After bail outs . . . where are the remedies . . . ??????

[defendandprotect]

It all happened at once:

* The US was railroaded into taking
the side of Britain in WW I

* The draft was instituted

* Federal taxation of work people's
incomes began

* US citizens began to be conditioned
to invest their money in Wall Street
creations instead of local enterprises...
and

* The so-called Federal Reserve, a
consortium of PRIVATELY owned banks
that was given complete control over
the country's money supply, was
created.

For the first time in many decades,
a US Congressman is calling for the
Fed to be taken back by the US
government.

Details:


http://www.brasschecktv.com/page/580.html


Where are the calls for RE-REGULATION of capitalism . . . ???

[HamdenRice]

1. Uh,... the Fed is not "a consortium of PRIVATELY owned banks"

This is a bizarre libertarian talking point, and it's unfortunate that Dennis who I admire greatly bought into it.

[defendandprotect]

2. Court Rules: Federal Reserve is a Private Financial Institution

Court Rules Federal Reserve is Privately Owned
Case Reveals Fed's Status as a Private Institution


--------------------------------------------------------------------------------

Below are excerpts from a court case proving the Federal Reserve system's status. As you will see, the court ruled that the Federal Reserve Banks are "independent, privately owned and locally controlled corporations", and there is not sufficient "federal government control over 'detailed physical performance' and 'day to day operation'" of the Federal Reserve Bank for it to be considered a federal agency:


Lewis v. United States, 680 F.2d 1239 (1982)
John L. Lewis, Plaintiff/Appellant,
v.
United States of America, Defendant/Appellee.
No. 80-5905
United States Court of Appeals, Ninth Circuit.
Submitted March 2, 1982.
Decided April 19, 1982.
As Amended June 24, 1982.

Plaintiff, who was injured by vehicle owned and operated by a federal reserve bank, brought action alleging jurisdiction under the Federal Tort Claims Act. The United States District Court for the Central District of California, David W. Williams, J., dismissed holding that federal reserve bank was not a federal agency within meaning of Act and that the court therefore lacked subject-matter jurisdiction. Appeal was taken. The Court of Appeals, Poole, Circuit Judge, held that federal reserve banks are not federal instrumentalities for purposes of the Act, but are independent, privately owned and locally controlled corporations.

Affirmed.

1. United States

There are no sharp criteria for determining whether an entity is a federal agency within meaning of the Federal Tort Claims Act, but critical factor is existence of federal government control over "detailed physical performance" and "day to day operation" of an entity. . . .

2. United States

Federal reserve banks are not federal instrumentalities for purposes of a Federal Tort Claims Act, but are independent, privately owned and locally controlled corporations in light of fact that direct supervision and control of each bank is exercised by board of directors, federal reserve banks, though heavily regulated, are locally controlled by their member banks, banks are listed neither as "wholly owned" government corporations nor as "mixed ownership" corporations; federal reserve banks receive no appropriated funds from Congress and the banks are empowered to sue and be sued in their own names. . . .

MORE . . .
http://www.globalresearch.ca/index.php?context=va&aid=8518


PS: I'd also recommend Wm. Greider's book on the Federal Reserve . . . "Secrets of the Temple"

and I'm sure your library has a copy!