Today's Federal Reserve is effectively an independently directed (By statute) arm of the Treasury. 100% of Federal Reserve net profits flow directly back to the U.S. Treasury. The U.S. Treasuries reserve account is a Federal Reserve Account. The Treasury and Fed coordinate on a daily basis. The reason you can write a check on a U.S. bank and be certain it will clear regardless of the bank's solvency is due to the U.S. Federal Reserve. This was not true in Thomas Jefferson's time.
Who still writes checks? What statute makes Federal Reserve Incorporated LLC an arm of the Treasury? Net profits imply auditable accounting. just sayin' . . . That - will never happen. That you Can take to the bank. hmmmm, wonder how that debt clock's getting along, lets go click that link and compare. Wow, that's a lot o' debt per critter. Cheers!
Quiz: Name a country without a central bank. And I mean a real country, not a dictatorship or city state. Also any idiot who is bitching about central banking should study banking in the 1800s US, where banks went bankrupt left and right and there were all kind of banknotes in circulation.
The Fed has regular internal and external audits. It's transactions are part of the public record. The majority of its transactions are posted on the Internet in almost real time. A few are delayed. The same things can be said of Treasury transactions. If you want to see what specific issues the Fed is buying or selling you can do that, or if for example you want to know the recipients of TARP money and see the status of individual items in the TARP account, you may do that as well. These transaction are a part of the public record. That you are unaware of any of this should not be an excuse for posting incorrect or misleading information. The Federal Reserve, including the regional Banks, and the Treasury maintain highly detailed, up to date websites. May I recommend them to you. There are many valid criticisms that may be voiced with regard to Fed or Treasury operations, your remarks would not fall under that category.
Not "central banking", but "private central banks", particularly the private central bank of the U.S. - the Federal Reserve, created in 1913 by fraud, and in express violation of Article 1, Section 8 of the U.S. Constitution. You will find most of the crucial details in Eustace Mullins' book "The Secrets of the Federal Reserve" (1952). I also recommend books by Irwin Schiff (died in federal prison a couple of years ago as a political prisoner): - The Federal Mafia - The Biggest Con - How the Government is Fleecing You As for banking chaos in the 1800s, they were almost exclusively created by well-connected robber barons plotting to form or revive private central banks - especially the First Bank of the United States and the Second Bank of the United States. Similar tactics & strategies were employed in creating the Federal Reserve. You are misinformed. You might want to start questioning your sources. If there was a statute that would permit the government to take your property without your consent or knowledge, would you accept it? Have you tried to verify those claims? I'm not aware the Fed has ever been audited. In fact, a few years ago when Ben Bernanke was asked by Congress to reveal the identities of beneficiaries of some 20+ trillion "loans" the Fed had made on the back of US taxpayers, he responded "No!" You've said it yourself - the Fed is independent (you are wrong about the "arm" part though). Legally, it does not answer to Congress or the President of the United States. "Let me control a nation's money supply, and I care not who writes its laws." -- Mayer Amchel Rothschild What does it mean, and why ?