Terry Sacka Speaks On The Central Bank of Central Banks And U.S. Dollar's Future As A Reserve Currency
Terry Sacka appeared on the Wealth Transfer show to discuss the controversial topic of the Central Banking System and the future of the U.S. Dollar.
June 10, 2014 (Newswire.com) - Terry Sacka, AAMS is an Accredited Asset Management Specialist and Chief Strategist at Cornerstone Asset Metals who specializes in helping investors diversify a portion of their portfolio into hard assets such as gold, silver, platinum, and palladium with advanced investment strategies designed to maximize returns through the purchase of physical precious metals.
He is a regular guest on The Wealth Transfer show, a weekly program airing Thursdays at 10pm EST on the Christian Television Network (CTN) with host Dr. Charles Vance discussing Global Economics, Biblical & Financial Principles, and the Protection & Preservation of Wealth & Hard Assets.
In a recent episode he discussed the often misunderstood and mystified topic of the Central Banking System, most specifically in which Terry refers to is the, "..Bank of International Settlements what that really means is that's the Central Bank of Central Banks."
An exact definition of one (according to Investopedia) would be "..an entity responsible for overseeing the monetary system for a nation (or group of nations) with responsibility for overseeing monetary policy to implement specific goals such as currency stability, low inflation and full employment." Central banks also generally issue currency, function as the bank of the government, regulate the credit system, oversee commercial banks, manage exchange reserves and act as a lender of last resort.
As further explained, "In the U.S. it is also known as "the Fed" or Federal Reserve System which is composed of 12 regional Federal Reserve Banks located in major cities throughout the country. Its main task is to supervise and regulate banks, implement monetary policy by buying and selling U.S. Treasury bonds and steer interest rates. Ben Bernanke currently serves as the chairman of the Board of Governors of the Federal Reserve."
Mr. Vance and Mr. Sacka outlined how our Federal Reserve is not operated by our U.S. government. Terry went on further to explain, "Actually the Central Banks, especially our Federal Reserve, is a private institution. Now, yes they say Congress have oversight and control but one, let's just say very large family once said "I dont' care who makes the laws, just allow me to control the money (paraphrased)."" He explained this is why everything hangs in the balance on the word and announcements of the Fed.
In an episode following he discussed the topic of the U.S. Dollar and it's future as a reserve currency as fiat paper relates to precious metals such as gold and silver. He pointed out that it all started with crude oil, which must be bought in an American dollar, and foresees that one day this will come to an end. The dollar will be challenged quickly with China leading that front.
Entire episodes can be viewed on his website in The Wealth Transfer Archive.