RE: Forgotten History #2 - Gold Confiscation and the Creation of the ESF - 1934 by goldkey

Viewing a response to: @wakeupsheeps/forgotten-history-2-gold-confiscation-and-the-creation-of-the-esf-1934

finance · @goldkey · Jul 24 '17

This is new to me...ESF.  I will have to read more on this subject.  Thanks.  
Question:  Where is Bigger Influence:  Treasury vs. Federal Reserve ?

I did not know there was an actual 'organization' link between Treasury and Federal Reserve.  Seemed like there should be, but the Federal Reserve is a Private Entity to my knowledge.

I'll need to learn more about Eric deCarbonnel, and Frank Vanderlip, who was one of architects of the Federal Reserve System and a staunch opponent of the creation of the ESF.  I'm not sure how someone could architect the Fed and be opposed to this ESF, was it just that he didn't want ESF influence over the Fed?
I got more to learn.  Thanks for this post.

👍 wakeupsheeps

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@wakeupsheeps · Jul 24 '17

It was more about the way the ESF was set-up that brought the complaints.  No accountability, no restraint, all that power in the hands of the Treasury Secretary.  Congress is supposed to hold the purse strings.  Not even the President can tell Treasury what to do with the money.  The videos at the end of the article will give you the detail you are looking for.

Treasury runs the Fed thru the ESF.

👍 goldkey

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@goldkey · Jul 24 '17

Thanks.

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