The privately owned Federal Reserve sets interest rates and money supply through the purchase or sale of billions of dollars of Treasury Securities giving it the power to inflate or deflate the currency and interest rates. The New York Times of August 24, 1989, p. 1, describes the power that the Fed has over the economy, *The Federal Reserve, in its influence and independence, is extraordinary by Washington standards, comparable in autonomy to the Supreme Court. Guided by a handful of appointed experts, it can create or destroy fortunes with its power to move interest rates. And its decisions, like those of the Court, are not subject to appeal.* While the short term price of gold has been traditionally set by an *exclusive club* of five London bullion houses including NM Rothschild; Mocatta & Goldsmith; Sharps, Pixley; Samuel Montagu; and Mase Westpac Ltd.(Wall Street Journal, July 6, 1987, p.5)...the long term price of gold is influenced by the policies of the Federal Reserve and other central banks and the rate of inflation or deflation.
Although the Federal Reserve is privately owned...it has never been audited...but a number of groups have published a list of eight groups which own this central bank. The Wall Street Journal of July 16, 1987, p. 18...quoting a *radical anti-Fed group* known as the *Western Front*...And lists four of those eight as...the Rothschilds of London and Berlin, Lazares(sic) Brothers of Paris, Israel Moses Seaf of Italy, and Kuhn Loeb & Co. of Germany and New York...