Saturday, October 8, 2011

What Governor Runs the Federal Reserve Bank?

What Governor Runs the Federal Reserve Bank?

A guy asks, "what state governor runs the Federal Reserve Bank"?  The question is like asking "what rifle does the pope use when he goes hunting?"  I think we can all safely agree the pope doesn't go hunting, and probably is forbidden from hunting.

President Jackson Made it His Life's Work to Kill the Central Bank
The Federal Reserve Bank is not a federal entity, nor is it publicly funded "in theory".  It is a private bank, just like Bank of America, Chase Bank and Wells Fargo.

No politician has anything to do with it, nor can they even be present in their private meetings.  In fact the government has about as much to do with the Fed as they do with my local credit union, which has far more privacy than Wells Fargo.

In 1798, Thomas Jefferson said the following....
"I wish it were possible to obtain a single amendment to our Constitution - taking from the federal government their power of borrowing."

So your question is completely wrong.  Sorry to say.  No state governor is over any part of the Federal Reserve bank, nor its regional banks.  The entire system is completely privately owned banks.  They have tried their best to acquire banks into their system.  If your bank uses them to verify funds before cashing checks, they are hooked into the system.  If your bank sends checks for them to verify the check itself, they are hooked in the system.  If you can imagine, banks get hundreds of checks each day, directly and indirectly.

Gouverneur Morris, one of the authors of the U.S. Constitution, solemnly warned us in 1787 that we must not allow the bankers to enslave us....
"The rich will strive to establish their dominion and enslave the rest. They always did. They always will... They will have the same effect here as elsewhere, if we do not, by (the power of) government, keep them in their proper spheres."

The only way local banks can avoid being under the Fed is by not using any of their programs or by not selling to a larger bank that is already under the Fed.

Rich Bankers Drafted the Federal Reserve Act in Secret
The Fed runs as any corporation.  They have a board and a chairman.  The current chairman is Ben Bernanke. By statute the president is allowed to pick the chairman.  However, this is merely ceremonial, as everyone on the board and the chairman are picked for him.  You can see this clearly, by the fact that Bernanke, who was chosen by a Republican president, was also kept by a Democrat president.  Normally, in politics, any political candidate for a position is always picked based upon the political party of the politician in question, i.e. liberal judges are picked by Democrat presidents and legislature and visa versa for conservative judges.

Clearly the Fed is outside of that political system, altogether.

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