Brainard was a top Treasury official under the Obama administration. A top Treasury official during the George W. Bush administration, Quarles founded the investment firm Cynosure Group with members of the Eccles family. . On February 17, 1950, CFR member James Warburg (banker, and architect of the Federal Reserve System) stated before a Senate Foreign Relations Committee, "We shall have one world government whether or not you like it, by conquest or consent." The Social Security Trust Fund owns a significant portion of U.S. national debt, but how does that work and what does it mean? To control the media, FED bankers call in their loans if the media disagrees with them (Reference 25, P. 134-137). It's also in Treasury Inflation-Protected Securities and special state and local government series securities. Chart 1 presents the Federal Reserve's monthly gross purchases of agency MBS over the past decade and the MBS current coupon spread, or the yield consistent with a par value security, less the average of the five-year . Intragovernmental holdings totaled more than $6.89 trillion in January 2023. When Congresspeople retire, political campaign funds are not taxed. When elected, Wilson passed the FED. Dear American: Pursuant to your request, I will attempt to clear up questions you have about the Federal Reserve Bank (FED). (Reference 1, P. 46, 47; Reference 4) Shortly after Lincoln's death, the government revoked the Greenback law which ended Lincoln's debt-free, interest-free money. In 2012, the Energy Information Administration using data compiled by the United States Geolgical Survey under the Department of the Interior estimated US undiscovered . They can be pressured publicly by members of Congress or by presidents, as when President Donald Trump complained about Powell increasing interest rates in December 2018. Presidents Lincoln, Jackson, and Kennedy tried to stop this family of bankers by printing U.S. dollars without charging the taxpayers interest (Reference 4). Banks usually follow the Fed's lead, cutting benchmark rates such as the prime rate. Coordinate workflow and material movement to meet program and customer delivery requirements. A critic once wrote me, "But the President chooses the Board of the Fed.". "Our people's money to the extent of $1,200,000,000 has within the last few months been shipped abroad to redeem Federal Reserve Notes and to pay other gambling debts of the traitorous Federal Reserve Board and the Federal Reserve banks. The bank could not foreclose on the property because it created the loan money from thin air, as many banks do. Its decisions affect the U.S. economy and, therefore, the world. Who Owns The Federal Reserve Banks. (Quoted in Reference 4) Thomas Jefferson stated, "If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered." The FED announced publicly that their first objective was to get nationalism out of the American people's heads because patriotism to a country would not be of value in the future. our office. . Public debt is held by the public: individual investors, institutions, foreign governments. Second, the Fed submits to Congress a detailed Monetary Policy Report twice per year. The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States.It is responsible for the Second District of the Federal Reserve System, which encompasses the State of New York, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico, and the U.S. Virgin Islands.Located at 33 Liberty Street in Lower Manhattan, it is by far the . . A program of the Bureau of the . Paula Moura. Web Site Copyright 1995-2023 WGBH Educational Foundation. The Fed's total share of US debt has spiked from 9.3% in Q1 to 16.5%. Trump Now Owns the Fed. "Monetary Policy and the Federal Reserve: Current Policy and Conditions. The Fed's monetary policy can do its job better when it is shielded from short-term political influence. When economic growth is slow, the Fed adjusts its policy accordingly and lowers the target interest rate, which in turn spurs Americans to borrow credit at a cheaper rate. Federal Reserve System. "Person of the Year 2009.". Waller served as executive vice president and director of research at the Federal Reserve Bank of St. Louis from 2009 to 2020. Again, the media is pushing to eliminate guns. $12.00 (6) "Insider Report", P.O. About the Federal Reserve banks, Rep. McFadden said, "They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; the rich and predatory money lenders. After the genocide in Rwanda and atrocities in Srebrenica, Bosnia, in the 1990s, the world vowed never again. Then came the conflict in Darfur, Sudan, which began 20 years ago. Additionally, the FED started buying up the media in the 1930's and now owns or significantly influences most of it Reference 3, 10, 11, P. 145). It is not a company or a government agency. Why should the Federal Reserve Board and the Federal Reserve banks be permitted to finance our competitors in all parts of the world?" Read our, How the Federal Reserve Controls Inflation, Fed Tapering and Its Impact on the Markets, FOMC: What It Is, Who Is on It, and What It Does. The FED's books are not open to the public. (it owns 1/3 of . If you could accurately predict future interest rates, inflation and deflation, you would know when to buy or sell stocks and make a bundle of money. Section 7 of the Federal Reserve Act, passed December 23, 1913, states that much of the profit of the FED should flow into the U.S. Treasury. This new currency was to be distributed through the U.S. Treasury and not the Federal Reserve System. Subscribe to our newsletter and keep informed. Most of the given sources in this booklet show how the blood line of family bankers who own the FED funded both sides of all major wars. They financed both sides from money created from nothing and profited greatly. Why should we promise to pay the debts of foreigners to foreigners? The Fed communicates through frequent and detailed reports. These bankers planned three world wars so people would welcome United Nations intervention to govern the world in peace, not war. None of those five positions has yet been confirmed. Holding this stock does not carry with it the control and financial interest given to holders of common stock in for-profit organizations. The FED is illegal, per Article 1, Section 8 of the United States Constitution. It stabilizes the government bond market through inflationary methods and manipulates this market to the advantage of the government. (Reference 4) If you will take the time to read the reference material listed which has been researched by Professors of Universities, Congresspeople, etc, you will turn up information that might frighten you. Some people leave to make money. This violates the law, yet Congress does not act because these bankers are large political contributors (Reference 17, P. 96-98; Reference 1, P. 162-163; Reference 22, P. 114-170 & P. 136). From March 2020 through June 2021, the Federal Reserve increased its agency MBS holdings from $1.4 trillion to $2.3 trillion. Again, the media remained silent. It had the same effect as printing money. . These pay out dividends, mandated by law to be 6%. Every year Congress introduces legislation to audit the FED, and every year it is defeated. "Financial Accounting Manual for Federal Reserve Banks: Appendix B. Previously, he a chair of economics at the University of Notre Dame. Many publications show that these bankers financed World War I, World War II, and the Russian Revolutionary War, which helped Napoleon, Lenin, and Hitler come to power. Since therecession, it also pledged to reduce unemployment and spur economic growth. What the Government has permitted the Federal Reserve Board to steal from the people should now be restored to the people." Foreign Banks, Charge-Off and Delinquency Rates on Loans and Leases at In a letter to Thomas Jefferson, John Adams wrote: "All the perplexities, confusions, and distresses in America arise, not from defects in the Constitution or confederation, not from want of honor or virtue, as much as from downright ignorance of the nature of coin, credit, and circulation". A must read book - $2.50 (20) "The Law That Never Was" Volume I, Bill Benson & M.J. Red Beckman, P.O. ", Time Magazine. Anyway, 3,949,000 Silver Eagles were sold in January, but only 900,000 in February. Box 1544, Billings, MT 59103. I get this one a lot so it's worth some detailed explanation. Intragovernmental is debt held by the Federal Reserve and Social Security and other government agencies. Verbatim transcripts are available five years later. "The Federal Reserve System is in the wrong hands. What Is the Public Debt, and When Is It Too High? The sheer magnitude of $30-plus trillion of . Lael Brainard, governor, age 59 All members of the board, or governors, also have a permanent seat on the FOMC, the body that sets U.S. monetary policy: raising or lowering interest rates, and deciding when to buy bonds from commercial banks, companies or other financial institutions. Of the 109 governors appointed since the first board was officially sworn in, in August 1914, three have been African American and ten have been women. One of the most famous cases is Peter Diamond, a Nobel Prize winner, professor at MIT and Obama appointee. Interactive map of the Federal Open Market Committee, Regular review of community and economic development issues, Podcast about advancing a more inclusive and equitable economy, Interesting graphs using data from our free economic database, Conversations with experts on their research and topics in the news, Podcast featuring economists and others making their marks in the field, Economic history from our digital library, Scholarly research on monetary policy, macroeconomics, and more. For example, the Dodd-Frank Wall Street Reform and Consumer Protection Act limited the Fed's powers. This means you lose your rights under the Constitution and Bill of Rights. Its hard to know when or if a potential governor turns down a nomination, but some appointees have been rejected by the Senate. Additionally, major corporations owned by FED shareholders are the source of huge advertising revenues which surely would influence the media (Reference 14, P. 56-59). Those who come from academia often take leave from their teaching or research jobs to join the board for a few years. The second method is: The Citizens allow the bank to print $500 billion in currency (cash). It stated we are one world and America shall become a nation-state under one government. On page 131 he states that we must abolish the FED. Ben Franklin said in his autobiography that the inability of the colonists to get the power to issue their own money permanently out of the hands of George III and the international bankers was [one of] the PRIME reason[s] for the Revolutionary War. It slows economic growth by making loans and other forms of credit more expensive. Congress created the Fed in 1913 with the Federal Reserve Act and could potentially disband it, but doing so would take a lot of effort. If all governors finished out their terms, the current board would contain members nominated by President George W. Bush. It's always defeated, the media remains silent, and the public never learns the truth. By abolishing the FED, we would not pay interest on Federal Reserve Notes. He fought continuously for fiscal integrity and a return to constitutional government (Reference 1). The Fed announced on September 16 that it . 10. Michelle Bowman, governor, age 50 Federal Reserve System. This helps to keep their exports to the U.S. affordable, which helps their economies grow. Federal Reserve Chairman Ben Bernanke was named "Person of the Year" by Time Magazine in 2009. In 1992, taxpayers paid the FED banking system $286 billion in interest on debt the FED purchased by printing money virtually cost free (Reference 12, P. 265). "Who Owns Reserve Banks? . The Fed began adding U.S. Treasurys in 2009. Cases is Peter Diamond, a Nobel Prize winner, professor at MIT and Obama appointee must abolish FED! Public never learns the truth of credit more expensive and manipulates this market to the people now... 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