What is your position on our Federal Reserve System being owned by privately owned international banks?
in 1913 Congress passed the Federal Reserve Act giving contgrol of our money to it's privately owned member banks. Since it's inception our "FED" has been owned by large American and European Banks. Government records confirm all 12 Federal Reserve Banks are owned by international banks. Our Court has held Congress cannot delegate its Constitutional duties to others, Schechter Poultry Vs. U.S>, 495, 55 U.S. 837-842 (1935), Panaman Refining Company Vs. Ryan, 293 US 388 Page 529. Pres. Woodrow Wilson who signed the law was later quotated as saying he was an unhappy man who had unwittenly ruined his country by having a government by the opinion and duress of a small group of dominant men. Congress Ron Paul, as have former chairmen of the house banking comm.,running in the Rupublican Primary has tried to repeal this action by Congress for many years. Our media has brainwashed the American people to think the "FED" is a government Agency. A book on line at jlk foundation.com explains it.
- Anonymous1 decade agoFavorite Answer
This is the quote from Wilson.
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world - no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress [coercion] of a small group of dominant men.” ~ Woodrow Wilson
I think he said it as well as I could. That's pretty much my opinion too.
I obviously didn't pay enough attention to your question.
- gray shadowLv 61 decade ago
Hugh: I invite you to fact-check the information you gathered from the jlkfoundation.com from authoritative sources. Anytime you have a source that has a political agenda (in this case an anti-fed one), you should be skeptical.
- To say that the Federal Reserve is private is not wholly true
The Federal Reserve System is organized with a government agency at the top (the Board of Governors), and branches beneath them that resemble private corporations. (http://www.federalreserveeducation.org/fed101/stru... )
The Board of Governors are all appointed for 14-year terms by the president and confirmed by congress. It operates per it's charter and laws set by congress. it is overseen by congress. There is no structure or mechanism for private ownership at this level. Board members are forbidden by law to have any economic interest in a private bank.
The 12 branches, however, are organized similar to private corporations. Member banks are required to buy shares in their branch. They can vote for 6 of their 9 board members. The shares get a standard 6% dividend. These shares cannot be sold on the open market. All 'profit' from the Federal Reserve branches are turned over to the Treasury at the end of the year. (that's been about 95% since 1913). Are the Fed branches privately owned? The Fed says 'No' (ref http://www.federalreserve.gov/generalinfo/faq/faqf... ). Courts have ruled that the branch banks can be treated as a private corporations for purposes of tort law.
- To say that the Federal Reserve branches is owned by international banks would be false.
Direct foreign ownership is forbidden by Title 12, chapter of the Federal Reserve act whic states that only National banks and some state banks can buy shares into the Federal Reserve banks. (ref: http://www4.law.cornell.edu/uscode/html/uscode12/u... )
If you have some government documents that state something to the contrary, please share.
- The "most unhappy man" quote is probably a fake according to Wilson Scholars
Try searching the entire Woodrow Wilson library of his collecting writings and you won't find it - http://www.woodrowwilson.org/learn/learn_show.htm?...
Or read the discussion section on Wikipedia about Woodrow Wilson where the authors conclude it is a fake: http://en.wikipedia.org/wiki/Talk:Woodrow_Wilson
- JaniceLv 44 years ago
I know you know the answer, as I think you know more than I do about the agenda, but I'll play along. They have to destroy our economy to dupe us into joining a North American Union, and replace our currency with the Amero. When we do this, USA will lose her sovergnty. Don't let the stock market fool you...It's not 'all better.' They are taking over our nation, and grabbing our freedom out from under us in the interest of the NWO. It doesn't take much research to learn who is running the USA(and most of the world). The public opinion(wool over the public's eyes), and picture of Dems, and GOP's is that they both think that the opposing candidate/person in office will destroy America, and is 'the bad guy'. The truth is that they are simply each half of a pair of wings which make the CFR machine fly. It is fact that over 90% of the US State Department, and Executive branch are CFR members. Using the two party system is nothing more than constructive chaos to keep the public divided, and confused. As long as we the people are divided, they will keep beating us down. Both parties are CFR member dominated...we will get the same result with either. Both parties are simply puppets(insiders) who will act out the wishes of the World Bank. Voting for a lesser evil will not save us, or help us any. The agenda continues with ANY CFR member choice! Our government allows them to do this to us, because they(the Fed), a private group of elite bankers control our goverment through the CFR. Where was Bush during the G-7 meeting? I didn't see him there, and this was a monumental meeting of elites deciding the fate of the world. It's simple to see who is running the world for anyone who chooses to see. Members of the World Bank own virtually all of the US media outlets, so most people hear, and see what they choose for us to hear, and see. They aren't 'taking us over'...They already own us. Our nation has hit a sad crossroads. People have forgotten that freedom is not free. Freedom is earned, not given. Anyone who believes in America needs to open their eyes, and start looking at facts, before we stupidly let them sign it away!
- John LLv 51 decade ago
It's a heavily regulated Public/ Private institution "owned" by member banks. Because banks can buy stock in Federal Banks, it can be owned (partially) by foreign entities who own stocks in those banks. Big deal, every Corporation in the US has foreign investors. It is in fact becasue of the constitution that this is the case, as the the Federal government cannot "own" the banking system. We went through a long fight about this in the early 19th century. So the Fed is like a compromise. It's not perfect by any means but foreign "ownership" isn't anything to worry about.
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- 1 decade ago
Better than it being controlled by the government, who would use it for political reasons... imagine how jacked up the economy would be if the politicians (who I might add are largly economic morons) were fiddling with the interest rates for political reasons. How long do you think it would take before the economy of the USA started looking like the economy of Zimbabwe?
- Cookies Anyone?Lv 51 decade ago
We only pay an Income Tax to pay the interest on the money we "borrow" from the Fed....
You all should really watch Aaron Russo's America: From Freedom to Facism and his interview about Nelson Rockefeller...
- Floyd BLv 51 decade ago
The Fed is the tool that moves the money in to the hands of the few.