Should the Federal Reserve be abolished?

[eagle1462010]

Post #240 is the list of the member banks as reported by the Federal Reserve...........

Please show that this list of banks that make up 38% of banks in the United States are NOT PRIVATE.................

They are the Federal Reserve Stock holders............................member banks...........

Again, show which ones are not privately owned.

 

[eagle1462010]

The Fed is privately owned. Which is not needed. There should be no Stock Holders in the issuance of U.S. currency.............This should be a COMPLETELY GOV'T JOB...............NO STOCK HOLDERS to the Fed. While there is over sight to these Stock Holders, they still pretty much do as they please...........

The Federal Reserve has held interests rate at virtually Zero since the crash. The issuance of currency is the responsibility of the Federal Gov't under the Constitution and that is where it should remain.............................

Before Andrew Jackson was elected..........the 2nd National Bank of the U.S. performed the same as the Federal Reserve of today.........In a few years THEIR GREAT ability to do the job helped cause the 1ST GREAT DEPRESSION of the United States...........Much of it do to the EASY MONEY and lending practices of creating FIAT CURRENCY AND LOANS.

1913............Federal Reserve.........easy money again, borrowing to bet, and manipulation of PAPER helped lead to the GREAT DEPRESSION...........Again by the easy money of the Feds and Fractional banking...............including using assets from Commercial banks to get loans on the Markets for Investment Banks..........Which is exactly why they separated them to ensure we wouldn't have another one.

Take the rules away.............and LET THEM PLAY again using EASY MONEY TO BET ON THE MARKETS and being SELF REGULATED............helping to cause the most recent crash..................They damned well KNEW WHAT THEY WERE DOING................When they BUNDLED SHIT and SOLD IT AS GOLD...........................

And they got off the hook for basically being criminally negligent ..........Not only were they not taken down for their actions..........They were bailed out...........

4 Banks control 90% of ALL CURRENCY FLOW in this country..........THE TOO BIG TO FAIL...............Their ASSETS TO BETS ARE INSANE...........Which is why they are referred to ZOMBIE BANKS...................and why they will crash us again.........................IT'S JUST WHAT THEY DO...............

This is not what was meant for this country................This is not about just hiring someone to do a job...............It is about power and control, and the ability to manipulate currency to laughable levels................

This should be done by the Gov't............and NOT PRIVATE.............And we shouldn't have gotten to a point where 4 Banks control our fate.

To hell with the Federal Reserve..........and their private Stock Holders...............They are good at one thing..............screwing up and causing DEPRESSIONS and DEVALUATION of our currency for their own personal gain.

TRAITORS IN MY BOOK for the damage inflicted on this country by these scum bags who knew what they were doing.

The Fed is privately owned.

No it isn't.

Yes it is...............Here we go again...............

Out of the cave again to defend your sponsors again.................

Hurray, another round of smack the morons.

Someone else started this back up.......................and you will KISS THE FEDERAL RESERVE'S ASS FOR HELPING TANKING OUR NATION.

PUCKER UP.

Pointing out your idiocy doesn't involve kissing anything. Sorry.

How much do they pay you for defending them.............................

 

[Uncensored2008]

The Fed is privately owned.

No it isn't.

Not entirely correct.

{
Is the Federal Reserve a privately owned corporation?
September 2003




Yes and no. The Federal Reserve (the Fed) enjoys a unique public/private structure that operates within the government, but is still relatively independent of government to isolate the Fed from day-to-day political pressures in fulfilling its varying roles. As stated in The Federal Reserve System Purposes & Functions:

The Federal Reserve System is considered to be an independent central bank. It is so, however, only in the sense that its decisions do not have to be ratified by the President or anyone else in the executive branch of the government. The entire System is subject to oversight by the U.S. Congress….the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government.
}

SF Fed Is the Federal Reserve a privately owned corporation

The federal reserve essentially operates above government, though the board of governors are appointed by government. As such, these are the most well connected looters in the nation, given the keys to the public treasury.

The functions of the federal reserve are necessary, fiat currency must be used in a dynamic economy - those who claim otherwise are simply ignorant. The barter of hard currency in a world where even paper is vanishing is a fools pipe-dream.IF we abolish the Fed, we MUST create something to take it's place. A stable economy must have the monetary supply expanded and contracted in rhythm with the GDP. That is not negotiable.

That said, these functions are such that they demand the highest level of scrutiny - not the least as is the present case. I support the abolishing of the fed, as I stated - it is corrupt by design and cannot be salvaged. However, the first step is a simply audit.

Open the books and let the public see exactly what these criminals have been up to.

 

[Toddsterpatriot]

The Fed is privately owned.

No it isn't.

Yes it is...............Here we go again...............

Out of the cave again to defend your sponsors again.................

Hurray, another round of smack the morons.

Someone else started this back up.......................and you will KISS THE FEDERAL RESERVE'S ASS FOR HELPING TANKING OUR NATION.

PUCKER UP.

Pointing out your idiocy doesn't involve kissing anything. Sorry.

How much do they pay you for defending them.............................

Everyone who makes you look like a fool is on the Fed payroll?
I know they can print money, but shit, that's probably even more than they can create.

 

[Uncensored2008]

Post #240 is the list of the member banks as reported by the Federal Reserve...........

Please show that this list of banks that make up 38% of banks in the United States are NOT PRIVATE.................

They are the Federal Reserve Stock holders............................member banks...........

Again, show which ones are not privately owned.

That's not really true - not in the sense you present it.

 

[eagle1462010]

Yes it is...............Here we go again...............

Out of the cave again to defend your sponsors again.................

Hurray, another round of smack the morons.

Someone else started this back up.......................and you will KISS THE FEDERAL RESERVE'S ASS FOR HELPING TANKING OUR NATION.

PUCKER UP.

Pointing out your idiocy doesn't involve kissing anything. Sorry.

How much do they pay you for defending them.............................

Everyone who makes you look like a fool is on the Fed payroll?
I know they can print money, but shit, that's probably even more than they can create.

They manipulate currency and create bubbles from hell by loose monetary policies to banks at 0% in commercial banking, grow it to the moon through Fractional banking.....................and combine this by using the limited assets in commercial to their Investment branches.................

I've shown you the Zombie banks and their assets and IT'S BS............and the Federal reserve has it's part to play in this and BS monetary policies.

 

[eagle1462010]

Post #240 is the list of the member banks as reported by the Federal Reserve...........

Please show that this list of banks that make up 38% of banks in the United States are NOT PRIVATE.................

They are the Federal Reserve Stock holders............................member banks...........

Again, show which ones are not privately owned.

That's not really true - not in the sense you present it.

These banks are Private...........and are part of the Federal Reserve by buying Stock in the Federal Reserve.............None of them are Federal by nature........................

So I disagree................................

 

[Uncensored2008]

They manipulate currency and create bubbles from hell by loose monetary policies to banks at 0% in commercial banking, grow it to the moon through Fractional banking.....................and combine this by using the limited assets in commercial to their Investment branches.................

I've shown you the Zombie banks and their assets and IT'S BS............and the Federal reserve has it's part to play in this and BS monetary policies.

Yep, all true.

The fed is corrupt from top to bottom.

 

[eagle1462010]

http://www.bis.org/review/r141110b.pdf

Jerome H Powell: A financial system perspective on central clearing of
derivatives

Prior to the crisis, the then highly opaque market for OTC derivatives grew at an astonishing
and unsustainable pace of nearly 25 percent per annum in a context of relatively light
regulation and bilateral clearing.1 With the benefit of hindsight, we know that along with this
torrid growth came an unmeasured and underappreciated buildup of risk. The spectacular
losses suffered by American International Group, Inc., or AIG, on its derivatives positions,
and the resulting concerns about the potential effect of AIG’s failure on its major derivatives
counterparties, serve as particularly apt reminders of the wider failures and weaknesses that
were revealed by the crisis.
The threats posed were global, and the response was global as well. In September 2009, the
Group of Twenty (G-20) mandated that all sufficiently standardized derivatives should be
centrally cleared – a sea change in the functioning and regulation of these markets. And in
the five intervening years, substantial progress has been made in the United States and
abroad to implement this reform and begin to reduce systemic risk in these markets.
According to public data, roughly 20 percent of all credit derivatives and 45 percent of all
interest rate derivatives are now centrally cleared – amounts that have grown substantially
since 2009, when central clearing of credit derivatives began and the amount of cleared
interest rate derivatives was at roughly one-half of its current level.2 These amounts should
continue to grow over time as central clearing and, especially, client clearing requirements
take effect in more jurisdictions.


A Governor of the Federal Reserve comments on how the central banks of the world CLEARED THE DERIVATIVE BETS...............

20 to 45% CLEARED VIA FIAT CURRENCIES OF THE WORLD..........................

The derivatives markets exploded before the meltdown..............

 

[Uncensored2008]

These banks are Private...........and are part of the Federal Reserve by buying Stock in the Federal Reserve.............None of them are Federal by nature........................

So I disagree................................

If they were truly private, they would be easier to deal with.

It is the unholy morphing of Federal and Corporate power that makes the Federal Reserve so insidious.

 

[eagle1462010]

Post #249...............20% to 45% CLEARED.........................BAD BETS ...........................Take a good look at the chart............600 TRILLION in OTC and growing before the crash............

70 TRILLION GLOBAL before Clinton signed something with the likes of the scum bag Graham from Texas............lining his pocket to allow the Zombie banks to go SELF REGULATED..............

Great job they did...................The world ate the numbers posted via the words of a Governor of the Federal Reserve............DO THE MATH.

 

[eagle1462010]

These banks are Private...........and are part of the Federal Reserve by buying Stock in the Federal Reserve.............None of them are Federal by nature........................

So I disagree................................

If they were truly private, they would be easier to deal with.

It is the unholy morphing of Federal and Corporate power that makes the Federal Reserve so insidious.

They are private but under Gov't over site.........Board of governors selected by the President and ratified by Senate................

Without the federal Reserve the State Banks would hold federal dollars and disperse..............or something of that nature.........have to go back to when Jackson put the second national bank out of business.

 

[eagle1462010]

 

[CAPTCHATHIS]

Their stock holders loan us money. As I've shown not long ago, how Morgan Stanley bought our bonds in Belgium to near the GDP of the nation.

But Morgan Stanley's not the Fed. They don't have anyone on the Board............Yep, they are all so innocent. If all proceeds go to the Treasury anyway, then why are they charging us to sell the bonds at a rate of 6%.............And if they can't do whatever they want, then why are they borrowing Trillions at 0%, created out of thin air and then loaned back to us through a proxy saying they have no ties.

They hand that off to the stock holders in profits.

Why should we do that when we can do it for the ink or hitting the enter button on a computer for free.

Your side doesn't say jack about the 16.1 Trillion in Back door loans after the crash, or the Trillions since then. Nor the fact that the Fed inflated the markets so you guys can do your thing and crash the whole thing later.

It's all BS.

Members of the Federal Reserve system must contribute capital to buy shares in their regional Federal Reserve bank, and for that, they can access the Fed window and borrow when they are under stress. The 6% dividend banks receive is below the normal return on equity for a bank, which is typically 12%-15%. If banks had a choice, they wouldn't own shares in the Fed and would deploy capital more profitably elsewhere.

Oh, so it is basically a protection racket.

Banks don't have to be a part of the Federal Reserve System if they don't want to. Some aren't.

If banks had a choice, they wouldn't own shares in the Fed and would deploy capital more profitably elsewhere.

Banks don't have to be a part of the Federal Reserve System if they don't want to. Some aren't.

I guess it's just pure altruism on the part of those that do, eh?

 

[eagle1462010]

Their stock holders loan us money. As I've shown not long ago, how Morgan Stanley bought our bonds in Belgium to near the GDP of the nation.

But Morgan Stanley's not the Fed. They don't have anyone on the Board............Yep, they are all so innocent. If all proceeds go to the Treasury anyway, then why are they charging us to sell the bonds at a rate of 6%.............And if they can't do whatever they want, then why are they borrowing Trillions at 0%, created out of thin air and then loaned back to us through a proxy saying they have no ties.

They hand that off to the stock holders in profits.

Why should we do that when we can do it for the ink or hitting the enter button on a computer for free.

Your side doesn't say jack about the 16.1 Trillion in Back door loans after the crash, or the Trillions since then. Nor the fact that the Fed inflated the markets so you guys can do your thing and crash the whole thing later.

It's all BS.

Members of the Federal Reserve system must contribute capital to buy shares in their regional Federal Reserve bank, and for that, they can access the Fed window and borrow when they are under stress. The 6% dividend banks receive is below the normal return on equity for a bank, which is typically 12%-15%. If banks had a choice, they wouldn't own shares in the Fed and would deploy capital more profitably elsewhere.

Oh, so it is basically a protection racket.

Banks don't have to be a part of the Federal Reserve System if they don't want to. Some aren't.

If banks had a choice, they wouldn't own shares in the Fed and would deploy capital more profitably elsewhere.

Banks don't have to be a part of the Federal Reserve System if they don't want to. Some aren't.

I guess it's just pure altruism on the part of those that do, eh?

They do it out of the Goodness of their heart's...........for God and Country of course..............

LOL

 

[CAPTCHATHIS]

Their stock holders loan us money. As I've shown not long ago, how Morgan Stanley bought our bonds in Belgium to near the GDP of the nation.

But Morgan Stanley's not the Fed. They don't have anyone on the Board............Yep, they are all so innocent. If all proceeds go to the Treasury anyway, then why are they charging us to sell the bonds at a rate of 6%.............And if they can't do whatever they want, then why are they borrowing Trillions at 0%, created out of thin air and then loaned back to us through a proxy saying they have no ties.

They hand that off to the stock holders in profits.

Why should we do that when we can do it for the ink or hitting the enter button on a computer for free.

Your side doesn't say jack about the 16.1 Trillion in Back door loans after the crash, or the Trillions since then. Nor the fact that the Fed inflated the markets so you guys can do your thing and crash the whole thing later.

It's all BS.

Members of the Federal Reserve system must contribute capital to buy shares in their regional Federal Reserve bank, and for that, they can access the Fed window and borrow when they are under stress. The 6% dividend banks receive is below the normal return on equity for a bank, which is typically 12%-15%. If banks had a choice, they wouldn't own shares in the Fed and would deploy capital more profitably elsewhere.

Oh, so it is basically a protection racket.

Banks don't have to be a part of the Federal Reserve System if they don't want to. Some aren't.

If banks had a choice, they wouldn't own shares in the Fed and would deploy capital more profitably elsewhere.

Banks don't have to be a part of the Federal Reserve System if they don't want to. Some aren't.

I guess it's just pure altruism on the part of those that do, eh?

They do it out of the Goodness of their heart's...........for God and Country of course..............

LOL

Just a banker “doing God’s work”. Who are we to question that?

 

[Toddsterpatriot]

http://www.bis.org/review/r141110b.pdf

Jerome H Powell: A financial system perspective on central clearing of
derivatives

Prior to the crisis, the then highly opaque market for OTC derivatives grew at an astonishing
and unsustainable pace of nearly 25 percent per annum in a context of relatively light
regulation and bilateral clearing.1 With the benefit of hindsight, we know that along with this
torrid growth came an unmeasured and underappreciated buildup of risk. The spectacular
losses suffered by American International Group, Inc., or AIG, on its derivatives positions,
and the resulting concerns about the potential effect of AIG’s failure on its major derivatives
counterparties, serve as particularly apt reminders of the wider failures and weaknesses that
were revealed by the crisis.
The threats posed were global, and the response was global as well. In September 2009, the
Group of Twenty (G-20) mandated that all sufficiently standardized derivatives should be
centrally cleared – a sea change in the functioning and regulation of these markets. And in
the five intervening years, substantial progress has been made in the United States and
abroad to implement this reform and begin to reduce systemic risk in these markets.
According to public data, roughly 20 percent of all credit derivatives and 45 percent of all
interest rate derivatives are now centrally cleared – amounts that have grown substantially
since 2009, when central clearing of credit derivatives began and the amount of cleared
interest rate derivatives was at roughly one-half of its current level.2 These amounts should
continue to grow over time as central clearing and, especially, client clearing requirements
take effect in more jurisdictions.


A Governor of the Federal Reserve comments on how the central banks of the world CLEARED THE DERIVATIVE BETS...............

20 to 45% CLEARED VIA FIAT CURRENCIES OF THE WORLD..........................

The derivatives markets exploded before the meltdown..............

the central banks of the world CLEARED THE DERIVATIVE BETS...............

Nope. Central banks don't clear derivatives.
Clearing houses do, like OCC (Options Clearing Corp) and BOTCC (Board of Trade Clearing Corp).
A clearing corporation is a party that stands between 2 traders and guarantees the performance of the contract.
This way if you sell a futures contract, the buyer doesn't need to worry that you'll default.
The clearing corp will collect margin from you (from your broker) and pay off the counterparty if you flake out.

Clear does NOT MEAN give money to the banks or brokers from the Central Banks.

 

[Toddsterpatriot]

Post #249...............20% to 45% CLEARED.........................BAD BETS ...........................Take a good look at the chart............600 TRILLION in OTC and growing before the crash............

70 TRILLION GLOBAL before Clinton signed something with the likes of the scum bag Graham from Texas............lining his pocket to allow the Zombie banks to go SELF REGULATED..............

Great job they did...................The world ate the numbers posted via the words of a Governor of the Federal Reserve............DO THE MATH.

OTC means over-the-counter which means not cleared on an exchange through a clearing corp.

...............20% to 45% CLEARED.........................BAD BETS

No. Wrong. It means cleared thru a clearing corp, it has nothing to do with Central Banks, bad bets or giveaways.

The world ate the numbers posted via the words of a Governor of the Federal Reserve.

Nope. The world didn't eat anything. You just don't understand what clear means.

Clearing Corporation
An agency or corporation on an exchange that settles transactions for a fee. Most exchanges have one or more clearing corporations that are charged with matching orders together, ensuring that delivery is made to the correct party, and collecting margin money. Because so many trades take place on an exchange in a given day, clearing corporations exist to process what each party owes or is owed in a central location so that the fewest securities and the least amount of money actually change hands. For example, suppose that a broker-dealer buys 1,000 shares of a security and then, in a completely separate transaction, sells 700 of the same shares. At the end of the trading day, the clearing house would determine that the broker-dealer must only buy 300 shares as the other 700 belong to another party. Clearing corporations receive a clearing fee in exchange for these services.

Clearing Corporation financial definition of Clearing Corporation

 

[CAPTCHATHIS]

Warnings from Our Forefathers:

Thomas Jefferson warned us about the dangers of having a central bank when he said, “I sincerely believe that banking institutions are more dangerous to our liberties than standing armies. The issuing power should be taken from the banks and restored to the people to whom it properly belongs. If the American people ever allow private banks to control their currency, first by inflation then by deflation, the banks and corporations that will grow up around them will deprive the people of all their prosperity until their children will wake up homeless on the continent their fathers conquered.”

President James Madison warned, “History records that the money changers have used every form of abuse, intrigue, deceit and violent means possible, to maintain their control over governments, by controlling money and its issuance.”

In 1834 President Andrew Jackson said, “If Congress has the right under the constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations… The bold effort the present bank has made to control the Government, the distress it has wantonly produced…are but premonitions of the fate that awaits the American People should they be deluded into a perpetuation of this institution (The Bank of the United States), or the establishment of another like it.”

Abraham Lincoln warned us “The ‘money power’ will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in the hands of a few, and the Republic is destroyed.”

Seven Ways the Federal Reserve is Destroying the American Republic | Z3 News

Thomas Jefferson warned us about the dangers of having a central bank when he said, “I sincerely believe that banking institutions are more dangerous to our liberties than standing armies. The issuing power should be taken from the banks and restored to the people to whom it properly belongs. If the American people ever allow private banks to control their currency, first by inflation then by deflation, the banks and corporations that will grow up around them will deprive the people of all their prosperity until their children will wake up homeless on the continent their fathers conquered.”

Love that fake quote.

No, it's not 100% accurate but pretty close and certainly in line with his disposition towards the central bank.

Thomas Jefferson Letter to John Taylor
May 28, 1816

"The system of banking we have both equally and ever reprobated. I contemplate it as a blot left in all our constitutions, which, if not covered, will end in their destruction, which is already hit by the gamblers in corruption, and is sweeping away in its progress the fortunes and morals of our citizens. Funding I consider as limited, rightfully, to a redemption of the debt within the lives of a majority of the generation contracting it; every generation coming equally, by the laws of the Creator of the world, to the free possession of the earth he made for their subsistence, unincumbered by their predecessors, who, like them, were but tenants for life." .....

...."And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."

Letter to John Taylor Teaching American History

 

[Flopper]

The Federal Reserve and it's EASY money are simply History repeating itself..........leading to Market Speculation and bubbles from hell.

The 1st Depression way back when was because of it.
The Great Depression was because of it.
The Great Recession was because of it,

And the one coming soon will be because of it..................

EASY MONEY and manipulation will lead us to another Great Crash..........The only reason it didn't go full monty this time is because they loaned to the moon to save the ass hats who screwed this country................

Money should be backed by assets............You shouldn't be able to bet or loan when you have no assets to back it up....The Federal Reserve's policy screwed the country in the 20's and screwed us recently, and are going to screw us again

So, SCREW THE FEDERAL RESERVE.

Having precious metals, or anything else, back the currency is not related to the functions of money. Money is a tool for conducting transactions, and having it backed by anything only puts a limit on the amount of growth that can occur in the economy.

Backing up currency with assets such as gold acts as a limit on economic growth. As an economy's productive capacity grows, then so should its money supply. Because a gold standard requires that money be backed up by the metal, then the scarcity of the metal constrains the ability of the economy to produce more capital and grow. The ability of a nation to grow should be determined by the work ethic, the ingenuity, and the values of it's people, not the amount of gold in the bank.