Video: San Francisco Federal Reserve Employee Admits FED IS PRIVATE - Pays Dividends!Submitted by TheIntelHub on Sat, 11/19/2011 - 22:44
The Fed employee, David Lang, openly admits that the Federal Reserve is a private corporation. This is simply MORE proof that the Fed is a group of banksters looting this country!
Watch the video here!
The activist and independent journalist who filmed the video also wrote an article about his experience.
San Francisco Federal Reserve Employee Admits Fed is a Private Corporation that Pays Dividends to Shareholders
Recently Humboldt State University was visited by David Lang and Yelena Takhtamanova from the Federal Reserve Bank of San Francisco where they presented some information about the Federal Reserve System.
I, along with the department, took video of this event. While I was unable to take footage of the entire event, I was able to get David Lang’s presentation as well as a short portion of a question and answer period.
There were also presentations from students from an Economics class. Each group had to play the role of a private central banking head for each of the 12 Federal Reserve Branch banks. They had to make policy suggestions for the Federal Reserve banking system going forward.
Some of the groups had the right idea with the suggestion to remove the extra 0.25% interest being paid on excess reserves held with the Federal Reserve. This is a big problem and those groups got it right.
David Lang presented first, and a notable point is that at the 14 minute mark in the video below he explained that the Federal Reserve banking system paid back $78 billion to the US Treasury in 2010. It needs to be noted that he did not discuss the interest that the Federal Reserve charges on the currency in circulation.