Does anyone know that the Federal Reserve Bank is not part of the government?

Question

The Federal Reserve Bank is owned by a few large banks. It prints money for the United States Government. The money it prints is a loan to the citizens of the United States. That is why you pay taxes through your paycheck. Do you know that payroll taxes are illegal?

http://www.freedomtofascism.com
Watch this. Do your own research? Try to think. Instead of acting like a bunch of sheep.

The printing of money is authorized by the Federal Reserve Bank

Answer 1

I found the film "Freedom to Fascism" to be intellectually dishonest and a vehicle for the filmmaker to further his political beliefs with out-of-context quotes and blatant misformation.

Your advice is good to "Do your own research" and not rely on agenda-driven documentaries. For instance...

- Research how the Federal Reserve system is organized and controlled. (see http://www.federalreserveeducation.org/fed101/structure/ )

At the top is the Board of Governors who are all appointed by the president and confirmed by congress. It is illegal for any of these governors to work for any bank or even own stock in a bank ( http://www.law.cornell.edu/uscode/search/display.html?terms=governors&url=/uscode/html/uscode12/usc_sec_12_00000620----000-.html , http://www.law.cornell.edu/uscode/html/uscode12/usc_sec_12_00000242----000-.html ) Note that there is no structure for private ownership at this level.

Below the Board of Governors are the branches which are indeed organized like corporations and whose members must buy shares. Member banks get a standard 6% dividend on their shares. The rest of the profits (about 98%) is given to the Treasury. The branches are overseen and regulated by the Board of Governors.

- Research how money enters circulation - The Fed buys T-notes on the open market. Since the T-Note is on the open market, this is not a new loan. When the Fed owns the T-Note, 98% of the interest is returned to the Treasury.

- Research why people like the filmmaker believe payroll taxes are illegal.

http://en.wikipedia.org/wiki/Tax_protester_arguments
http://en.wikipedia.org/wiki/Tax_protester_constitutional_arguments
http://en.wikipedia.org/wiki/Tax_protester_statutory_arguments
http://en.wikipedia.org/wiki/Tax_protester_conspiracy_arguments

Answer 2

The federal reserve is authorized by the Federal gov't to do what it does. It does not print money, the US Treasury, which is a gov't entity, does that. But the reserve still has a lot of control over what our money is "worth". More reason to own physical gold and silver.
As far as taxes, congress passed several laws in the early-mid 1900's authorizing tax changes using the war to stress the need. The current withholding of taxes, which became effective in July 1943, negated the wording in the founding fathers' document that so many people like to point to to "prove" that withholding is illegal. Right or wrong, its not illegal because the body of gov't that writes the laws declared it legal. After more than 50 years of people fighting it, I seriously doubt if there are any real "loopholes" left open as so many scammers try to claim.

Answer 3

money is printed by the us mint, in washington, dc. i literally have been there and watched it.

if, as you say, payroll taxes are illegal, why doesn't the entire government go to jail for taking them out of our wages? why don't all the comptrollers that prepare payroll go to jail along with the government? why don't you sue the government for committing an illegal act, so that it can pay you for criminal damages done to you?

wouldn't it be great if payroll taxes were illegal? what would be even better, if they are as legal as i know they are, if uncle sam paid us interest on the money he collects? gee, he makes a ton of interest with our money, so why won't he give us any back, like a bank does?

where did you get this strange information? write it out to me at my address that is posted here please.

Answer 4

um...the US Mint prints the money...not the Federal Reserve....

Answer 5

That's amazing!!!! Do you think if we all march up to the "government" and tell them what you said that they will refund all of the illegal money that we've paid them?

Answer 6

gene, so what.