The Federal Reserve system… in reality it is a cartel. In other words it’s no different, in essence, than a banana cartel or a sugar cartel or an oil cartel. It’s a grouping of the large private corporations in the field, banking, who have come together to create an agreement between themselves to limit competition, to preserve profits and to make sure no newcomers come in and take away their position. That’s what cartels are always designed to do. And it’s a shocking thing to realize that something as prestigious as the Federal Reserve System at its core is nothing more or less than a banking cartel with exactly those same objectives.
According to accidental releases of Fed stock holder information… in 1983, five member banks own 53% of the stock in the Federal Reserve Bank of New York. The most major of the 12 Federal Reserve banks around the country. This is a controlling interest in the controlling bank. The major stock holders of this major bank, however, are confidential. No one, not even the government or President of the United States, knows who they are. Nor can they find out.
The market has set prices and wages on the basis of what it believes to be the total amount of money in circulation. Along come the banks and they start generating new money that the market doesn’t know about…
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