All videos I have posted are based on historical fact,I get my info from many sources although admittedly information on the fed is somewhat hard to find especially who are the ultimate private owners who in the end recieve a 6% dividend on all profits. There are many many shady grey areas within the fed.
Although the Fed is currently audited by outside agencies, these audits are not thorough and do not include monetary policy decisions or agreements with foreign central banks and governments. The crucial issue of Federal Reserve transparency requires an analysis of 31 USC 714, the section of U.S. Code which establishes that the Federal Reserve may be audited by the Government Accountability Office (GAO), but which simultaneously severely restricts what the GAO may in fact audit. Essentially, the GAO is only allowed to audit check-processing, currency storage and shipments, and some regulatory and bank examination functions, etc. The most important matters, which directly affect the strength of the dollar and the health of the financial system, are immune from oversight.
^ [http://www.auditthefed.com/ "An Open Letter to the U.S. House of Representatives"]. http://www.auditthefed.com/. Retrieved 2010-02-19. Whereas: Congress, the Federal Reserve, and the U.S. Treasury have put the American taxpayer on the hook for over $12 trillion in bailouts and loans; and Whereas: Federal Reserve Chairman Ben Bernanke recently refused to tell Congress who has received trillions in these funds from the Federal Reserve; and Whereas: Allowing the Fed to operate our nation's monetary system in almost complete secrecy leads to abuse, inflation, and a lower quality of life for every American; and Whereas: HR 1207, the Federal Reserve Transparency Act, and S 604, the Federal Reserve Sunshine Act, would require a full audit of the Fed for the first time in its history and would provide answers to the American people about how our money is being spent;
And this.
The Federal Reserve System has both private and public components, and can make decisions without the permission of Congress or the President of the U.S.[61] The System does not require public funding, and derives its authority and public purpose from the Federal Reserve Act passed by Congress in 1913. The two main aspects of the Federal Reserve System are the Federal Open Market Committee and regional Federal Reserve Banks located throughout the country.
According to the board of governors of the Federal Reserve, "It 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."[11] The U.S. Government does not own shares in the Federal Reserve System or any of its component banks, but the Government does receive all of the system's annual profits after a statutory dividend of 6% on member banks' capital investment is paid and an account surplus is maintained. The government also exercises some control over the Federal Reserve by appointing and setting the salaries of the system's highest-level employees. The Federal Reserve transferred a record amount of $45 billion to the U.S. Treasury in 2009.[12]
http://en.wikipedia.org/wiki/The_Federal_Reserve
Of particular conspiratorial note was the politics and the actions/motives that led up to the creation of the fed and the manner in which the federal reserve act was passed in 1913. http://www.the7thfire.com/new_world_order/final_warning/federal_reserve_act.htm
Re: The federal reserve
Member #: 9881
Registered: 1996-2001
Posted:
893
Name:
unobtainable
Occupation:
slavin for the irs
Location:
deep in the swamp
Personal:
mid 50s
Experience:
~38 years
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