Hey that's a great post! Just about everyone on this forum knows how that the Fed is a totally criminal banking cartel, but also just about everyone has friends and family that think you're crazy when you speak the truth! For this reason, I have composed the following letter that I email to those loved ones who just can't get it:
Dear Citizen who thinks that you own the Federal Reserve,
I know this is gonna hurt, but, I'm sorry--you
don't own the Federal Reserve.
None of it. Not
one little, tiny bit. In fact, not only do you not
own it, but instead, you
owe it. And me too. As in,
owe it interest--6% to be exact--on every dollar that it makes up out of thin air and sells your government and people. The US government has
no stock in the FRS or any of its banks, and
no shareholder status.
Zero. In fact, senators and representatives are expressly
prohibited from holding office in the Federal Reserve System (FRS Act Section 4, paragraph 13). Again, the US government and the US people have zero ownership interest in the FRS. My lovely friend, I know that's hard to take, but you don't have to believe me. No, indeed, because here it is directly from the
Federal Reserve Act, Section 2, paragraph 10. You can read for yourself at:
http://www.federalreserve.gov/aboutthefed/section2.htm. Here it goes:
"As originally enacted the Federal Reserve Act provided for a Reserve Bank Organization Committee to have charge of the initial steps in organizing the Federal Reserve System and this Committee was authorized to allot Federal Reserve Bank stock to the United States in the event that subscriptions to such stock by banks and by the public were inadequate. However, subscriptions by member banks were adequate and there was no necessity or authority for the allocation of any stock to the United States. Accordingly, [this paragraph] is now of no practical effect and may be regarded as obsolete."]" All stock in the FRS was allocated to
banks, none to the government. Also, government officials are expressly prohibited from the Board of the FRS, including senators and representatives (Section 4), and also (after 1935) the Secretary of the Treasury and Comptroller of the Currency (Section 10). Some people say that the FRS is a "non-profit" bank, and that it "gives" back all its surplus to the Treasury. Well, no: the Federal Reserve System also is NOT a "non-profit" organization, either. The FRS is made of 12 district branches, each of which is wholly owned by the
member banks of each district. You can easily learn about this by reading the FRS Act of 1913 from the FR's website, and then
you'll actually have done something that your own representatives and senators probably haven't even bothered to do (unless you rep is Ron Paul or Dennis Kucinich, or your senator is Bernie Sanders).
Additionally, my dear friend, when you do this, you'll learn that only national association (NA) banks and
for-profit banks can even attempt to buy into the FRS or purchase stock in the District bank of their specific regional area. This means that state-chartered banks, which are banks operating in a single state under the authority of the state, supervised by the Comptroller of the Currency, must specially apply to the Board of the FRS to buy stock (Section 9), and the Board may
deny them at their will. Most state banks only gain entry to the FRS after having mergered with a member NA, and all national association (NA) banks
must be FRS members. In addition to this, credit unions of any size are
prohibited from joining the Federal Reserve System, and only have access to the Fed funds window in emergency situations, and even then only at the will of the Board. In case you don't know, credit unions are non-profit banks, as they are co-operatives owned by the account holders. So, beautiful dear loved one, the real non-profit "banks" are literally
prohibited from the FRS. No, dear, don't cry.
Oh my sweet friend, if you need more proof yet and have nothing else to do on a cold, dark knight, read the FRS Act, which is available from the above FRS link. You'll also see Section 4, paragraphs 20-22, which detail the fact that the Chairman, Board, and staff ("staff" including the
private "police" authorized in Section 11, paragraph Q) are paid
not by the government, but by the member banks of the
privately-owned Federal Reserve district stockholders. They are
not "public servants," and they are
not paid by the government or the tax-payer (directly, that is, as we are ALL paying for ALL of this!). Oh no, my dear love, you're
crying again. Wipe away your tears, dear, and go check out Section 16, paragraph 10, and you'll also see how the FRS in fact must
pay the Bureau of Engraving (which
is a government body) to make the notes for them, and then the notes become the property of the FRS and the "obligation" of the US, and the Federal Reserve sells them back to US through the advances to its very own member banks. And be ware, my love, as some confused and mistaken people will say that the "left-over" is put back in the Treasury. Love, while this is certainly inventive, it is also totally
not true. Directly from
Section 7, Subsection A, paragraph 1:
"
a.) After all necessary expenses of a Federal reserve bank have been paid or provided for, the stockholders of the bank shall be entitled to receive an annual dividend of 6 percent on paid-in capital stock."
It is true, dear, that every year the FRS "gives back" a small amount to the Treasury, but this money was
created up by the FRS itself, and, as per section 7, the money is placed "on account" with the Treasury to settle the "debt" that the Treasury has --has with the FRS,
because the FRS is making up money and selling it to Treasury. The Treasury has
no authority over the issuance of Federal Reserve notes. Since you probably don't believe me saying that in your fragile state, here it is from the FRS Act,
Section 16, with my emphasis so you can hear me:
"Federal reserve notes, TO BE ISSUED AT THE DISCRETION OF THE Board of Governors of the Federal Reserve System for the purpose of
MAKING ADVANCES TO Federal reserve banks through the Federal reserve agents as hereinafter set forth and for
NO OTHER PURPOSE, are hereby authorized."
You've stopped crying--are you getting mad now? Perhaps enraged, even? Yes, love, that is a common response. But unfortunately, that's not all: stop shaking, and check out
Section 7, Subsection (c): “Federal reserve banks, including the capital stock and surplus therein, and the income derived therefrom
SHALL BE EXEMPT from Federal, State, and local taxation, except taxes upon real estate.”
So, my beloved one so angry and distraught, the
profits of the FRS are
non-taxable as well. Again, the FRS banks pays no taxes on their profits, and the member banks pay no taxes on their dividends payments. As for those member banks--in addition to the
tax-free 6% post-expenses dividend, the member banks are also currently recieving
interest on their deposits with the FRS, as per the TARP legistation of 2008. Yes, my dear, as you sit here steaming mad and the bankster criminals, they are getting interest on their made-up money on deposit with their district Bank, being charging it back as a liability to us, the US taxpayers. That was unprecendented until last October, of course, but indeed, member banks are now getting PAID to hold money in the system, "money" of course which is being produced from
thin air. Yes, I said "thin air," cupcake. Don't believe me about the "thin air" part, either? Well, this might interest you, directly from the US Treasury's website at
http://www.ustreas.gov/education/faq/currency/legal-tender.shtml :
"Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything. This has been the case since 1933. The notes have no value for themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are "backed" by all the goods and services in the economy." No, love, please don't use your worthless Federal Reserve notes to wipe your eyes and blow your nose--they are flithy! Instead, take this much more valuable
Kleenex, and finally, consider the above against the rest of
Section 16, Subsection 1 of the Federal Reserve Act, the first part of which I already quoted:
"Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are hereby authorized. The said NOTES SHALL BECOME OBLIGATIONS of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank." Of course, my ever dearest tender-hearted loved one, you cannot even get "lawful money" for a Federal Reserve note that you might present to a FRS bank, because there is
no more "lawful money." Oh my sweetness, I am sorry to have to break it you, but the Federal Reserve is a totally criminal bankster operation run by supranational banks, and now you know for certain. Sucks, doesn't it? Now clean yourself up and go tell everyone else.
