If there is one recurring theme on this web site that I highlight when ever the chance
arises, it is to make sure that every warm bodied person that ever peruses the pages
of the Bear comes away with the knowledge that the Federal Reserve is the root of
all evil in the universe. I have found that no matter how many times or how many
ways it is stated, it is never too many. If we all did or level best to rid the world of
the Federal Reserve in particular and central banking in general, the world would
be a much better place for all of humanity. Today we are grateful for Mr. Snyder's
efforts to shine a light on the vampire which is the FED.
What would happen if the Federal Reserve was shut down permanently? That is a
question that CNBC asked recently, but unfortunately most Americans don't really
think about the Fed much. Most Americans are content with believing that the
Federal Reserve is just another stuffy government agency that sets our interest rates
and that is watching out for the best interests of the American people. But that is not
the case at all. The truth is that the Federal Reserve is a private banking cartel that
has been designed to systematically destroy the value of our currency, drain the
wealth of the American public and enslave the federal government to perpetually
expanding debt. During this election year, the economy is the number one issue that
voters are concerned about. But instead of endlessly blaming both political parties,
the truth is that most of the blame should be placed at the feet of the Federal
Reserve. The Federal Reserve has more power over the performance of the U.S.
economy than anyone else does. The Federal Reserve controls the money supply,
the Federal Reserve sets the interest rates and the Federal Reserve hands out
bailouts to the big banks that absolutely dwarf anything that Congress ever did.
If the American people are ever going to learn what is really going on with our
economy, then it is absolutely imperative that they get educated about the
The following are 10 things that Americans should know about the Federal Reserve....
#1 The Federal Reserve System Is A Privately Owned Banking Cartel
-The Federal Reserve is not a government agency.
-The truth is that it is a privately owned central bank. It is owned by the banks
that are members of the Federal Reserve system. We do not know how much
of the system each bank owns, because that has never been disclosed to the
-The Federal Reserve openly admits that it is privately owned. When it was
defending itself against a Bloomberg request for information under the Freedom
of Information Act, the Federal Reserve stated unequivocally in court that it was
"not an agency" of the federal government and therefore not subject to the
Freedom of Information Act.
-In fact, if you want to find out that the Federal Reserve system is owned by the
member banks, all you have to do is go to the Federal Reserve website....
-The twelve regional Federal Reserve Banks, which were established by Congress
as the operating arms of the nation's central banking system, are organized much
like private corporations--possibly leading to some confusion about "ownership."
For example, the Reserve Banks issue shares of stock to member banks. However,
owning Reserve Bank stock is quite different from owning stock in a private
company. The Reserve Banks are not operated for profit, and ownership of a certain
amount of stock is, by law, a condition of membership in the System. The stock may
not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent
-Foreign governments and foreign banks do own significant ownership interests in the
member banks that own the Federal Reserve system. So it would be accurate to say
that the Federal Reserve is partially foreign-owned.
-But until the exact ownership shares of the Federal Reserve are revealed, we will never
know to what extent the Fed is foreign-owned.
-#2 The Federal Reserve System Is A Perpetual Debt Machine.........
-The following is a list of loan recipients that was taken directly from page 131
of the audit report....
Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
"All Other Borrowers" - $2.639 trillion