Who controls the Federal Reserve?

Answer:

The Federal Reserve is chartered by the US Government. Nobody owns the the Federal Reserve. The Congress at any time can revoke the charter of the Fed. All the funding of the operations of the Federal Reserve comes from the US Treasury.

ANSWER:

On December 23, 1913, the Federal Reserve System, which serves as the nation's central bank, was created by an act of Congress. The System consists of a seven member Board of Governors with headquarters in Washington, D.C., and twelve Reserve Banks located in major cities throughout the United States.

From the Fed's Website:

The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.

As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."

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 per year.

Appointments to the Board

The seven members of the Board of Governors are appointed by the President and confirmed by the Senate to serve 14-year terms of office. Members may serve only one full term, but a member who has been appointed to complete an unexpired term may be reappointed to a full term. The President designates, and the Senate confirms, two members of the Board to be Chairman and Vice Chairman, for four-year terms.

Opposing Views:

Although the Federal Reserve Bank claims not to be private as their website claims, the clearly operate under terms that no other "government institution" operates by. For example, they are not required to submit financial information and are not subject to IRS audits, nor do they even publish the amount of money they print to the American public. So given these terms it's hard to believe the Federal Reserve's claims that they are a government institution providing a genuine service to the American people. A commonly held position not mentioned on their website is that The FED is a privately owned central bank. Central banks are supposed to implement a country's fiscal policies. They monitor commercial banks to ensure that they maintain sufficient assets, like cash, so as to remain solvent and stable. Central banks also do business, such as currency exchanges and gold transactions, with other central banks. In theory, a central bank should be good for a country, and they might be if it wasn't for the fact that they are not owned or controlled by the government of the country they are serving. Private central banks, including the United States FED, operate not in the interest of the public good but for profit.

There have been three central banks in the nation's history. The first two, while deceptive and fraudulent, pale in comparison to the scope and size of the fraud being perpetrated by the current FED. What they all have in common is an insidious practice known as "fractional banking."

Who really owns the FED? The Rothschilds of London and Berlin; Lazard Brothers of Paris; Israel Moses Seif of Italy; Kuhn, Loeb and Warburg of Germany; and the Lehman Brothers, Goldman, Sachs and the Rockefeller families of New York.

The FED is the only for-profit corporation in America that is exempt from both federal and state taxes? The FED takes in about one trillion dollars per year tax free! The banking families listed above get all that money. Forty cents in every dollar of US taxes.

Remittance of Funds to the Treasury

The Federal Reserve remits to the US Treasury every year all the profits it generates though its Open Market Operations.

Answer:

What is the Federal Reserve Bank (FED) and why do we have it?
excerpt from
www.john-f-kennedy.net/thefederalreserve.htm
by Greg Hobbs November 1, 1999

The FED is a privately owned central bank. Central banks are supposed to implement a country's fiscal policies. They monitor commercial banks to ensure that they maintain sufficient assets, like cash, so as to remain solvent and stable. Central banks also do business, such as currency exchanges and gold transactions, with other central banks. In theory, a central bank should be good for a country, and they might be if it wasn't for the fact that they are not owned or controlled by the government of the country they are serving. Private central banks, including the United States FED, operate not in the interest of the public good but for profit.

There have been three central banks in the nation's history. The first two, while deceptive and fraudulent, pale in comparison to the scope and size of the fraud being perpetrated by the current FED. What they all have in common is an insidious practice known as "fractional banking."
Who owns the FED? The Rothschilds of London and Berlin; Lazard Brothers of Paris; Israel Moses Seif of Italy; Kuhn, Loeb and Warburg of Germany; and the Lehman Brothers, Goldman, Sachs and the Rockefeller families of New York.

The FED is the only for-profit corporation in America that is exempt from both federal and state taxes? The FED takes in about one trillion dollars per year tax free! The banking families listed above get all that money. Forty cents in every dollar of US taxes.

Answer

The Federal Reserve is a private organization controlled by its Board of Governors who answer to its shareholders, international corporate banking systems that are rooted in Europe and control a majority of the worlds wealth. They operate through a fractional reserve system. This system allows these central banks to lend money at interest to the governments of the world, creating debt that can never be repaid.

Many people in the U.S. believe that the operation of the Federal Reserve goes against the Constitution of the United States because it operates independently of the government and there are no regular audits, oversight capacity, or control exercised by any elected officials.

Under the Constitution all power and rights are ultimately vested in the people, citizens of the United States. The banks that make up the Federal Reserve are controlled by corporations and families who have controlled international banking since before the Constitution was created.

ANSWER:

A charter from the Federal Government gives it the power to do do what it does, it is irrelevant to ownership. Fannie Mae and Freddie Mac are also chartered by the U.S. Government.

The Supreme Court has ruled that the Federal Reserve is independent of the government and privately owned.

The Federal Reserve is owned by its member banks. The next question is, who owns the member banks? That is a complicated question because of the holding companies, etc.

It is historic fact that the plan for the Federal Reserve was created by banking interests in great secrecy at Jekyl Island in 1910. J.P. Morgan and Paul Warburg were the primary architects. Political impetus for this action came from the Money Panic 1907.

It is also historic fact that Thomas Jefferson opposed Alexander Hamilton who wanted do create a national bank backed by the Rothschild banking family.

The link to the book "Secrets of the Federal Reserve" is available below. It has been transposed to HTML and cross linked by the Modern History Project. These links make it easier to see the links between the member banks that own the Federal Reserve and private banking interests.

Those member banks of the Federal Reserve are now using the funds from the bailout to buy out privately owned banks. This is in violation of the act (or law) that congress passed to allocate those funds. It is also a conflict of interest that Treasury Secretary Paulson comes from the same financial cabal that runs those member banks and the Federal Reserve.

This IS NOT CONSPIRACY THEORY. It is the subject of current congressional hearings.

See the links below re: Kucinich

Since the operations of the Federal Reserve are secret, have no active congressional oversight, and are not audited by the GAO or the IRS, there is no way to protect the economic interests of the American People.

The power to issue money is explicitly reserved to the U.S. Government by the Constitution of the United States. By abdicating this responsibility, Congress acted illegally in the creation of the Federal Reserve.

This is an important issue that every voting citizen should be aware of.

This answer is closed to changes. This is done in rare cases when questions are being vandalized or answers have become debates. E-mail reopen @ answers.com (no spaces) if you would like it to be reopened.