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Poll: Did you know the Fed is not part of our Gov't?

Discussion in 'Political Discussion' started by PatriotsReign, Nov 24, 2008.

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Did you know the Federal Reserve was not a part of our government?

  1. Yes, I knew the Fed is a private entity completely separate from our government

    10 vote(s)
    90.9%
  2. No, I did not know this. I always thought it was a part of our federal government

    1 vote(s)
    9.1%
  1. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    WikiAnswers - Is the Federal Reserve unconstitutional

    I never knew the Fed was 100% private entity until recently. That means the gov't gave the fed $700 billion to a private corp to share with their friends.

    This is fact, not my opinion. check it out for yourself.
     
  2. MrBigglesWorth

    MrBigglesWorth Veteran Starter w/Big Long Term Deal

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    watch freedom to fascism and you'll get an eye opener

    it's a must
     
  3. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey

    Yes ... I knew ... also, when it started i don't know about now but alot of the money was from rich bankers from Britain and Germany... correct me if that's in error.
     
  4. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    And yet we as Americans sit here and say "whatever"... why don't people with more power and a larger audience than regular guys like us confront our gov't with this issue? And I mean confront them as in "In your face" type confrontation.
     
  5. sdaniels7114

    sdaniels7114 Experienced Starter w/First Big Contract

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    The worst of it is that Hitler, Osama and, believe it or not, Eric Mangini are the true, secret leaders of this sick and evil organization.

    I wanna see Ben Bernanke's birth certificate.
     
  6. Leave No Doubt

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    I knew but had no idea of the implications surrounding the creation of a privatized, centralized bank until our economy hit the skids. Amazing but the FR's board members' term is 14 years meaning their term can last through several presidencies.

    Interestingly, some of our founding fathers tried to warn us against the creation of a centralized bank and Ron Paul spoke out against it back in 02.

    Abolish the Federal Reserve

    Apparently there's been a "grass roots movement" of sorts trying to abolish the Federal Reserve:

    End the Federal Reserve Bank Propeller

    More information and food for thought:

    YouTube - Zeitgeist - The Movie: Federal Reserve (Part 1 of 5)

    YouTube - Zeitgeist - The Movie: Federal Reserve (Part 2 of 5)
     
  7. Wildo7

    Wildo7 Totally Full of It

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    I don't know why people keep saying this. The Fed is not a private corporation. It's run by the government. It does not operate for profit. It's a governing body that banks must adhere to. I'm not saying that I agree or disagree with the Federal Reserve, but this myth that it's some unconstitutional private corporation is just getting silly.

     
    Last edited: Nov 25, 2008
  8. sdaniels7114

    sdaniels7114 Experienced Starter w/First Big Contract

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    The problem is that its complex. Many have trouble distinguishing it from the Treasury department.

    The Fed actually has more gold than the United States itself. There's 5000 tons of gold stored in the Fed's bank in Manhattan. Fort Knox only has around 4600 tons. the Fed's gold actually belongs to dozens and dozens of other countries. Its just 'holding' it for them for some weird reason.
     
  9. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Wildo...I think you're wrong. Why did JFK want to get rid of it? Where did you get your information?
     
  10. Fogbuster

    Fogbuster Pro Bowl Player

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    A voice of reason, in this case. :)eek:)

    The Fed is not something out of Area 57 or Roswell or anything like that. It's private, yes, but would you rather have Chris "Bad loans are the problem, always were" Dodd and Barney "the CRA has nothing to do with it" Frank running our banking system???????

    Now THAT would be truly frightening.


    //
     
  11. STFarmy

    STFarmy In the Starting Line-Up

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    It's also incorrectly reported that Woodrow Wilson, on his deathbed, lamented his creation of it and claimed how it would be the death of the American way (or something like that). As I understand it, that's not true either.
     
  12. Leave No Doubt

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    It seems there are differing opinions on the FR because it's a grey area so to speak. The board of governors is appointed by the prez and approved by the senate but meets separately and independently from our government unless there's a problem, in which case they "confer". The bottom line seems to be whether private or not it basically governs itself.

    Here are a few info links:

    fed101

    Federal Reserve System

    EDIT: Given the fact the chairman's term is 14 years and he/she can also be reappointed for another 14 seems to render the prez/senate involvement sort of lame duckish.

    Federal Reserve - The Federal Reserve is a Privately Owned Corporation
     
    Last edited: Nov 25, 2008
  13. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Ok, so answer me this....

    Since the Fed is a private organization, why can't the chairman be fired?

    I'll be waiting for answers from those who believe the Fed is legal.
     
  14. Leave No Doubt

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    And who would technically do the "firing" if that was even possible? The senate,the president, the board of governors, or?
     
  15. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    The fact is...either the Fed is part of the gov't or it isn't. If it's privately held, then the board of directors can fire him or someone has to be able to fire him. That's just the way ALL privately held corp's work.

    If it's part of the gov't, then it can't be privately held. The Fed HAS to be one or the other. Either it's run by the gov't or it isn't. It is not legal to to have it both ways LND.

    So which is it?
     
  16. Leave No Doubt

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    You know MY opinion on that-for all intent and purpose it's an independent entity. Despite the fact the governor's appointed by the prez, in all reality it functions on it's own. Of course maybe that appointment is the technicality which allows for certain things. Ask those who think it's legal and in good stead-I'm not one of 'em. (This should have been pretty obvious).
     
    Last edited: Nov 25, 2008
  17. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Oh...So we agree. I was wondering so I guess you wanted to

    "Leave No Doubt"!!:D
     
  18. TheGodInAGreyHoodie

    TheGodInAGreyHoodie Experienced Starter w/First Big Contract

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    Your polls is seriously flawed, because it is part of the US Gov't. Your evidence that it isn't is a post to a seriously flawed posting on wiki answers, which as no more credibility or oversight than the postings on a football blog.

    First off the pres appoints and the senate confirms the leadership. It is not under the direct control of the pres unlike the treasury but is still part of the government, just like the CIA, which too is quasi-independent.

    I without going too far into the post I could tell the poster was highly uniformed by claiming the S.Ct had said something and then citing to a book that doesn't report S. Ct. cases.
     
  19. TheGodInAGreyHoodie

    TheGodInAGreyHoodie Experienced Starter w/First Big Contract

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    I know the pres can't fire.

    I do know that any position that requires senate confirmation can also result in impeachment (requires both houses). There might also be a method of removal by the governors.
     
  20. Run DMC

    Run DMC In the Starting Line-Up

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    #24 Jersey

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