- Wikipedia: Federal Reserve System (FED)
- Wikipedia: Federal Reserve Act
- Wikipedia: History of the Federal Reserve System
- Wikipedia: Constitution of the United State
The third President of the United States, Thomas Jefferson wrote then: “I think banking institutions are more dangerous than standing armies”.
The FED is a private Institution, whose owners are not disclosed. It can be assumed that at least the families of the founding Banks, Morgans, Rockefellers, Warburgs, and some others, are major shareholders. The owner of FED is the US MoneyMonarchy.
The FED (the MoneyMonarchy) decides what money system is used. Gold standard, partial gold standard, gold coins, or plain fiat money. Only the FED is allowed to produce dollars out of mowhere (fiat money). The FED decides how much money is in circulation and for how much interest rates commercial banks can borrow.
For the money that commercial banks borrow from FED, they get the license to create 10 times as much money on accounts to borrow to their customers. It is the license to create money.
In order to strengthen the relationship with politics and to encourage the public to think that FED would be a public institution, it was agreed that the US Minister of Finance would hold the chairmanship of the FED and that it would be called the Federal Reserve, which fake federal property and fake a reserve.
With the establishment of the FED, a pact between political elite and the US MoneyMonarchy was established. The MoneyMonarchy determines the strategies of the FED, i.e. how much money comes into circulation and at what interest rate it is given to the commercial banks.
For the amount of printed money, the FED buys government bonds in the corresponding face value. Government bonds are just a piece of paper.
The Federal Reserve System was created by the Congress of the United States, in order to establish a “Central banking system, the national financial system with flexibility and strength. The federal act was passed on 18 June 2012. The Senate voted by the Congress on 19 September 1913 with 287 votes to 85; the Senate voted after several hearings on 19 September 1913. As of December 31, 1913, 54 to 34 also agree.
Although the political elite had made a huge gift to MoneyMonarchy with the FED, it also demanded from the americans state taxes for the money they create.
The polictical elite therefore introduced income tax. At the same time, the foundation law was introduced so that rich people could circumvent income tax.
FED leaders are appointed by the US President. However, he is bound to a list of people he receives from the FED.