This movie says the Federal Reserve is a private corporation. Does anyone have any other sources to back this claim? Just wondering.
NVM, it's a quasi-governmental/quasi-private sector. At least that's what the good people over at Wikipedia wrote.
If it is "public" show me their listing on any stock exchange so I can buy a few shares and partake of getting some of my own money back?
If you can't, and you can't, then you know it's private. In actuality, it may be a "quasi" organization, because the real purpose is to allow a few bankers to control the money of an entire nation and therefor influence policy.
People need to seriously WAKE UP! and realized the scope of this crime which has been perpetrated upon We the People. If 300 million people have $300 billion sitting in bank accounts and a few billionaire bankers, or more accurately their puppets, decide to inflate the currency 10%. They just STOLE $30 billion from all those hard-working people!
Steal $300 from a bank and it's a federal crime, the FBI will hunt you down and you will get 10 years in a federal prison. Steal $30 billion from the entire country and you get a book deal, win prizes in economics and live a life of luxury and privilege.
I've told people about this face to face and their eyes glaze over about halfway through. They just can't believe THEIR own government, the good old U S of A could, or more importantly WOULD, do this to them. They are in denial, they just can't accept it.
But Thomas Jefferson warned us about this type of person and what they would try to do to us if we allowed it. The War of 1812 was partially, if not completely fought for this reason. President Andrew Jackson took a bullet in the chest, lost his office, and fought to regain his office for this reason. Our involvement in World War One is linked to this reason. World War Two is directly related to our involvement and the outcome of WWI, for this same reason. On and on it goes.
Put simply, America will not and can not get "better" as a nation as long as the power of the money is in the hands of a few selfish individuals. No nation could! They will ALWAYS act in their own interest, not in OUR interest.
You may want to hear the truth about the FED.
Here is an mp3 to listen too. A speech given by G. Edward Griffin the author of The Creature From Jekyll Island(A Second Look At The Federal Reserve).
http://www.futuresunltd.com/media/creature.mp3
it's only 11 meg and runs for about 1.5 Hrs. This will absolutely shock you to the core but also give you crystal clear understanding of the establishment and how it functions and thinks.
Truly amazing stuff.
A crystal clear version can be downloaded here: (172 megs)
http://www.spielbauer.com/JekyllDownload.htm
I also highly recommend reading the book. It reads like a mystery, a riddle to solved and although at 500+ pages long you'll rip through because it's thoroughly engrossing.
And let us never forget :
"Jefferson's Warning"
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
Thomas Jefferson, /Letter to the Secretary of the Treasury Albert Gallatin (1802) 3rd president of US (1743 - 1826)/
Truth passes through 3 stages. 1st-ridicule, 2nd-violently opposed, and 3rd, it's accepted as fact.
Federal Reserve is a private company not regulated by government or congress. They do what they want.
They are in the business of printing money, out of thin air. I repeat, they print all money and LOAN it to the government with interest. Where does the money to pay the interest come from you might ask? Well they print more, with interest of course. The end result is ENSLAVEMENT for you can never pay off your loan.
Now that's smart business. Why didn't i think of printing money?
You are aware, of course, that nearly all of the 'interest' is rebated right back to the gov't, right?
Try reading this...it should help.
http://www.geocities.com/CapitolHill/Senate/3616/FedReserveFacts.html
Conspiracy Theories: The Alien Anal Probe of the New Millenium
Debunking the Federal Reserve Conspiracy Theories (and other financial myths)
BY: Edward Flaherty, Ph.D. Department of Economics College of Charleston, S.C.
Facts: Yes, the Federal Reserve banks are privately owned, but they are controlled by the publically-appointed Board of Governors. The Federal Reserve banks merely execute the monetary policy choices made by the Board. In addition, nearly all the interest the Federal Reserve collects on government bonds is rebated to the Treasury each year, so the government does not pay any net interest to the Fed.
Facts: No foreigners own any part of the Fed. Each Federal Reserve bank is owned exclusively by the participating commercial banks and S&Ls operating within the Federal Reserve bank's district. Individuals and non-bank firms, be they foreign or domestic, are not permitted by law to own any shares of a Federal Reserve bank. Moreover, monetary policy is controlled by the publically-appointed Board of Governors, not by the Federal Reserve banks.
Fact: Independent accounting firms conduct full financial audits of the Federal Reserve banks and the Board of Governors every year. The Fed is also subject to certain types of audits from the Government Accounting Office.
Facts: The Federal Reserve rebates its net earnings to the Treasury every year. Consequently, the interest the Treasury pays to the Fed is returned, so the money borrowed from the Fed has no net interest obligation for the Treasury. The government could print its own currency independent of the Fed, but there would be no effective safeguards against abuse of this power for political gain.
Facts: The Federal Reserve banks have only a small share of the total national debt (about 7%). Therefore, only a small share of the interest on the debt goes to the Fed. Regardless, the Fed rebates that interest to the Treasury every year, so the debt held by the Fed carries no net interest obligation for the government. In addition, it is Congress, not the Federal Reserve, who is responsible for the federal budget and the national debt.
Facts: Kennedy wrote E.O. 11,110 to phase out silver certificate currency, not to issue more of it. Records show Kennedy and the Federal Reserve were almost always in agreement on policy matters. He even signed legislation to give the Fed more authority to issue currency.
Facts: McFadden was incorrect regarding the Fed costing the government money. However, later economic analysis agrees with him that Federal Reserve policy blunders had a substantial role in causing the Depression. However, his implication that this was done deliberately has no basis in fact. Moreover, for a dozen years prior to his rant, McFadden had been the chairman of the House subcommittee that oversaw the Federal Reserve. Why didn't he do anything to reform or abolish the Fed while he had the chance?
Facts: The banking system is indeed able to create money with a mere computer keystroke. However, a bank's ability to create money is tied directly to the amount of reserves customers have deposited there. A bank must pay a competitive interest rate on those deposits to keep them from leaving to other banks. This interest expense alone is a substantial portion of a bank's operating costs and is de facto proof a bank cannot costlessly create money.
Fact: The term 'lawful money' does not refer to gold or silver coin, but to types of money which the government would permit banks to use when tabulating their reserves. These types of money included, but were not limited to, gold and silver coin.
Debunking the Federal Reserve Conspiracy Theories (and other financial myths)
BY: Edward Flaherty, Ph.D. Department of Economics College of Charleston, S.C.
By an individual whose very existence as a Ph.D is paid in full by the crime syndicate and is currently living off the state dole to survive as state sponsored mouthpiece.
So someone who works for, get this, a college, and not a bank nor the government is not a valid source? What credentials would you consider valid enough to explain the Fed to you?
Facts: Yes, the Federal Reserve banks are privately owned, but they are controlled by the publically-appointed Board of Governors. The Federal Reserve banks merely execute the monetary policy choices made by the Board. In addition, nearly all the interest the Federal Reserve collects on government bonds is rebated to the Treasury each year, so the government does not pay any net interest to the Fed.
Which they control and elect as to who presides on the board and rules for it. The grand pooh bah is elected by them and is rubber stamped by the president as a course of formality and nothing more.
What part of Publically appointed don't you understand? And what do you have to say about the movie's erroneous claims about the central banks interest?
Facts: No foreigners own any part of the Fed. Each Federal Reserve bank is owned exclusively by the participating commercial banks and S&Ls operating within the Federal Reserve bank's district. Individuals and non-bank firms, be they foreign or domestic, are not permitted by law to own any shares of a Federal Reserve bank. Moreover, monetary policy is controlled by the publically-appointed Board of Governors, not by the Federal Reserve banks.
Show me a list of the FED’s owners so we can make that assertion…haven’t seen one to date and I bet you’ll never find a list of the 300+ owners of the FED who share in one trillion dollars per year as a tax free dividend.
Show me a source stating that there are 300 plus owners and that they receive a tax free dividend. Reliable source, please.
Who owns the Federal Reserve?
The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.
As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."
The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.
Fact: Independent accounting firms conduct full financial audits of the Federal Reserve banks and the Board of Governors every year. The Fed is also subject to certain types of audits from the Government Accounting Office.
I’m sure their annual paperwork is all in order, I have never disputed that.
“The Fed is also subject to certain types of audits from the Government Accounting Office”
Sure but to date no such audit has ever been undertaken. Just because there is a law that allows them to be audited doesn’t mean they will be. It has never happened to date. No full disclosure audit of the FED has ever been conducted.(FACT)
Are you claiming that the Fed has never been audited by any outside agency ever?
http://www.federalreserve.gov/boarddocs/rptcongress/
Unfortunately for your argument, the Fed is audited at least annually by an ouside firm as evidenced in the annual reports provided by that previous link
Facts: The Federal Reserve rebates its net earnings to the Treasury every year. Consequently, the interest the Treasury pays to the Fed is returned, so the money borrowed from the Fed has no net interest obligation for the Treasury. The government could print its own currency independent of the Fed, but there would be no effective safeguards against abuse of this power for political gain.
Notice that is Net earnings? Since a full audit has never been undertaken nor is it enforced, how is one to know what the net amount should be? The statement is nothing more than eye wash to arm the idiots with rebuttal points but the ambiguity still exists.
Your entire premise is flawed by the simple fact that the annual reports performed as part of an annual outside audit are readily available.
Facts: The Federal Reserve banks have only a small share of the total national debt (about 7%). Therefore, only a small share of the interest on the debt goes to the Fed. Regardless, the Fed rebates that interest to the Treasury every year, so the debt held by the Fed carries no net interest obligation for the government. In addition, it is Congress, not the Federal Reserve, who is responsible for the federal budget and the national debt.
Candy for the retards once again. The FED creates the credit to drive federal budget. Question: When has the FED ever said NO?
Should it? Why?
I'll take up your remaining points in jiff.....this should do for now.
Conspiracy Theories: The Alien Anal Probe of the New Millenium
Wow, how did we ever do without such a wonderful and useful institution. Boy was I wrong about the fed reserve.
Have you read that??
You should read what mr5150 had to say about it. He either knows more about the fed reserve than that phd or it's because he hasn't received any funds from them yet.
there are a lot of youtube videos that are anti federal reserve
shareI am not taking any sides here, but what is your opinion that the Federal Reserve was created with the public's interest in mind? I just think that this film is lacking hard evidence that the IRS and Federal Reserve should be abolutely be abolished. Isn't there supposed to be some organization over the money supply and taxation? The USA is still no where close to communism.
share[deleted]
The USA is still no where close to communism.
--------------------------------------------------------------------------------
it's heading there more rapidly than some would ever have guessed or will acknowledge.
http://www.youtube.com/watch?v=ol3mEe8TH7w
Jump to 7:38 to listen to the truth.
BTW, the Federal Reserve is INDEPENDENT of the government, but it is NOT PRIVATE or privately owned. In fact, if the Federal Reserve were to be dissolved, once the debts are paid, and the member banks are paid back their subscriptions, all assets would revert to the U.S. Government. This is specified in the law which governs the Federal Reserve.
http://www.law.cornell.edu/uscode/html/uscode12/usc_sup_01_12_10_3.htm l
http://www.law.cornell.edu/uscode/html/uscode12/usc_sec_12_00000290--- -000-.html
Members of the Board of Governors are in continual contact with other policy makers in government. They frequently testify before congressional committees on the economy, monetary policy, banking supervision and regulation, consumer credit protection, financial markets, and other matters.
The Board has regular contact with members of the President’s Council of Economic Advisers and other key economic officials. The Chairman also meets from time to time with the President of the United States and has regular meetings with the Secretary of the Treasury. The Chairman has formal responsibilities in the international arena as well.
The Federal Reserve System is an independent government institution that has private aspects. The System is not a private organization and does not operate for the purpose of making a profit. The stocks of the regional federal reserve banks are owned by the banks operating within that region and which are part of the system. The System derives its authority and public purpose from the Federal Reserve Act passed by Congress in 1913. As an independent institution, the Federal Reserve System has the authority to act on its own without prior approval from Congress or the President. The members of its Board of Governors are appointed for long, staggered terms, limiting the influence of day-to-day political considerations. The Federal Reserve System's unique structure also provides internal checks and balances, ensuring that its decisions and operations are not dominated by any one part of the system. It also generates revenue independently without need for Congressional funding. Congressional oversight and statutes, which can alter the Fed's responsibilities and control, allow the government to keep the Federal Reserve System in check. Since the System was designed to be independent whilst also remaining within the government of the United States, it is often said to be "independent within the government."
Andromeda_kkks - The Eva Braun for the new millennium!
http://www.youtube.com/watch?v=ol3mEe8TH7w
Jump to 7:38 to listen to the truth.
Or just read this....
BTW, the Federal Reserve is INDEPENDENT of the government, but it is NOT PRIVATE or privately owned. In fact, if the Federal Reserve were to be dissolved, once the debts are paid, and the member banks are paid back their subscriptions, all assets would revert to the U.S. Government. This is specified in the law which governs the Federal Reserve.
http://www.law.cornell.edu/uscode/html/uscode12/usc_sup_01_12_10_3.htm l
http://www.law.cornell.edu/uscode/html/uscode12/usc_sec_12_00000290--- -000-.html
Members of the Board of Governors are in continual contact with other policy makers in government. They frequently testify before congressional committees on the economy, monetary policy, banking supervision and regulation, consumer credit protection, financial markets, and other matters.
The Board has regular contact with members of the President’s Council of Economic Advisers and other key economic officials. The Chairman also meets from time to time with the President of the United States and has regular meetings with the Secretary of the Treasury. The Chairman has formal responsibilities in the international arena as well.
The Federal Reserve System is an independent government institution that has private aspects. The System is not a private organization and does not operate for the purpose of making a profit. The stocks of the regional federal reserve banks are owned by the banks operating within that region and which are part of the system. The System derives its authority and public purpose from the Federal Reserve Act passed by Congress in 1913. As an independent institution, the Federal Reserve System has the authority to act on its own without prior approval from Congress or the President. The members of its Board of Governors are appointed for long, staggered terms, limiting the influence of day-to-day political considerations. The Federal Reserve System's unique structure also provides internal checks and balances, ensuring that its decisions and operations are not dominated by any one part of the system. It also generates revenue independently without need for Congressional funding. Congressional oversight and statutes, which can alter the Fed's responsibilities and control, allow the government to keep the Federal Reserve System in check. Since the System was designed to be independent whilst also remaining within the government of the United States, it is often said to be "independent within the government."
Andromeda_kkks - The Eva Braun for the new millennium!
[deleted]
Sticks M? I agree.
Andromeda_kkks - The Eva Braun for the new millennium!
If the Federal Reserve is privately owned by banks who were bailed out by the government with money borrowed from the federal reserve... we (the taxpayers)basically borrowed money from the bank to bail out the bank when the bank was out of money??? Beam me up Scotty
sharejstephens8 wrote: on Fri Dec 26 2008 20:05:17
we (the taxpayers)basically borrowed money from the bank to bail out the bank when the bank was out of money??? Beam me up Scotty
You always back up the toxic system Mastershake.
It's BS and you know it.