A Phone Call To The Federal Reserve Bank in San Francisco

This text is been all around the web for years but the content is timeless! The first time I ever read it, it had been posted here http://www.apfn.org/apfn/money2.htm. Although verifying if this was an actual phone call is indeed impossible–any doubts to the validity of content of this conversation can be cleared up by calling your nearest Federal Reserve Bank, YOU NOW KNOW THE QUESTIONS TO ASK! You won’t find them listed under the Federal Government. They are in the white pages, along with Federal Express, Federal Deposit Insurance Corp. (FDIC), and any other business. Another great indicator of a supposed ‘Federal’ entity is looking at the website address they appear at, only ‘official’ governement entities reside at .gov addresses. If the address is .org, .com. .biz, or dot else, the entity is private, and most likely a corporation. Only the ‘Board of Governors’ has a .gov address. Find out for yourself if all this is true.

The following is a conversation with Mr. Ron Supinski of the Public Information Department of the San Francisco Federal Reserve Bank. This is an account of that conversation.

CALLER
Mr. Supinski, does my country own the Federal Reserve System?

MR. SUPINSKI
We are an agency of the government.

CALLER
That s not my question. Is it owned by my country?

MR.SUPINSKI
It is an agency of the government created by congress.

CALLER
Is the Federal Reserve a Corporation?

MR. SUPINSKI
Yes

CALLER
Does my government own any of the stock in the Federal Reserve?

MR. SUPINSKI
No, it is owned by the member banks.

CALLER
Are the member banks private corporations?

MR. SUPINSKI
Yes

CALLER
Are Federal Reserve Notes backed by anything?

MR.SUPINSKI
Yes, by the assets of the Federal Reserve but, primarily by the power of congress to lay tax on the people.

CALLER
Did you say, by the power to collect taxes is what backs Federal Reserve Notes?

MR. SUPINSKI
Yes

CALLER
What are the total assets of the Federal Reserve?

MR. SUPINSKI
The San Francisco Bank has $36 Billion in assets.

CALLER
What are these assets composed of?

MR.SUPINSKI
Gold, the Federal Reserve Bank itself and government securities.

CALLER
What value does the Federal Reserve Bank carry gold per oz. on their books?

MR.SUPINSKI
I don t have that information but the San Francisco Bank has $1.6 billion in gold.

CALLER
Are you saying the Federal Reserve Bank of San Francisco has $1.6 billion in gold, the bank itself and the balance of the assets is government securities?

MR. SUPINSKI
Yes.

CALLER
Where does the Federal Reserve get Federal Reserve Notes from?

MR. SUPINSKI
They are authorized by the Treasury.

CALLER
How much does the Federal Reserve pay for a $10 Federal Reserve Note?

MR. SUPINSKI
Fifty to seventy cents.

CALLER
How much do they pay for a $100.00 Federal Reserve Note?

MR. SUPINSKI
The same fifty to seventy cents.

CALLER
To pay only fifty cents for a $100.00 is a tremendous gain, isn t it?

MR. SUPINSKI
Yes

CALLER
According to the US Treasury, the Federal Reserve pays $20.60 per 1,000 denomination or a little over two cents for a $100.00 bill, is that correct?

MR. SUPINSKI
That is probably close.

CALLER
Doesn’t the Federal Reserve use the Federal Reserve Notes that cost about two cents each to purchase US Bonds from the government?

MR. SUPINSKI
Yes, but there is more to it than that.

CALLER
Basically, that is what happens?

MR. SUPINSKI
Yes, basically you are correct.

CALLER
How many Federal Reserve Notes are in circulation?

MR.SUPINSKI
$263 billion and we can only account for a small percentage.

CALLER
Where did they go?

MR.SUPINSKI
People’s mattress, buried in their back yards and illegal drug money.

CALLER
Since the debt is payable in Federal Reserve Notes, how can the $4 trillion national debt be paid off with the total Federal Reserve Notes in circulation?

MR. SUPINSKI
I don t know.

CALLER
If the Federal Government would collect every Federal Reserve Note in circulation would it be mathematically possible to pay the $4 trillion national debt?

MR. SUPINSKI
No

CALLER
Am I correct when I say, $1 deposited in a member bank, $8 can be lent out through Fractional Reserve Policy?

MR. SUPINSKI
About $7.

CALLER
Correct me if I am wrong but, $7 of additional Federal Reserve Notes were never put in circulation.But, for lack of
better words were “created out of thin air ” in the form of credits and the two cents per denomination were not paid either.In other words, the Federal Reserve Notes were not physically printed but, in reality were created by a journal entry and lent at interest.Is that correct?

MR. SUPINSKI
Yes

CALLER
Is that the reason there are only $263 billion Federal Reserve Notes in circulation?

MR. SUPINSKI
That is part of the reason.

CALLER
Am I mistaking that when the Federal Reserve Act was passed (on Christmas Eve) in 1913, it transferred the power to coin and issue our nation s money and to regulate the value thereof from Congress to a Private corporation.And my country now borrows what should be our own money from the Federal Reserve (a private corporation) plus interest.Is that correct and the debt can never be paid off under the current money system of country?

MR. SUPINSKI
Basically, yes.

CALLER
I smell a rat, do you?

MR. SUPINSKI
I am sorry, I can’t answer that, I work here.

CALLER
Has the Federal Reserve ever been independently audited?

MR. SUPINSKI
We are audited.

CALLER
Why is there a current House Resolution 1486 calling for a complete audit of the Federal Reserve by the GAO and why is the Federal Reserve resisting?

MR. SUPINSKI
I don’t know.

CALLER
Does the Federal Reserve regulate the value of Federal Reserve Notes and interest rates?

MR. SUPINSKI
Yes

CALLER
Explain how the Federal Reserve System can be Constitutional if, only the Congress of the US, which comprises of the Senate and the House of representatives has the power to coin and issue our money supply and regulate the value thereof?[Article 1 Section 1 and Section 8] Nowhere, in the Constitution does it give Congress the power or authority to transfer any powers granted under the Constitution to a private corporation or, does it?

MR.SUPINSKI
I am not an expert on constitutional law.I can refer you to our legal department.

CALLER
I can tell you I have read the Constitution.It does NOT provide that any power granted can be transferred to a private corporation.Doesn’t it specifically state, all other powers not granted are reserved to the States and to the citizens?Does that mean to a private corporation?

MR. SUPINSKI
I don’t think so, but we were created by Congress.

CALLER
Would you agree it is our country and it should be our money as provided by our Constitution?

MR. SUPINSKI
I understand what you are saying.

CALLER
Why should we borrow our own money from a private consortium of bankers?Isn’t this why we had a revolution, created a separate sovereign nation and a Bill of Rights?

MR. SUPINSKI
(Declined to answer).

CALLER
Has the Federal Reserve ever been declared constitutional by the Supreme Court?

MR.SUPINSKI
I believe there have been court cases on the matter.
www.freedomfinancialconsultants.com/declaration.htm
http://www.freedomfinancialconsultants.com/declaration.htm

CALLER
Have there been Supreme Court Cases?

MR. SUPINSKI
I think so, but I am not sure.

CALLER
Didn’t the Supreme Court declare unanimously in A.L.A. Schechter Poultry Corp. vs. US and Carter vs. Carter Coal Co. the corporative-state arrangement an unconstitutional delegation of legislative power?[“The power conferred is the power to regulate. This is legislative delegation in its most obnoxious form; for it is not even delegation to an official or an official body, presumptively disinterested, but to private persons.”Carter vs. Carter Coal Co…]

MR.SUPINSKI
I don’t know, I can refer you to our legal department.

CALLER
Isn’t the current money system a house of cards that must fall because, the debt can mathematically never be paid-off?

MR.SUPINSKI
It appears that way.I can tell you have been looking into this matter and are very knowledgeable.However, we do
have a solution.

CALLER
What is the solution?

MR. SUPINSKI
The Debit Card.

CALLER
Do you mean under the EFT Act (Electronic Funds Transfer)? Isn’t that very frightening, when one considers the capabilities of computers?It would provide the government and all it s agencies, including the Federal Reserve such information as: You went to the gas station @ 2:30 and bought $20.00 of unleaded gas @ $3.41 per gallon and then you went to the grocery store @ 2:58 and bought bread, lunch meat and milk for $12.32 and then went to the drug store @ 3:30 and bought cold medicine for $5.62.In other words, they would know where we go, when we went, how much we paid, how much the merchant paid and how much profit he made.Under the EFT they will literally know everything about us.Isn’t that kind of scary?

MR. SUPINSKI
Yes, it makes you wonder.

CALLER
I smell a GIANT RAT that has overthrown my constitution. Aren’t we paying tribute in the form of income taxes to a consortium of private bankers?

MR. SUPINSKI
I can’t call it tribute, it is interest.

CALLER
Haven’t all elected officials taken an oath of office to preserve and defend the Constitution from enemies both foreign and domestic?Isn’t the Federal Reserve a domestic enemy?

MR. SUPINSKI
I can t say that.

CALLER
Our elected officials and members of the Federal Reserve are guilty of aiding and abetting the overthrowing of my
Constitution and that is treason.Isn’t the punishment of treason death?

MR. SUPINSKI
I believe so.

CALLER
Thank you for your time and information and if I may say so, I think you should take the necessary steps to protect you and your family and withdraw your money from the banks before the collapse, I am.

MR. SUPINSKI
It doesn’t look good.

CALLER
May God have mercy on the souls who are behind this unconstitutional and criminal act called the Federal Reserve.When the ALMIGHTY MASS awakens to this giant hoax, they will not take it with a grain of salt.It has been a pleasure talking to you and I thank you for your time.I hope you will take my advice before it does collapse.

MR. SUPINSKI
Unfortunately, it does not look good.

CALLER
Have a good day and thanks for your time.

MR. SUPINSKI
Thanks for calling.

From Dan Benham d.benham@worldnet.att.net
http://www.apfn.org/apfn/money2.htm

Posted in Patriotic Dissent & Redress, US Bankruptcy, Fiat Currency & the Fed.