Comment: According to Federal Reserve Act of 1913

(See in situ)

In reply to comment: LINKS. (see in situ)

According to Federal Reserve Act of 1913

According to law the Comptroller of the Currency at the Department of Treasury keeps a list of paid in members and stock issued. http://www.llsdc.org/attachments/files/105/FRA-LH-PL63-43.pdf

Section 13 Paragraph 3
"The amount of acceptances so discounted shall at no time exceed ono-half the paid-up capital stock
and surplus of the bank for which the rediscounts are made."

Members have access to the Discount window. The recent audit listed companies that accessed the discount window, including PIMCO, Harley Davidson and McDonalds and others.

Likewise the Bailouts, so-called are part of the 1913 Act. "Sec. 7. After all necessary expenses of a Federal reserve bank have been paid or provided for, the stockholders shall be entitled to receive an annual dividend of six per centum on the paid-in capital stock."

Congress helps the Federal Reserve members prosper because, "After the aforesaid dividend claims have been fully met, all the net earnings shall be paid to the United States as a franchise tax."

In other words Congress aids and abets the 1% in their fleecing of the 99%.

Congress protects it franchisees at the expense of the taxpayers. Congress is the problem, but we keep sending the same bums back every two years. We get what we asked for.

Free includes debt-free!