Is the Fed privately owned?

Pepik - The Federal Reserve is a private banking cartel comprised of 12 private banks.

Pepik - Before 1913, the TREASURY (ie. the US government) minted its own money with gold backing.

Pepik - In 1913, with the passing of the FEDERAL RESERVE ACT, the federal government handed its ability to print money over to the private banks that make up the FEDERAL RESERVE.

Pepik - Following the creation of the Federal Reserve, the US government then barrowed all its money from PRIVATE BANKS, instead of printing the money itself, as it did prior to 1913.

Pepik - How much clearer can I get, or do you want to continue arguing over semantics about how the FED must be federal because of the FOMC, which are nothing more than a bunch of shills working for these private banks?

You are a waste of time, pal.

 

No it isn't. If you actually knew what you were talking about, you wouldn't even refer to it as the "Federal Reserve". It is the Federal Reserve System, and the Regional Federal Reserve Banks - which are privately owned - are only part of it. Monetary policy, i.e. control of the money supply, resides with the FOMC and the real authority is with the Board of Governors, appointed by the President and confirmed by the Senate (see http://www4.law.cornell.edu/uscode/html/uscode12/usc_sec_12_00000241----000-.html). Ownerhsip of RFRB shares is not the exclusive preserve of the Rothchilds, all banks are required to own shared in their RFRB (see http://www4.law.cornell.edu/uscode/html/uscode12/usc_sec_12_00000282----000-.html). You can call them a cartel, but it would be hard to explain what they are a cartel of, since they don't have any commercial banking activities.Furthermore, their profit is limited to a 6% dividend per year (see http://www4.law.cornell.edu/uscode/html/uscode12/usc_sec_12_00000289----000-.html)

No, actually the US government still mints its own (physical) money, the US Mint is part of the Treasury (and all notes have the Secretary of the Treasury's signature on them) and gold backing lasted well past 1913. If you count Bretton Woods, it lasted until the 1970s.

No, physical money is printed by the US mint, which is part of the US Treasury (see http://www.usmint.gov/ it says Department of the Treasury in the heading). The money is then distributed via the RFRBs.

What the hell are you talking about. Ever heard of government bonds? What do you think all these government bonds are all for if they only borrow from the private banks? Why do you miss such huge logical errors?

There's no semantics, the Federal Government controls the money supply via the FOMC. You can't seem to get a single thing straight with your conspiracy theory.

 

You've got me laughing out loud now pointbreak...........I could care less what you have to say now as I see you for what you are, but answer me one question. Why did you choose the name "Pepik" to come back under? Why did you name yourself after a company that deals in RFID?

 

.........what was your point in posting, just to attack someone who may know more than you?

 

Why don't you read the rest of the thread before you jump to conclusions, i've been debating pointbreak on this issue all through this thread, and all he has done is edit what i've said, and edited the information I gave him to suit his own agenda. I do NOT believe pointbreak knows more than me, his only purpose is to distort the truth to confuse those gullible enough to give him creedence.

 

..........and I still want to know why pointbreak came back under the name "pepik"

 

Who said I named it after a company that deals in RFID? Oh right, that was Rat's accusation in the middle of a post where he complained about ad homeneim attacks and dodging the argument. Pepik is a Czech name, as the tiniest amount of effort would have shown you.

Debating? You haven't responded to a single thing I said, and when I respond to YOUR posts by reading YOUR sources and show how they contradict YOUR story, you whine about how that's unfair. You don't even know what "the Fed" means. I link to the actual US Code that applied to the Federal Reserve System, you link to crackpot websites which still manage to contradict your theory.

 

I have to amend an earlier statement - paper currency is produced by the Bureau of Engraving and Printing, the US Mint only produces coins. Both are part of the Treasury.

 

pointbreak, I apologize, while pepik is the name of a company that deals in RFID technology, you are right it is also a czech name, and I notice that you have a czech flag as your avatar, therefore I admit I made an assumption that was incorrect, however given the obvious bias in your arguments, I really did think it likely that you would be involved in something as nefarious as RFID, I was wrong, I never claimed to be infallible, thank you for taking the question seriously and clearing that up.

However, I do feel that you severely edited the information I gave you, as I said before. It is also apparent that you edited some of my posts when qouting me, one only needs to read the entire thread to see that you left entire parts of sentences out in places, making me appear to be saying something i'm not, while this may be appropriate in some instances, I believe both you and I realize that it was imperative to qoute my entire sentence in order to understand the context. I do not trust your sources, the United States government is FULL of propaganda, and ivy league schools are nothing but a training ground for future oppressors. OF COURSE they are not going to disclose that the Federal Reserve is privately owned, if the common man knew that, the entire system would collapse. You do not trust my sources as you seem to think all I gave you was "conspiracy websites" I didn't realize that Wikipedia and Auburn University we're considered "conspiracy websites" I do not consider American Patriot Friends Network to be a conspiracy website either, but i'm sure someone such as you, who swallows every pill the united states government gives them, could see grassroots information sources as "conspiracies". Unfortunately you have been indoctrinated to think a certain way, so I don't hold your blind acceptance against you.....just another profane sheep, like the majority of "americans" and "europeans". So I guess we have to agree to disagree, I think your sources are propaganda, and you think mine are "conspiracy", we will never see eye to eye and that's fine, although I truly hope if you DON'T have some type of personal agenda here, someday your able to break the binds of indoctrination and see what is really going on. PR may continue to debate you, but I will not, as I said before, it is a waste of time. You think my arguments are bullshit, and the only thing your bringing to the table is a bunch of regurgitated rhetoric that i've heard over and over.....I used to believe that also, however now I do not....the only way you will ever "GET IT" is if you conduct your own research and reach your own conclusions....you seem like an intelligent human, do yourself a favor and stop swallowing everything you take as "FACT" you will be amazed at what you uncover. Love and light mate.

 

A minor point to the person who said RFID is evil:

You have to remember, RFID has been around and in use since the early 50s. I just don't know why people are complaining about it NOW? What took so long? The military was using it by the late 50s, it was used in commercial applications by the mid 60s and expanded greatly by the 70s...

It is pretty primitive technology by todays standards. Though I don't like it, I am just saying, its been in use more and longer than you would realize.

 

Well I agree with you somewhat, it has been around a while. *I* wasn't alive in the 50's, but as soon as *I* became sentient enough to realize what it is, I began protesting the technology. I don't think it's just "now" being complained about, more than likely informed people have been protesting the technology for decades, you are the one just now becoming aware of that yourself, after all your only 22. You must also take into account that the internet is still a relatively new technology (for mainstream use) and information like this just became available to the public within the last decade or so.

 

If that's true then you should be able to prove it rather than just accuse me.

Again, go ahead and show where I did that.

This is one of the advantages of arguing in favor of conspiracy, because by nature everything that disagrees with you is therefore part of the conspiracy. What sources does that leave me with? None.

That's why I try to use logic, and undisputed facts whenever possible. For example, I showed the specific parts of the US Code which apply to the Federal Reserve System (whether hosted by Cornell or not, it isn't editorial, it is the actual code - you can read the same code at http://www.access.gpo.gov/uscode/title12/chapter3_.html). This is the actual text of the actual law - about as primary a source as you can get - but it seems like you refuse to look at it anyway.

Instead of relying on fact, I could, for example, have just referred you to editorial (an excellent one is at http://www.geocities.com/CapitolHill/Embassy/1154/flaherty.html although by your logic since this guy has a PhD in Economics we can't trust him as much as we can trust some random crank on the internet). Rat likes to post editorial. Personally, I don't outsource my opinions, I can express my views in my own words and back them up myself.

This is a circular argument, i.e. "of course there's no proof, its a conspiracy!" The lack of proof is considered proof. Also, its becoming a bit annoying that you continue to refer to "The Federal Reserve", I've asked both of you to define what you mean by that, and I have explained how the Federal Reserve System is different from the RFRBs. I still don't believe that you understand the difference or even care enough to try to find out.

Lets go through your sources again then.

1. Your wikipedia article said the RFRBs, not "The Fed" or "The Federal Reserve System" are owned by private banks. I've always agreed with that, although their ownership is not so simple since it is a) mandatory and b) come with very restricted rights, nothing like the rights you would have in a regular bank as a shareholder. That's why why wikipedia puts the word owned in quotation marks, something you did too when you quoted them. Wikipedia further says "...the [RFRBs] are organized much like private corporations—possibly leading to some confusion about 'ownership.' "

Anyway, that's what I've known all along - you don't understand the difference between the RFRBs and the Federal Reserve System. Conspiracy websites tell you that the Fed is privately owned, and then provide evidence to show you that the RFRBs are privately owned - its a sleight of hand which apparently fools a lot of people.

Reading futher in your wikipedia article, "The Board of Governors of the Federal Reserve System is an independent federal government agency." It also says that "The Board of Governors is responsible for the formulation of monetary policy. It also supervises and regulates the operations of the Federal Reserve Banks, and US banking system in general." This wikipedia article contradicts you in so many ways I hardly have time to list them all.

2. Your article at www.auburn.edu also contradicts what you claim. It says "The Federal Reserve System's highest decision-making body is its Board of Governors, which consists of seven members. Members of the Fed's Board of Governors are nominated for their positions by the President of the United States and then must be confirmed by a majority vote of the Senate before taking office." Again, this completely contradicts what you are saying and support what I am saying.

3. Your save-a-patriot article links to a story which says the RFRBs are privately owned, which is yet another attempt to prove something irrelevant - that RFRBs are 'private' in a certain sense is not the issue -the issue is who controls monetary policy. However, even ignoring this problem, the article contradicts itself as it notes ways the RFRBs have been found to be Federal for some purposes, e.g.

I would also consider the title "save a patriot" used ("Court Rules Federal Reserve is Privately Owned - Case Reveals Fed's Status as a Private Institution") to be an outright lie - a typical effort by conspiracy theorists to refer to the Fed in vague terms in order to create confusion between the RFRBs and the rest of the Federal Reserve System.

And that brings us to source number four.

4. Look at this contents page : http://www.apfn.org/apfn/apfncont.htm. I'd have a harder time listing conspiracies they don't believe in that conspiracies they do, the list is so long. Chemtrails, 911 conspiracies, demonic globalists, pearl harbour, waco, oklahoma, AIDS, moon landing... this is probably the perfect example of a conspiracy website.

I think it is standard practice for conspiracy theorists to accuse everyone who doesn't believe their theories of 'believing everything the US government tells them'. Its a cheap smear and incredibly lame.

Thanks so much.

Its the chemtrails talking.

If you think the US Code is propaganda, you might as well call the Constitution propaganda.

No, they aren't all conspiracy. Some of them are valid sources, unfortunately for you they contradict your argument and support mine. Even your conspiracy websites don't do an adequate job of making your case.

If only you realised how indoctrinated you sound when you talk like that.

 

Oh just admit it, pressed rat you are an anti-jewish, paranoid

All this bull that theres any sort of a conspiracy at the level of bankss and government - I MEAN WHO WOULDA THUNK IT except homer simpson -

Course theres a conspiracy - how do you think they keep inflation under control and why do you think governments sometimes suppress the sale of their own currency - maybe if you understood banking a bit more - well it might show and theen you could impress people but as it stands I mean its a bit lame to claim a collusion between the bamks, big corporations, and government is in operation - BECAUSE ITS TRUE but without that collusion you would starve by about the end of next month - the way it works is that the three sectors all get together and temper each others ambitions with a forecast of what the economy would do under certain conditions - thats forecast modelling for ya !

They all amnipulate the economy to provide a balanced economic structure - and when they sometimes get it wrong - your economy collapses

 

Nice Book Review bout the evolution of The Federal Reserve Bank lots of links
good reading. Check the comments.

http://www.slate.com/id/2162467/fr/flyout

People who follow The Fed are Fedwatchers.

Read The Wall St Journal->Money & Investing( 3rd Sect.) -> Credit Markets.
Be an insider!
If you do home mortgages its almost required reading.

Like anything else it gets less mysterious over time. Like listening to baseball managers Joe Torre or Willie Randolph, you learn to read between the lines
of the very criptic statements.

The Super rich can make money during any market condition they have the
inside advice to do all kinds of tricks. The Fed brings the stability necessary for ordinary people to invest in markets also and it protects Granny's passbook account from inflation.

The Wizzard of OZ was the first banking conspiracy theory. We all walk the Yellow Brick Road its the land of OZ.

 

None of this is conspiracy theory. Yet when asked to back it up, Rat runs away.

 

pepik...you sound like an apologist for the tyrrany and greed that our current socio-economic system has bred. Why argue over all these details?....public or private, the fed is the krux of a lot of our problems, that should be the main point.

 

The Nations of Panama, Equador and Liberia all use the Dollar instead of a native sovereign currency in part because they trust The Fed more than they would thier own bankers, due to corruption.


Really Rich people dont need The Fed. They are so well plugged in that
thier wealth can be insulated and grown in any type of economic climate.
Its the middling sort who gain the greatest benefit from the stability of The Fed

 

The FED is of benefit to nobody other than those who control it for their own gain. What "gain" has the FED brought the American people? What "gain" have the private banks brought the American people? Does debt equate to gain to you? Stability? What are you talking about?

 

Why don't you get your facts straight? When you have private banking interests who print money out of thin air, that only leads to increased inflation, which is why the dollar is worth so little now. You talk like the FED is a good thing when it was designed to rob the wealth from the nation, which it has successfully done.

Why don't you try reading some books that speak against the Federal Reserve, instead of all the government-authorized propaganda about how good it is? I recommend The Creature from Jekyl Island, by G. Edward Griffin.

 

Pepik talks about circular arguments, but he refuses to acknowledge the fact that the FED is made up of 13 privately-owned banks, who themselves supply the list of Board of Governors appointees to the President, who is also a puppet of these very same banking interests that put him into office. Pepik ignores this by saying it's all conspiracy theory when everyone with half a brain knows our politicians are all bought off and are working for the Elite who keep them in power. According to Pepik, there is no Elite and we should just all go back to sleep. Pepik thinks the government has power over the private banks that make up the FED, which I find to be absolutely hilarious. Then again, people like Pepik also believe that Bush is working for the best interests of the people of the world, so go figure.