The Federal Reserve is an independent agency, it's not federal.
Mitt Romney at :45 seconds "it's important to have the Fed as an independent agency, I don't think you want to have Congress trying to pull strings at the Fed" LINK
Alan Greenspan at :11 seconds "well first of all, the Federal Reserve is an independent agency, which means basically there is no other agency of government that can overrule actions that we take". "What the relationships are don't really matter". LINK
A 10 minute video, not sure many of you will have the patience to watch it. But if you do, you'll know without a doubt the Federal Reserve is independent. "I've unwittingly ruined my government" - Woodrow Wilson LINK
LSURUSSIAN, I've got Alan Greenspan and Mitt Romney saying "the Federal Reserve is independent", I have a longer video explaining it's independence, and the first page of this thread has the comment "everyone on this board is aware of this" in response to my OP. I mean this is almost a joke, I've proven you're wrong without a doubt... are you going to man up and concede? Or are you going to continue to play "push the page down" with immature comments and posting my picture?
The first audit of the Federal Reserve in it's nearly 100 years of existence showed 16 Trillion dollars were given away to failing banks and corporations. The 800 billion TARP bailout was just chump change. Goldman Sachs alone received 814 billion.
Here is a list of institutions that received the most money. So no, the Fed has not been run by Congress, it's been run by itself. It's independent and has been lining the pockets of foreigners since it's inception. These gifts are only post 2008 financial crisis. This is why Bernanke fought for years against an audit of the Fed.
Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many many more including banks in Belgium of all places LINK LINK
Is this where I get to say 'boom' and drop one of those bomb gifs?
This post was edited on 12/6 at 1:27 pm