http://www.govtrack.us/congress/bill.xpd?bill=h110-2755 http://www.lewrockwell.com/paul/paul53.html This is the real reason why they fear Ron Paul. Not because of his opposision to the Iraq debacle, that is becoming de rigueur (feigned though much of it is). His whole philosophy is at odds with their, "we will do what ever we want to attitude."
The monetary policy was never a problem; fiscal policy is the problem. If you don't want the Fed to engage in Repos and outright purchases frequently, control fiscal spending. The Fed results in creating money because of gevernment spending. It is a good thing that we have a quasi-government private instutution controlling the monetary policy. Imagine the government controlling the monetary policy the way they do fiscal.
I can't see any US President disbanding the Federal Reserve. Whilst the bank is actually a direct violation of the Constitution and was repealed by JFK shortly before his assassination (though that Executive Order has never since been invoked), it is run by arguably the most powerful figures in the world. The 12 banks that fund the Federal Reserve have enormous power, their financial clout giving them huge influence over not only politicians but also entire countries. Arguably, they fund both runners in the US presidential elections in order to ensure the winner will always continue to allow them to continue the illegal printing of money and creation of inflation to which they have become accustomed.
Good read - http://www.geocities.com/northstarzone/FED.html The Feds are the reason that the US backs Israel etc...
Funny article. It's no secret that the fed is private, yet people make it out to be some sort of a secret that's being revealed. Secondly, the Fed does not "buy Government debt with money printed on a printing press." Fiat money system is basically an accounting system and nothing more; physical currency does not play a large roll in our economy. Therefore, very little money is actually "printed" to create money. What happens is that the fed increases the reserve of a primary dealer's account. This process wouldn't have to happen so frequently if government spending were more controlled and countercyclical the way Keynes described it. There are too many things to be pointed out in that article... If you want to criticize the fed, do it properly. Bottom line: worry about the monetary policy after the fiscal policy has been dealt with.
It IS a secret, they don't want this scam to be uncovered. If you go to 'about us' page at FRB website, you'll see that they deny being a private company
Another marvelous sign of RP's leadership http://www.govtrack.us/congress/bill.xpd?bill=h108-2778 Sponsor: Rep. Ronald Paul [R-TX](no cosponsors) Last Action: Jul 18, 2003: Introductory remarks on measure. (CR E1518-1519) http://www.govtrack.us/congress/bill.xpd?bill=h110-2755 Sponsor: Rep. Ronald Paul [R-TX](no cosponsors) A man who can lead! couldn't get cosponsors in 2003, surely wont in 2007 either. The last hope. The best hope. For humanity. Save the republic. Take the red pill. Ron Paul.
It's a big secret when it's in every econ textbook... Maybe you should go back to ECON 101. Give me a link to a page where they deny this fact.
Judging by your attitude it won't help, but just in case it does here is your link... http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm "The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution."
It's another grand government conspiracy that can be discovered through a FAQ on their own website. First, the NAU is found out through a FAQ page. And now the FRB! You'd think the grand conspirators could figure out a way to defeat these insidious FAQ pages!
Wikipedia says that it is both: "The Federal Reserve System is a quasi-governmental/quasi-private banking system composed of (1) the presidentially-appointed Board of Governors of the Federal Reserve System in Washington, D.C.; (2) the Federal Open Market Committee; (3) 12 regional Federal Reserve Banks located in major cities throughout the nation acting as fiscal agents for the U.S. Treasury, each with their own nine-member board of directors; (4) numerous private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Bank; and (5) various advisory councils."
...and the sentense that follows is: "Instead, it is an independent entity within the government, having both public purposes and private aspects. As I stated in the first post in this thread, the fed is a quasi-governmental private instutution. The Fed denies that it is a private, for-profit institution meaning that their decisions are not based on profitablity.
You wanted a link to where they deny being a private for-profit company, I gave you the link... I am not really into arguing
No, I wanted a link to a page where they denied being a private organization period, not a private, for-profit organization because it is true that the fed is not a for-profit organization. It tends to work in favor of its member banks and the banking industry as a whole, but the fed itself is not for-profit. Have you taken a look at the fed's income statement? It's interesting that they have an account called distribution which conspiracists ignore.
whole planet should be de-militerised..........this planet needs warmth and love........and what we are giving it