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The Federal Reserve Is a Privately Owned Company

Business  (tags: money, Fed, federal reserve, federalreserve, americans, ethics, government )

- 4349 days ago -
Rothschild, a London Banker, wrote a letter saying "It (Central Bank ) gives the National Bank almost complete control of national finance. The few who understand the system will either be so interested in its profits, or so dependent on its favours, that


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Blue Bunting (855)
Monday August 20, 2007, 9:37 am
"Let me issue and control a nation's money and I care not who writes the laws." Mayer Amschel Rothschild

Joy D. Griffith (34)
Monday August 20, 2007, 1:52 pm
Yes, and you will learn even more when you watch the ZEITGEIST. Please educate yourself and watch:

Margaret Trainor (61)
Monday August 20, 2007, 2:34 pm
This is not new news but i am glad it is on here ....Pay attention to this ...

Carol W (119)
Monday August 20, 2007, 3:51 pm

This is very good. The Federal Reserve must be dissolved as pointed out in the article.

Russo was also saying that is where we start.

. Destined to be one of this years great movies, he takes things way further than Michael Moore and proves that the there is nothing in the tax code that says you have to pay tax on your labor.

Now it's time for you to decide for yourself. Do we stand up for our constitutional rights or do we bury our heads in fear from political and social pressure."


RC deWinter (418)
Monday August 20, 2007, 4:00 pm
yep...every time we take money from it we owe that PLUS INTEREST

. (0)
Monday August 20, 2007, 6:52 pm
Donít forget the penalty.

Edwin Purcell (178)
Monday August 20, 2007, 6:59 pm
This is one of the best articles I have seen on this important topic. Thanks John. You are a true patriot.

Blue Bunting (855)
Monday August 20, 2007, 8:48 pm
Brent Budowsky: Grapes of Wrath Return

From The Hillís Pundits Blog:

Grapes of Wrath Return

Brent Budowsky

Here is the problem with the Federal Reserve bailout of banks, rather than providing support to homeowners, citizens or the economy as a whole:

Check out the New York Times Aug. 20 story [ďAfter Foreclosure, a Big Tax Bill From the I.R.S.Ē] about how those who had their homes foreclosed on by banks often get huge tax bills from the IRS, while the banks buy the home back, at times for $1.

Understand that contrary to much of the snide, condescending coverage in some of the media, many who are foreclosed upon had good-paying jobs that were cut back, laid off, or outsourced, and others had good-paying jobs but suffered major health problems, with ripoff costs imposed by an unjust healthcare system.


Continue reading "Brent Budowsky: Grapes of Wrath

Monday August 20, 2007, 10:42 pm
Blue Bunting, the government looks at it as a "forgiven debt". In other words, you made a commitment to the bank to pay off a loan(in this case your mortgage), if you get off the hook, as in the case of foreclosure, they consider that "money in your pocket" even though you really don't have that money to begin with. And, yes they do consider a "forgiven debt" taxable. It is also done with credit card loans, if you settle out because you cannot meet the debt, it becomes a "forgiven debt" and at the end of the year they'll send you a 1099 and you have to claim it as extra income, therefore, your taxable income increases and your tax liability is greater. In short, you wind up owing taxes. On the other side of the coin, the company that "forgives your debt" gets a "bad debt write-off" whether it was a credit card loan or a mortgage. Thus, they have less tax liability. The companies never lose. Also, the bank besides the tax write off for the "bad debt" they have a great win/win situation because now they turn around and sell your house, one more time making a huge profit. That's the sad reality. The poorer get poorer and the richer get richer. The best bet a homeowner has is to sell the house before getting to that point of foreclosure, so that at least, the homeowner avoids
the "forgiven debt" taxes.

Namaste and Best Wishes,


Andrew K (1)
Tuesday August 21, 2007, 2:54 am
Ron Paul 2008 is running for President. Watch his videos on YouTube, vote for him and we will get rid of the Fed. He is well aware of the problems with the Fed and is educating the people. Vote Ron Paul for President. You will have to register Republican and vote for him in the primaries. He is the only presidential candidate who isn't an empty sold out suit to the corporations.

Blue Bunting (855)
Tuesday August 21, 2007, 11:51 am
Miriam, even ordinary people with "no debt" will get killed in this credit market panic ... any money held in a MONEY MARKET ACCOUNT is not insured by the FDIC and if the bank/financial institution invested that money in these subprime mortgage securities bonds, then your money is gone ... you might get some of it back but not all of it.

Blue Bunting (855)
Tuesday August 21, 2007, 12:00 pm
Interesting commentary, but there is one more VERY important fact that has been overlooked.

80 -90% of these loans are insured by the Feds (ie: you the taxpayer),so the banks are already idemnified and wonít loose) nope itís you the taxpayer who will pay both for the rich banks and the poor homeloser. This is worse than socialism in the long run.

A better solution here would be to reverse the draconian bankruptcy law filed to protect those poor banks getting taken by the very people they have qualified to loan the money to. (If you and I make bad business choices we just loose the money we donít get to tell the Feds to underwrite our stupidity, but for some reason banks do?)

Thus the homeloser would remain a homeowner- be allowed to lengthen the term over which they pay off the loan and the taxpayers wouldnít get taken by the proverbial banks.

Call/email your vacationing legislators, tell them to get their lazy and ineffective tails back to DC long enough to save the economy and the taxpayers from this disaster.

Oh, and be sure to take a look at whose campaign takes contributions from MBNA, etc. ... Harry Reid lost me and Hillary Clinton lost me when their campaigns reported donations from MBNA ... also Joe BIden ... goodbye Dems in bed with the banks, slapping draconian bankruptcy laws on their constituents.

Blue Bunting (855)
Tuesday August 21, 2007, 12:20 pm
When the Fed's big guns fail, call in China The US Federal Reserve has three main cannons. One is open market operations, another the discount window, and the third is targeting a specific level of the Federal Funds rate. In the past 10 days, the Fed has shot off the first two - one was an abject failure, the other had an infinitesimally small effect. Rather than shoot the third cannon, China could be called in to bail out the US.

Pamela Salomon (255)
Wednesday August 22, 2007, 7:11 am
Noted. Thanks

John Jones (143)
Wednesday August 22, 2007, 12:35 pm
That's right, the owners of the Fedral Reserve and World Bank win either way. Another thing the only 2 people running for President, Dennis Kucinich and Ron Paul are for eleminating the FED. Acording to what I know are the real front runners, infact in the latest ABC poll Dennis is in the lead but they wont publish it, thru out the poll and had another and he was winning and it dissapeared from there web site. This is why. There is a government within the government, Bill clinton even said so, It's the same people who run the FED and they control who the President will be, not you and me. Dig deeper people, and keep digging and you will know the truth. I just don't know what we can do about short of revolution, since these people control allmost all countries and those they don't will end up destroyed.

Blabla Johnson (0)
Thursday August 23, 2007, 6:44 am
And be careful of the upcoming Amero. On you can read all about the Amero and find extensive material on the link page. Read, vote and discuss about one of the most important things to come.
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