Federal Reserve & U.S. Currency

I do apologize for my recent post. I wished to quote a text for an introduction to some ideas and thoughts I've been having lately to get a more expert opinion or simply a contrasting opinion or balanced view.

My general concern is, what is U.S. currency worth if it's not backed by gold or silver? Doesn't it seem to be a perpetual pyramid scheme, where as long as everyone believes everything is ok and that it's more than paper, It will be?

Also, how can you trust a privatized centralized banking system (Federal Reserve in the U.S.) that charges the government interest to print it's own money? Who's money is it then?

Also, can this same entity that has the ability to create inflation be trusted?

It has the ability to create a need for more money yet at the same time, the ability to create that money from literally thin air and charge a fee for it.

Is this not perplexing.


Again, I do apologize for posting the text earlier to..

www.john-f-kennedy.net...

The reason I did it was for two reasons:

1. Who knows when the website may take down the information

2. I assume most people won't click on it or read it



[edit on 13-3-2005 by Lord Altmis]

Originally posted by Lord Altmis
Again, I do apologize for posting the text earlier to..

www.john-f-kennedy.net...

The reason I did it was for two reasons:

1. Who knows when the website may take down the information

2. I assume most people won't click on it or read it

Hey, it's no problem. Thank you for understanding and taking direction in the spirit intended. It's an interesting subject and right up our alley (it will get clicked). And may be fleshed out by members with snippets of the material posted as a quotation (which you may do as well to a certain extent). So no worries. Welcome and thanks.

Lord A, good find.
I've seen that piece on JFK and the Fed before.
The Fed has much more power than we Americans know. The article you cited alludess to a possible connection between JFK's death and his attempt to abolish the Fed.

Wasn't Lincoln the last President to try to stand up to the Fed? I think he felt we should be able to print our own money?

I appreciate the feedback on this and greatly appreciate this message board for giving me the opportunity to share my questions. I hope to get a good amount of response on this, and given I have experience in the financial area, I assure you I can offer an interesting discussion on it.
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Some interesting theories from the text include:

"Kennedy knew that if the silver-backed United States Notes were widely circulated, they would have eliminated the demand for Federal Reserve Notes. This is a very simple matter of economics. The USN was backed by silver and the FRN was not backed by anything of intrinsic value. Executive Order 11110 should have prevented the national debt from reaching its current level (virtually all of the nearly $9 trillion in federal debt has been created since 1963) if LBJ or any subsequent President were to enforce it. It would have almost immediately given the U.S. Government the ability to repay its debt without going to the private Federal Reserve Banks and being charged interest to create new "money". Executive Order 11110 gave the U.S.A. the ability to, once again, create its own money backed by silver and realm value worth something."

This would suggest that the president knew that the currency was weak or unsupported or he wouldn't have made such an effort. And if so, it is still weak today, just not acknowledged.
-----------------

"The FED basically works like this: The government granted its power to create money to the FED banks. They create money, then loan it back to the government charging interest. The government levies income taxes to pay the interest on the debt."

This would suggest that had JFK been successful, taxes would be lower and government would have less cashflow to access.

-----------------

Ten days before his assassination, President John Fitzgerald Kennedy allegedly said:

"The high office of the President has been used to foment a plot to destroy the American's freedom and before I leave office, I must inform the citizen of this plight."

This obviously is unsupported since it's an allegation. But would be interesting to note none the less.

[edit on 13-3-2005 by Lord Altmis]

"Now, who do you think is responsible for all of the ups and downs in our economy over the last 85 years? Think about the depression of the late '20s and all through the '30s. The FED could have pumped lots of debt/money into the market to stimulate the economy and get the country back on track, but did they? No; in fact, they restricted the money supply quite severely. We all know the results that occurred from that action, don't we?

Why would the FED do this? During that period asset values and stocks were at rock bottom prices. Who do you think was buying everything at 10 cents on the dollar? I believe that it is referred to as consolidating the wealth. How many times have they already done this in the last 85 years?

Do you think they will do it again?

Just as an aside at this point, look at today's economy. Markets are declining. Why? Because the FED has been very liberal with its debt/credit/money. The market was hyper inflated. Who creates inflation? The FED. How does the FED deal with inflation? They restrict the debt/credit/money. What happens when they do that? The market collapses."

This is a very interesting point. It underlines the fact that the Federal Reserve operates like a for profit company and a lot of questions arise.

Why would government/politicians support such as system? Perhaps because borrowing funds and paying interest on those funds would increase taxes. Increasing taxes would create more cashflow and more cashflow means more access to larger amounts of money.

It also suggests the idea that wars are profitable for the Federal Reserve. If the government is willing to take on a lot more debt for war with interest, then the Federal Reserve will gladly oblige. But would it perpetuate such an event? That would suggest that wars tend to happen after economic downturns, which they do. I'm sure many people have asked, had a country pour the same amount of money (borrow money) from a war into economic growth and innovation, if the country would be stronger. Yet most countries never do. It's generally economic downturn, then war, as if the Federal Reserve or banking systems would rather fund a war than innovation after a downturn.

So it could be said that inflation (a weak dollar), relatively high unemployment, war, are all great for a privatized Federal Reserve system.

The long term problem could become, it's not about how strong the dollar is, but rather how many dollars there are or needed, and the interest or profit realized.

www.worldnewsstand.net...

"THE FEDERAL RESERVE BANK IS A PRIVATE COMPANY.

Article 1, Section 8 of the Constitution states that Congress shall have the power to coin (create) money and regulate the value thereof. Today however, the FED, which is a privately owned company, controls and profits by printing money through the Treasury, and regulating its value.

The FED began with approximately 300 people or banks that became owners (stockholders purchasing stock at $100 per share - the stock is not publicly traded) in the Federal Reserve Banking System. They make up an international banking cartel of wealth beyond comparison (Reference 1, 14). The FED banking system collects billions of dollars (Reference 8, 17) in interest annually and distributes the profits to its shareholders. The Congress illegally gave the FED the right to print money (through the Treasury) at no interest to the FED. The FED creates money from nothing, and loans it back to us through banks, and charges interest on our currency. The FED also buys Government debt with money printed on a printing press and charges U.S. taxpayers interest. Many Congressmen and Presidents say this is fraud (Reference 1,2,3,5,17).

"Who actually owns the Federal Reserve Central Banks? The ownership of the 12 Central banks, a very well kept secret, has been revealed:

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"

"How did it happen? After previous attempts to push the Federal Reserve Act through Congress, a group of bankers funded and staffed Woodrow Wilson's campaign for President. He had committed to sign this act. In 1913, a Senator, Nelson Aldrich, maternal grandfather to the Rockefellers, pushed the Federal Reserve Act through Congress just before Christmas when much of Congress was on vacation (Reference 3, 4, 5). When elected, Wilson passed the FED. Later, Wilson remorsefully replied (referring to the FED), "I have unwittingly ruined my country"

Originally posted by Lord Altmis
I appreciate the feedback on this and greatly appreciate this message board for giving me the opportunity to share my questions. I hope to get a good amount of response on this, and given I have experience in the financial area, I assure you I can offer an interesting discussion on it.

Sorry, I'm not contributing to the discussion per se, but I did want you to have the opportunity to see the search feature for ATS as well (see tabs links), as many members have defintiely posed questions on the Federal Reserve before and you might like to respond.

Try a recent search of the last year or so with just Federal Reserve in the Subject header. Then click on returns for more.

"Presidents Lincoln, Jackson, and Kennedy tried to stop this family of bankers by printing U.S. dollars without charging the taxpayers interest (Reference 4). Today, if the government runs a deficit, the FED prints dollars through the U.S. Treasury, buys the debt, and the dollars are circulated into the economy. In 1992, taxpayers paid the FED banking system $286 billion in interest on debt the FED purchased by printing money virtually cost free (Reference 12, P. 265). Forty percent of our personal federal income taxes goes to pay this interest. The FED's books are not open to the public. Congress has yet to audit it."

This is probably the most fascinating thing I have found. Two presidents who were killed just happened to oppose the fed and the other one was nearly killed, an attempt was made. Also Imagine taxes being cut in half.

The scary thing about US currency is that every single currency in the history of the world that was not backed by gold before 1972 is now worthless!

If I ever come into a large amount of money, I'm going to put a nice chunk of it in Gold. Because unless there's a new invention that I'm not aware of, you can't create more gold then is already on the planet.

Originally posted by RANT

Originally posted by Lord Altmis
I appreciate the feedback on this and greatly appreciate this message board for giving me the opportunity to share my questions. I hope to get a good amount of response on this, and given I have experience in the financial area, I assure you I can offer an interesting discussion on it.

Sorry, I'm not contributing to the discussion per se, but I did want you to have the opportunity to see the search feature for ATS as well (see tabs links), as many members have defintiely posed questions on the Federal Reserve before and you might like to respond.

Try a recent search of the last year or so with just Federal Reserve in the Subject header. Then click on returns for more.

That's ok.

I'm just kind of rambling on some stuff, just to see what people think on stuff I've found or bring to light. Most people may already know all this, some may find something new to think about. I find it very interesting personally.

Altmis, thoughts on Greenspan? Without digging up links (I can get later) I can attest he's a former staunch advocate of returning to the gold standard, a libertarian minded minarchist (of Ayn Rand's intellectual circle) and is suspected now (by many) of seeking to purposefully destroy the Fed.

Any relation? He is the most powerful man in America related to all this by any standard I would think. Or has he gone to the dark side?

[edit on 13-3-2005 by RANT]

The |Federal Reserve is NOT a private company. It is a quasi governmental organization with the board of governors nominated by the President and approved by Congress, just like the cabinet members and the judiciary.

Originally posted by RANT
Altmis, thoughts on Greenspan? Without digging up links (I can get later) I can attest he's a former staunch advocate of returning to the gold standard, a libertarian minded minarchist (of Ayn Rand's intellectual circle) and is suspected now (by many) of seeking to purposefully destroy the Fed.

Any relation? He is the most powerful man in America related to all this by any standard I would think. Or has he gone to the dark side?

[edit on 13-3-2005 by RANT]

I haven't heard of him wishing to destroy the Fed, which going to a gold backed system would do so I think.

I know that he has a history of openly lying on economic conditions. Before a major government report was released in 1987 to the public he gave a bright outlook and when it was released, it was one of the worst reports in its history. (That is like a company giving guidance that earnings look good, and then reporting a terrible loss. They would be investigating for misleading the markets.)

Then the treasury secretary, Baker, announced on a following weekend that he would not support the dollar because Germany wouldn't tighten it's monetary policies. That Monday, right after that weekend's announcement by Baker, the crash of 1987 occured. Oct. 19, 1987.

Then the tech bubble, Greenspan while being questioned said he didn't feel we were in a bubble per say. Then after the bubble bursted, admitted he knew the bubble would eventually burst.

I guess you could say he had no choice but to show such a view. Another look would show he may tell you what you want to hear.

[edit on 13-3-2005 by Lord Altmis]

Originally posted by Off_The_Street
The |Federal Reserve is NOT a private company. It is a quasi governmental organization with the board of governors nominated by the President and approved by Congress, just like the cabinet members and the judiciary.

Just because the government appoints the workers doesn't mean it isn't a private company. Perhaps, given the rare circumstances, I can see how it could be argued based on that criteria because what other organizations are like it?

-------------------------------
Here are some interesting views around that:

"The FED began with approximately 300 people or banks that became owners (stockholders purchasing stock at $100 per share - the stock is not publicly traded) in the Federal Reserve Banking System."

Private companies have shareholders or owners and to tell who owns the private company, simply look at who the shareholders are. It's not "U.S. Government 300 shares" on the ownership documents.

--------------------------------
Although there is a buyout/acquisition clause alledged:
"The U.S. Government can buy back the FED at any time for $450 million (per Congressional record). The U.S. Treasury could then collect all the profit on our money instead of the 300 original shareholders of the FED."

If it's not a corporation, why would interest be charged against our government for a profit and go to the shareholders.

Can a non corporation make a profit? Keep the profit, distributing it among it's shareholders and then not pay taxes on that profit.

In an economic downturn, why loan to the people and get taxed when you can loan to the government tax free with less risk, in high amounts during war. Then fund the war on the other side as well since the shareholders are banking families who own and fund governments and warfare corporations internationally.

If they want a war, they can create one, they own large stakes in major media sources. It's the perfect for profit operation. It's definitely a company. Governments have a percieved responsibility to the people first. Companies answer first to shareholders. Earnings drive companies.

[edit on 13-3-2005 by Lord Altmis]

I find the Federal Reserve to be creepy. I was discussing it with someone else the other day and he directed me to here. www.libertydollar.org...

I don't know what to make of the Liberty Dollar, but it sounds nifty. The only real drawback seems to be that it's a private currency like Betty Crocker points or frequent flyer miles (except backed by silver) so banks aren't going to accept it, and larger franchises tend not to take it either, but apparently the little businesses have no problem accepting payment in silver coins.

Originally posted by BeefotronX
I find the Federal Reserve to be creepy. I was discussing it with someone else the other day and he directed me to here. www.libertydollar.org...

I don't know what to make of the Liberty Dollar, but it sounds nifty. The only real drawback seems to be that it's a private currency like Betty Crocker points or frequent flyer miles (except backed by silver) so banks aren't going to accept it, and larger franchises tend not to take it either, but apparently the little businesses have no problem accepting payment in silver coins.

I'm telling you, this is all your fears come to life. You could shut down all the other forums and create one simply on the Federal Reserve and it would encompass and tie in all your fears. It has all the elements.

Political/Presidential Assassinations
War for profits
Secret Societies and organization profiting on policies/information
New World Order, moving to a cashless (watchable/taxable) society
Military & Government Facilities (if you fund goverments, you own them)
Occult symbolism on federal reserve currency

* Thought control and double speak (if you own media, you own news)
Think about it, if tv programs will refrain from saying bad things about a major sponsor or advertiser, what type of negative coverage will they give to an owner? You would be lucky to get a so called, "fnord".

The list goes on.

Also, if you want to review leading investor sentiments on the dollar, research Warren Buffet (2nd richest in the U.S.) stockpiling silver and George Soros' outlook on the dollar. Soros and Buffet are said to be currently betting against the dollar. And have been making a killing lately I'm sure as the U.S. dollar keeps hitting new lows.


[edit on 14-3-2005 by Lord Altmis]

Altmis says:

"Just because the government appoints the workers doesn't mean it isn't a private company."

Using that same argument, you can say the Congress or the Supreme Court, or the Joint Chiefs of Staff "could be" private companies, too -- but they aren't.

Of course, if the Fed is a private company, then why would it let the Executive and Legislative branches of government, through constitutionally accepted enabling legislation, apooint its leaders, like it does for the cabinet?

You are familiar with the constitutionality of "enabling legislation", aren't you?

"Perhaps, given the rare circumstances, I can see how it could be argued based on that criteria because what other organizations are like it?"

There aren't that many, except for oufits like FRDMC, FNMA, etc.

"The FED began with approximately 300 people or banks that became owners (stockholders purchasing stock at $100 per share - the stock is not publicly traded) in the Federal Reserve Banking System."

Do you have any evidence for your assertion? I certainly cannot see it! Show me your evidence, Altmis!

"Private companies have shareholders or owners and to tell who owns the private company, simply look at who the shareholders are. It's not "U.S. Government 300 shares" on the ownership documents."

If only "Private companies have shareholders or owners", then what do you call me? I own US savings bonds, and I own shares in a mutual fund taht buys Treasury bonds. Aren't they "shares of stock"?

And where are these "ownership document"? Obviously, you've seen copies of them, otherwise you wouldn't tell us about them, right?

"Although there is a buyout/acquisition clause alledged: "

You say "alleged"? In other words, you have no evidence for such a thing, but you're quoting alleged information as if it were true?

C'mon, Altmis, play it straight with us! I could say "it is alleged that Altmis is the grandson of Adolf Hitler", too, but that wouldn't make you any such thing!

"If it's not a corporation, why would interest be charged against our government for a profit and go to the shareholders."

Interest is not charged to the government, it (the Discount Rate) is charged to the member banks who borrow from it. And remember, the Federal Government pays interest as well, on its securities and obligations like savings bonds. Does the fact that you have US Savings bonds make the Government a Private Corporation, too?

"Can a non corporation make a profit?"

Of course! Proprietorships, partnerships, and governments all can make profits.

"Keep the profit, distributing it among it's shareholders and then not pay taxes on that profit."

The Fed neither keeps the profits nor distributes it among its "shareholders"; it turns it over to the General Fund, just like the taxes, import duties, tarriffs, etc. which the Federal Government collects.

Altmis, I suggest you go to the Fed website and see what they have to say. I'd also suggest you take a course in macro-economics; your views of the government and its relationship to the economy simply aren't true.

Now don't get me wrong; I am not a big fan of the Fed. I don't like the idea of government intrusion of any kind in our lives; as a laissez faire believer, I distrust John Maynard Keynes and the Fed both. As a matter of fact, I don't even like the concept of frational reserves, although I gotta admit that it works. But the Federal Reserve and its role is simply not what you've been led to believe it is.

Not at all.

Originally posted by Lord Altmis
I do apologize for my recent post. I wished to quote a text for an introduction to some ideas and thoughts I've been having lately to get a more expert opinion or simply a contrasting opinion or balanced view.

My general concern is, what is U.S. currency worth if it's not backed by gold or silver? Doesn't it seem to be a perpetual pyramid scheme, where as long as everyone believes everything is ok and that it's more than paper, It will be?

Also, how can you trust a privatized centralized banking system (Federal Reserve in the U.S.) that charges the government interest to print it's own money? Who's money is it then?

Also, can this same entity that has the ability to create inflation be trusted?

It has the ability to create a need for more money yet at the same time, the ability to create that money from literally thin air and charge a fee for it.

Is this not perplexing.


Again, I do apologize for posting the text earlier to..

www.john-f-kennedy.net...

The reason I did it was for two reasons:

1. Who knows when the website may take down the information

2. I assume most people won't click on it or read it



[edit on 13-3-2005 by Lord Altmis]

Congratulations Lord Altmis !!!!
You are onto something few Americans know about. Something that is illegal to be taught in school.

It goes like this:

There are tons of secret societies. Even secret societies within secret societies. Secret societies controling other secret societies. It's just like a huge mega-pyramid of secret societies. There's also many offshoots of secret societies. At the top is the Illumanatti. Below them are the Knights Templar. Below them are the Freemasons. Right after the USA won its independence, George Washington (who was a member of a secret society) was elected (seclected) to be the first president. He was approched by a Templar-related secret society, and agreed to make a special Bank. A privatly owned, central bank.

The American constitution states the US goverment has the power to print its own money, but is not the ONLY one that can print US money. 99% of Americans don't think about this.
The US went from having almost no debt, to getting deeper into debt. Because the goverment was not printing its own money. A seperate, privatly owned bank, was printing American money, then loaning it to the goverment, and charging intrest!. The people behind this were litterally making money and profits out of thin air!

The American people back then were a different breed, they had big balls! Washington faced getting his a s s kicked by the public, and was forced to dissolve the privatly owned bank that was printing American money. Washington was forced to have the goverment print its own money.

******

Time passes. Abraham Lincoln comes on the scene. The secret societies were mad their plan was stalled by the American population who took seriously their duty to watch the goverment. They first cause the American Civil war
(look up the history of Caleb Cushing and Albert Pike. Both were members of the same secret society, even though Cushing was funding the Northern army, and Pike was funding the Southern army. Cushing and Pike regularly met in Paris before, during, and after the American Civil war.).
They caused the American Civil war to bankrupt America, which would force the goverment to need more money.
(another "positive" side effect of the Civil War, for the secret societies, was it helped kill off a BIG amount of the early breed of Americans who had big balls, many who were young enough to remember the Revolutionary war, or who had living relatives who remembered it. See the movie "Gangs of NY" Bill the Butcher has a famous line when he talks about what's wrong with Americans "They don't have any sand anymore".)
They approached Lincoln with the same plan they told Washington to do.

Lincoln saw where it would head - with the USA racking up a national debt. Lincoln said "Ya know what? I really am a patriot! NO!" and he then had the US goverment print up it's own money.
The secret society (Knights of the Golden Circle) had Lincoln knocked off for refusing. They later changed their name to the KKK, to avoid any heat from knocking off the president. ("Klu Klux" comes from Greek word "kuklos" for "circle". The KKK is also known as the "Knights". So its just a loose synonym for their former name KGC).
The KGC changed its name, because there were still a big amount of the American population who had sand, who had big balls. Who still tried to keep a constant watch over goverment. The KKK then did one of the best ever propaganda campaigns in the history of the world! They hid their true past, and intentions, behind the smokescreen of racism, hatred for Jews, Asians, Indians, and other groups. The WHITE men fell for it!

A few years after Lincoln was knocked off, some of their plan was put into motion. They got a president to form an early version of the Federal Reserve/a privately owned central Bank. The problem was the majority of American money (that was earlier printed by the Goverment itself) was still in circulation. Plus it was still on the gold, and precious metals, standard.

*********

Then in 1913 (it might have been 1917, cuz I'm going by memory) the secret society, which had more members in the goverment, held a big, big, meeting. It was while the majority of the other branches were on vacation. They passed a new bill/law with zero opposition (same sneaky way Patriot Act I, Patriot Act II were passed). This new item formed our modern day Federal Reserve. Even though the word "Federal" is in the name, it is NOT owned or related to the goverment! It is a 100% privatly FUNDED, CREATED, and OWNED institution!. The money to create it came from the private sector.

The privatly owned Federal Reserve prints up money, then loans it to the goverment. And charges intrest!. Which of course racks up a national debt. It was full steam ahead.

************************

WWI almost immediatly happens. (The plans for it were already formed before 1914) It was another creation of the secret societies. And again, a "positive" side effect of it was it got rid of a BIG amount of that early breed of Americans. Americans who had sand, big balls. Who either had, or when they were younger knew, relatives who were alive during the American Revolution.

**************************

The final lock, stock, and smoking barrel, came during FDR, when he had all Americans turn in the gold, and precious metals they owned!!!. Now America was 100% at the mercy of the secret societies. Americans were using paper money, printed up by a privatly owned bank (the Federal Reserve), which was charging the goverment intrest for loaning the money to the goverment. In addition Americans now no longer owned any gold coins, or other precious metals (silver coins, bronze coins, on and on.)... because FDR made it illegal.

********************

Almost immediaty after this final lock... WWII happens. And yep, a "positive" side effect of this was it got rid of any remenant of those early breed of Americans. After WWII the majority of any remenant of those early breed of Americans were killed off. Americans who 100% fit the true definition of a WHITE man. (All caps baby! Not just a capital "W".) A true WHITE man doesn't give a f---. Someone tries to mess with him, he acts. He kills, even if he knows he'll get hurt or killed. He will go to a politician's home, drag him out, and tar and feather him... in public! A WHITE man isn't a noun, its an adjective. (For example even the black Americans before the 1940's were "WHITE" men. They acted. 99% of Americans in present time don't know the story about black Wall Street, and how those early breed of black Americans who had the mindset of WHITE men, owned an entire state. Set up an economy soooo incredibly strong, it was equal to Wall Street, and was on track to eclipsing Wall Street. But that's subject for a new thread heheh.)

So WWII killed the majority of the remenants of what was left of WHITE men. That early breed of the American population. This made it less likely what happened to the privatly owned central during George Washington... would never happen ever again.

*****************************

Our man J.F. Kennedy comes on the scene. He saw what was going on and said "OMG! WTF is this?! Know what? I'm a second generation imigrant. My mother went through crazy racism!" (yep the IRISH experienced RACISM in the USA. They were called "N---ers turned inside out" and were spit on.) "I really do believe in America! I really am a true patriot! I'm not down with this plan! I'm going to re-value American money!".
Kennedy then had the goverment go back to printing up its own money. Money using precious metals!. Silver dollars, silver quarters. This cut the national debt, made it nosedive. The secret societies were not happy. Their scheme and plan was being derailed. They had Kennedy knocked off.

(If you watch the ENTIRE video of Kennedy getting killed, his car had zero bodyguards around it when he got hit! Not a single bodyguard, secret service, was anywhere near Kennedy. Before he gets hit, the car behind him has crazy amounts of bodyguards surrounding it! There's still picture of this in the book "The Biggest Secret" by David Icke.)

**********************

It took a few years, but the money the goverment printed up itself (under Kennedy) was gradually taken out of circulation. It's super rare to find a silver dollar, silver quarter in circulation.
And the show the secret societies started, went on! Right now present time, the goverment doesn't print up its own money. It instead takes loans from the privatly owned Federal Reserve, and pays intrest on money the Federal Reserve prints up. This is the source of 95% of the national debt. Yep, the national debt is totally unnecessary!

Sooo....... that's what the Federal Reserve and US currentcy is all about.

[edit on 14-3-2005 by OpenSecret2012]

[edit on 14-3-2005 by OpenSecret2012]

"Who Owns the Federal Reserve Bank of New York?

Each of the twelve Federal Reserve Banks is organized into a corporation whose shares are sold to the commercial banks and thrifts operating within the Bank's district. Shareholders elect six of the nine the board of directors for their regional Federal Reserve Bank as well as its president. Mullins reported that the top eight stockholders of the New York Fed were, in order from largest to smallest as of 1983, Citibank, Chase Manhatten, Morgan Guaranty Trust, Chemical Bank, Manufacturers Hanover Trust, Bankers Trust Company, National Bank of North America, and the Bank of New York (Mullins, p. 179). Together, these banks owned about 63 percent of the New York Fed's outstanding stock. Mullins then showed that many of these banks are owned by about a dozen European banking organizations, mostly British, and most notably the Rothschild banking dynasty. Through their American agents they are able to select the board of directors for the New York Fed and to direct U.S. monetary policy. Mullins explained,

... The most powerful men in the United States were themselves answerable to another power, a foreign power, and a power which had been steadfastly seeking to extend its control over the young republic since its very inception. The power was the financial power of England, centered in the London Branch of the House of Rothschild. The fact was that in 1910, the United States was for all practical purposes being ruled from England, and so it is today (Mullins, p. 47-48).

He further commented that the day the Federal Reserve Act was passed, "the Constitution ceased to be the governing covenant of the American people, and our liberties were handed over to a small group of international bankers" (Ibid, p. 29).

Unfortunately, Mullins' source for the stockholders of the New York Fed could not be verified. He claimed his source was the Federal Reserve Bulletin, although it has never included shareholder information, nor has any other Federal Reserve periodical. It is difficult researching this particular claim because a Federal Reserve Bank is not a publicly traded corporation and is therefore not required by the Securities and Exchange Commission to publish a list of its major shareholders. The question of ownership can still be addressed, however, by examining the legal rules for acquisition of such stock. The Federal Reserve Act requires national banks and participating state banks to purchase shares of their regional Federal Reserve Bank upon joining the System, thereby becoming "member banks" (12 USCA 282). Since the eight banks Mullins named all operate within the New York Federal Reserve district, and are all nationally chartered banks, they are required to be shareholders of the New York Federal Reserve Bank. They are also probably the major shareholders as Mullins claimed."

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12 USCA 281

"No Federal reserve bank shall commence business with a subscribed capital less than $4,000,000."

www.law.cornell.edu...

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12 USCA 282

"Every national banking association within each Federal reserve district shall be required to subscribe to the capital stock of the Federal reserve bank for that district in a sum equal to 6 per centum of the paid-up capital stock and surplus of such bank, one-sixth of the subscription to be payable on call of the Board of Governors of the Federal Reserve System, one-sixth within three months and one-sixth within six months thereafter, and the remainder of the subscription, or any part thereof, shall be subject to call when deemed necessary by the Board, said payments to be in gold or gold certificates."

www.law.cornell.edu...

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12 USCA 283

"No individual, copartnership, or corporation other than a member bank of its district shall be permitted to subscribe for or to hold at any time more than $25,000 par value of stock in any Federal reserve bank. Such stock shall be known as public stock and may be transferred on the books of the Federal reserve bank by the chairman of the board of directors of such bank."

www.law.cornell.edu...


www.sharelynx.com...

This is a quote from the link in the first post:

It seems very apparent that President Kennedy challenged the "powers that exist behind U.S. and world finance".

Some one else already posted that this ENTRE site AboveTopSecret.com
could make just 1 forum dedicated to this one subject. Because it covers everything else on all the forums at this site.

It IS documented what and who "the powers that exist" really are. Secret societies. And offshoots of secret societies.

I suggest anyone TRUELY intrested in the root of this subject, in the root of the Federal Reserve, go get and read the book "The Biggest Secret" by David Icke.
Icke lists all his sources which can be looked up, checked on, showing they are all irrefutable. Icke goes into brutal, graphic, detail about this subject in that book!
Another book by Icke to read is "And The Truth Shall Set You Free" which also covers this subject.