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Taking Down The FED With RICO
Taking Down The FED With RICO
By Dan F.
The Federal Reserve Bank has been rightly condemned for transferring wealth from those who work to those who quite literally have a license tp print our money. The FED has been blamed for the Great Depression of 1929-1939 and for our current economic crisis. But those actions though despicable are not actionable under the Racketeer Influenced and Corrupt Organizations Act (RICO) which was part of the Organized Crime Control Act of 1970.
RICO allows American citizens to sue any person or persons who are members of corrupt organizations that have committed one or more of 27 federal crimes or 8 state crimes. It allows citizens to collect triple damages. The standard of proof is easier than in a criminal case where the prosecutor must prove beyond a reasonable doubt that a specific crime was committed by a defendant. In a RICO lawsuit against the Federal Reserve all we are required to do is to show a pattern of corrupt behavior. And that we can easily do.
The Federal Reserve Bank of New York is the official depository of the United States government. There is ample evidence that both political parties have allowed trillions of dollars to be spent contrary to federal law without adequate auditing controls. In his now famous interview on 9-10-2001 Donald Rumsfeld admitted that the Department of Defense (DOD) could not trace 2.3 trillion dollars in spending. To date some 25% of the DOD budget cannot be traced so we do not know where our tax money went. But we do know that the money went through the New York FED before it went missing.
Vanity Fair published a now famous article on the 12 billion dollars in cash sent to Iraq from the Federal Reserve over a 15 month period. 9 of the 12 billion dollars went missing. The Vanity Fair article said. “the company that was hired to keep tabs on the outflow of money existed mainly on paper. Based in a private home in San Diego, it was a shell corporation with no certified public accountants. Its address of record is a post-office box in the Bahamas, where it is legally incorporated. That post-office box has been associated with shadowy offshore activities.”
The DOD is not the only federal agency where our money has been stolen. Susan Gaffney, the Inspector General at Housing and Urban Development (HUD) refused to even sign off on the 1999 HUD audit. She said 242 adjustments totaling 59.6 billion dollars to account for money missing from her agency during fiscal year 1999. Susan Gaffney that just about anyone can get into HUD's financial system, change numbers, take money and engage in financial fraud without anyone stopping them.
The 59.6 billion dollars that went missing in 1999 was not an isolated event at HUD. Ms Gaffney also reported that 17.6 billion dollars went missing from the 1998 HUD books. Catherine Austin Fitts was the Deputy Secretary at HUD under the first President Bush and has been battling corruption ever since. She once said on a radio interview that she found one single block in San Diego that 10 HUD backed loans totaling 20 million dollars on buildings that never existed. In fact Ms. Fitts said none of the ten buildings even had postal addresses.
Catherine Austin Fitts has found massive corruption in other departments. She used a computer program called Community Wizard which allows the user to enter a zip code and to determine federal spending for their local area. She once had a friend named Louis from a small town in New York who input the zip code and the necessary information to discover what the federal government was spending in his hometown. The man grew visibly angry when he saw that amongst other irresponsible acts they had spent $4,000,000 on flood relief. Louis said that his town was on a hill had not had a flood in the previous 120 years.
Since 1995 federal law has required the Treasury Secretary to only spend money that has been subject to proper auditing controls. Catherine has said the following: "Total undocumented accounting adjustments for reported periods for the Department of Defense [and HUD for fiscal 1998-2000] amount to a whopping $3.3 trillion, or $11,700 for every American. The Department of Defense has failed to produce independent audited financial statements since the requirement went into effect in 1995. HUD's Inspector General refused to certify HUD's fiscal 1999 financial statements." She has since revised that figure for total undocumented spending to 5.3 trillion dollars according to a recent radio interview.
Under RICO we can sue the Federal Reserve for its failure to protect taxpayers from the ongoing and persistent corruption at the Treasury Department, at the Department of Defense, HUD and numerous agencies which has plagued us under both Republican and Democratic administrations with the aid and knowledge of their political partners in Congress and the Senate under the “watchful eye” of the bought and paid for media.
In case you are worried we cannot sue the Federal Reserve under RICO we can. The 9th Circuit Court of Appeals ruled that the Federal Reserve Bank is not a government agency. This ruling was made in an auto injury case. The Federal Reserve is a privately held corporation where the stock is held by member banks. Besides RICO has been used against government agencies that were run as corrupt organizations. The most notable anti-government RICO case was against the Key West Police Department.
There is another fiduciary responsibility that the Federal Reserve has violated. They have made 2 trillion dollars in loans to their member bank stockholders on assets of little or no value. Financial news services and several print columnists have asked for the official depository of the United States government to tell us just exactly who has received those loans and what collateral they offered. We could argue in court that we need to make discovery and to audit these transactions for fraud. Taxpayers have standing in this aspect of the case because the Federal Reserve routinely donates excess profits to the United States Treasury. By loaning money to their share holders on assets of no value they are depriving taxpayers of alternative means of the federal government to finance its operations.
We are entitled to triple damages under RICO but the real purpose of the lawsuit would be to stop the Federal Reserve from destroying America by sending the United States and the rest of the world into a Depression which many experts believe will be far worse than that of 1929-1939.
It would be far too dangerous for any one man or woman to bring this lawsuit against the Federal Reserve. After all they have been stealing billions of dollars every week for decades so they might be able to fire more than one assassin. However, as one commentator said . “Do not fear when we do battle against the Powers That Be. Remember that we be many and they be few.”
I would recommend that we join tens of thousands of American citizens together to bring this lawsuit. We need the support of all those men and women to see this trial to the end. The general public has been upset to say the least about the coming economic collapse. If we use the Internet and talk radio while they are still relatively free and unregulated, we might even break through into the mainstream media.
The Federal Reserve has no defense. The Treasury Department, HUD, DOD and the rest of the federal government cannot defend their actions. They have acted together to defraud the taxpayers of hundreds of billions of dollars. It is time we say no to the sacking and looting of our country.
This could very well be our last chance to say no to anything Wall Street wants to do to us. How many impoverished but free nations can you name?
I strongly recommend the website below for those of you have decided to take direct action to abolish the Federal Reserve:
To read more about missing money please go to Catherine Austin Fitts' collection of articles here:
The following video and three articles are ones I cited and are from the above collection.
This video is about the missing trillions from the DOD
This is that Vanity Fair article:
This article is about the woes and tribulations at HUD:
This article is about the unaudited budgets illegally submitted by the Secretary of the Treasury:
To learn more about the Federal Reserve Bank please go here:
Or you might prefer this site which helped Congressman Dennis Kucinich with his plan to abolish the Federal Reserve: