Ben Bernanke's Lecture Series on The Fed and Crisis

Discussion in 'Nobody Cares' started by iwish6million, Jun 9, 2013.

  1. iwish6million

    iwish6million
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    Let me start off by saying that here is the sauce:
    http://www.federalreserve.gov/newsevents/lectures/origins-and-mission.htm

    I just started watching this but the first sentence that came out of his mouth to start the lecture was, "A central bank is not a regular bank, its a government agency".

    We all know that the Federal Reserve isn't a government agency. It is a privately owned enterprise, as shown here:
    Lewis v. United States, 680 F.2d 1239 (1982)
    "2. United States

    Federal reserve banks are not federal instrumentalities for purposes of a Federal Tort Claims Act, 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. . . ."

    So the question is, how the fuck is this faggot still aloud to remain alive? He is literally standing in front of students telling them that central banks are government agencies.

    Also I would like to point out that good ol' Benny often sounds like he is about to piss his pants.