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Korean Job Discussion Forums
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MollyBloom
Joined: 21 Jul 2006
Location: James Joyce's pants
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 Posted: Sun May 24, 2009 3:32 am Post subject: |
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| redaxe wrote: |
| the Federal Reserve is not owned by the U.S. Government |
Well, that part actually IS true. The US govt sold their Fed. Res. in 1913. |
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hogwonguy1979
Joined: 22 Dec 2003
Location: the racoon den
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| Posted: Sun May 24, 2009 3:49 am Post subject: |
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| redaxe wrote: |
Oh, I just remembered another great part about working in a Korean office--random, inexplicable anti-Semitism. A guy in my department tries to make conversation with me at the lunch table by asking me if I know that the Federal Reserve is not owned by the U.S. Government and is actually controlled by a secret Jewish conspiracy.  |
next time he mentions that send him to www.infowars.com he'll love it  |
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moosehead
Joined: 05 May 2007
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| Posted: Sun May 24, 2009 6:06 am Post subject: |
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| redaxe wrote: |
| Oh, I just remembered another great part about working in a Korean office--random, inexplicable anti-Semitism. A guy in my department tries to make conversation with me at the lunch table by asking me if I know that the Federal Reserve is not owned by the U.S. Government and is actually controlled by a secret Jewish conspiracy. |
here you go:
| Quote: |
Who owns the Federal Reserve?
The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.
As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."
The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like 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. |
from:
http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm |
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cocojojo
Joined: 21 Oct 2008
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| Posted: Sun May 24, 2009 7:48 am Post subject: |
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| Quote: |
| Oh, I just remembered another great part about working in a Korean office--random, inexplicable anti-Semitism. A guy in my department tries to make conversation with me at the lunch table by asking me if I know that the Federal Reserve is not owned by the U.S. Government and is actually controlled by a secret Jewish conspiracy. |
Hey redaxe did you hear that story from when XXX the Israeli company came to visit? Apparently there was a nose comment that was not well received. |
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Mr. Pink
Joined: 21 Oct 2003
Location: China
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| Posted: Sun May 24, 2009 9:53 am Post subject: |
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| cocojojo wrote: |
| Quote: |
| Oh, I just remembered another great part about working in a Korean office--random, inexplicable anti-Semitism. A guy in my department tries to make conversation with me at the lunch table by asking me if I know that the Federal Reserve is not owned by the U.S. Government and is actually controlled by a secret Jewish conspiracy. |
Hey redaxe did you hear that story from when XXX the Israeli company came to visit? Apparently there was a nose comment that was not well received. |
LOL this reminded me of a conversation I had with a Korean. I have a fair size nose and so the Korean asked me "are you Jewish?" Needless to say I was pretty surprised as the line of thinking and the comment was so out of place to the rest of the conversation. The kick in the nuts was this person knew I was Christian and Canadian...but the nose thing must have bypassed those logical facts.
I wonder if one reason I say off the wall crazy stuff is drinking too much Korean water  It seems that part of the culture rubbed off on me, and ppl don't take kindly to it in the West. |
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jdog2050
Joined: 17 Dec 2006
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| Posted: Mon May 25, 2009 12:17 am Post subject: |
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| moosehead wrote: |
| redaxe wrote: |
| Oh, I just remembered another great part about working in a Korean office--random, inexplicable anti-Semitism. A guy in my department tries to make conversation with me at the lunch table by asking me if I know that the Federal Reserve is not owned by the U.S. Government and is actually controlled by a secret Jewish conspiracy. |
here you go:
| Quote: |
Who owns the Federal Reserve?
The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.
As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."
The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like 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. |
from:
http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm |
Nope, the fed is indeed private. |
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