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Federal Reserve Bank Admits AGAIN That It Is Not a Federal Agency
As we’ve reported for over 4 years, the Federal Reserve banks are private, not government agencies.
Indeed, the government admitted 86 years ago that the Fed banks are private. And the Fed has repeatedly reaffirmed this fact.
As Matt Stoller points out, they have just done so again … in the AIG trial. Specifically, government lawyers said:
Now, some of the documents … were not actually produced by the United States, they were produced by the Federal Reserve Bank of New York, which is a third party.

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The Fed has stock-holders to which it pays a fixed 6% dividend every year. Banksters that acquired stock prior to 1942 get this dividend completely tax free. Stock is determined by capital on deposit at the Fed. (Note that income for the Fed itself is always tax free!)
http://www.federalreserve.gov/aboutthefed/section7.htm
The "owners" of the Fed are the ~2,900 member banks that have reserve accounts, though ownership it not really the correct term. A member that withdraws from the Federal Reserve system forfeits all stock.
http://wallstreetonparade.com/2012/12/kill-this-entitlement-program-the-...
This dividend arrangement was created to attract participants in the early days. It has stuck ever since. Total dividend is currently about $1.7 billion per year, paid for by taxpayers (via TSY coupon payments).
By law, the Fed must remit profits to the US Treasury once per year but not before first paying the dividend and subtracting operating expenses (private jets, its own police force, etc). Remittance is currently around $80 billion per year.
http://www.newrepublic.com/article/116913/federal-reserve-dividends-most...
Next there is IOER that needs little introduction and constitutes one of those "expenses". Currently paying ~$50 billion to banks.
Next is the fact that when the Fed buys TSYs in OMO, it must by law do so using a Primary Dealer middleman. They, of course, gouge a "commission" and manipulate markets for a sweeter deal. Again, the taxpayer pays in the billions:
http://www.ustreasurymarket.com
Screw up by lending to some defaulters? Never mind, the offending bankster can just flip the shitty assets at par to the Fed in exchange for reserves that pay interest (no repo!!). The bankster can then take excess reserves (and borrow more at ~0% (thanks ZIRP)) to buy TSYs at a higher yield and pocket the spread.
Said TSYs can then be lent out in the repo market (the bankster still gets the coupons), posted as collateral for further leveraged borrowing to be used for whatever (also still gets the coupons), or just flipped to the Fed for a mandated profit.
If flipping to the Fed (OMO), that profit then goes into excess reserves and the cycle starts over. It's like a perpetual motion machine! Though if you know your physics, you know why such machines are impossible. There's always a hidden energy source somewhere and it's the sucker taxpayers.
Now for the privilege of risk-free profit without even having to lend a single dime, the banksters also get paid a dividend...
It's good to be the king. Why are you reading this peasant? Back to the pits with you.
Gore Vidal called them America's Royalty
That's the Goldman Sachs gang. And that is how they took over the United States of America. Tried to take over the world too but instead put 7 billion lives in danger. Arrest them.
So declare the fed unconstitutional, after they'soaked up every last bad mbs and "other" that they pomo, and make the treasury do the job.
Why it made me crack up, watching those idiots thank Bernanke for his SERVICE to his country !!!!!
Which country would that be then.....
The Fed and all banks are owned by the Illuminati. They sank the Titanic to ensure it was privatised. Google. On board were powerful American families, invited by JP Morgan, who owned the Titanic. Guess what? JP missed the sailing! The Illumimati are clutching at desperate straws, thanks to the Galactic Federation, numerous websites, in our skies right now. goldenageofgaia is but one. Spread the good word and hasten First Contact and Full Disclosure. Thanks be to God!
A Message from Mira of the Pleiadian High Council. Channelled by Valerie Donner. October 9, 2014. http://tinyurl.com/mgd25ua
Read this sitrep from the GF and your hearts will bound with Joy
Where do I sign up for the Federation?
Interesting theory but...
That was one of those defining moments in time where time can take the left path or the not left path.
I always wonder what might have happened on the alternate time line. It could of been worse or better and we'll never know.
It is not a theory, the facts are easily accessible. Just like 9/11. Only an extremely poweful organisation can maintain that monstrous lie. For 13 years. That would be the Illuminati. But their end is near. Thanks to the Galctic Federation; many websites where the Truth is revealed.
Do you know how silly you sound talking about the Galactic Federation? There is no one coming to save you. You have to help youself. I know, that sounds crazy to our victim society where a quick fix is all the rage. Don't get me wrong, I'm always in search of the truth as it sounds like you are. However, you need to improve your bullshit meter.
A Message from Mira of the Pleiadian High Council. Channelled by Valerie Donner. October 9, 2014. http://tinyurl.com/mgd25ua
Read this latest sitrep. The GF have absolutely no reason to lie about anything, unlike our corrupt govts. So poignantly pointed out.
If these are higher dimensional beings more advanced than us, do they really need our monetary donations?!
nationalize the Bank of England! oh, wait, done already, 1946
ok, then take a leaf from the book of the eurozone and discuss why the 12 regional FRBs can't each print a regional dollar. that discussion was alive in 1933, and was once briefly touched in a ZH article
but pause and reflect for a moment. what did the FED, lately, for Uncle Sam? It bought boatloads of it's debt. this saved the US from a lot of... embarassment
what I want to say is that the discussion about the FED being private or not is less important then the question about what it is doing. if it's private, would nationalization really change something? if yes, how? details matter
"It bought boatloads of it's debt. this saved the US from a lot of... embarassment"
Debt created out of thin air by the Fed!
I doubt it would make much difference. People overstate the significance of Central Banks as drivers of economies. It is the member banks that are far more important drivers of the business cycle, creating a demand-pull force on central bank policy rather than the other way around.
Central banks protect and serve members and react to economic situations, created all too often by their own members. They are almost always behind the curve.
Hence the actions of a publicly controlled central bank will be largely indistinguishable from the actions of a privately controlled central bank.
A (somewhat flawed) analogy I like to use is that the banking system is unionised. The Central Bank represents the management of the Banksters' Trade Union. Like any union, the interests of its members come first and the power of the union is not provided by the board, it is provided by the membership.
If the talk were of nationalising the entire banking system, then yes, pure Chartalism can occur, but if it's just the Union Leadership then nothing much changes.
There may be some cost savings though as I'll describe in another post.
The Fed was created by Congress and can be destroyed by Congress, or compelled to follow all procedures applicable to government agencies by Congress. Congress can subpoena all Fed records. In article I section 8 of the Constitution, Congress has the power "To coin money, regulate the value thereof and foreign coin." Congress gave their power to the Fed, but can take it back. Congress also gave the power to make regulations enforced by law to government agencies.
Trust by Congress in an independent Fed is a delusion, just as is the trust by the sheeple in government. The Fed is the government of our banking and currency by the unaccountable. Power corrupts. Unchecked power corrupts absolutely. Holding the office of Fed Chairman sanctifies neither a banker nor an economist.
Trust is a vice of the lazy.
Unfortunately, CONgress is now fully owned by the Fed.
They have to be, where else could they find a trillion a year at less than market rates.
FED and government is a marriage.
pods
"Trust is a vice of the lazy"
Well done sir! Words to live by...
The FED was created by the Illuminati, sanctioned by Congress who was, and still is, totally controlled by the Illuminati. But that grip is losening every day And every last one will be removed from our planet, by the Galactic Federation, at the behest of God. Let the good times roll!
Know your enemy.
The 12 regional Federal Reserve Banks (including FRB-New York) are private institutions owned by member banks in the districts. The FRB Board of Governors in DC is the "public" govenment entity that is comprised of 7 Governors appointed by the President + the presidents of the 12 regional banks. The FOMC is a subset of the Board of Governors and is the 7 appointees + 5 of 12 regional bank presidents on a rotating cycle. To the extent the regional banks do work on behalf of the Board of Governors, that could be considered "public" versus private. All of this is found on FRB websites and easy searches.
http://federalbudget.com/fed.html
why read a book when i can visit zh and get the info with fight club entertainment. thanks to all who contribute with intelligent posts...
"Secrets of the Temple" by William Greider, woke me up back in the late 80's. Time to read it again.
GREAT BOOK! I've been it recommending to friends (and others) for years.
I loaned it out to a few buds, none read it, said it was too long and boring.
Bored Sheep Go To Camp
Secrets of the Federal Reserve by Eustace Mullins is much shorter, more interesting, and a lot more informative.
I second Mullin's book. Scathing.
pods
This s/b short enough for your bovine buds
https://archive.org/details/TakeoverOfTheUsa-TheClubOfRomeChathamHouseAn...
https://archive.org/details/10ThingsThatEveryAmericanShouldKnowAboutThef...
If they can play PC games, they can get the interactive tv to read this to them
https://archive.org/details/TheSecretsOfTheFederalReserve
3rd party banking. Washington would've sacked the place by now you cowards!
Wake up people. If the president wanted to take control of our money he could do it. Many would cry fowl, but he has the army at his back, until congress acts (very slow). I would think, the Fed would cave before he had to go that far. But we know just who we have for a president (not FDR).
"If the president wanted to take control of our money he could do it."
As a reminder, JFK did try when he issued US Notes. He was dead a few months later.
JFK wanted to privatize the Fed because he knew it was strangling America with debt. Did he turn out to be right. or what!
How could he privatize a private corporation?
pods
+1,000,000
Jackson opposed the banking cartel as well. They sent in an amateur with a faulty gun.
Jackson did, JFK most certainly did not.
http://www.freedomforceinternational.org/freedomcontent.cfm?fuseaction=j...
JFK was not the hero you are looking for.
pods
Who said he was a hero?
Don't forget Lincoln
Thank you pods. I'm so tired of hearing what a savior JFK was. HE WASN'T!
In the world I live, it would be impossible for this to have have happened. I'm surrounded and protected by...well, not unicorns, but at least Rule of Law and the Constitution. Life is good, and I feel safe.
Then I wake up every morning into a nightmare of corruption and graft and lies. Time to go to work again.
"On December 23, 1913, the then US President Woodrow Wilson puts the final signature for the so-called Federal Reserve Act. Big private banks take control of the US money supply. Since then and for 100 years until now, we live in the bankster-domination era."
http://failedevolution.blogspot.gr/2013/12/december-23-2013-banksters-ce...
Wilson burns in HELL
stop the lies george just stop the hate on the FED, our schools teach that the FED is part of our government, so there just stop the hate...sarc.
Thanks for pointing out how early the brainwashing starts.
FED stocked USA ECON academia. Took me 20 years to shake it off. Thank GOD I did.
It would be funny if somebody actually Sued them and Won.. and they had to List their actual Owners, all the way up the Chain.. nah.. Quit Dreaming Joe..
The Fed is the only private central bank. Interesting.
It doesn't matter whether the Fed is, legally, part of the government or a third party, as policy for both is controlled by the same banking and corporate entities. Theoretically, if the government was actually responsive to its contituents, it would mean something but, uh...you know...