The Federal Reserve Is Private

Founded December 23, 1913. The bill passed in the dead of night, after most of Congress had gone home for Christmas recess. By design. The bill's primary author was not a congressman. The bill's primary author was Paul Warburg, a private banker, working in secret on Jekyll Island with REDACTED and Nelson Aldrich. They went to the island in November 1910 under the cover of a "duck hunt." Records of the duck hunt were sealed for 95 years. The records were released in 2005. The records confirm: no ducks were hunted.\n\nThe Federal Reserve is owned by its member banks. Its member banks are owned by REDACTED. The dividend paid to member banks on their Fed stock is 6%, guaranteed by statute, paid in perpetuity, regardless of the Fed's actual earnings. This is in the Federal Reserve Act, Section 7. Look it up. We'll wait.\n\nThe Fed has never been audited. The Fed legally cannot be audited. The Fed sets the price of money — the most important price in the economy — through a committee of 12 unelected appointees, 7 of whom are explicitly representatives of the private banking industry. This is not a conspiracy theory. This is the structure. The conspiracy theory is the official narrative: that this structure is normal, sensible, and democratic.