Can the Federal Reserve be sold?
Submitted by Truth-In-Motion on Thu, 03/26/2009 - 11:59
in
I was wondering if it were possible for the Federal Reserve to be sold to another organization?
If for instance if the US were to go "Bankrupt" could the Federal Reserve sell it's "US receivables" to say the IMF or some Global Banking conglomerate? Being that the debt is so large what options would America have?
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For an intriguing question
Dr. Rothbard discussed the
Dr. Rothbard discussed the process of dissolving the Federal Reserve in the Case Against the Fed, which if I remember correctly, involves using the gold owned by the Fed, which is it's only real asset, to pay off all of it's liabilities. Back when he wrote the book, that means that gold would need to be re-valued at $1555 per ounce. I can't imagine what the figure is now.
Bump
FREEDOM
"First they ignore you, then they laugh at you, then they attack you, then you win!"
GANDHI
Sure sell it but make sure the buyer takes out
a performance contract from AIG
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"The consolidation of the states into one vast republic, sure to be aggressive abroad and despotic at home, will be the certain precursor of the ruin which has overwhelmed all those that have preceded it."
- Robert E. Lee, 1866
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RON PAUL 2012
It's a violation of the R.I.C.O. act
engaging, selling or buying businesses that are corrupt is illegal.
http://www.ricoact.com/ricoact/nutshell.asp#constitutes
ha ha
nice jab
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Some other thoughts
At the bottom are 2 links to give you some other information about the Federal Reserve.
This was posted on a forum:
The Federal Reserve System is run by the Board of Governors. --> There are no shares and absolutely no mechanism for private ownership at this level. <-- Board members are appointed by the prez and confirmed by congress. Board members are also forbiddent to have a financial stake in any bank or other financial institution. Congress is charged with oversight of the system (though at a high level).
The law is set up where shares can only be owned by member banks within the Federal Reserve branches. But these are not your typical corporate shares that entitle legal ownership. Rather, they bestow participation rights within the branch. Regardless the number of shares they own, each bank gets only one vote toward the branch Board of Directors who actually run the place. Only member domestic banks can own shares. No individuals or foreign entities.
The shares also do not entitle the bank to any profits of the branch bank. The shares do receive a standard 6% dividend. Otherwise, all Fed profit is turned over to the U.S. Treasury at the end of the year.
So who are the top shareholders. Since the law stipulates that the number of shares must be in proportion to the bank size, just look at the 10 biggest banks for the answer.
The top 3 shareholders ar:
1. Bank of America
2. Morgan Chase
3. Citibank
Largest shareholders:
http://www.federalreserve.gov/releases/lbr/current/
Other federal reserve research:
http://www.federalreserve.gov/econresdata/releases/statistic...
Detective Krum Investigates:
http://victory1project.wordpress.com/
http://v1-p.com/
Detective Krum Investigates:
http://victory1project.wordpress.com/
I can't remember
but I read somewhere that there is a provision that treasury can buy back the federal reserve for 500 dollars or something to that effect.
i don't know the details, and i don't know the dollar amount. anybody else hear something like this?
It is actually congress and the amount is 450 million and I have
also read where congress can amend the federal reserve act as well. I have not personally verified this so take it as you may.
thanks for the key words
I found an article:
CAN WE BUY BACK THE FED FOR 450 MILLION?
http://blearc.newsvine.com/_news/2009/02/11/2422279-can-we-b...
The U.S. Congress has the option to buy back the FED at $450 million (per Congressional Records). If the Congress does this, it will own back the billions of U.S. Government Bonds held by the FED. The U.S. Government will actually profit by buying back the FED; and the U.S. government would no longer have to pay interests to the FED owners on those bonds.
http://vincentgioiasblog.blogspot.com/2008/12/federal-reserv...
Not in the usual sense
I don't think the Federal Reserve could be sold, because no one owns it. Could OPEC be sold? Besides, a fair audit of the Fed would show it's bankrupt too. All those toxic assets that it's been slurping up could not be liquidated for anywhere near the loan values on them. That's why the Fed took them to begin with.
Audit the Fed!
It's owned
No doubt.
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Nice Vid Octobox
As a corporation (even if a secret one) corporations are sold all the time and yes, they could be sold to foreigners. But if Americans allow foreigners to completely take over our country it will be like England and the American Revolution.
Detective Krum Investigates:
http://victory1project.wordpress.com/
http://v1-p.com/
Detective Krum Investigates:
http://victory1project.wordpress.com/
Ron Paul Breaks it down in this Great Video on Fed Reserve
http://www.peacefreedomprosperity.com/?p=627
No need to wonder just wander over to RP's lemon-truth stand (5 cents a glass) -- smile. That was dorky.
Octobox
*&^ Constitution --- Constitutional Rationality
Thx for posting that Octo
That was a great explanation. He gently debunks the notion that it is a "private corporation".
The Fed is a government entity!
no its not a Government Entity!
He said its WORSE than just a private corporation, its a private corporation with government powers.
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Well,
I think you're part right. He did say that it is worse than a private corporation.
But he did not say that it is a private corporation.
The reason that i is not a private corporation because the assets that the FED owns are part of the government's balance sheet. So, it's not "privately owned".
I don't know if it can be sold, but I can clearly see that
Congress and the Presidency are for sale, and many times have entered into transactions with special interests for mutual financial gain.
"The deepest sin against the human mind is to believe things without evidence." Thomas H. Huxley
Sure
Just find the owners and ask them. It's more valuable as an enslavement tool than a bank.
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Find the owners?
Well 1st off what does the Federal Reserve own? Primarily just a bunch of Treasury debt. And that is owned on the government balance sheet. Thus, it can be said that it is the government that owns it.
here they are, ask away
Who owns the FED? The Rothschilds of London and Berlin; Lazard Brothers of Paris; Israel Moses Seif of Italy; Kuhn, Loeb and Warburg of Germany; and the Lehman Brothers, Goldman, Sachs and the Rockefeller families of New York.
http://www.petitiononline.com/fedres/petition.html
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Waterboard the banksters!
RonPaulLincoln
RonPaulLincoln
OK, when you say that those bankers + banking
families own the Federal Reserve...which specific assets are you referring to?
The biggest asset is the treasury debt. It is owned by the government...so is there some other asset that you are referring to?
The Federal Reserve owns primarily...
Treasury debt I believe.
They have also started buying bank debt/stocks I believe in the last year.
So, yes those are assets that could technically be sold.
And lawful money too
From the horse's mouth http://www.federalreserve.gov/aboutthefed/section16.htm
7. Custody of Reserve Notes, Gold Certificates, and Lawful Money
All Federal Reserve notes and all gold certificates, Special Drawing Right certificates, and lawful money issued to or deposited with any Federal Reserve agent under the provisions of the Federal Reserve Act shall hereafter be held for such agent, under such rules and regulations as the Board of Governors of the Federal Reserve System may prescribe, in the joint custody of himself and the Federal Reserve bank to which he is accredited. Such agent and such Federal Reserve bank shall be jointly liable for the safekeeping of such Federal Reserve notes, gold certificates, Special Drawing Right certificates, and lawful money. Nothing herein contained, however, shall be construed to prohibit a Federal Reserve agent from depositing gold certificates and Special Drawing Right certificates with the Board of Governors of the Federal Reserve System, to be held by such Board subject to his order, or with the Treasurer of the United States for the purposes authorized by law.