Wow so simple………….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.
got it that explains everything…..wait a second….mmmmm does this have something to do with why those rich bankers and investment bankers make billions and the dry cleaner went bankrupt?
Oh that’s right Allen and Sv will probably say”….grow up that the way things are…live with it” . Since you guys have such a firm grasp…..f***it…let me bend over and have some bernanke.
By the way it’s not a conspiracy if it is in your face. Remember when you were a commie if you didn’t take Ollie Norths side? Guess what that was a conspiracy that involved hundreds.
Why don’t we all get our facts right then have a real debate. Oh that’s right there are no facts. Any substantive question put to the Fed Chairman is repeatedly not answered.
Bottom line, I will give Investor the benefit of the doubt on this one.[/quote]
I don’t agree with Allan on much politically, but on this we do agree. I’m quite sure I didn’t say (nor do I believe) that we should “live with it”. I’m all in favor of the fed being audited regularly, and substantially more oversight than currently exists. The fed was created by congress, under it’s power of appointment granted in Section 1 of the constitution. It can just as easily amend the mechanism under which it was created.
The problem is not ownership. The problem is it’s lack of transparency in operation.
