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Editor’s Note: It occurs to me, reading the comments, that there is a general lack of knowledge as to the identity of the Federal Reserve. I thought people knew, but it is obvious that most people don’t know — including the media and the politicians and pundits. In a nutshell the Federal Reserve System IS a series of privately owned banks controlled by Wall Street — but regulated to a small degree by the Federal Government. It was created as a compromise between government (Roosevelt,Taft and Wilson Administrations) and JP Morgan (the person) and his first lieutenant Strong to exercise the same powers that Biddle used 100 years before when the Second Bank of the United States was used as a political player. Now there would be SOME restrictions, like the President naming the Chairman of the Federal Reserve System.

It is not a conspiracy theory from people needing medication. The Federal Reserve System is the lender of last resort and it IS owned and controlled (2/3) by private banks and individuals. The remaining directors are appointed by the President of the United States. But once they are in, they cannot easily be removed. The idea was and is a good one but typically for Wall Street they used it as a backstop for the bubble leading up to the 1929 crash, at which time Strong, the first Fed Chairman, had been dead two years with no successor appointed.

While Teddy Roosevelt went a long  way toward busting up the large “trusts” it was FDR that completed the job and decentralized banking for decades, preventing Wall Street from controlling our political affairs until the 1980’s. After getting a  50+ year rest from large banks sucking our lifeblood out, and unparalleled prosperity for most of the country, they managed to re-sell the idea that big was better and repealed, one by one, the various restrictions that had kept banks in check.

It is time, historically speaking, to let the pendulum swing the other way and get another 50+ year rest from these guys.

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submitted by Dying Truth

BlackRock
“The Federal Retirement Thrift Investment Board currently contracts BlackRock Institutional Trust Company, N.A. (BlackRock) to manage the F, C, S, and I Fund assets.

The Board invests the assets of the F, C, S, and I Funds in commingled trust funds managed by BlackRock. These trust funds are comprised of investments by tax-exempt institutions like the TSP, such as pension plans and endowments. Investing collectively in this way can be advantageous because it reduces trading costs. The securities held in these commingled funds are held in trust and they are not assets of BlackRock, nor can they be used to meet the financial obligations of BlackRock.” https://www.tsp.gov/investmentfunds/fundsoverview/fundManagement.shtml

Thrifts Savings Plan (TSP)
“SUBCHAPTER III—THRIFT SAVINGS PLAN”
“5 U.S.C. § 8438 Investment of Thrift Savings Fund”
“5 U.S.C. § 8440a Justices and judges”
“5 U.S.C. § 8440b Bankruptcy judges and magistrate judges” http://www.law.cornell.edu/uscode/5/usc_sup_01_5_10_III_20_G_30_84_40_III.html

Pacific Investment Management Co. (PIMCO)
Serves as a Financial Investment Advisor to the TSP

And we all know (or would know if it was said more loudly and clearly) that the FED has a conflict of interest because, Hey they right regulations for TILA

Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud |