Radiance3 wrote:
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Reagan, you sound like Richard. I'll just briefly give you a brief overview how our Federal Reserve Started.
After series of wars, our nation spent so much money. Our country was insolvent. Ways to have funding for an ongoing operations, our government started this banking corporation in 1871. Grant was the president from 1869 to 1877. General Grant did sacrifice for our country, and I think he must not be vilified. He was the Commanding General of the victorious union during the Civil war. There's lots of struggles in his life but he became president. He graduated from the West Point Academy.
During that time, Alexander Hamilton was the Sec. of Treasury. Hamilton was smart to create an idea of this banking system and to raise funds to start the bank. It was started by funding from private sectors mostly from England perhaps under the Rothschilds. though it did not specify that, The bank issued shares of stock and was sold and investors bought not as owners of the bank but just investors . That was why they called it corporation.
They investors earned profits via a defined rates offered by the bank. No one owns the Federal Reserve.
Currently the Federal Reserve in 1913, had expanded to 12 Federal Reserve Banks. Headed by 7 Board of governors appointed by the president and approved by the Senate. for 14 years. The head of the Federal reserve is currently Jerome Powel. Appointed by the president and approved by the Senate. He'll stay there till 2024. But being member of the Board, he'll stay until 2028.
The Federal Reserve purpose:
Conducting the nation's monetary policy by influencing money and credit conditions in the economy in pursuit of full employment and stable prices.
The Federal Reserve is not funded by Congress. It earns it own revenue by issuing notes, and debts to borrowers to fund their various business operations. Most of debtors are other banking institutions. The Federal Reserve prepare its financial statements, and profits realized are provided to the US Treasury.
Currently our National Debts could be part of the initial funding of how our federal reserve banks started. Our national debts keeps on growing even without additional debts out up, but due to interest expense charges in the debts itself. However, causes of the rapid growth of our National Debts is due to massive spending of Joe Biden which exceeds revenue, therefore deficit spending occurs.
In short due to the series of wars US had gone thru, the nation was in dire need for funding, and thus this Federal Reserve Bank was created in 1913. Other purpose is how to manage our country's monetary policies.
=================== br i Reagan, you sound lik... (
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I know how the Federal Reserve started sir but it was Ulysses S Grant that sold America out to centralized banking! From then on we've been known as us Inc not the United States of America! I'm not demonizing Ulysses S Grant but the fact that he sold out to the centralized bank and yes I will call him out for that because we haven't been a free country since 1871! All the countries around the world that do business with the United States they do business with us Inc!