Business Insider On The FED

[SyphaxMember]

I remeber hearing a while ago that the FED has secret shareholders, and I came across this on businessinsider and was wondering if it is accurate, or if it isn’t the problem but rather something much worse.

http://www.businessinsider.com/economic-conspiracy-theories-2012-8?op=1

The Federal Reserve is a private corporation run for the profit of its shareholder banks.
“Origin: This one’s been kicking around almost since the creation of the Federal Reserve in 1913. It’s the subject of a three hour documentary called “The Money Masters”.

The reality: Nationally chartered banks do hold stock in their regional Federal Reserve Banks, and receive a small portion (6 percent of their stock) of the profits of their regional banks, which is presumably the origin of this theory.

That stock confers no control over the Regional bank’s activities.
Last year $1.6 billion in profit went to member banks. The remaining $46 billion was remanded to the Treasury department.

Further, monetary policy is conducted by two entirely different branches of the Federal Reserve System. The Board Of Governors oversees the Regional banks and monetary policy, and is made up of 7 members nominated by the President and confirmed by the Senate. They conduct monetary policy in the interest of the public by their Congressional mandate.

The closest influence the private shareholders have on the conduct of monetary policy is through their nomination of 6 of the 9 members of regional bank boards. Those boards nominate bank presidents, who must be confirmed by the Board of Governors. 5 regional presidents serve on the Federal Reserve Open Market Committee, which oversees the principal tool of monetary policy, in service of the Federal Reserve’s Congressional mandate, not regional shareholders.”

• This topic was modified 9 months ago by  Syphax.

[SilverHawkMember]

An Inside look at the way the TPTB’s ponzie scheme is run?  When did we cover this in Social Studies?  Oh yeah, same year we learned we came from monkeys.

[snowriderMember]

I suggest reading “The Creature from Jekyll Island” by G. Edward Griffin

 

[SumkidMember]

Even if it’s a private bank or not, it violates the Constitution. The Constitution gives the power to “…coin money and regulate the value thereof…” to Congress (See Article 1 Section 8 Clause 5) and not to the Federal Reserve which is why we should abolish it!

• This reply was modified 8 months, 4 weeks ago by  Sumkid.

[ich1baNMember]

Sumkid…

Don’t forget this part either:

“ and of foreign Coin, and fix the Standard of Weights and Measures; …”

That part about fixing the standard of Weights and Measures is absolutely crucial because people like the “Money Masters” producer Bill Still completely ignore this quote in the constitution which is a direct reference to precious metals and not some other form of fiat or illusionary Greenback from Abe Lincoln’s time.

Standard of Weights and Measures has been a reference to Gold and Silver as money since Biblical times and that is a major reason the Founding Fathers adopted this premise because of its incomparable precedence in history as REAL money that can not be manipulated when used at 100% reserve capital requirement rates.

[MaryBMember]

Business insider as a source??? lmao How right wing pro bank can you get. Lets spread the propaganda and try to pacify the masses.

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