Tax Cuts and Revenue

[jem]

this is entertainment

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[jem]

lets take the opinion out of the statement and look at the facts...
-the shares are owned by private banks - per the website

- the stockholders gets paid a dividend that pays out billions.

- but most importantly regional federal reserve banks can print trillions of dollars without telling congress or anybody in govt.

How is that for private ownership?

Try as I might, I was unable to find the statement you refer to on the Fed's website when you wrote " the Federal Reserve website itself explaining stating the regional fed banks are entirely owned by private shareholders." Perhaps you can find it for me.

In the meantime, I'll post what I did find on the Fed's website, because it is possible that others' reading comprehension is different from yours.:

Who owns the Federal Reserve?

The Federal Reserve System fulfills its public mission as an independent entity within government. It is not "owned" by anyone and is not a private, profit-making institution.

As the nation's central bank, the Federal Reserve derives its authority from the Congress of the United States. It is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms.

However, the Federal Reserve is subject to oversight by the Congress, which often reviews the Federal Reserve's activities and can alter its responsibilities by statute. Therefore, the Federal Reserve can be more accurately described as "independent within the government" rather than "independent of government."

The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

the underlining is mine.

 

[piezoe]

so what if some of their profits flow to the treasury...

So finally just so we pin your evasive butt down.
Are you saying the reginal federal reserve banks are not privately owned?

"so what if some of their profits flow to the treasury... "

I apologize for nit picking, but it is not "some" of the profit , it is all of the net profit. In the way I am using it, "all" means 100% .

"So finally just so we pin your evasive butt down."

Who is "we"?

"Are you saying the reginal federal reserve banks are not privately owned?"

I am definitely, and emphatically, NOT saying "reginal".

I am simply accepting as accurate what the Fed itself has already said with regard to "Who Owns the Federal Reserve?" I posted the Fed's position on ownership somewhere above. Feel free to read it.

 

[jem]

Just found this... apparently one of becks last shows on fox. already enjoy it while making calls.

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[dbphoenix]

Just found this... apparently one of becks last shows on fox. already enjoy it while making calls.

Ah. Glenn Beck. Fox News. What more is there to say?

 

[Ricter]

Ah. Glenn Beck. Fox News. What more is there to say?

I'm respecting Beck a bit more these days. His efforts to help those immigrant kids are admirable. To me that's how real Christians behave.

 

[jem]

the old go after the messenger if the message is not a leftist message.
are you another pre fascist troll who claims the regional fed banks are not private?

Ah. Glenn Beck. Fox News. What more is there to say?

 

[Ricter]

the old go after the messenger if the message is not a leftist message.
are you another pre fascist troll who claims the regional fed banks are not private?

Lol, you do the same a half dozen times a day.

 

[Tsing Tao]

I'll give you an answer as simple as your question. I'm unqualified to choose between Mr. Grant and myself because I know virtually nothing about him.

And...there's the dodge. I gave you his credentials. So you either believe you know more about the economy and would be better off running the Fed or you believe he would. I get it, you can't answer because answering would trap you.

Expected.

 

[jem]

I attacked Quiggen's message and called him a leftist for producing the fake models instead of real data... there is a difference.

Lol, you do the same a half dozen times a day.