Learn how the Central Bank that Runs today’s economic system: the US federal reserve is not owned by either the US government or the US people:
Federal Reserve Act Section 5. Stock Issues; Increase and Decrease of Capital 1. Amount of shares; increase and decrease of capital; surrender and cancellation of stock The capital stock of each Federal reserve bank shall be divided into shares of $100 each. The outstanding capital stock shall be increased from time to time as member banks increase their capital stock and surplus or as additional banks become members, and may be decreased as member banks reduce their capital stock or surplus or cease to be members. Shares of the capital stock of Federal reserve banks owned by member banks shall not be transferred or hypothecated. When a member bank increases its capital stock or surplus,it shall thereupon subscribe for an additional amount of capital stock of the Federal reserve bank of its district equal to 6 per centum of the said increase, one-half of said subscription to be paid in the manner herein before provided for original subscription, and one-half subject to call of the Board of Governors of the Federal Reserve System. A bank applying for stock in a Federal reserve bank at any time after the organization thereof must subscribe for an amount of the capital stock of the Federal reserve bank equal to 6 per centum of the paid-up capital stock and surplus of said applicant bank, paying therefor its par value plus one-half of 1 percentum a month from the period of the last dividend. When a member bank reduces its capital stock or surplus it shall surrender a proportionate amount of its holdings in the capital stock of said Federal Reserve bank. Any member bank which holds capital stock of aFederal Reserve bank in excess of the amount required on the basis of 6 per centum of its paid-up capital stock and surplus shall surrender such excess stock. When a member bank voluntarily liquidates it shall surrender all of its holdings of the capital stock of said Federal Reserve bank and be released from its stock subscription not previously called. In any such case the shares surrendered shall be canceled and the member bank shall receive in payment therefor, under regulations to be prescribed by the Board of Governors of the Federal Reserve System, a sum equal to its cash-paid subscriptions on the shares surrendered and one-half of 1 per centum a month from the period of the last dividend, not to exceed the book value thereof, less any liability of such member bank to the Federal Reserve bank. [12 USC 287. As amended by act of Aug. 23, 1935 (49 Stat. 713).] Last update: May 23, 2013
Learn more from one of the best economic mentors the world has to offer!
“The Federal Reserve believes it can create money out of thin air, not realizing that money is supposed to represent real products and services. And what people don’t realize is that when the Fed ( Federal Reserve ) does that… it’s a form of taxation, it’s a form of confiscation. And because people don’t see it, the politicos get away with it. But it also undermines social trust. It just is corrosive throughout society.”
– Steve Forbes