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?

MR. SUPINSKI: No.

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.

http://www.wikiprotest.com/index.php...ederal_Reserve

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"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." - Schopenhauer

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

http://video.google.com/videoplay?do...83451279&hl=en

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


http://video.google.com/videoplay?do...+masters&hl=en

http://video.google.com/videoplay?do...+masters&hl=en

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"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." - Schopenhauer

I have a wacky friend that has been going on about this. But has explained it very poorly and also believes that aliens live among us. While 90% of his conspiracy theories are utter BS, it seems like there is something to this whole federal reserve is the devil idea.

What the link doesn't say is that the whole system is overseen by the Fed's Board of Governors, who are appointed by the President and confirmed by the Senate.

Y'all ought to be happy that the Fed system is somewhat independent. That's what keeps the government from simply printing more money whenever it wants. It uses market forces to control the money supply instead, and is somewhat insulated from political pressure.

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Man up.

This conversation is either made up or the Federal Reserve guy doesn't know what he is talking about.

Please stop lying.

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"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." - Schopenhauer

Well, just because someone you consider "wacky" believes something doesn't mean it's automatically false. If a "wacky" homeless person wearing a purple suit and a tin foil hat were to come up to you on the street and tell you that 2+2=4, and then President of the United States walked up to you and told you 2+2=5, would the homeless person be wrong because they were considered "wacky" and the President be right because of his status? Of course not.

Well, I'll say this - statistically, it's pretty much a given that other intelligent life has to exist in the universe. Now, if someone were from a highly advanced planet that had eradicated disease, suffering, war, etc., I would think they would look at earth as a very barbaric place, and wouldn't announce a visit...especially if they have something like the non-interference Prime Directive a la Star Trek. I think the following is pretty interesting:

http://www.sprezzatura.it/Arte/Arte_UFO_1_eng.htm

I think it's very hard to explain away the clear crafts on the following:

http://www.sprezzatura.it/Arte/Arte_UFO_2_eng.htm

check out all 5 parts of that link.

Now I don't know what your friend is referring to in regards to "aliens among us", but there is also the fact that people can be wrong about some things and right about others. So if the "wacky" homeless person from the previous example were to continue to talk to us and tells us 10+10=35, that still would not change the fact that he was right about 2+2=4.

There is indeed something to it. The bottom line is profit. G. Edward Griffin, the man who wrote "The Creature from Jekyll Island," about the creation of the Federal Reserve, is actually rather reserved in his views compared to what people have assumed about him. But he does state that there is evidence private banks lobbied the government for the creation of the Fed. So, bottom line, what does that mean? Well, I've never known any business to pay money to lobby the government for anything other than a FINANCIAL BENEFIT. So, what benefit(s) are they receiving? I think the prior interview and the videos pretty well sum that up... They're making a lot of money - money which is made at the expense of the American people.

I highly recommend you take the time to read the following:

http://www.buildfreedom.com/tl/rapecon.shtml

And thanks for having an open mind on the subject.

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"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." - Schopenhauer

You'll have to excuse raytri. He's a statist who gets EXTREMELY agitated whenever anyone questions anything he likes about the government. He was in the military where you're basically the property of the government and when they tell you to jump you have to say "how high?" or risk punishment. He believes in central control of everything and bowing to the government as often as possible.

What he just said doesn't stop the Fed from making a profit - nor does it stop the Fed from impeding the market.

LOL. No, it's not. More money gets printed via the Fed due to private debt requests, as the video neatly shows.

ROTFLMAO. Please stop lying. A central bank is one of the planks of the Communist Manifesto. The Fed is a government-created monopoly - not a market creation. And the legal tender laws prohibit the market. Everyone is forced to use the fiat federal reserve notes for all public and private debt payments, or face the force of the government.

But thanks for that, it demonstrates perfectly the irrationality of the statist mindset on this issue.

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"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." - Schopenhauer

You can use what ever form of currency you want. In order to promote liquidity and efficiency in trade the government backs only one form. The fiat money that we all use. If you choose to barter, and use other things and can find anyone to do this with, that is completely up to you and you face no "force". If you do want the federal government to back you up and enforce your debts and trades then yes, you must use the money which they endorse.

You could use alternative currency as long as you don't attempt to pay any public or private debts with it, but the fact of the matter is that the government usually threatens people who do so:

'Liberty Dollars' Can Buy Users A Prison Term, U.S. Mint Warns

"So says the U.S. Mint, which would like to remind Liberty Dollar users that since the United States already has its own currency, the only thing Liberty Dollars buy in these parts is a jail term."

http://www.washingtonpost.com/wp-dyn...100900993.html


Simply false. It has nothing to do with the government "backing you up" - you must by law use their currency to pay all public and private debts - which has had the de facto effect of enforcing a stranglehold in all other areas since debt payments are a huge portion of the economy.

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"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." - Schopenhauer