Here we get to the heart of the confusion. Someone above asserts that the fed is......
"actually a private corporation since it disburses stock dividends to member banks."
when a bank becomes a member of the federal reserve system they have to pony up a deposit. Think of it as a membership fee. They get paid interest on that money. They also get "Stock". But the stock is non tradable and nonvoting and specifically confers no ownership rights. But people the word stock and immediately think of private ownership. It just isn't so.
For example. I belong to a beach club. To join I had to post a deposit. I got issued a certificate of membership. I get paid interest on my deposit every year. But I don't "own" the beach club.
Quoting: Anonymous Coward 888427The difference between "private" and "public" control is based upon transparency or secrecy. The "fed" is PRIVATE.
Another difference between "private" and "public" control is based upon WHO makes the operating decisions. "Public" control by logic means the citizenry choose the direction and policies; "private" means that the Public has no voice or sway in any matters.
The "federal reserve banks" are NOT PUBLICALLY CONTROLLED and therefore are PRIVATE. End of story.
Furthermore, the 16th Amendment was NEVER RATIFIED BY 2/3RDS OF THE STATES and is ILLEGAL.
And FUTHERMORE, the actions of the "federal reserve" in printing currency and dictating monetary and fiscal policy for and to the government of the people of the united states of America (and not the corporation known as the US, Inc.) is ILLEGAL according to the United States Constitution.
ONLY CONGRESS has the right to issue currency and set policy.
Through the "no child left behind act" which is CODE for the "dumbing down of America" most people do not have any idea what the US Constitution REALLY says. It's not hard to understand folks! Get a copy and a Dictionary and READ IT!!
Even Thomas Jefferson who was a Mason knew that handing over control of the monetary system to private individuals would create the end of the United States as he, and his fellow drafters of the Constitution had intended:
""We must not let our rulers load us with perpetual debt.
We must make our election between economy and liberty
or profusion and servitude.
If we run into such debt, as that we must be taxed in our meat and
in our drink, in our necessaries and our comforts, in our labors and
our amusements, for our calling and our creeds...
[we will] have no time to think,
no means of calling our miss-managers to account
but be glad to obtain subsistence by hiring ourselves
to rivet their chains on the necks of our fellow-sufferers...
And this is the tendency of all human governments.
A departure from principle in one instance
becomes a precedent for [another ]...
till the bulk of society is reduced to be mere automatons of misery...
And the fore-horse of this frightful team is public debt.
Taxation follows that, and in its train wretchedness and oppression." July 1816
