Re: income tax and the federal reserve

On 13 Mar, 05:57, "Andy F." <never.m...@xxxxxxxxx> wrote:
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On 12 Mar, 07:48, "Andy F." <never.m...@xxxxxxxxx> wrote:
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On 11 Mar, 06:40, "Andy F." <never.m...@xxxxxxxxx> wrote:
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On 9 Mar, 07:16, "Andy F." <never.m...@xxxxxxxxx> wrote:
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do you agree that the shareholders of the federal reserve banks own
the federal reserve banks? (yes or no will do.)

No.A privately owned business doesn't have its chairman appointed
by
the
government, or hand over its profits to the Treasury.

are you trying to say that bernanke owns the federal reserve?

No. I'm saying the US government effectively owns it.

maybe you don't understand what a share is. here is one definition -

"A share (also referred to as equity shares) of stock represents a
share of ownership in a corporation."

http://en.wikipedia.org/wiki/Stock

when you understand this you may like to try again. do the
shareholders of the federal reserve own the federal reserve?

An equity share is one which gives ownership rights - i.e. a right to a
share of the profits and to hire and fire the board of directors.Fed
stock
isn't equity stock. It doesn't give ownership rights.
A Fed 'shareholder' has limited rights over one of the 12 regional
Federal
Reserve banks.
The body which controls monetary policy is the Board of Governors, which
is
appointed by the President and the Senate.
Fed shareholders don't have any kind of ownership rights over the Board
of
Governors.

the directors of each of the 12 regional fed banks is appointed by the
owner of that bank (the shareholders). but hey, you don't want to
discuss that. you want to discuss only and exclusivly the seven
employees of the fed (paid by the fed not congress) that are appointed
by .gov once every 14 years. the ones that act independently and do
whatever they want once appointed.

ok then, lets ignore the privatly owned fed banks that comprise the
majority of the fed system and the privatly owned member banks and
focus on the massive influence the gov has on monetary policy -
appointing someone to do what they want for 14 years, paid by the fed
during that time. wow.

Nope. The regional banks have a board of directors which is partly elected
by member banks and partly appointed by the Board of Governors.The Chairman
and Deputy Chairman of each bank is appointed by the Governors.

And they can't just 'do what they want.' The Fed is required by law "to
promote effectively the goals of maximum employment, stable prices, and
moderate long-term interest rates."

that's what the act says. but then why is inflation so high if the fed
is required to keep prices stable? why cut interest rates by over a
fifth in an unscheduled meeting if you want to 'moderate long-term
interest rates'? why is unemployment so high?


And one thing they can't do is pay a dividend to shareholders - which of
course is the main purpose of any real privately owned business.

except the shareholders do get a divi.

ok, i give up. believe whatever you want. congress controls monetary
policy, the fed is a wonderful organisation operated for the benefit
of the public, the federal reserve act was not written by a bunch of
bankers on jeckyl island for the benifit of bankers, etc. whatever.

.

Relevant Pages

  • Re: income tax and the federal reserve
    ... do you agree that the shareholders of the federal reserve banks ... appointing someone to do what they want for 14 years, ...
    (sci.econ)
  • Re: income tax and the federal reserve
    ... shareholders of the federal reserve own the federal reserve? ... Reserve banks. ... appointing someone to do what they want for 14 years, ...
    (sci.econ)
  • Re: income tax and the federal reserve
    ... shareholders of the federal reserve own the federal reserve? ... Reserve banks. ... appointing someone to do what they want for 14 years, ...
    (sci.econ)
  • Re: income tax and the federal reserve
    ... do you agree that the shareholders of the federal reserve banks own ... appointing someone to do what they want for 14 years, ...
    (sci.econ)
  • Re: income tax and the federal reserve
    ... government, or hand over its profits to the Treasury. ... shareholders of the federal reserve own the federal reserve? ... Reserve banks. ... appointing someone to do what they want for 14 years, ...
    (sci.econ)
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