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The Federal Reserve is a private bank! DIE HARD III Herman Tiu Laurel 01/14/2011

Friday, January 14, 2011

The Federal Reserve is a private bank!

DIE HARD III
Herman Tiu Laurel
01/14/2011
It was on a Jan. 11 episode of a morning radio program that I realized how very few even among our society’s most well read really understand the core of the global financial and economic problem. To this day, only a handful are able to narrow the issue down to the very character of the so-called “Central Bank of the World,” the US Federal Reserve.

And whenever this happens, such as on that day when one bright texter conveyed this very important point to Teddy “Boy” Locsin during his radio broadcast, saying that “the US Federal Reserve is a private bank,” it is no longer strange that a lame retort that goes, “No.
 The Federal Reserve is a government bank; that is why it is called Federal,” will fly back almost without a nanosecond of thought from the supposed erudite’s lips. Yet even as Locsin believes this to be too obvious, it will definitely do him good if he can shift his attention to the case, Lewis v. United States, 680 F.2d 1239 (1982), US Court of Appeals, Ninth Circuit, where 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.”

The case involved a plaintiff who was injured by a vehicle owned and operated by a Federal Reserve bank, who brought action alleging jurisdiction under the Federal Tort Claims Act. The district court under Judge David Williams dismissed it, holding that a Federal Reserve bank was not a federal agency within the meaning of the Act.

The Center for Research on Globalization (CRG) report on this issue is very thorough and anyone can access its Web site (http://globalresearch.ca/) to check out the documents involved. At the end of the long analysis, the CRG says: “The common claim that the Fed is accountable to the government, because it is required to report to Congress on its activities annually, is incorrect. The reports to Congress mean little unless what the chairman reports can be verified by complete records. From its founding to this day, the Fed has never undergone a complete independent audit. Congress time after time has requested that the Fed voluntarily submit to a complete audit, and every time, it refuses.”

After the 2008 Wall Street collapse, the clamor for the audit of the Federal Reserve has intensified with former and soon-to-run-again “independent” Republican and Tea Party-backed presidential bet Ron Paul leading the charge. The Federal Reserve is still refusing the audit and the US Congress can’t do much about it so far because its character as a private bank allows it to set up many barriers to auditing.

The many Web sites on the issue say there’s an easier way to confirm if the Federal Reserve is or isn’t a private bank by looking into the US’ Yellow Pages. Indeed, the Federal Reserve does not appear in the pages’ government listing — but it comes after Federal Express in the commercial listing!

Enterprising investigators have dug up the private interests that own the controlling stocks of the Fed: Rothschild Banks of London and Berlin; Lazard Brothers Banks of Paris; Israel Moses Seif Banks of Italy; Warburg Bank of Hamburg and Amsterdam; Kuhn, Loeb Bank of NY (now Shearson American Express); Goldman Sachs of NY; National Bank of Commerce NY/Morgan Guaranty Trust (where JP Morgan Bank, Equitable Life, and Levi P. Morton are principal shareholders); Hanover Trust of NY (where William and David Rockefeller and Chase National Bank NY are principal shareholders); and Lehman Bros. (prior to 2008). Is it just a coincidence that all of them are Jewish interests?

In the final analysis, the Philippines — being tied to American economy and finance — is also under the control of this system. It’s no surprise then that many of our Finance secretaries have been recommended by Hank Greenberg — yes, another prominent Jewish money master.

It is therefore important for the likes of Teddy “Boy” Locsin to appreciate the real nature of the Federal Reserve. As a very popular communicator, it will be a boon to public enlightenment if he starts explaining this.

The control of money is the control of society; and control open to the public such as that of the “Bank of China,” which makes no bones about its being under the control of the Chinese government, is better than control hidden behind the cloak of terms such as “Federal” or “Bangko Sentral ng Pilipinas” (BSP) that mislead the people, when their money is actually controlled by unaccountable and self-interested parties that continue to exploit, abuse, and steal from them and the nation’s wealth.

The banking system that China maintains, similar to that of many other countries that are still state-controlled or dominated (e.g., India and, of course, Vietnam), is coined by some as the “National Bank” system. The Philippines, in contrast, has an absurd set-up where the BSP Board is dominated by private directors, even as the Philippine President appoints the BSP chief.

The famous and infamous quote from Amschel Rothschild, father of the Rothschild banks of Germany, Paris and Britain goes thus: “Give me control of a nation’s money and I care not who makes her laws…” And, if I may add, neither will they care about who votes in these elections or who counts these votes as many of these (including those PCOS machines) can be bought anyway. And since there are no elections in China, the Rothschilds of this world are not able to control such state-centered countries, including Cuba.

In the end, it’s a choice between the dictatorship of Money or the dictatorship of the People, represented by a National Economic Development program geared toward popular economic democracy. Whose side are you on?

(Tune in to Sulo ng Pilipino, Monday, Wednesday and Friday, 6 to 7 p.m. on 1098AM; TNT with HTL, Tuesday, 8 to 9 p.m., with replay at 11 p.m., on GNN, Destiny Cable Channel 8, on “2011: Year of Fighting Phil. Oligarchy” with Butch Junia and FDC’s Job Bordamente; visit our blogs, http://newkatipunero.blogspot.com and http://hermantiulaurel.blogspot.com)

(Reposted with permission from Mr. Herman Tiu-Laurel)

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/commentary/20110114com5.html

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