The Federal Reserve, a central bank in the United States, is controlled by a Board of Governors appointed by the U.S. president and confirmed by the Senate. It is not an independent agency, but rather an independent agency created to serve the public interest. The Federal Reserve was established to fulfill monetary policy goals, such as full employment and stable prices. Sen. Nelson Aldrich, chairman of the Senate finance committee, recognized the need for a change.
The Federal Reserve was established to serve public interests, not private ones. President William Taft pledged to veto any legislation that included the Federal Reserve. There are 12 different Federal Reserve Banks around the country, owned by big private banks. Some people believe that the Federal Reserve and international bankers (Rothschilds, Rockefellers) run the world. However, Congress set up the Fed to serve public interests, not private ones.
Some conspiracy theories include the existence of a secret gathering at a secluded island off the coast of Georgia in 1910, which laid the foundations for the Federal Reserve System. Gary Kah and Eustace Mullins have authored separate books alleging that a secretive international banking elite owns and controls the Fed.
Paul Moritz Warburg, synonymous with the founding of the Federal Reserve System, has had a significant impact on American banking. The name Paul Moritz Warburg is synonymous with the founding of the Federal Reserve System, and his family’s influence on American banking is a parallel to the Federal Reserve’s history.
📹 The Creature From Jekyll Island: The Federal Reserve Conspiracy
Connor Boyack, creator of the “Tuttle Twins,” gives a brief history of the U.S. banking system, including the rise of populism, …
Who is in charge of the Federal Reserve?
Jerome H. Powell, the current Chair of the Federal Reserve Board, has been in office since February 2018, serving a four-year term. He was reappointed for a second term in May 2022. Powell also serves as Chairman of the Federal Open Market Committee, the system’s principal monetary policymaking body. He was appointed to the Board in 2012 to fill an unexpired term and was reappointed in 2014 for a term ending January 31, 2028. Prior to his appointment, Powell was a visiting scholar at the Bipartisan Policy Center and a partner at The Carlyle Group.
He served as an Assistant Secretary and Under Secretary of the U. S. Department of the Treasury under President George H. W. Bush, focusing on policy on financial institutions and the Treasury debt market. Powell previously worked as a lawyer and investment banker in New York City.
Who are the seven members who run the Federal Reserve?
The Board of Governors of the Federal Reserve Banks (FRB) is a government agency responsible for overseeing the operations of the Federal Reserve Banks and the U. S. banking system. The current members of the board are Jerome Powell (Chair), Philip Jefferson (Vice Chair), Michael Barr (Vice Chair for Supervision), and Charles Barr (Vice Chair for Supervision). The appointments are made by the president from among the sitting governors of the Federal Reserve Banks, and the terms of the seven members span multiple presidential and congressional terms.
The Board functions mostly independently, with major economists supporting this independence. It is required to make an annual report of operations to the Speaker of the House and supervises and regulates the operations of the Federal Reserve Banks and the U. S. banking system. The Board’s funding comes from charges assessed on the Federal Reserve Banks, not from the federal budget.
Membership is limited in term, and a member who has served a full 14-year term is not eligible for reappointment. However, there are instances where an individual was appointed to serve the remainder of another member’s uncompleted term and has been reappointed to serve a full 14-year term. Members can serve for significantly longer than a full term of 14 years.
Who are the 7 members who run the Federal Reserve?
The Board of Governors of the Federal Reserve Banks (FRB) is a government agency responsible for overseeing the operations of the Federal Reserve Banks and the U. S. banking system. The current members of the board are Jerome Powell (Chair), Philip Jefferson (Vice Chair), Michael Barr (Vice Chair for Supervision), and Charles Barr (Vice Chair for Supervision). The appointments are made by the president from among the sitting governors of the Federal Reserve Banks, and the terms of the seven members span multiple presidential and congressional terms.
The Board functions mostly independently, with major economists supporting this independence. It is required to make an annual report of operations to the Speaker of the House and supervises and regulates the operations of the Federal Reserve Banks and the U. S. banking system. The Board’s funding comes from charges assessed on the Federal Reserve Banks, not from the federal budget.
Membership is limited in term, and a member who has served a full 14-year term is not eligible for reappointment. However, there are instances where an individual was appointed to serve the remainder of another member’s uncompleted term and has been reappointed to serve a full 14-year term. Members can serve for significantly longer than a full term of 14 years.
Who is behind the Federal Reserve?
The Federal Reserve System, established in 1913 by the Federal Reserve Act, is not owned by anyone. It is governed by the Federal Reserve Board of Governors, a federal government agency, which reports to Congress. The system has three key features: a central governing board, a decentralized operating structure of 12 Federal Reserve Banks, and a blend of public and private characteristics. The Board, appointed by the President and confirmed by the Senate, provides general guidance and oversees the 12 Reserve Banks.
It reports to Congress but is not funded by congressional appropriations. The Board testifies before Congress and submits an annual Monetary Policy Report on economic developments and plans for monetary policy. The Board also makes publicly available the System’s audited financial statements and minutes from FOMC meetings.
Who owns most of the US government’s debt?
The federal government has borrowed trillions of dollars, with debt held by the public accounting for nearly 80 percent of the country’s gross debt. Domestic holders hold two-thirds of public debt, while the Federal Reserve owns about a third of domestically held debt. At the end of 2023, the nation’s gross debt reached nearly $34 trillion, with 79% held by the public, representing cash borrowed from domestic and foreign investors. The remaining $21.
7 trillion was intragovernmental debt, representing transactions between federal government departments. The held by the public (DHBP) measure is considered the most meaningful measure of debt, as it reflects the Treasury’s borrowing from outside lenders to support government activities. As of December 2023, DHBP was 97% of GDP, with domestic and foreign creditors holding about two-thirds of it.
Who controls the Federal Reserve and its member banks?
The Federal Reserve Banks operate within Federal Reserve Districts in the United States, serving banks, the U. S. Treasury, and the public. They are overseen by the Board of Governors, an independent government agency, and are private corporations accountable to the Board. The Banks are audited and reviewed by third parties. Each Reserve Bank is led by a president appointed by the Bank’s nine-member board of directors, who are familiar with the economic conditions of that region.
The Presidents meet with the Board governors at FOMC meetings every six weeks to determine the direction of interest rates to promote stable prices and inflation for optimal economic growth. The Board governors and the President of the Federal Reserve Bank of New York are permanent voting members, while four Bank presidents are voting members on a rotating basis. The Reserve Banks monitor financial risk and supervise bank and financial holding companies, as well as state-chartered banks, to ensure soundness, stability, and compliance in the financial system.
Who owns the debt on the Federal Reserve?
Debt held by the public includes federal debt held by individuals, corporations, state or local governments, Federal Reserve Banks, foreign governments, and other entities outside the United States Government. This includes Treasury Bills, Notes, Bonds, TIPS, United States Savings Bonds, and State and Local Government Series securities. Intragovernmental holdings include Government Account Series securities held by government trust funds, revolving funds, and special funds, and Federal Financing Bank securities.
The Federal Financing Bank (FFB) was created by Congress in 1973 to centralize and reduce the cost of federal borrowing and federally-assisted borrowing from the public. Obligations issued by the FFB are limited to $15 billion unless otherwise authorized by the Appropriations Acts.
Who is against the Federal Reserve?
The Federal Reserve System (Fed) has faced criticism since its establishment in 1913 for its effectiveness in managing inflation, regulating the banking system, and stabilizing the economy. Critics argue that the Fed’s policies exacerbated the Great Depression and that it contributes to economic cycles. Former Congressman Ron Paul has advocated for the abolition of the Fed and a return to a gold standard. Critics also raise concerns about the Fed’s role in fractional reserve banking, its contribution to economic cycles, and its transparency.
The Fed has been accused of causing economic downturns, including the 2007-2008 financial crisis, and being influenced by private interests. Despite these criticisms, the Fed remains a central institution in the United States’ financial system, with ongoing debates about its role, policies, and the need for reform. The Federal Reserve Act was drafted in 1910 by Republican Senator Nelson Aldrich, chairman of the National Monetary Commission, and Wall Street bankers.
Who controls the US Federal Reserve?
The Board of Governors, located in Washington, D. C., is the governing body of the Federal Reserve System, the U. S. central bank created by the Federal Reserve Act of 1913. The system includes 12 Federal Reserve Banks nationwide and performs five key functions to serve all Americans and promote the health and stability of the U. S. economy and financial system: conducting monetary policy, promoting financial system stability, supervising and regulating financial institutions, fostering payment and settlement system safety and efficiency, and promoting consumer protection and community development.
Who makes money off the Federal Reserve?
The Federal Reserve remits its net earnings to the U. S. Treasury.
Is the US Federal Reserve privately owned?
The Federal Reserve is a hybrid entity, combining elements of both public and private institutions. The Board of Governors operates as an independent government agency, while the Federal Reserve Banks function as private corporations, with member banks holding stock and earning dividends.
📹 How The Federal Reserve Works (And Who Really Owns It)
⭑ Don’t forget to subscribe! Enjoyed the vid? Hit the like button! If you enjoyed this video about The Federal Reserve and want …
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.” – Thomas Jefferson.
This article paints such a pretty picture on the federal reserve! Hahaha Just check how the act was passed on December 23 when most of Congress were away on Christmas holiday. Probably the only way they found to succeed with the act which was passed by 3 people only. How about stating that in the article? Hm, maybe it wouldn’t fit the positive vibe..
People buy a house, or car, or they borrow to maintain their businesses, or they use it for education, or they use a credit card. Look closely at a mortgage contract for example, aka promissory note. In this mortgage contract you signed in promising to pay back some alleged money with interest. But other than “VALUE RECEIVED” do you see the bank promising you anything? In your mind you correlate the “VALUE RECEIVED” with the money you actually get. You think that the bank actually took some money from deposits or excess reserves, or investors. But the bank never did such a thing. What they really did was to convert the promissory note, which is said to be a negotiable instrument, and deposited it in a special TRANSACTION ACCOUNT. This account had 0 money in it until it deposited the promissory note. As the money is paid the promissory note is worth less and less until it is completely paid and the account zeros out. If, for example, you borrowed 100.000 dollars for 30 years at 6% you will pay 116,000 dollars in interest. The bank keeps the interest paid but it does not keep the principal 100,000 dollars. This 116,000 dollars is extracted from the economy. The bank never provided any consideration. With so much money extracted from the economy, they bankers were able to monopolized ALL multinational corporations. This is concentrated power that no politician can ever counter. This is why media is basically what these financials want the working people to hear. These promissory notes are the core of the problem.
The problem is that there’s unregulated interest by this private body legally. Meaning there’s no competing banks to give bonds to the treasury department, which is a legal monopoly. This is in place so they can balance the economy by changing the interest rates, but the FED has a terrible track record since it’s inception.
The Dutch central bank worked quite differently from the Fed, and indeed the bank of England. Anyways, the Netherlands were by no means backwash, even before, so it’s not true the bank made them great. But yes, it helped finance war against Spain and expand trade. The British used their Bank as primary means of exploitation, much like the Fed today.
It was quite complex for me to understand those twelve regional banks that make up the Federal Reserve. It also surprized me how many the shareholders are but the profit of some 80 minus 13 billion dollars somehow didn’t surprize me. This is a private enterprice after all, with very skilled people that have had a century to master the art.
“People started withdrawing whatever they had, bankrupting otherwise healthy and solvent banks, simply out of fear.” Um no. If the banks had sound business practices, they would be able to uphold their promises to pay back to depositors. The banks’ act of lending money that they also owed to depositors led to their destruction, not public fear.
Thanks for the history lesson, but… this is nowhere near the full story on this article, as you didn’t mention Edward Mendall House who literally appointed the 1st members. or that they’ve never been audited or the gold standard doesn’t exist the federal reserve is part of the global banking system, just follow the royal families fed reserve is an independent entity, seperate from the US entirely fed reserve is a glorified ponzi scheme The stock market is a joke btw… I used to work at a printing press that ran the Economist and we got the magazine a week before release that had 2 week future stock trends. How could I have made tens of thousands of dollars if it wasn’t rigged, just reading a magazine…
An excellent book on the history of the United States through the central banking lens is Kennedy’s Revenge: The Election of 2016. It’s a novel but is fiction/non-fiction every other chapter. There is a footnoted version as well. Loaded with many fascinating stories such as the European central bankers killing Lincoln; and FDR starting WWII (not Hitler) at the behest of the bankers. If you like this article, the book is a PhD version.
Just a thought experiment. The main point of the federal reserve is to regulate physical currency. A bank run, is when people want all their money (in the bank making small interest gains) in their hands, when the banks are using their money as loans for interest profits. So the money isn’t there. But they want their money. Theoretically, with digital money, would this still happen? You could still uses your digital money’s value, regardless of where it is? Or is the value gone? Because it’s been loaned by the bank? And you can not use it because it’s been loaned?
Between 1913 and 2008 There have been about 21 or 22 economic pullbacks in the U.S., including two recessions within the Great Depression. Emphasis on 1913, the year of the birth of the fed. Looks as if there were nearly that many “panics” as they were known, before the beginning of the fed. This was not mentioned in the article.
I have no idea what a “lizard-person” is. But much of what gets shouted-down as “conspiracy theory”, with regard to the Federal Reserve, is actually true. Such as, most of the economic disasters America has faced, since the birth of the nation, were deliberately caused by powerful financier families, who leveraged their resources and capital to exploitative ends. Most of whom were also involved in every incarnation of central banking here in the US (naturally). Which, of course, includes the Federal Reserve. And, to compare the Federal Reserve to certain historical examples of centralized banking undertaken directly by governments, is definitely painting in too broad of strokes. The Federal Reserve is entirely private. It is in no way affiliated with the US Federal Government, outside its role as a ‘Service Provider’. The deliberate misdirection literally begins with this company’s name itself. The government appointed board is, and always has been, a token measure; entirely garnish.
A organisation like this must understand the collective consciousness based on it being higher and lower. To achieve what is beyond the knowledge but to the consequence of the whole. A reciprocal relationship between the changes made and the reaction to the changes made influence how a economy grows every year and maybe 30 times larger now 30 years ago.
The Fed should be reorganized to be solely a lender of last resort with the printing power returned to the Treasury and each year’s number of printed and minted money would be publicly announced on a quarterly basis. The private seats should be replaced with a number of Savings & Loan banks owned and operated by the several States.
I think that everything has a price and that money can be very deceptive. Over time, money has become the driving force behind our decision-making, but is just a mirage that we think is more valuable than it actually is. It’s really interesting to think about how money has evolved over time from things with a practical purpose to the digital currency that we have today. If people truly knew the true purpose of money, then I think they could possibly change their approach to life. I recently released a article that examines the evolution of money, its creation and true purpose on my website. It expands on some of the ideas that you talk about here. Great job and keep up the good work! Liked and Subscribed!
You can’t benefit by owning stock in a banking corporation, unless it pays dividends based on its profits. The value of stock itself has no connection whatsoever to the profits of the bank, it depends only on the what buyers are paying for it on the stock exchange (this has no direct connection at all to the bank’s business).
This is one of the better done fact chain expose’ on the creation of the US Federal Reserve. Some important missing details include: The initial presentation of the US Federal Reserve concept by the Federal Reserve System in 1903 to key persons in the U.S.; The 1903 presentation incorporated a 10year trial period to review its potential viability or short comings before becoming a lawful treaty; The secretive Jekyell Island meeting was a surrepticious attempt by key American Bankers “in the know”, who hoped to hijack the US Federal Reserve before the 10 year trial period became law. To the Bankers surprise a well known Monarch crashed their party and blew their plans up. They were forced to get on board with the US Fed plan or go to jail. Thereafter they worked out the US Federal Reserve guidelines; US Dollar was intentionally set as the only legally recognized international reserve currency, backed by 2,250,000 tons of private Monarch gold assets by act of international treaty; The Fractional Banking Strategy, Practices and Policies were organized and implemented as a means to protect the USD from various forms of economic sabotage by unscrupulous entities on a variety of levels; Their is no owner of the US Federal Reserve as it is considered to be a private treaty, and not a political entity subject to political law. 🌸🌟🌞🌙
By definition a U.S citizen is a ” dead entity ” congressional record.. So debt paper = debt slave.. There are plenty of court cases saying that a federal reserve note does not “pay” for anything.. It’s a debt instrument so how could anyone claim they have money when a federal reserve note is taxed before able to use such ?.. sounds like it’s a con game people..
Woodrow Wilson said “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 of a small group of dominant men.”Woodrow Wilson
So people are complaining that there is private ownership involved in our federal banking system, but it seems like changing that would not be much of a benefit to the nation. It functions, for all intents and purposes, as a central bank. Who says a central bank must be run by the government and not the public? People are just upset that some are making off with our tax money. The reality is that we’re all placing money into the pot to keep the country from going bankrupt – including the stakeholders. A small price to pay for our America.
Nothing can be created from thin air but breathing difficulties. New money is created every time someone signs a promissory note at a bank. That new money was backed by the signed promise to pay it back. Should you be the borrower then you are the one lowering the value of our currency and creating money from nothing but a promise. The fed creates a new voluntary debt slave with every loan. Your living flesh is worth only what you sell it for, no more no less. Your skills services and time of life is your product to contract with as you see fit. It’s all about the commercial viability of your skills and services. write a winning add and become wealthy selling polished turds. The government was instituted to protect our right to create our own occupation not to create occupations for all of us. The right to convert fiat currency into gold is a reality. You may buy all the gold your currency can afford. Understanding economics is easy if you change your world view. Gold is the currency of KINGS Silver is the currency of GENTLEMEN barter is the currency of peasants Debt/Credit based fiat is currency for Debt Slaves God’s currency are his children. I do fit the profile of one of God’s children. Love and respect to all without prejudice
1. Pioneering tech tycoon A legend of Silicon Age Elon Musk’s the one 2. Tesla, SpaceX and more Innovations fill the world now Unlock the future’s door 3. Blazing the path faster Than anyone has dared go Intrepid Elon Musk 4. Powering foreign lands Bringing light to ever dark A light from Elon’s hands 5. Courage to be daring Illuminated thinker Honor Elon Musk 6. Always looking forward To soaring greater heights today Today, thank Elon Musk 7. Riding on the wings Of daring industry leader Elon Musk the hero 8. Chasing goals in sight Achieving much beyond belief Elon Musk the master 9. Thinking from the start A mission to lead and charge Elon Musk’s ambition 10. Breaking walls apart With vision and skill, Elon Musk Revolutionary 11. Lightning Tesla speed Transport with earth-saving cars Elon Musk’s bright dream 12. Water to the sky High-flying rockets today Applaud Elon Musk 13. Countless packed successes Achievements come at a cost Hats off to Elon Musk 14. Big dreams come alive Tesla now drives through the clouds Thanks to Elon Musk 15. Endless possibilities Sparking the minds of the world Blessings from Elon Musk 16. Flicking the stars switch Lighting the spark of mankind That’s Elon Musk’s wish 17. Inspiring ambition Innovation to infinity Backed by Elon Musk 18. Reaching out to Mars Making what once seemed impossible The dream of Elon Musk 19. Engines of perfection Crafting vehicles of the future What a mighty Musk 20. A path of discovery Twisted with possibilities Leading to Elon Musk 21.
If you are not aware of the “difference” between “This text” “THIS-TEXT” “THIS TEXT” than you are as good as legally dead! …. “This is the director” “THIS-IS-THE-ADMINISTRATOR” “THIS IS THE DEBTOR TRUSTEE” being the Ledger, (A ledger is the slab on a tomb stone) and DOG-LATIN is the text on the tombs in the “Graveyard”
I’m 47 .since I remember .right or wrong since starting .school all I’ve done is ask questions just felt .everything at school always felt .wrong!!! .but still looking and asking told to just shut up .stop asking just to accept the way it is .so I just don’t ask anymore .been put into a mental health unit .all because I’ve asked questions never hurt anyone .but myself .so I stopped asking.famuly or friends .just to keep people I love in my life .
The man who funded the building of the titanic, J.P. Morgan, cancelled his long-awaited journey just hours before its scheduled departure. 3 of the wealthiest men on earth, whom were against the creation of the federal reserve bank, happened to be invited aboard for its maiden voyage (John Aster, Isador Strauss and Benjamin Guggenheim). It then headed full speed into a known iceberg-field, with less than half the required lifeboats, no red signal flares, no rothschilds or rockefellers on board, and sank to the bottom of the north Atlantic ocean. Less than a year later, now that the wealthy opposition was out of the way, the federal reserve was created and USA was turned into an incorporated business, with its own business id number, 28 U.S.C. 3002 15,
A few comments: – 1907 private money could come together to “save” private banks, but then it deemed “bad”? And this is why a “public” entity (aka fed) had to be created which is basically put every burden on taxpayers? – the Jekyll island thing was mentioned, but very marginally, so just that fact should have raised eyebrows (that it was done in “secrecy”) – the performances of the 2 former “central banks” (which were in fact private banks with government given privileges) were left out, as if they performed well, but stupidity was the only reason they vanished. – a broader view of paper money and the fractional lending system should have been talked about, and that inflation is built in the system, which gives leverage to bankers but discourage savings and eventually banks are “saved” by the public anyway (through the fed = quantitative easing) causing inflation. – no mention of the gold standard (which was abolished further removing barriers to print paper) – no mention of the 1929-33 recession, how well the fed was doing (looking back the 1 thing the fed was supposed to do it didn’t do)
Do you realize you called a private institution that controls the country’s money supply and profits off of it and absorbs all the assets of failing business as beautiful for something that they’re able to create out of thin air. I get the economic stability and progress it brought but what about the moral contradiction of controlling the thing that everybody needs and the favoritism that goes with it? Not to mention the current state of the separation of class due to the monopolization enabled by this paradigm
The greatest scam ever pulled off was fractional reserve banking. The issuance of paper notes to replace the burdensome practice of physically transporting gold or silver was a long held practice of the silver and gold exchangers. Notes that would be honored by their brethren in different cities. One day a light bulb went off – since the king or queen never actually ask for all their gold or silver back, what if we issue paper notes backed by a fraction of all the royalty’s gold or silver? Suddenly the money changers controlled the “money supply” which could be used to buy real assets and could be lent at interest. The wealth of the royals and aristocrats was over time dwarfed by the wealth of the bankers – riches created like ether out of thin air…..
Paul Warburg was not American at all. He was a Rothchild agent from Germany. The other part, NOT mentioned is that the FED answers to the greater Bank of International Settlements in Basle, Switzerland. It is the center of all central banks. Also something most people are unaware of: the BIS was chartered by two good buddies: Montagu Norman, governor of the Bank of England and Hjalmar Schecht who is credited as being the primary money conduit to the rise of the Nazi party. Go figure.
More people need to be educated on this… A private BANK controls your economy!!! It is NOT a government entity!!! Imagine being able to print money and call it something fancy like “quantitative easing” for “stimulating economic growth”… And then when that leads to inflation you swoop in to “correct” the problem you created!!! And call it something fancy… “quantitative tightening”… Basically using the same money you printed to BUY assets under the excuse that it helps reduce the inflation YOU CREATED!!! And subsequently the value of your dollar is decided by this BANK!!! They can make it worthless by simply controlling the printing of money as well as the interest rates! The amount of corruption is UNREAL. P.S… Look up “the great reset” for some more BS!
There is an extent of exploitation as member commercial banks of privately corporated federal reserve bank have their cuts on every penny printed or earned by Federal reserve bank this may be perceived as cost to get rid of politicization of commercial banks In Pakistan we had finance minister ishaq dar who in order to potray ecnomic growth as part of his political campaign he increased government spending by printing more money and devised import centric policies which caused current account deficit and inflation to increase
I feel this article is very misleading about the depressions before the Fed was established. The Fed was established in 1913 then came the great depression in 1929… the worst depression the modern world has ever known! Read Murray Rothbard’s, Americas Great Depression which explains the Fed’s involvement in the Great Depression among other government interventions.
wow. this article makes a cartel of rich bankers, creating in secret a completely private central bank, writing its entire policies in secret. Sound like just your normal every day work done by your friendly neighbourhood billionaires. Nothing to worry about here. no conspiracy. it’s just normal rich people behavior.
you are wrong. This article is missing out to mention BIG points that matter. Hope everyone does their research and sees for them self that banks wanted a central bank that would give them extremely favorable laws for SPECULATION. This means that the bankers had an incentive to cause panics and civil unrest so that everyone would think that a central bank is a good idea. Look it up, there is more about it than you think. Check out Aaron Russo talking about the fed and you will get the bigger picture that this article miserably(intentionally?) fails to show.
“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 of a small group of dominant men.” – Woodrow Wilson After signing the federal reserve act 1913.
Hello, this is an incredible piece of work and is very educational. I am a television producer for San Francisco Public Access. Our work is done only for educational purposes. We are producing a 22-minute article. Can we use some of our clips to enhance our article. We will certainly give you whatever credit you need. Thank you so much for your assistance. Myrna Lim
You got most important things wrong. Firstly the call for as ventral bank want because the us economy was especially unstable. While banking crisis happened they weren’t as bad as places with central banks. The real reason for instability was government monkeying with the money supply. Another reason read that government allowed banks to chat their customers by not giving them their hold back of they were in trounle which encourages bank rings. America’s reluctance want based on the fact that central banks were British but with their proven record of encouraging corruption and war. Then ventral bank is not owned by the banks of calling a bond as share didn’t make it a share. It is owned by the government of you use GAAP standards.