The Federal Reserve System: The Secrets You Don’t Know About!


In 1935, Cret designed the Seal of the Board o...
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By P Chong                                            Tues. 19 Oct. 2010

Hey! You might think this to be a very dull & boring subject. They say that what you don’t know won’t kill you, but I’m afraid the reverse is true in this little known subject. The fact is that only a very minority know that the Federal Reserve System is not federal, it has no reserve, and it’s not even a bank. It’s really fascinating how intricate and involved it is and how crucial the Federal Reserve and the creation of money is to the people who run not only this country, but the world.

It’s a mystery story of what the Big Seven financial families, as mentioned in my previous post (Who Really Own The Federal Reserve? Mon. 4 Oct.2010) have done with our monetary system. Griffin for self edification has largely promoted this through his writings, speeches & television documentaries, which can be found on YouTube. Of late, he’s been going around warning: “Gee everybody, don’t you see what’s going on? Don’t you care about the future? Let’s do something about it.” His conclusion & rationalisation will tell you that “it really doesn’t make any difference what we know about these problems if we don’t do anything about it.”

The crux of the matter is that truth will not set us free unless we do something positively about it. As I often say, to grow to progress is to change. All must stretch forth & strike where it counts. In today’s society with modern mass communication, speedy, effective & far reaching, action does not necessarily rest with physical muscles, guns or weapons.

Whatever the misgivings, public opinion must be held in the right perspective, then change can evolve through people’s power. To achieve success, all you need do is to convince people to your cause for struggle as dying for the cause of your country.

The biggest hurdle towards change in America is that the power of control rests with the Mighty Seven. They control the population through all the major mass media, organisations & power centres. From out of the blue, have you ever wondered “How did this guy get to be President?” Don’t be surprised that a lot of happenings are pre-planned decades ahead of time. Happenings don’t just happened!

Time & space do not allow me to dwell at length on the “how to change” or to deliver fully about the Federal Reserve System, that it’s not federal, there is no reserve and it’s not even a bank. Much has been written by G. Edward Griffin as mentioned in his books in the Related reading list below. I hope I have aroused your curiosity & interest to want to read further on this subject.

I bet you’ll say “Wow! Wow!” when you hear this staggering statistic – these Mighty Seven Families which form 1 per cent of the world’s population but own 60 per cent of the world’s wealth!

Please read also on my previous post “Who Really Own The Federal Reserve System”.

Related Reading:

  1. The New World Order Exposed by G. Edward Griffin
  2. The Creature From Jekyll Island By G. Edward Griffin


Flag of Australia
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A United Society Transmitting Righteousness And Love In Abundance

Australia, the country of our choice

We hold you in great joy

May you ever be

A country for the free.

Australia, a united society

We stand in complete unity

May we not divide

Despite our differences wide.

Australia, transmitting righteousness

We hail you in fearlessness

May you always be fair

To everyone in your care.

Australia, a land of abundance

We greet you with substance

To make this a greater land

We must all render our hands.

Australia, a land of love and cheer

We shall always hold you dear

Let’s make this a better place to be

Towards this end will be our destiny.

Paul Chong

A Chinese by Descent

An Australian by Consent

Originally First Penned On Monday, 21 July 1991

A Tribute to Mahanum bt Itam

By Paul Chong                                              Thursday, 9 September 2010

From a senior civil servant in Malaysia to the status of “Mother Teresa”.

Ms. Mahanum Binti Itam 63, retired Director General, National Housing Department, Malaysia, has had a full & active life serving the Civil Service in various capacities including Defense Ministry, Health Ministry, University Hospital, Ministry of International Trade and Industry and Ministry of Rural Development.

She has seen the world & through dealings internationally, has acquired relevant knowledge, skills, experiences and aspiration that assist in her executing challenging tasks while in service.

For one who has aspired & retired as a top civil servant in Malaysia, one would be expected to lead a life of ease & pleasure for the rest of one’s natural life.

Not in a million years for this unassuming dedicated character Mahanum, who happened to be a former student of mine from the prestigious Anderson School, Ipoh, Malaysia. She was here in Perth visiting some relatives of hers from September 2 -12, 2010.

It was a rare occasion for teacher & students to be meeting up again especially after a lapse of two score & three years. I feel both proud & honoured to have this privilege to have been her Form Master in the Class of 1966/67 Sixth Form Arts.

As a teacher, you often wonder whatever happened to this or that student – often you never know. Straight after their graduation, each person went his or her own way in their life pursuits, never really ever to meet again.

It’s always gratifying to hear of your students’ successes, and to know that they still remember you.

Before her retirement, she wondered why she was wearing expensive clothings & having an expensive lifestyle when there are so many poor kids around. Prompted by this realisation, she sold off all her collection of expensive stuff And landed assets and built in 2000 an orphanage on her parents’ land somewhere off Teluk Intan in Perak.

She’s like Malaysia’s own “Mother Teresa” – even more so, if I may say so, to be running it all by herself only supported by her cousin Janariah bt. Md. Shah who takes care of the tremendous amount of washing. Mahanum’s day begins at 5 am and the comfort of the repose comes round only by 10.00 pm. at night. She has at the moment 50 kids – all mostly from problem families.

She is single, never got married, still quiet & reserved – and fully dedicated to her ideal of helping poor kids. Friends may find her sometimes to be aloof . . . but she has a heart of purest gold. I dare say few men can match with her high ideals nor dare to venture like she does. She’s a real quiet selfless achiever.

Malaysia could do with more people like her calibre with a true dedication to serve the community. She step out of her comfort zone to personally and sacrificially pursue her worthy ideal. She does personify the alma mater‘s motto: “To Strive, to Seek, to Find & not to Yield”. She does what she does best in her own quiet unspoken way.

As an outsider now, looking in from “Down Under”, I am often both appalled & distressed by the economic havoc & deterioration of my fond Golden Chersonese. Sadly, the once beautiful country, which could have been great, is in the grip of “thieves & cheats” at the helm . . . “pariahs & mafias” of the highest order from the so-called UMNOputras. This is positively my own perspective and does not in anyway reflect on the thoughts & standing of Mahanum.

With a “kris” in hand . . .

the ruling BN is ruining the land.

Its political policy is CCN – Corruption, Cronyism & Nepotism. (please don’t confuse it with CNN – the famed media channel).

May the good Lord bless Mahanum

And may God save Malaysia!

The future belongs to those who believe in the beauty of their dreams.” ~Eleanor Roosevelt

Sekolah Tahfiz/Rumah Anak Yatim Al Amin

Kg Pengkalan Ara

36600 Chenderong Balai

Teluk Intan


Selamat “Hari Raya”

Best Political System in Practice With the Best Talent There Is

By P Chong                               26 April 2010

A government of the people, by the people & for the people.”

Clearly in this light, tiny Singapore City State & giant Peoples’ Republic of China stand supreme.

US is no longer “a government of the people, by the people, & for the people”, but a government of ‘Wall Street, by Wall Street, & for Wall Street.’ What does it mean when Wall Street is contributing $500 million to both the Democrats & the Republicans for their political campaign? People in the Main Street are deprived, cheated & in more ways than one given a very bad deal . . . homeless, high unemployment, burdened with a national debt beyond their wildest dream, while the culprits & perpetrators are being baled out & rescued. Imagine the big crooks or “Financial Mafias” escaping the full justice of the law & the average & poor public reeling with pain & suffering!

If ever any justice is to come to pass, it will be anything but a show trial or theatrical act!

It’s the quality of leadership together with the system of government that will determine the health of a nation.

The best political system there is must be evidenced & seen to be in practice. You don’t have to dominate or elect for “a change in regime” in order to impose a good government system. If it is any good, it will be copied generally by all globally. Leadership is by example & no involvement of a bargain or gamble. Goodness is clearly seen in practice devoid of all hidden agenda or any real motive.

If a system is good & operable, it’s bound to be duplicated & copied by many without any unwarranted imposition, threats of war & domination. The worst crime ever committed by any nation is the invasion & intrusion upon the sovereignty of other nations, with the resultant cruel & unnecessary deaths of women & children plus the millions of displaced refugees.

The time-tested system of leadership selection, qualitatively & quantitatively, as practised by ancient China to the present, is through examination grading or academic attainment & performance, to be followed by a period of internship & training. Singapore adopts, adapts & adjusts to the method very well indeed . . . the proof is in the pudding, so to say. I must say it’s a rather laborious way of candidate sourcing for election, filling & fitting the various political portfolios.

Singaporean politicians are well paid, from a lowly ranked minister starting with a salary of $1.5 million (Singapore dollars) to the Prime Minster with $3.8 million, with the President commanding $3.9 million. These salaries may seem excessive, but they ensure a totally “clean & transparent” government unlikely to be tempted with greed, graft or corruption. Singapore has always been known for its squeaky clean image.


Americans are faced with heaps of problems – self-arising from within not instigated from without (as what the US government is adept in doing with other nations in the world).

The biggest democratic system of governance is India with a population second only to China. There in India, the corporations are controlled by elite bankers, pretending to be a government of the people, by the people & for the people. Parties like Congress & BJP have changed this definition to be “a government of the relatives, by the relatives & for the relatives”.

In US, the talk of freedom in the democratic world is misleading – more like big fish eating small fish. The Free Enterprise System is really the big oil companies & corporations. Where do small enterprises stand?


Western democratic system is a money power game with greed, corruption, cronyism & nepotism overtones attached. It’s a system fraud with conspiracy & a network of wheeling & dealing. It’s the survival of the fittest.


It’s all very well to see great performances by politicians on television, repertoire of oration, great campaign speeches & promises, but when it comes to implementation & delivery, nothing or little happens. Vested interest groups got to be strong to exert enough pressure to get their demands.


When the late Deng Xiaoping visited Singapore & was awed by the achievement of the little city state under the capable leadership of Lee Kuan Yew, he was assured that China would do far more better. Lee Kuan Yew, while flattered by the admiration, told Deng Xiaoping that Singaporeans are after all descendants of peasants & workers from China, but what China possesses is the great reservoir of true talents & scholars from the upper society elite who never had to leave the motherland in search of economic survival & wealth. Given the right motivation & opportunities, the whole nation of 1.3 billion could be mobilised to attain far greater success than Singapore within the shortest time frame possible.

Yes, indeed . . . how prophetically true!

Never in the recorded history of mankind has any nation come close to be of any compare with China! It’s amazing to witness its phenomenal leaping success. China’s leadership & government can truly & deservedly claim the accolade of success.

A nation must sail under good captainship with the crew working in unison not opposition. Everybody got to pull together to brave the storm & then only get to savour its triumph.


With a scenario as below . . . what would you expect?

  • Wall Street dominating & cheating the Main Street
  • Democrats fighting the Republicans in Congress
  • No less the infighting in the Senate
  • A lame President who attempts to look good on the outside
  • Greed hovering above the political-economic-socio problematic scene
  • Vested interest groups pressuring & carving out their own goods
  • 80% of the general public not trusting Washington
  • Sinking ship braving not the storm but remaining sinking beneath the dilemma of economic ills
  • Divergent forces & influences ripping the nation apart
  • A carton portrayal: “The Bush disaster is over! The Obama catastrophe begins!” in full display by the general public
  • Unconcerned Secret Elite or Illuminati, the real power behind the throne, only laughing to the bank, which they own anyway!

How do you hope to dominate, propagate or even duplicate

when the democratic system is ripped with rot right to the core?

You can only stay strong together but weak apart.

Nations should work together in the spirit of co-operation not domination!

Chaos reigns when order feigns!

And catastrophe sets its claim!!

There’s every danger of the US destroying itself from within like the Fall of Rome.

“What does it mean” asked Stacy Herbert from Keiser Report on RT-TV, “to be a Banana Republic without the Banana?”


Comments by:

Mike Chong: “Many will nod their heads to this . . . the so called land for the free is land of the greedy, selfish and “live at others expense” Government/public.”

Richard Chiang: Yes, very well said! Yet, the Americans, etc, try to impose their system on other countries.  Unfortunately, many of the people in these countries are misled into believing the so called Western democracy is the only system.  Also, in the name of the so called human rights, they try to impose their will on other countries while their indiscriminate bombings of unarmed people, including women and children, have often been ignored!”



Contrasting Abraham Lincoln & Nancy Pelosi

Congresswoman Nancy Pelosi at San Francisco's ...
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By P Chong                  Sun. 4 April 2010

Americans have had great presidents in the past. Abraham Lincoln was one such president. Herein below are some of his great wisdom:

How true in what he said. He had the absolute ability of saying a lot with the least number of words. Abraham could “paint with words”. World leaders should emulate him and implement his wisdom . . . then the present world would not be this topsy-turvy.

People at the helm of government must be smart and act the part. The destiny of a nation depends entirely upon the calibre of leaders.

Consider this true incident of a supposedly great lady politician:

Nancy Pelosi – A “Brain Lift” Rather Than A “Face Lift”

A noted psychiatrist was a guest speaker at an academic function where Nancy Pelosi, the Speaker of Congress, happened to appear. Ms Pelosi took the opportunity to schmooze the good doctor a bit and asked him a question with which he was most at ease.

Would you mind telling me, Doctor,” she asked, “how you detect a mental deficiency in somebody who appears completely normal?”

Nothing is easier,” he replied. “You ask a simple question which anyone should answer with no trouble. If the person hesitates, that puts you on the track.”

What sort of question?” asked Pelosi.

Well, you might ask, ‘Captain Cook made three trips around the world and died during one of them. Which one?”

Pelosi thought a moment, and then said with a nervous laugh, “You wouldn’t happen to have another example would you? I must confess I don’t know much about history.”

Can you imagine that? With people like that, what can you you expect of the country? Surely not as dumb as a box of rocks!

US Greenback Is Doomed!

By Paul Chong         Sunday 6 December 2009

(A composite report from reliable sources)

“Capitalism creates a rational frame of mind which, having destroyed the moral authority of so many other institutions, in the end turns against its own.” – Joseph A. Schumpet

Japanese toymaker Bandai has released paper-thin bath soap that looks like the American 100-dollar bill.(Xinhua/AFP Photo)

Environmental experts recently called toilet paper

“one of the greatest excesses of our age.”

Once the pride & might

Its collapse is now in sight!

This is not just theory. It’s the real thing! Let’s hear from the experts:

US billionaire & investment guru, Jim Rogers, influential former partner of financier George Soros (The World Today Dec 3, 2009) is advising investors to desert the greenback and put their money into commodities. He says the US dollar is a flawed currency that has no future.

Nobel Prize winner Dr. Paul Samuelson, hardly an alarmist, has characterised U.S. financial imbalances as so severe and “irreversible that we must accept that at some future date there will be a run on the dollar. Probably the kind of disorderly run that precipitates a global financial crisis.” . . . while other monetary experts now warn, “We’re in the terminal stages of the world’s most gigantic pyramid scheme.”

Or as Dr. Ron Paul, a member of the U.S. House of Representatives, recently noted about the rampant, unprecedented money creation going on, “If we continue doing what we are doing right now, we will literally destroy the dollar.”

The first dramatic debt growth spurt of US debt-based approach financing system occurred with the Civil War. The debt was just $65 million in 1860, but passed $1 billion in 1863 and had reached $2.7 billion following the war, slowly fluctuating for the rest of the century, finally growing steadily in the 1910s and early 1920s to roughly $22 billion as the country paid for involvement in one war after another – wars which they never did win.

When compared to hard money backed by gold or silver, this debt-based approach has the advantage of making the currency elastic, giving the government a means of expanding or contracting the money supply in response to changing economic conditions. The disadvantage of this approach is inflation. The money supply must be continually expanded in order to finance interest payments on the debt by which it is issued. This devalues the currency, causing inflation.

All signs point toward the U.S. dollar – already down one-third against other world currencies since 2002 – heading at breakneck speed for a precipitous and historic crash.

While all global currencies are falling against tangible

assets, the US Dollar is falling faster.

Unmistakable warning signs reveal here point to a monetary crisis on the verge of spinning wildly out of control, leading to massive INFLATION and quite possibly, a sudden and catastrophic dollar collapse that will forever change US nation.

Mr. Obama, in a recent cable news interview during which he tried to rationalize his multi-trillion dollar spending spree, conceded with a chuckle,“we are out of money now. We’re operating in deep deficits…” This admission came only a few months into his term, and even before he committed upwards of $50 billion more in U.S. taxpayer funds to bailing General Motors out of the hole!

Major foreign investors such as China are quickly catching on to the hard reality of US insolvency. Inescapably, they’re concluding that the “only way Washington can keep its Ponzi finance going is by running the monetary printing presses non-stop.”

Mega-investor Warren Buffett recently admitted publicly that the frantic spending and money creation underway right now will trigger a currency-destroying inflation that will be much more severe than in the 1970s.

Big-time investment gurus such as Jim Rogers dispatched a strongly worded email offering this sobering assessment:

“The world at large does seem to understand innately that governments are bankrupting themselves and destroying paper currency.”

The sheer havoc unleashed by a dollar crisis will be nationally jolting on a par with Pearl Harbour, John F. Kennedy’s assassination and 9/11. And yes, the bottom could drop out in just a single harrowing day.

The coming dollar collapse will wreak economic and social havoc far beyond skyrocketing prices. Widespread fuel and food shortages, relentless crime waves and the government’s endless socialistic machinations will devastate the American way of life like a giant tornado.

US – Greatest Debtor Nati

With US main creditors & all the global supporters pulling out,

there will be a catastrophic tsunami unimaginable.

Just this week, US Fed Chief Ben Bernanke declared the US economy is facing “formidable headwinds” & effectively vowed to continue its relentless printing paper dollars.

China’s Andy Xie, recently named by BusinessWeek as one of China’s most influential economists, quickly reacted with the accusation that Bernanke was “poisoning” the US economy by keeping interest rates near zero & creating a tidal wave of newly printed paper dollars. He warned that the next global crisis will be driven by asset inflation . . . which is exactly the present scenario.

Incidentally, toilet roll goes off very quickly towards its end!

Being at the top is not good, there is only one
way to go from there – down.

Malaysia Merdeka!


Twin Towers of Pernas Symbolically Malaysian Pride

Malaysia has been promoted in the spirit of tourism

as “Truly Asia” . . . a melting pot of different colour & racial origin.

It’s only superficially true, for sadly beneath it all there’s much

lamentation, dissatisfaction, discrimination, polarisation, marginalization

& exploitation amongst the population.

The best kept secret is a political one in that there’s no such thing as

a Malay race, as would be defined anthropologically. Ironically, it’s

playing a ‘authoritarian’ political role over & above two of the world’s greatest

racial Chinese & Indian components.

Today 31 August Malaysia celebrates its 52nd. independence from the British colonial rule. To me, 31 August 1957 was particularly significant & auspicious, for I was there in the thick of it celebrating the first Merdeka. Being the last batch of the Queen’s Scouts from St. George’s Institution, Taiping, I was chosen to march in the Merdeka Parade in Kuala Lumpur. For a young lad this was a thrill beyond all imagination. I was, without doubt, extremely proud to be a Malaysian.

Merdeka '57Myself in Merdeka Parade (31 Aug. 1957) – Second from right (Fourth row from front)

That kind of pride was even evident when we were all training to be teachers on Malaysian government scholarship in Kirkby College, Liverpool, England. We were a closely knit community of some 300 students in a foreign land studying & living in peace & harmony. It was a beautiful blend of racial mix – “truly Asia” as the present Minister for Tourism would advertise as such.

Just when you think Malaysia was such a paradise with durian & rambutan, “cha kwei teow” & “laksa” or “mee rebus”, “nasi lemak” & chicken rice, celebrating together Hari Raya, Chinese New Year & Deepavali, there exploded the racial riot of 13 May 1969 – all because of politics. Sadly, the days ahead have never been the same – no longer gay. Ever since, even with modernisation of highways & freeways, it’s downhill all the way!

All roads lead to a deteriorating state of social, economic & political quagmire. The way things are there’s nothing to be admired. Nothing to fulfil one’s hope, dream & aspiration nor would it thrill your heart’s desire.

Without looking afar, Malaysia pales in significance by far in comparison even just across the causeway. Singapore, an island state, deemed to fail upon its separation from Malaysia & without any natural resources like Malaysia, is laughingly way ahead in all spheres of development.

Politics is a dirty game.

It only enriches the class playing the same.

The population at large hardly have much to gain.

All Malaysians without exception must realise this. They need to rise and stand up to be counted. Prosperity must be equitably spread for posterity in perpetuity.

In closing, may I urge you to read my previous post on “Tun Dr Mahathir Mohamad” to get a better & further insight that plagued the nation of Malaysia.

Paul Chong

A Chinese by Descent

An Australian by Consent

Monday, 31 August 2009