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Old February 12th, 2008, 09:13 PM   #1
Scofflaw
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Default The FED not private bank???

STOCK ISSUES; INCREASE AND DECREASE OF CAPITAL.
Provision for increase or decrease.
12 USC Sec. 287 SEC. 5. 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 additonal 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 additonal amount of capital stock of the Federal reserve bank of its district equal to six per centum of the said increase, one-half of said subscription to be paid in the manner hereinbefore provided for original subscription, and one-half subject to call of the Federal Reserve Board.

Division of earnings.DIVISION OF EARNINGS.
Annual dividends.SEC. 7. After all necessary expenses of a Federal reserve bank have been paid or provided for, the stockholders shall be entitled to receive an annual dividend of six per centum on the paid-in capital stock, which dividend shall be cumulative. After the aforesaid dividend claims have been fully met, all the net earnings shall be paid to the United States as a franchise tax, except that one-half of such net earnings shall be paid into a surplus fund until it shall amount to forty per centum of the paid-in capital stock of such bank.

Tax exemption.
12 USC 3019Federal reserve banks, including the capital stock and surplus therein, and the income derived therefrom shall be exempt from Federal, State, and local taxation, except taxes upon real estate.
National banks.SEC. 8. Section fifty-one hundred and fifty-four, United States Revised Statutes, is hereby amended to read as follows:
Conversion of State, etc., banks into.
R. S., sec. 5154, p. 996, amended.Any bank incorporated by special law of any State or of the United States or organized under the general laws of any State or of the United States and having an unimpaired capital sufficient to entitle it to become a national banking association under the provisions of the existing laws may, by the vote of the shareholders owning not less than fifty-one per centum of the capital stock of such bank or banking association, with the approval of the Comptroller of the Currency be converted into a national banking association, with any name approved by the Comptroller of the Currency:

http://http://landru.i-link-2.net/monques/FR1.html


It should be added that all money used in this country, by our government and by us the people is actually borrowed money from the Federal Reserve in which interest must be paid. Interest that goes to pay the shareholders.

Who are these shareholders???

the Rothschilds of London and Berlin
the Lazard Bros. of Paris
Isreal Seiff of Italy
Kuhn-Loeb Co. of Germany
the Warburgs of Amsterdam and Hamburg
Lehman Bros. of N.Y.
Goldman & Sachs of N.Y.
and the Rockefellers of N.Y.


"For more than a century ideological extremists at
either end of the political spectrum have seized upon
well-publicized incidents ... to attack the Rockefeller
family for the inordinate influence they claim we
wield over American political and economic
institutions. Some even believe we are part of a secret
cabal working against the best interests of the
United States, characterizing my family and me as
'internationalists' and of conspiring with others
around the world to build a more integrated global
political and economic structure - one world, if you
will. If that's the charge, I stand guilty, and I am proud of it."
- David Rockefeller, "Memoirs" autobiography (2002, Random House publishers), page 405


"Give me control of a nations money supply,
and I care not who makes its laws."
-Mayer Rothschild
Private Banker
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