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To: AntiScumbag; Toddsterpatriot

Have fun playing with yourselves. You look ridiculous.

You just broadcast for everyone to see that you think the Federal Reserve is not owned by private bankers.

I guess in your ridiculous discussion that you pinged me on you think the Federal Reserve is not owned by anyone, it’s just a building with offices and people that wander in from time to time.

Don’t be surprised if I don’t engage your silly tripe. You both are not worth anyone else’s time except between yourselves. Have fun looking like idiots.


238 posted on 04/14/2007 8:49:31 AM PDT by Hostage (Fred Thompson will be President.)
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To: Hostage
You just broadcast for everyone to see that you think the Federal Reserve is not owned by private bankers.

What's a private banker? Is Henry Kissinger one?

Why don't you show us who owns the Fed?

239 posted on 04/14/2007 8:53:48 AM PDT by Toddsterpatriot (Why are protectionists (and goldbugs) so bad at math?)
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To: Hostage
Who owns the Federal Reserve?
The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.

As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."

The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

Federal Reserve System

Now you have no excuse to make your silly claims.

241 posted on 04/14/2007 9:05:04 AM PDT by Toddsterpatriot (Why are protectionists (and goldbugs) so bad at math?)
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To: Hostage
Have fun

Running away, yet again? What's the matter, can't you stand a few facts being introduced?

You really should stop being an unpaid shill for tripe. Call Russo and demand to be paid for promoting his hogwash.

242 posted on 04/14/2007 9:09:43 AM PDT by AntiScumbag
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