by Anthony Migchels — (henrymakow.com) July 15, 2013
Controversy continues to rage about Central Bank ownership. Most major Central Banks, except for the Fed, are publicly owned. However: this is not really important. Control is what matters and Central Banks are controlled by the Money Power, i.e. the Rothschild syndicate, whether private or publicly owned.
The shocking realization that the Federal Reserve Bank is privately owned by its member banks is one of the defining moments in any truthseeker’s life. Eustace Mullins, coached by the indefatigable Ezra Pound, wrote ‘The Secrets of the Federal Reserve’, listing the banks owning the system. Ed Griffin then infamously plagiarized this book with his ‘Creature of Jekyll Island’, to push the John Birch/Libertarian Gold Standard. We’re still dealing with this today, as seen in the ‘End the Fed’ movement.
The FED itself is now starting to move against its critics, claiming they ARE a Government institution, although partly independent. As Central Banks should be, which is today’s conventional wisdom in the Mainstream.
Here’s some text from the link, from the Fed itself:
“The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation’s central banking system, are organized similarly to private corporations-possibly leading to some confusion about “ownership.” For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. 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. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.”
So while the Fed tries to downplay private ownership, it does not deny it. Its stock cannot be traded, but this is not a limitation; it’s a sure way of keeping outsiders out. After all, it’s a club, and we’re not in it. Furthermore, a dividend of 6% per year is not bad.
On the other hand, after paying its shareholders, the Federal Reserve returns what remains to the US Government, so it’s not entirely fair to say that the Fed is printing money and then has the State pay interest on it. It refunded $89 billion in interest in 2012 after taking its 6% dividend cut. The private banks do most of the money creation by far.