Why do conspiracy theorists and libertarians hate the Federal Reserve so much? (loans, tier)

[Reynard32]

It hasn't helped previously.

[lieqiang]

Originally Posted by John7777

Well, I got an A in all my economics classes. I think you need to step back and look at the big picture.

So that is how this works? Your post get debunked point by point but instead of constructing a counter argument you just whip out your college transcript?

[2e1m5a]

Originally Posted by LeavingMA

Not sure why the title of the post believes that people who don't believe in central planning by the government and centralized type planning with our monetary policy by the Federal Reserve would be considered conspiracy theorists.

The main reason I don't care for the Federal Reserve and many of our government policies is because they like to try and control the free market. They think they can make a better free market and always think they have the answers.

Yet that won't stop some from calling names and being insulting in general.

[Reynard32]

Extrapolated notions based on counter-factual assumptions will almost always raise a red flag among the feet-on-the-ground crowd.

[slowdude222]

Originally Posted by Du Pont

Out of those only JP Morgan was a large bank back then. The others were small or regional at that time. Hard to blame small banks for some secret conspiracy.

Sen. Barry Goldwater wrote in his book With No Apologies: "Does it not seem strange to you that these men just happened to be CFR (Council on Foreign Relations) and just happened to be on the Board of Governors of the Federal Reserve, that absolutely controls the money and interest rates of this great country. A privately owned organization ... which has absolutely nothing to do with the United States of America !"

Plain and simple, the Federal Reserve is not part of the Federal Government. It is a privately held corporation owned by stockholders. That is why the Federal Reserve Bank of New York (and all the others) is listed in the Dun and Bradstreet Reference Book of American Business (Northeast, Region 1, Manhattan/Bronx). According to Article I, Section 8 of the U.S. Constitution, only Congress has the right to issue money and regulate its value, so it is illegal for private interests to do so. Yet, it happened, and because of a provision in the Act, the 'Class A' stockholders were to be kept a secret and not to be revealed. R. F. McMaster, who published a newsletter called The Reaper, through his Swiss and Saudi Arabian contacts, was able to find out which banks held a controlling interest in the Reserve.

These interests control the Federal Reserve through about 300 stockholders:

* Rothschild Banks of London and Berlin
* Lazard Brothers Bank of Paris
* Israel Moses Seif Bank of Italy
* Warburg Bank of Hamburg and Amsterdam
* Lehman Brothers Bank of New York
* Kuhn, Loeb and Co. of New York
* Chase Manhattan Bank of New York
* Goldman, Sachs of New York
Because of the way the Reserve was organized, whoever controls the Federal Reserve Bank of New York controls the system, About 90 of the 100 largest banks are in this district.
Of the reportedly 203,053 shares of the New York bank:

* Rockefeller's National City Bank had 30,000 shares
* Morgan's First National Bank had 15,000 shares
* Chase National Bank had 6,000 shares
* National Bank of Commerce (Morgan Guaranty Trust) had 21,000 shares.
A June 15, 1978 Senate Report called "Interlocking Directorates Among the Major U.S. Corporations" revealed that five New York banks had 470 interlocking directorates with 130 major U.S. corporations:

* Citicorp (97)
* J.P. Morgan Co. (99)
* Chase Manhattan (89)
* Manufacturers Hanover (89)
* Chemical Bank (96)

[richrf]

Some quotes from David Malpass' op-ed in the WSJ today:
The Federal Reserve Pulls a Lucy - WSJ

"Persistent near-zero interest rates punish savers and hurt income growth for average U.S. households."

"New census data this week showed that real median incomes are still falling, down 1.5% in 2014 from 2013. It's a terrible setback for the middle class this far into a recovery, and the Fed should be urgently rethinking it's policy."

"The theory of zero rates and giant Fed bondholdings works for the government, big bond issuers and the upper crust, but hurts lenders, savers, and the broader economy."

"Borrowing conditions are easy for the top 1%, but .... the net result is contactionary."

Now, the Fed knows this as much as everyone else who understands economics. The only conclusion a reasonable person can reach is the Fed is purposefully pursuing its policies which are accomplishing nothing more than a redistribution of wealth from the 99% to the top 1%. The only alternative conclusion is that they are absolute idiots, which is possible though not probable.

[Reynard32]

Originally Posted by slowdude222

Plain and simple, the Federal Reserve is not part of the Federal Government.

This claim will always and forever be 100% wrong.

Originally Posted by slowdude222

It is a privately held corporation owned by stockholders.

The "stock" that member banks acquire is not "stock" in anything resembling the popular sense. It is more like the check for a coat left in a restaurant cloakroom.

Originally Posted by slowdude222

That is why the Federal Reserve Bank of New York (and all the others) is listed in the Dun and Bradstreet Reference Book of American Business...

The 12 regional banks (and their branches) are separate entities from the Fed. They too were created by Congress. Those who work at the banks are not typically federal employees, but the banks are subject to Congressional oversight. The banks effectively operate as the local agents of the Fed. They are organized along the same lines as private corporations, which is often enough to confuse people.

[Reynard32]

Originally Posted by richrf

Persistent near-zero interest rates punish savers and hurt income growth for average U.S. households.

Low interest rates are expansionary. Raising them is contractionary. How at this point are incomes expected to benefit from contractionary monetary policy?

You may as well own up to the fact that all this anti-Fed noise is closely akin to complaints over "death panels" in PPACA.

[MountainBiking]

Originally Posted by John7777

The Fed is a private entity that somehow gained control of money issuance in the USA. That began in 1913 and its been downhill ever since. They are destroying the US dollar as we speak, to protect the balance sheets of their member banks.
Look at what things cost these days. College tuition, out of sight. Medical expenses, through the roof. And people are paying $100,000,000 for NYC condos. In other words, the Fed is stealing our money. It's almost worthless.

Yes.

This is why Libertarians despise the Federal Reserve.

[John7777]

Originally Posted by Reynard32

This claim will always and forever be 100% wrong.


The "stock" that member banks acquire is not "stock" in anything resembling the popular sense. It is more like the check for a coat left in a restaurant cloakroom.


The 12 regional banks (and their branches) are separate entities from the Fed. They too were created by Congress. Those who work at the banks are not typically federal employees, but the banks are subject to Congressional oversight. The banks effectively operate as the local agents of the Fed. They are organized along the same lines as private corporations, which is often enough to confuse people.

I see you've been well indoctrinated. You believe exactly what they want you to believe. Try opening your eyes for a change. Follow the money. Look at the big picture.