Thanks for the reply Dandyone
One reason the Federal reserve was created was to keep politics OUT of the central bank while it was controlled by the Government.
The Federal Reserve isn't owned by anyone. The twelve regional banks ARE owned by US member banks who own non-transferable shares in them.
The US govenment also selects it highest level of employees and sets their salaries.
Currency is not printed by the Fed that is done by the US Treasury
Federal Banking Agency Audit Act enacted in 1978 as Public Law 95-320 and Section 31 USC 714 of US Code establish that the Federal Reserve is audited by the Government Accountability Office (GAO).
Soooo, not owned by greedy bankers. Most of the conspiracy directed at the Fed is by people with a poor or limited understanding of how fractional banking works. Many of the 'evil' associated to or applied to the Fed is actually the methodology of how fractional banking works.
Hans, I find it very comical when even in the face of the HUGE swindle that has taken place over the last years guys like you and your cohorts here defend this fraudulant scam. Your post is something I've been getting almost word for word for years from those who are delusionally, or complicitly supporting these thieves.
If you think that you and your pals are fooling ANYONE, especially me, you are sadly mistaken. What you posted is almost word for word off of the official federal reserve website, and they have been selling this crap to the blind masses for almost a century.
Here is a recent article that explains hat is really happening for those who care to know. The Fed is dead. It will be liquidated in a matter of months and you will feel like a fool for being one of its last supporters and defenders. If you are indeed unaware of this calamity and not a paid operative, it would serve you well to read it and heed it. Thanks
http://www.globalresearch.ca/index.php?context=va&aid=10489
Not Private and Not for Profit?
"The Fed’s website insists that it is not a private corporation, is not operated for profit, and is not funded by Congress. But is that true? The Federal Reserve was set up in 1913 as a "lender of last resort" to backstop bank runs, (intentionally created by those who set it up and shoved it up our you know what) following a particularly bad bank panic in 1907. The Fed’s mandate was then and continues to keep the private banking system intact; and that means keeping intact the system’s most valuable asset, a monopoly on creating the national money supply. Except for coins, every dollar in circulation is now created privately as a debt to the Federal Reserve or the banking system it heads.4 The Fed’s website attempts to gloss over its role as chief defender and protector of this private banking club, but let’s take a closer look. The website states:
* "The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation’s central banking system, are organized much like 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."
Do some research on this subject and you will surly agree that the LEGAL CONSTITUTIONAL proposal depicted in my previous post would be far superior to the ponzi scheme we now have in place.