FEDERAL RESERVE

[Dealey Joe]

The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States.

It was created on December 23, 1913 with the enactment of the Federal Reserve Act, largely in
response to a series of financial panics, particularly a severe panic in 1907.[2][3][4] Over time,
the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved.[3][5] Events such as the Great Depression were major factors leading to changes in the system.[6] Its duties today, according to official Federal Reserve documentation, are to conduct the nation's monetary policy, supervise and regulate banking institutions, maintain the stability of the financial system and provide financial services to depository institutions, the U.S. government, and foreign official institutions.[7]The task of the Federal Reserve System is to maintain employment, keep prices stable, and keep interest rates at a moderate level by regulating monetary policy. Components of the Federal Reserve System also supervise banks, provide financial services, and conduct research on the United States economy and the economies in the surrounding region.The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors (or Federal Reserve Board),
the Federal Open Market Committee (FOMC), twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous privately owned U.S. member banks and various advisory councils.[8][9][10] The FOMC is the committee responsible for setting monetary policy and consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only
five bank presidents vote at any given time. The Federal Reserve System has both private and public components, and was designed to serve the interests of both the general public and private bankers.
The result is a structure that is considered unique among central banks. It is also unusual in that an entity outside of the central bank, namely the United States Department of the Treasury, creates the currency used.[11]According to the Board of Governors, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government." Its authority is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight. The members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by Congress. The government also exercises some control over the Federal Reserve by appointing and setting the salaries of the system's highest-level employees.

Thus the Federal Reserve has both private and public aspects.[12][13][14][15] The U.S. Government receives all of the system's annual profits, after a statutory dividend of 6% on member banks' capital investment is paid, and an account surplus is maintained. In 2010, the Federal Reserve made a profit of $82 billion and transferred $79 billion to the U.S. Treasury.Federal Reserve ActNewspaper clipping, December 24, 1913The head of the bipartisan National Monetary Commission was financial expert and Senate Republican leader Nelson Aldrich. Aldrich set up two commissions—one to study the American monetary system in depth and the other, headed by Aldrich himself, to study the European central banking systems and report on them.[24] Aldrich went to Europe opposed to centralized banking, but after viewing Germany's monetary system he came away believing that a centralized bank was better than the government-issued bond system that he had previously supported.In early November 1910, Aldrich met with five well known members of the New York banking community to devise a central banking bill. Paul Warburg, an attendee of the meeting and long time advocate of central banking in the U.S., later wrote that Aldrich was "bewildered at all that he had absorbed abroad and he was faced with the difficult task of writing a highly technical bill while being harassed by the daily grind of his parliamentary duties".[25] After ten days of deliberation, the bill, which would later be referred to as the "Aldrich Plan", was agreed upon. It had several key components, including a central bank with a Washington-based headquarters and fifteen branches located throughout the U.S. in geographically strategic locations, and a uniform elastic currency based on gold and commercial paper. Aldrich believed a central banking system with no political involvement was best, but was convinced by Warburg that a plan with no public control was not politically feasible.[25] The compromise involved representation of the public sector on the Board of Directors.[26]Aldrich's bill met much opposition from politicians. Critics were suspicious of a central bank, and charged Aldrich of being biased due to his close ties to wealthy bankers such as J. P. Morgan and John D. Rockefeller, Jr., Aldrich's son-in-law. Most Republicans favored the Aldrich Plan,[26] but it lacked enough support in Congress to pass because rural and western states viewed it as favoring the "eastern establishment".[2] In contrast, progressive Democrats favored a reserve system owned and operated by the government; they believed that public ownership of the central bank would end Wall Street's control of the American currency supply.[26] Conservative Democrats fought for a privately owned, yet decentralized, reserve system, which would still be free of Wall Street's control.[26]The original Aldrich Plan was dealt a fatal blow in 1912, when Democrats won the White House and Congress.[25] Nonetheless, President Woodrow Wilson believed that the Aldrich plan would suffice with a few modifications. The plan became the basis for the Federal Reserve Act, which was proposed by Senator Robert Owen in May 1913. The primary difference between the two bills was the transfer of control of the Board of Directors (called the Federal Open Market Committee in the Federal Reserve Act) to the government.[2][21] The bill passed Congress on December 23, 1913,[27][28] on a mostly partisan basis, with most Democrats voting "yea" and most Republicans voting "nay"

[Dealey Joe]

By Bob:
We all know what JFK attempted to do to change the Federal Reserve and also his plans to
change the oil depletion allowance.

Those were two paramount reasons for his murder on 11/22/1963.

In addition to that, JFK was not listening to the Military Industrial Complex and their plans
to invade Cuba and to escalate the war in Southeast Asia.

Add to that, JFK was trying to tear apart the CIA. Those groups also wanted JFK dead.

Think about all the wars that are ongoing today and how out of control the CIA is.

JFK saw the future in terms of what the war profiteers and people of their ilk were trying
to do.

He also saw what big banking and big oil were trying to do. With that being said, please
see this...

http://www.infowars.com/the-federal-res ... -families/

[R Croxford]

People never seem to put together the fact that Kennedy replaced Eisenhower and if he tried to tell the people about the military industrial complex.

What do you think he told Kennedy ?

[R Croxford]

BTW.

The banks that were bailed out were that of the FED.

If they fail the money goes away. Not depreciated. Gone!

That's why there was no option.

Why ?

[Bruce P. Brychek]

Saturday
12.19.2020
11:11 a.m.,
Chicago, Illinois time:

Dear JFK RFK MLK Forum Members and Readers:

11.30.2011 - Joe Hall originally Posted and Circulated this Consistently Relevant Headline and
Supporting Material.

Lacking some/all artistic/graphic abilities/talents, I struggle w/ my analogies. Try to visualize...

Ever been too, ridden on, watched, etc., a roller coaster - up - down - all around - right.

Now What I do is Visualize "We there People..." being told some facts, many lies, mostly incomplete
narratives/stories, etc.

We have all of these Crossing Over, Crossing Under, Overlapping, Overlaying, Tangentially Related,
etc., Major Issue Roller Coaster Rides - BUT OF TREMENDOUSLY DEADLY, IMPACTING, POWERFUL,
etc., FORCES CONSTANTLY, CONSISTENTLY ON "We the People..." ...things like...

:diseases, education, family life, government, history, life, politics, wars, weather, taxes, etc.,
and Oh yes -

MONEY - WHO CONTROLS, CREATES, GENERATES, REGULATES, TAXES, etc., ALL OF THE MONEY
OF "We the People..." Coming and Going Up and Down and All Around !

I Visualize that as The Biggest U.S. Roller Coaster of all times. Still seeking clarity on "Them."

As always, I strongly recommend that you first read, research, and study material completely
yourself about a Subject Matter, and then formulate your own Opinions and Theories.

Any additional analyses, interviews, investigations, readings, research, studies, thoughts, or
writings on any aspect of this Subject Matter ?

Bear in mind that we are trying to attract and educate a Whole New Generation of JFK
Researchers who may not be as well versed as you.

Comments ?
Respectfully,
BB.