Quote:
Originally Posted by deejne
YES< it is a bunch of private banks...
" Court Rules Federal Reserve is Privately Owned
Case Reveals Fed's Status as a Private Institution
Below are excerpts from a court case proving the Federal Reserve system's status. As you will see, the court ruled that the Federal Reserve Banks are "independent, privately owned and locally controlled corporations", and there is not sufficient "federal government control over 'detailed physical performance' and 'day to day operation'" of the Federal Reserve Bank for it to be considered a federal agency:
Lewis v. United States, 680 F.2d 1239 (1982)
John L. Lewis, Plaintiff/Appellant,
v.
United States of America, Defendant/Appellee. "
http://www.globalresearch.ca/index.p...xt=va&aid=8518 |
i'm glad to see that you are actually learning about the fed. i've read that summary before.
however, there is nothing in that document that states the fed is comprised of a bunch of private banks.
it is ONE privately owned corporation with limited regional controls.
Quote:
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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.
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not trying to pick you apart on this but if you are going to advocate supporting the end of the fed it is important that you understand what you are against.
also, the *solution* that *end the fed* is advocating - a return to the gold standard - is more than impractical. even if the u.s. owned every ounce of gold on this planet, mars and any other, it would still not cover all the dollars we need to operate.