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FederalReserve.gov: Who owns the Federal Reserve?

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FrankRep

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http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm#5


Who owns the Federal Reserve?

The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.

As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by 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 Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."

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.
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Why did Congress want the Federal Reserve to be relatively independent?

The intent of Congress in shaping the Federal Reserve Act was to keep politics out of monetary policy. The System is independent of other branches and agencies of government. It is self-financed and therefore is not subject to the congressional budgetary process.
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I hear from other sources that the Federal Reserve is privately owned and isn't apart of the government and no more "Federal" than Federal Express.

Is FederalReserve.gov lying?
 
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I think the best way to understand it, is on PAPER; in theory the federal reserve answers to the govt, but in practice they answer to nobody.

I would agree that it is a private company like Federal Express. In court it has been determined to be private.
 
another thing that is potentially misleading is the statement about "profit"....they don't bother to tell anyone how that works with them incurring "operating costs".....and they to my knowledge are not independently audited and Congress is blind to how the cost/expense is actually wrought.

It would be real real interesting to see ALL the details of the actual accounting and "follow the money".
 
Therefore, the Federal Reserve can be more accurately described as "independent within the government."
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Like an unwelcome inhabitant of the human body is usually labled as cancer.


...

The Reserve Banks are not operated for profit, ...
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:confused:
They must be joking.

The people who get the newly printet dollar first get the profit, which is a defacto theft of the value of paid work. Therefore the above quote is a lie, deliberate or not.

The federal reserve is operated for profit, and it gets its profit from the healthy parts of the society. - Exactly like the cancer gets the energy to grow from the body.
 
The Federal Reserve System is a hybrid that is both private and public. As the link you provided explains in part, the reserve banks are private. The Federal Reserve Board here in DC is the public part of it. The Fed member banks are public; the principle shareholders are the money center banks--the owners of the money center banks are the shareholders of those institutions (which are probably mostly mutual funds). There is no mystery or secrecy here.

By custom, and established because of funding levels of contributors, the US names the head of the World Bank and the Europeans name the head of the IMF. (we should be out of both)
 
if the Fed is not for profit, then the interest they stack on to the dollar is able to be forgiven. So why not retroactively forgive the debt to the American people and let the 9 trillion be reduced?
 
Also . . . why does Bush get to appoint who leads the 'World Bank'???
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There's a "gentlemen's agreement" that US appoints the head of the World Bank and Europe appoints the head of the IMF.
 
So then who are all of the stock holders/owners/contributors to the FED? Are you saying there is nobody else. Only the US Government? Are you saying that "the" DVD is a load of crock? And we've all fallen for BS?

Really, I want to know. I want to know who is loaning fiat money to the gov.. Have I been mislead? Is it actually OUR own government printing the money and loaning it to itself?

Then where did the Rockafeller and Morgan scare rhetoric come from. Did they have nothing to do with it? Did any of the other folks mentioned in "that" DVD also have nothing to do with it? And what about "the Creature from jeckyl island" is that book a load of bull too?

I don't want to be mislead or be accused of misleading others. I'm still a neophyte in the world of all this Fed talk.

Please help.

TruckinMike

NEVER MIND ... you just answered my questions. I've been mislead.
 
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fed400001an5.jpg
 
Mike Mitrosky said:
I think the best way to understand it, is on PAPER; in theory the federal reserve answers to the govt, but in practice they answer to nobody.

I would agree that it is a private company like Federal Express. In court it has been determined to be private.
Click to expand...


Yes!


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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The stock is not public. Stock is issued only to member banks. That's a private function. Congress does not fund the operation of the banks with our taxes. That's a private function.

These banks collect interest on the National debt, money they loan to the U.S. government, which they are allowed to print from out of thin air. Sounds like legalized counterfieting to me and the greatest legalized , privatized money making scam EVER!

If the banks are not operated for profit, how can there be dividend to pay out? That is what a dividend is, profit shared to stock holders.

I'll happily take 6% dividends on the interest acruing of our national debt now running around 1.8 trillion dollars, split up between 12 parties.

To put this into perspective, my calculater can not do math that high to figure out what the 6% dividend, on the interest collected yearly for a loan that high is.

They are private and for profit any way you look at it. They make ridiculous amounts of money, from being granted legal permission to counterfiet money, loan it to the government and then collect interest on it.

Government sites on the Federal Reserve are an equilivent form of misleading propaganda to that of their SPP web-site on the North American Union.

More then 12 regional banks, Chase Manhatten owned by the Rockefellers included in the Regional, make up the federal reserve Banking system. I beleive there are now 32 of them, the other being International banks found in Europe and Asia. Did the government web-site even mention those 20 other banks?

I agree that their 6% dividends are paultry compared to what they make off of hedge funds.

Imagine being a part of a private group, that can effect the value of the Dollar, Yen and Euro. Imagine being able to have that insider information on when which is going up and down, and trading it with that privately held insider information. You can not loose, yet you reap unfamothable amounts of wealth with this insider knowledge.

Not only is the Federal Reserve banking system a form of legalized counterfieting for profit, it is also a form of a legalized hedge fund insider trading.

This scam of legalized trading with hedge funds is what Alan Greenspan has called the Federal Reserves "dirty little secret", back in a 1968 newsletter he wrote.
 
The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.

As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms.
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I think those two parts I put in bold tell you about all you need to know. How can it be independent and STILL within the government?

If you want to learn all you need to know about this supposedly public/private institution, read G. Edward Griffin's 'The Creature From Jekyll Island'. It's one of the most fascinating books I've ever read and it will change forever the way you see your world.
 
The "not for profit" bullshit just means they pay no tax. Their profit is called "surplus" and is therefore code for, we screw you coming and going. The Zionists own the federal reserve.:D
 
There solution might not match our solution BUT it still explains the history of Central banking in the USA since 1776. Which is very important because it was never covered in HS or any ECO class I took in college. This is the THIRD central bank that is running our country the last one was killed by Andrew Jackson. He ran on the election moto vote for me & I will kill the bank! These facts have been erased from public life & the so called free press. So Money Masters is a great way to learn the history of central banking in the world. If we don't learn from the past, we are bound to repeat it.

Money Masters
Introduction

* The Problem
* The Money Changers
* Roman Empire
* The Goldsmiths of Medieval England
* Tally sticks
* The Bank of England

The Export of Private Central Banking to America

* The Rise of the Rothschilds
* The American Revolution
* The Bank of North America
* The Constitutional Convention
* First Bank of the U.S.
* Napoleon's Rise to Power
* Death of the First Bank of the United States
* War of 1812, Waterloo

Andrew Jackson Kills the Second Bank of the U.S.

* Second Bank of the U.S.
* Andrew Jackson
* Abe Lincoln and the Civil War
* The Return of the Gold Standard
* Free Silver
* J.P. Morgan / 1907 Crash

The Rise of the Federal Reserve Act of 1913

* Jekyll Island
* Federal Reserve Act
* J.P. Morgan / WWI
* Roaring 20s / Great Depression
* FDR / WWII / Fort Knox

Conclusion and Monetary Reform Act

* World Central Bank and Conclusions.
 
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