[Rbigfatty]

What US dept formulates and implements and implements monetary policy?

[RickJ]

Monetary policy is made by the Federal Open Market Committee, which consists of the Board of Governors of the Federal Reserve System and the Reserve Bank presidents.

[Source, and more info]

[mr.yet]

Federal Reserve System is a private corporation which has nothing to do the Federal government, except they loan the Government money, by putting it into circulation.

"If the American people ever allow private banks to control the issue of their currency, first by inflation and then by deflation, the banks and the corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."

Thomas Jefferson

"We must take away from this the stigma of private enterprise. We must convince the people that it is a governmental agency. We must call it the Federal Reserve System. Then everybody will think that it is a government organization and that it is constitutional. But actually it will be in the control of the bankers for their own private benefits."

Paul M. Warburg, first chairman of the Federal Reserve

Is the Fed Part of the U.S. Government?

Though few people realize it, the Federal Reserve System is not a part of the federal government. It is a private corporation which has been granted a monopoly over our money system to its own advantage, at your expense.

For example, in 1982, a man by the name of John J. Lewis was injured by a vehicle owned and operated by one of the federal reserve banks. The Fed tried to claim that since they were a part of the U.S. government, they could not be sued. In case #80-5905, U.S. Court of Appeals, Ninth Circuit, held that:

Federal reserve banks are not federal instrumentalities... but are independent, privately-owned and locally controlled corporations in light of fact that direct supervision and control of each bank is exercised by board of directors, federal reserve banks, though heavily regulated, are locally controlled by their member banks, banks are listed neither as "wholly owned" government corporations nor as "mixed ownership" corporations; federal reserve banks receive no appropriated funds from Congress and the banks are empowered to sue and be sued in their own names. [28 U.S.C.A. 1346(b), 2671 et seq.; Federal Reserve Act, 4, 10(a,b), 13, 13a, 13b, 14, 14(a-g), 16, 12 U.S.C.A. 301, 341-360; 12 U.S.C.A. 361; Government Corporation control Act, 101, 201, 31 U.S.C.A. 846, 856.]

In fact, the Fed is not even legally close to being a governmental agency or any part of the U.S. government. In a decision by the Supreme Court a decade earlier, (United States v. Orleans, 425 U.S. 807, 96S. Ct. 1971, 48L. Ed.2d 390 (1976), a type of organization called a "community action agency" was denied status as a federal agency because even though it was organized under federal regulations and heavily funded by the federal government, it's day-to-day operations were not supervised by the federal government, but by local officials.

So, a private corporation controls the money for the Feds, the Feds pays the Federal Reserve interest on all money provided to the Federal Government.

Doesn't seem quite fair to the average person in this country.

Just information I have found.

[mr.yet]

More on the Federal Reserve System, Owners revealed>

THE FEDERAL RESERVE BANK IS A PRIVATE COMPANY.

Article 1, Section 8 of the Constitution states that Congress shall have the power to coin (create) money and regulate the value thereof. Today however, the FED, which is a privately owned company, controls and profits by printing money through the Treasury, and regulating its value.

The FED began with approximately 300 people or banks that became owners (stockholders purchasing stock at $100 per share - the stock is not publicly traded) in the Federal Reserve Banking System. They make up an international banking cartel of wealth beyond comparison (Reference 1, 14). The FED banking system collects billions of dollars (Reference 8, 17) in interest annually and distributes the profits to its shareholders. The Congress illegally gave the FED the right to print money (through the Treasury) at no interest to the FED. The FED creates money from nothing, and loans it back to us through banks, and charges interest on our currency. The FED also buys Government debt with money printed on a printing press and charges U.S. taxpayers interest. Many Congressmen and Presidents say this is fraud (Reference 1,2,3,5,17).

Who actually owns the Federal Reserve Central Banks? The ownership of the 12 Central banks, a very well kept secret, has been revealed:

Rothschild Bank of London Warburg Bank of Hamburg Rothschild Bank of Berlin Lehman Brothers of New York Lazard Brothers of Paris Kuhn Loeb Bank of New York Israel Moses Seif Banks of Italy Goldman, Sachs of New York Warburg Bank of Amsterdam Chase Manhattan Bank of New York (Reference 14, P. 13, Reference 12, P. 152)

These bankers are connected to London Banking Houses which ultimately control the FED. When England lost the Revolutionary War with America (our forefathers were fighting their own government), they planned to control us by controlling our banking system, the printing of our money, and our debt (Reference 4, 22).

The individuals listed below owned banks which in turn owned shares in the FED. The banks listed below have significant control over the New York FED District, which controls the other 11 FED Districts. These banks also are partly foreign owned and control the New York FED District Bank. (Reference 22)

First National Bank of New York James Stillman National City Bank, New York Mary W. Harnman

National Bank of Commerce, New York A.D. Jiullard

Hanover National Bank, New York Jacob Schiff

Chase National Bank, New York Thomas F. Ryan Paul Warburg William Rockefeller Levi P. Morton M.T. Pyne George F. Baker Percy Pyne Mrs. G.F. St. George J.W. Sterling Katherine St. George H.P. Davidson J.P. Morgan (Equitable Life/Mutual Life) Edith Brevour T. Baker (Reference 4 for above, Reference 22 has details, P. 92, 93, 96, 179)

How did it happen? After previous attempts to push the Federal Reserve Act through Congress, a group of bankers funded and staffed Woodrow Wilson's campaign for President. He had committed to sign this act. In 1913, a Senator, Nelson Aldrich, maternal grandfather to the Rockefellers, pushed the Federal Reserve Act through Congress just before Christmas when much of Congress was on vacation (Reference 3, 4, 5). When elected, Wilson passed the FED. Later, Wilson remorsefully replied (referring to the FED), "I have unwittingly ruined my country" (Reference 17, P. 31).

[nervouzpeoples]

Mr. Yet,
Let me pick your brain.

I have a couple of questions for you. After reading your posts I got that the Fed is actually not owned by the board and the council and vice council running it. How is inflation really monitored? And why do some people think that they actually have some say in the implementing of monetary policy? I don't see how we, the people, have any control or say on how this thing is done. Why do you thing that inflation is widely feared? I guess I live in Virginia and I feel that I pay way too much for everything anyway-taxes is out of this world. In this state I pay way too much and receive way too little in pay anyway. Lastly, what is the difference in an high school's student inflation compared to an employed urban adult?

[mr.yet]

Read this:The Creature from Jekyll Island, The Federal Reserve,

The Creature from Jekyll Island, The Federal Reserve, talk by Edward Griffin

The Creature from Jekyll Island: Information and Much More from Answers.com