The Money Matrix – Who Owns the FED
by ilene - June 30th, 2009 10:25 pm
Get to know the Fed a little better.
And be sure to sign up for a free subscription to PSW Report. (I was asked to put the shameless promotion on another line.)
The Money Matrix – Who Owns the FED (UPDATED PART 7/15)
…and why it both does and does not matter.
By Jake Towne, the Champion of the Constitution. "As always, unlike the NFL, the author grants full permission to allow any accounts of, rebroadcasts, retransmissions, repostings of this article to your blog or anywhere else in order to promote the Restoration of our Republic."
CARTEL – n. a combination of independent commercial or industrial enterprises designed to limit competition or fix prices (per Merriam-Webster’s Dictionary) (emblem)
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[This article is updated with more infomation and the March 2009 figures released from this February article in response to a couple press requests. The figures were calculated from the FED data here, using the same method described here.]
So, who owns the Federal Reserve? Well, it certainly is not the US government, as many would suppose. In fact, I have found that quite a few – including myself last year – who are roughly aware of how the FED works but believe that the owners of the FED is a secret. Well, it is not. The FED’s Purposes and Functions (page 21/146) reads:
"As of March 2004, of the nation’s approximately 7,700 commercial banks approximately 2,900 were members of the Federal Reserve Systema – approximately 2,000 national banks and 900 state banks. Member banks must subscribe to stock in their regional Federal Reserve Bank in an amount equal…