Anybody participating in Wall St Occupation?

Can you read?

Or would text be easier for you:


Q: Who owns the Federal Reserve Bank?

A: There are actually 12 different Federal Reserve Banks around the country, and they are owned by big private banks.



Federal Reserve Bank Ownership

Sounds like a personal problem to me.

 

@Earl Pearl

Thanks for taking the time to create this post, it's actually educational. It's not everyday that I learn in P & R, just wanted to quote it again. Anyway, nice to see you.

 

@Rebecca: tx. good to see you. good luck with your new business.
@blogmeister. you should READ the link you provided about fed reserve ownership. I just read it. It mentions many of the things I mentioned!!!!!!!

Bank ownership of the fed:

1. its required if your fed insured. Its required!!!!
2. Cant sell ownership to any outside entity. I ask what kind of ownership is THAT? That makes it unlike owning anything else that is an investment or a product. I can sell used books on amazon. What does ownership mean if I can't sell it???
3. Who controls the fed? its a mixed bag of appointees by the pres, with congressional approval. and the bank members. The presidential appointees are the majority. The republicans in congress just voted down an Obama appointee? That was pure politics. How can banks control the fed...when presidential appointees are in the majority and now with this unbelievably contentious congress they block appointees. In any case....in this situation....the pols control the majority of the fed voters....and the appointees represent both democratic and republican appointees over time heavily and mostly coming from academia.

My advice. Read the link YOU provided.

 

Here is my question: Reading the following:

What do the banks even have to own any part of Fed? Why even bring them in for anything other than advice?

 

Nima: Good question. I think you would have to go back to 1913 when it was set up to try and understand why it took that structure.

meanwhile the fed reserve issue is a bogus issue with regard to the occupy wall street group. What they don't like are current conditions that exist. I believe overwhelmingly high unemployment that isn't appreciably changing, along with the way that wall street got bailed out...and doesn't seem to give a cr@p about anyone else....and the overwhelming amount of money being made by a very few people...while ever more are struggling....are the primary reasons behind the movement.

I'd still like to see how this thing evolves. They are unhappy with the way things are. As a grass roots movement that makes them similar to the Tea Party. OTOH they essentially represent the opposite side of the political spectrum.

Protest is part of America. The US is not China, Russia, Libya or Syria. Allow the Occupy Wall Street Group to say their piece and develop their perspectives.

 

Here is a great reason for the Occupy Wall Street people to continue to press their issues. The link to the article describes some amazing current information about median wages in the US: (median...half of wage earners make more than this amount...and half make less). http://www.theatlantic.com/business...workers-made-less-than-26-000-in-2010/247059/

Half the workers in the US are bringing in about $26,000/year and less. Meanwhile corporate ceo pay keeps going up....big business profits are skyrocketing....and the rest of the country isn't seeing any of those gains....in fact median salaries have nose dived to a 10 year low.

I think there are plenty of reasons for these folks to keep up with their protests and develop their points

 

So who owns the corporation? "Control" is a vague term. You have regulations and spokespersons. But I do not look at that. People do not own a corporation out of hobby or boredom. They own it to make a profit. Until we can see where the revenue generated through that corporation flows, nothing else matters.

Can you show me in detail where the IRS tax money goes, how much is being spent where and what profits the Federal Reserve generates for itself and its shareholders?

 

Looks like about $79 billion went into the US treasury:

from Wikipedia:

Thus the Federal Reserve has both private and public aspects.[12][13][14][15] 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

 

here is even more information. Go to this audited financial statement for the FED. Its for year end 2008. http://www.federalreserve.gov/monetarypolicy/files/BSTFRcombinedfinstmt20072008.pdf

Go to page 2. Its the income statement. Go to the bottom part of the page. Take a look at the line item that says dividends paid to member banks Its about 1.2 billion. That is the 6% return on the mandated investment.

Go down further. Look at the payments made to the treasury. Its about $31.7 billion.

Okay. Who gets the money????


and now that this political made up monkey story about who owns the fed and where the money goes is put to bed with real facts and real figures. Hopefully those who espouse the libertarian political nonsense might actually read real stuff rather than monkey talk......maybe we can get back to real issues that the Occupy Wall Street group are trying to articulate.

I hope they focus on issues such as the incredible change in how money flows through the US and to whom. According to those graphs I presented earlier...big corporations are sucking up all the loot. Additionally corporate execs are making ever more money. Meanwhile common working people are getting the raw end of the deal.

 

The Fed is owned by mostly European bankers. I am sure if you write them a nice letter, they will disclose all their personal transactions.

 

i personally know of corporations that, as the corporation went into a tail spin, the corporate officers paid themselves outlandish bonuses. I forget the exact figure, but corporate officers in failing companies pay themselves 10x more than healthy companies.

What is at issue here, the crux of the corporate problem, is that corporate officers' pay in the USA is not tied to the success of the corporation. This is nothing new, it's being going on for the past 80 years. They used to hide it in different ways that don't show up on a balance sheet as being attributed to a particular person (ex: "travel expenses"). What's changed is that in the past 20 years corporations no longer bother to hide it. Why should they - they have a government and a President that is bought and paid for!

In my mind, the scene that typified the entire Occupy Wall Street movement happened near the start of the whole thing. Protesters were outside what I think was the NY Stock Exchange, while from atop a balcony, smirking traders overlooked the protesters while toasting each other with champagne. It typifies the situation - the traders were basically flipping off the protesters because unless we achieve the impossible (get money out of government), the situation will not change.