Talk:Federal Reserve

https://newswithviews.com/can-banks-dump-the-fed/

Biden Orders Federal Reserve to ‘Explore’ Digital Cash, March 28, 2023 – “Lawrence Kadish, who is on the board of governors of the organization, wrote that Biden’s “little-noticed” plan for “digital cash” appeared recently in an executive order. “In fact, “this order includes language that allows the Federal Reserve System to ‘explore’ the possibility of introducing digital currency into the United States,” he wrote.

“This means that your cash becomes so much colored paper.” Under this new digital currency, any transfer of funds to family, friends, charities, or clients would be able to be tracked by the nation’s central bank that issued this virtual money.

“Big Brother will be in your wallet every hour or every day.” Is a digital currency in America’s future? “You will not be able to buy a stick of gum without a Federal Reserve computer knowing where, when, and to whom you just put down a buck,” Kadish warns.” End.

Some central banks have dropped out of the digital currency race: “There are at least four countries that have either scrapped or halted CBDC plans so far, and each central bank has its own reasoning for not launching one.” JPMorgan Chase, State Street push back against CBDC, Aug. 29, 2022

States need to say no: North Carolina joins FL, SD against digital dollar as states becomes key CBDC battleground, May 4, 2023

“This Act establishes the most gigantic trust on earth. When the President signs this Act the invisible government by the Money Power, proven to exist by the Money Trust Investigation[1], will be legalized. The new law will create inflation whenever the trusts want inflation. From now on depressions will be scientifically created.” —Charles A. Lindberg, Sr., at the time of the passage of the Federal Reserve Act in 1913.

What about banks who don’t want to be part of all this?

A large number of central Banks, with BIS (Bank of International Settlements)[2] being the central banks headmaster are going all in because it’s all about the money honey. It’s also about complete control of every transaction you make. Several countries are already freezing people’s accounts based on their political affiliations or exposing truths like the COVID Plandemic.

But, what about smaller banks and credit unions? Banks whose owners/Board/CEO’s who know the truth and do not want to be part of the destruction? Remember, these schemes are tied to the “Federal” Reserve. Is Hometown Bank in the mid-west (imaginary name) or my federal credit union here locally required under the Federal Reserve Banking Act of 1913 to be part of their system?

The reserve banks’ design (Senate RPC, chairwoman, Sen. Joni Ernst) (Emphasis mine.)

“Under the Federal Reserve Act of 1913, an organization committee set the boundaries for 12 Fed districts and chose where to put the reserve banks. The law required each reserve bank to have at least $4 million in capitalization and to be funded by the commercial banks that were Fed members in the district. National banks must become Fed member banks; state-chartered banks may become members but are not required to. In general, a member bank must buy capital stock in its district’s Federal Reserve bank that equals 6% of its capital and surplus. It pays half the amount, and the other half is on call.”

In the glowing BS at the link above, it gushes what a wonderful job the Fed did during the manufactured COVID hysteria managing the country’s money! Sure they did.

Our economy is huge and it takes a while for the disintegration to reach a point where the pile of ashes can no longer be ignored. Think 2008.

Half of America’s banks are potentially insolvent – this is how a credit crunch begins, May 2, 2023 // Fed, Central Banks Created The Current Crisis And Are On Course To Making Matters Worse, March 22, 2023 // Central Banks Must Now Hyperinflate As Minsky Moment In “Ponzi Finance” Looms, March 28, 2023

What’s a national bank? “In the U.S., a national bank is a commercial bank chartered by the U.S. Treasury.”

What’s a state-chartered bank? “Non-member banks refer to banks that are not members of the U.S. Federal Reserve System, typically state-chartered banks.

“State-chartered banks may ultimately decide to refrain from membership under the Fed because regulation can be less onerous based on state laws and under the Federal Deposit Insurance Corporation (FDIC), which oversees non-member banks. Other examples of non-member banks include the Bank of the West and GMC Bank.”

What is a chartered bank? “Chartered banks provide core financial intermediary services necessary in today’s economy. Individuals can easily deposit their funds into various types of accounts within a chartered bank, earning interest on their temporary savings. Chartered banks maintain a float of currency so they can process customers’ daily transactions, but they lend out the majority of their deposits to individuals and commercial borrowers to stimulate economic growth.”

One such chartered bank is Old Glory Bank in Oklahoma and FDIC insured: “Old Glory Bank is blessed to have great co-founders and thought leaders such as John Rich, Larry Elder, Dr. Ben Carson, and Governor Fallin. Additionally, behind the scenes, we have a large senior management team of humble patriots who are working nonstop to deliver great products, brand values, and services to our Old Glory Nation.™”

How secure is my money? – “Old Glory Bank is a chartered, FDIC-insured bank. So, as secure as it can get. Customers are insured by the FDIC up to $250,000 per depositor.

Is Old Glory Bank a real bank? – “Yes. Old Glory Bank (formerly known as First State Bank) is a 120-year-old, FDIC-insured Bank, from Elmore City, Oklahoma.

What does Old Glory Bank stand for?

“Old Glory Bank is named for the American Flag. As a bank, we will openly support our country, flag, military, police, and the people we call the engine of America—the hard-working patriots who make this country run every day. If you believe in freedom, liberty, security, faith, and family, we will be your bank. We won’t cancel law-abiding customers for their beliefs. We will protect your security and privacy. We support your business and livelihood—regardless of your industry. Whether you’re in the oil business, a firearms retailer, or a meat producer, Old Glory Bank will be the bank for you. We stand with you. No matter where you stand.”

Credit unions: Supervision and regulation

“The Federal Reserve does not supervise or regulate credit unions. Federally chartered credit unions are regulated by the National Credit Union Administration, while state-chartered credit unions are regulated at the state level.

“The Fed is one of several banking regulatory agencies at the federal level. State-chartered banks are supervised and regulated at both the state and federal levels. At the state level, state-chartered banks are regulated by their state banking regulator. At the federal level, state-chartered banks are regulated by either the FDIC or, if they choose to be members of the Federal Reserve System, by the Federal Reserve.”

Changing banks is always a hassle – especially if your mortgage and vehicle payment is auto deduct like mine. But, I would never have any account at JP Morgan Chase, B of A, Wells Fargo or any of those big names who think nothing of canceling out someone’s account for purely political bias. Not to mention globalists at the highest levels who really don’t give a damn about you. I’ve been a credit union person since the 1980’s. One either takes a stand or gets trampled – even when it’s a hassle.

Americans who are well informed about what’s really going on with the economy know big trouble is brewing. The Federal Reserve Is the Root Cause of the Banking Crisis

Banking Solvency Problems Are Everywhere And The Backstop Guarantee Is Worthless – “The reality is that central banks have already lost control over monetary policy and interest rates. Interest rates are now being driven by contracting bank credit, not by monetary policy. The point which is commonly missed is that contracting credit at a time when credit demand is still increasing inevitably leads to higher interest rates and bad debts.

“Having lost control over interest rates, the Fed has been forced into its much-heralded pivot, not by reducing interest rates, but by offering to buy Treasury and Agency debt at face value whatever the coupon and maturity. This rescues banks from the immediate fate that collapsed Silicon Valley Bank. And it makes it easier for the US Treasury to fund its deficit while containing borrowing costs.

“But it is highly inflationary. The pivot has now been made. The Fed has decided to rescue financial markets at the expense of the currency. Other central banks can be expected to follow suit to help rescue their banking systems. But in the process, they are writing the death warrants for their fiat currencies.”

I hope this column provides you with helpful information about banks like Old Glory and I say good for them! You don’t have to live in Oklahoma to have an account with them. If I owned a bank or was part of the board, I would do everything in my power to become state-chartered or chartered.

Of course, that doesn’t solve the problem of fiat currency but it helps dilute the “Feds” power base and control. Digital currency isn’t going to solve their problems, either. At some point, the “Fed” is going to fall off the cliff and real economic experts know it likely isn’t far off.

USE CASH EVERYWHERE YOU CAN.

For a thorough, comprehensive education on the Fed, the income tax, education, Medicare, SS, the critical, fraudulent ratification of the Seventeenth Amendment and more, be sure to order my book by calling 800-955-0116 or click the link, “Taking Politics Out of Solutions“. 400 pages of facts and solutions. Order two books and save $10.00

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National banks are chartered and regulated under federal laws and are supervised by a central agency. State banks are chartered and regulated under state laws and are supervised by a state agency.

More than one-third of U.S. commercial banks are members of the Federal Reserve System. National banks must be members; state chartered banks may join by meeting certain requirements.

banks are typically for-profit institutions while credit unions are not-for-profit and distribute their profits among their members. Credit unions also tend to serve a specific region or community.

Because credit unions are member-owned and -run, they can often offer higher interest rates on deposit accounts than many banks. Credit unions are also exempt from federal taxes, allowing them to pass along those savings to members.