Dr. Housing Bubble 02/02/09

[Crewleader]

The New Ownership Society: Federal Reserve Bank, U.S. Treasury, and the FDIC - FYI,
We Already Own More Than you Think.

If you are expecting a miracle from Davos Switzerland, think again. All we are seeing is bread and circuses while Putin tells Michael Dell to basically shove it and other countries using the economic forum to dish out political discourse. The last post discussing the paradox of thrift generated a lot of commentary on both sides. I am still stunned at how many people actually still believe that we live in a purely free-market capitalistic system. We do not. Many people simply assume that the Federal Reserve System because it has the word “Federal” means that it is owned by the people, it is not. The Federal Reserve also known as the Fed is the central bank of the United States and has been a key partner in this global credit crisis. The Fed was brought to our country in 1913 by the Federal Reserve Act. The Fed is a quasi-public entity with private components.

This may stun many people since many think that the Fed is completely independent from the banking powers of the country but it is not. Yet the way they interact with our government, it gives the impression that they are fully part of the government. The Fed breaks down as follows:

(1) Board of Governors in Washington D.C.

(2) Federal Open Market Committee

(3) 12 regional Federal Reserve Banks

(4) Numerous U.S. private banks

(5) Advisory Councils

Federal Reserve Regions



http://www.doctorhousingbubble.com/treasury-federal-reserve-banking-money-structure-bailout-tarp/

[terisan]

1. Cuts to the chase!