A Study of Corporate and Banking Influence Published Chart 1 reveals the linear connection between the Rothschilds and the Bank of England, and the London banking houses which ultimately control the Federal Reserve Banks through their stockholdings of bank stock and their subsidiary firms in New York. The two principal Rothschild representatives in New York, J. In a few families blood or business related owning controlling stock in existing banks such as in New York City caused those banks to purchase controlling shares in the Federal Reserve regional banks.
Bloomberg Paper money, too, is the responsibility of the Federal Reserve. At one time, the Federal Reserve Banks were legally required to keep large stockpiles of gold in reserve to back up these notes, but that requirement was abandoned and today the notes are backed up mostly by government securities.
But I do have one question: The Federal Reserve does not own any gold at all. We have not owned gold since so we have not engaged in any gold swaps.
But it appears on your balance sheet that you hold gold. What appears on our balance sheet is gold certificates.
When we turned in…beforewe did…the Federal Reserve did own gold. We turned that over by law to the Treasury and received in return for that gold certificates.
No, we have no interest in the gold that is owned by the Treasury. House Financial Services Subcommittee Hearings Clearly, there is a discrepancy between what we are led to believe is motivating the Fed and what it actually does.
This system codifies, institutionalizes, oversees, and undergirds a form of banking called fractional reserve banking, in which banks are allowed to lend out more money than they actually have in their vaults.
And what that really means is that as the banking institution developed over several centuries, starting of course in Europe, it developed a practice of legalizing a certain dishonest accounting procedure. In other words, in the very, very beginning if you want to go all the way backpeople would bring their gold or silver to the banks for safekeeping.
Then, instead of changing or exchanging the gold coins, they could exchange the receipts, and people would accept the receipts just as well as the gold, knowing that they could get gold. And so these paper receipts being circulated were in essence the very first examples of paper money.
Well, the banks learned early on in that game that here they were sitting on this pile of gold and all these paper receipts out there.
So we can create more receipts for gold then we have. No one ever questions the integrity of it or the ethics of it. So it all starts with this concept of fractional reserve banking. The trouble with that is that it works most of the time.
But every once and a while there are a few ripples that come along that are a little bit bigger than the other ripples. Maybe one of them is a wave. And more than seven percent will come in and ask for their gold. Maybe twenty percent or thirty percent. And well, now the banks are embarrassed because the fraud is exposed.
Banks are embarrassed, people lose their savings. You have these terrible banking crashes that were ricocheting all over the world prior to this time. And that is what caused the concern of the American people. They wanted to put a stop to that.
And that was the whole purpose, supposedly, of the Federal Reserve System. Was to put a stop to that. But since the people who designed the plan to put a stop to it were the very ones who were doing it in the first place, you cannot be surprised that their solution was not a very good one so far as the American people were concerned.
Their solution was to expand it. Not to control it, to expand it. See, prior to that time, this little game of fractional reserve banking was localized at the state level. Each state was doing its own little fractional reserve banking system.
Each state, in essence, had its own Federal Reserve. Central banks were authorized by state law to do this sort of thing. And that was causing all this problem. The answer to this question, too, has been deliberately obscured. The Federal Reserve System is a deliberately confusing mishmash of public and private interests, reserve banks, boards and committees, centralized in Washington and spread out across the United States.
The twelve regional banks—the most influential of which is the Federal Reserve Bank of New York, which is essentially based in Wall Street to represent Wall Street—is a representative of the major Wall Street banks who own shares in the private, not federal, but private Federal Reserve Bank of New York.
All of the other regional banks are also private banks.The Meeting at Jekyll Island November 20, –November 30, A secret gathering at a secluded island off the coast of Georgia in laid the foundations for the Federal Reserve System.
The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
On June 4, , a virtually unknown Presidential decree, Executive Order , was signed with the authority to basically strip the Bank of its power to loan money to the United States Federal Government at caninariojana.com the stroke of a pen, President Kennedy declared that the privately owned Federal Reserve Bank would soon be out of business.
In , the Community Affairs Offices of the Federal Reserve System partnered with the Brookings Institution to examine the issue of concentrated poverty.
The resulting report, The Enduring Challenge of Concentrated Poverty in America: Case Studies from Communities Across the U.S., profiles 16 high-poverty communities from across the country. Welcome to WRDS! Wharton Research Data Services (WRDS) is the award-winning research platform and business intelligence tool for over 40,+ corporate, academic, government and nonprofit clients at over + institutions in 30+ countries.
Course Summary Political Science American Government has been evaluated and recommended for 3 semester hours and may be transferred to over 2, colleges and universities.