Board-Ansicht
Mix-Ansicht- etwas mehr Licht ins Dunkel: Stabilization/Manipulation/Frustration - Emerald, 19.07.2003, 08:03
- vielen Dank, ausgedruckt! (owT) - BillyGoatGruff, 19.07.2003, 08:18
- Quelle dieses Artikels? (owT) - fridolin, 19.07.2003, 16:46
etwas mehr Licht ins Dunkel: Stabilization/Manipulation/Frustration
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Ende gedacht:
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The Federal Reserve produces the finances for the Treasury. In fact
the Federal Reserve is obligated to do so.
The Secretary of the Treasury and the President of the United States
are in charge of what is called the Exchange Stabilization Fund (ESF).
I have given you below the Treasury regulations concerning the ESF.
At present the ESF has capitalization in excess of 30 billion USD. Like
all dealing entities can, and more than likely do, they take positions
at sizes which are multiples of their capital position.
When I ran my firms I could take positions equal to 18 times my
capital. Rules have changed but not that much. If so, the Treasury
would finance that and in turn the Federal Reserve would produce
anything required for the Treasury. Therefore, the Fed finances the
Treasury. That is the order of financial march. So you can see that the
EFS is a powerhouse trading body operating in the market place.
You will also note that the regulations permit the ESF to deal in US
securities and gold. There is no clarifying regulation that narrows the
legal definition of the word security or gold so it is reasonable to
assume that the ESF can - and if directed to by either President Bush
or Secretary Snow -deal in US securities and/or derivatives
representing them. It would follow from the reading of these
regulations that the ESF also could, if directed, deal in gold or
derivatives based on gold.
"noch Fragen? Alles klar!"
Emerald.
As is evident in the regulations that empower the ESF, you will
discover that the ESF has a reporting requirement to the Committee on
Banking, Finance and Urban Affairs of the House of Representatives and
the Committee on Banking, Housing, and Urban Affairs of the Senate. A
detailed financial statement on the
stabilization fund showing all agreements made or renewed, all
transactions occurring during the month, and all projected liabilities
is required.
However, when these committees were contacted requesting a copy of
these reports, we were told that the committees have determined not to
distribute this information to the public.
So please understand that the dealing entity in currency, gold and
securities is not the Federal Reserve but rather the totally secret arm
of the US government, the ESF.
You will note in the regulations that no government person has the
right to review the decisions of the Secretary of the Treasury or
President concerning positions taken or loans made to governments in
accord with these regulations.
You need not take my word for it. These regulations tell you that there
is an extremely rich government entity fully empowered to trade in the
items listed. I am an old and experienced professional trader of 44
years in all these items. I know exactly what a transaction looks like
that is manipulative - in terms of the difference between a trade to
buy or sell significant amounts of anything - from an attempt to simply
establish price to benefit some private agenda.
When I tell you a market is being jobbed, you can believe it is being
jobbed. If you like what is happening you call it"STABILIZATION." If
you do not like what is happening it is"MANIPULATION." In reality, a
market being jobbed is simply a market being jobbed.
Please see the treasury regulations below:
TITLE 31--MONEY AND FINANCE
SUBTITLE IV--MONEY
CHAPTER 53--MONETARY TRANSACTIONS
SUBCHAPTER I--CREDIT AND MONETARY EXPANSION
Sec. 5302. Stabilizing exchange rates and arrangements.
(a)(1) The Department of the Treasury has a Stabilization Fund. The
fund is available to carry out this section, section 18 of the Bretton
Woods Agreement Act (22 U.S.C. 286e-3), and section 3 of the Special
Drawing Rights Act (22 U.S.C. 286o), and for investing in obligations of
the United States Government those amounts in the fund the Secretary of
the Treasury, with the approval of the President, decides are not
required at the time to carry out this section. Proceeds of sales and
investments, earnings, and interest shall be paid into the fund and are
available to carry out this section. However, the fund is not available
to pay administrative expenses.
(2) Subject to approval by the President, the fund is under the
exclusive control of the Secretary, and may not be used in a way that
direct control and custody pass from the President and the Secretary.
Decisions of the Secretary are final and may not be reviewed by another
officer or employee of the Government.
(b) Consistent with the obligations of the Government in the
International Monetary Fund on orderly exchange arrangements and a
stable system of exchange rates, the Secretary or an agency designated
by the Secretary, with the approval of the President, may deal in gold,
foreign exchange, and other instruments of credit and securities the
Secretary considers necessary. However, a loan or credit to a foreign
entity or government of a foreign country may be made for more than 6
months in any 12-month period only if the President gives Congress a
written statement that unique or emergency circumstances require the
loan or credit be for more than 6 months.
(c)(1) By the 30th day after the end of each month, the Secretary shall
give the Committee on Banking, Finance and Urban Affairs of the House
of Representatives and the Committee on Banking, Housing, and Urban
Affairs of the Senate a detailed financial statement on the
stabilization fund showing all agreements made or renewed, all
transactions occurring during the month, and all projected liabilities.
(2) The Secretary shall report each year to the President and Congress
on the operation of the fund.
(d) A repayment of any part of the first subscription payment of the
Government to the International Monetary Fund, previously paid from the
stabilization fund, shall be deposited in the Treasury as a
miscellaneous receipt.
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