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The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. When this new debt is created, the amount of interest that the U. government will eventually pay on that debt is not also created. You see, the reality is that the money supply is designed to constantly expand under the Federal Reserve system. The Federal Reserve always says that it is “committed” to controlling inflation, but that never seems to work out so well.
The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year. That is why we have all become accustomed to thinking of inflation as “normal”. And current Federal Reserve Chairman Ben Bernanke says that it is actually a good thing to have a little bit of inflation. Well, just consider the following excerpt from a recent Forbes article….
What would happen if the Federal Reserve was shut down permanently?
In fact, if you want to find out that the Federal Reserve system is owned by the member banks, all you have to do is go to the Federal Reserve website…. Under the present system of doing business we simply add 120 to 150 per cent, to the stated cost. On July 1, 1914 (a few months after the Fed was created) the U. Yes, the perpetual debt machine is working quite well, and most Americans do not even realize what is happening. Of course almost all of that decline has happened since the Federal Reserve was created in 1913.We do not know how much of the system each bank owns, because that has never been disclosed to the American people. That is 454 billion dollars that was taken out of our pockets and put into the pockets of wealthy individuals and foreign governments around the globe. For example, Thomas Edison was once quoted in the New York Times as saying the following…. He thinks it is stupid, and so do I, that for the loan of ,000,000 of their own money the people of the United States should be compelled to pay ,000,000 — that is what it amounts to, with interest.