Welcome login | signup
Language en es fr
OccupyForum

Forum Post: The FED Is Proudly Non-Profit!

Posted 12 years ago on Nov. 1, 2011, 3:20 p.m. EST by HitGirl (2263)
This content is user submitted and not an official statement

That is what Bernanke will claim, but the truth is the FED loans out billions - even trillions! - of We the Peoples money at next to zero interest rates from which banks profit handsomely. If they just buy US bonds with the money they are making a profit. So here's another wealth-trough for the bankers.

If the dealings of the FED don't become completely transparent, it has to go.

12 Comments

12 Comments


Read the Rules
[-] 2 points by FrogWithWings (1367) 12 years ago

"If the dealings of the FED don't become completely transparent, it has to go."

Give me whatever shred of good faith evidence you have on which to base your notion that upon inspection of all their dealings, it will somehow undo what has been done publicly?

The Fed has to go, I've no idea how much people power it will take for comptrollers and auditors to sort out the years of mess, but, for the people's books to be reconciled and have a clue where to collect what has been stolen, it has to be done.

Did you catch the 159 trillion the Fed used to backstop BOA and JPMorgan shady derivatives on the same day Quadaffi was killed?

[-] 1 points by packetStorm (128) 12 years ago

You can nationalize the fed reserve banks ... and wipe out the debt held by the primary dealers ... for starters.

[-] 2 points by PublicCurrency (1387) 12 years ago

The Federal Reserve System was designed by the bankers for the enrichment of the bankers

[-] 2 points by thoughtmark (6) 12 years ago

We the people may not want to make waves when we don't have demonstrative evidence of fraud. However, the Fed is nontransparent. And many claim the Fed is corrupt. It should be transparently clear to anyone with reasoning capacities that the burden of proof rests with the Fed to defend itself against this claim by being transparent. I suspect that the results will be surprising, as were the results a few weeks ago from a "small" audit showing the Fed clearly favors the ultra-rich. It is impressive how little was said in the media about such a large story! (I mean the Fed bailed out South Korea and gave money to its own board members!). This country gives one many reasons to be creeped out.

[-] 0 points by HitGirl (2263) 12 years ago

The FED handles We the Peoples' money. Can you imagine banking with a bank that won't reveal your transaction records when you inquire as to why your balance is so low? That is what we've got going on with the FED. Congress has a responsibility to oversee the FED and they dropped the ball in a BIG way. And, frankly, my opinion of congress is so in-the-trash right now that I'd only accept a non-partisan third party auditor.

[-] 0 points by packetStorm (128) 12 years ago

No. THe FED creates money from nothing. The 11th marble ...

[-] 1 points by SparkyJP (1646) from Westminster, MD 12 years ago

"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." — Henry Ford

[-] 1 points by Dalton (194) 12 years ago

"The only statement I care to make about the Protocols [of the Elders of Zion] is that they fit in with what is going on." --- Henry Ford

You might want to try quoting someone who wasn't a crazed anti-Semitic conspiracy theorist. Just 'cos the man could make cars doesn't mean we should listen to him about anything else.

[-] 1 points by SparkyJP (1646) from Westminster, MD 12 years ago

I simply took the quote for it's specific content; not the man's religious beliefs. As a very prominent business man of his time, I think his view on the banking system (and how he thought the people would feel about it) is very revealing. Perhaps a quote from an ex-president might be more palatable (I don't know his religious beliefs either):

"A great industrial nation is controlled by it's system of credit. Our system of credit is concentrated in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world--no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of small groups of dominant men." — President Woodrow Wilson

[-] 0 points by Dalton (194) 12 years ago

"I simply took the quote for it's specific content; not the man's religious beliefs. As a very prominent business man of his time, I think his view on the banking system (and how he thought the people would feel about it) is very revealing."

But "as a very prominent businessman of his time" he was also a racist and a paranoid lunatic. Quoting him gives no credibility to anything that you wish to say.

[-] 1 points by SparkyJP (1646) from Westminster, MD 12 years ago

"Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders."

– The Honorable Louis McFadden, Chairman of the House Banking and Currency Committee in the 1930s