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one might wonder why the members would bother , since they would be looking to derive some gain from somewhere ( apart from front-running/insider-trading )
one might wonder why the members would bother , since they would be looking to derive some gain from somewhere ( apart from front-running/insider-trading )There are no “shareholders” of the federal reserve in the way that we normally understand the word shareholders.
The Federal reserve have Members who must subscribe to stock in the fed reserve by depositing 6% of their capital base, but they don’t receive any profits, those are passed along to the government.
There are no “shareholders” of the federal reserve in the way that we normally understand the word shareholders.
The Federal reserve have Members who must subscribe to stock in the fed reserve by depositing 6% of their capital base, but they don’t receive any profits, those are passed along to the government.
Go read the book "The Creature from Jekyll Island" by Ed Griffin.And if we're clearing the mud, stricly speaking the "Members" are not ordinary banks -
Here is another little known gem from New Republic"A Federal reserve bank, which has accumulated a surplus fund, has legal authority, under the provisions of Section 7 of the Federal Reserve Act, to pay out of such fund, to its stockholding member banks dividends for a year in which the current earnings of the Federal reserve bank are insufficient for this purpose."
Rarely does a day go by when some House Republican doesn’t demand an end to Federal Reserve funding of the Consumer Financial Protection Bureau (CFPB). But you will never hear about the Fed’s direct subsidy to private banks that costs over three times as much as the total CFPB budget.
The subsidy comes in the form of a 6 percent dividend, paid on stock that over 2,900 banks purchase to participate in the Federal Reserve system. Very few places where ordinary Americans park their money offer such a risk-free benefit. In 2012 (the last year with available data), the Fed gave away $1.637 billion in dividends to banks, tax-free in the majority of cases. And the Fed has been doing this for the last 100 years. It’s one of the many unknown ways the Fed extends special benefits to Wall Street.
Go read the book "The Creature from Jekyll Island" by Ed Griffin.
The Fed reserve was created by the big banks in 1913
From the Fed reserve charter articles
Here is another little known gem from New Republic
It is owned by them.
If that does not make them shareholders what does.
It is controlled by them, for their benefit.
The US Gov has no control over it.
Mick
NOTE edited to correct the date when Fed was created.
I thought is was bleedin obvious, but I will play the game.Who is 'them'?
I thought is was bleedin obvious, but I will play the game.
The Them is the member banks who hold stock in the federal reserve banks, which is what the article stated
Mick
From the same article I quoted that refuted your statement that the 6% dividend goes to the government ( it goes to the 12 state reserve banks which in turn send it back to the owner banks as dividends under the same charter that set up the fed reserve).Not even close to 'obvious'.
The 'member banks' are Reserve Banks, each operating under the Federal Reserve System. They are an entity controlled by a board with a charter, answerable to laws, regulations and responsibility.
I don't mean to be blunt but unless you have specific examples, you are handing us conspiracy theories.
So the reserve banks are owned by the banks that operate in those 12 states. Does that make it any clearer/These Reserve Banks operate as private corporations owned by member banks in their districts, even though they also regulate the same banks. Their websites have a .org, not a .gov, suffix.
one might argue 'stake-holders' which implies a 'controlling interest ' rather than share-holders ( as retail share-holders understand it )Go read the book "The Creature from Jekyll Island" by Ed Griffin.
The Fed reserve was created by the big banks in 1913
From the Fed reserve charter articles
Here is another little known gem from New Republic
It is owned by them.
If that does not make them shareholders what does.
It is controlled by them, for their benefit.
The US Gov has no control over it.
Mick
NOTE edited to correct the date when Fed was created.
You have to be a member if you want to be a bank.one might wonder why the members would bother , since they would be looking to derive some gain from somewhere ( apart from front-running/insider-trading )
Think of it more like a club that costs money to be in, rather than a profit centre, any money the federal reserve does make gets paid to the government, it the shareholders/members.From the same article I quoted that refuted your statement that the 6% dividend goes to the government ( it goes to the 12 state reserve banks which in turn send it back to the owner banks as dividends under the same charter that set up the fed reserve).
So the reserve banks are owned by the banks that operate in those 12 states. Does that make it any clearer/
Mick
From the same article I quoted that refuted your statement that the 6% dividend goes to the government ( it goes to the 12 state reserve banks which in turn send it back to the owner banks as dividends under the same charter that set up the fed reserve).
So the reserve banks are owned by the banks that operate in those 12 states. Does that make it any clearer/
Mick
i will prefer the conspiracy theories thank you , since i lean more to the Austrian School of EconomicsThink of it more like a club that costs money to be in, rather than a profit centre, any money the federal reserve does make gets paid to the government, it the shareholders/members.
Everyone benefits from the existence of the federal reserve, you have to try and avoid the conspiracy theories that revolve around it.
Conspiracy Theory?Think of it more like a club that costs money to be in, rather than a profit centre, any money the federal reserve does make gets paid to the government, it the shareholders/members.
Everyone benefits from the existence of the federal reserve, you have to try and avoid the conspiracy theories that revolve around it.
Oh for crying out load. I never mentioned anything about the high quality individuals you talk about or accountable they are or to whom.As clear as mud. Your comments are very vague.
Each reserve bank has a board of highly qualified individuals, they receive and review a lot more information than any of us. As well has having regulations to follow while governing in the best interest of the people and country, they are liable to laws which hold 'them' accountable.
I can only presume that you are calling out corruption within the US Federal Banking System, but unable to name anyone or give specifics other than some vague document that sounds like it is written by a conspiracy theorist.
The Federal Reserve System is not "owned" by anyone. The Federal Reserve was created in 1913 by the Federal Reserve Act to serve as the nation's central bank. The Board of Governors in Washington, D.C., is an agency of the federal government and reports to and is directly accountable to the Congress.
Oh for crying out load. I never mentioned anything about the high quality individuals you talk about or accountable they are or to whom.
Rule no 1. Follow the money.
Rule no 2. see rule no 1.
You stated that the profit goes to the government.
I pointed out where this is incorrect, and any profit made goes to the individual banks who own the capital in each federal reserve bank.
As to the rest, got nothing to do with the oirginal post.
if you want to talk about corruption in the Fed Reserve, make another thread, more than happy to discuss that.
Mick
After it’s paid its expenses, all the federal reserves profits are turned over to the US treasury.Conspiracy Theory?
Did you not read the articles of association I quoted from in the setup of the Reserve banking system?
It distinctly said that if profits are made, dividends go to the 12 member reserve banks, which in turn , are owned by the private banks in each state.
And some of those private banks are subsidaries of non American Banks such as HSBC, Tokyo bank and even the Industrial and Commercial Bank of China.
Mick
Ok, Google “federal reserve Rothschild” and you will get more than enough fake federal reserve stories than you can read in a life time ?i will prefer the conspiracy theories thank you , since i lean more to the Austrian School of Economics
Oh for crying out load. I never mentioned anything about the high quality individuals you talk about or accountable they are or to whom.
Rule no 1. Follow the money.
Rule no 2. see rule no 1.
You stated that the profit goes to the government.
I pointed out where this is incorrect, and any profit made goes to the individual banks who own the capital in each federal reserve bank.
As to the rest, got nothing to do with the oirginal post.
if you want to talk about corruption in the Fed Reserve, make another thread, more than happy to discuss that.
Mick
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