Value of the Dollar

[nate45]

So the short answer to who owns the banks is (drumroll, please) - us.

The banks you listed do not own or control The Federal Reserve Corporation. The Federal Reserve Bank of New York is the most important of the twelve Federal Reserve Banks of the United States. In The Secrets Of The Federal Reserve, Eustace Mullins indicates that, because the Federal Reserve Bank of New York sets interest rates and controls the daily supply and price of currency throughout the U.S., the owners of that bank are the real directors of the entire system. Mullins states:
"The shareholders of these banks which own the stock of the Federal Reserve Bank of New York are the people who have controlled our political and economic destinies since 1914. They are the Rothschilds, Lazard Freres (Eugene Mayer), Israel Sieff, Kuhn Loeb Company, Warburg Company, Lehman Brothers, Goldman Sachs, the Rockefeller family, and the J.P. Morgan interests."


I can't find the source right now, but I believe it is 54% of the Federal Reserve Bank of New York that they own.

It has been one of the best kept secrets of the century, because the Federal Reserve Act Act of 1913 provided that the names of the owner banks be kept secret.

I'm not sure who exactly owns and controls Barclays, but world banking
is all interconnected and a closed loop.

Even if I am 100% wrong about the true ownership of the Fed, that does not change the fact that our money supply is a purely arbitrary entity with nothing behind it except debt.

[homefires]

Here you go!





http://video.google.com/videoplay?do...80303867390173

[gc70]

Even if I am 100% wrong about the true ownership of the Fed

You are wrong, but that has not stopped you from repeating the same demonstrably false statements. The thing that perplexes me is why you shy away from pursuing discussion of your own rational arguments (and you have made several) to flog a laughable and totally discredited conspiracy theory.

[nate45]

Yes, that is a very good film homefires. Everyone should watch it.
Also if you'll notice your checks returned from the IRS when you voluntarily pay your income tax are stamped 'Deposited in the Federal Reserve Bank' thats right every penny we pay in income tax goes directly to pay the interest on the national debt.

[nate45]

a laughable and totally discredited conspiracy theory.

The supposition of who the true owners of the Fed are is based on sources in the Swiss banking community and the examination of the charts and text in the House Banking Committee Staff Report of August, 1976.

You say it has been discredited. How and by whom?

Since its inception in 1913 the Fed has never been audited.

In 1975 a bill H. R. 4316, to require Federal Reserve audits, was introduced in Congress. Due to pressure from the currency-controllers, it was rejected. No audit of the Federal Reserve has ever been done.

[Bullet94]

From Wikipedia, the free encyclopedia-

The plan adopted in the original Federal Reserve Act called for the creation of a System that contained both private and public entities. There were to be 8 to 12 private regional Federal reserve banks (12 were established) each with its own branches, board of directors and district boundaries (Sections 2, 3, and 4) and the System was to be headed by a seven member Federal Reserve Board made up of public officials appointed by the President (strengthened and renamed in 1935 as the Board of Governors of the Federal Reserve System with the Secretary of the Treasury and the Comptroller of the Currency dropped from the Board - Section 10). Also created as part of the Federal Reserve System was a 12 member Federal Advisory Committee (Section 12) and a single new United States currency, the Federal Reserve Note (Section 16).
Congress decided in the Federal Reserve Act that all nationally chartered banks were required to become members of the Federal Reserve System. It requires them to purchase specified non-transferable stock in their regional Federal reserve bank and to set aside a stipulated amount of non-interest bearing reserves with their respective reserve bank (since 1980 all depository institutions have been required to set aside reserves with the Federal Reserve and be entitled to certain Federal Reserve services - Sections 2 and 19). State chartered banks have the option of becoming members of the Federal Reserve System and to thus be supervised, in part, by the Federal Reserve (Section 9). Member banks are entitled to have access to discounted loans at the discount window in their respective reserve bank, to a 6% annual dividend in their Federal reserve stock and to other services (Sections 13 and 7). The Act also permits Federal reserve banks to act as fiscal agents for the United States government (Section 15).

I believe money is only a means of exchange and that paper money is better than gold for this as long as the people responsible for the paper money print it for the benefit of the citizens of our country. Whether the Federal Reserve is privately owned or not it makes no sense for our country to owe interest to anyone for being in charge of what should be our countries money. I believe if our money was completely under our governments control there would be NO interest charged, NO national dept and NO taxes. I know if I could print our countries money I sure wouldn’t need to borrow money from anyone and I sure wouldn’t need your money (taxes). As long as the money was printed for things that helped our country who would complain? If Congress had an unlimited supply of money then the debate would be what to do to help the country instead of how do we spend the limited money that we now have. There are many projects that could be paid for by the government that would create jobs, stimulate economic growth and in general benefit our country as a whole. How about doubling social security for the elderly and paying for their prescription medicines? How about rebuilding our roads and bridges? How about free utilities? Medical research and fuel independence also come to mind. The list of things the government could do to help our country and our people would probably be long and stimulate much debate and in the end we all would benefit. I usually solve all the worlds problems a couple times a week but I believe the real answer is that the world is a mess. It’s always been a mess. It always will be a mess and that’s why they don’t call this heaven.

PS - There are 4 Supreme court judges that didn’t think the second amendment affirmed our right to keep and bear arms. They should be removed from the court before they have anymore influence in our judicial system.

.

[gc70]

Since its inception in 1913 the Fed has never been audited.

The Federal Reserve's annual reports to Congress include copies of financial audits by major public accounting firms. That is done every year. In 2007, Deloitte & Touche LLP, were the independent auditors (page 5 contains the audit certification and opinion).

No audit of the Federal Reserve has ever been done.

The Federal Banking Agency Audit Act of 1978 (Public Law 95-320 or 31 USC 714) gives the Comptroller General of the United States (Government Accountability Office or GAO) authority to audit the Federal Reserve. This Congressional testimony by the GAO talks about such audits. Here is a recent GAO report on the Federal Reserve.

nate45, pursue your own valid discussion topics rather than repeating someone else's lies when even cursory research shows them to be untrue.

[nate45]

pursue your own valid discussion topics rather than repeating someone else's lies when even cursory research shows them to be untrue.

I think the true ownership is a very valid topic. Cursory research is not sufficient to determine the true ownership. Contrary to what you may assume I have read the Federal Reserve Act and the following is patently obvious.

The Federal Reserve Banks of each region are owned by (issue their stock exclusively to) the member banks of that same region. The member banks are privately owned corporations. Thus the Federal Reserve Banks are privately owned. This is a matter of law and anyone may read the Federal Reserve Act of 1913 for themselves.

My assertion is that through their proxies and subsidiaries(the member banks) the largest most powerful banks in the world have effective control of the policies of the Federal Reserve. If in fact foreigners don't actually control it and only private American banks do, that fact doesn't make "Central Banking" any less a threat to the security and liberty of America.

The people who have a vested interest in denying the private ownership and control of the Fed are owners of the Federal Reserve Banks, and their shills.

It is obviously not in their interest that the American people realize that private bankers own what most people regard as a part of the public treasury and government. The people would doubtless not like it if they knew that the stockholders of the Federal Reserve Banks receive 6% interest (raised higher in the past) per year on their stock ownership, risk free. The people would be legitimately concerned to know that the member bank stockholders elect six of the nine members (i.e., 2/3rds) of the Boards of the reserve banks of their regions. Rather than regulating or controlling the activities of private banks in their regions, the opposite is the case.

The truth and the law is that the member banks own and control all 12 Federal Reserve Banks. Think about it: if the Fed is independent from the government that created it and privately owned then who controls it — it has no brain of its own — it is not a person. If it is not controlled by our government, then by whom?

[gc70]

The truth and the law is that the member banks own and control all 12 Federal Reserve Banks. Think about it: if the Fed is independent from the government that created it and privately owned then who controls it — it has no brain of its own — it is not a person. If it is not controlled by our government, then by whom?

It is absolutely true that the 12 Federal Reserve Banks are owned and controlled by their US member banks. The Federal Reserve Banks are bankers' banks, or bank service companies, or banking co-ops. If you are concerned that US member banks are owned and controlled by foreign interests, just look up the ownership of the largest banks in the US (post #99 is a start) and you will find that that assertion is not true.

The Federal Reserve Banks do not make monetary policy. The Federal Reserve Board of Governors makes monetary policy. The Board of Governors is made up of people appointed by the President and confirmed by the Senate. Regardless of who owns or controls the Federal Reserve Banks, monetary policy is made seperately by political appointees.

Consider this analogy:
Grain farmers create, own, and use the services of grain co-ops; grain is traded on the Chicago Mercantile Exchange which is separately owned.
US banks own and use the services of the Federal Reserve Banks; monetary policy is made separately by the politically-appointed members of the Federal Reserve Board of Governors.

BTW the 12 Federal Reserve Banks are private companies and their employees are not government employees, while the Board of Governors of the Federal Reserve System is a government entity and its employees are government employees. You can check the job postings of the Federal Reserve Banks and the Board of Governors to see this distinction.

[nate45]

The Federal Reserve Banks do not make monetary policy. The Federal Reserve Board of Governors makes monetary policy. The Board of Governors is made up of people appointed by the President and confirmed by the Senate. Regardless of who owns or controls the Federal Reserve Banks, monetary policy is made seperately by political appointees.

There are those persons who, in their ignorance, believe the propaganda of the Federal Reserve Banks, which sometimes issue ambiguous, doublespeak statements attempting to obfuscate their private bank ownership. Here is a typical example from the NY Fed website, quite easily seen through: “Although they are set up like private corporations and member banks hold their stock, the Federal Reserve Banks owe their existence to an act of Congress and have a mandate to serve the public. Therefore, they are not really "private" companies, but rather are "owned" by the citizens of the United States…Member banks do, however, receive a fixed 6 percent dividend annually on their stock and elect six of the nine members of the Reserve Bank's of their region… the Reserve Banks issue shares of stock to member banks.”

There are people like gc70 who consider that because the Chairman of the Federal Reserve Board of Governors is appointed by the President and approved by the Senate that the Fed is firmly under government control and that this is sufficiently equivalent to ownership to put them at ease (never mind the outright private bank control of the 12 regional Federal Reserve Banks). Let’s hear how the Fed itself regards such indirect “government control” (again from the NY Fed website): 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.

[nate45]

Here is the bottom line:

The Federal Reserve consists of 12 regional banks, the stock of which is owned and the Boards controlled by the member banks, which are privately owned bank corporations. These institutions receive 6% profit on their funds paid into the Fed, rain or shine, peace or war (sometimes more).

The Federal Reserve Board of Governors is an independent (its own word) entity “within” the government (i.e., something much like an independent, internal parasite in a host organism), with 14 year, reform-proof terms (i.e., only one of 7 can be replaced every two years).

The Fed was deliberately designed to appear as a sort of government body to hide the fact that it is a private banking cartel whose member banks share in the vast profits of seigniorage (i.e., the difference between the cost of printing/minting or otherwise creating money [a few cents per $100], and its face value). Yes, the Department of the Treasury does still mint our coins (at the US mint) but that represents under 1% of the US money supply, the great bulk of which is simply bankbook entries - electronic keyboard impulses in computer memories - created by banks on-the-spot to fund loans they make in response to loans applications their "customers" submit (hence the competition by banks for your loan applications and credit card borrowing).

[gc70]

...

[johnbt]

I can't believe how little some people know about the operation of the Federal Reserve system. And no, conspiracy theories don't count as knowledge. No matter how the facts are spun, there is still one key fact - anytime Congress is unhappy with the way the Federal Reserve system is being handled it can change the Federal Reserve Act. Now there is some serious leverage folks. If Congress doesn't like the audits, the reports and the day-to-day management it can change the system. Change it, eliminate it, whatever they like.

John

[nate45]

I can't believe how little some people know about the operation of the Federal Reserve system. And no, conspiracy theories don't count as knowledge.

I refer you to post #111 right above so you will not have to look very far and defie you to prove any of the information in it is incorrect.

If Congress doesn't like the audits, the reports and the day-to-day management it can change the system. Change it, eliminate it, whatever they like.

The reason should be clear. When you study our "debt-currency" system, you soon realize that the politicians are not the agents of the people. They are the agents of the Federal Reserve bankers, for whom they plan ways to place the people further in debt.

"I have never seen more senators express discontent with their jobs. ... I think the major cause is that, deep down in our hearts, we have been accomplices to doing something terrible and unforgivable to this wonderful country. Deep down in our hearts, we know that we have bankrupted America and that we have given our children a legacy of bankruptcy. ... We have defrauded our country to get ourselves elected."- Sen. John Danforth