🚀 go-pugleaf

Ah, the moron comes back with a Wikipedia cite.
"Tom P" <nospam@nospam.com> wrote in message 
news:IpeRi.9838$BT5.8208@newsfe18.lga...
> Paul Maffia wrote:
>> "Tom P" <nospam@nospam.com> wrote in message 
>> news:vrbRi.19034$UN.2765@newsfe24.lga...
>>
>>>
>>> I thought you knew something but all you are doing is naval gazing.
>>
>>
>> And you proceed top prove you know nothing about the subject.
>>
>>> The origional post pointed out that the Federal Reserve is privately 
>>> owned
>>
>>
>> The Federal Reserve is not privately owned. Never was, is not now, nor 
>> will it ev er be.
>>
>
>
>  The Federal Reserve System, created in 1913, is a private banking system 
> composed of (1) the presidentially-appointed Board of Governors of the 
> Federal Reserve System in Washington, D.C.; (2) the Federal Open Market 
> Committee; (3) 12 regional Federal Reserve Banks located in major cities 
> throughout the nation acting as fiscal agents for the U.S. Treasury, each 
> with its own nine-member board of directors; (4) numerous private U.S. 
> member banks, which subscribe to required amounts of non-transferable 
> stock in their regional Federal Reserve Banks; and (5) various advisory 
> councils.
>
> http://en.wikipedia.org/wiki/Federal_Reserve_System
>

Unfortunately, wikipedia is incorrect when it says, "...   is a private 
banking system ... ."
To be accurate it should have said that the System is a quasi Government and 
quasi private banking system. That means it is a combination of both. Read 
the law, moron!

Of course, since you have no functional knowledge of The Fed, you have no 
basis to judge if the wikipedia article is correct or not.

I notice you did not bother to  read what I wrote below and answer the 
questions. Of course, if you could read and understand English and had 
actually understood what I wrote you would not sit on your ass a cite a 
source that makes an incorrect statement.

You are a moron!
>>> and the owners of that organization is responsible for the economic 
>>> welfare of the country. That is a scary thought to think that the US 
>>> economy is guided by those individuals. Whatever happened to "We the 
>>> people"?
>>
>>
>> Let me ask you a simple question.
>>
>> I come to you and ask you to invest in a new company called "A". But you 
>> can only buy stock, in a quantity and at a price I set. And if you ever 
>> want to sell that stock, you have to sell it back only to me at the same 
>> price you paid for it. Not a penny more, not a penny less. No one else 
>> can buy that stock from you no matter how much they might be willing to 
>> pay.
>>
>> By buying this stock, you are now allowed to conduct a specified type of 
>> business, and unless you buy this stock you cannot indulge in that 
>> business. In addition, you get to vote on who the Directors of Company 
>> "A" are.
>> Unlike Directors of other companies, Company "A" are only able to act in 
>> accordance with the Decisions, and rules set down by a Board, I appoint 
>> with no input from you and your fellow stockholders.
>>
>> Like most Companies, your Directors can, assuming "A" operates at a 
>> profit, declare or not declare a dividend payable to you the 
>> stockholders. But if they do, it can never exceed a sum equal to 6% of 
>> the value of your stock no matter how profitable the company may have 
>> been that year. And any profit they don't need to keep to operate the 
>> business they must pay to me EVEN IF THEY DID NOT PAY YOU A PENNY.
>>
>> 1) Would you make the investment?
>> 2) Would you consider yourself to really be an owner of this company 
>> whose stock you own?
>> 3) Who do you think really owns Company "A"
>>
>> The scary part is not that the Federal Reserve System has a lot to say in 
>> what happens to the economy of this country, but that morons like you 
>> have no clue what the Fed is, how it operates, or who ultimately owns and 
>> controls it . Yet, despite this total lack of functional knowledge, you 
>> spew moronic nonsense as if it were fact.