Bullet points summarized by The Daily Bellbr br • The Exchange Stabilization Fund (ESF) was created (without oversight) by Congress in the 1930s to ensure support of the Dollar. It has done a lousy job of what it was supposed to do, as the Dollar has lost almost all its value.br br • The ESF was put in the hands of the head of the US Treasury and the US Treasurer has absolute power to do what he wants with the fund.br br • As a result, the ESF has acted as a giant slush fund that has funded the growth of the American Empire over the past century against the will of both Congress and many bankers in private industry.