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A private national bank that churns currency cents to the bill. Not backed by a physical commodity but by your faith you have to the issuing bank.
Man 1: I got a 1000 dollars, and its all mine!
Friend: No it's not, you EARNED that money but you don't own it.
Man 1: Yea, how?
Friend: The price printed from the Federal Reserve on each bill Is the amount you believe its earned.
Man 1: So it's not backed by anything, and it's just printed out?
Friend: Yup
Man 1: so, I can print it too
Friend: Yes.. NOOO!
*Plays Roundabout by Yes*
...To Be Continued
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Supposedly a bank started in 1913 by the USA govt for the people - this is a myth.
The Federal Reserve Bank is a privately owned and controlled organisation that now has to continuously print more and more money in order to devalue the dollar in order to cover the cost of printing and distributing that dollar in the first place.
These "BANKSTERS" then loan the money they make back to the American people + interest in order for Bush to finance WAR ON TERROR.
It is estimated that around 30% of the average americans wages is taken out of their pay check every year to pay the IRS for taxes that go to pay "interest" on the national defecit owed to the Federal Reserve Bank, none of this money goes towards schools, hospitals, or infrastructure.
There is no law that actually enforces you to pay this tax, everyone just pays it because they think they have to.
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The private banks of the Federal Reserve.
The Federal Reserve banks are no more federal than Federal Express.
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The central bank of the United States of America that was founded by Congress in 1913. It is responsible for supervising all bank and credit organizations in the U.S. (both private and public), enforcing credit law, forming U.S. monetary policy, providing financial services to the U.S. government and foreign banking systems, and most importantly, avoiding inflation and depression by controlling U.S. interest rates.
Alan Greenspan has been the chairman of the Federal Reserve for a long time, changing interest rates on many occasions.
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(US GOVERNMENT) one of two governing boards of the US Federal Reserve System (the Usonian Central Bank). The FRB consists of seven governors appointed by the White House to staggered terms of 14 years.
Governor appointments are subject to Senate confirmation.
The FRB sets monetary policy. Its seven members also serve on the other governing board of the Fed, the FOMC. However, the FRB has sole responsibility for discount rates and reserve requirements, and it is also responsible for enforcement of banking regulation.
Despite the fact that the Chairman of the Federal Reserve Board has the same power as the other six governors, most people have only heard of Alan Greenspan (1987-2006) or Ben Bernanke (2006-present). About the same time, Susan M. Phillips (1991-1998) held approximately equal power on the Board; so did Roger W. Ferguson, Jr. (1997-2006).
Because governors almost never serve their full terms, there are currently only five governors on the board. The two longest-serving members, Bernanke and Vice Chair Donald Kohn, have only been there since August 2002.
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The currency issued by the Federal Reserve that is marked by being both fiat money and debt money. All American money issued by the federal government is Federal Reserve currency.
Federal Reserve currency is identified with "$USD".
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(ECONOMICS) the central bank of the United States; often called "the Fed" for short. Sole bank of issue for the US dollar since 1971*; issuer of nearly all US currency since 1914.
Created in December 1913 through the Federal Reserve Act; while signed into law by Pres. Wilson, the basic outline of the FRB was developed by the Aldrich-Vreeland Committee (see Aldrich-Vreeland Act) during the Taft Administration (1909-1913).
In addition to issuing currency, the Fed is responsible for some (but not all) oversight of banks; management of the nation's money supply (using purchases and sales of US Treasury securities; see monetary policy); and management of a national check clearing system.
The Fed includes two central managing committees, the Federal Reserve Board and the Federal Open Market Committee (FOMC). It also has 12 district banks; each is known as a Federal Reserve Bank.
The Federal Reserve System is a member of the International Monetary Fund (IMF) and the Bank of International Settlements (BIS).
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*Until 1971, the US Treasury issued a small share of bank notes, or "national notes." They were almost identical in appearance to Federal Reserve notes.
Between 1863 and 1935, federally chartered banks national banks were allowed to issue currency equal to 90% of US treasury securities deposited with the US Treasury. After 1914, when the Fed commenced operations, it nearly stopped entirely.
The Federal Reserve System has twelve district banks, whose management is chose by bank holding companies. The president of each district bank is himself likely to have been an officer of a bank holding company. Hence, regulatory capture was built into the system from the beginning.
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