FederalReserve.Gov lies , claims FED is not private nor owned by anyone

[allied]

http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm#5

[Revolt426]

LOL FED Lies and says no one owns it, when the British Encylopedia Britannica admits it is owned by mostly British Private Bankers and a few American Bankers.:


Who owns the Federal Reserve?
The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.

As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by 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 Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."

The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like 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.

 

[tritonman]

LOL Geo Libertarian has already given an in depth answer to this question today,, I guess someone did not like the truth..

[Revolt426]

Watch the Money Masters...  thats all I can say Newbie, you may go in peace...

He didnt write that, the Government did. Not his fault.

[Byrne0ut]

He didnt write that, the Government did. Not his fault.

I miss understood, i removed my reply.

[tritonman]

yes i noticed that also my  humblest appologies friend.  and help Ban the fed.

[lazarus]

the Reserve Banks issue shares of stock to member banks.

Notice the above.

However, owning Reserve Bank stock is quite different from owning stock in a private company.

Yes. It sounds quite different. Very strange in fact. The read is cryptic. Check it out yourselves.

[Geolibertarian]

and help Ban the fed.

Heheh, exactly, that way we can have fun watching the Fed's criminal, parasitic stockholders throw the same hissy fit that Hitler threw when he learned he was banned from Prison Planet Forum:

       http://www.youtube.com/watch?v=7bdlFYrHoGs

[Geolibertarian]

Geo Libertarian has already given an in depth answer to this question today

Yes, in the "General Discussion" forum. For those who may have missed the response, I'll post it here.

"Upon examining the structure of the Fed, one might ask, 'In which of the three branches of government does the Fed lie?' The answer is, 'None. Legally, the 12 regional banks are private.'" -- Paul A. Samuelson & William D. Nordhaus, Economics, 16th ed., p. 495


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http://www.themoneymasters.com/faqs.htm


Question: Who owns the Federal Reserve Banks?

Answer: The Federal Reserve Banks of each region are owned by (issue their stock exclusively to) the member banks of that same region. The member banks are privately owned corporations. Thus the Federal Reserve Banks are privately owned. This is a matter of law and anyone may read the Federal Reserve Act of 1913 for themselves (see below).

Question: Why then do some people deny that the Federal Reserve Banks are owned by private corporations?

Answer: Three groups of people deny this fact, for differing reasons:

1.  The first group consists of the private owners of the Federal Reserve Banks, and their shills. It is obviously not in their interest that the American people realize that private bankers own what most people regard as a part of the public treasury and government. The people would doubtless not like it if they knew that the stockholders of the Federal Reserve Banks receive 6% interest (raised higher in the past) per year on their stock ownership, risk free. The people would be legitimately concerned to know that the member bank stockholders elect six of the nine members (i.e., 2/3rds) of the Boards of the reserve banks of their regions. Rather than regulating or controlling the activities of private banks in their regions, the opposite is the case.

2.  The second group consists of those persons who, in their ignorance, have believed the propaganda of the Federal Reserve Banks, which sometimes issue ambiguous, doublespeak statements attempting to obfuscate their private bank ownership. Here is a typical example from the NY Fed website, quite easily seen through:

“Although they are set up like private corporations and member banks hold their stock, the Federal Reserve Banks owe their existence to an act of Congress and have a mandate to serve the public. Therefore, they are not really 'private' companies, but rather are 'owned' by the citizens of the United States…Member banks do, however, receive a fixed 6 percent dividend annually on their stock and elect six of the nine members of the Reserve Bank's of their region… the Reserve Banks issue shares of stock to member banks.”

3.  The third group consists of those people who consider that because the Chairman of the Federal Reserve Board of Governors is appointed by the President and approved by the Senate that the Fed is firmly under government control and that this is sufficiently equivalent to ownership to put them at ease (never mind the outright private bank control of the 12 regional Federal Reserve Banks). Let’s hear how the Fed itself regards such indirect “government control” (again from the NY Fed website):

"The Federal Reserve System is not 'owned' by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects."

If you are a little uncomfortable with “your” Fed having “private aspects,” you are not alone. Notice also the contradiction with the other NY Fed quote above, which claims the citizens of the US own the Fed – here it claims no one owns it (same website). The truth and the law is that the member banks own and control all 12 Federal Reserve Banks. Another interesting doublespeak quote from the NY Fed website:

"Therefore, the Federal Reserve can be more accurately described as 'independent within the government.'"

A little independence is a good thing, unless that independence is in reality virtually total and the entity involved controls the nation’s money and economy. Think about it: if the Fed is independent from the government that created it, then who controls it –- it has no brain of its own -– it is not a person. If it is not controlled by our government, then by whom?

Question: Doesn’t the fact that the President appoints the Board of Governors of the Federal Reserve System make it a quasi-governmental sort of entity?

Answer: Yes, but how “quasi” is quasi-enough? The Board of Governors of the System consists of 7 members, one appointed every two years (one term begins every two years, on February 1 of even-numbered years, a full year after inauguration day) by the President and confirmed by the Senate for 14 year terms. Wow…those are really long terms. Why? Let’s see: if a new President comes into office pledged to reform the Fed, end its independence from effective government oversight, throw the rascals out and replace them with his own appointees, he had better be very patient, as he can only replace one member every two years. So in his four year term (10 years less than Fed Governors’ terms) he can replace only two of the 7 members. Of course, he had better be able to sustain the ire of the remaining Governors (almost all connected to financial institutions indirectly in various academic and think-tank institutions financed by banks and bank grants or loans, or which they hope to join in revolving door relationships after their single terms are up), who can run the economy up, down or sideways, in the interim.

But assuming the President can sustain the fight with the Fed, its bank-PAC financed cheerleaders in the Senate, voters upset over a suddenly sinking economy, the banks who control the Fed and the media giants they also own, then all this brave but foolhardy President has to do is get elected to a second term, and hang on long enough to appoint two more Board members. Thus, assuming all of this goes well, in the span of seven years (a glacial pace in American politics), near the end of his second term, he can finally begin some reform –- if he manages to get his four appointees confirmed, is still in office and has any allies left –- even in his own party. We think the prefixed word quasi-governmental is a good one, if you understand quasi- to mean pseudo.

Keep in mind also the distinction between the 12 regional Federal Reserve Banks, and the Federal Reserve System as a whole. The private ownership of the 12 Federal Reserve banks we addressed above. "Federal Reserve System" usually refers to the entire framework established by the Federal Reserve Act of 1913, including those 12, privately owned Federal Reserve Banks, and the Board of Governors of the system, which meets in Washington D.C. The Fed Board of Governors was also established by the Act of 1913. These are the 7 members with 14-year terms, also mentioned above. Two of them are appointed by the President to 4-year terms as Chairman and Vice Chairman of the Board (largely nominal positions -- no extra votes). They, of course, are not owned like corporation stock is owned. So when someone is trying to mislead folks by denying any private ownership of the Fed, they will inevitably refer to the Federal Reserve System (rather than to the Federal Reserve Banks) and declare it is not privately owned (which is partly true [the Fed Board of Governors is not "owned"], and partly false [the 12 Federal Reserve banks are]). We have addressed these two elements in detail, above.

Question: Have the Courts had to decide whether the Federal Reserve Banks are privately owned or not?

Answer: Yes, in several cases. Here is one of them on point which went up to the 9th Circuit Court of Appeals: LEWIS v. UNITED STATES

John L. LEWIS, Plaintiff/Appellant v. UNITED STATES of America, Defendant/Appellee. No. 80-5905. United States Court of Appeals, Ninth Circuit. Submitted March 2, 1982; Decided April 19, 1982; As Amended June 24, 1982....


Let’s sum up: The Federal Reserve consists of 12 regional banks, the stock of which is owned and the Boards controlled by the member banks, which are privately owned bank corporations. These institutions receive 6% profit on their funds paid into the Fed, rain or shine, peace or war (sometimes more).

The Federal Reserve Board of Governors is an independent (its own word) entity “within” the government (i.e., something much like an independent, internal parasite in a host organism), with 14 year, reform-proof terms (i.e., only one of 7 can be replaced every two years).

The Fed was deliberately designed to appear as a sort of government body to hide the fact that it is a private banking cartel whose member banks share in the vast profits of seigniorage (i.e., the difference between the cost of printing/minting or otherwise creating money [a few cents per $100], and its face value). Yes, the Department of the Treasury does still mint our coins (at the US mint) but that represents under 1% of the US money supply, the great bulk of which is simply bankbook entries -- electronic keyboard impulses in computer memories -- created by banks on-the-spot to fund loans they make in response to loans applications their "customers" submit (hence the competition by banks for your loan applications and credit card borrowing).

[Continued...]

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[Byrne0ut]

Where is is possible to find the member banks of each of the 12 branches of the federal reserve.  Until that nugget is cracked we will never know.
Are the number of shares limited?  Like if I opened up a new local savings bank, would my bank be able to buy shares in the federal reserve bank in my area, or would my bank simply be a depositor at that branch of the federal reserve.
So many questions, such little time...

[Revolt426]

Where is is possible to find the member banks of each of the 12 branches of the federal reserve.  Until that nugget is cracked we will never know.
Are the number of shares limited?  Like if I opened up a new local savings bank, would my bank be able to buy shares in the federal reserve bank in my area, or would my bank simply be a depositor at that branch of the federal reserve.
So many questions, such little time...

That nugget was cracked years ago, go look at the Encyclopedia Brittanicca.

2 Shares are owned by Rothschild
2 Were owned by Lehman
2 I think Citi Bank...

I forget the rest, i'll look it up in a bit.

[Revolt426]

Rothschild Bank of London
Warburg Bank of Hamburg
Rothschild Bank of Berlin
Lehman Brothers of New York
Lazard Brothers of Paris
Kuhn Loeb Bank of New York
Israel Moses Seif Banks of Italy
Goldman, Sachs of New York
Warburg Bank of Amsterdam
Chase Manhattan Bank of New York
 

[Revolt426]

Now, consider Lehman has collasped and Barclays purchased much of their operations after the fact so either their are 10 Owners now, or Barclays now owns the other two shares.

[Byrne0ut]

Now, consider Lehman has collasped and Barclays purchased much of their operations after the fact so either their are 10 Owners now, or Barclays now owns the other two shares.

Where did you come up with that information? 

Like are the shareholders limited to the original banks who bought stock when the Federal Reserve act of 1913 was passed? 

[Revolt426]

Where did you come up with that information? 

Like are the shareholders limited to the original banks who bought stock when the Federal Reserve act of 1913 was passed? 

The Encylopedia Brittanica admits the FED is owned by 12 banks
the above are the banks named.

Lehman Bros owned two shares and collapsed, i do not know where those shares went.

[Byrne0ut]

The Encylopedia Brittanica admits the FED is owned by 12 banks
the above are the banks named.

Lehman Bros owned two shares and collapsed, i do not know where those shares went.

About the fed being owned by twelve banks, does that simply refer to the 12 regional federal reserve banks with each member bank within each region selecting a board member for the board that controls the policy.

[Revolt426]

About the fed being owned by twelve banks, does that simply refer to the 12 regional federal reserve banks with each member bank within each region selecting a board member for the board that controls the policy.

No the entire FED system is owned by 12 banks but the FED also has 12 regional banks. The 12 banks are all a collective business called the Federal  Reserve, which is owned by those 12 banks (Lehman had 2 shares) so now 10.

[Revolt426]

Lehman and one of the other banks, possibly Warburg had 2 shares each btw. That makes 12.

[Byrne0ut]

i have been researching this for some time and I just cant seem to find this information.  Its driving me nuts because I want to believe you i just personally (not saying its not out there) can not find this information being documented anywhere.  I know the 12 regional fed banks are overseen by the Federal Reserve Board of Governmors, each of whom are appointed by the president, and each regional fed is overseen by a nine member panel (also referred to as governors) with 3 of those positions for each bank being filled by the Federal Reserve Board and the other 6 are appointed by vote among the member banks within each of the 12 districts. 
Further all of my research that I have been able to find states that every national bank must buy shares of the Federal Reserve for the district in which they are located. 

[Revolt426]

You dont have to believe me, go look it up in the Encylopedia Britannica

[Byrne0ut]

im not paying for a membership to the encyclopedia britannica.

[Revolt426]

lol not membership, go to the library ..... I've seen numerous press articles that cite the Britannica Fed description with the above banks as the owners of the shares.

[Byrne0ut]

Im not denying that those banks own shares, i jsut dont think those are the sole shareholders.  Any bank that operates on a national level would have to own stock in the fed.

[Revolt426]

Im not denying that those banks own shares, i jsut dont think those are the sole shareholders.  Any bank that operates on a national level would have to own stock in the fed.

Maybe other banks have some sort of shares in the Regional banks but the bank that makes all key decisions is the Washington / NY FED Banks

[Byrne0ut]

   Every national bank has to own stock in the federal reserve system, thats the way it works.  They wouldn't be able to loan money out on the open market if they didn't.  I have been looking over the Annual Report for the federal reserve for the last 2 hours or so, its a bit mind numbing all the numbers.  But what I gathered was in the year ending dec 31 2007 the 12 federal reserve banks made a profit of $4,115,886,000.  Their net income that year(for all 12 regional banks with new york being BY FAR AND AWAY the largest) was $38,716,287,000 of that they paid $34,598,401,000 to the treasury and $992,000,000 in dividends to their member banks. So it worked out to be that every American(counting the population of 300 million) pays $13.71 to the federal reserve. 

    What does all of this mean, I have no idea i am still working out the research I am just emphasizing that the federal reserve is a for profit entity.  I will now try and deduce where the hell that 4 billion dollars went in 2007, it says in the report it is "Transferred to surplus and change in accumulated other comprehensive income"  but we now need to find out who has access to that surplus.

[Revolt426]

Regardless of who is invested in the regional FED branches, the question is who owns bernanke and the FED banks of NY and Washington where ALL Policies are decided.

A private Bank can be owned by entities or by it's depositors and run by a board of trustee's.

However, all FED decisions are made in the two above mentioned banks, with emphasis on the Main FED Branch where Bernanke meets with the other criminals.

There was a recent article on PP quoting a Regional Fed Cheif as saying "The main FED bank has usurped all of the power in the FED system". I forget which region it was, shouldn't be too difficult to find, it is surely on the PP.TV and infowars archives.

[Byrne0ut]

There is no Federal Reserve bank of washington, there is one in Richmond Virginia.  The Federal reserve board of governors headquarters are located in Washington, but there is no bank facility there.

[Revolt426]

There is no Federal Reserve bank of washington, there is one in Richmond Virginia.  The Federal reserve board of governors headquarters are located in Washington, but there is no bank facility there.

Well, Washington is in Virginia isn't it lol.... But ok, so who is running the decision making  process of that bank, that is the question that is vital.

[Amd304912]

Mason-dixon

paradigm.