If the Federal Reserve is such a corrupt entity, why is it allowed to control the U.S. money supply?

Proof that the Federal Reserve is privately owned

The Federal Reserve isnu2019t corrupt.

It also isnu2019t federal and it doesnu2019t oversee a reserve.

,Congress is tasked with currency supply in the US per the constitution.

Way back about a hundred years ago Congress decided that a private cartel of bankers would handle the currency in their stead.

,This was done over Christmas and very few congressmen were there to vote.

But the Federal Reserve was created, personal income tax began, and everyone had to turn in their gold.

There was no buying and selling of gold for sixty years.

,The Federal Reserve loans money to banks by printing money.

It also allows banks to loan out more than they are worth.

Itu2019s called fractional reserve banking.

Essentially banks loan out ten dollars but only have a dollar.

They then charge interest on the loan, so itu2019s a good deal, well for banks.

For Americans it means that all money is debt.

,Congress couldu2019ve printed the money.

Loaned it to bankers at no interest and restrict them to only loan out what they had.

Congress didnu2019t have time for all that so the Fed get to do what it wants.

Basically little to no oversight by Congress, again theyre busy HELLO!,Gold was embargoed in 1914 no one could own more than an ounce.

The Fed was to collect enough so at the end of the sixty years every US dollar would be backed by gold.

You could exchange paper money for gold.

,In 1974 gold was again bought and sold and everyone could own as much as they wanted.

This was when big gold chains and jewelry was again possible to buy, the rebirth of bling.

,France and England had been collecting US paper money.

You know Americans went to France and England, tourist exchange US Dollars for Pounds and Francs.

So they had tons of US paper money.

,When the US was gold backed France and England showed up with pallets of cash wanting to trade for gold.

If they were allowed our gold reserves wouldu2019ve been drained so the President, Richard Nixon took us off the gold standard in a day.

,What the Federal Reserve was to do, it didnu2019t, not itu2019s fault.

Who are the cartel of private bankers running our money printing presses? Thatu2019s a secret you donu2019t need to worry about.

Nor should you consider if itu2019s the best way to stimulate, curb and control the economy.

Those arenu2019t questions most can answer, silly, donu2019t be ridiculous.

Youu2019re going to get a headache thinking about it.

So Dont.

The Fed is great.

So great it created things that are fail proof because of their size.

Who knew anything could get too big to fail.

Praise the Fed.

rothschild federal reserve - wikipedia

No.

The surprising answer is the Federal Reserve is owned by its member banks.

They in turn are owned by a wide variety of people.

Who owns the central banks

The worlds respective finance departments, as far as I know.

There should always be some tension to the claim that central banks are independent since the finance minister typically appoints the governor.

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Who controls the Federal Reserve

I donu2019t have time to watch your video at the moment, so Iu2019ll reserve commentary on that for later.

To answer the question directly: no.

The Federal Reserve is not a u2018fraudu2019 of any kind, and not being a fraud it could not place anywhere on the u2018greatest fraudu2019 scale.

,For some reason that I havenu2019t yet been able to suss out, there is a very active and malignant sect of libertarianism that believes that the Federal Reserve is a great evil and restraint on freedom.

These invididuals mostly have gotten this idea from people like Sen.

Rand Paul and his father, who have written extensively on the need to u2018rein in the Fed.

u2019 A very common u2018battle cryu2019 of these folks is u201cAudit the Fed.

u201d This seems to be a very sensible thing to do (after all, banks, tax returns, corporations are all audited independently by outside auditors), and the implication of the statement is that the spooky, mysterious Fed currently isnu2019t being audited - which seems a very dangerous situation.

,Thereu2019s a catch.

The Fed is already being audited.

Every year.

Independently.

I have actually sent this link to friends who have tried to tell me we need to u2018audit the fedu2019 - and their very befuddled reaction is to me telling.

,The issue isnu2019t that the Fed is a spooky actor.

The issue is that many voters are u2018governmentally illiterate.

u2019 Far from being mistaken about it, these folks simply havenu2019t taken the time to sit down and actually study the way the government works before forming a conclusion about it.

The Fedu2019s processes and actions are publicly known.

They report on their transactions and balances on a regular basis.

One need only invest the time and energy in doing so.

,Iu2019m not an economist.

Out of personal curiosity, however, I have undertaken to understand as much about our economy and financial system as I can.

And Iu2019ve never read anything that has led me to believe that the Fed is anything but a legitimate, and necessary institution of the financial system.

Who funds the Federal Reserve

The Federal Reserve is the one US entity that is capable of creating new money simply by fiat.

It has no need for u201cfundingu201d.

If it wants money, it simply makes it.