Rob Kirby: ESF, Gold Suppression and Trillions of UnAccounted Dollars
Rob Kirby: ESF, Gold Suppression and Trillions of UnAccounted Dollars by Rory – The Daily Coin
The Exchange Stabilization Fund (ESF) was born in 1934 with the funds from the theft of gold from the American people. Executive Order 6102 signed by President Wilson ended physical gold ownership by Americans in 1933. At the time of the confiscation gold was valued at $20,67 per ounce, which had been the value of gold for close to 100 years. In 1934, after the gold was stolen from the American people, gold was revalued to $35 per ounce. This difference created the ESF and was originally funded with approximately $2-$3 BILLION 1934 dollars.
If we use the Federal Reserve inflation calculator we find that $1 in 1934 is equal to $18.26 in 2017. If we use this same calculation with a base amount of $2.5 BILLION for the ESF we find, with zero changes to the fund, it would currently have 45,646,487,294.47 or said in english $45.6 BILLION. This does not take into account any gains from investments, any additions from the Treasury or other sources – this is merely if the funds had sat idly in the account since it’s inception. According to Wikipedia the value of the ESF in 2009 was $105 Billion including $58.1 Billion in SDR’s.
As its mission statement, when it was created, states it is to support and perpetuate the primacy of the U.S. dollar in global markets. To bring this up to modern times there’s no doubt in my mind, that, in practice what the Exchange Stabilization Fund is used for, it’s the horsepower that is used to suppress precious metals prices.
It is the horsepower, or the catchall, that provides endless bids for U.S. government debt, which is falsely characterized as the U.S. debt markets having such resounding liquidity and depth; when in fact, it’s really not much more than cheap parlor trick. Where you’ve got a whole lot of dark money, that’s not even acknowledged to exist.
This pool of dark funds, in my belief number is the many, many many trillions (dollars) is used to back stop everything U.S. bond auctions to sopping up the liquidation of Americas traditional financiers, when they dump U.S. debt. ~Rob Kirby, The Daily Coin
Rob Kirby, Kirby Analytics, believes the ESF is used to keep, along with other situations, the precious metals price under control. This actually makes sense as we have seen these massive bids come to market where “someone” dumps $2 billion worth of gold contracts in a matter of minutes. The affect this has on the precious metals markets is horrifying. The good news is, this technique has just about run it’s course and today is nowhere near as effective as it was just a few years back. The market players, while they still get wiped out, financially, they understand what has happened and immediately begin “buying the dip’ which forces the market to either stabilize or begin moving back to the upside.
The IMF recently announced they had underestimated the global debt problem by an estimated $13-$14 TRILLION dollars of global debt. A simple rounding error? How does one overlook $13-14 TRILLION dollars? How? By simply ignoring it until it suits your needs to drop a financial nuclear bomb. If that’s not the case then someone please explain to me how something like this $13,500,000,000,000 could be overlooked on a ledger sheet!
Please bear in mind the IMF is the unelected group of monetary criminals that supposedly have the entire global economy under control and know what is best for all the nations and all the people. Now we find out that $13-14 TRILLION of debt was overlooked! But, they’re sorry for the mistake and promise to have it all cleaned up and like new in no time. Sickening.
This is a great show and Rob does a fantastic job of explaining the ESF as we move the conversation through Mnuchin’s recent announcement of the gold in Ft. Knox being “safe”, Jeffrey Christian saying gold price suppression is a farce and several other lose ends that all come together very nicely. Well worth a good listen.