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Forum Post: Court Rules Federal Reserve is Privately Owned Case Reveals Fed's Status as a Private Institution

Posted 12 years ago on Dec. 19, 2011, 2:16 p.m. EST by Keepitsimple (110)
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For full article: http://www.globalresearch.ca/index.php?context=va&aid=8518

Court Rules Federal Reserve is Privately Owned Case Reveals Fed's Status as a Private Institution

Below are excerpts from a court case proving the Federal Reserve system's status. As you will see, the court ruled that the Federal Reserve Banks are "independent, privately owned and locally controlled corporations", and there is not sufficient "federal government control over 'detailed physical performance' and 'day to day operation'" of the Federal Reserve Bank for it to be considered a federal agency:

Lewis v. United States, 680 F.2d 1239 (1982) John L. Lewis, Plaintiff/Appellant, v. United States of America, Defendant/Appellee. No. 80-5905 United States Court of Appeals, Ninth Circuit. Submitted March 2, 1982. Decided April 19, 1982. As Amended June 24, 1982.

Plaintiff, who was injured by vehicle owned and operated by a federal reserve bank, brought action alleging jurisdiction under the Federal Tort Claims Act. The United States District Court for the Central District of California, David W. Williams, J., dismissed holding that federal reserve bank was not a federal agency within meaning of Act and that the court therefore lacked subject-matter jurisdiction. Appeal was taken. The Court of Appeals, Poole, Circuit Judge, held that federal reserve banks are not federal instrumentalities for purposes of the Act, but are independent, privately owned and locally controlled corporations.



Read the Rules
[-] 2 points by demcapitalist (977) 12 years ago

Your probly never going to get rid of the fed ---------but we could bring back Glass Steagall and that would at least get wall street out of our banks. https://wwws.whitehouse.gov/petitions#!/petition/re-establish-and-maintain-separation-between-investment-banks-and-commercial-banks/ywCMKDfn

[-] 1 points by MonetizingDiscontent (1257) 12 years ago

Woot! ~Glass Steagall will divide them~

Beak the Too Big To Fail Banks Up, with a straight -up or down- vote! No amendments!!

[-] 1 points by MonetizingDiscontent (1257) 12 years ago

-Beautiful Post-

Has anyone else seen that video that was circulating around the net, where the Federal Reserve had private property signs put up? The signs were meant to keep protesters away; from a 'federal' building which has huge 'federal' seals displayed on the side of their building. (but, again... with private property signs everywhere)

[-] 1 points by Keepitsimple (110) 12 years ago

Hi, I'd like to see that video. Any links?

To me, the Fed conducts business as tho it is independent of the gov. Charging interest to the gov for printing money. If the Fed was an agency of the gov, it couldn't charge itself interest on it's own money. It all seems so convoluted, underhanded and not part of a healthy gov. Seems it's more of a parasite to what ever it touches except the select banking cartel.

[-] 1 points by MonetizingDiscontent (1257) 12 years ago

yes, but I guess I cant post it because you cant use his material on this site, apparently. Maybe I can post this one though.

::::::::Federal Reserve Admits: We Have No Gold!::::::::

(((Video))) http://www.youtube.com/watch?v=0OkITedQrek&feature=related

The Federal Reserve only holds Gold Certificates!

[-] 1 points by hidden (430) from Los Angeles, CA 12 years ago

Duh, They state that they are independent at the end of the second page of the "Overview of the Federal Reserve System"

The Federal Reserve System is considered to be an independent central bank because its decisions do not have to be ratified by the President or 2 Overview of the Federal Reserve System anyone else in the executive branch of government. The System is, however, subject to oversight by the U.S. Congress. The Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government; therefore, the description of the System as “independent within the government” is more accurate.


[-] 1 points by FrogWithWings (1367) 12 years ago

Of course, but a court case is need to decide what is already known to be fact! Just like congress needs to placate Americans by passing laws making insider trading illegal for them too, even though it already is!

[-] 1 points by NewEnglandPatriot (916) from Dartmouth, MA 12 years ago

However it has been taken over by private banking interests. It was never meant to be as it is now, and this oversight will lead to its demise, and ours shared alike. It is as "federal" as "Federal Express" and this is a fact. Glass Steagal would have prevented this hijack of the institution. You, me, my family, yours, and all of the property is collateral to this bank. We the people are the "reserve" through hedges and derivatives. We are the monetary standard. Your birth certificate is a "certificate of origin" in which derivatives are created. As are loans, as are commodities, etc. It has spiraled out of control. The debt ceiling is our credit-limit. We keep extending it, but the interest keeps piling up. This is the problem. This debt can never be paid off. FDR and their crew made us the collateral through assigning us social security numbers. We were "securitzed" at that time. This also set up for payroll taxes, paid to the IRS and the trust fund. The IRS is a tax collector for your piece of the national debt to be paid to the IMF. They knew it would fix things short term, and knew the risks. They are dead now it is our problem. The banks have always caused the problem, we failed yet again to catch this until it was too late. Next will be "global" currency, and world unity to yet again temporarily "fix" things for a couple of generations. We will be tagged/chipped like cattle in the name of border control/identity theft prevention. This next generation of kids will go for it, it is coming.....

[-] 1 points by hidden (430) from Los Angeles, CA 12 years ago
[-] 1 points by NewEnglandPatriot (916) from Dartmouth, MA 12 years ago

I love these, I have seen already. Great links, I was aware before I came across these though. More facts people we need to wake up! Great post!

[-] 0 points by NewEnglandPatriot (916) from Dartmouth, MA 12 years ago

Over the years, I took several economic and business courses, worked @ StateStreet, and always knew it was a ponzi scheme. It is a bubble that will pop. I always knew it was a facade and self-predicted the 2008 meltdown. I got out just before. When the big bubble finally pops, look out! Our sovereignty that we think we have will be taken! Look at the EU it is coming here folks! It was supposed to last longer, and bubbles are popping sooner than later. The pop culture hypnosis distractions and "dumbing down" of the masses has accelerated it. The masses have no idea , I am glad I never had any real stake in it. In a sense, I take the George Carlin perspective. It is the only way you can remain "free" by not being held pensioner. The US "territory" will become a third world nation, as there are no resources left to sustain it - except "human resources", hence how the term was coined. We were bled out a long time ago through humanitarian relief fronts, homeland social programs, etc. This is why credit and commerce must live as it is the only thing keeping the ponzi scheme afloat to conquer the world.

[-] 1 points by hidden (430) from Los Angeles, CA 12 years ago

I agree with everything, except "there are no resources left". Resources are everywhere, we're just not extracting them.

[-] 0 points by NewEnglandPatriot (916) from Dartmouth, MA 12 years ago

Our national park "reserves" , wildlife "reserves" and Alaska are all thats left for natural resource.

Regulations are hindering this. These resources will not sustain this territory much longer. It is all earmarked for military and govt. BP oil spill made it even worse. There will be no nature left, that is not the only way. The Alaskan oil is earmarked for military reserve. They are using other resources to sustain HAARP. I do not know what the ultimate plans are, but we as human resources are definitely more viable than anything. The will extract labor for time to come.....However there are no "good jobs" , and much of what is left is only service based, no manufacturing. Service=medical, banking, automotive, home/heating, equipment, computer/tech, home health, temp agencies, social service, addiction service, fast food, chain restaurant, food service procurement, administration, payroll(ADP Paychex) you see my point? That is why they bailed out auto, very little manufacturing. Everything is service or sales, insurance, and automotive after manufacture becomes sales then service. We are on a giant hamster wheel

[-] 1 points by hidden (430) from Los Angeles, CA 12 years ago

I got your point, the resources will not sustain our consumeristic lifestyle, but it's plenty to sustain resource based society :)

[-] 0 points by NewEnglandPatriot (916) from Dartmouth, MA 12 years ago

Yep, and when momma & poppa gov start cutting social umbilical cords it will get worse.But they won't let it. They keep bailing out. Or wait isn't that what we want? (speaking for liberal/social ideals not myself) The majority to become dependent on government and social programs....The groundwork for the next phases of socialism....Police state via military, permanent employment with less freedom of choice in matter...and equality. We will all be lowered in class of standard of living...The ones in power remain and retain wealth, the final check then mate.....We are almost there.The middle class will be the only ones oppressed, For example lost my good paying job in 2008. Got unemployment for bit, did some self employment work and a government temp job. Income lowered no benefits now. I am being forced via loan mod, etc. They actually "want" to help me. I want to work harder, but I am being railroaded amongst many others..All the good paying jobs are filled, all that is left are table scraps. The low paying min wage jobs, p/t having to juggle crazy schedules/commutes. I made more money for a bit, and cannot afford the crappy health insurance offered. They make you take it or get penalized. Pay now or later. I do no care, as I am not in need of it at this time, I take care of myself fit & healthy. No meds, etc. I need to work 3+ p/t jobs to hold ground with no life.... Fine even a 12-17$/h job, no benefits won't cut it. I can sustain, but my dreams of getting ahead in this climate are grim. I am not working @ moment, but will get something...It is getting worse by the year. I will do my best as always - but I am realistic... It is a struggle, and I am glad I don't have a family to support. Actually it could be worse for me, not too many can go 3 yrs 9+ mos without their mainstream income and hold onto a home in this climate... I will prevail though....Just a little venting sorry....