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Who exactly is the Federal Reserve?

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Posted: Monday, April 13, 2009 10:00 pm

I believe many Americans think the Federal Reserve is a part of our government, mostly because of their name.

I wonder if you could write an article explaining who they really are. I think many will be shocked to hear how and when it was formed, as well as who the original members were. I think most readers will be surprised who controls the Federal Reserve and how much money our government owes them.

Dennis Regan

Lodi

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Welcome to the discussion.

6 comments:

  • posted at 7:00 pm on Tue, Apr 14, 2009.

    Posts:

    Dennis: Why don't YOU write this? You imply that you are in-the-know. Credibility issues? Please, educate us!

     
  • posted at 5:44 am on Tue, Apr 14, 2009.

    Posts:

    Who Owns the Federal Reserve?http://www.save-a-patriot.org/files/view/whofed.html

     
  • posted at 4:19 am on Tue, Apr 14, 2009.

    Posts:

    BO will do nothing to change the current system. In the end the USD will be worthless and the country will dissolve into a totalitarian dictatorship. What is left up in the air right now is who will be in charge....

     
  • posted at 3:35 am on Tue, Apr 14, 2009.

    Posts:

    Back when this nation was formed Alexander Hamilton wanted a central/national bank; however "states rights" advocates teamed-up to say no. What resulted was a mish-mash of private banks that issued a multitude of currencies presumably backed by gold. However, when Rockerfeller helped to transform our economy from agrarian to industrial everything changed -- and so began the age of the "federal reserve": A system through which it's many member banks could share in the building of an industrial America. In other words a system of "money creation" was deemed necessary in order fascilitate the rapid economic growth that resulted from our new found glut of energy -- oil, black gold. Everthing was fine for a while, but invariably "money creation" leads to reckless consumption and growing deficits. Now instead of being an energy producer we are an energy consumer. Barak Obama wants to change that dynamic, but unfortunately for us he seeks to accomplish as much without using the vast energy reserves that we already have at our immediate disposal. Reality, however, always has the last word, and Obama will begin to hear it soon -- one can only hope!

     
  • posted at 2:24 am on Tue, Apr 14, 2009.

    Posts:

    Totally agree with you, t jefferson. Great letter, Dennis! Why should us Americans be up to our noses paying the interest on the money via our taxes (the IRS being the collection arm) borrowed from the Federal Reserve by our government when our Constitution provides a means for our government to print its own money?

     
  • posted at 1:09 am on Tue, Apr 14, 2009.

    Posts:

    "The creature from Jekyll Island" should be required reading in High School. But hey don't let the cattle know who their true masters are or they might get nervous.

     

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