Who Owns and Controls the Federal Reserve?
Prelude: A contact of mine at a major NY investment house sent along a great rebuttal to all of the to all of the hysterical conspiracy theories being propagated by countless websites lately, such as mine. Having read through it twice now, I think it does answer quite a few of the looser-ends relating to questions about who controls our monetary system, and by what means. But it does not answer all of them.
One of the main admissions in the following analysis is that the only way to examine exactly how the biggest banking system in the world operates, and exactly who benefits from it, is impossible to ascertain by direct examination; the Federal Reserve System still appears to ultimately answer only to itself.
I am not convinced either way of a massive conspiracy or - as some readers pointed out - the likelihood that there are multiple factions of more or less equivalent power and influence who are constantly vying for control of the Fed and every other entity that may prove advantages in business affairs.
No secret there.
That is the way the American system of capitalism has been operating for as long as it has existed. Powerful people work to expand their influence, and rules and procedures for industry are established through the spoils of politics. No one is surprised by that either.
Another aspect of our collective soul is the American sense of fair play, especially when it applied to ourselves. That is why it is so curious that there is such a complete and utter lack of transparency at the upper most echelons of our financial system. That seems to run contrary to the standards we as Americans seem to demand be applied to most everything else of any import whatsoever.
I mean, my son plays freshman football for his high school where they have five referees and line judges scrutinizing every single move those kids make, and to such a degree as to make the SEC, FDIC, OTS and all the other formerly non-interventionist bureaucracies look like large, dull, blunt, ineffectual and completely inanimate objects.
Why no independent audits of the Federal Reserve System? Why not have the kind of disclosure that every other financial organization has to supply? That would be the easiest was to shut everyone up, and put the issue to bed for good.