Does anyone know that the Federal Reserve Bank is not part of the government?

by economy on 24/09/09 at 4:48 am

The Federal Reserve Bank is owned by a few large banks. It prints money for the United States Government. The money it prints is a loan to the citizens of the United States. That is why you pay taxes through your paycheck. Do you know that payroll taxes are illegal?
http://www.freedomtofascism.com
Watch this. Do your own research? Try to think. Instead of acting like a bunch of sheep.
The printing of money is authorized by the Federal Reserve Bank

The Federal Reserve Bank is authorized by the Federal Reserve Bank is owned by a few large banks. Try to the Federal Reserve Bank is why you pay taxes are illegal?
http://www.freedomtofascism.com

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One Comment

gray shadow

Sep 24th, 2009

I found the film "Freedom to Fascism" to be intellectually dishonest and a vehicle for the filmmaker to further his political beliefs with out-of-context quotes and blatant misformation.

Your advice is good to "Do your own research" and not rely on agenda-driven documentaries. For instance…

- Research how the Federal Reserve system is organized and controlled. (see http://www.federalreserveeducation.org/fed101/structure/ )

At the top is the Board of Governors who are all appointed by the president and confirmed by congress. It is illegal for any of these governors to work for any bank or even own stock in a bank ( http://www.law.cornell.edu/uscode/search/display.html?terms=governors&url=/uscode/html/uscode12/usc_sec_12_00000620—-000-.html , http://www.law.cornell.edu/uscode/html/uscode12/usc_sec_12_00000242—-000-.html ) Note that there is no structure for private ownership at this level.

Below the Board of Governors are the branches which are indeed organized like corporations and whose members must buy shares. Member banks get a standard 6% dividend on their shares. The rest of the profits (about 98%) is given to the Treasury. The branches are overseen and regulated by the Board of Governors.

- Research how money enters circulation – The Fed buys T-notes on the open market. Since the T-Note is on the open market, this is not a new loan. When the Fed owns the T-Note, 98% of the interest is returned to the Treasury.

- Research why people like the filmmaker believe payroll taxes are illegal.

http://en.wikipedia.org/wiki/Tax_protester_arguments
http://en.wikipedia.org/wiki/Tax_protester_constitutional_arguments
http://en.wikipedia.org/wiki/Tax_protester_statutory_arguments
http://en.wikipedia.org/wiki/Tax_protester_conspiracy_arguments

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