••can ye pass the acid test?••

ye who enter here be afraid, but do what ye must -- to defeat your fear ye must defy it.

& defeat it ye must, for only then can we begin to realize liberty & justice for all.

time bomb tick tock? nervous tic talk? war on war?

or just a blog crying in the wilderness, trying to make sense of it all, terror-fried by hate radio and FOX, the number of whose name is 666??? (coincidence?)

Monday, December 19, 2011

mistaken belief that leads to “end the fed” movement:
equating ownership with control

the only power private banks have in the federal reserve system is that member banks elect their regional reserve banks’ boards of directors. the national board of governors is appointed by the president, confirmed by congress, and has a voting majority on the open market committee.

member banks must invest 3% of their capital in the reserve banks. they cannot sell or trade their stock or even use it as security for loans. they get a fixed annual dividend of 6% that is unaffected by their actions.

private banks have a voice, but only as a minority. they do not control anything.

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