Lanval wrote:
"The twelve regional Federal Reserve Banks were established as the operating arms of the nation's central banking system. They are organized much like private corporations—possibly leading to some confusion about ownership.
The Federal Reserve Banks have an intermediate legal status, with some features of private corporations and some features of public federal agencies. The United States has an interest in the Federal Reserve Banks as tax-exempt federally-created instrumentalities whose profits belong to the federal government, but this interest is not proprietary.[2] In Lewis v. United States,[3] the United States Court of Appeals for the Ninth Circuit stated that: "The Reserve Banks are not federal instrumentalities for purposes of the FTCA [the Federal Tort Claims Act], but are independent, privately owned and locally controlled corporations."
The simplest way to respond to that is this.
Yes, it is intentionally confusing.
The Twelve Central Banks, that they like to say are part private and part gov, have privately held stocks, with some supposed government oversight.
However, the benifit to creating "notes" and having a country use them with interest is a wonderful thing to it's owners. This can't be denied.
It's stocks are privately held. Limited shares were sold. Profits go to those share holders. It is secretive. We are not allowed to audit it.
The head Federal Reserve Bank is the New York one.
According to Wiki
http://en.wikipedia.org/wiki/Federal_Re ... f_New_York
"Among the other regional banks, New York Fed and its president are considered first among equals.[3][4] It is by far the largest (by assets), most active (by volume) and most influential of the 12 regional Federal Reserve Bank"
"The New York Federal reserve is a private bank and the largest in terms of assets of the twelve regional banks."
The actual 12 banks the make up the Federal Reserve Bank are privately owned with some gov regulations.
Continue researching, you may pull some hair out of your head. It won't be easy, like I said earlier on, you will see it is intentionally difficult to find information. No doubt you will find some "official" information that will make you think you found something to disapprove what I said. But I say if you sincerely look into the this system, you probably will understand where I am coming from. It will change your mind on things forever.
Lanval wrote:
Note that both the governing agency (i.e. decision makers) are gov't, thus the actions of the federal reserve are made in concert with government policy, rather than a private board who act only according to their own needs/desires (as would be the case in a true private corporation).
The effects of money backed by nothing loaned to a country still is what it is, and they have privately held stocks owned by international bankers.
Lanval wrote:Steve, you're not alone in hating the federal reserve (Jackson beat you to it by 190 years) but I'd remind you of what happened to the economy when Jackson got rid of the federal reserve:
1. The money held by the Fed was distributed according to the whims of the wealthy, creating tremendous imbalance in the broader economy, leading to:
2. Economic implosion as the economy ground to a halt
3. A massive financial panic that knee-capped Jackson's former VP, who became the next president.
I think I can find more people that say we had our best years after Jackson killed that bank.
Why do you fail to mention the wealthy that held the money before it ended and was distributed?
Lanval wrote:
In other words, Jackson got rid of the Federal Reserve system, destroyed the economy and when things got tough, retired to his large, wealthy estate to laugh at the little people.
Nice set of ethics there...
Mike
"Destroyed the economy" is pure opinion, there will be a bump after ending a system such as that. We had some of our best years after that.
May I ask you where you wanted Jackson to go and what did you want him to do? Good grief, he left office at the age of 70 and died 8 years later at the age of 78.
If you got that out of a history book, consider it biased and throw it away.
And actually, he got rid of a Central Bank, it was not called Federal Reserve System ATT.
Federal Reserve system was a clever name they came up with in 1913 to deceive the people.
You are correct, I am not alone.
"Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States."
-Sen. Barry Goldwater
It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
-Henry Ford
"The regional Federal Reserve banks are not government agencies. ...but are independent, privately owned and locally controlled corporations."
-Lewis vs. United States, 680 F. 2d 1239 9th Circuit 1982
The Federal Reserve banks are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this nation is run by the International bankers."
-Congressman Louis T. McFadden
I think he was food poisoned. He was against it in 1913.
“The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson.”
-Franklin Delano Roosevelt
"As soon as Mr. Roosevelt took office, the Federal Reserve began to buy government securities at the rate of ten million dollars a week for 10 weeks, and created one hundred million dollars in new [checkbook] currency, which alleviated the critical famine of money and credit, and the factories started hiring people again."
-Eustace Mullins
"This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson} signs this bill, the invisible government of the monetary power will be legalized....the worst legislative crime of the ages is perpetrated by this banking and currency bill."
-Charles A. Lindbergh, Sr. , 1913
"When you or I write a check there must be sufficient funds in our account to cover the check, but when the Federal Reserve writes a check there is no bank deposit on which that check is drawn. When the Federal Reserve writes a check, it is creating money."
-Putting it simply, Boston Federal Reserve Bank
That is enough quotes for now, I think that is about half of them.