FEDERAL RESERVE (is it a private corporation??)

Gail · Member

Okay guys this is my first post so be gentle. This has probably been addressed before but I just want some input as to validity pertaining to the subject. How can this possibly be true and the fact that it's a banking cartel made up of eight wealthy families. Has never been audited and never paid taxes. I've recently been made aware of this and being the gung-ho former Marine (served two tours in 'Nam)its hard for me to comprehend due to my lean towards patriotism.

James H. · Member

Gail,

Welcome to the board. You are in for a fine education here. Unfortunately, you will have to unlearn a lot things you came to know as the truth as to how things really work. I retired AF (I know, Junior Birdman) and it has been very eye opening with the this little tid bit about the Fed being the least of the issues. A lot about our financial system is like the old saying about sausage and laws - you don't want to watch while they're being made.

I believe the Fed is chartered by the government but for all intents and purposes your understanding is correct and it really does just operate through several of the big investment banks i.e. they get first dibs on newly created money - and you know what that means. Welcome to Kansas, Dorothy.

James H.

Bruce · Member

Gail,
Welcome to the board Smile

!!!
For a Bank ownership in the Fed IS PART OF THE DEAL..EVERY BANK OWNS A SMALL PART OF THE ACTION BUT THAT IS NOT WHERE THEY MAKE A LOT OF MONEY UNLESS THEY WORK THE DAILY DOUBLE ( GET IN ON THE DAILY BID AS DONE IN NEW YORK).
YOU CAN CHECK THE ACTION WWW.NY.FRB.ORG
As far as the twelve reginal Fed banks are you will find it interesing , they pay a lot of money the use the money. Check the reports on the NEW York bank.

good luck, Bruce