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The Federal Reserve


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The Federal Reserve

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 Big Mike 
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Fantastic post Brian.

A few questions for the sake of discussion...

Which individuals own The Fed?

How do you make Banks return to doing the business you described? They certainly won't volunteer to do so, and they can't be regulated to do so, since they own the politicians.

How do you return to the Gold Standard? I mean, how do you get there from here? What would it really look like, how would you ever hope to implement it and undo all that has been done?

Take a look at what China is up to, and they openly announce they want to destabilize the Dollar and create an alternative currency - will they do so with actual Gold? If I recall correctly, they've amassed something like 1,000 tonnes in the last 5 years, but the world supply of Gold is something like 100,000 tonnes.

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This is amusing:

FRB: Who owns the Federal Reserve?


Quoting 
The Federal Reserve System fulfills its public mission as an independent entity within government. It is not "owned" by anyone and is not a private, profit-making institution.

As the nation's central bank, the Federal Reserve derives its authority from the Congress of the United States. It is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the 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 the Congress, which often reviews the Federal Reserve's activities and can alter its responsibilities by statute. Therefore, the Federal Reserve can be more accurately described as "independent within the government" rather than "independent of government."

The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to 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.

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More for sake of stimulating debate...

If The Fed is a independent entity within the government, as described on the official website, why are we paying it interest?

The money that The Fed creates is from nothing, but the interest payments are real. The official website says The Fed is not a private company and is not for-profit. So where are the records? All those interest payments we are making, where exactly is that in the budget - revenues? Those are public docs, are The Fed interest payments listed somewhere, since it is a 'entity within the government'?

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Big Mike View Post
Fantastic post Brian.

A few questions for the sake of discussion...

Which individuals own The Fed?

How do you make Banks return to doing the business you described? They certainly won't volunteer to do so, and they can't be regulated to do so, since they own the politicians.

How do you return to the Gold Standard? I mean, how do you get there from here? What would it really look like, how would you ever hope to implement it and undo all that has been done?

Take a look at what China is up to, and they openly announce they want to destabilize the Dollar and create an alternative currency - will they do so with actual Gold? If I recall correctly, they've amassed something like 1,000 tonnes in the last 5 years, but the world supply of Gold is something like 100,000 tonnes.

Mike

The book The Creature From Jekyll Island details the Fed's ownership. Originally it was a consortium of private banks. Some of those banks no longer exist having been merged with other banks. I don't know the ownership currently. This is one reason Senator Ron Paul's call for a Fed audit is so adamantly opposed.

As to a return to the gold standard, there are several papers on that by the mises.org people.

As to China, I think those guys figured it out and know the only way to survive catastrophic failure is by doing exactly what they're doing.

As to the world's supply of gold not being enough to go around, the guys at mises.org have proposed a solution for that. Its basically simple math. Take at look at The Mystery of Banking @Gabriyele posted. The math solution was proposed in 1983 but the principals are the same today. The numbers are just different. There are a couple of competing ideas here but either of them are better than what we have now.

Sorry I dodged the question on how I would implement these things. That question is above my pay grade. However, running the country is above the pay grade of almost every politician we have at the moment....so I guess either they or I are in good company......

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Big Mike View Post

Classic.

All that "oversight" crap is a smokescreen to give the appearance of legitimacy.

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Big Mike View Post
More for sake of stimulating debate...

If The Fed is a independent entity within the government, as described on the official website, why are we paying it interest?

The money that The Fed creates is from nothing, but the interest payments are real. The official website says The Fed is not a private company and is not for-profit. So where are the records? All those interest payments we are making, where exactly is that in the budget - revenues? Those are public docs, are The Fed interest payments listed somewhere, since it is a 'entity within the government'?

Mike

Have you seen the street magicians game where you try to guess which cup the dice is under after he moves it all around the table? This is what's going on with the Fed. Its a con game with trillions of tax payer dollars as the payoff for winning and the house (FRB) is the house.

Secondly, do you believe every thing you read on "official websites"? I thought not.....

I just thought of something, the NSA monitors this kind of debate. I think I might have to change my screen name and IP address.

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I'm not an expert but just wanted to post about going to gold standard for the US and I'm surprised that this keeps coming up. Unless I'm misinformed (happens often, that's why I stay humble) this cannot be done. Here are the facts as I've seen them:

US Gold in Reserve: 8100 tons (worth $450 Billion or so)
US Dollar in circulation: $2.3 trillion
Either the US has to take $2 trillion USD out of circulation or they would have to buy about 35,000 tons of gold(there's about 175,000 tons in the world today).

This would mean the US would have to buy alot of gold.

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PandaWarrior View Post
I just thought of something, the NSA monitors this kind of debate. I think I might have to change my screen name and IP address.

Funny, @Gary and I often talk about the problems of this country, and I always joke that we have to stop because 'they' are listening. We laugh. But then realize it isn't a joke...

We could always move this thread to the Elite section

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Big Mike View Post
More for sake of stimulating debate...

If The Fed is a independent entity within the government, as described on the official website, why are we paying it interest?

The money that The Fed creates is from nothing, but the interest payments are real. The official website says The Fed is not a private company and is not for-profit. So where are the records? All those interest payments we are making, where exactly is that in the budget - revenues? Those are public docs, are The Fed interest payments listed somewhere, since it is a 'entity within the government'?

Mike

These are the main shareholders as of December 2005 for the Federal reserve:

Rothschild Bank of London
Warburg Bank of Hamburg
Rothschild Bank of Berlin
Lehman Brothers of New York
Lazard Brothers of Paris
Kuhn Loeb Bank of New York
Israel Moses Seif Banks of Italy
Goldman, Sachs of New York
Warburg Bank of Amsterdam
Chase Manhattan Bank of New York

Look on the internet you can find lots of info on them and a billion conspiracy's too...

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Mobiius View Post

This would mean the US would have to buy alot of gold.

Crank up the printing presses! Oh, wait...

Mike

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