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.
View the entire article here :- http://tommypetersbicycles.blogspot.com/2011/12/exchange-stabilization-fund-explained.html
View the original article on The Daily Bell here :- http://thedailybell.com/3343/Fearfully-the-US-Treasurys-Secret-100-Year-Old-Fund-and-Its-Dark-History-Has-Been-Exposed-
Tommy Peters
