Who Runs The "Fed"?

[Mike]

Federal Reserve System
The system was set up so that special interests in congress or the presidency would not abuse the power to create money or abuse the government regulations over banks. In order to achieve this, the Federal Reserve System was organized to be separate from the 3 branches of government. This is supposed to make it impartial to special interests so that it could make policies that are good for the people of the United States and so that it is fair to everyone. The members of its Board of Governors are appointed for long, staggered terms, limiting the influence of day-to-day political considerations.[20] The Fed’s unique structure also provides internal checks and balances, ensuring that its decisions and operations are not dominated by any one part of the system. The system is organized much like private corporations so that it can generate revenue independently without the need for congress. Since it was designed to be independent while also remaining within the government of the United States, it is often said to be "independent within the government". The Federal Reserve explains the independence within government in the Federal Reserve System FAQ:[21]

'The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.
As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by 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 Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."
The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like 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, 6 percent per year.'
By law, banks in the United States must maintain fractional reserves either as vault cash or on account at the Fed; member banks earn no interest on either of these. The dividends paid by the Federal Reserve Banks to member banks are considered partial compensation for the lack of interest paid on the required reserves. All profit after expenses is returned to the U.S. Treasury or contributed to the surplus capital of the Federal Reserve Banks (and since shares in ownership of the Federal Reserve Banks are redeemable only at par, the nominal "owners" do not benefit from this surplus capital); the Federal Reserve system contributed over $29 billion to the Treasury in 2006.[22]

[fff]

Democrats have been on the Fed's case ever since they took over the various banking committees after last year's election. You can't expect Dems to fix things in a year or even two that the Bushies have been ignoring for eight. Just for the record, Dodd has introduced new legislation that will take some of the Fed's independence.

[Mike]

[Steve]

fff

[Texan]

[MoGal]

Actually, the people of the US need to pressure their congressional leaders to do away with the Federal Reserve, they can take it over at anytime.

Here are some links that will help you to understand who the federal reserve is:

The real owners of the Federal Reserve and the Federal Reserve System are:

a) Rothschild Banks of London and Berlin;
b) Lazard Brothers Bank of Paris;
c) Israel Moses Seif Banks of Italy;
d) Warburg Bank of Hamburg and Amsterdam;
e) Lehman Brothers Bank of New York;
f) Kuhn, Loeb Bank of New York;
g) Chase Manhattan Bank of New York;
h) Goldman Sachs Bank of New York; and
i) Approximately three hundred people, known to each other and/or relations of the "owners," who hold stock in the Federal Reserve System. They comprise an interlocking, International Banking Cartel of wealth beyond comprehension.

the link with much more info: http://www.apfn.org/Mind_Control/money/money.htm
-------------------------------------------------------

this is an entire book, which is interesting: http://www.apfn.org/apfn/reserve.htm

__________________________

chart of "who" owns the Federal Reserve:
http://www.save-a-patriot.org/files/view/whofed.html

Chart 1 reveals the linear connection between the Rothschilds and the Bank of England, and the London banking houses which ultimately control the Federal Reserve Banks through their stockholdings of bank stock and their subsidiary firms in New York. The two principal Rothschild representatives in New York, J. P. Morgan Co., and Kuhn,Loeb & Co. were the firms which set up the Jekyll Island Conference at which the Federal Reserve Act was drafted, who directed the subsequent successful campaign to have the plan enacted into law by Congress, and who purchased the controlling amounts of stock in the Federal Reserve Bank of New York in 1914.

[MoGal]

[Steve]

MoGal

[MoGal]

The "who" of the Federal Reserve receives the interest.

that 3rd link (above) is put out by the House of Representatives in 1976 and that is one of the reasons I don't understand why we're bailing out JP Morgan when they own controlling interest (stock) in the Federal Reserve.

What do they do with all that interest they charge the US people for the money they print?? What do they do with all the money in interest they get from the banks??

This has been going on since 1913 so they've made exorbitant amounts of money.... anytime you hear about the "interest" costs on our debt..... that is what the Federal Reserve is charging the USA for printing our own money......... that's why I think its a scam.

[Steve]

MoGal

[MoGal]

Steve: 6% of how much??? There has never been an auditing of the Federal Reserve, how do we know what they "claim" is correct??

Quote:

(2) Is the Federal Reserve System owned by other private banks who are system members? Yes Do private banks, for example, purchase equity interests in the Federal Reserve System? Yes If so, does the System pay them dividends or interest or what on their equities in the System? The System pays a dividend of 6% established by law. After paying its expenses, the System turns the rest of its earnings over to the U.S. Treasury. http://www.choicefinance.net/blog/2008/01/10/who-is-the-federal-reserve ------------------------------------------ Actually here's Congressman's McFaddens claims back during the depression years....... http://federal-reserve.com/part2.htm

[MoGal]

deleteed since it was a double post