Except for coins, every dollar in circulation is now created privately as a debt to the Federal Reserve or the banking system it heads.4 The Fed’s website attempts to gloss over its role as chief defender and protector of this private banking club, but let’s take a closer look. So that is a likely place to start. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. Ben Franklin Financial, Inc. Has Received Stockholder and a Required Federal Reserve Board Approval in Connection with its Proposed Strategic Transaction … A smear campaign against McFadden ensued and he was poisoned 3 years later. As such, avoiding the pit falls of the Federal Reserve conspiracy theories and misinformation is at times a futile effort. The program will auction Treasury bills to raise cash for the Fed’s use. Chart 2. Why is the Treasury issuing U.S. government bonds (or debt) to fund the Fed, which is itself supposedly “the lender of last resort” created to fund the banks and the federal government? So is the Fed private or public? The Fed periodically reports to Congress, but the Fed doesn’t ask; it tells. The website of the Federal Reserve Bank of New York explains that as money is redeposited and relent throughout the banking system, this 10% held in “reserve” can be fanned into ten times that sum in loans; that is, $10,000 in reserves becomes $100,000 in loans. Member ID Number Member Bank, Shareholder, and Owner Name. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! A mere 6% a year may not be considered a profit in the world of Wall Street high finance, but most businesses that manage to cover all their expenses and give their shareholders a guaranteed 6% return are considered “for profit” … The Fed’s website insists that it is not a private corporation, is not operated for profit, and is not funded by Congress. . Become Member of The Centre of Research on Globalization grants permission to cross-post Global Research articles on community internet sites as long the source and copyright are acknowledged together with a hyperlink to the original Global Research article. In addition to this guaranteed 6%, the banks will now be getting interest from the taxpayers on their “reserves.” The basic reserve requirement set by the Federal Reserve is 10%. Federal Reserve Bank stock are different than the common stock of typical corporations. The Fed generates profits for its shareholders. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve Act of 1913. Its shareholders are private banks. The purpose of POM has always been to function within well-disciplined research habits and present a factual thesis on the international monetary framework. Proceedings of the Seventh Annual Meeting of Stockholders of the Federal Reserve Bank of Boston : Held at … None of its stock is owned by the government. Vast conspiracy theories have been presented and laborious efforts have been undertaken to expose the actual shareholders and owners of the system. Each of the twelve regional Federal Reserve banks are made up from member banks in each region, as well as shareholders and owners. The decision is the first such move since the global financial crisis 12 years ago, and limits how banks can spend their capital amid the coronavirus pandemic that has caused a sharp economic downturn. The initiative aims to help the Fed manage its balance sheet following its efforts to enhance its liquidity facilities over the previous few quarters.”. List of Federal Reserve Member Banks 1914. Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. While I have ignored information promoting some sort of Jewish or Rothschild conspiracy surrounding the Federal Reserve, the fact remains that there are international banking interests that manipulate and direct the path of the monetary framework which governs the wealth of nations. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. However, owning Reserve Bank stock is quite different from owning stock in a private company. Among other benefits to the taxpayers. At that time, their total assets were listed at $143,000,000, from the sale of shares in the Federal Reserve Banks to stockholders of the national banks which subscribed to it. But there is no need for secret cabals and intricate conspiracy theories based on misdirection and fabrication. The only real leverage Congress has over the Fed is that it “can alter its responsibilities by statute.” It is time for Congress to exercise that leverage and make the Federal Reserve a truly federal agency, acting by and for the people through their elected representatives. LIABILITIES AND STOCKHOLDERS… Yahoo Finance reported on September 17: “The Treasury is setting up a temporary financing program at the Fed’s request. 3. Help support POM and further research by subscribing. On May 23 1933, Congressman Louis T. McFadden brought impeachment charges against the members of the Federal Reserve Bank. The Federal Reserve is the cornerstone of the American economy. 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