Tommy Peters' Bicycles

Exchange Stabilization Fund (Parts 1 to 4) •... by 1tommypeters1 Exchange Stabilization Fund (Part 5) • Eric... by 1tommypeters1 Bullet points summarized by The Daily Bell • The Exchange Stabilization Fund (ESF) was created (without oversight) by Congress in the 1930s to ensure support of the Dollar. It has done a lousy job of what it was supposed to do, as the Dollar has lost almost all its value. • The ESF was put in the hands of the head of the US Treasury and the US Treasurer has absolute power to do what he wants with the fund. • As a result, the ESF has acted as a giant slush fund that has funded the growth of the American Empire over the past century against the will of both Congress and many bankers in private industry. • The ESF effectively runs the US Federal Reserve and tells the Federal Reserve Bank of New York (Fed) what to do. It does this because it is responsible for stabilizing the dollar and implementing policies that are in the national inte