THE PEOPLE!!! THE WORKERS!!!
THE PEOPLES BANK IS OWNED BY THE PEOPLE OF THE PEOPLE’S DEMOCRATIC REPUBLIC OF CHI Ahhhhhh… I cant even fake it…
Lard fried biscuits anyone?
The Fed is a private company. It would be more accurate to say that the government is appointed by the Fed, than the other way around.
So the FED is like courts of law?
the way the FED is structured, who “owns” it doesn’t really matter much. What matters, is who has the power, and all of the people in the positions of power get into those positions by being very close to people very high up in government. Member banks are required to have a certain level of shares based on certain factors and they do make a guaranteed 6% every year which is nice, but thats nothing in comparison to the harm caused by the business cycles the FED fuels with its monetary policy.
I literally LOLd - I hope you’re joking. If not, all you’ve done is prove that you believe the propoganda.
:golf clap:
Finally some truth in here. I thought if anything, the mises community would understand how the Fed is owned and operated. I’m surprised so many on here don’t understand this.
Apparently I don’t know how to quote. My propoganda comment was aimed at juan646.
My truth comment aimed at Nerohero
http://www.globalresearch.ca/index.php?context=va&aid=8518
This document tends to show that the Fed is privately owned.
I have never heard about this story…
The fact that the Federal Reserve Board regulates the Reserve Banks does not make them federal agencies under the Act. In United States v. Orleans, 425 U.S. 807, 96 S.Ct. 1971, 48 L.Ed.2d 390 (1976), the Supreme Court held that a community action agency was not a federal agency or instrumentality for purposes of the Act, even though the agency was organized under federal regulations and heavily funded by the federal government. Because the agency’s day to day operation was not supervised by the federal government, but by local officials, the Court refused to extend federal tort liability for the negligence of the agency’s employees. Similarly, the Federal Reserve Banks, though heavily regulated, are locally controlled by their member banks. Unlike typical federal agencies, each bank is empowered to hire and fire employees at will.
Additionally, Reserve Banks, as privately owned entities, receive no appropriated funds from Congress. . . .
The common claim that the Fed is accountable to the government, because it is required to report to Congress on its activities annually, is incorrect. The reports to Congress mean little unless what the Chairman reports can be verified by complete records. From its founding to this day, the Fed has never undergone a complete independent audit. Congress time after time has requested that the Fed voluntarily submit to a complete audit, and every time, it refuses.
Those in the know about the Fed, realize that it does keep certain records secret. The soon-to-be-former Chairman of the House Banking Committee, Henry Gonzales, has spoken on record repeatedly about how the Fed at one point says it does not have certain requested records, and then it is found through investigation that it in fact does have those records, or at least used to. It would appear that the Fed Chairman can say anything he wants to to Congress, and they’ll have to accept what he says, because verification of what he says is not always possible.
Your english is fine. Good post, thanks for sharing. I’ve heard of that case but that’s the first time I’ve read it completely. Funny how the Fed is not a government agency UNLESS it’s to avoid paying taxes. Then and only then, they are considered a government agency.
I read in Eustace Mullins’ Secrets of the Federal Reserve that the sale of shares in the federal reserve bank was a onetime private sale to a handful of bankers and statesmen. You can’t buy any of the shares and the information about who owns the shares is private. The men who first organized to bring about its creation were Nelson Aldrich (Rockefeller ?and? Morgan man), A. Piatt Andrew (Sec of Treasury and editor of National Monetary Commission, a warburg propoganda journal), Frank Vanderlip (Rockefeller bankman), Benjamin Strong (Morgan bankman), Henry P. Davison (Morgan bankman), and Paul Warburg (Mackdaddy of the clever banksters, of KuhnLoeb, representing Rothschild interest). Obviously the rockefellers, rothschilds, and morgans were all over the federal reserve. In all probability those who purchased these one-time shares were representatives of these groups. Probably strong, vanderlip, and warburg purchased some shares. Anyways, it’s not a sure thing to say who owns it now, but it wouldn’t be in the interests of those families, not that I can see at least, to sell their shares to outside their banks.