I feel Jay B is out of touch with the reality of how most Americans feel about the Federal Reserve, and I feel 76% is probably right on the mark. Just because he falls into the 9% group is no reason to throw this site out. Maybe he just needs to do a bit more research.
Happily, my opinion of visualeconomics.com is dramatically increased by this posting.
Almost 300 people in Congress and (as shown in the posting), about 3/4 of Americans believe the Fed should be audited. This is exactly what I would expect for any non-governmental agency that has been granted so much power by our elected government.
Congratulations, VE – you just gained a viral-spreader (me) who will tell lots of my peeps about how interesting and useful your site is.
‘The Fed has done a pretty good job so far’
Yeah, sure, especially at preserving the value of the dollar.
Suppose you had invested in a stock in 1913 and the stock’s value declined in real terms by 95%. Would you say the managers of the company’s stock had done a ‘pretty good job so far’?
I just glanced at the Fed Fact Sheet, and the first thing I saw was incorrect. It says the Fed is a private institution owned by the 12 FRB’s. That is incorrect. The Federal Reserve system comprises three parts: the Board of Governors, the Federal Open Market Committee, and the 12 FRB’s. The first two of those entities are agencies of the federal government. The 12 banks are privately funded, (but the ownership rights are severely restricted). The fact that the Board and the FOMC are federal agencies is important. That was the basis of the recent ruling in federal court that all Board and FOMC documents are subject to the Freedom of Information Act. The court ruled that the FOIA also applies to documents held at the FRB’s if the documents ever passed through one of the agencies in the course of business, because the agencies become and remain custodians of such documents, regardless of where they are stored. The court ruled a couple of days ago that the Fed was to reveal all documents it has regarding who got TARP funds, and to begin searching for such documents at the NY FRB “forthwith.” That was in the matter of a lawsuit brought against the Board and the FOMC by Bloomberg.
Jay B, the Fed caused the Great Depression, the dot-com bubble and bust, and the economic troubles that we are embroiled in today. Under the Fed’s watch, the dollar has lost 96% of its purchasing power, and the US government has been allowed to run up a debilitating debt.
I found this quite informative. Not sure I agree that the fed has done a “pretty good job so far” as posted above. Maybe it has, maybe it hasn’t. To me, it’s quite debatable. Step one in determining whether the FED is generally beneficial or detrimental is getting the story out, getting the debate onto solid footing. (My hunch–and it IS just a hunch, keep in mind–is that the FED is generally detrimental and that decades from now Central Banking will be almost universally viewed a subtle, serpentine form of slavery.)
The Fed has devalued the dollar by over 95% since its inception in 1913. So you did some googling and feel OK with a bunch of private Bankers having the power to determine the value of the money in your pocket? You complain that the posting is bias and then go on to leave a comment bias the other way. At least the post gives good solid facts as to why it holds the position it does.
Jay B, by your logic, perhaps we should post a fact sheet detailing all the GOOD things Hitler did?
You seem to completely misunderstand the word “bias.” If this were biased, the information in it would be slanderous or untrue. Show me one statement or quote that is not true or accurate.
In direct opposition to the above comment, I think this is absolutely a bright spot in your website and its information.
Opinion and bias free ? Setting aside the point that there never is such a thing, is pointing out that someone has a bias not hypocritical since pointing out a bias reveals a bias in and of itself? Criticism of someone else’s viewpoint is itself a viewpoint is it not ? Yes it is. I am always wary of anyone who claims to be un-biased, they are liars. There is always a bias, human beings are incapable of total disinterest. I prefer honesty, and this page clearly reveals some important information, and some that is not always reported on.
So keep up the good work, as long as the information is accurate I don’t care if your biased or not, just be honest about where your coming from, and I am adult enough to decide for myself if I agree.
Bryce made the comment that the federal reserve has been audited and he is exactly right. What you fail to mention is that the fed basically dictated the terms of the audit declaring that A. B. C. D. were things that were exempt from audit. Naturally A. B. C. D. were the most important parts of the audit. So your wrong because HR 1207 is just about getting a fair audit and shining some light on the shadowy existence of the fed. Your statement is very misleading.
Oops. I read a bit more and found another mistake. Thomas Jefferson never said the bit about “inflation” and “deflation.” The word “deflation” did not even exist until long after Jefferson’s time. The purported quote is at best a splicing together of paraphrases of things that Jefferson said.
There are plenty of other quotes you could use that are just as damning, but historical.
In answering the question of whether or not the Fed has done a “good job” we must ask “For whom?”.
Can a organization which serves as the foundation and regulatory body that underpins a “fractional reserve” banking system EVER do a good job for “the people”?
Can a financial system that enjoys the exclusive perogative of creating “credit” and lending it to the people achieve anything other than saddling the entire populace with something other than eventual unservicable debt?
In my opinion the Fed is nothing more than a facade which serves to lend legitimacy to a fundamentally corrupt system, but it does a GREAT job for the owners of the banks.
FOR ALL – -who want more info about the Fed and the highly suspect facts surrounding it’s creation and power, do a search on youtube or Google for the name “Aaron Russo” he made a full length feature film (which received a standing ovation at the 2006 Cannes Film Festival), before he died in 2007, which is a MUST SEE for all Americans.
For those who’ve ever bothered to read the bible, you might note that the only case on record of Jesus ever getting physically violent, was regarding the Money Changers (Bankers) who were fleecing the masses.
We need more websites such as yours that attempt to educate the uneducated about the corruption and damage to the people by government, and in this case the FED. Although the FED may be a private institution, it is run by the government. The seven governors appointed by the president and confirmed by the senate, make them political beasts, as are Supreme courts Justices. They help to carry out the goals of those in charge, more often than not destructive of the peoples liberty, freedom, and ability to provide for themselves.
Although all the detriments to the people pointed out here are facts, and there are many more not pointed out, the most important of all, only briefly mentioned and not even discussed in the comments, is the unconstitutionality of the FED.
The total lack of any constitutional authority for the FED, and what it does, is what has allowed it to destroy the dollar and bankrupt the American people. We have come so far from the principles of our Constitution in the last 80 years, that it is questionable if we will ever be able to reverse our plight.
The Constitution is suppose to, and certainly would if vehemently enforced, protect the people from such catastrophes such as the FED. But, our Constitution today is all but entirely ignored, and seldom comes to the forefront as the most important protection against the damages forced on the people by government, the discussions on here provide an example of this.
If we the people do not come back to, and demand that we will from this day forward insist on nothing short of, a strict and never ending compliance to and respect for our Constitution, and elect only those who will enforce our Constitutional free republic, America is in grave danger of total collapse. The FED is a good place to start.
Jenqa…you are missing a subtle point…they take out a “operating expense” before handing it over to the Federal Gov. Now who doesn’t want to know what that amounts to and WHO actually holds the PRIVATE shares of stock (the Federal Gov. doesn’t even know).
Someone correct me if I am wrong here, but is the Fed not unconstitutional because the power of coin money and fix the standard of wieghts and measures was assigned to congress. Period. Not to a private orginization authorized BY congress, but to CONGRESS. Congress was not giventhe power to delegate this authority at any point in the constitution that I am aware of.
I am, however, aware that the 10th amendment states that all powers not granted to the central government per the constitution are reserved for the states and the people. We didn’t vote the fed into existance.
So, as I understand it, the constitution didn’t say it can exist, and the people didn’t say it can exist, then it is unconstitutional. Have I got that right?
The demand for neutrality in every case has more to do with philosophical dogma than it does with science. When the facts point to a real problem, it is pointless to manufacture another set of facts to “counter-balance” the reality. That isn’t science; that’s sophistry.
Anyone who knows there history and understands the origins of the centralized bank knows what is happening is completely controlled and set to happen on purpose.
The failures we are seeing now are built into the sytem, it cant be avoided when every dollar that is created is done so out of debt or interest. So if EVERY dollar that is created comes with a immediate debt or interest attached to it where does the money come from to pay off the interest? It comes from no where, the FED has to continually inflate the currency to be able to pay off the interest on the money that already exsists in circulation. Well we all know the more you inflate the currency the less our dollar means which leads to the exact problems we are facing now!! We need to realize the FED is a criminal element that has destroyed our government and country. We need to get them the hell out of our lifes rather then just audit there services. Because this system of corruption was never meant to sustain a large mass of people, only the small few at the top of this pyramid!!
I really wish people would stop perpetuating this nonsensical idea that the federal reserve is unconstitutional. It’s not.
While Congress wasn’t explicitly given the power to delegate, it was given the power to do everything it deems “necessary and proper” to do what it has been given the authority to do. What is to be considered “necessary and proper” is up to Congress. Moreover, it’s given the power to regulate interstate commerce; if Congress decides the federal reserve is necessary and proper, then it’s within Congress’s ability.
Congress, under our Constitution does NOT have the power to delegate the power to create laws to ANY other entity. Only congress can make laws. The FCC cannot make laws. The FED cannot make laws. Only congress has that authority under the Constitution.
Therefore, the Fed is unconstitutional, and congress has violated it’s powers under it. The Constitution IS the law of the land, and no one is above the law.
Section 1. All legislative powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and House of Representatives.
Legislate: Make laws, bills, etc. or bring into effect by legislation.
Congress is the ONLY entity allowed to make laws, period. Therefore, all federal agencies which make their own laws, other than congress (both house and senate), are unconstitutional. These bills, to become law must also meet other Constitutional requirements, such as signature of the president, or if the president veto’s, overriding of veto by 2/3s of both houses of congress.
Well, USA as any other empire will collapse sooner or later. The question is: where will it transform after collapse. Carefully read the history and observe.
Look at Roman Empire, Byzantine Empire, Ottoman Empire, The Golden Horde, British Empire, USSR, etc. If you put all those megaempires that virtually ruled the world in a timeline, you will find that as the world progresses the half life for empires shortening exponentially.
USA will collapse as there’s no enemy for it. It did what it should do. Russia and China out-played by jumping on the same boat of captialism. However, the difference is that those countries have their own boat in the dock, which is not the case for USA.
Still, I think that American capitalists will move their capitals into other parts of the world. The globalization heavily financed by the USA (read, capitalists) at the expense of American people’s future (read, taxes, etc.) is just a foundation of the plot, new foundation to move their capitals across the globe.
Again, read the history of biggest empires and you will find many more similarities. I believe those powerful and rich people in America know what’s in the end, and therefore plan to survive.
[...] Thank Bernie Sanders for standing up to Wall Street and putting a “hold” on Ben Bernanke. Add your name to those who have his back. VisualEconomics.com: The Anti-Fed Fact Sheet [...]
I feel Jay B is out of touch with the reality of how most Americans feel about the Federal Reserve, and I feel 76% is probably right on the mark. Just because he falls into the 9% group is no reason to throw this site out. Maybe he just needs to do a bit more research.
Happily, my opinion of visualeconomics.com is dramatically increased by this posting.
Almost 300 people in Congress and (as shown in the posting), about 3/4 of Americans believe the Fed should be audited. This is exactly what I would expect for any non-governmental agency that has been granted so much power by our elected government.
Congratulations, VE – you just gained a viral-spreader (me) who will tell lots of my peeps about how interesting and useful your site is.
‘The Fed has done a pretty good job so far’
Yeah, sure, especially at preserving the value of the dollar.
Suppose you had invested in a stock in 1913 and the stock’s value declined in real terms by 95%. Would you say the managers of the company’s stock had done a ‘pretty good job so far’?
I just glanced at the Fed Fact Sheet, and the first thing I saw was incorrect. It says the Fed is a private institution owned by the 12 FRB’s. That is incorrect. The Federal Reserve system comprises three parts: the Board of Governors, the Federal Open Market Committee, and the 12 FRB’s. The first two of those entities are agencies of the federal government. The 12 banks are privately funded, (but the ownership rights are severely restricted). The fact that the Board and the FOMC are federal agencies is important. That was the basis of the recent ruling in federal court that all Board and FOMC documents are subject to the Freedom of Information Act. The court ruled that the FOIA also applies to documents held at the FRB’s if the documents ever passed through one of the agencies in the course of business, because the agencies become and remain custodians of such documents, regardless of where they are stored. The court ruled a couple of days ago that the Fed was to reveal all documents it has regarding who got TARP funds, and to begin searching for such documents at the NY FRB “forthwith.” That was in the matter of a lawsuit brought against the Board and the FOMC by Bloomberg.
END THE FED!
Jay B, the Fed caused the Great Depression, the dot-com bubble and bust, and the economic troubles that we are embroiled in today. Under the Fed’s watch, the dollar has lost 96% of its purchasing power, and the US government has been allowed to run up a debilitating debt.
That’s broke, and needs fixing.
Thats ok Jay, there’s plenty of us to help this go viral without you.
I found this quite informative. Not sure I agree that the fed has done a “pretty good job so far” as posted above. Maybe it has, maybe it hasn’t. To me, it’s quite debatable. Step one in determining whether the FED is generally beneficial or detrimental is getting the story out, getting the debate onto solid footing. (My hunch–and it IS just a hunch, keep in mind–is that the FED is generally detrimental and that decades from now Central Banking will be almost universally viewed a subtle, serpentine form of slavery.)
Jay B -
The Fed has devalued the dollar by over 95% since its inception in 1913. So you did some googling and feel OK with a bunch of private Bankers having the power to determine the value of the money in your pocket? You complain that the posting is bias and then go on to leave a comment bias the other way. At least the post gives good solid facts as to why it holds the position it does.
END THE FED
ARREST THE BANKSTERS
RON PAUL 2012
Jay B, by your logic, perhaps we should post a fact sheet detailing all the GOOD things Hitler did?
You seem to completely misunderstand the word “bias.” If this were biased, the information in it would be slanderous or untrue. Show me one statement or quote that is not true or accurate.
So it’s a “for profit” business that gives all it’s profit back to the treasury. Great way to make a profit….
In direct opposition to the above comment, I think this is absolutely a bright spot in your website and its information.
Opinion and bias free ? Setting aside the point that there never is such a thing, is pointing out that someone has a bias not hypocritical since pointing out a bias reveals a bias in and of itself? Criticism of someone else’s viewpoint is itself a viewpoint is it not ? Yes it is. I am always wary of anyone who claims to be un-biased, they are liars. There is always a bias, human beings are incapable of total disinterest. I prefer honesty, and this page clearly reveals some important information, and some that is not always reported on.
So keep up the good work, as long as the information is accurate I don’t care if your biased or not, just be honest about where your coming from, and I am adult enough to decide for myself if I agree.
Bryce made the comment that the federal reserve has been audited and he is exactly right. What you fail to mention is that the fed basically dictated the terms of the audit declaring that A. B. C. D. were things that were exempt from audit. Naturally A. B. C. D. were the most important parts of the audit. So your wrong because HR 1207 is just about getting a fair audit and shining some light on the shadowy existence of the fed. Your statement is very misleading.
Oops. I read a bit more and found another mistake. Thomas Jefferson never said the bit about “inflation” and “deflation.” The word “deflation” did not even exist until long after Jefferson’s time. The purported quote is at best a splicing together of paraphrases of things that Jefferson said.
There are plenty of other quotes you could use that are just as damning, but historical.
In answering the question of whether or not the Fed has done a “good job” we must ask “For whom?”.
Can a organization which serves as the foundation and regulatory body that underpins a “fractional reserve” banking system EVER do a good job for “the people”?
Can a financial system that enjoys the exclusive perogative of creating “credit” and lending it to the people achieve anything other than saddling the entire populace with something other than eventual unservicable debt?
In my opinion the Fed is nothing more than a facade which serves to lend legitimacy to a fundamentally corrupt system, but it does a GREAT job for the owners of the banks.
[...] View the original article here: http://www.visualeconomics.com/the-anti-fed-fact-sheet/ [...]
FOR ALL – -who want more info about the Fed and the highly suspect facts surrounding it’s creation and power, do a search on youtube or Google for the name “Aaron Russo” he made a full length feature film (which received a standing ovation at the 2006 Cannes Film Festival), before he died in 2007, which is a MUST SEE for all Americans.
For those who’ve ever bothered to read the bible, you might note that the only case on record of Jesus ever getting physically violent, was regarding the Money Changers (Bankers) who were fleecing the masses.
The Fed MUST GO ! ! !
We need more websites such as yours that attempt to educate the uneducated about the corruption and damage to the people by government, and in this case the FED. Although the FED may be a private institution, it is run by the government. The seven governors appointed by the president and confirmed by the senate, make them political beasts, as are Supreme courts Justices. They help to carry out the goals of those in charge, more often than not destructive of the peoples liberty, freedom, and ability to provide for themselves.
Although all the detriments to the people pointed out here are facts, and there are many more not pointed out, the most important of all, only briefly mentioned and not even discussed in the comments, is the unconstitutionality of the FED.
The total lack of any constitutional authority for the FED, and what it does, is what has allowed it to destroy the dollar and bankrupt the American people. We have come so far from the principles of our Constitution in the last 80 years, that it is questionable if we will ever be able to reverse our plight.
The Constitution is suppose to, and certainly would if vehemently enforced, protect the people from such catastrophes such as the FED. But, our Constitution today is all but entirely ignored, and seldom comes to the forefront as the most important protection against the damages forced on the people by government, the discussions on here provide an example of this.
If we the people do not come back to, and demand that we will from this day forward insist on nothing short of, a strict and never ending compliance to and respect for our Constitution, and elect only those who will enforce our Constitutional free republic, America is in grave danger of total collapse. The FED is a good place to start.
The_Omegaman
A trillion dollars of intake huh? And tell me, where does that money go?
Recall who owns the member banks of the Fed. Yes, the commercial banks like BofA, Chase, et al.
We’re pumping that money right back into these huge national banks. It has to stop.
While we’re at it, lets revise the Telecom Act of 1996 and remove the bogus FUSF, E-911, and other money grabs by telecom companies.
I’m worried about the direction of the Fed and the value of the dollar as any intelligent, aware American should be.
But I don’t trust graphs that only show the bad. Where are the charts that show the real, inflation adjusted trends for decades rather than months?
Jenqa…you are missing a subtle point…they take out a “operating expense” before handing it over to the Federal Gov. Now who doesn’t want to know what that amounts to and WHO actually holds the PRIVATE shares of stock (the Federal Gov. doesn’t even know).
Someone correct me if I am wrong here, but is the Fed not unconstitutional because the power of coin money and fix the standard of wieghts and measures was assigned to congress. Period. Not to a private orginization authorized BY congress, but to CONGRESS. Congress was not giventhe power to delegate this authority at any point in the constitution that I am aware of.
I am, however, aware that the 10th amendment states that all powers not granted to the central government per the constitution are reserved for the states and the people. We didn’t vote the fed into existance.
So, as I understand it, the constitution didn’t say it can exist, and the people didn’t say it can exist, then it is unconstitutional. Have I got that right?
[...] The Anti-Fed Fact Sheet By fredface Full View [...]
[...] Check this huge graphic out: The Anti-Fed Fact Sheet. (VisualEconomics) [...]
The demand for neutrality in every case has more to do with philosophical dogma than it does with science. When the facts point to a real problem, it is pointless to manufacture another set of facts to “counter-balance” the reality. That isn’t science; that’s sophistry.
Anyone who knows there history and understands the origins of the centralized bank knows what is happening is completely controlled and set to happen on purpose.
The failures we are seeing now are built into the sytem, it cant be avoided when every dollar that is created is done so out of debt or interest. So if EVERY dollar that is created comes with a immediate debt or interest attached to it where does the money come from to pay off the interest? It comes from no where, the FED has to continually inflate the currency to be able to pay off the interest on the money that already exsists in circulation. Well we all know the more you inflate the currency the less our dollar means which leads to the exact problems we are facing now!! We need to realize the FED is a criminal element that has destroyed our government and country. We need to get them the hell out of our lifes rather then just audit there services. Because this system of corruption was never meant to sustain a large mass of people, only the small few at the top of this pyramid!!
I really wish people would stop perpetuating this nonsensical idea that the federal reserve is unconstitutional. It’s not.
While Congress wasn’t explicitly given the power to delegate, it was given the power to do everything it deems “necessary and proper” to do what it has been given the authority to do. What is to be considered “necessary and proper” is up to Congress. Moreover, it’s given the power to regulate interstate commerce; if Congress decides the federal reserve is necessary and proper, then it’s within Congress’s ability.
Congress, under our Constitution does NOT have the power to delegate the power to create laws to ANY other entity. Only congress can make laws. The FCC cannot make laws. The FED cannot make laws. Only congress has that authority under the Constitution.
Therefore, the Fed is unconstitutional, and congress has violated it’s powers under it. The Constitution IS the law of the land, and no one is above the law.
The_Omegaman
United States Constitution
Article I
Section 1. All legislative powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and House of Representatives.
Legislate: Make laws, bills, etc. or bring into effect by legislation.
Congress is the ONLY entity allowed to make laws, period. Therefore, all federal agencies which make their own laws, other than congress (both house and senate), are unconstitutional. These bills, to become law must also meet other Constitutional requirements, such as signature of the president, or if the president veto’s, overriding of veto by 2/3s of both houses of congress.
Omegaman
Well, USA as any other empire will collapse sooner or later. The question is: where will it transform after collapse. Carefully read the history and observe.
Look at Roman Empire, Byzantine Empire, Ottoman Empire, The Golden Horde, British Empire, USSR, etc. If you put all those megaempires that virtually ruled the world in a timeline, you will find that as the world progresses the half life for empires shortening exponentially.
USA will collapse as there’s no enemy for it. It did what it should do. Russia and China out-played by jumping on the same boat of captialism. However, the difference is that those countries have their own boat in the dock, which is not the case for USA.
Still, I think that American capitalists will move their capitals into other parts of the world. The globalization heavily financed by the USA (read, capitalists) at the expense of American people’s future (read, taxes, etc.) is just a foundation of the plot, new foundation to move their capitals across the globe.
Again, read the history of biggest empires and you will find many more similarities. I believe those powerful and rich people in America know what’s in the end, and therefore plan to survive.
[...] Fuente original [...]
[...] Thank Bernie Sanders for standing up to Wall Street and putting a “hold” on Ben Bernanke. Add your name to those who have his back. VisualEconomics.com: The Anti-Fed Fact Sheet [...]