“Pecunia non olet” (money does not stink) ~ ascribed to emperor Vespasian describing the Roman urine tax
For subscribers who want a deeper understanding of “how the money works” in Washington, it is very helpful to understand the names, roles and powers of the various organizations that manage US currency, federal debt and credit and the federal budget. This financial infrastructure is an important component of what is sometimes referred to as the “deep state.”
Board of Governors of the Federal Reserve System
- The Federal Reserve Bank of NY – Depository for the US government and manager of the Exchange Stabilization Fund
- Selected Agents (Member Banks) for the NY Fed
The US Department of the Treasury
- The National Debt
- The US National Debt Clock, US Debt Clock
- The Exchange Stabilization Fund (ESF)
- Internal Revenue Service (IRS)
- Primary Dealer & Current List of Primary Dealers
The White House Office of Management and Budget:
- Current and Future Budgets Here
The Financial Coup d’ Etat & Missing Money
“All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with amendments as on other Bills.”
— U.S. Constitution, Article I, section 7, clause 1
“No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.”
— U.S. Constitution, Article I, section 9, clause 7
- Senate Rules and Administration Committee
- Senate Budget Committee
- Senate Appropriations Committee
- House Rules Committee
- House Budget Committee
- House Appropriation Committee
The Mortgage Finance Agencies:
- US Department of Housing & Urban Development (HUD)
- Federal Housing Administration (FHA)
- Government National Mortgage Association (Ginnie Mae)
- Federal National Mortgage Association (Fannie Mae)
- Federal Home Loan Mortgage Corporation (Freddie Mac)
- Federal Home Loan Bank Board
- Federal Housing Finance Board (FHFB)
- Office of Thrift Supervision
- Farmers Home Administration
- Veterans Affairs (VA)
Bank & Pension Agencies
- Federal Deposit Insurance Corporation
- Pension Benefit Guaranty Corporation
- National Credit Union Administration
The US Securities and Exchange Commission
International Agencies
- Bank of International Settlements
- Group of Seven (G7)
- International Monetary Fund
- World Bank
- Export-Import Bank of the United States
- World Trade Organization
- Group of Twenty (G20)
- International Financial Institutions
Clearance & Trade Agreements
- General Trade Agreement on Tariffs and Trade (GATT)
- North American Free Trade Agreement (NAFTA)
- Society for Worldwide Interbank Financial Telecommunication (SWIFT)
- International Financial Institutions
In addition, US intelligence agencies manage significant covert funds and what is sometimes referred to as “the hidden system of finance.” For a complete listing of US intelligence agencies, click here.