[Beingist]

We've had a few threads around here, lately, dealing with the Federal Reserve System, and there's a lot of contention in these threads (even the principles of money get people pretty hot), but I've lately taken it on as a hobby to try and figure out what this whole Fed thing is, myself. I'll tell you what I know (but it's really sketchy, as it is quite obscure).

Originally Posted by siryessir08

I'm completely freaked out right now.

First of all, no need to freak out. There's really not much you can do about the Fed, right now, except vote for those candidates who propose to END IT.

Yesterday I was watching the John Stewart show and heard that the Fed hid a bunch of bailout money... amounting to an astounding $7.7 trillion, loaning it out at 0.01% interest, to foreign and domestic banks. I was furious.

Yes, I read this, too, and the reason why it came to light, I believe, is because Congress recently enacted an audit of the Fed (interestingly enough, it had never been audited before).

I couldn't let it go...

Today I did more research, and found that the Federal Reserve actually loaned out $16 trillion dollars to foreign and domestic banks at 0% interest, according to the congressional audit done on the federal reserve.

Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts | Unelected.org

Citigroup alone got $2.5 trillion. $16 trillion is literally more than the entire national debt. Where did this $16 trillion come from??? I don't know... apparently it appeared out of thin air!!

FYI, the phrase, "out of thin air", whenever it is applied to the Fed is actually a rhetorical tactic, to get people to realize that the Fed prints money with nothing backing it (meaning that it's essentially valueless). There is no requirement to maintain asset reserves, so it's "created out of thin air." The USDollar is also known as a "fiat" currency ("fiat"=Latin for "let it be").

But here is an interesting coincidence... between 2007 and 2009... the exact same time all these loans were happening... Americans lost $16 trillion worth of wealth!!!

America's lost trillions in household wealth - Jun. 9, 2011

WOW!!!! We were robbed by the banks, and then the banks still took our houses!!!!!!!!!!!!!!!

Indeed, this is the fundamental problem with the Fed, imo.

So who owns the Fed?!?!?!

This is a tricky question to answer, because the Fed is a quasi-public, quasi-private entity. It is privately owned, and is basically guaranteed a 6% profit, but its Board of Governors is the government part, ostensibly (there's that word, again) for the purposes of keeping the private in check.

I've been trying to figure it out... It's hard to find any information on any of the high-ranking figures in the Fed. All I can find are short bios. I think they might all be related, however, because about 60% of all the high ranking members (Federal Reserve District Bank presidents and Federal Reserve Board governors) are Jewish.

I think the Jewish aspect of the Fed is coincidental, and that the mention of it is probably another rhetorical device used to sway opinion against the Fed.

Any more info would be greatly appreciated! Thank you!

Federal Reserve System - Wikipedia, the free encyclopedia

... is where I started. Ron Paul also wrote a book called, End The Fed. Been dying to read that one, and have been hoping someone will get it for me for Christmas. Let us know anything else you may discover.