve (Treasury’s website)

target="_blank" Exchange Stabilization Fund — Introduction (Treasury’s website)

The Fed Debate in the 1960s over Sterilized Foreign Exchange Intervention (Richmond Fed’s website)

target="_blank" William McChesney Martin, Jr. (From Wikipedia)

US Fed launches four new currency swap lines (Reuters, Oct 30, 2008)

target="_blank" AIG borrows $90.3 billion from Federal Reserve (Reuters, Oct 24, 2008)

Intervention: Simple but Secret (New York Times, Jan 7, 1988)

Google Archive News results target="_blank"for McCain takes lead over Obama: poll

target="_blank" McCain takes lead over Obama: poll (Reuters, Aug 20, 2008)

target="_blank" Questions for Mr. Geithner (New York Times, Dec 14, 2008)

target="_blank" White House Insider: Eric Holder Is Gonna Fall (Newsflavor, May 9, 2011 )

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The ESF keeps a low profile using the Fed as a front.

target="_blank" Get Briefed: Dr. Ron Paul (Forbes, Jan 11, 2010)

target="_blank" U.S. Monetary Authorities Intervened in FX Markets during the First Quarter (New York Fed’s website, May 13, 2011)

Google Archive News results target="_blank"for “US monetary authorities”

target="_blank" System Open Market Account – Fedpoints (New York Fed’s website)

Fed takes heat on AIG from both sides of Congress (Reuters, Sep 22, 2008)

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Hijacking the Fed

target="_blank" FRASER » Federal Reserve Archival System for Economic Research
Author(s): United States. Congress. House. Committee on Banking and Currency
Title: Gold Reserve Act of 1934: Hearings on S. 2366
Citation: Senate Committee on Banking and Currency, Jan 19-23, 1934. – pp.

HEARINGS ON THE GOLD RESERVE ACT OF 1934 (Fed’s website)

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Taking control of America’s gold

Above a Chinese Cafe, GAO Men Investigate Secret Treasury Unit (Wall Street Journal, Jan 28, 1971)

target="_blank" History of Federal Reserve Free Edition

target="_blank" 8.5 BILLION IN GOLD IS SECRETLY REMOVED FROM NEW YORK TO FORT KNOX (Lewiston Daily Sun, Mar 1, 1941)

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The ESF was guaranteed disaster

HEARINGS ON THE GOLD RESERVE ACT OF 1934 (Fed’s website)

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Dictatorial power and no oversight

Here’s Idea Where That 2 Billion Dollars Is Going (San Jose News, Apr 12, 1934)

target="_blank" McGugin, Leading Drive to Put Stabilization Under Board, Rallies Only 73 Votes (New York Times, Jan 21, 1934)

The Exchange Stabilization Fund: Slush Money or War Chest?
target="_blank" Chapter 3 — ESF’s History

target="_blank" Congressional Record (July 16 1998)

target="_blank" Stabilization Fund Secrecy Due to Desire to Avoid Publicity on Possible Losses (Pittsburgh Post-Gazette, Jan 27, 1934)

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FINANCING COVERT OPERATIONS

Google Archive News results target="_blank"for Stabilization Fund Is Called Secret Weapon

Stabilization Fund Is Called Secret Weapon (Evening Independent, Dec 6, 1940)

Stabilization Fund Pictured As Secret Weapon In Hands Of Us (Lawrence Journal-World, Dec 6, 1940)

China To Get Us War Aid (Reading Eagle, Dec 2, 1940)

target="_blank" Out In The Open (Toledo Blade, Dec 4, 1940)

Us Funds Counter Axis (Tuscaloosa News, Dec 8, 1940)

The Exchange Stabilization Fund: Slush Money or War Chest?
target="_blank" Chapter 3 — ESF’s History

target="_blank" Four Senators Fight US Cash Aid to England (Pittsburgh Press, Dec 7, 1940)

Four Senators To Oppose Stabilization Fund Loans (Pittsburgh Press, Dec 7, 1940)

target="_blank" Mexico: Policy Failure, Moral Hazard, and Market Solutions (CATO Institute, Oct 10, 1995)

target="_blank" Exchange Stabilization Fund — History (Treasury’s website)

target="_blank" ESF Credit Operations (Treasury’s website)

target="_blank" From Obscurity to Notoriety: A Biography of the Exchange Stabilization Fund (Federal Reserve’s website, May 1997)

target="_blank" From the Exchange Stabilization Fund to the International Monetary Fund (The National Bureau of Economic Research, January 2001)

White Held The Reins In Many Sensitive Jobs (Newburgh News, Nov 19, 1953)

White Joined, And Joined And Joined (Pittsburgh Press, Dec 3, 1953)

Office of Strategic Services (Wikipedia)

Books of the Times; ‘A Vast Chaotic Organization’ (New York Times, Feb 28, 1946)

target="_blank" TRUMAN ENDS OSS, SHIFTS FUNCTIONS (New York Times, Sep 21, 1945)

Keep Propaganda In Its Place (Sarasota Herald-Tribune, Aug 16, 1948)

target="_blank" TERROR A WEAPON IN US PROPAGANDA (New York Times, Dec 12, 1951)

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ESF designs world monetary system

target="_blank" From the Exchange Stabilization Fund to the International Monetary Fund (The National Bureau of Economic Research, January 2001)

US OFFERS PARLEY A CURRENCY PLAN (New York Times, Jan 21, 1942)

Without Cost? (Lawrence Journal-World, Apr 10, 1943)

target="_blank" Plan Advanced . Treasury Offers Second Blueprint (Toledo Blade, Nov 24, 1943)

http://www.worldbank.org/ (The World Bank’s website)

www.imf.org/ (IMF’s website)

International monetary systems (Wikipedia)

target="_blank" History of Federal Reserve Free Edition

target="_blank" From Obscurity to Notoriety: A Biography of the Exchange Stabilization Fund (Federal Reserve’s website, May 1997)

White Held The Reins In Many Sensitive Jobs (Newburgh News, Nov 19, 1953)

target="_blank" World Currency Study Touches Every Citizen (St. Petersburg Times, Apr 8, 1943)

The Fed Debate in the 1960s over Sterilized Foreign Exchange Intervention (Richmond Fed’s website)

Bretton Woods Progress Report . Quotas, The Toughest Hurdle, Now Safely Negotiated (Financial Post, Jul 22, 1944)

World Money Plan Proposed . Giant Stabilization Fund Is Basis (Deseret News, Aug 20, 1943)

target="_blank" Taft Attacks Bretton Pact . Says Monetary Setup Is Camouflaged Loan (Telegraph-Herald, Jul 12, 1945)

target="_blank" 10th Of Nation’s Revenue Goes For Foreign Aid (St. Petersburg Times, Oct 22, 1952)

target="_blank" Oral History Interview with Samuel P. Hayes (Harry S. Truman Library & Museum, Jul 16, 1975)

target="_blank" FOREIGN AID: MAJOR OPPOSITION RISES IN CONGRESS (New York Times, Aug 25, 1963)

target="_blank" ESF Credit Operations (Treasury’s website)

The Exchange Stabilization Fund: Slush Money or War Chest?
target="_blank" Chapter 5 — Institutional Position

HEARINGS ON THE GOLD RESERVE ACT OF 1934 (Fed’s website)

Google Archive News results target="_blank"for Bankers Opposed To Stabilization Fund

Bankers Approve Modified Bretton Woods (Deseret News, Mar 17, 1945)

target="_blank" US Swinging To The Bretton Woods Plan (Youngstown Vindicator, Mar 25, 1945)

Google Archive News results target="_blank"for International Fund treasury propaganda

target="_blank" Banker Assails Money Parley (St. Petersburg Times, Nov 27, 1944)

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Donations welcome

target="_blank" Gold Data: Lesson in Artful Dodging (Wall Street Journal, Aug 1, 1967)

From the Exchange Stabilization Fund to the International Monetary Fund (The National Bureau of Economic Research, January 2001)

target="_blank" Above a Chinese Cafe, GAO Men Investigate Secret Treasury Unit (Wall Street Journal, Jan 28, 1971)

target="_blank" The CIA’s 3-Decade Effort To Mold the World’s Views (New York Times, Dec 25, 1977)

For donations:
Thank you for supporting Market Skeptics (MarketSkeptics.com)

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Running the black budget

target="_blank" Operation Rollback: America’s Secret War Behind the Iron Curtain By Peter Grose

target="_blank" From Obscurity to Notoriety: A Biography of the Exchange Stabilization Fund (Federal Reserve’s website, May 1997)

target="_blank" OPC, OSO and interim covert solutions 1948-1951 (Wikipedia)

target="_blank" Legacy of Ashes: The History of the CIA by Tim Weiner

target="_blank" A Brief History of the CIA: 1945-1953 (Truman) (The Lippard Blog, Aug 11, 2007)

target="_blank" The Life and Times of the CIA (LewRockwell.com, July 25, 2007)

target="_blank" The Presidential Slush Fund (Entrepreneur, September 2000)

Blood money (People’s Weekly World, Apr 5, 1997)

target="_blank" History of Federal Reserve Free Edition

target="_blank" ESF Credit Operations (Treasury’s website)

target="_blank" Mexico: Policy Failure, Moral Hazard, and Market Solutions (CATO Institute, Oct 10, 1995)

target="_blank" Out In The Open (Toledo Blade, Dec 4, 1940)

The Exchange Stabilization Fund: Slush Money or War Chest?
target="_blank" Chapter 3 — ESF’s History

target="_blank" Congressional Record (July 16 1998)

target="_blank" CIA, Legal Restriction (answers.com)

Eric de Carbonnel