Is the Federal Reserve Banking system part of the federal government?
I would say no, but a school teacher I was chatting with at the coffee shop said, "Of course it's part of the government." If it is, that is never said on any of the web sites of the twelve banks that comprise "the system." Now granted, the Board of Governors of the Fed is a federal government agency, but that's a board, not the Fed itself. The members of the Board are appointed by the President and approved by Congress for 14 year terms.But the Fed itself is a central bank, private shareholder owned, and no matter where you look for answers you'll find either right wing, anti-semites who will swear it's a plot by Jews to own the world, or extremely non-commital bank owned sites and publications which are pretty mum about who and what they are.
I know this. There's a lot out there about what the Fed does, but not about who is in charge or who owns it.
- Today, the Federal Reserve’s duties fall into four general areas:
conducting the nation’s monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates
supervising and regulating banking institutions to ensure the safety and soundness of the nation’s banking and financial system and to protect the credit rights of consumers
maintaining the stability of the financial system and containing systemic risk that may arise in financial markets
providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation’s payments system.
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5 comments:
Hi Norma, I was really offended by your "copycat" comment on my blog. FYI: There was a Teleprompter Blog long before the one my boss Rush told everyone about TOTUS' blog. Go see for yourself... http://obamasteleprompter.blogspot.com/
Now who is the copycat???
Love, Golden EIB MIC
But the microphone doesn't appear to be around when Rush talks. How can that be?
"I believe that banking institutions are more dangerous to our liberties than standing armies . . . 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 [the banks] . . . will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered . . . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." -- Thomas Jefferson
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." --Woodrow Wilson, after signing the Federal Reserve into existence
Btw No; The Federal Reserve is not part of the federal government.
http://www.youtube.com/watch?v=_dmPchuXIXQ
I'm sure you wont like the rest of this move . So I found the part that has to do with the subject at hand .
And as always , I checked the funding and the references . References good , funding questionable :)
I believed the Fed is not part of the Federal gov't, but when looking at its own documents (written by the banks that make up the system), they certainly do go around the mulberry bush. Obviously, people disagree on this one, and the anti-semites who write a lot of the anti-fed stuff bother me, and should bother you.
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