You said the FED is not private... I wonder how you can make such a statement. Does Obama Pelosi or Reid or Beohner have any say over the creation of trillions of dollars by the Federal Reserve system other than the right to pull the charter. Does Reid say hey you can lend out that money. You can't can't buy those then worthless bonds with quantitative easing.
We don't even get a full accounting of the FEDS activities.
The FED is absolutely a private bank..
The US govt can pull their charter... but the bank is privately owned.
The stock of the regional Federal Reserve banks are owned by private banks.
There is no doubt about that.
The Federal Govt does get to appoint overseers but the overseers are matched by the bank reps and to change policy they must agree unanimously to do something. Essentially there is no govt control.
And on the regional bank level 2/3 of the boards are appointed by private banks.
The final kicker is the the electronic money creation is controlled privately not by the US Govt.
by the way here is some case law from the 9th circuit.
http://www.save-a-patriot.org/files/view/frcourt.html
This is a 9th circuit opinion....
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Lafayette L. Blair, Compton, Cal., for plaintiff/appellant.
James R. Sullivan, Asst. U.S. Atty., Los Angeles, Cal., argued, for defendant/appellee; Andrea Sheridan Ordin, U.S. Atty., Los Angeles, Cal., on brief.
Appeal from the United States District Court for the Central District of California.
Before Poole and Boochever, Circuit Judges, and Soloman, District Judge. (The Honorable Gus J. Solomon, Senior District Judge for the District of Oregon, sitting by designation)
Poole, Circuit Judge:
On July 27, 1979, appellant John Lewis was injured by a vehicle owned and operated by the Los Angeles branch of the Federal Reserve Bank of San Francisco. Lewis brought this action in district court alleging jurisdiction under the Federal Tort Clains Act (the Act), 28 U.S.C. Sect. 1346(b). The United States moved to dismiss for lack of subject matter jurisdiction. The district court dismissed, holding that the Federal Reserve Bank is not a federal agency within the meaning of the Act and that the court therefore lacked subject matter jurisdiction. We affirm.
In enacting the Federal Tort Claims Act, Congress provided a limited waiver of the sovereign immunity of the United States for certain torts of federal employees. . . . Specifically, the Act creates liability for injuries "caused by the negligent or wrongful act or omission" of an employee of any federal agency acting within the scope of his office or employment. . . . "Federal agency" is defined as:
the executive departments, the military departments, independent
establishments of the United States, and corporations acting
primarily as instrumentalities of the United States, but does not
include any contractors with the United States.
28 U.S.C. Sect. 2671. The liability of the United States for the negligence of a Federal Reserve Bank employee depends, therefore, on whether the Bank is a federal agency under Sect. 2671.
[1,2] There are no sharp criteria for determining whether an entity is a federal agency within the meaning of the Act, but the critical factor is the existence of federal government control over the "detailed physical performance" and "day to day operation" of that entity. . . . Other factors courts have considered include whether the entity is an independent corporation . . ., whether the government is involved in the entity's finances. . . ., and whether the mission of the entity furthers the policy of the United States, . . . Examining the organization and function of the Federal Reserve Banks, and applying the relevant factors, we conclude that the Reserve Banks are not federal instrumentalities for purpose of the FTCA, but are independent, privately owned and locally controlled corporations.
Each Federal Reserve Bank is a separate corporation owned by commercial banks in its region. The stockholding commercial banks elect two thirds of each Bank's nine member board of directors. The remaining three directors are appointed by the Federal Reserve Board. The Federal Reserve Board regulates the Reserve Banks, but direct supervision and control of each Bank is exercised by its board of directors. 12 U.S.C. Sect. 301. The directors enact by-laws regulating the manner of conducting general Bank business, 12 U.S.C. Sect. 341, and appoint officers to implement and supervise daily Bank activities. These activites include collecting and clearing checks, making advances to private and commercial entities, holding reserves for member banks, discounting the notes of member banks, and buying and selling securities on the open market. See 12 U.S.C. Sub-Sect. 341-361.
Each Bank is statutorily empowered to conduct these activites without day to day direction from the federal government. Thus, for example, the interest rates on advances to member banks, individuals, partnerships, and corporations are set by each Reserve Bank and their decisions regarding the purchase and sale of securities are likewise independently made.
It is evident from the legislative history of the Federal Reserve Act that Congress did not intend to give the federal government direction over the daily operation of the Reserve Banks:
It is proposed that the Government shall retain sufficient power over
the reserve banks to enable it to exercise a direct authority when
necessary to do so, but that it shall in no way attempt to carry on
through its own mechanism the routine operations and banking which
require detailed knowledge of local and individual credit and which
determine the funds of the community in any given instance. In other
words, the reserve-bank plan retains to the Government power over the
exercise of the broader banking functions, while it leaves to
individuals and privately owned institutions the actual direction of
routine.
H.R. Report No. 69 Cong. 1st Sess. 18-19 (1913).
The fact that the Federal Reserve Board regulates the Reserve Banks does not make them federal agencies under the Act. In United States v. Orleans, 425 U.S. 807, 96 S.Ct. 1971, 48 L.Ed.2d 390 (1976), the Supreme Court held that a community action agency was not a federal agency or instrumentality for purposes of the Act, even though the agency was organized under federal regulations and heavily funded by the federal government. Because the agency's day to day operation was not supervised by the federal government, but by local officials, the Court refused to extend federal tort liability for the negligence of the agency's employees. Similarly, the Federal Reserve Banks, though heavily regulated, are locally controlled by their member banks. Unlike typical federal agencies, each bank is empowered to hire and fire employees at will. Bank employees do not participate in the Civil Service Retirement System. They are covered by worker's compensation insurance, purchased by the Bank, rather than the Federal Employees Compensation Act. Employees travelling on Bank business are not subject to federal travel regulations and do not receive government employee discounts on lodging and services.
more... at the above link...
Hey I get it, you win.
Most people on ET are your CNN and FOX variety. They are firmly in your camp.
FED is not private.
CIA doesn't supply Al-qaida in Syria, with now spill over into Iraq
Building 7 didn't fall by itself on 9/11 without any plane hitting it.
Conspiracies don't exist.
You win, I am just a wacko tin foil guy on the internet......RIGHT ?
This thread is yours now, take it, I won't bother with it anymore.
Enjoy the time you got left. Take as many as you can to the poor house with you.
