You do know the Federal Reserve Banks help cause this crisis?

[Ichingcarpenter]

I also hope that you see what private individuals and banks run these cartels.

Many think Kennedy was killed for his efforts to take away the power of the Federal Reserve Bank

[gateley]

1. We know, and feel as you do. nt

[seafan]

2. The Federal Reserve should be abolished as part of the bailout.

No one man, especially a Bush political appointee, should have 888 billion dollars of our money to use as he sees fit.


We've seen this horror movie repeatedly.

[Ichingcarpenter]

3. Hank Paulson (Treasury Secty) owns $350 million in Goldman Sachs interests

Lehman goes bankrupt, Merrill bought at a cheap price, AIG shareholders diluted to near zero, Morgan Stanley and Goldman Sachs taking huge dumps by noon yesterday, and Paulson comes out with this plan to help out the entire financial industry?

No tinfoil hats needed folks. When it hits home for a republican, all of a sudden 'there's a problem for the government to fix'

http://www.slate.com/id/2143018 /

All over the news? Um, crickets......only crickets

The man should be hung for treason.

Link to Jacobin's thread:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4039360

[Ichingcarpenter]

4. President John F. Kennedy signed Executive Order No. 11110

On June 4, 1963, a little known attempt was made to strip the Federal Reserve Bank of its power to loan money to the government at interest. On that day President John F. Kennedy signed Executive Order No. 11110 that returned to the U.S. government the power to issue currency, without going through the Federal Reserve. Mr. Kennedy's order gave the Treasury the power "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This meant that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation. In all, Kennedy brought nearly $4.3 billion in U.S. notes into circulation. The ramifications of this bill are enormous.
http://www.john-f-kennedy.net/executiveorder11110.htm

[dgibby]

8. He also wanted to disband the CIA

He sure did po some very bad people, didn't he?

[midnight]

6. That is a revolutionary idea. You must have some left over

DNA from our founding fathers/mothers.

[Rocky2007]

11. You seem to forget one important item

And that is the the Federal Reserve Bank is owned by the United States Government. The directors are appointed by the President and the Fed answers to congress directly.

[Ichingcarpenter]

12. Court Rules Federal Reserve is Privately Owned

Lewis v. United States, 680 F.2d 1239 (9th Cir. 1982)


John L. Lewis was injured by a vehicle owned and operated by a federal reserve bank, and brought action alleging jurisdiction under the Federal Tort Claims Act. The District Court dismissed the case by ruling that the federal reserve bank was not a federal agency within meaning of the Federal Tort Claims Act and the court therefore lacked subject-matter jurisdiction. The Appeals court affirmed the decision.

The court stated “Examining the organization and function of the Federal Reserve Banks, and applying the relevant factors, we conclude that the Reserve Banks are not federal instrumentalities for purpose of the FTCA, but are independent, privately owned and locally controlled corporations.”

However, this does not imply, as so many wrongly interpret, that private individuals own the banks for the court also stated “Each Federal Reserve Bank is a separate corporation owned by commercial banks in its region. The stockholding commercial banks elect two thirds of each Bank’s nine member board of directors. The remaining three directors are appointed by the Federal Reserve Board. The Federal Reserve Board regulates the Reserve Banks, but direct supervision and control of each Bank is exercised by its board of directors. 12 U.S.C. Sect. 301. The directors enact by-laws regulating the manner of conducting general Bank business, 12 U.S.C. Sect. 341, and appoint officers to implement and supervise daily Bank activities. These activities include collecting and clearing checks, making advances to private and commercial entities, holding reserves for member banks, discounting the notes of member banks, and buying and selling securities on the open market. See 12 U.S.C. Sub-Sect. 341–361.



Lewis v. United States, 680 F.2d 1239 (1982)
John L. Lewis, Plaintiff/Appellant,
v.
United States of America, Defendant/Appellee.
No. 80-5905
United States Court of Appeals, Ninth Circuit.
Submitted March 2, 1982.
Decided April 19, 1982.
As Amended June 24, 1982.

Plaintiff, who was injured by vehicle owned and operated by a federal reserve bank, brought action alleging jurisdiction under the Federal Tort Claims Act. The United States District Court for the Central District of California, David W. Williams, J., dismissed holding that federal reserve bank was not a federal agency within meaning of Act and that the court therefore lacked subject-matter jurisdiction. Appeal was taken. The Court of Appeals, Poole, Circuit Judge, held that federal reserve banks are not federal instrumentalities for purposes of the Act, but are independent, privately owned and locally controlled corporations.

Affirmed.

1. United States

There are no sharp criteria for determining whether an entity is a federal agency within meaning of the Federal Tort Claims Act, but critical factor is existence of federal government control over "detailed physical performance" and "day to day operation" of an entity. . . .

2. United States

Federal reserve banks are not federal instrumentalities for purposes of a Federal Tort Claims Act, but are independent, privately owned and locally controlled corporations in light of fact that direct supervision and control of each bank is exercised by board of directors, federal reserve banks, though heavily regulated, are locally controlled by their member banks, banks are listed neither as "wholly owned" government corporations nor as "mixed ownership" corporations; federal reserve banks receive no appropriated funds from Congress and the banks are empowered to sue and be sued in their own names. . . .

3. United States

Under the Federal Tort Claims Act, federal liability is narrowly based on traditional agency principles and does not necessarily lie when a tortfeasor simply works for an entity, like the Reserve Bank, which performs important activities for the government. . . .

4. Taxation

The Reserve Banks are deemed to be federal instrumentalities for purposes of immunity from state taxation.

5. States Taxation

Tests for determining whether an entity is federal instrumentality for purposes of protection from state or local action or taxation, is very broad: whether entity performs important governmental function.

--------------

http://nesara.org/court_summaries/lewis_v_united_states.htm







Is the Fed Private or Public?
IT'S A DECENTRALIZED CENTRAL BANK, INSIDE THE GOVERNMENT AND INDEPENDENT FROM IT.
By Juliet Lapidos
Posted Friday, Sept. 19, 2008, at 6:21 PM ET
On Wednesday, the Explainer described why the U.S. Federal Reserve happened to have $85 billion lying around to bail out American International Group. By Thursday afternoon, our inbox was deluged with e-mails asking why we made the Fed sound like a government agency by using the terms "Fed" and "government" interchangeably in reference to the AIG loan deal. Wait a minute: Is the Federal Reserve public or private?

It's neither. From one perspective, the Fed looks like a public institution: Congress created it in 1913 to maintain the stability of the financial system; the president appoints, and the Senate confirms, the members of its Board of Governors; and it's not out to make a profit—after taking care of expenses, the Fed hands off its earnings to the Treasury. Furthermore, the details of its responsibilities are subject to congressional oversight. Still, the Fed is rightly classified as an independent central bank. Neither the executive branch nor the legislature gets a direct say in its decision-making, and it pays for its own operations (primarily by acquiring U.S. government securities on the open market). In short, the Fed is an independent entity within the government.

The Fed is organized like a federation—there's a central governing agency in Washington, D.C., and 12 regional banks scattered across the country. These 12 banks issue shares of stock to thousands of private member banks, including institutions like the Deutsche Bank Trust Co. of America and the Gotham Bank of New York. But regional bank membership isn't like owning stock in Coca-Cola. The member banks are not allowed to sell or trade their shares, which produce dividends at a fixed rate of 6 percent. And they must invest 3 percent of their capital in the Federal Reserve Banks.


http://www.slate.com/id/2200411/

[Rocky2007]

13. Interesting

So much for my 1955 American Government class.

It really looks like a 'smoke and mirrors' judgment though: it's still looking as if the Fed still has at least some responsibilities to executive and legislature. (see bold below) Also, "neither branch get a direct say in decision making" - how limited are the branches I wonder?

Snip

"It's neither. From one perspective, the Fed looks like a public institution: Congress created it in 1913 to maintain the stability of the financial system; the president appoints, and the Senate confirms, the members of its Board of Governors; and it's not out to make a profit—after taking care of expenses, the Fed hands off its earnings to the Treasury. Furthermore, the details of its responsibilities are subject to congressional oversight. Still, the Fed is rightly classified as an independent central bank. Neither the executive branch nor the legislature gets a direct say in its decision-making, and it pays for its own operations (primarily by acquiring U.S. government securities on the open market). In short, the Fed is an independent entity within the government."

[Ichingcarpenter]

14. The more you read on the major players of the federal reserve

the more you will see how fuck up it is. Start with the simple history
at wikipedia then branch out to the players and the banks.

[melody]

15. The Fed was created to bring this about

Now that the money vampires have sucked us dry, maybe they'll leave us alone to rebuild.

[lonestarnot]

5. And if there is any killing done, well God won't need to bless America,

he will need to put out the fire with a hurricane from all angles.

[dgibby]

7. Isn't' the Fed illegal and Unconstitutional? nt

[Greyhound]

9. The fractional reserve central bank system was created specifically to cause this.

If, somehow, BO does manage to ameliorate this disaster, and if the Fed is left intact and we continue to participate in the global Ponzi scheme, we will simply go through all of this again. This is what FDR failed to see or worked to preserve.

There is only one, infallibly inevitable conclusion to this scheme, and every time we try to pretend otherwise, the stick gets shorter and shittier.




WAKE UP AMERICA!

[TexasObserver]

10. Absolutely. The FED failed in its duty to stop inflation, instead issuing cheap money.

They created this mess. Without their discount rates and loose policies, none of this could have happened.

Calling the Fed to fix it would be as crazy as expecting Condi Rice's right hand man to want a thorough and honest investigation of 9-11.

[JohnyCanuck]

16. Watch the video "Money as Debt"

to see how today's central banks, including the Fed, got their start and the fundamental flaw behind the way the banking system creates money through debt (bank loans, mortgages etc).

If you have a high speed connection, you can watch it online here:
http://brasschecktv.com/page/135.html

Or you can purchase it on DVD from the web site http://moneyasdebt.net

Elizabeth J. Kucinich, monetary reform activist partner of
Congressman, and US Presidential aspirant, Dennis Kucinich (D-OH)

"I have worked for a long time looking into monetary reform and after 10 years, finally someone has produced a DVD entitled "Money as Debt". It is a fabulous fun yet powerful introduction to the issue of monetary reform. It's the best over view I have seen so far; the best by far. ESSENTIAL! Everyone should watch it!

The topic of DebtMoney is THE issue of our times. It forms the basis to every nation's areas of core material and spiritual concerns such as economic development, employment and environmental sustainability.

If only government officials, civil society organizations, environmental groups, unions and well meaning international development strategists trying to eradicate poverty really understood this topic... the world would be a much better place.

http://moneyasdebt.net/ (click on reviews)

[JohnyCanuck]

17. The Need for Monetary Reform

"I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its own money....I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with the Congress for sitting idly by and permitting such an idiotic system to continue.”

The late Congressman Wright Patman, Former Chairman of the House Committee on Banking and Currency
http://www.monetary.org/need_for_monetary_reform.html