The following exchange between Congressman Ron Paul (R-TX) and the Fed’s attorney Scot Alvarez proves, without a shadow of a doubt, that The Federal Reserve has no gold backing the US dollar. Most in the alternative news sphere suspected it – now it’s fact. The Federal Reserve does not own any gold at all. We have not owned gold since 1934, so we have not engaged in any gold swap. … What appears on our balance sheet is gold certificates…Before 1934 the Federal Reserve did, we did own gold. We turned that over by law...
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