One Political Plaza - Home of politics
Home Active Topics Newest Pictures Search Login Register ☰
Main
Debunking The Federal Reserve Conspiracies
Page 1 of 2 next>
Mar 30, 2022 10:40:56   #
slatten49 Loc: Lake Whitney, Texas
 
Taken from the Online Archive of the Old PublicEye.Org Website.

By: Edward Flaherty, Ph.D. Department of Economics College of Charleston, S.C.

Facts: Yes, the Federal Reserve banks are privately owned, but they are controlled by the publicly-appointed Board of Governors. The Federal Reserve banks merely execute the monetary policy choices made by the Board. In addition, nearly all the interest the Federal Reserve collects on government bonds is rebated to the Treasury each year, so the government does not pay any net interest to the Fed.

Facts: No foreigners own any part of the Fed. Each Federal Reserve bank is owned exclusively by the participating commercial banks and S&Ls operating within the Federal Reserve bank's district. Individuals and non-bank firms, be they foreign or domestic, are not permitted by law to own any shares of a Federal Reserve bank. Moreover, monetary policy is controlled by the publicly-appointed Board of Governors, not by the Federal Reserve banks.

Fact: Independent accounting firms conduct full financial audits of the Federal Reserve banks and the Board of Governors every year. The Fed is also subject to certain types of audits from the Government Accounting Office.

Facts: The Federal Reserve rebates its net earnings to the Treasury every year. Consequently, the interest the Treasury pays to the Fed is returned, so the money borrowed from the Fed has no net interest obligation for the Treasury. The government could print its own currency independent of the Fed, but there would be no effective safeguards against abuse of this power for political gain.

Facts: The Federal Reserve banks have only a small share of the total national debt (about 7%). Therefore, only a small share of the interest on the debt goes to the Fed. Regardless, the Fed rebates that interest to the Treasury every year, so the debt held by the Fed carries no net interest obligation for the government. In addition, it is Congress, not the Federal Reserve, who is responsible for the federal budget and the national debt.

Facts: Kennedy wrote E.O. 11,110 to phase out silver certificate currency, not to issue more of it. Records show Kennedy and the Federal Reserve were almost always in agreement on policy matters. He even signed legislation to give the Fed more authority to issue currency.

Facts: McFadden was incorrect regarding the Fed costing the government money. However, later economic analysis agrees with him that Federal Reserve policy blunders had a substantial role in causing the Depression. However, his implication that this was done deliberately has no basis in fact. Moreover, for a dozen years prior to his rant, McFadden had been the chairman of the House subcommittee that oversaw the Federal Reserve. Why didn't he do anything to reform or abolish the Fed while he had the chance?

Facts: The banking system is indeed able to create money with a mere computer keystroke. However, a bank's ability to create money is tied directly to the amount of reserves customers have deposited there. A bank must pay a competitive interest rate on those deposits to keep them from leaving to other banks. This interest expense alone is a substantial portion of a bank's operating costs and is de facto proof a bank cannot costlessly create money.

Fact: The term 'lawful money' does not refer to gold or silver coin, but to types of money which the government would permit banks to use when tabulating their reserves. These types of money included, but were not limited to, gold and silver coin.

BY: Edward Flaherty, Ph.D. Department of Economics College of Charleston, S.C.

Myth #1: The Federal Reserve Act of 1913 was crafted by Wall Street bankers and a few senators in a secret meeting.
Myth #2: The Federal Reserve Act never actually passed Congress. The Senate v**ed on the bill without a quorum, so the Act is null and void.
Myth# 3: The Federal Reserve Act and paper money are unconstitutional.
Myth# 4: The Federal Reserve is a privately owned bank.
Myth #5: The Federal Reserve is owned and controlled by foreigners.
Myth #6: The Federal Reserve has never been audited.
Myth #7: The Federal Reserve charges interest on the currency we use.
Myth #8: If it were not for the Federal Reserve charging the government interest, the budget would be balanced and we would have no national debt.
Myth #9: President Kennedy was assassinated because he tried to usurp the Federal Reserve's power. Executive Order 11,110 proves it.
Myth #10. The Legendary Tirade of Louis T. McFadden

Reply
Mar 30, 2022 11:16:48   #
Coos Bay Tom Loc: coos bay oregon
 
slatten49 wrote:
Taken from the Online Archive of the Old PublicEye.Org Website.

By: Edward Flaherty, Ph.D. Department of Economics College of Charleston, S.C.

Facts: Yes, the Federal Reserve banks are privately owned, but they are controlled by the publicly-appointed Board of Governors. The Federal Reserve banks merely execute the monetary policy choices made by the Board. In addition, nearly all the interest the Federal Reserve collects on government bonds is rebated to the Treasury each year, so the government does not pay any net interest to the Fed.

Facts: No foreigners own any part of the Fed. Each Federal Reserve bank is owned exclusively by the participating commercial banks and S&Ls operating within the Federal Reserve bank's district. Individuals and non-bank firms, be they foreign or domestic, are not permitted by law to own any shares of a Federal Reserve bank. Moreover, monetary policy is controlled by the publicly-appointed Board of Governors, not by the Federal Reserve banks.

Fact: Independent accounting firms conduct full financial audits of the Federal Reserve banks and the Board of Governors every year. The Fed is also subject to certain types of audits from the Government Accounting Office.

Facts: The Federal Reserve rebates its net earnings to the Treasury every year. Consequently, the interest the Treasury pays to the Fed is returned, so the money borrowed from the Fed has no net interest obligation for the Treasury. The government could print its own currency independent of the Fed, but there would be no effective safeguards against abuse of this power for political gain.

Facts: The Federal Reserve banks have only a small share of the total national debt (about 7%). Therefore, only a small share of the interest on the debt goes to the Fed. Regardless, the Fed rebates that interest to the Treasury every year, so the debt held by the Fed carries no net interest obligation for the government. In addition, it is Congress, not the Federal Reserve, who is responsible for the federal budget and the national debt.

Facts: Kennedy wrote E.O. 11,110 to phase out silver certificate currency, not to issue more of it. Records show Kennedy and the Federal Reserve were almost always in agreement on policy matters. He even signed legislation to give the Fed more authority to issue currency.

Facts: McFadden was incorrect regarding the Fed costing the government money. However, later economic analysis agrees with him that Federal Reserve policy blunders had a substantial role in causing the Depression. However, his implication that this was done deliberately has no basis in fact. Moreover, for a dozen years prior to his rant, McFadden had been the chairman of the House subcommittee that oversaw the Federal Reserve. Why didn't he do anything to reform or abolish the Fed while he had the chance?

Facts: The banking system is indeed able to create money with a mere computer keystroke. However, a bank's ability to create money is tied directly to the amount of reserves customers have deposited there. A bank must pay a competitive interest rate on those deposits to keep them from leaving to other banks. This interest expense alone is a substantial portion of a bank's operating costs and is de facto proof a bank cannot costlessly create money.

Fact: The term 'lawful money' does not refer to gold or silver coin, but to types of money which the government would permit banks to use when tabulating their reserves. These types of money included, but were not limited to, gold and silver coin.

BY: Edward Flaherty, Ph.D. Department of Economics College of Charleston, S.C.

Myth #1: The Federal Reserve Act of 1913 was crafted by Wall Street bankers and a few senators in a secret meeting.
Myth #2: The Federal Reserve Act never actually passed Congress. The Senate v**ed on the bill without a quorum, so the Act is null and void.
Myth# 3: The Federal Reserve Act and paper money are unconstitutional.
Myth# 4: The Federal Reserve is a privately owned bank.
Myth #5: The Federal Reserve is owned and controlled by foreigners.
Myth #6: The Federal Reserve has never been audited.
Myth #7: The Federal Reserve charges interest on the currency we use.
Myth #8: If it were not for the Federal Reserve charging the government interest, the budget would be balanced and we would have no national debt.
Myth #9: President Kennedy was assassinated because he tried to usurp the Federal Reserve's power. Executive Order 11,110 proves it.
Myth #10. The Legendary Tirade of Louis T. McFadden
Taken from the Online Archive of the Old PublicEye... (show quote)


Very good reading. Should knock the wind out of any conspiracy theories.

Reply
Mar 30, 2022 11:58:44   #
jack sequim wa Loc: Blanchard, Idaho
 
slatten49 wrote:
Taken from the Online Archive of the Old PublicEye.Org Website.

By: Edward Flaherty, Ph.D. Department of Economics College of Charleston, S.C.

Facts: Yes, the Federal Reserve banks are privately owned, but they are controlled by the publicly-appointed Board of Governors. The Federal Reserve banks merely execute the monetary policy choices made by the Board. In addition, nearly all the interest the Federal Reserve collects on government bonds is rebated to the Treasury each year, so the government does not pay any net interest to the Fed.

Facts: No foreigners own any part of the Fed. Each Federal Reserve bank is owned exclusively by the participating commercial banks and S&Ls operating within the Federal Reserve bank's district. Individuals and non-bank firms, be they foreign or domestic, are not permitted by law to own any shares of a Federal Reserve bank. Moreover, monetary policy is controlled by the publicly-appointed Board of Governors, not by the Federal Reserve banks.

Fact: Independent accounting firms conduct full financial audits of the Federal Reserve banks and the Board of Governors every year. The Fed is also subject to certain types of audits from the Government Accounting Office.

Facts: The Federal Reserve rebates its net earnings to the Treasury every year. Consequently, the interest the Treasury pays to the Fed is returned, so the money borrowed from the Fed has no net interest obligation for the Treasury. The government could print its own currency independent of the Fed, but there would be no effective safeguards against abuse of this power for political gain.

Facts: The Federal Reserve banks have only a small share of the total national debt (about 7%). Therefore, only a small share of the interest on the debt goes to the Fed. Regardless, the Fed rebates that interest to the Treasury every year, so the debt held by the Fed carries no net interest obligation for the government. In addition, it is Congress, not the Federal Reserve, who is responsible for the federal budget and the national debt.

Facts: Kennedy wrote E.O. 11,110 to phase out silver certificate currency, not to issue more of it. Records show Kennedy and the Federal Reserve were almost always in agreement on policy matters. He even signed legislation to give the Fed more authority to issue currency.

Facts: McFadden was incorrect regarding the Fed costing the government money. However, later economic analysis agrees with him that Federal Reserve policy blunders had a substantial role in causing the Depression. However, his implication that this was done deliberately has no basis in fact. Moreover, for a dozen years prior to his rant, McFadden had been the chairman of the House subcommittee that oversaw the Federal Reserve. Why didn't he do anything to reform or abolish the Fed while he had the chance?

Facts: The banking system is indeed able to create money with a mere computer keystroke. However, a bank's ability to create money is tied directly to the amount of reserves customers have deposited there. A bank must pay a competitive interest rate on those deposits to keep them from leaving to other banks. This interest expense alone is a substantial portion of a bank's operating costs and is de facto proof a bank cannot costlessly create money.

Fact: The term 'lawful money' does not refer to gold or silver coin, but to types of money which the government would permit banks to use when tabulating their reserves. These types of money included, but were not limited to, gold and silver coin.

BY: Edward Flaherty, Ph.D. Department of Economics College of Charleston, S.C.

Myth #1: The Federal Reserve Act of 1913 was crafted by Wall Street bankers and a few senators in a secret meeting.
Myth #2: The Federal Reserve Act never actually passed Congress. The Senate v**ed on the bill without a quorum, so the Act is null and void.
Myth# 3: The Federal Reserve Act and paper money are unconstitutional.
Myth# 4: The Federal Reserve is a privately owned bank.
Myth #5: The Federal Reserve is owned and controlled by foreigners.
Myth #6: The Federal Reserve has never been audited.
Myth #7: The Federal Reserve charges interest on the currency we use.
Myth #8: If it were not for the Federal Reserve charging the government interest, the budget would be balanced and we would have no national debt.
Myth #9: President Kennedy was assassinated because he tried to usurp the Federal Reserve's power. Executive Order 11,110 proves it.
Myth #10. The Legendary Tirade of Louis T. McFadden
Taken from the Online Archive of the Old PublicEye... (show quote)



No mention of the interest generated by. T-Bills or specifically the income generated to the federal reserve in uses of the "Petro Dollar " or T-Bill.

Reply
 
 
Mar 30, 2022 12:39:45   #
Sonny Magoo Loc: Where pot pie is boiled in a kettle
 
Coos Bay Tom wrote:
Very good reading. Should knock the wind out of any conspiracy theories.


Why is that?
Oh...because I just read it?
..and Jekyll Island meeting never happened...right.

Reply
Mar 30, 2022 12:59:54   #
Coos Bay Tom Loc: coos bay oregon
 
Sonny Magoo wrote:
Why is that?
Oh...because I just read it?
..and Jekyll Island meeting never happened...right.


Well it isn't anything I want to argue about

Reply
Mar 30, 2022 14:04:33   #
Parky60 Loc: People's Republic of Illinois
 
slatten49 wrote:
Taken from the Online Archive of the Old PublicEye.Org Website.

By: Edward Flaherty, Ph.D. Department of Economics College of Charleston, S.C.

Facts: Yes, the Federal Reserve banks are privately owned, but they are controlled by the publicly-appointed Board of Governors. The Federal Reserve banks merely execute the monetary policy choices made by the Board. In addition, nearly all the interest the Federal Reserve collects on government bonds is rebated to the Treasury each year, so the government does not pay any net interest to the Fed.

Facts: No foreigners own any part of the Fed. Each Federal Reserve bank is owned exclusively by the participating commercial banks and S&Ls operating within the Federal Reserve bank's district. Individuals and non-bank firms, be they foreign or domestic, are not permitted by law to own any shares of a Federal Reserve bank. Moreover, monetary policy is controlled by the publicly-appointed Board of Governors, not by the Federal Reserve banks.

Fact: Independent accounting firms conduct full financial audits of the Federal Reserve banks and the Board of Governors every year. The Fed is also subject to certain types of audits from the Government Accounting Office.

Facts: The Federal Reserve rebates its net earnings to the Treasury every year. Consequently, the interest the Treasury pays to the Fed is returned, so the money borrowed from the Fed has no net interest obligation for the Treasury. The government could print its own currency independent of the Fed, but there would be no effective safeguards against abuse of this power for political gain.

Facts: The Federal Reserve banks have only a small share of the total national debt (about 7%). Therefore, only a small share of the interest on the debt goes to the Fed. Regardless, the Fed rebates that interest to the Treasury every year, so the debt held by the Fed carries no net interest obligation for the government. In addition, it is Congress, not the Federal Reserve, who is responsible for the federal budget and the national debt.

Facts: Kennedy wrote E.O. 11,110 to phase out silver certificate currency, not to issue more of it. Records show Kennedy and the Federal Reserve were almost always in agreement on policy matters. He even signed legislation to give the Fed more authority to issue currency.

Facts: McFadden was incorrect regarding the Fed costing the government money. However, later economic analysis agrees with him that Federal Reserve policy blunders had a substantial role in causing the Depression. However, his implication that this was done deliberately has no basis in fact. Moreover, for a dozen years prior to his rant, McFadden had been the chairman of the House subcommittee that oversaw the Federal Reserve. Why didn't he do anything to reform or abolish the Fed while he had the chance?

Facts: The banking system is indeed able to create money with a mere computer keystroke. However, a bank's ability to create money is tied directly to the amount of reserves customers have deposited there. A bank must pay a competitive interest rate on those deposits to keep them from leaving to other banks. This interest expense alone is a substantial portion of a bank's operating costs and is de facto proof a bank cannot costlessly create money.

Fact: The term 'lawful money' does not refer to gold or silver coin, but to types of money which the government would permit banks to use when tabulating their reserves. These types of money included, but were not limited to, gold and silver coin.

BY: Edward Flaherty, Ph.D. Department of Economics College of Charleston, S.C.

Myth #1: The Federal Reserve Act of 1913 was crafted by Wall Street bankers and a few senators in a secret meeting.
Myth #2: The Federal Reserve Act never actually passed Congress. The Senate v**ed on the bill without a quorum, so the Act is null and void.
Myth# 3: The Federal Reserve Act and paper money are unconstitutional.
Myth# 4: The Federal Reserve is a privately owned bank.
Myth #5: The Federal Reserve is owned and controlled by foreigners.
Myth #6: The Federal Reserve has never been audited.
Myth #7: The Federal Reserve charges interest on the currency we use.
Myth #8: If it were not for the Federal Reserve charging the government interest, the budget would be balanced and we would have no national debt.
Myth #9: President Kennedy was assassinated because he tried to usurp the Federal Reserve's power. Executive Order 11,110 proves it.
Myth #10. The Legendary Tirade of Louis T. McFadden
Taken from the Online Archive of the Old PublicEye... (show quote)

I get it, just because it's written as facts and myths by some unknown author and it's posted by you it MUST be true.

Reply
Mar 30, 2022 14:41:04   #
Marty 2020 Loc: Banana Republic of Kalifornia
 
So 7% of $30,000,000,000,000, our national debt, is $2,100,000,000,000.
2.1 trillion dollars is not “only a small share”!
Ridiculous!
Federal reserve banks need to be disbanded just like ma bell!
No more fiat money!

Reply
 
 
Mar 30, 2022 16:49:50   #
slatten49 Loc: Lake Whitney, Texas
 
Coos Bay Tom wrote:
Very good reading. Should knock the wind out of any conspiracy theories.

Maybe, Tom. But I wouldn't hold much hope for that to happen.

Reply
Mar 30, 2022 20:49:29   #
Coos Bay Tom Loc: coos bay oregon
 
slatten49 wrote:
Maybe, Tom. But I wouldn't hold much hope for that to happen.


Yep those juicy theories are just too juicy while the t***h is just boring and plain true .

Reply
Mar 31, 2022 12:09:12   #
jack sequim wa Loc: Blanchard, Idaho
 
slatten49 wrote:
Maybe, Tom. But I wouldn't hold much hope for that to happen.



Hey Slatten,
You haven't replied to my reply.
T'-Bills/Petro-Dollars

Reply
Mar 31, 2022 14:06:27   #
slatten49 Loc: Lake Whitney, Texas
 
jack sequim wa wrote:
Hey Slatten,
You haven't replied to my reply.
T'-Bills/Petro-Dollars


Jack, there is a good reason for that. Unlike Edward Flaherty, Ph.D. who wrote the article and may well know...I don't propose to have the answer. So, I am left to respond with "I don't know". If you choose to provide said answer, also refute...as best you can...all or part of what he stated in his article.

I appreciate your interest in the subject matter, and suggest going to the sources provided...

"Taken from the Online Archive of the Old PublicEye.Org Website.

By: Edward Flaherty, Ph.D. Department of Economics College of Charleston, S.C."

Also of possible help: https://www.thebalance.com/current-federal-reserve-interest-rates-4770718

As it not required, replying to me or not is left totally up to you.

Reply
 
 
Mar 31, 2022 14:28:25   #
jack sequim wa Loc: Blanchard, Idaho
 
slatten49 wrote:
Jack, there is a good reason for that. Unlike Edward Flaherty, Ph.D. who wrote the article and may well know...I don't propose to have the answer. So, I am left to respond with "I don't know". If you choose to provide said answer, also refute...as best you can...all or part of what he stated in his article.

I appreciate your interest in the subject matter, and suggest going to the sources provided...

"Taken from the Online Archive of the Old PublicEye.Org Website.

By: Edward Flaherty, Ph.D. Department of Economics College of Charleston, S.C."

Also of possible help: https://www.thebalance.com/current-federal-reserve-interest-rates-4770718

As it not required, replying to me or not is left totally up to you.
img src="https://static.onepoliticalplaza.com/ima... (show quote)



Until around 2010 every nation had to "BUY " T-Bill's to purchase oil from the middle east (Known as the Petrochemical dollars) since 2010 the agreement signed by Nixon 1971 with the Saudi oil and Middle East has begun to be slowly broken.
My point is since 1971 who has earned trillion ++dollars from the "Petro" dollar and it's not the U.S. government? Rhetorical...the Federal Reserve.

Reply
Mar 31, 2022 15:00:36   #
slatten49 Loc: Lake Whitney, Texas
 
jack sequim wa wrote:
Until around 2010 every nation had to "BUY " T-Bill's to purchase oil from the middle east (Known as the Petrochemical dollars) since 2010 the agreement signed by Nixon 1971 with the Saudi oil and Middle East has begun to be slowly broken.
My point is since 1971 who has earned trillion ++dollars from the "Petro" dollar and it's not the U.S. government? Rhetorical...the Federal Reserve.

Point taken.

Reply
Apr 2, 2022 00:07:57   #
jack sequim wa Loc: Blanchard, Idaho
 
slatten49 wrote:
Point taken.



This just came in today and wanted to know what you thought.

https://www.brighteon.com/55bfb9e0-80bd-424f-b075-9ce20d9acf8a

Reply
Apr 2, 2022 13:07:26   #
slatten49 Loc: Lake Whitney, Texas
 
jack sequim wa wrote:
This just came in today and wanted to know what you thought.

https://www.brighteon.com/55bfb9e0-80bd-424f-b075-9ce20d9acf8a

After deciding I didn't want to listen to the full hour's worth of video, I brought up the following link....

https://mediabiasfactcheck.com/brighteon/?msclkid=a66daa8db2a611ecb694e24e9014c554

The above does not encourage one to take it seriously...but, as I hold you in relatively high regard, I'll seek further info.

Reply
Page 1 of 2 next>
If you want to reply, then register here. Registration is free and your account is created instantly, so you can post right away.
Main
Home | Latest Digest | Back to Top | All Sections
Contact us | Privacy policy | Terms of use | DMCA
OnePoliticalPlaza.com - Forum
Copyright 2012-2024 IDF International Technologies, Inc.