Thanks for the article. I know about the Fed Reserve, but I never read the Creature from Jekyll Ksland, though I did watch the Money Masters – Part 1 Money Masters – Part 2 series.

Thanks for the article. I know about the Fed Reserve, but I never read the Creature from Jekyll Ksland, though I did watch the Money Masters – Part 1 Money Masters – Part 2 series.

[quote=investor]The federal reserve is a private company, whose ownership is mostly unknown but I suspect are the wealthiest 2 people on earth[/quote]

Really? I direct you to the the question titled: “Who Owns the Federal Reserve?” in the link below. It’s not that mysterious. The 12 regional Federal Reserve Banks that comprise the Federal Reserve System are “owned” by their respective member banks – that is, a bank has to own stock in its regional Federal Reserve Bank to be a “member bank.” And the System is an independent, non-profit entity operating within the government.

I’m not saying this is the best system. I’m also not saying that shenanigans don’t go on. But… it’s not like some tiny group of ultra-wealthy folks OWN the System and manipulate it for their benefit. Although you could argue that a small group of folks (the wealthy, politicians, etc.) have undue INFLUENCE over the Federal Reserve’s policies – that’s true almost by definition. But your suspicions regarding actual “ownership” are incorrect.

http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm

[quote=investor]The federal reserve is a private company, whose ownership is mostly unknown but I suspect are the wealthiest 2 people on earth[/quote]

Really? I direct you to the the question titled: “Who Owns the Federal Reserve?” in the link below. It’s not that mysterious. The 12 regional Federal Reserve Banks that comprise the Federal Reserve System are “owned” by their respective member banks – that is, a bank has to own stock in its regional Federal Reserve Bank to be a “member bank.” And the System is an independent, non-profit entity operating within the government.

I’m not saying this is the best system. I’m also not saying that shenanigans don’t go on. But… it’s not like some tiny group of ultra-wealthy folks OWN the System and manipulate it for their benefit. Although you could argue that a small group of folks (the wealthy, politicians, etc.) have undue INFLUENCE over the Federal Reserve’s policies – that’s true almost by definition. But your suspicions regarding actual “ownership” are incorrect.

http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm

[quote=investor]The federal reserve is a private company, whose ownership is mostly unknown but I suspect are the wealthiest 2 people on earth[/quote]

Really? I direct you to the the question titled: “Who Owns the Federal Reserve?” in the link below. It’s not that mysterious. The 12 regional Federal Reserve Banks that comprise the Federal Reserve System are “owned” by their respective member banks – that is, a bank has to own stock in its regional Federal Reserve Bank to be a “member bank.” And the System is an independent, non-profit entity operating within the government.

I’m not saying this is the best system. I’m also not saying that shenanigans don’t go on. But… it’s not like some tiny group of ultra-wealthy folks OWN the System and manipulate it for their benefit. Although you could argue that a small group of folks (the wealthy, politicians, etc.) have undue INFLUENCE over the Federal Reserve’s policies – that’s true almost by definition. But your suspicions regarding actual “ownership” are incorrect.

http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm

Thanks for posting that davelj.

Conspiracy theories about the fed have been circulating for almost 100 years. The freemasons, the illuminati, the Rockefellers, JP Morgan and dozens more have been accused of running it, and manipulating the flow of funds that control the US (and to a great extent, the world) economy.

It’s primary specific charges are to avoid panic, and manage the money supply to provide both elasticity and stability in the market. Are those functions being manipulated by those who own it? You betcha. Is it transparent? Nope. Same way Ford and BP and Alcoa attempt to manipulate their markets without complete transparency.

No excuses being made here, that’s just the way it was set up by congress, under powers of delegation specified in the constitution. Part of the financial reform now under consideration in congress are audit and review powers over the Fed. The fed is fighting those reforms, and as is typical, support has fallen mostly along partisan lines, with republicans also rejecting those powers, democrats supporting those reforms. Strangely, the white house has been less supportive than democrats in either house. Fodder for more conspiracy theories.

Thanks for posting that davelj.

Conspiracy theories about the fed have been circulating for almost 100 years. The freemasons, the illuminati, the Rockefellers, JP Morgan and dozens more have been accused of running it, and manipulating the flow of funds that control the US (and to a great extent, the world) economy.

It’s primary specific charges are to avoid panic, and manage the money supply to provide both elasticity and stability in the market. Are those functions being manipulated by those who own it? You betcha. Is it transparent? Nope. Same way Ford and BP and Alcoa attempt to manipulate their markets without complete transparency.

No excuses being made here, that’s just the way it was set up by congress, under powers of delegation specified in the constitution. Part of the financial reform now under consideration in congress are audit and review powers over the Fed. The fed is fighting those reforms, and as is typical, support has fallen mostly along partisan lines, with republicans also rejecting those powers, democrats supporting those reforms. Strangely, the white house has been less supportive than democrats in either house. Fodder for more conspiracy theories.