CounterRevolutionary wrote:
Anthony,
Once again, I print this information straight off the Federal Reserve's own GOVERNMENT website:
http://www.federalreserve.gov/faqs/about_14986.htm
Current FAQs
Who owns the Federal Reserve?
"The Federal Reserve System fulfills its public mission as an independent entity within government. IT IS NOT "OWNED" BY ANYONE AND IS NOT A PROVATE, PROFIT MAKING INSTITUTION.
As the nation's central bank, the Federal Reserve derives its authority from the Congress of the United States. 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.
However, the Federal Reserve is subject to oversight by the Congress, which often reviews the Federal Reserve's activities and can alter its responsibilities by statute. Therefore, the Federal Reserve can be more accurately described as "independent within the government" rather than "independent of government."
The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to 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.
Related Information
The Federal Reserve System: Purposes and Functions
Related Questions
What is the purpose of the Federal Reserve System?
What does it mean that the Federal Reserve is "independent within the government"?
Does the Federal Reserve ever get audited?
Is the Federal Reserve accountable to anyone?
How is the Federal Reserve System structured"
Concentrate. Release those labor union pieces of propaganda that you have been fed your entire life.
Concentrate. Free yourself from hatred of people who make an honest living and succeed
.
Concentrate. Imagine a time when America will restore free market capitalism and rid us of the NATIONAL Bank that is starving us out of the fruits of our labor.
Take a deep breath. There is hope. The Senate will pass Rand Paul's "Audit the Fed" bill.
Anthony, br Once again, I print this information s... (
show quote)
The Fed is the mechanism invented by Politicians long ago to allow the Federal government to spend money they don't have in order to buy votes by simply obligating taxpayers to more debt. The real problem is the United States cannot afford all the freebies with which it buys votes; we desperately need to get back to "buying" only what we can afford as a government. Think we ,as a nation, can afford Obamacare? Think we can afford to pay half the able bodied workers to not work? Think we are on the right track when more than half the nation is on food assistance? Free cell phones anyone? Govt paid plane trips to the US for illegal immigrant's families??
If we can just get back to a real free enterprise capitalistic system (as opposed to Crony capitalism with goodies for everyone) we can have the full employment where everyone is better off because of the increased production of goods and services.
First of all we need to get rid of the IRS as it is now constituted and go to a consumer tax (FAIR or National sales) and peg the percentage at whatever level we need in order to afford the "benefits" for the truly needy we think we can afford and to run the government without borrowing from the Fed. At least then we will know exactly how much we are being totally taxed.
Social Security was once a viable system, one that was sustained by the people who were to benefit from it. It should go back to that with the payroll deductions going into a trust used only for that purpose. Medicare the same. Then the payroll deductions and the benefits can be adjusted as needed to provide only what we can afford, no need for the Fed.
Our real problem is we are allowing the Federal government to use the Fed mechanism to continually run deficits routinely. The deficit is used by the politicians to stay in power and enrich themselves at the expense of the nations citizens. Ever wonder what amount of debt will ultimately be too much? and what happens then? The world is just now beginning to catch on and the "adjustments" will likely be painful.
We need to reform the Federal Government operations/spending, that would take care of the Fed problem.