There is no Gold Backing the Fed’s Gold Certificates.

#money #debt #currency #dollar Keep your possessions safe with The Dirtyman Safe - Use the maneco10 promo code to get a 10% discount: Teespring Store: Where to Buy Precious Metals: In North America: Miles Franklin Precious Metals Investments: send an email to info@ and mention Mario or maneco64 or call on 1-800-822-8080 ITM Trading: Are you looking for ways to protect your wealth during these uncertain times? Learn how to develop a customized strategy to safeguard your assets with ITM Trading’s expert Gold and silver analysts team. Learn more ➡️ or call 866-989-4368. US mailing address required. In the U.K. but will ship worldwide: Use promo code maneco64krug to get a 1% discount on 1 troy ounce gold Krugerrands at Use promo code maneco64tenth to get a 1% discount on 1/10 ounce gold Britannia coins For all other products use promo code maneco64 separately for a 0.5% discount In the U.K. and U.S. GlintPay App, Save and Spend in Gold - Use referral code marioGlint79 SUPPORT the Channel: PayPal: Patreon: maneco64 blog: DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions. AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning at no cost to you I earn a commission if you click through and make a purchase. However, I only recommend products or services that I believe in. Today I spoke with Clive Thompson about the Gold Reserve Act of 1934 and how through that act the United States took control of all the gold bullion and coins belonging to the Federal Reserve System. The gold certificates issued to the fed by the treasury are redeemable in lawful money and not gold according to the law so the Federal Reserve’s balance sheet has no gold backing. What this means is that the Fed lost its status as an independent agency in 1934 and the Act of 1934 allows the United States to force the Fed to buy Treasury debt.