Who owns the Federal Reserve Bank?

Discussion in 'Politics & Law' started by Truth-Bringer, May 16, 2007.

  1. Who owns the Federal Reserve Bank?

    A phone conversation about the unseen operations of the Federal Reserve System -- Andrew Winkler

    The following is a conversation with Mr. Ron Supinski of the Public Information Department of the San Francisco Federal Reserve Bank.

    This is an actual transcript of that conversation.

    CALLER: Mr. Supinski, does my country own the Federal Reserve System?

    MR. SUPINSKI: We are an agency of the government.

    CALLER: That's not my question. Is it owned by my country?

    MR. SUPINSKI: It is an agency of the government created by congress.

    CALLER: Is the Federal Reserve a Corporation?

    MR. SUPINSKI: Yes.

    CALLER: Does my government own any of the stock in the Federal Reserve?

    MR. SUPINSKI: No, it is owned by the member banks.

    CALLER: Are the member banks private corporations?

    MR. SUPINSKI: Yes.

    CALLER: Are Federal Reserve Notes backed by anything?

    MR. SUPINSKI: Yes, by the assets of the Federal Reserve but, primarily by the power of congress to lay tax on the people.

    CALLER: Did you say, by the power to collect taxes is what backs Federal Reserve Notes?

    MR. SUPINSKI: Yes.

    CALLER: What are the total assets of the Federal Reserve?

    MR. SUPINSKI: The San Francisco Bank has $36 Billion in assets.

    CALLER: What are these assets composed of?

    MR. SUPINSKI: Gold, the Federal Reserve Bank itself and government securities.

    CALLER: What value does the Federal Reserve Bank carry gold per oz. on their books?

    MR. SUPINSKI: I don't have that information but the San Francisco Bank has $1.6 billion in gold.

    CALLER: Are you saying the Federal Reserve Bank of San Francisco has $1.6 billion in gold, the bank itself and the balance of the assets is government securities?

    MR. SUPINSKI: Yes.

    CALLER: Where does the Federal Reserve get Federal Reserve Notes from?

    MR. SUPINSKI: They are authorized by the U.S. Treasury.

    CALLER: How much does the Federal Reserve pay for a $10 Federal Reserve Note?

    MR. SUPINSKI: Fifty to seventy cents (0.50¢ to 0.70¢).

    CALLER: How much do they pay for a $100.00 Federal Reserve Note?

    MR. SUPINSKI: The same fifty to seventy cents (0.50¢ to 0.70¢).

    CALLER: To pay only 0.50¢ for a US $100.00 dollar bill is a tremendous gain, isn't it?

    MR. SUPINSKI: Yes.

    CALLER: According to the US Treasury, the Federal Reserve pays $20.60 per 1,000 denomination or a little over two cents for a $100.00 bill, is that correct?

    MR. SUPINSKI: That is probably close.

    CALLER: Doesn't the Federal Reserve use the Federal Reserve Notes that cost about two cents each to purchase U.S. Treasury Bonds from the government?

    MR. SUPINSKI: Yes, but there is more to it than that.

    CALLER: Basically, that is what happens?

    MR. SUPINSKI: Yes, basically you are correct.

    CALLER: How many Federal Reserve Notes are in circulation?

    MR. SUPINSKI: $263 billion and we can only account for a small percentage.

    CALLER: Where did they go?

    MR. SUPINSKI: Peoples mattress, buried in their back yards and illegal drug money.

    CALLER: Since the debt is payable in Federal Reserve Notes, how can the $4 trillion national debt be paid-off with the total Federal Reserve Notes in circulation?

    MR. SUPINSKI: I don't know.

    CALLER: If the Federal Government would collect every Federal Reserve Note in circulation would it be mathematically possible to pay the $4 trillion national debt?


    CALLER: Am I correct when I say, $1 deposited in a member bank $8 can be lent out through Fractional Reserve Policy?

    MR. SUPINSKI: About $7.

    CALLER: Correct me if I am wrong but, $7 of additional Federal Reserve Notes were never put in circulation.

    For lack of better words they were "created out of thin air" in the form of credits and the two cents per denomination were not paid either.

    In other words, the Federal Reserve Notes were not physically printed but, in reality were created by a journal entry and lent at interest.

    Is that correct?

    MR. SUPINSKI: Yes.

    CALLER: Is that the reason there are only $263 billion Federal Reserve Notes in circulation?

    MR. SUPINSKI: That is part of the reason.

    CALLER: Am I mistaking that when the Federal Reserve Act was passed (on Christmas Eve) in 1913, it transferred the power to coin and issue our nation's money and to regulate the value thereof from Congress to a Private corporation.

    And my country now borrows what should be our own money from the Federal Reserve (a private corporation) plus interest.

    Is that correct and if so, the debt can never be paid off under the current money system?

    MR. SUPINSKI: Basically, yes.

    CALLER: I smell a rat, do you?

    MR. SUPINSKI: I am sorry, I can't answer that, I work here.

    CALLER: Has the Federal Reserve ever been independently audited?

    MR. SUPINSKI: We are audited.

    CALLER: Why is there a current House Resolution 1486 calling for a complete audit of the Federal Reserve by the GAO and why is the Federal Reserve resisting?

    MR. SUPINSKI: I don't know.

    CALLER: Does the Federal Reserve regulate the value of Federal Reserve Notes and interest rates?

    MR. SUPINSKI: Yes.

    CALLER: Explain how the Federal Reserve System can be Constitutional if, only the Congress of the US, which comprises of the Senate and the House of representatives has the power to coin and issue our money supply and regulate the value thereof? (Article 1 Section 1 and Section

    Nowhere, in the Constitution does it give Congress the power or authority to transfer any powers granted under the Constitution to a private corporation or, does it?

    MR. SUPINSKI: I am not an expert on constitutional law. I can refer you to our legal department.

    CALLER: I can tell you I have read the Constitution. It does NOT provide that any power granted can be transferred to a private corporation. Doesn't it specifically state, all other powers not granted are reserved to the States and to the citizens?

    Does that mean to a private corporation?

    MR. SUPINSKI: I don't think so, but we were created by Congress.

    CALLER: Would you agree it is our country and it should be our money as provided by our Constitution?

    MR. SUPINSKI: I understand what you are saying.

    CALLER: Why should we borrow our own money from a private consortium of bankers?

    Isn't this why we had a revolution, created a separate sovereign nation and a Bill of Rights?

    MR. SUPINSKI: (Declined to answer).

    CALLER: Has the Federal Reserve ever been declared constitutional by the Supreme Court?

    MR. SUPINSKI: I believe there have been court cases on the matter.

    CALLER: Have there been Supreme Court Cases?

    MR. SUPINSKI: I think so, but I am not sure.

    CALLER: Didn't the Supreme Court declare unanimously in A.L.A. Schechter Poultry Corp. vs. US and Carter vs. Carter Coal Co. the corporative-state arrangement an unconstitutional delegation of legislative power?

    ("The power conferred is the power to regulate. This is legislative delegation in its most obnoxious form; for it is not even delegation to an official or an official body, presumptively disinterested, but to private persons." Carter vs. Carter Coal Co...)

    MR. SUPINSKI: I don't know, I can refer you to our legal department.

    CALLER: Isn't the current money system a house of cards that must fall because, the debt can mathematically never be paid-off?

    MR. SUPINSKI: It appears that way.

    I can tell you have been looking into this matter and are very knowledgeable. However, we do have a solution.

    CALLER: What is the solution?

    MR. SUPINSKI: The Debit Card.

    CALLER: Do you mean under the EFT Act (Electronic Funds Transfer)?

    Isn't that very frightening, when one considers the capabilities of computers?

    It would provide the government and all it's agencies, including the Federal Reserve such information as: You went to the gas station @ 2:30 and bought $10.00 of unleaded gas @ $1.41 per gallon and then you went to the grocery store @ 2:58 and bought bread, lunch meat and milk for $12.32 and then went to the drug store @ 3:30 and bought cold medicine for $5.62.

    In other words, the government would know where we go, when we went, how much we paid, how much the merchant paid and how much profit he made.

    Under the EFT they will literally know everything about us. Isn't that kind of scary?

    MR. SUPINSKI: Yes, it makes you wonder.

    CALLER: I smell a GIANT RAT that has overthrown my constitution. Aren't we paying tribute in the form of income taxes to a consortium of private bankers?

    MR. SUPINSKI: I can't call it tribute, it is interest.

    CALLER: Haven't all elected officials taken an oath of office to preserve and defend the Constitution from enemies both foreign and domestic? Isn't the Federal Reserve a domestic enemy?

    MR. SUPINSKI: I can't say that.

    CALLER: Our elected officials and members of the Federal Reserve are guilty of aiding and abetting the overthrowing of my Constitution and that is treason. Isn't the punishment of treason death?

    MR. SUPINSKI: I believe so.

    CALLER: Thank you for your time and information and if I may say so, I think you should take the necessary steps to protect you and your family and withdraw your money from the banks before the collapse. I am.

    MR. SUPINSKI: It doesn't look good.

    CALLER: May God have mercy on the souls who are behind this unconstitutional and criminal act called the Federal Reserve. When the ALMIGHTY MASS awakens to this giant hoax, they will not take it with a grain of salt. It has been a pleasure talking to you and I thank you for your time. I hope you will take my advice before it does collapse.

    MR. SUPINSKI: Unfortunately, it does not look good.

    CALLER: Have a good day and thanks for your time.

    MR. SUPINSKI: Thanks for calling.


    A new animated show is quite enlightening on the modern banking system:


    For those with more time on your hands, you might want to check out "The Money Masters":



  2. SgtCrom

    SgtCrom Registered Member

    Nothing to say.
  3. Kazmarov

    Kazmarov For a Free Scotland

    No such rule exists. Feel free to post direct links to whatever you wish to, providing it's not advertising your own personal site, and the content is appropriate.
  4. Yes, everyone in America needs to see that documentary. The reason the banksters continue to maintain control is only due to the ignorance of the American people. As Henry Ford said, "It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."

    No one should ever wish for continued ignorance though. And revolutions don't have to be violent. We can have a peaceful, non-violent revolution just as easily - but only if people are informed.

    I haven't heard of that. I'll try to check it out.
  5. ChinUp

    ChinUp ¤ Breathe

    I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power should be taken from the banks and restored to the people to whom it properly belongs. ~Thomas Jefferson

    The forefathers wrote up the constitution specifically to avoid such eventualities .. pity greed took precedence over civil responsibility when the industrial age kicked in ..

    The real question is .. due to our current commitment to banking institutions .. what options do we have ? What alternatives do we have ? this is the real weapon of this snake that squeezes the people dry .. our total & utter dependence on it .. for everything from water in our tap to bread on the table ..

    I have often said that when the dollar bill started being printed .. America died ..
  6. nanite1018

    nanite1018 Registered Member

    That is insane. I only had a vague idea that our money was basically built upon faith in its value, I had no idea that it was a nonsensical as all that. How is it possible to make money out of thin air? I want to get on that action. Lol.
  7. What options do we have? Not many, but we do have some options.

    First of all though, everyone has to stop voting for any politicians who refuse to do anything about this, so that means 99.9% of Democrats and Republicans. Just forget about the major two parties.

    You need to start contributing your vote, your money and your time to a third party that doesn't support central banking and fiat currency.

    In the meantime, you need to try to use alternative currencies whenever possible such as: http://www.libertydollar.org and http://www.e-bullion.com

    Start researching these things on the web and you'll find other possibilities as well.

    Start stocking up on gold and silver and I actually have my retirement accounts in a foreign country - and NOT denominated in the U.S. dollar - which is eventually going to tank.

    And just keep educating as many people as possible. Most people can clearly see that it's a greed issue and that it doesn't benefit the country at all. If we keep exposing the banksters, eventually enough people will see them for what they are and will take action by voting all the status quo politicians out of power.

    We shouldn't desire to emulate these folks. We should simply seek an honest monetary system.

    Here are a few more links if you want to learn more:


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