Who owns the Federal Reserve

I'm just curious if anyone here can tell me the names of those people who own the FED? It is a private company not a government one so operates under its own rules and regulations that only it makes up, not the government.

Is there any way to have the FED dismantled and done completely away with?

 

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You could try but you might end up with a bullet through your skull.

 

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False. The Federal Reserve has both public and private components, but is basically a government entity in the big-picture "who owns it" sense.

Act of Congress. Same way it was created.

 

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Who are those people?


Aldrich's bill was met with much opposition from politicians. Critics were suspicious of a central bank, and charged Aldrich of being biased due to his close ties to wealthy bankers such as J. P. Morgan and John D. Rockefeller, Jr., Aldrich's son-in-law. Most Republicans favored the Aldrich Plan, but it lacked enough support in Congress to pass because rural and western states viewed it as favoring the "eastern establishment". In contrast, progressive Democrats favored a reserve system owned and operated by the government; they believed that public ownership of the central bank would end Wall Street's control of the American currency supply. Conservative Democrats fought for a privately owned, yet decentralized, reserve system, which would still be free of Wall Street's control.

The original Aldrich Plan was dealt a fatal blow in 1912, when Democrats won the White House and Congress. Nonetheless, President Woodrow Wilson believed that the Aldrich plan would suffice with a few modifications. The plan became the basis for the Federal Reserve Act, which was proposed by Senator Robert Owen in May 1913. The primary difference between the two bills was the transfer of control of the Board of Directors (called the Federal Open Market Committee in the Federal Reserve Act) to the government. The bill passed Congress in late 1913 on a mostly partisan basis, with most Democrats voting "yea" and most Republicans voting "nay".

According to the Federal Reserve Bank of Minneapolis, "the Federal Reserve has the authority and financial resources to act as 'lender of last resort' by extending credit to depository institutions or to other entities in unusual circumstances involving a national or regional emergency, where failure to obtain credit would have a severe adverse impact on the economy." The Federal Reserve System's role as lender of last resort has been criticized because it shifts the risk and responsibility away from lenders and borrowers and places it on others in the form of inflation.

http://en.wikipedia.org/wiki/Federal_Reserve_System

 

The ones listed in your link:

 

It doesn't give names anywhere only other banks.:shrug:

 

So other banks own the FED from what I read, if so then when they digitize money, or print money as it was once known as, they are only helping themselves and will cause inflation to increase then taxpayers will be billed again . That FED really knows how to make money from nothing for its owners doesn't it?

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You watched Glen Beck today didn't you! That book has been out for quite awhile you know . The College Kid at the local shop gas and stop was reading it between cashiering the other day. I said " I can't believe you have that book and your a college student . He said you know your in trouble when the village idiot tells you about the truth

 

"The private components" its the dagger through the heart, they have more power than we could ever assume.

 

1 I do not think it is a government agency, I do not eat green eggs and ham.

2 Never happen as long as congress is sucking on the tit of the fat cow

 

Saying the Federal reserve is a government agency is like saying the American Plywood Association is a 3rd party entity that looks out for public interests. The truth is the A.P.A is payed by lumber mills . The bulk of there money comes from Georgia Pacific and if they don't put in there reports things that favor the wood industry they better start looking for a new job . I battled the bastards and won once . Not really for the cost of replacing the defective product came right out of the local managers pocket . My community lost and the corporation that supplied the defective product that failed got away Scott free. Funny how that works . Cronyism is real . Face the facts of life

 

We are really being screwed big time, aren't we.

 

I believe we are big time . Consider bankers violating banking principles all business people know . To Me it was done on purpose. People think it was easing of regulation that caused the collapse of the economy. Us business people in the know could see it coming because of the violation of laws of finance and we would warn of impending doom on the horizon . If I a small business man could see it coming then the people in high positions in power had to see it too. I think it was planed by the people in control of the monetary system . All about market shares on a global scale. The American work force costing to much in labor and the need to level the over payed American to the level of competition with the rest of the world . So how do you do that ? Strip the American of his perceived wealth maybe ? By making a large population of unemployed people and at the same time instill fear in the people still working ?
I don't know and it is speculation , yet I believe it was planned by the central banks that are members of the Federal reserve . Just like Georgia Pacific and the A.P.A . Screw the little guy and not give it another thought. The reason I had Georgia Pacific over the barrel in the first place was because the A.P.A. inspector took pity on Me because he personally was tired of seeing the little guy take the fall. Plus I built the house of the President of Stimson Lumber and he told Me what to do to get results . He was a witness to the abuse of the large corporation too. But Like I say my own community payed the price not Georgia Pacific . They called Corporate U.B.C. and told them to pay Me off and get Me out of the loop and they would settle up on the side . Never Happened . U.B.C. ate it and it come right out of local management . My fiends that is the true nature of Big Business and the Federal Reserve is completely aware of what is going on. Cronyism is real and there is no such thing as even playing fields . Who you know and not what you know and the rest of us are eaters of world resources

 

Yes, how true that is. But there's something that could be done if Congress will only vote to remove the FED out of existance we might have a better chance in the long run.

 

The Fed really is a big problem because it prints currency which floods the economy and causes inflation. Therefore we get artificial economic expansions and booms-bubbles due to the injection of money which eventually blow up and screw the economy and the process restarts.
I would assume that Corporations primarily Banking, own the Federal reserve because they can get into risky loans and business and when it all go's to pot the Government is there to bail them out.
Which is why lobbying has to be stopped and we need Financial regulations written.
For books that explain it pretty well I would recommend "Lord's of Finance" and "Freefall" by Joseph Stigilitz

 

No it does not shift risk. The bank and the bank's owners can loose 100 percent of their investment in the bank. What the Federal Reserve does by acting as lender of last resort is to provide liquidity into the banking system just as it did during the Great Recession of 2008 - 2009.

 

Oh, on just what authority do you base this claim? The Federal Reserve does not print money nor does it strike the nations coinage. I suggest you do some research.

No, the US government owns the Federal Reserve. It is an independent agency of the federal government.

http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm

This has been explained to a number of people on this board over and over again. I guess fantasy land is a much better place for those folks to live and play.

The Fed in conjunction with the Comptroller of the Currency regulate the nations banks. It is the Comptroller of the Currency who closes insolvent banks.

On this issue we are in agreement.

 

But as been the case they just make the taxpayers pay them off to cover themselves and allow the FED to print/digitize more money for them to use. They can't lose unless the dollar plunges in value with hyper inflation, which could happen.

 

All national banks are required to buy a share in the Fed. In exchange for buying that share, the member banks get nothing except that the Fed can come and ask them for more money in the future. They do not get to select the leadership of the Fed, and they do not get to influence its policy. The leadership is selected by the President (with the advice and consent of the Senate), and those leaders set the policy.

The purchase of the share in the Fed gives the Fed the right to, in effect, tax those banks. If the Fed were to ever declare a profit, then the Fed could pay the banks a dividend, but it never actually has. The reason it has "shares" at all, is that it was intended to be funded by member banks and to turn a profit. Since the banks would pay to fund it, Congress though those banks should reap the profits. In effect, though it never worked that way.

It is true that the Fed can create money out of thin air and could cause inflation. In reality, though the inflation we see currently has not that much to do with the Fed. When monetary policy causes inflation, it's across the board...the current price increases seem to be energy related and are bleeding through to everything that is energy sensitive (like food costs, because foods has to be shipped in gasoline powered vehicles).

Also, if the Fed were causing inflation, it would be dollar-specific inflation. The current price spikes are international across multiple currencies.

The Fed needs to watch out that its quantitative easing does not lead to monetary devaluation (the sort of inflation the Fed might cause), and they are well aware of that (Charles Plosser of the Philly Fed said as much yesterday), but that princes adjust doesn't mean the Fed did it. We are an energy hungry society, so anything influencing global energy prices will affect us in a big way.

 

"Private banks elect members of the board of directors at their regional Federal Reserve Bank while the members of the Board of Governors are selected by the President of the United States and confirmed by the Senate. The private banks give input to the government officials about their economic situation and these government officials use this input in Federal Reserve policy decisions. In the end, private banking businesses are able to run a profitable business while the U.S. government, through the Federal Reserve System, oversees and regulates the activities of the private banks."


The Fed has over $11 billion in gold, which is a holdover from the days the government used to back U.S. Notes and Federal Reserve Notes with gold.[citation needed]. The value reported here is based on a statutory valuation of $42 2/9 per fine troy ounce. As of March 2009, the market value of that gold is around $247.8 billion.


The Fed holds more than $1.8 billion in coinage, not as a liability but as an asset. The Treasury Department is actually in charge of creating coins and U.S. Notes. The Fed then buys coinage from the Treasury by increasing the liability assigned to the Treasury's account.


The Fed holds at least $534 billion of the national debt. The "securities held outright" value used to directly represent the Fed's share of the national debt, but after the creation of new facilities in the winter of 2007–2008, this number has been reduced and the difference is shown with values from some of the new facilities.

The Fed has no assets from overnight repurchase agreements. Repurchase agreements are the primary asset of choice for the Fed in dealing in the open market. Repo assets are bought by creating depository institution liabilities and directed to the bank the primary dealer uses when they sell into the open market.

The more than $1 trillion in Federal Reserve Note liabilities represents nearly the total value of all dollar bills in existence; over $176 billion is held by the Fed (not in circulation); and the "net" figure of $863 billion represents the total face value of Federal Reserve Notes in circulation.

The $916 billion in deposit liabilities of depository institutions shows that dollar bills are not the only source of government money. Banks can swap deposit liabilities of the Fed for Federal Reserve Notes back and forth as needed to match demand from customers, and the Fed can have the Bureau of Engraving and Printing create the paper bills as needed to match demand from banks for paper money. The amount of money printed has no relation to the growth of the monetary base (M0).

http://en.wikipedia.org/wiki/Federal_Reserve_System