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CM,
I recommend getting Secrets of the Federal
Reserve by Eustice Mullens which will explain how the Fed was formed and how it
is structured. There is alot of smoke and mirrors involved in order to
disguise what the Fed really is and what they do. Approx. 55% of the
Fed stock is owned by private banks while other portion is owned by the
govt. The NY Fed is the real Fed and the other Fed banks are branches of
NY. The Shadow Committee is the real Fed board. The supposed Fed
Board does what the Shadow wants which is controlled by the big private
banks.
Now here is some fun history, covered in the
above referenced book. Paul Warburg was sent by his famous banking family from
Germany to the US to set up a central bank so they could get control of the US
monetary system. Paul was successful and became the first Chairman of the
Fed during WW I when the US and its allies were at war with Germany and his
brother was head of the German Central Bank. Paul was latter satirized in
a comic strip "Little Orphant Annie" where he is called Daddy Warbucks.
Speaking of the history of names, the comic strip Little Orphant Annie was
lifted by an Indianapolis newspaper reporter from famed Hoosier Poet James
Whitcomb Riley who wrote a poem in Hoosier dialect called "Lil Orphant
Annie". And as Paul Harvey would say, "and that's the rest of the
story".
<FONT face=Arial
size=2>
Good Day,
Norman
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Charles Meyer
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>REAL TRADERS
Sent: Wednesday, October 02, 2002 4:13
PM
Subject: [RT] GEN: DUMB FED
QUESTION
Group-
Just how much money does the Fed have? The
amount of money in private hands such as savings accounts, investments,
bank accounts, etc. can be quantified.
Now; I believe that the Fed is comprised of
privately owned banks who can use their various
moneary tools to either create or tighten the
so-called money supply. But; how much money do
they really have at their disposal? Because
of their ability to create money out of thin air using
the fractional reserve system; can one say that
they have a virtually unlimited supply of money?
How does their supply or available money; measure
up against the amount of money held in
private hands? It seems that if the amount
of money held privately dwarfs the amount of money
held by the Fed; their actions would have less
effect on their regulation of the economy. Or; do these
12 private banks have SO, SO MUCH money the dog
can wag the economic tail?
I stay confused on subjects like this. I
suppose the reason I'm asking is that I just read that the
Government can seal our money in three
ways: taxation, nationalization and inflation.
Somehow;
this ends up in the hands of the bankers;
although I really don't quite understand the process.
Thanks for any thoughts or comments.
chas To
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