scot1870 wrote:The Central Banks of most countries are government owned so your argument doesn't stand up.
I think you will find it does….
How about starting with the worlds most powerful? The Federal Bank of the USA which came into effect in 1913 as the Federal Act. This was signed by President Woodrow Wilson (who later expressed deep regret over this as the very thing that would ruin his great country and its constitution).
So lets start with the Fed’s own web site as source on ownership. They also have a few other interesting Q&A’s whilst we are there.
Who owns the Federal Reserve?
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.
Can you see any contradictions here? "The Federal Reserve System is not "owned" by anyone and is
not a private, profit-making institution", "it is an
independent entity within the government, having both public purposes and
private aspects"
So that’s much help – not ‘owned’ by anyone, and they are not a private profit making institution, yet they have private aspects? Sounds like double speak to me.
Let’s try to find out what the public aspects consist of. I have tried and failed to dig up the private aspects (as have many other people far more knowledgeable then me).
How is the Federal Reserve funded?
The Federal Reserve's income is derived primarily from the interest on U.S. government securities that it has acquired through open market operations. Other sources of income are the interest on foreign currency investments held by the System; fees received for services provided to depository institutions, such as check clearing, funds transfers, and automated clearinghouse operations; and interest on loans to depository institutions (the rate on which is the so-called discount rate). After paying its expenses, the Federal Reserve turns the rest of its earnings over to the U.S. Treasury.
So that sounds like any other private bank to me. They charge interest and they also charge fee’s for services rendered.
Still after claiming for expenses they turn the rest of it’s earnings over to the US treasury Department – note the use of words here – they turn the ‘rest’ of it’s earnings over, this does not include the profits outlined above nor the private aspects.
So the next question may be ‘Come on? Surely if they were this corrupted and powerful the government would put a stop to this?'
Well the last person who did try to stop the Federal Reserve from printing money and loaning it to the government ‘with interest’ was none other the president John F Kennedy. On June the 4th 1963 he signed a Presidential Decree (Order 11110).
He returned the power to print money to the US Treasury under the vision of re balancing the countries bullion stock to the legal tender and removing the ability for private banks to make interest off money loaned to the government and created literally from thin air.
After this the US treasury got to work and proceeded to print $4 billions worth of new notes which were issued as interest and dept-free currency. The name changed as well from ‘Federal Reserve Note’ to ‘United States Note’ as it had been in the first place.
However, unfortunately the change did not last long. He was assassinated on November 22, 1963 and the United States Notes he had issued were immediately taken out of circulation. Federal Reserve notes continued to reign and eventually all ‘United States Notes’ were out phased.
If you like can also outline how this came from the United Kingdom and is still a very much big part of the Bank of England and how a few elite individuals were involved and are still involved. Slowly, but without failure they moving towards a model of Global centralized banking. This is exactly what bush means when he talks of taking Democracy and Freedom to other countries.
Lastly here are some quotes from people who I believe are of the caliber and experience to be deemed qualified to listen to;
"Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States" -- Sen. Barry Goldwater (Rep. AR)
"This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President
[Wilson} signs this bill, the invisible government of the monetary power will be legalized....the worst
legislative crime of the ages is perpetrated by this banking and currency bill." --
Charles A. Lindbergh, Sr. , 1913
"From now on, depressions will be scientifically created." -- Congressman Charles A.
Lindbergh Sr. , 1913
"The financial system has been turned over to the Federal Reserve Board. That Board asministers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money" -- Charles A. Lindbergh Sr., 1923
"The Federal Reserve bank buys government bonds without one penny..." -- Congressman
Wright Patman, Congressional Record, Sept 30, 1941
"We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it". -- Congressman Louis T. McFadden in 1932 (Rep. Pa)
"Some people think the Federal Reserve Banks are the United States government's institutions.
They are not government institutions. They are private credit monopolies which prey upon the people
of the United States for the benefit of themselves and their foreign swindlers" -- Congressional
Record 12595-12603 -- Louis T. McFadden, Chairman of the Committee on Banking and
Currency (12 years) June 10, 1932
"I have never seen more Senators express discontent with their jobs....I think the major cause is
that, deep down in our hearts, we have been accomplices in doing something terrible and
unforgiveable to our wonderful country. Deep down in our heart, we know that we have given our
children a legacy of bankruptcy. We have defrauded our country to get ourselves elected." -- John
Danforth (R-Mo)
"These 12 corporations together cover the whole country and monopolize and use for private
gain every dollar of the public currency..." -- Mr. Crozier of Cincinnati, before Senate Banking and
Currency Committee - 1913
"The [Federal Reserve Act] as it stands seems to me to open the way to a vast inflation of the
currency... I do not like to think that any law can be passed that will make it possible to submerge
the gold standard in a flood of irredeemable paper currency." -- Henry Cabot Lodge Sr., 1913