8 votes

The Federal Reserve

Ah, yes ... The Federal Reserve.

Got your attention, yet? (lol)

I remember hearing some time in the past about the FR having a 100-year charter that started in 1913, which would mean it expires this year.

But then, I read something awhile back that said the FR only had a 20-year charter originally. Didn't really think much of it, until I ran into that claim again. And 2+2 started to equal 4.

First off, the first attempt at a central bank had a 20-year charter. It was founded in 1791, and expired in 1811. (Madison was President in 1811.)

The next attempt was in 1816 for guess how long ... 20 years. It expired in 1836. Jackson helped kill it.

So, it stands to reason that they would have gone for 20 years again in 1913.

If they did, then that means it would have expired in 1933 -- the same year that FDR stole the gold!

Some say that that the two are related events.

But not only that, I ran across a website that claims that the FR charter was NEVER RENEWED.

Don't know anything about this website, but maybe others here can elaborate on what they know.

Here's the site:
http://news.goldseek.com/GoldSeek/1095269452.php




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If you'll read Louis McFadden's speeches

he makes a great many references to fifty years. I've always assumed the FED (originally) had a fifty year charter and that it must have been up for renewal in 1963.

Wow- what a coincidence! 1963 is the year they splattered Kennedy's head all over the pavement in Dallas. November 1963. Which would have been ~a month from the FED's "Golden Anniversary".

The Goldman Sachs LOL

The Fed is a charity. A non-profit. Not funded by Congress....

... congressional appropriations. [Gaslights up. Norman Rockwell family room scene. Grandpa wearing 'Santa' cap. Granddaughter Virginia on his lap in rocking chair. Granddaughter ready for bed; not yet sleepy.]

Dear Virginia,

So you ask...

Their owners are in their own words:

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.

Their you have it. A charity if there ever was one. Never keeps any profit. And that 3 trillion on their ballooning balance sheet? Well???

    (6% to owners of owners; excess profit returned to US Treasury).

So you see Virginia, there really is a Fed. A real virtue for those that squirrel away would be profit from poor folk. A bain for those that invest in those sorts of things (example: Bain Capital). Maryland & the Carolinas too.

That preposterous 16 trillion National Debt owned to them? Shall we save that till... Say, the next 100 years?

You remember what you where told about Santa Claus, don't you? Well, the Fed is more of the same... No reindeer... It's 20 mule team wagon train is pulled by what some derisively call "jackasses." ... Lot's of them... I cannot count. That is for you in your dreams.

Goodnight.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Ah, yes ... that old 6% dividend thang ...

... and the "profits" are "returned to the US Treasury" ... making it all legit, eh?

That's what we are told, of course, to make it sound legit.

But ...

Anyone familiar with accounting knows that "profit" and "dividends" is what comes AFTER all expenses.

And ...

Just what ARE those expenses?

It is rumored that the Fed has a fleet of private jets, priceless artwork in the board rooms, and much more.

We have no idea what those EXPENSES are ... "consulting fees" to this or that company ... "donations" to this or that charitable organization ... "funding" for this or that university research department?

Everyone who talks about auditing the Federal Reserve seems to focus on who they lent money to. But I'd be willing to bet that the REAL reason the FR never wants to be audited is because all that money has gone into the pockets of the owners/connected people .. as EXPENSES.

Only AFTER untold expenses are deducted is there a 6% dividend and payment to US Treasury.

What are those EXPENSES???

IMO ... the EXPENSES that the Federal Reserve is able to make IN COMPLETE PRIVACY ... is the ENTIRE PURPOSE FOR THE EXISTENCE OF THE FEDERAL RESERVE IN THE FIRST PLACE ... that, and creation/velocity of money enjoyed by the member banks and the entities near the inner circle.

Expenses like campaign financing.

Expenses like PR Firms, MSM advertising costs, teams of lawyers.

Expenses such as exorbitant employee salaries and benefits.

Expenses to pay teams of Congressional lobbyists.

Expenses for trains, planes and automobiles, buildings and maintenance.

Who are the federal Reserve members. The Comptroller of the currency of the US Treasury keeps the records. But it is easy to tell. What Corporations spare no expenses?

Goldman Sachs, JP Morgen, BOA, Pimco etc as well a many member of the MIC.

Shell, Mobil, Marathon, BP.

Krogers, Fry's, Ralphs, Food4 Less, Dillons, Food Co, King Soopers, Bakers, JayC etc.

Walmart, McDonald's, Harley Davidson, well anyone that goes to the Discount window as revealed by the recent audit.

All regulations target Main Street. All expenses are for Wall Street.

Congress has doomed us to Corporate control for their own benefit.

Free includes debt-free!

Virginia is sleeping. Santa's making a list. Checking it twice..

[Gaslights slowly return their ember to gently light the stage. Grandpa still rocks in his chair. The Norman Rockwell living room stage barely discernible in the background. Granpa raise his head & looks directly at you.] Gonna find out who's naughty & nice. You see Tommy...

Dear Tommy, Tommy Paine's Ma & Pa,

      A bed time story from the Fed. Once upon a time...

... their were established 12 little banks. Each had their own realm. Farther than your eyes could see.

Fed recent trends in pillage (start interactive chart @ year 2007).

Imagine for yourself & friends. You convince your pet Congress to back a line-of-credit with your promise they & their taxpayers will pay. Your friends go on a $16 trillion spending spree. They include your 500 or so congressional friends too. They even give you 6% right off the top to do as you please. In addition, though accounting irregularities, you amass $3 trillion to bolster your balance sheet. Confidence in you soars! Rumors of your demise be damned!

Footnotes @ bottom of Fed recent trends (previous link above):

  • *All Liquidity Facilities includes: Term Auction credit; primary credit; secondary credit; seasonal credit; Primary Dealer Credit Facility; Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility; Term Asset-Backed Securities Loan Facility; Commercial Paper Funding Facility; and central bank liquidity swaps.
  • **Support to Specific Institutions includes: Maiden Lane LLC; Maiden Lane II LLC; Maiden Lane III LLC; and support to AIG.
  • ***Support to AIG includes: credit extended to American International Group, and preferred interests in AIA Aurora LLC and ALICO Holdings LLC.

"Oh, What a Wonderful Life" Louis Armstrong. A tribute to your strong armed friends.

    see trees of green, red roses too
    I see them bloom for me and you
    And I think to myself what a wonderful world.

And with that Tommy, a good night. [Grandpa slowly rocks himself to sleep. Gaslights dim on the Norman Rockwell living room stage.]

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

LOL

"through accounting irregularities" ... "confidence in you soars!"

LOL, that's how it works.

Maiden Lane, LLC -- nice way to keep it all off the book, eh?

Last time I checked, when one company buys out another, or buys its assets, there is no need to create a SPV on the side to keep it off the books. According to SEC, it's supposed to be ON the books -- something that got Enron in trouble.

But FR has magic fairy dust to sprinkle on stuff so the laws don't apply, huh? Magic fairy dust ... bedtime stories ... all makes sense.

zzzzzzzzzzz

Maiden Lane is where the maids dump the toxic asset trash.

[Gaslights flicker on again. Snoring stops. Grandpa looks up a little & notices you stirring. Rocking chair jolts. Grandpa faces you with a with a sleepy expression.] Sorry to wake you. Must be my snoring.

NY Fed 'House of Horrors: Maiden Lane is the help entrance (maids, butlers, Haz-mat service...). The dumpsters are on Maiden Lane behind the NY Fed.

Who got your money? Depository Trust $2,000,000,000,000,000. $2 quadrillion days of Christmas.

And to all, a goodnight.

[Gaslights flicker out. Snoring starts up again.]

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Cyril's picture

I am sorry to be the bearer of bad news:

I am sorry to be the bearer of bad news:

Question: "Is the Federal Reserve Act going to expire?"

Conspicuously answered here:

http://www.federalreserve.gov/faqs/is-the-federal-reserve-ac...

However, Congress could decide otherwise. See "End The Fed", by Dr. Ron Paul.

We should start convincing them (Congress) now.

I am afraid it's not going to be a piece of cake.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Interesting ... the Federal Reserve LIES on their own website!

The statement posted on the FR's own website is a LIE.

See my post below. The original act DID say it expired after 20 years.

So, the FR saying it never had an expiration date is a LIE.

Section 31 DOES say that the act can be altered or amended.

*** BUT HAS IT BEEN? ***

Even the FR's own website does NOT cite such an act of Congress.

That's just plain weird.

They lie about the original expiration date, cite a clause allowing for altering or amending, but do NOT cite any legislation that would have alterated or amended the act AFTER it EXPIRED in 1933.

Cyril's picture

Well, yes, the lie... but also beyond

Well, whether they lie (very likely) or not doesn't matter that much:

the bottom line is they arrogantly display their intent to not go away any time soon.

But as Ron Paul wrote in his book, it would take no time and the mere stroke of a pen for Congress to discard these criminals once and for all.

The very problem is not only the absence of political will to do so, it is also that the same mostly useless, corrupt, and vastly harmful bunch of rent and bribe seekers called Congress doesn't even have the slightest clue of what "sound money" means.

Except for a tiny handful of them.

And THAT is the tough issue that'd need to be dealt with first, if we still find anything valid (read: legitimate) in this country's institutions - or remnants thereof - laid out by the Constitution.

Bear.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Yep.

I member one congress idiot asked recently, "You mean our currency is NOT backed by gold?"

The only one more clueless is that congress moron who was talking about the tsunamis in the Pacific and he was concerned that the island of Guam might capsize.

Bunch of damn geniuses there.

Cyril's picture

And the downvote bot(?) strikes again

And the downvote bot(?) strikes again below...

Hmm...

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Yep ... 20 Years, NOT 99 or 100 Years !!!

Section 4, Clause 2:
"To have succession for a period of twenty years from its
organization unless it is sooner dissolved by an Act of Congress, or
unless its franchise becomes forfeited by some violation of law."

Nothing at all in there about 99 years or 100 years. Where did those numbers come from?

Also, is there any record the Federal Reserve Act was continued AFTER 1933?

Other than the 20 year option, it seems to be open ended

Perpetual, but at the discretion of Congress.

In 1913 Congress sold US down the river.

It is my belief that FDR confiscated gold to pay the 6% Congress promised Federal Reserve members.

My guess is that members threatened to take the exit option offered at 20 years if Congress reneged (Probably an empty threat). But it was enough to bring terror to a progressive like FDR who longed to implement Marx's 10 Planks of tyranny. Of course, the progressives thought Marx was giving a recipe for an ideal government. It was instead a trap to insure a government so tyrannical that the oppressed would rise in violent revolution.

What Machiavelli had done to Princely powers, Marx did for democracies.

Rep Louis McFadden read into the Congressional record that the Federal Reserve was a fraudulent organization having absconded with enough funds to repay the nation debt twice.

A full Audit full audit of the US Treasury would be revealing.

Free includes debt-free!

We got into this a year ago on a FB group

My contention was that in 1913, it was illegal at the federal level and in a majority of states for any contract to have a duration of more than 99 years. Therefore, the 99 year FR charter should have ended on 12-23-12, but since that was a Sunday, it would have ended on 12-21-12 or the famous Mayan date.

The group had a number of member research it and the consensus (sorry but I don't have the sources anymore) was that in 1933, their charter was ending and FDR and/or Congress made it an unending or open ended charter.

I was rather bummed because I had laid out this elaborate prediction that RP voters would have a massive legal battle going on all the election fraud which would take a week to organize, a month to settle and a week to rally the national protests. This meant that on that day, we would have massive protests for that, massive protests to stop any secret re-chartering of the FR and together, they would cause the dollar to drop. As you might guess, this, I claimed, might set off the food and oil shortages that we've been 3 days removed from and all of it would break loose.

Yeah, I'm still a little bummed out.

"How to kill a mocking bank!" Andrew Jackson, President 1829-37



    Andrew Jackson killed the Second National Bank



      President March 4, 1829 – March 4, 1837



        $$$ Made in USA $$$



Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Andrew Jackson killed the Second Bank.


    Andrew Jackson killed the Second National Bank



        Rest In Peace
        1816 $ 1836


      ♜♞♝♚♛♝♞♜♜♞♝♚♛♝♞♜


        Second National Bank
        $$$ Made in USA $$$



Eulogy: A Second Try Fails. By 1816 the political climate was again [pretended to be] in favor of a central bank; by a narrow margin [w/ large margin of error], Congress agreed to charter the Second Bank of the United States. But when Andrew Jackson, a central bank foe, was elected president in 1828, [Old Hickory] vowed to kill it. His attack on its banker-controlled power touched a popular nerve with Americans, and when the Second Bank’s charter expired in 1836, it was not renewed. That is it gasped... It expired.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

"I Killed the Second Bank of the United States!" -Andrew Jackson

          President Andrew Jackson

        Terms: March 4, 1829 – March 4, 1837

          Nickname: Old Hickory

President Andrew Jackson railed against the Second National bank from the outset of his presidency until he dissolved it. "I Killed the Second Bank of the United States!" Andrew Jackson

        "You are a den of vipers."

How Andrew Jackson Killed the Second Bank of the United States

"Gentlemen! I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country.

When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin!

Should I let you go on, you will ruin fifty thousand families, and that would be my sin! ---- You are a den of vipers and thieves. I have determined to rout you out, and by the Eternal, (bringing his fist down on the table) I will rout you out." ----

From the original minutes of the Philadelphia bankers [delegation] sent to meet with President Jackson February 1834. Andrew Jackson and the Bank of the United States (1928) by Stan V. Henkels

How Andrew Jackson Killed the Second Bank of the United States

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul