A friend told me that the Federal Reserve is not part of the government, that it is a private central bank owned by several old banking families.
He recommended me to read this book
Who do you think controls the Fed?
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268 sats \ 0 replies \ @siggy47 12 Mar
Invest some time reading this book. You'll learn about money and the fed:
https://www.goodreads.com/book/show/66499.The_Creature_from_Jekyll_Island
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215 sats \ 1 reply \ @TNStacker 12 Mar
Government was going broke back in the day and JP Morgan bailed it out. To set up a backstop for the future they set up the Fed, owned by a group of banks, but administered by Government appointed bureaucrats.
The nominees come from the banks, so yes, a circle jerk.
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21 sats \ 0 replies \ @Bell_curve 12 Mar
1907 panic
1913 federal reserve act
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117 sats \ 0 replies \ @Undisciplined 12 Mar
It's certainly part of the state, but you have to understand what the state is beyond looking at an org chart.
The state is the institution that coercively rules a territory. The Federal Reserve governors are political appointees and it was created by an act of congress specifically to implement the state's monetary policy.
It is telling that it's nominally private and that does give a sense of who's in control of the system.
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114 sats \ 3 replies \ @tomlaies 12 Mar freebie
https://i.imgflip.com/p3dk8.jpg
No Patrick, the Federal Reserve is not owned by old banking families.
The FED is made up of 12 regional reserve banks. Each of these regional reserve banks is overseen by a board of directors, which includes both politicians and appointed members from private sector banks within the respective districts. And the private sector banks within the respective districts have deposits with their respective regional reserve banks. But they don't "own" them.
Blame politicians for currency debasement of the fed. Not "old banking families".
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66 sats \ 2 replies \ @02bcd3eeb0 12 Mar
Big private banks most certainly are the shareholders/owners of the Federal Reserve Banks, and even receive a 6% annual dividend.
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21 sats \ 1 reply \ @tomlaies 12 Mar
The fiat system is cooked from the ground up. If anything, it would be even worse if private sector had no seats and politicians had all the say. That would be full on planned economy communism. That would be way worse. And we kinda have this already... because politicians have the final say...
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1 sat \ 0 replies \ @02bcd3eeb0 12 Mar
Politicians are actors, that do what their masters want. Their masters are bankers.
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94 sats \ 0 replies \ @freetx 12 Mar
The organization of the Fed is roughly as follows:
- Is split into 12 regional banks
- Each regional bank manages the commercial banks in their region
- Each of these 12 regional banks owns a pro-rata share in "the fed" as a whole, based upon the total reserves of the commercial banks in their region
- Congress appoints the chairman of the fed and sets other policy
So from this we can gather:
- The commercial banks, indirectly own the fed (via their capitalization)
- Of the regions, numerically NY is really the only one that matters (super majority of ownership is in NY region)
- The fed functions as sort of a "banking interest group" a liaison between the commercial banks and govt.
- Although Congress appoints the chairman, and can set certain policies, it has no direct control over its day-to-day operations (interest rates, etc) - those come via consensus of the 12 regional banks + board
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10 sats \ 0 replies \ @watchmancbiz 31 Mar
basically, Rothschilds! the simple answer! but it goes deeper! many rulers of the world, a satanic cabal, have a stake in it. "control the money supply control the people". The Fed is not Federal, and is a huge SCAM! Interesting conspiracy theory surround The Titanic sinking that you may wish to check out, if you've never heard!
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1 sat \ 0 replies \ @LowK3y19 21 Sep
Rothschild control the central bank and the fed they act alone from the government. They basically print out money and charge the people interest for making it
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0 sats \ 0 replies \ @Malachi17 12 Mar
It is a little like a non-constitutionally authorized corporation.
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0 sats \ 1 reply \ @fm 12 Mar
So, you as person get the worst of both worlds..
When the board fucks up, you get fucked,
When the private corp makes money, you get fucked..
Wait until you find out about IRS
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106 sats \ 0 replies \ @btcs OP 13 Mar
The_Creature_from_Jekyll_Island
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