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Dennis Kucinich- Federal Reserve, No More Federal Than Federal Express! 01-09-09

Ohio Congressman Dennis Kucinich calling for an end to the Federal Reserve and restoring sound monetary policy

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Lew Rockwell on the Federal Reserve

"Populists generally believe that what's wrong with the Federal Reserve is that it's private--it's by the way not private."
- from 26:05 mark of 9.25.08 interview on Antiwar Radio

That's a common myth

The Federal Reserve is a government entity. If it was private, then the Federal Reserve Act of 1913 wouldn't have been necessary.

As well, Kucinich is a monetary socialist. He wants government to control the money supply. He just wants it controlled by the Treasury instead of the central bank. Stupid.

No government oversight means not a government agency

There are no entities within our government that are immune from oversight. Since there is no oversight of the Federal Reserve they don't consider themselves a part of the government. It's on their end not ours. They are a corporation with authority to coin money. They are not a government agency.

It's a corporation?

Please provide proof. Do they pay tax corporate income taxes to the government like all corporations must do?

"They are not a government agency."

Then why was the Federal Reserve Act required in 1913? If it was just another private bank (like Merrill Lynch) then that wouldn't have been required.

no, it would have been

no, it would have been necessary because it shifted the power to print/coin money from Congress to the FED. It is privately owned though... they have their board of governors, none of whom are elected or appointed.

OK, if it is privately owned...

which I used to believe btw...what specifically do the private banks own? The buildings + land? Something else?

They own everything

including you atrickplay.

Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine

The R3volution requires action, not observation!!!!