JeffreyNV

Witnessing the Biggest Transfer of Wealth in History

Ben Bernanke should resign, and the Fed should be abolished. This would be one path to boost the falling dollar and speed up the recovery of the U.S. economy. I do agree that it appears that the Federal Reserve is actively involved in restructuring the ownership of distressed assets to it's member banks, while laying the associated liabilities at the feet of the American taxpayers. It's amazing that Bernancke & Co., all being un-elected officials, could even remotely be empowered to shift nearly $5 trillion in liabilities to the National Debt of Government of the United States. The Fed's activities of late are clearly not that of a Central banker, but more that of a modern day con man.

Who owns the Federal Reserve?

For the "Party Line", see:

www.federalreserve.gov...

and i quote...

"..... the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year...."

Now consider this and ponder:

J.P. Morgan is a "member" (stockholder) of the Federal Reserve.

Interesting that J.P. Morgan became the owner of Bear Sterns assets courtesy of the B.S. (no pun intended) bailout?

Now consider Fanny, Freddie, Lehman et al., watch and be amazed as the Fed magic act continues. Presidential or Congressional oversight? None.

As a point of fact, since Woodrow Wilson's term and the subsequent formation of the Federal Reserve, one U.S. President actively considered dismantling the Fed. His name was John F. Kennedy. Eleven days after crafting a memorandum for eliminating the Federal Reserve, the Kennedy assassination was perpetrated. A coincidence? Draw your conclusions accordingly.