YaHooka Forums - View Single Post - Ever wonder what the Federal Reserve was ?

Zerø · 07-31-2009, 06:29 PM

The Federal Reserve is a non-profit corporation owned by member banks, who receive a small percentage of it's profits (interest paid to the Fed) as a dividend. The rest goes into the Treasury. When the Fed was created, back in 1913, some of the people mentioned above were supporters, either on the Morgan side or the Rockefeller side, however, they don't own it, and don't need to. The Fed, as a central bank, makes fractional reserve banking possible, without fear that other banks will threaten their solvency by demanding redemption of transfered funds in specie (or, currently, paper currency). As both the Morgan and Rockefeller camps had alot to gain in this cartelization of the US Banking industry (because they owned alot of banks between them), they got behind it.

Now, with Wall Street cast as the pariah, and a FAR more powerful central government, it's possible they might pull the fascist move, and raise reserve rates to guard against the inflation that their recent run up of reserves could cause. It would take power from the banks, and give it to the government. That's the key event, when banks become the bitch of the government, and not the other way around, fascism has begun, and capitalism has ended.

Let's see what happens.

Ø

07-31-2009, 06:29 PM	#3 (permalink)
Zerø Empty Set Join Date: Oct 2007 Location: Here Posts: 7 Thanks: 0 Thanked 2 Times in 2 Posts	The Federal Reserve is a non-profit corporation owned by member banks, who receive a small percentage of it's profits (interest paid to the Fed) as a dividend. The rest goes into the Treasury. When the Fed was created, back in 1913, some of the people mentioned above were supporters, either on the Morgan side or the Rockefeller side, however, they don't own it, and don't need to. The Fed, as a central bank, makes fractional reserve banking possible, without fear that other banks will threaten their solvency by demanding redemption of transfered funds in specie (or, currently, paper currency). As both the Morgan and Rockefeller camps had alot to gain in this cartelization of the US Banking industry (because they owned alot of banks between them), they got behind it. Now, with Wall Street cast as the pariah, and a FAR more powerful central government, it's possible they might pull the fascist move, and raise reserve rates to guard against the inflation that their recent run up of reserves could cause. It would take power from the banks, and give it to the government. That's the key event, when banks become the bitch of the government, and not the other way around, fascism has begun, and capitalism has ended. Let's see what happens. Ø __________________ INFINITY MINUS INFINITY