Who knew the american Federal Reserve is actually an entirely private organisation ?

[paphio]

It seems american banker have conned the government into borrowing from them. While the Fed. Res. basically just prints it.

Is Europe in the same predicament?

[????]

People, governments, companies who borrow money have been conned into it have they?

*scratches head

[paphio]

The public at large.

[Loz]

How were the public at large conned then? Was it that they were cornered in a shopping centre and, thinking they were requesting information about double glazing, ended up with a $250,000 mortgage?

[paphio]

The taxes payed by the public are used to service the debt the government owes the Fed. Res, (and not to to be redistributed for the greater good).

Clever is it not...calling a private conglomerate, made entirely of private bankers, "The Federal Reserve."

[Loz]

paphio Wrote:

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

> The taxes payed by the public are used to service

> the debt the government owes the Fed. Res, (and

> not to to be redistributed for the greater good).

> Clever is it not...calling a private conglomerate,

> made entirely of private bankers, "The Federal

> Reserve."

You are simplifying it somewhat and getting it wrong somewhat. From Wiki:

The Federal Reserve System has both private and public components, and was designed to serve the interests of both the general public and private bankers. The result is a structure that is considered unique among central banks. It is also unusual in that an entity outside of the central bank, namely the United States Department of the Treasury, creates the currency used.

According to the Board of Governors, the Federal Reserve is independent within government in that "its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government." However, its authority is derived from the U.S. Congress and is subject to congressional oversight. Additionally, 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.

[paphio]

Nevertheless it seems strange... Who and how are the people chosen chair and vice-chair... would they also be bankers by any chance?

The salaries is certainly not what these people earn.

Does it not stink of something shady ?

[Loz]

Bankers? Running a banking system? Whatever will these evil people do next?

But the answer to your question is in the quote: "the members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by Congress." The current chairman looks like he has similar credentials to the current Governor of the Bank of England.

But apparently there have been bankers spotted in the Bank of England, too. Who'd have guessed?

Those dastardly bankers doing banker things. What the hell did they do to give them the right to call themselves bankers, anyway...?

[paphio]

A banking system created to enrich themselves, not the nation.

Kennedy was about to abolish it but that didn't pan out.

[Loz]

Which part of "the U.S. Government receives all of the system's annual profits" are you having difficulty with?

[mockney piers]

I don't think anything is created to enrich the nation as such. Well maybe invading places.

Banks were created to facilitate finance and were created by private individuals to enrich themselves.

It's all got a bit more complicated since but the core remains the same.

I don't think the profit motive is intrinsically immoral, though like shrink, unchecked it can give rise to immoral behaviour.

But then so can enriching the nation. The road to hell after all...

[paphio]

Loz,

You believe a private concern would be set up to give all of its profits to the government. Wow.

[Loz]

Are you saying it doesn't? Evidence?

[paphio]

if it interest there are surprisingly well documented amount of sites. if you ask the right questions.

"The Federal Reserve : History of lies thievery and deceit" is one of them "The Creature of Jeckill Island" is another.

Sorry I have yet to learn how to direct you to a site with a link, on this forum. maybe you can help?

[Loz]

That's OK... I can Google.

"The Creature of Jeckill Island", by G. Edward Griffin

From Mr Griffin's wiki entry...

Starting as a child actor, he became a radio station manager before age 20. He then began a career of producing documentaries and books on often-debated topics like cancer, Noah's ark, and the Federal Reserve System, as well as on libertarian views of the Supreme Court of the United States, terrorism, subversion, and foreign policy. Since the 1970s, Griffin has promoted laetrile as a cancer treatment, a view considered quackery by the medical community. He has also promoted the Durupınar site as hosting the original Noah's ark, against skeptics as well as near-Ararat Creationists. He has opposed the Federal Reserve since the 1960s, saying it constitutes a banking cartel and an instrument of war and totalitarianism.

Sorry, paphio - I've filed that one under 'nutjob'.

So, onto "The Federal Reserve : History of lies thievery and deceit" by Dr Ken Matto. This one's a doozie. I found his home page at http://www.scionofzion.com and I think this sums him up nicely in his own words...

I want to thank you for stopping by the Scion of Zion Website. Any materials which you see on this site you may download or copy for personal, group, church use, or any reason except sales. The Bible teaches us that we should give away freely what we have received from the Lord. My desire is to help any Christian mature in the faith. There are many materials in Christendom which use the Bible as a peripheral source instead of using God's Word as the primary source for growth. You will see in this web site that I am absolutely intolerant of "Gospel additives" such as "tongues." For this I make no apology and you won't change me. As we near the end of time, the true gospel will become harder and harder to find. There are no more prophetic signs to be fulfilled. The next thing we will hear is the voice of God on the last day and my personal belief is that it is very close. I am also very missions minded. When I first became a Christian, the man who discipled me put a love for missions in my heart and it has never departed. Since I have 2 bad knees and unable to go to the mission field, I encourage others to go to the mission field to send forth the gospel to the uttermost parts of the earth.

I've filed that one under 'religious nutjob'

You want to try again, paphio? Preferably some thoughts from someone who isn't foaming at the mouth?

[paphio]

And there was me thinking all this was a bit shady.

I'll grant you all we need now to give this more credibility is Zippo the clown.

Is there a credible source though... I shall look into it, maybe you will to.

interesting stuff.

[Loz]

"The Federal Reserve : History of lies thievery and deceit" had some interesting takes on history... a lot based on fact, then thrown into the mix with a strange theory or two. Then all finished with a fire and brimstone pulpit lecture.

Surprisingly, he missed the role of the Knights Templar in the creation of banking, which really would have given a zip to his Illuminati-type theories.

His main conclusion seemed to be that the Rothschilds now owned the world though, like a lot of Americans, he kept confusing the 'world' with the 'USA'.

[paphio]

Something bugs me about why the federal reserve is not a public institution.

I guess maybe I'm in the mood for conspiracies.

[Loz]

Well, that's probably because the Americans don't like big government, even the Democrats. So they've gone with a private solution with enough public oversight to haul it in if need be.

Not the way I'd do it, but it seems to work.