Update on Greece....

[montelatici]

It is still true, and looks like it fits with Jeffersons spirit.

Jefferson didn't say it, so it's not true.

I guess you could say it now, wouldn't make it an accurate prediction of future events.

His spirit said it or agreed with it so it is still true.

When it came to matters of finance, Jefferson was kind of clueless.

Let's look at the fake quote, just for fun.

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered."

Do private banks control the issue of US currency?

The community banks / township banks of the USA are not the ones targeted with this. The quote is specific about control. For the 2nd decade add of the 21st century, now the very last bastion of community banking is eliminated, and everything is brought under the control of the central banks that Jefferson is talking about. This has happened in the European countries 200 years ago.

Do private banks control the issue of US currency?

Yes, of course they do. What do you think the formal name of the U.S. currency is?

 

[Toddsterpatriot]

Jefferson didn't say it, so it's not true.

I guess you could say it now, wouldn't make it an accurate prediction of future events.

His spirit said it or agreed with it so it is still true.

When it came to matters of finance, Jefferson was kind of clueless.

Let's look at the fake quote, just for fun.

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered."

Do private banks control the issue of US currency?

The community banks / township banks of the USA are not the ones targeted with this. The quote is specific about control. For the 2nd decade add of the 21st century, now the very last bastion of community banking is eliminated, and everything is brought under the control of the central banks that Jefferson is talking about. This has happened in the European countries 200 years ago.

Do private banks control the issue of US currency?

Yes, of course they do. What do you think the formal name of the U.S. currency is?

Enlighten me.

 

[montelatici]

His spirit said it or agreed with it so it is still true.

When it came to matters of finance, Jefferson was kind of clueless.

Let's look at the fake quote, just for fun.

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered."

Do private banks control the issue of US currency?

The community banks / township banks of the USA are not the ones targeted with this. The quote is specific about control. For the 2nd decade add of the 21st century, now the very last bastion of community banking is eliminated, and everything is brought under the control of the central banks that Jefferson is talking about. This has happened in the European countries 200 years ago.

Do private banks control the issue of US currency?

Yes, of course they do. What do you think the formal name of the U.S. currency is?

Enlighten me.

The bank note is called a Federal Reserve Note. The Federal Reserve Bank(s) shareholders are the largest private U.S. banks.

 

[Toddsterpatriot]

When it came to matters of finance, Jefferson was kind of clueless.

Let's look at the fake quote, just for fun.

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered."

Do private banks control the issue of US currency?

The community banks / township banks of the USA are not the ones targeted with this. The quote is specific about control. For the 2nd decade add of the 21st century, now the very last bastion of community banking is eliminated, and everything is brought under the control of the central banks that Jefferson is talking about. This has happened in the European countries 200 years ago.

Do private banks control the issue of US currency?

Yes, of course they do. What do you think the formal name of the U.S. currency is?

Enlighten me.

The bank note is called a Federal Reserve Note. The Federal Reserve Bank(s) shareholders are the largest private U.S. banks.

The Federal Reserve is part of the US government.

 

[anotherlife]

The community banks / township banks of the USA are not the ones targeted with this. The quote is specific about control. For the 2nd decade add of the 21st century, now the very last bastion of community banking is eliminated, and everything is brought under the control of the central banks that Jefferson is talking about. This has happened in the European countries 200 years ago.

Do private banks control the issue of US currency?

Yes, of course they do. What do you think the formal name of the U.S. currency is?

Enlighten me.

The bank note is called a Federal Reserve Note. The Federal Reserve Bank(s) shareholders are the largest private U.S. banks.

The Federal Reserve is part of the US government.

Hence my post that private banks have a shareholder style control over the US government, amongst other controls that they have over the government and over individual people.

 

[Toddsterpatriot]

Do private banks control the issue of US currency?

Yes, of course they do. What do you think the formal name of the U.S. currency is?

Enlighten me.

The bank note is called a Federal Reserve Note. The Federal Reserve Bank(s) shareholders are the largest private U.S. banks.

The Federal Reserve is part of the US government.

Hence my post that private banks have a shareholder style control over the US government, amongst other controls that they have over the government and over individual people.

Do private banks control the issue of US currency?

 

[montelatici]

The community banks / township banks of the USA are not the ones targeted with this. The quote is specific about control. For the 2nd decade add of the 21st century, now the very last bastion of community banking is eliminated, and everything is brought under the control of the central banks that Jefferson is talking about. This has happened in the European countries 200 years ago.

Do private banks control the issue of US currency?

Yes, of course they do. What do you think the formal name of the U.S. currency is?

Enlighten me.

The bank note is called a Federal Reserve Note. The Federal Reserve Bank(s) shareholders are the largest private U.S. banks.

The Federal Reserve is part of the US government.

The Federal Reserve is not a part of the U.S. Government.

 

[anotherlife]

Yes, of course they do. What do you think the formal name of the U.S. currency is?

Enlighten me.

The bank note is called a Federal Reserve Note. The Federal Reserve Bank(s) shareholders are the largest private U.S. banks.

The Federal Reserve is part of the US government.

Hence my post that private banks have a shareholder style control over the US government, amongst other controls that they have over the government and over individual people.

Do private banks control the issue of US currency?

Yes they do. They determine it. Did you think that the US government does that all by itself?

 

[Toddsterpatriot]

Do private banks control the issue of US currency?

Yes, of course they do. What do you think the formal name of the U.S. currency is?

Enlighten me.

The bank note is called a Federal Reserve Note. The Federal Reserve Bank(s) shareholders are the largest private U.S. banks.

The Federal Reserve is part of the US government.

The Federal Reserve is not a part of the U.S. Government.

It is part of the US government.

 

[Toddsterpatriot]

Enlighten me.

The bank note is called a Federal Reserve Note. The Federal Reserve Bank(s) shareholders are the largest private U.S. banks.

The Federal Reserve is part of the US government.

Hence my post that private banks have a shareholder style control over the US government, amongst other controls that they have over the government and over individual people.

Do private banks control the issue of US currency?

Yes they do. They determine it. Did you think that the US government does that all by itself?

Do private banks control the issue of US currency?

Yes they do.

Which banks? How?

 

[Toddsterpatriot]

Do private banks control the issue of US currency?

Yes, of course they do. What do you think the formal name of the U.S. currency is?

Enlighten me.

The bank note is called a Federal Reserve Note. The Federal Reserve Bank(s) shareholders are the largest private U.S. banks.

The Federal Reserve is part of the US government.

The Federal Reserve is not a part of the U.S. Government.

The Federal Reserve is not a part of the U.S. Government.

Who owns the Federal Reserve?
The Federal Reserve System fulfills its public mission as an independent entity within government. It is not "owned" by anyone and is not a private, profit-making institution.
As the nation's central bank, the Federal Reserve derives its authority from the Congress of the United States. It is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms.

However, the Federal Reserve is subject to oversight by the Congress, which often reviews the Federal Reserve's activities and can alter its responsibilities by statute. Therefore, the Federal Reserve can be more accurately described as "independent within the government" rather than "independent of government."

The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks.

However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, paid to member banks at a maximum rate of 6 percent, determined in part by each member bank's total assets.

FRB: Who owns the Federal Reserve?

 

[montelatici]

You believe the disinformation the Fed uses to deflect the fact that the shareholders of the Fed are private banks. The Fed is writes up that nonsense in their FAQ to fool people like you. But just go to Fact Check and you will see that:

"There are actually 12 different Federal Reserve Banks around the country, and they are owned by big private banks.....The private banks also have a voice in regulating the nation’s money supply....
The Fed is a little defensive about the question of ownership. In its Frequently Asked Questions section, the Federal Reserve Board says: “The Federal Reserve System is not ‘owned’ by anyone and is not a private, profit-making institution."

Federal Reserve Bank Ownership

 

[Toddsterpatriot]

You believe the disinformation the Fed uses to deflect the fact that the shareholders of the Fed are private banks. The Fed is writes up that nonsense in their FAQ to fool people like you. But just go to Fact Check and you will see that:

"There are actually 12 different Federal Reserve Banks around the country, and they are owned by big private banks.....The private banks also have a voice in regulating the nation’s money supply....
The Fed is a little defensive about the question of ownership. In its Frequently Asked Questions section, the Federal Reserve Board says: “The Federal Reserve System is not ‘owned’ by anyone and is not a private, profit-making institution."

Federal Reserve Bank Ownership

You believe the disinformation the Fed uses to deflect the fact that the shareholders of the Fed are private banks.

Private banks own "shares" in the Fed.
The Fed is part of the US government.

The Fed is a little defensive about the question of ownership.

Idiots like you are probably an annoyance.

 

[montelatici]

The Fed is not part of the U.S. Government at all. You are misinformed.

"The Federal Reserve System Is A Privately Owned Banking Cartel

The Federal Reserve is not a government agency.

The truth is that it is a privately owned central bank. It is owned by the banks that are members of the Federal Reserve system. We do not know how much of the system each bank owns, because that has never been disclosed to the American people.

The Federal Reserve openly admits that it is privately owned. When it was defending itself against a Bloomberg request for information under the Freedom of Information Act, the Federal Reserve stated unequivocally in court that it was “not an agency” of the federal government and therefore not subject to the Freedom of Information Act."

Are Federal Reserve Board Employees 'Essential' Government Workers?

 

[Toddsterpatriot]

The Fed is not part of the U.S. Government at all. You are misinformed.

"The Federal Reserve System Is A Privately Owned Banking Cartel

The Federal Reserve is not a government agency.

The truth is that it is a privately owned central bank. It is owned by the banks that are members of the Federal Reserve system. We do not know how much of the system each bank owns, because that has never been disclosed to the American people.

The Federal Reserve openly admits that it is privately owned. When it was defending itself against a Bloomberg request for information under the Freedom of Information Act, the Federal Reserve stated unequivocally in court that it was “not an agency” of the federal government and therefore not subject to the Freedom of Information Act."

Are Federal Reserve Board Employees 'Essential' Government Workers?

The Fed is not part of the U.S. Government at all. You are misinformed.

The Federal Reserve System fulfills its public mission as an independent entity within government.

The truth is that it is a privately owned central bank

Of all the money the Fed made last year, how much did the "private owners" get?

We do not know how much of the system each bank owns

The member banks must by law invest 3 percent of their capital as stock in the Reserve Banks,

The Federal Reserve openly admits that it is privately owned

It is not "owned" by anyone and is not a private, profit-making institution

the Federal Reserve stated unequivocally in court that it was “not an agency” of the federal government

as an independent entity within government

Thanks for that link.

So my question is: Are Federal Reserve Board employees “essential” government workers? First of all, let’s clarify that they are, in fact, federal government employees. But are they “essential” ones?

Despite lots of baseless perceptions among some of the anti-Fed rabble rousers, no, the Fed is not a private bank. The Federal Reserve Board is a federal government agency.

Derp!

 

[anotherlife]

The bank note is called a Federal Reserve Note. The Federal Reserve Bank(s) shareholders are the largest private U.S. banks.

The Federal Reserve is part of the US government.

Hence my post that private banks have a shareholder style control over the US government, amongst other controls that they have over the government and over individual people.

Do private banks control the issue of US currency?

Yes they do. They determine it. Did you think that the US government does that all by itself?

Do private banks control the issue of US currency?

Yes they do.

Which banks? How?

See post #43 by montelatici. And the how is published in the proceedings of the federal reserve. For example the 10 % reserve level of every loan as maximum capital backing before the point of issuance.

 

[Toddsterpatriot]

The Federal Reserve is part of the US government.

Hence my post that private banks have a shareholder style control over the US government, amongst other controls that they have over the government and over individual people.

Do private banks control the issue of US currency?

Yes they do. They determine it. Did you think that the US government does that all by itself?

Do private banks control the issue of US currency?

Yes they do.

Which banks? How?

See post #43 by montelatici. And the how is published in the proceedings of the federal reserve. For example the 10 % reserve level of every loan as maximum capital backing before the point of issuance.

I saw post #43.

Do private banks control the issue of US currency?

Yes they do.

Which banks? How?

And the how is published in the proceedings of the federal reserve

The Fed explains how private banks control the issue of US currency?
I don't believe you.

For example the 10 % reserve level of every loan as maximum capital backing before the point of issuance.

One of the reasons I don't believe you is you don't know the difference between reserve and capital requirements.

Feel free to come back if you find actual proof of your claims.

 

[montelatici]

David H. Friedman

Federal Reserve Bank of New York

Public Information Department
Federal Reserve Bank of New York
33 Liberty Street
New York, New York 10045

"The 12 regional Reserve Banks aren't government institutions but corporations nominally "owned" by member commercial banks...."


I Bet You Thought - Federal Reserve Bank of New York: David H. Friedman

 

[Toddsterpatriot]

David H. Friedman

Federal Reserve Bank of New York

Public Information Department
Federal Reserve Bank of New York
33 Liberty Street
New York, New York 10045

"The 12 regional Reserve Banks aren't government institutions but corporations nominally "owned" by member commercial banks...."


I Bet You Thought - Federal Reserve Bank of New York: David H. Friedman

nominally "owned"

adverb
1.
by or as regards name; in name; ostensibly:
He was nominally the leader, but others actually ran the organization.

the definition of nominally

You never showed how much the Fed earned last year or how much the "private owners" received.

 

[montelatici]

You typify the old "leading the horse to water" conundrum. LOL

"Federal Reserve Act


Section 7. Division of Earnings
(a) Dividends And Surplus Funds Of Reserve Banks.

1. Stockholder Dividends.
   1. Dividend Amount. 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 on paid-in capital stock of--
      1. in the case of a stockholder with total consolidated assets of more than $10,000,000,000, the smaller of--
         1. the rate equal to the high yield of the 10-year Treasury note auctioned at the last auction held prior to the payment of such dividend; and
         2. 6 percent; and
      2. in the case of a stockholder with total consolidated assets of $10,000,000,000 or less, 6 percent.
   2. Dividend Cumulative. The entitlement to dividends under subparagraph (A) shall be cumulative.
   3. Inflation Adjustment. The Board of Governors of the Federal Reserve System shall annually adjust the dollar amounts of total consolidated assets specified under subparagraph (A) to reflect the change in the Gross Domestic Product Price Index, published by the Bureau of Economic Analysis.
2. Deposit Of Net Earnings In Surplus Fund. That portion of net earnings of each Federal reserve bank which remains after dividend claims under subparagraph (1)(A) have been fully met shall be deposited in the surplus fund of the bank.
3. Limitations On Surplus Funds.
   1. In General. The aggregate amount of the surplus funds of the Federal reserve banks may not exceed $10,000,000,000.
   2. Transfer To The General Fund. Any amounts of the surplus funds of the Federal reserve banks that exceed, or would exceed, the limitation under subparagraph (A) shall be transferred 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."

FRB: Federal Reserve Act: Section 7