how many are willing to admit they still use the big banks?

reply to post by rubbertramp


thats all well & good... for the Idealist

i however am satisified with free services at Bank-of-America...i have had undeserved fees imposed on me in the 15 years since BAC took over the Nations Bank that my account once was in... but those fees were replaced into my account after some haggling with the customer-rep at the main office here in 29577


Whenever BoA starts shafting me, i will go through the long & involved procedures of transferring my automatic Direct Deposits to the new bank facilitator...and renew my automatic payments ASAP


but in the meanwhile, i will stay on the 15 yo grey nag i've been riding all along


thanks

sorry OP, i know better than to use a commercial bank ... they are for criminals thru and through.
although, i did participate in Bank Transfer Day by convincing 2 other persons to move away from their BoA madness and boy are they happy too.

no more headaches, no more random fees for poor posting practices, no more lousy customer service and a bonus cause now they have interest earned, even on their measly

Originally posted by Honor93
reply to post by stumason

 

are you joking ??? i sure hope so cause if not, this quote ...

Even the myth about the Fed Reserve being privately owned is exactly that. It is owned by the Federal Government and all profits go to the Fed Government...

is the biggest bunch of baloney ever.

The FR has NEVER, ever ... in the history of its existence ... been a government agency or entity, they are not owned by, managed by nor have they ever been at the mercy of the US government ... NOT ever.

profits go to their shareholders, a majority of whom were 'British' btw, at least from the last Congressional filing i've seen. can't say who they currently are as Congress has since exempted them from reporting such information.

So, what the Federal Reserve is ... is a private corporation with sole loyalty to their shareholders of whom are intentionally kept from the public view, public inquiry and public record. They make the rules, they provide the game (currency) and they collect any and all royalties along the way.

And as a side note, if we the people find a way to diminish their earnings, they just simply steal it from the taxpayers, one way or another ... nothing new there, either.

No, I'm not joking. Forget Alex Jones and others like him, the US Government owns the Fed. In 2010, out of the $80 odd billion the Fed made in profit, some $70 billion went to the US Treasury, the rest kept by the bank as liquidity. If you have actual proof, not a blog by some wierdo, but actual proof, I would like to see it.

According to the Board of Governors, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government." Its authority is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight.

The members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by Congress. The government also exercises some control over the Federal Reserve by appointing and setting the salaries of the system's highest-level employees. Thus the Federal Reserve has both private and public aspects.

The U.S. Government receives 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. In 2010, the Federal Reserve made a profit of $82 billion and transferred $79 billion to the U.S. Treasury.

All you're doing is parrotting the tired old conspiracy angle that the UK still runs the US, that the Queen owns your land, you're only a chartered corporation and you're subject to maritme law. Seen it, read it all over ATS for years, but the theory never stands up to any kind of scrutiny and is the fanciful paranoid delusion of a fringe group.

I bank with B of A.... is that a big bank?

According to the Board of Governors, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government." Its authority is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight.

this shows that it is NOT a part of government.
just that govn't can oversee the fed.

According to the Board of Governors, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government."

independant within government means seperated from, not the same,.

reply to post by rubbertramp


What the other guys said was "The FR has NEVER, ever ... in the history of its existence ... been a government agency or entity, they are not owned by, managed by nor have they ever been at the mercy of the US government ... NOT ever"..

I have just shown ALL of the above to be rubbish. It is owned by the USG, is overseen by the USG and the Senior management are appointed by the President himself, with the profits going to the USG.

Prove me wrong

EDIT: I also never said it was PART of the Government. You're putting my words in my mouth to try and score a lame point. Epic fail..

Not all posters are in America and not all posters have access to credit unions. Also even credit unions have had their problems.

I have a locked in ISA that I can't get out till next year, a small amount in another ISA and a current account that I'm working on keeping to a minimum. But I do need it for credits, standing orders etc.

Except for lunatic "OWS" Communists, banks are perfectly ordinary institutions that offer services which you can either make good use of or reject. Its your choice. What psychotics believe is that banks are forcing them to open a bank account or partake in any of their services.

reply to post by Honor93

i know better than to use a commercial bank ... they are for criminals thru and through.

I have to call you on this statement.

I respect and understand your position about not liking to bank with the big banks. But to categorize commercial banks as "for criminals" is going a bit far. If you said "run by criminals" that would be different.

reply to post by starchild10


As you mention ISA's, I assume you're in the UK?

If so, we have Credit Unions too, but I don't know much about them. Google is your friend I suppose.

reply to post by stumason

Q;Federal Reserve Bank Ownership

A: There are actually 12 different Federal Reserve Banks around the country, and they are owned by big private banks. But the banks don’t necessarily run the show. Nationally, the Federal Reserve System is led by a Board of Governors whose seven members are appointed by the president and confirmed by the Senate.

more; factcheck.org

Any bank is a big bank,

Every watched "Its a Wonderful Life" the big banks control the little ones.

All money comes from the Federal Reserve.

Barter it does not come from a bank.

Ive never used a bank, I use a building society.

No charges, great service, a £1k overdraft that I get charged about 2p a day if I use it,
Theyve been prefect for me. They even advised me to report my card lost when I wanted to cancel a direct debit but couldnt.

reply to post by stumason

you ARE joking ... ok

No, I'm not joking. Forget Alex Jones and others like him, the US Government owns the Fed. In 2010, out of the $80 odd billion the Fed made in profit, some $70 billion went to the US Treasury, the rest kept by the bank as liquidity. If you have actual proof, not a blog by some wierdo, but actual proof, I would like to see it.

i don't do Alex Jones, well maybe for a little entertainment but not in awhile anyway.
too much happening daily to have a need for his form of entertainment.

yes, i have proof ... funny that you'd ask considering you posted without any reference to a source.
[which btw is against T&C policies]

you make an awful lot of claims yet provide NO source.
any proof about your 2010 figures would be welcome but alas, you really don't know, do you?

how's this fantasy working out for ya ????

All you're doing is parrotting the tired old conspiracy angle that the UK still runs the US, that the Queen owns your land, you're only a chartered corporation and you're subject to maritme law. Seen it, read it all over ATS for years, but the theory never stands up to any kind of scrutiny and is the fanciful paranoid delusion of a fringe group.

never said or insinuated any of that but hey, if that's how your mind works, feel free

as for proof, you know, that of which you offered NONE ... here ya go

The members of the Board
shall devote their entire time to the business of the Board and
shall each receive basic compensation at the rate of $15,000 per
annum, payable monthly, together with actual necessary traveling
expenses. ~~ charter necessary eh?
--- snip ---
the Comptroller General of the United States
was to conduct a study analyzing the conflict of interest faced by
the Board of Governors of the Federal Reserve System between its
role as a primary regulator of the banking industry and its role as
a vendor of services to the banking and financial services industry
and, before the end of the 1-year period beginning on Nov. 12,
1999, submit a report to the Congress, together with
recommendations for such legislative or administrative actions as
the Comptroller General determined to be appropriate.
US code ~~ who leads whom?

cont'd from same source
(1) Stockholder dividends
(A) In general
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.
(B) Dividend cumulative
The entitlement to dividends under subparagraph (A) shall be
cumulative.
(2) Deposit of net earnings in surplus fund
That portion of net earnings of each Federal reserve bank which
remains after dividend claims under paragraph (1)(A) have been
fully met shall be deposited in the surplus fund of the bank.
--- snip ---
(3) Replenishment of surplus fund prohibited
During fiscal year 2000, no Federal reserve bank may replenish
such bank's surplus fund by the amount of any transfer by such
bank under paragraph (1)
--- snip ---
In addition to the amounts required to be
transferred from the surplus funds of the Federal reserve banks
pursuant to section 7(a)(3) of the Federal Reserve Act [former 12
U.S.C. 289(a)(3)], the Federal reserve banks shall transfer from
such surplus funds to the Board of Governors of the Federal Reserve
System for transfer to the Secretary of the Treasury for deposit in
the general fund of the Treasury, a total amount of $106,000,000 in
fiscal year 1997 and a total amount of $107,000,000 in fiscal year
1998. ~~ wooohoo, a whole million, woohoo
--- snip ---
Replenishment of surplus fund prohibited. - No Federal
reserve bank may replenish such bank's surplus fund by the amount
of any transfer by such bank under paragraph (1) during fiscal
years 1997 and 1998.

do check the date of this page ... 1/07/2011 ... it is not "old info" as you may be inclined to claim. The FR is a living, breathing, monstrosity which was hoisted and forced upon the ppl long ago. It is self-serving, self-defining, self-reporting and self-indulging every moment of its existence.

more for you ... from another equally legitimate source
i cannot copy from scribd, but here's a copy of the flowchart within the book link

Originally posted by stumason
Even the myth about the Fed Reserve being privately owned is exactly that. It is owned by the Federal Government and all profits go to the Fed Government...

Um, no. The Fed is semi-private.

Originally posted by stumason
All you're doing is parrotting the tired old conspiracy angle that the UK still runs the US, that the Queen owns your land, you're only a chartered corporation and you're subject to maritme law. Seen it, read it all over ATS for years, but the theory never stands up to any kind of scrutiny and is the fanciful paranoid delusion of a fringe group.

Actually, the US is technically still a British crown. They just don't know it. Why would they? They're all dumb and fat.

Originally posted by rubbertramp
i'm just wondering.
for those who believe there really is no financial problem, disregard this question.
but for the rest of you conspiracy minded folks, why are you supporting your enemies?
why not go with a locally owned credit union, or do as i have, bury your stash somewhere and quit worrying about it.
i'mtruly amazed by the number of my friends and family who think like i do, yet it never crossed their minds to close their account with wells fargo or one of the other big boys.
they are making money off your money and paying you squat in interest.
at least think about it as a viable option.
if the money flow slows down, so does the curruption.

I go with the biggest devil of them all.

Because I like the services. Are we in the Great Recession? Yes. The Great Depression? no....


First, all the small banks have been bought up.

Second, I have been robbed by small banks, a credit union even.

So just because they are not a goliath doesn't mean they aren't devils themselves.

reply to post by stumason

I also never said it was PART of the Government. You're putting my words in my mouth to try and score a lame point.

REALLY
then please, by all means, re-define these words of yours ...

It is owned by the USG, is overseen by the USG and the Senior management are appointed by the President himself, with the profits going to the USG.

senior management are not the owners or primary shareholders/investors for that matter.
and, as of the 2009 Sunshine Law, the Comptroller doesn't even have the authority to audit the beast.
more proof

Repeals the authority of the Comptroller General to carry out an onsite examination of an open insured bank or bank holding company only if the appropriate federal regulatory agency has consented in writing

so, back to the beginning ... FR origins ... another source

From December 1912 to December 1913, the Glass-Willis proposal was hotly debated, molded and reshaped. By December 23, 1913, when President Woodrow Wilson signed the Federal Reserve Act into law, it stood as a classic example of compromise—a decentralized central bank that balanced the competing interests of private banks and populist sentiment.

Following World War I, Benjamin Strong, head of the New York Fed from 1914 to his death in 1928, recognized that gold no longer served as the central factor in controlling credit. Strong’s aggressive action to stem a recession in 1923 through a large purchase of government securities gave clear evidence of the power of open market operations to influence the availability of credit in the banking system. During the 1920s, the Fed began using open market operations as a monetary policy tool.

from the beginning, the Fed was not in the business of open markets or using them to buffer itself.

Originally posted by GeorgiaGirl
reply to post by Honor93

 

i know better than to use a commercial bank ... they are for criminals thru and through.

I have to call you on this statement.

I respect and understand your position about not liking to bank with the big banks. But to categorize commercial banks as "for criminals" is going a bit far. If you said "run by criminals" that would be different.

perhaps you are not aware of how often they are voluntary participants in money laundering schemes ??
hence, through and thru ... either side of the fence, criminals gather at these places.
pssssst, you'll not find a member-owned CU even associated with such criminal acts.
____________________________

to those who don't have access to one in your area, start one.
it's not difficult and has been done for less than a $500 investment.
(10 ppl, $50 ea ... it can be done)

reply to post by rubbertramp

almost ... the Board is made up of 12 members, 7 of which are POTUS appointed ... the other 5 are industry leaders. see links included in previous posts.
know how long those appointments last ???

how's 14yrs grab ya? ... just enough time to create a crisis, resolve it and retire with the profits ... it's been cycling for nearly 100yrs now.