Exposing America's Federal Reserve System (Video)
Most Americans, if they have heard anything at all about the Federal Reserve, believe it is an agency of the United States Government. This is false. The Federal Reserve is not “owned” by anyone, it is a profit-making institution. It is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. Below you will see charts that break down the history of the Fed and it’s owners and shareholders back to the Federal Reserves Founding in 1913..
Before we get into the Federal Reserves chain of command that you will see below, I want to give you some history on the Feds monetary policy. Let’s start with the first and only audit of the Federal Reserve in it’s 100 year history. This is the victory that Ron Paul was responsible for, yet Mainstream Media covered it all up.
In a rare moment of bipartisanship, the House overwhelmingly passed a bill by Rep. Ron Paul (R-Texas) to audit the Federal Reserve.
The first ever GAO (Government Accountability Office) audit of the Federal Reserve was carried out due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate.
Ben Bernanke, Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage on July 21 2011.
What was revealed in the audit was startling:
The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows..
Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many many more including banks in Belgium of all places.
The following is the amount of stimulus that the Fed has injected into the economy since 2008, as you will notice, the Fed has to continually stimulate the economy more and more each year. You will be able to see that in 2012 the Federal Reserve committed to 85 Billion a month which is still flowing today. How can this be sustainable?
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November 25, 2008
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Fed unveils $800 billion plan to bolster lending, housing
With financial markets still not working smoothly two months after almost shutting down, the Federal Reserve unveils steps aimed at lowering borrowing costs for consumers and home buyers.
The central bank announces plans to purchase up to $100 billion in direct debt of Fannie Mae, Freddie Mac and the Federal Home Loan Banks, along with up to $500 billion of mortgage-backed securities backed by Fannie, Freddie and Ginnie Mae (the government-sponsored enterprises, also known as GSEs).
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March 18, 2009
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Federal Reserve to buy $300 billion in longer-term Treasury bonds
The Federal Reserve says it will buy $300 billion in longer-term Treasury bonds to help arrest a deepening slide in the U.S. economy, a surprise move that send stocks soaring and triggers violent moves in other markets. The Federal Reserve’s move signals it will boost the size of its balance sheet to more than $4 trillion.
Following the Fed decision, gold futures and U.S. stocks rally, while the dollar plunges against other major currencies. In the bond market, Treasury prices soar, sending yields plummeting by the largest amount since 1987.
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November 3, 2010
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Federal Reserve to buy $600 billion in bonds
The Federal Reserve pledges to start a controversial new $600 billion bond-buying spree to rescue the economy from its current doldrums. The FOMC says it will buy up to $600 billion in long-term Treasurys until the end of June 2011, including about $75 billion this month.
This is the second time the Fed engages in quantitative easing, as it snapped up $1.7 trillion in mostly housing-related assets between December 2008 and March 2010.
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September 21, 2011
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Federal Reserve moves to lower interest rates on consumer loans with a $400 billion debt-swap program
In a statement, the Fed says it will buy $400 billion of Treasury securities in the 6- to 30-year range and sell an equal amount of maturities of 3 years or less. The purchases to be completed by the end of June 2012. The Fed also announces a new plan to purchase agency mortgage-backed securities with proceeds of maturing securities. The Dow Jones Industrial Average closes down 283.82 points, or 2.5%, at 11,124.84.
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June 20, 2012
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Fed extends ‘Operation Twist’
The Fed says it will extend its holdings of long-term government bonds by $267 billion in another effort to bring down borrowing costs.
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September 13, 2012
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Fed to launch QE3 by buying mortgage securities
By an 11-to-1 vote, the Federal Reserve decides to launch a third round of open-ended bond purchases — so-called QE3 — saying it will buy $40 billion of agency mortgage-backed securities per month.
The Fed also says it will keep its so-called Operation Twist in place, which consists of swapping short-dated securities for longer-term securities, as well as reinvesting the proceeds of maturing securities.
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December 12, 2012
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Fed to buy more bonds as it sets jobless target
The Federal Reserve announces a fresh bond-buying program worth $45 billion per month of longer-term Treasurys in another effort to reduce what the central bank calls an “elevated” unemployment rate.
Without the action, the Fed purchases would have been reduced at year-end when an existing program to swap short-term debt for longer-term Treasurys is set to expire.
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January 14, 2013
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Bernanke downplays inflation risk of QE3
Federal Reserve Chairman Ben Bernanke plays down the fears of some more hawkish central bankers and investors that the Fed’s aggressive bond-buying program will lead to higher inflation. “I don’t believe significant inflation is going to be the result of any of this,” Bernanke says in a speech at the University of Michigan.
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May 22, 2013
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Bernanke tells Congress ‘step down’ in QE could come soon
Federal Reserve Chairman Ben Bernanke tells Congress that the U.S. central bank could slow down its asset purchase program in the next few months. U.S. stocks slide with the Dow Jones Industrial Average dropping 80.41 points, or 0.5%, to 15,307.17.
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June 19, 2013
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Bernanke says the central bank may scale back its bond purchases this year, depending on the economic outlook
Ben Bernanke says the Fed could begin to taper its purchase of bonds later this year, if the economy continues to improve as Fed officials expect. And the Fed could end the bond-buying completely sometime in the middle of next year, if everything goes well. The markets promptly sell off, as they did a few weeks ago when Bernanke first mentioned the possibility of a reduction in the $85 billion pace of bond purchases.
In an interview aired the day prior, President Barack Obama tells Charlie Rose that “Ben Bernanke’s a little bit like Bob Mueller, the head of the FBI, where he’s already stayed a lot longer than he wanted or he was supposed to.” Rumors about Bernanke’s career plans had already been swirling, but the President’s statement forces Fed watchers to start seriously considering a post-Bernanke era. Bernanke has served as chairman of the Fed since 2006, with his second term set to end on Jan. 31, 2014.
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September 18, 2013
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Fed decides not to taper
The Federal Reserve holds its asset purchase program steady, putting off any decision for tapering until later in the year in a decision that surprises markets. By a vote of 9-to-1, the Fed holds its bond-buying program at $85 billion, citing tighter financial conditions. S&P 500, Dow rise to record closing highs.
The history of QE shows that the Fed increases the amount of QE each year. This is unstainable!
As you will see in the next 2 videos, Ron Paul continues to ask for more transparency from the Federal Reserve. Then Dr Paul goes on to discuss Janet Yellen, Yellen will replace Ben Bernanke as chairman of the Federal Reserve in 2014. Yellen claims to have an appetite for transparency, can the American people believe her?
This Video is Janet Yellen explaining why she will continue to print more currency and why she opposes more transparency from the Fed. Janet Yellen will be Ben Bernanke on steriods. Will there ever be another audit of the Fed? It’s highly unlikey with the players on the Federal Reserve stage at this time.
Now onto the history of the Federal Reserve, it’s founders and it’s share holders. I have included the source of the information above each chart.
Chart 1Source: ** Federal Reserve Directors: A Study of Corporate and Banking Influence ** – - Published 1976 Chart 1 reveals the linear connection between the Rothschilds and the Bank of England, and the London banking houses which ultimately control the Federal Reserve Banks through their stockholdings of bank stock and their subsidiary firms in New York. The two principal Rothschild representatives in New York, J. P. Morgan Co., and Kuhn, Loeb & Co. were the firms which set up the Jekyll Island Conference at which the Federal Reserve Act was drafted, who directed the subsequent successful campaign to have the plan enacted into law by Congress, and who purchased the controlling amounts of stock in the Federal Reserve Bank of New York in 1914. These firms had their principal officers appointed to the Federal Reserve Board of Governors and the Federal Advisory Council in 1914. In 1914 a few families (blood or business related) owning controlling stock in existing banks (such as in New York City) caused those banks to purchase controlling shares in the Federal Reserve regional banks. Examination of the charts and text in the House Banking Committee Staff Report of August, 1976 and the current stockholders list of the 12 regional Federal Reserve Banks show this same family control. N.M. Rothschild , London - Bank of England
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| J. Henry Schroder
| Banking | Corp.
| |
Brown, Shipley - Morgan Grenfell - Lazard - |
& Company & Company Brothers |
| | | |
--------------------| -------| | |
| | | | | |
Alex Brown - Brown Bros. - Lord Mantagu - Morgan et Cie -- Lazard ---|
& Son | Harriman Norman | Paris Bros |
| | / | N.Y. |
| | | | | |
| Governor, Bank | J.P. Morgan Co -- Lazard ---|
| of England / N.Y. Morgan Freres |
| 1924-1938 / Guaranty Co. Paris |
| / Morgan Stanley Co. | /
| / | Schroder Bank
| / | Hamburg/Berlin
| / Drexel & Company /
| / Philadelphia /
| / /
| / Lord Airlie
| / /
| / M. M. Warburg Chmn J. Henry Schroder
| | Hamburg --------- marr. Virginia F. Ryan
| | | grand-daughter of Otto
| | | Kahn of Kuhn Loeb Co.
| | |
| | |
Lehman Brothers N.Y -------------- Kuhn Loeb Co. N. Y.
| | --------------------------
| | | |
| | | |
Lehman Brothers - Mont. Alabama Solomon Loeb Abraham Kuhn
| | __|______________________|_________
Lehman-Stern, New Orleans Jacob Schiff/Theresa Loeb Nina Loeb/Paul Warburg
- ------------------------- | | |
| | Mortimer Schiff James Paul Warburg
_____________|_______________/ |
| | | | |
Mayer Lehman | Emmanuel Lehman
| | |
Herbert Lehman Irving Lehman
| | |
Arthur Lehman Phillip Lehman John Schiff/Edith Brevoort Baker
/ | Present Chairman Lehman Bros
/ Robert Owen Lehman Kuhn Loeb - Granddaughter of
/ | George F. Baker
| / |
| / |
| / Lehman Bros Kuhn Loeb (1980)
| / |
| / Thomas Fortune Ryan
| | |
| | |
Federal Reserve Bank Of New York |
|||||||| |
______National City Bank N. Y. |
| | |
| National Bank of Commerce N.Y ---|
| |
| Hanover National Bank N.Y.
| |
| Chase National Bank N.Y.
| |
| |
Shareholders - National City Bank - N.Y. |
- ----------------------------------------- |
| /
James Stillman /
Elsie m. William Rockefeller /
Isabel m. Percy Rockefeller /
William Rockefeller Shareholders - National Bank of Commerce N. Y.
J. P. Morgan -----------------------------------------------
M.T. Pyne Equitable Life - J.P. Morgan
Percy Pyne Mutual Life - J.P. Morgan
J.W. Sterling H.P. Davison - J. P. Morgan
NY Trust/NY Edison Mary W. Harriman
Shearman & Sterling A.D. Jiullard - North British Merc. Insurance
| Jacob Schiff
| Thomas F. Ryan
| Paul Warburg
| Levi P. Morton - Guaranty Trust - J. P. Morgan
|
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Shareholders - First National Bank of N.Y.
- -------------------------------------------
J.P. Morgan
George F. Baker
George F. Baker Jr.
Edith Brevoort Baker
US Congress - 1946-64
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|
|
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Shareholders - Hanover National Bank N.Y.
- ------------------------------------------
James Stillman
William Rockefeller
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|
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Shareholders - Chase National Bank N.Y.
- ---------------------------------------
George F. Baker
Chart 2Source: ** Federal Reserve Directors: A Study of Corporate and Banking Influence ** – - Published 1983 The J. Henry Schroder Banking Company chart encompasses the entire history of the twentieth century, embracing as it does the program (Belgium Relief Commission) which provisioned Germany from 1915-1918 and dissuaded Germany from seeking peace in 1916; financing Hitler in 1933 so as to make a Second World War possible; backing the Presidential campaign of Herbert Hoover ; and even at the present time, having two of its major executives of its subsidiary firm, Bechtel Corporation serving as Secretary of Defense and Secretary of State in the Reagan Administration. The head of the Bank of England since 1973, Sir Gordon Richardson, Governor of the Bank of England (controlled by the House of Rothschild) was chairman of J. Henry Schroder Wagg and Company of London from 1963-72, and director of J. Henry Schroder, New York and Schroder Banking Corporation, New York, as well as Lloyd’s Bank of London, and Rolls Royce. He maintains a residence on Sutton Place in New York City, and as head of “The London Connection,” can be said to be the single most influential banker in the world. J. Henry Schroder
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|
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Baron Rudolph Von Schroder
Hamburg - 1858 - 1934
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|
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Baron Bruno Von Schroder
Hamburg - 1867 - 1940
F. C. Tiarks |
1874-1952 |
| |
marr. Emma Franziska |
(Hamburg) Helmut B. Schroder
J. Henry Schroder 1902 |
Dir. Bank of England |
Dir. Anglo-Iranian |
Oil Company J. Henry Schroder Banking Company N.Y.
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|
J. Henry Schroder Trust Company N.Y.
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|
|
___________________|____________________
| |
Allen Dulles John Foster Dulles
Sullivan & Cromwell Sullivan & Cromwell
Director - CIA U. S. Secretary of State
Rockefeller Foundation
Prentiss Gray
------------
Belgian Relief Comm. Lord Airlie
Chief Marine Transportation -----------
US Food Administration WW I Chairman; Virgina Fortune
Manati Sugar Co. American & Ryan daughter of Otto Kahn
British Continental Corp. of Kuhn,Loeb Co.
| |
| |
M. E. Rionda |
------------ |
Pres. Cuba Cane Sugar Co. |
Manati Sugar Co. many other |
sugar companies. _______|
| |
| |
G. A. Zabriskie |
--------------- | Emile Francoui
Chmn U.S. Sugar Equalization | --------------
Board 1917-18; Pres Empire | Belgian Relief Comm. Kai
Biscuit Co., Columbia Baking | Ping Coal Mines, Tientsin
Co. , Southern Baking Co. | Railroad,Congo Copper, La
| Banque Nationale de Belgique
Suite 2000 42 Broadway | N. Y |
__________________________|___________________________|
| | |
| | |
Edgar Richard Julius H. Barnes Herbert Hoover
------------- ---------------- --------------
Belgium Relief Comm Belgium Relief Comm Chmn Belgium Relief Com
Amer Relief Comm Pres Grain Corp. U.S. Food Admin
U.S. Food Admin U.S. Food Admin Sec of Commerce 1924-28
1918-24, Hazeltine Corp. 1917-18, C.B Pitney Kaiping Coal Mines
| Bowes Corp, Manati Congo Copper, President
| Sugar Corp. U.S. 1928-32
|
|
|
John Lowery Simpson
- -------------------
Sacramento,Calif Belgium Relief |
Comm. U. S. Food Administration Baron Kurt Von Schroder
Prentiss Gray Co. J. Henry Schroder -----------------------
Trust, Schroder-Rockefeller, Chmn Schroder Banking Corp. J.H. Stein
Fin Comm, Bechtel International Bankhaus (Hitler's personal bank
Co. Bechtel Co. (Casper Weinberger account) served on board of all
Sec of Defense, George P. Schultz German subsidiaries of ITT . Bank
Sec of State (Reagan Admin). for International Settlements,
| SS Senior Group Leader,Himmler's
| Circle of Friends (Nazi Fund),
| Deutsche Reichsbank,president
|
|
Schroder-Rockefeller & Co. , N.Y.
- ---------------------------------
Avery Rockefeller, J. Henry Schroder
Banking Corp., Bechtel Co., Bechtel
International Co. , Canadian Bechtel
Company. |
|
|
|
Gordon Richardson
-----------------
Governor, Bank of England
1973-PRESENT C.B. of J. Henry Schroder N.Y.
Schroder Banking Co., New York, Lloyds Bank
Rolls Royce
Chart 3Source: ** Federal Reserve Directors: A Study of Corporate and Banking Influence ** – - Published 1976 The David Rockefeller chart shows the link between the Federal Reserve Bank of New York, Standard Oil of Indiana, General Motors and Allied Chemical Corportion (Eugene Meyer family) and Equitable Life (J. P. Morgan). DAVID ROCKEFELLER
- ----------------------------
Chairman of the Board
Chase Manhattan Corp
|
|
______|_______________________
Chase Manhattan Corp. |
Officer & Director Interlocks|---------------------
------|----------------------- |
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Private Investment Co. for America Allied Chemicals Corp.
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Firestone Tire & Rubber Company General Motors
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Orion Multinational Services Ltd. Rockefeller Family & Associates
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ASARCO. Inc Chrysler Corp.
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Southern Peru Copper Corp. Intl' Basic Economy Corp.
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Industrial Minerva Mexico S.A. R.H. Macy & Co.
| |
Continental Corp. Selected Risk Investments S.A.
| |
Honeywell Inc. Omega Fund, Inc.
| |
Northwest Airlines, Inc. Squibb Corporation
| |
Northwestern Bell Telephone Co. Olin Foundation
| |
Minnesota Mining & Mfg Co (3M) Mutual Benefit Life Ins. Co. of NJ
| |
American Express Co. AT & T
| |
Hewlett Packard Pacific Northwestern Bell Co.
| |
FMC Corporation BeachviLime Ltd.
| |
Utah Intl' Inc. Eveleth Expansion Company
| |
Exxon Corporation Fidelity Union Bancorporation
| |
International Nickel/Canada Cypress Woods Corporation
| |
Federated Capital Corporation Intl' Minerals & Chemical Corp.
| |
Equitable Life Assurance Soc U.S. Burlington Industries
| |
Federated Dept Stores Wachovia Corporation
| |
General Electric Jefferson Pilot Corporation
| |
Scott Paper Co. R. J. Reynolds Industries Inc.
| |
American Petroleum Institute United States Steel Corp.
| |
Richardson Merril Inc. Metropolitan Life Insurance Co.
| |
May Department Stores Co. Norton-Simon Inc.
| |
Sperry Rand Corporation Stone-Webster Inc.
| |
San Salvador Development Company Standard Oil of Indiana
Chart 4** Federal Reserve Directors: A Study of Corporate and Banking Influence ** – - Published 1976 This chart shows the interlocks between the Federal Reserve Bank of New York J. Henry Schroder Banking Corp., J. Henry Schroder Trust Co., Rockefeller Center, Inc., Equitable Life Assurance Society ( J.P. Morgan), and the Federal Reserve Bank of Boston. Alan Pifer, President
Carnegie Corporation
of New York
- ----------------------
|
|
- ----------------------
Carnegie Corporation
Trustee Interlocks --------------------------
---------------------- |
| |
Rockefeller Center, Inc J. Henry Schroder Trust Company
| |
The Cabot Corporation Paul Revere Investors, Inc.
| |
Federal Reserve Bank of Boston Qualpeco, Inc.
|
Owens Corning Fiberglas
|
New England Telephone Co.
|
Fisher Scientific Company
|
Mellon National Corporation
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Equitable Life Assurance Society
|
Twentieth Century Fox Corporation
|
J. Henry Schroder Banking Corporation
Chart 5Source: ** Federal Reserve Directors: A Study of Corporate and Banking Influence ** – - Published 1976 This chart shows the link between the Federal Reserve Bank of New York, Brown Brothers Harriman,Sun Life Assurance Co. (N.M. Rothschild and Sons), and the Rockefeller Foundation. Maurice F. Granville
Chairman of The Board
Texaco Incorporated
- ----------------------
|
|
Texaco Officer & Director Interlocks ---------- Liggett & Myers, Inc.
- ------------------------------------ |
| |
| |
L Arabian American Oil Company St John d'el Ray Mining Co. Ltd.
O | |
N Brown Brothers Harriman & Co. National Steel Corporation
D | |
O Brown Harriman & Intl' Banks Ltd. Massey-Ferguson Ltd.
N | |
American Express Mutual Life Insurance Co.
| |
N. American Express Intl' Banking Corp. Mass Mutual Income Investors Inc.
M. | |
Anaconda United Services Life Ins. Co.
R | |
O Rockefeller Foundation Fairchild Industries
T | |
H Owens-Corning Fiberglas Blount, Inc.
S | |
C National City Bank (Cleveland) William Wrigley Jr. Co
H | |
I Sun Life Assurance Co. National Blvd. Bank of Chicago
L | |
D General Reinsurance Lykes Youngstown Corporation
| |
General Electric (NBC) Inmount Corporation
** Source: Federal Reserve Directors: A Study of Corporate and Banking Influence. Staff Report,Committee on Banking,Currency and Housing, House of Representatives, 94th Congress, 2nd Session, August 1976. Now ask yourself why would the founders and share holders of the Federal Reserve should care about what happens to the American people? They are a for profit entity, like any business, profits come first. Below are 10 more reasons to end the Federal Reserve.[Click here to see a PDF version of this report.] 1. The Federal Reserve Has Far Too Much Power to Control Our Economy Federal Reserve Chairman Ben Bernanke has the power to dramatically impact our economy at a drop of the hat. The central bank completely controls and determines the money supply. It is permitted to create as much money as it wants out of thin air with no restrictions. This is the antithetical to the principles that America was founded on. Our Founding Fathers would be outraged that one centralized institution has unchecked and unprecedented power to control the economy and thus our lives. 2. The Federal Reserve Has Significantly Devalued Our Currency The laws of supply and demand apply to money. The more dollars we have in the circulation, the less the currency is worth. Our money supply has rapidly increased over the past century due to the Federal Reserve printing massive amounts of money like there is no tomorrow. This is what will almost inevitably happen when a quasi-governmental entity can simply print more money to its heart’s content. Since the Federal Reserve came into existence in 1913, the dollar has lost over 95 percent of its value. Today’s dollar is worth less than a nickel compared to the pre-1913 dollar. 3. The Federal Reserve Hurts the Poor and Middle Class the Most Our hard-earned money is essentially stolen through a hidden inflation tax. Inflation is the increase in the supply of money and credit. It is often wrongly defined as the general rise in the price of goods and services. But higher prices are actually a direct consequence of inflation since increasing the supply of money decreases the purchasing power of the dollar. Inflation hurts the poor most since they have less disposable income. Consumers with low disposable incomes will be negatively impacted by higher prices for food and clothing. 4. The Federal Reserve is Run By Unelected and Unaccountable Bureaucrats The Board of Governors at the Federal Reserve are not directly elected by the American people. This means that those who run the Federal Reserve are unaccountable to the people. The seven members of the Board ultimately decide the price or purchasing power of our money. That kind of central planning would never exist in a true free market economy. 5. The Federal Reserve Has Made Our Economy Less Stable The Federal Reserve has brought us endless boom-and-bust cycles. The U.S. economy was much more stable before the Federal Reserve came into existence. It bears significant responsibility for every financial crisis over the past century including the Great Depression, the stagflation of the 1970s and recent economic meltdown. The Austrian Business Cycle Theory explains why we see such wide fluctuations in the economy. The theory states that a false boom occurs when the Federal Reserve lowers interest rates below the market rate which increases the supply of money. Artificially low credit cost sends out misleading economic signals to producers. They are inclined to respond by greatly expanding their production around the same time. In retrospect, these investment decisions called malinvestments are seen as a bad allocation of resources. Malinvestments will lead to wasted capital and economic losses. The expansion of credit cannot continue permanently which means that inevitable bust will follow a false boom created by the Federal Reserve. 6. The Federal Reserve is Far Too Secretive The central bank severely lacks transparency. Throughout its 100-year history, it has always operated under a veil of secrecy. The Federal Reserve has never been fully audited by any outside source. Our elected representatives in Congress have very little oversight over the central bank. It has continually resisted any kind of congressional oversight claiming that it would endanger its “independence.” A comprehensive audit of the Federal Reserve would not harm its so-called independence. It would only expose how the Federal Reserve has been manipulating our currency behind closed doors. And Ben Bernanke surely doesn’t want that to happen. 7. The Federal Reserve Benefits Special Interests The policies of the Federal Reserve hurt the average American. It benefits the privileged few at the expense of the rest of us. The Federal Reserve erodes most Americans’ standard of living while enriching well-connected elites. The central bank serves big spending politicians, big bankers and their friends. Special interests receive access to money and credit before the harmful inflationary effects impact the entire economy. This is why high power lobbyists protect and defend the existence of the Federal Reserve. 8. The Federal Reserve is Unconstitutional The Constitution makes no mention of a central bank. While there have been historical debates on the constitutionality of a central bank, I see no justification for the argument that the Federal Reserve is constitutional. The federal government only has about thirty enumerated powers delegated to it in the Constitution. The power to create a central bank is not explicitly granted to the federal government in our founding document. Due to my strict interpretation of the Constitution, I find the Federal Reserve to clearly violate the Constitution. 9. The Federal Reserve Routinely Bails Out Big Banks The Federal Reserve acts as the lender of last resort. The Federal Reserve was ordered through a Freedom of Information Act request to release 28,000 pages of documents in March 2011. The documents exposed that one of the largest recipients of the Federal Reserve’s money was foreign banks during the 2008 economic meltdown. The top foreign banks that received money were the Brussells and Paris based Dexia SA, the Dublin based Depfa Bank Plc, the Bank of China and Arab Banking Corp., according to Campaign for Liberty. In July 2011, due to a provision under the misguided Dodd-Frank financial overhaul law, the Government Accountability Office (GAO) conducted a one-time, watered-down audit of the Federal Reserve. The GAO investigators were not allowed to view most of the Federal Reserve’s monetary policy decisions including discount window lending, open-market operations and details on its transactions with foreign governments and banks. This first ever audit of the Federal Reserve revealed $16 trillion in secret bailouts to corporations and banks around the world in less than three years. These bailouts happened without a single vote taking place in any chamber of Congress. 10. The Federal Reserve Encourages Deficit Spending The Federal Reserve is largely responsible for the out-of-control spending by Congress. The federal government can only obtain money through taxation, printing or borrowing money. Printing money has become the federal government’s preferred method. This is also the most destructive method since the federal government is able to simply print more money as needed to finance its drunken spending spree. It has become a never-ending cycle of spending and printing more money. Voters can put pressure on their representatives to halt politically unpopular tax hikes and lenders could stop loaning money to the U.S. government. But it’s fast and easy for the Federal Reserve to print more money at a whim. Conclusion.It’s time to end the Fed. The ability for America and the 50 states to create its own credit has largely been lost to private bankers. The lion’s share of new credit creation is done by private banks, so – instead of being able to itself create money without owing interest – the government owes unfathomable trillions in interest to private banks. America may have won the Revolutionary War, but it has since lost one of the main things it fought for: the freedom to create its own credit instead of having to beg for credit from private banks at a usurious cost. As economic writer and attorney Ellen Brown has tried to teach to Obama, and anyone else who will listen, the way out of the economic crisis is to stop paying interest to private banks for the creation of credit, and to return to the system of government-issued credit used by the Founding Fathers to create prosperity for the people and to gain independence from their oppressors.
Critical Reads: More News Mainstream Media Chooses To Ignore By Josey Wales, Click Here! |
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Check out this website: http://moneyfactory.gov. Notice the ‘.gov’ extension. On this website you can book a tour of the money factory – which by the way – is run by none other than the UNITED STATES GOVERNMENT under the authority of the ‘Bureau of Printing and Engraving’, which is authorized by the OCC (Office of the Controller of the Currency, http://occ.gov).
The U.S. Treasury owns and operates the presses that print all of those so-called ‘federal reserve notes’ that is owned by that ‘private’ bank. Just where do you think that ‘private’ bank gets all of that cash? Well, you know now, IT’S THE GOVERNMENT. The ‘fed’ is just the bank of congress, to print the money they need to spend as they wish. The POTUS appoints the fed chair, and CONGRESS approves this in the SENATE. So PLEASE do not tell the sheeple that the ‘fed’ is a private bank. It’s the GOVERNMENT’S PIGGY BANK.
It’s pretty obvious you did not even read this article – or you are a shill. Because – for one – the congressional record speaks for itself. For two – it’s all wrapped up in the United States Corporation (formed 1871) – rather than the republic. That’s why the pres is able to do the honorary “appointment.”
Supreme Court Justice Marshall Harlan (Downes v. Bidwell, 182, U.S. 244 1901) dissenting opinion: “Two national governments exist; one to be maintained under the Constitution, with all its restrictions; the other to be maintained by Congress outside and Independently of that Instrument.”
i don’t care what the occ website says – it’s a sleight of hand – and total disinformation to assist in covering the OBVIOUS.
Tell your handlers to fire you.
It is OWNED by the banksters, those who run the major banks, especially Goldman Sachs and JP Morgan!
The Federal Reserve is an eleemosynary institution; el·ee·mos·y·nar·y (l-ms-nr, l–)
adj.
1. Of, relating to, or dependent on charity.
2. Contributed as an act of charity; gratuitous. See Synonyms at benevolent.
[Medieval Latin elemosynrius, from Late Latin elemosyna, alms; see alms.]
1. of, concerned with, or dependent on charity
2. given as an act of charity
[from Church Latin eleēmosyna alms] Trust legislation: Hearings before the Committee on the judiciary …, Volume 1
By United States. Congress. House. Committee on the Judiciary, Henry De Lamar Clayton
http://books.google.com/books?pg=PA860&lpg=PA860&dq=eleemosynary+trust+%22federal+reserve%22&sig=UivUa5iGzAdRlLIC0OcZ7WKs7cM&ei=IHqoUo6SNKnf2AWnqYCYBw&id=1rAZAAAAYAAJ&ots=7HsJRMaMJH&output=text
The Chairman.The Chairman. It is not an eleemosynary institution?
Mr. Hunt. They are self-supporting entirely. I have heard people say, to whom I have described those banks, that they did not believe it possible that these directors were not connected with these banks because of the money they get out of it in some way or other. I can assure you, from my experience, that it is a fact that in the State of Connecticut, and I believe in New England generally and New York, the savings banks’ directors do not make anything from their connection with the banks.
The Chairman. Suppose that it is a good thing to exempt them from the operation of this proposed law forbidding interlocking directorates. What is your proposition as to how we should do that?
Mr. Hunt. Well, Mr. Paton, who will speak to you later, has a tentative draft of a bill, in which he has the following provision:
Provided, That nothing herein contained shall make ineligible the trustee of a mutual savings bank, not having capital stock, to become an officer or director or employee of a Federal reserve bank or other bank or trust company member thereof.
That would be a proviso inserted in the act to exempt mutual savings banks. In the bank with which I am connected there are two directors who are directors of one national bank, two others who are directors of another national bank and two more who are directors of a trust company in the town. I am one of them, and I would naturally give up my connection with the national bank, if I had to, in order to keep my connection with the savings bank, because that is the way I make my living. The other five directors, who are directors of national banks, would naturally give up their connection with the savings bank because their financial interest lies with the national bank. The result would be
Mr. Dyer (interposing). As I understand, the officers make nothing out of the savings banks?
Mr. Hunt. The directors. Of course the officers do. I am the managing officer of the bank and I get a salary.
Mr. Dyer. The managing officers get salaries, but the directors do not?
Mr. Hunt. That is right. Of course, the only persons who are making a living out of the bank are the employees—persons who are employed all the time in the bank.
Mr. Peterson. What are the business relations between your company and the national banks of which these gentlemen are directors?
Mr. Hunt. Of course, we cariy deposits in the national banks; we carry deposits in two national banks, but we do not happen to have a deposit in thetrust company. Our investments are regulated by law. We are permitted to invest in certain things.
Mr. Peterson. Then the directors of your company and the directors of the national banks do business with themselves?
Mr. Hunt. It might be called so to that extent. We have to carry a deposit somewhere.
Mr. Beall. I understood you to say that your mutual savings bank keeps deposits with two national banks?
Mr. Hunt. The one I am working with happens to do so.The Chairman. It is not an eleemosynary institution?
Mr. Hunt. They are self-supporting entirely. I have heard people say, to whom I have described those banks, that they did not believe it possible that these directors were not connected with these banks because of the money they get out of it in some way or other. I can assure you, from my experience, that it is a fact that in the State of Connecticut, and I believe in New England generally and New York, the savings banks’ directors do not make anything from their connection with the banks.
The Chairman. Suppose that it is a good thing to exempt them from the operation of this proposed law forbidding interlocking directorates. What is your proposition as to how we should do that?
Mr. Hunt. Well, Mr. Paton, who will speak to you later, has a tentative draft of a bill, in which he has the following provision:
Provided, That nothing herein contained shall make ineligible the trustee of a mutual savings bank, not having capital stock, to become an officer or director or employee of a Federal reserve bank or other bank or trust company member thereof.
That would be a proviso inserted in the act to exempt mutual savings banks. In the bank with which I am connected there are two directors who are directors of one national bank, two others who are directors of another national bank and two more who are directors of a trust company in the town. I am one of them, and I would naturally give up my connection with the national bank, if I had to, in order to keep my connection with the savings bank, because that is the way I make my living. The other five directors, who are directors of national banks, would naturally give up their connection with the savings bank because their financial interest lies with the national bank. The result would be
Mr. Dyer (interposing). As I understand, the officers make nothing out of the savings banks?
Mr. Hunt. The directors. Of course the officers do. I am the managing officer of the bank and I get a salary.
Mr. Dyer. The managing officers get salaries, but the directors do not?
Mr. Hunt. That is right. Of course, the only persons who are making a living out of the bank are the employees—persons who are employed all the time in the bank.
Mr. Peterson. What are the business relations between your company and the national banks of which these gentlemen are directors?
Mr. Hunt. Of course, we cariy deposits in the national banks; we carry deposits in two national banks, but we do not happen to have a deposit in thetrust company. Our investments are regulated by law. We are permitted to invest in certain things.
Mr. Peterson. Then the directors of your company and the directors of the national banks do business with themselves?
Mr. Hunt. It might be called so to that extent. We have to carry a deposit somewhere.
Mr. Beall. I understood you to say that your mutual savings bank keeps deposits with two national banks?
Mr. Hunt. The one I am working with happens to do so.The Chairman. It is not an eleemosynary institution?
Mr. Hunt. They are self-supporting entirely. I have heard people say, to whom I have described those banks, that they did not believe it possible that these directors were not connected with these banks because of the money they get out of it in some way or other. I can assure you, from my experience, that it is a fact that in the State of Connecticut, and I believe in New England generally and New York, the savings banks’ directors do not make anything from their connection with the banks.
The Chairman. Suppose that it is a good thing to exempt them from the operation of this proposed law forbidding interlocking directorates. What is your proposition as to how we should do that?
Mr. Hunt. Well, Mr. Paton, who will speak to you later, has a tentative draft of a bill, in which he has the following provision:
Provided, That nothing herein contained shall make ineligible the trustee of a mutual savings bank, not having capital stock, to become an officer or director or employee of a Federal reserve bank or other bank or trust company member thereof.
That would be a proviso inserted in the act to exempt mutual savings banks. In the bank with which I am connected there are two directors who are directors of one national bank, two others who are directors of another national bank and two more who are directors of a trust company in the town. I am one of them, and I would naturally give up my connection with the national bank, if I had to, in order to keep my connection with the savings bank, because that is the way I make my living. The other five directors, who are directors of national banks, would naturally give up their connection with the savings bank because their financial interest lies with the national bank. The result would be
Mr. Dyer (interposing). As I understand, the officers make nothing out of the savings banks?
Mr. Hunt. The directors. Of course the officers do. I am the managing officer of the bank and I get a salary.
Mr. Dyer. The managing officers get salaries, but the directors do not?
Mr. Hunt. That is right. Of course, the only persons who are making a living out of the bank are the employees—persons who are employed all the time in the bank.
Mr. Peterson. What are the business relations between your company and the national banks of which these gentlemen are directors?
Mr. Hunt. Of course, we cariy deposits in the national banks; we carry deposits in two national banks, but we do not happen to have a deposit in thetrust company. Our investments are regulated by law. We are permitted to invest in certain things.
Mr. Peterson. Then the directors of your company and the directors of the national banks do business with themselves?
Mr. Hunt. It might be called so to that extent. We have to carry a deposit somewhere.
Mr. Beall. I understood you to say that your mutual savings bank keeps deposits with two national banks?
Mr. Hunt. The one I am working with happens to do so.
http://geminiinvestmentsresearchgroup.wordpress.com/forms
http://web.archive.org/web/20050710090816/http://www.geocities.com/alabasters_archive/the_jewish_peril.html
http://www.imf.org/external/np/tr/2013/tr100913.htm
http://geology.com/state-map/pennsylvania.shtml
https://ia700506.us.archive.org/3/items/TheSabbatean-frankistMessianicConspiracyPartiallyExposed/TheSabbatean-frankistMessianicConspiracyPartiallyExposed.pdf
http://kauilapele.wordpress.com/2013/04/06/message-of-3-28-13-from-east-coast-whoever-and-wherever-he-may-be-mp3s/
http://www.toxic-black-mold-syndrome.com/
https://ia700506.us.archive.org/3/items/TheSabbatean-frankistMessianicConspiracyPartiallyExposed/TheSabbatean-frankistMessianicConspiracyPartiallyExposed.pdf
The Law of Charitable Trusts: With the Statutes, and the Orders, Regulations …
By Owen Davies Tudor
http://books.google.com/books?id=nnwzAAAAIAAJ&pg=PA135&lpg=PA135&dq=lord+hardwicke+green+vs+rutherford&source=bl&ots=lj1u9ptOtD&sig=iGq5-lV9-rqXPzFdQdjPSAx2fxU&hl=en&sa=X&ei=Vn2jUtSJHMe-2gXDwoHQCA&ved=0CFMQ6AEwCA#v=onepage&q=lord%20hardwicke%20green%20vs%20rutherford&f=false
Equity: Devoted to Improved Processes of Self-government, Volume 7, Issue 5
http://books.google.com/books?id=9PozAQAAMAAJ&pg=PA113&dq=pure+equity+trust,rockefeller&hl=en&sa=X&ei=AzmjUrnYB4n02QW5o4GoCw&ved=0CEsQ6AEwAQ#v=onepage&q=pure%20equity%20trust%2Crockefeller&f=false
Papers … Also the Results of the Statistical Enquiries of the …, Volume 2
By Central Society of Education (London, England)
http://books.google.com/books?pg=PA15&dq=Eleemosynary+Trust&ei=f3mjUu22GoaW3AWXuIDQAw&id=PH5OAAAAMAAJ&output=text++++++++++++++++++++++++++++++++++#v=onepage&q=Eleemosynary%20Trust&f=false
http://opengov.ideascale.com/a/dtd/3648-4049http://opengov.ideascale.com/akira/dtd/3648-4049
Yet you all act as powerless subjects to this scum.
Get Rid of them as soon as possible.
What’s wrong with you?
Would you not rid one invading your home?
They invaded your life, liberty and pursuit of ‘whatever’ you value.
You don’t believe another could respect you if you don’t respect yourselves, your families?
“..Most investors now believe three things about the Federal Reserve, money and interest rates. They think that the Federal Reserve is artificially depressing rates below what would be a “normal” level. They believe that in the process of doing so the Federal Reserve has enormously increased the supply of money and they believe that the USA is on a fiat money system.
All three of those beliefs are incorrect. One benchmark rate that the Federal Reserve has absolute control of is the rate paid on reserves deposited at the Federal Reserve. That rate is now 25 basis points, after being zero since the inception of the Federal Reserve in 1913 until recently. If the Federal Reserve had left that rate at zero t-bill rates would now be even lower than they are now. The shortest t-bills rates would now be probably negative.
Paying interest on reserves combined with the subsidy to the banks of providing free unlimited deposit insurance on non-interest bearing demand deposits is keeping t-bill rates positive. Absent those policies the rate on t-bills would be actually negative. The Chinese and others all over the world are willing to pay anything for the safety of depositing funds in the USA. Already, Bank of New York Mellon Corp. has imposed a 0.13% charge on large deposits.
An investor who believes that interest rates are headed up may respond that the rate paid on reserves is a special case and that the vast increase in the money supply resulting from the quantitative easing must result in higher rates when the Federal Reserve reverses its course. The problem with that view is that the true effective money supply is still far below its 2007 level.
Money is what can be used to buy things. Historically money has first been specie (gold and silver coins), then fiat money which is paper currency and checking accounts (M1) and more recently credit money. The credit money supply is what in aggregate can be bought on credit. Two hundred years ago your ability to take your friends out to dinner depended on whether or not you had enough coins (specie) in your pocket. One hundred years ago it depended on the quantity of currency in your pocket and possibly the balance in your checking account if the restaurant would take checks.
Today it is mostly your credit card that allows you to spend. We no longer have a fiat money system. Today we have a credit money system. Just because there is still some fiat money does not negate the fact that we are on a credit money system. When we were on a basically fiat money system there was still a small amount of specie in circulation. Even today a five cent piece contains about 5 cents worth of metal, but no one would claim we are still on a specie money system.
Fiat money is easy to measure; M1 was $1.376 trillion in 2007 and was $2.535 trillion in May 2013. The effective money supply is the sum of fiat money and credit money. Credit money cannot be precisely measured. However, When the person in California whose occupation was strawberry picker and who had made $14,000 in his best year was able to get a mortgage of $740,000 with no money down and private equity could buy a company like Clear Channel in a $20 billion leveraged buyout, also with essentially no money down, the credit money supply was clearly much higher than today. A reasonable ballpark estimate of the credit money supply is that it was $70 trillion in 2007 compared to $50 trillion today.
The effective money supply is the sum of the traditional fiat money aggregates plus the credit money supply. Thus, despite the clams of Ron Paul and Rick Perry to the contrary, the effective or true money supply has fallen drastically over the last few years…”
http://seekingalpha.com/article/1514632