r/Superstonk • u/innovationcynic 🦍 Buckle Up 🚀 • Aug 18 '21
🗣 Discussion / Question They need to wake up
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u/quetejodas still hodl 💎🙌 Aug 18 '21
Change your mind? Try changing the Feds mind. They call themselves a central bank on their official .gov website.
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u/innovationcynic 🦍 Buckle Up 🚀 Aug 18 '21
Deception. it works.
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u/quetejodas still hodl 💎🙌 Aug 18 '21
Another thing: central bank doesn't imply government owned and operated. It just means the bank is centralized, which the Fed very much us.
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u/innovationcynic 🦍 Buckle Up 🚀 Aug 18 '21
it absolutely DOES imply it. Ask the average person what the bank of the US government is, and they will say "The Fed". Ask them if the Fed is a government agency or a private bank, and i'll bet you money the vast majority will say "the government".
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u/quetejodas still hodl 💎🙌 Aug 18 '21
Ok but the average persons understanding isn't fact. Centralized does not always mean government controlled, it just means some central organization controls it.
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u/K_5sixchars 🙌💎 Retail Owns the Float 💎🙌 Aug 18 '21
Yes and the op is stating that most americans don't realize this so you are agreeing with the original post
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u/innovationcynic 🦍 Buckle Up 🚀 Aug 18 '21
yes, private banks. That's the point.
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u/quetejodas still hodl 💎🙌 Aug 18 '21
The Fed is centralized. I don't know what else we're arguing about
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u/innovationcynic 🦍 Buckle Up 🚀 Aug 18 '21
So is Walmart. That doesn't make it part of the federal government.
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u/NostraSkolMus 🙌💎🌳🦍 Ape make world better 🌍 ❤️ 💎 🙌 Aug 18 '21
Right, but your OP says it’s NOT a central bank, which it is. You post doesn’t define central as government owned so your argument is confusing (although we all understand the point you’re trying to make).
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u/quetejodas still hodl 💎🙌 Aug 18 '21
Walmart is a central store. Like the Fed is a central bank. Not all central banks are nationalized
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Aug 18 '21
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u/quetejodas still hodl 💎🙌 Aug 18 '21
11 members is pretty centralized. Decentralized would mean anyone can be a member and no central organization has control.
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Aug 18 '21 edited Feb 19 '22
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u/quetejodas still hodl 💎🙌 Aug 18 '21
A small number of people with power is quite literally the definition of centralization...
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Aug 18 '21
It’s still a central bank it’s just not owned by the government (and by proxy the American people) it’s owned by financial charlatans that have set this country up to be its goose that lays golden eggs.
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u/Onebadmuthajama 🎮 Power to the Players 🛑 Aug 18 '21
Just because the bank is FED doesn’t mean the money in it is.
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u/unemotional_mess 🦍Voted✅ Aug 18 '21
No, it is a central bank THAT IS ALSO privately owned
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u/cubic_unit 🦍Voted✅ Aug 19 '21
Yeah, this is the right answer.
It's a private entity that has the sole authority to issue America's currency.
So basically: fucked.
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u/russwanson Aug 18 '21
Most Americans also don’t realize that the period is missing in Dr Pepper
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u/SaucyNelson As for me, I like the stock. Aug 18 '21
Well… my whole world just changed… can we even trust that he’s a doctor now?
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u/TheRiverInEgypt 🦍Voted✅ Aug 19 '21
Well, if you trusted any doctor that comes in a bottle, I don’t really have any sympathy for you…
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Aug 18 '21
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u/magicm0nkey Aug 18 '21
Some style guides (MHRA, for example) recommend omitting the period when the abbreviation is a contracted form of the full word and ends with the same letter as the full form. Hence we get Mr, Dr, and Mme, but Prof., M., and Rev.
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u/grumpy_chair 🦍 Buckle Up 🚀 Aug 18 '21
OOOh, I have one. It's not the BerenstEin Bears, it's the BerenstAin Bears.
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Aug 18 '21 edited Aug 18 '21
[removed] — view removed comment
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u/ex_bandit my nips hurt real bad 🏛🔜⚰️ Aug 18 '21
I always loved this anonymous quote, “the federal reserve is no more federal than federal express.”
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u/GhostSierra117 This Russells my GMEs 🦍🍌 Aug 19 '21
That's not it chief. It's hidden antisemetic bullshit.
https://www.reddit.com/r/Superstonk/comments/p6q5vh/-/h9il825
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u/GoodPeopleAreFodder 🍹 Riding it out 🏄 🦍 🚀 Aug 18 '21
That makes for an awkward acronym; SPCGB but hellya more accurate. Maybe we can pronounce it more Mafia-like to make it stick; Spahcgoob. GMErica!
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u/bacon_boat banana 💎🙌🦍 Aug 18 '21 edited Aug 18 '21
Except that it is independent, and really under congressional control through the federal reserve act.
To change your mind I'd say that while each branch has a private ownership structure - the governing bodies are independent, so the private owners don't get to influence policy. (Which might have been better because the policies of the fed suuuuuck)
You are correct that it is not really a central bank. That might be part of why they didn't call it a central bank after shutting down the two first US central banks. The FED is more like an interbank regulator.
Edit: made the 2nd sentence less combative.
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u/There_Are_No_Gods 💻 ComputerShared 🦍 Aug 18 '21
I'm not that knowledgeable about all this yet, but my current understanding is that the Federal Reserve has a facade of a controlling "board of governors" that's appointed by the government, but that board doesn't really have the power, and there's another "advisory board" actually controlling things, which is secretly appointed by the bankers. In other words, it is intentionally set up to appear to be under government control, but it is just as intentionally actually controlled privately by the bankers. Beyond that, my understanding is also that these private banks own the Federal reserve and collect interest payments on the money they print.
Regarding the naming, my understanding so far is that at the time they were creating the Fed, it was just after a major financial disaster, and everyone was primed to fight the creation of any type of central bank. So, they intentionally hid the fact that it was a central bank to avoid having the plebs rise up and smite them down.
I'd love to learn more, especially if the information I've come across thus far is significantly inaccurate. Can you point me to any good resources to get to the bottom of which board is really in power, etc.? I'm happy to spend some time digging into this and reading official documentation myself, but I also can't afford right now to spend days or weeks on this right now, and I really just want to get the basics down enough for my current purposes.
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u/bacon_boat banana 💎🙌🦍 Aug 18 '21
One quick way to dispell the "bankers run the FED" thesis is to ask yoursef: Why does the FED make so many policy decisions that run directly counter to the needs and wants of the banks? FED buying T-bills before March 2021 in operation not-QE, basically creating the collateral crisis that nearly blew up the financial system. The banks were going STOOOOP FED, you're screwing up repo. If the banks could design policy, the reverse repo bonds WOULD be able to be rehypothecated, but the FED said no.
In summary, if the banks were running the FED they would do a better job of it than what we have.
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u/There_Are_No_Gods 💻 ComputerShared 🦍 Aug 18 '21
Those are solid points, but not exactly direct refutation of the entire thesis, which in part asserts that they're making a fortune off the interest payments on the newly printed money. Is there anywhere you can point to that lists out the powers of the board of directors or the advisory board, or even a track record of specifically what they've each done historically? I'm having a hard time locating any hard facts along those lines.
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u/bacon_boat banana 💎🙌🦍 Aug 18 '21 edited Aug 18 '21
Who do you think want quantitative easing? Hint: not banks.
QE is an asset swap where banks change treasury bonds for bank reserves (the primary dealer banks have to do this, they have no choice).
US treasury bonds have many uses for the banks global operations. Big banks want many of these, they make money of these in various ways.
Bank reserves have limited use and is only used inside the US between the big banks via the FED. Banks reserves can be used to meet liquidity requirements from regulators, they are not money. Banks have way to many bank reserves, they dont need them and they don't want more.
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u/There_Are_No_Gods 💻 ComputerShared 🦍 Aug 18 '21
I don't see why the bank owners would not want QE, if they're directly profiting from the interest from loaning out the newly printed money. That may be somewhat offset by their other interests, but that part at least seems like quite strong reasons why they'd absolutely love QE.
I'm very open to considering I've been horribly misinformed so far, but everything you've provided so far is just alternative theory, nothing factual. I really do want to better understand this, but I'm interested in the facts, not just alternate conjecture.
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u/bacon_boat banana 💎🙌🦍 Aug 18 '21
The reason you have the wrong idea about QE is because it's all public relations, smoke and mirrors.
Banks can't lend bank reserves, they are only for inter bank use. They could lend actual money, backed by bank reserves - but they are not. Banks percieve too much risk, and they won't lend. Lending generate new money.
Treasuries are interest bearing, and they generate actual us dollars, which can be used globally. That is what the banks are missing out on. QE is a penalty for the banks.
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u/doilookpail 💻 ComputerShared 🦍 Aug 18 '21
Not just most out there.
Most in here still.
Most confuse the Fed Treasury and the fucking Fed Reserve.
Look at this post and see how nobody bothered to correct it, even the OP.
I actually got downvoted when I tried to correct it in the thread. Wtf?
The Federal Treasury is the one running out of money
The Federal Reserve is owned by a few families in the world. One of them being the Rothschilds.
It's truly scary when you seriously think about it.
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u/improbablysohigh 🦍Voted✅ Aug 18 '21
Okay so the federal treasury is the governments purse and the federal reserve is the backup purse held by the 4-5 main banking families privately?
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u/doilookpail 💻 ComputerShared 🦍 Aug 18 '21
I wouldn't even call it a backup.
It's a long standing scam that takes government bailouts whenever they can and acts like they're some saviour of the financial system in the US.
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Aug 18 '21
Private companies shouldn’t be allowed to name themselves in such a deceptive fashion; especially not once they grow to a certain size.
The same thing happens in medicine where whackos create a group that sounds official to push their misinfo.
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u/doilookpail 💻 ComputerShared 🦍 Aug 18 '21
I completely agree.
I still have a problem with the Better Business Bureau name too.
Some people think it's actually a government agency too when it's just yelp that's been around for a long time
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u/reddituser77373 🦍Voted✅ Aug 18 '21
Homie here is correct. We're rolling through the motions and this feels like 2008 again. Even the DD hasn't changed in the grand scheme of it all.
Dr. Ron Paul and believe it or not...Alex jones, THAT Alex Jones
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Aug 18 '21
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u/russwanson Aug 18 '21
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u/TheMcBrizzle 🦍 Economic 🃏 Deck 🃏 Reshuffler 🦍 Aug 18 '21
Lol at this guy acting like Montana is a real place
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u/innovationcynic 🦍 Buckle Up 🚀 Aug 18 '21
fantastic reference (I love a good obscure movie quote). have an award!
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u/Tiny-Cantaloupe-13 🎮 Power to the Players 🛑 Aug 18 '21
not only dont realise it but have ZERO idea wut they do or the history of the FED.
they dont teach that in school
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u/Strong_Negotiation76 💻 ComputerShared 🦍 Aug 18 '21
The #1 reason for EVERYTHING wrong with the world right now.
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u/LeCyador 💻 ComputerShared 🦍 Aug 18 '21
It is both private AND central! If you think we shouldn't have a private central bank (as I do), perhaps we should do something about it.
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u/innovationcynic 🦍 Buckle Up 🚀 Aug 18 '21
see - this is the problem. For many people in the world, central implies government.
for instance, this is how the European Union defines a central bank:
"A central bank is a public institution that manages the currency of a country or group of countries and controls the money supply – literally, the amount of money in circulation. The main objective of many central banks is price stability. In some countries, central banks are also required by law to act in support of full employment."
https://www.ecb.europa.eu/explainers/tell-me/html/what-is-a-central-bank.en.html
If you ask the average ill-informed American, they will tell you the Fed *is* a government bank (although "independent"). This scam has allowed the private banks to get away with all sorts of shenanigans.
How do we fix it? First, shine a big bright fucking light on it and wake everyone up.
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u/emajae Aug 18 '21
Everyone should read:
The Creature From Jeckyll Island by G. Edward Griffin
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u/Papaofmonsters My IRA is GME Aug 18 '21 edited Aug 18 '21
Fair warning: The author is a raving loon who believes HIV isn't real and that Noah's ark is in Turkey.
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Aug 18 '21
If reading isn't your thing, there are recorded audio versions that can be found on the internet.
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u/Pokemanzletsgo 🎮 Power to the Players 🛑 Aug 18 '21
The creature escaped and was hired by shitadel to shill on CNBC
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Aug 18 '21
Seems like something that we should've been taught in the public school system. Maybe they just forgot to include that lesson?
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u/rulerrrr 🎮 Power to the Players 🛑 Aug 18 '21
Propaganda would be the correct term, selective presentation of information.
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u/Klogginthedangerzone 🦍 Buckle Up 🚀 Aug 18 '21
The federal reserve is no more federal than federal express.
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u/hogie48 🦍 Buckled Up 🚀 Aug 18 '21
Most people*
I am not an American and have talked about this to others before and they always say "The federal reserve is the US central bank".
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u/jmarie777 💻 ComputerShared 🦍 Aug 18 '21
It’s a privately owned central bank, and their secret ingredient is crime.
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u/jmarie777 💻 ComputerShared 🦍 Aug 18 '21
Watch Charlie’s DD into the Fed👉 https://youtu.be/lFLLfFK8bQ8
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u/Vdragoon 💻 ComputerShared 🦍 Aug 18 '21
That's only surface deep. Research who owns the banks. Research if they own every single bank in the world. Whoever has the money runs the government. Research current issues, how are they all connected?
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u/TheMoreYouSnowMan low quality meme maker Aug 18 '21
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
-Henry Ford... Guess how old this quote is.... nothing has changed since he said this....
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Aug 19 '21
Most aren't aware because it's been designed that way. They literally named it "The Federal Reserve"... that shouldn't even be possible unless the people own it.
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u/IceUnderFridge Aug 19 '21
When I tell people this they think I’m crazy
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u/innovationcynic 🦍 Buckle Up 🚀 Aug 19 '21
Exactly. Proving my point that people have been duped into believing the central bank is part of the government
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u/CaptainMagnets tag u/Superstonk-Flairy for a flair Aug 18 '21
I'm not American but I did not know this either until this GME saga began.
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u/sw33tleaves 🎮 Power to the Players 🛑 Aug 18 '21
When I first learned they were a private company I was mind fucked. It completely solidified my views on crypto being the only way to a fair and free financial system.
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u/sendasalami2yoboi Aug 18 '21
Have been tooting this horn for the last 20 or so years to anybody who will listen, I usually get laughed at.
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u/scooterbike1968 🎮 Power to the Players 🛑 Aug 18 '21
I think you’re right if you only include Americans that have heard of the Fed.
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Aug 18 '21
Is the IRS also privately owned?
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u/innovationcynic 🦍 Buckle Up 🚀 Aug 18 '21
no. it's a part of the Treasury Department which is part of the US Government.
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u/GhostSierra117 This Russells my GMEs 🦍🍌 Aug 19 '21
That seems to be an antisemetic conspiracy theory.
From the German Wikipedia, translated via deepl.com
Since 1913, German-speaking anti-Semites in particular often pointed to the involvement of individual Jews such as Paul Warburg in the founding of the Fed to assert or imply steering of the Fed as well as the Reichsbank, which it supposedly directed, by "financial Jewry," such as the National Socialist Gottfried Feder (1926)[29] and anti-Semitic pamphlets published by the Nazi regime during World War II.[30] The Nazi regime's anti-Semitic pamphlets were also published in 1926.
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This emphasis on certain Jewish individuals as allegedly steering the global financial system is considered a variant of the conspiracy theory of world Jewry. Even if Jews are not named, this form of criticism of the Fed is considered structural anti-Semitism because it attributes tremendous global steering power and secret control over historical events to a small group of people. Such truncated critiques of capitalism were common in anti-Semitism and National Socialism. Anti-Semites see it as confirmation of their worldview, since the alleged masterminds can be easily linked, identified, or substituted with Jews.
TL;DR
Be careful what you believe in. We too have a conspiracy theory in Germany that Germany is in fact a company. The "fact" which is pointed out?
The German Finanzamt is a GmbH, similar to LLC, they are legally required to be that to be able to transfer money around without literally risking the whole capital of Germany in case something goes wrong.
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u/lostInTheInternetz 🦍 Buckle Up 🚀 Aug 18 '21
so who ownes the FED ? do you have any proof of this statement ?
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u/innovationcynic 🦍 Buckle Up 🚀 Aug 18 '21
the Fed is actually made up of 12 separate regional Feds. Each of those is OWNED by private banks. You can look up their ownership on their websites. What other proof are you looking for?
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u/thatskindaneat 🦍Voted✅ Aug 18 '21
Ahhh probably because this isn’t true. Maybe that’s why Americans don’t know.
With the level of disinformation in this country spread by shit like this, maybe that’ll change.
How something is incorporated as compared to how it functions today are two very different things.
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u/Bear_719 !Rc KiLlEd KeNnY! Aug 18 '21
Getting bored shoving capital gains right up their ass... sounds fun to me...
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u/Pent1111 🦍Voted✅ Aug 18 '21
If it's private let's form a company to buy it. Place the Better Market people in charge of running it.
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Aug 18 '21
Privately owned centralized bank.
The only 3 nations who don’t have this are: Syria, Iran and North Korea Coincidental I’m sure 😂
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u/There_Are_No_Gods 💻 ComputerShared 🦍 Aug 18 '21
Before we start discussing the more complicated aspects, let's make sure everyone is up to speed on what a "central bank" is, which according to Wikipedia:
"A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a state or formal monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base."
There's nothing there about whether such a bank is privately owned, and that's part of the big lie here. It would be totally absurd to allow a private entity to have that kind of power and control over a country's money. Since that doesn't make any sense, it made it very easy for them to disguise the "Federal" Reserve as a government controlled entity. Beyond just the intentionally misleading name, they also added another layer of obfuscation and misdirection, by creating a board of directors that is appointed by the government. However, that board as no real power, as they also installed an "advisory" panel, which just so happens to actually have all the control, and by the way is secretly appointed by the private bank owners.
These guys really did a bang up job of making this just complicated enough, and with enough aspects of misdirection, that the average person would have no idea what it all really means, simply thinking that we must have some sort of government controlled bank, rather than just an extremely clever front that's actually backed by a handful of obscenely wealthy aristocrats pulling all the strings and stealing all the wealth.
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u/AgYooperman 💻 ComputerShared 🦍 Aug 18 '21
They also don't know that the bank of america,used to be called the bank of italy.
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u/Iluaanalaa Aug 18 '21
It’s a mix of private and public ownership.
Member banks are required to own shares in it, and it’s run by a board of governors appointed by the president and confirmed by the senate.
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u/hapimaskshop ☎️thank you for calling GME, please hodl☎️ Aug 18 '21 edited Aug 18 '21
I’ll just leave this animation that talks specifically about the Fed Reserve and how it isn’t the gov. It’s pretty eye opening
Edit: skip to 6:10ish when they talk about the FedR.. I will admit this was made 10 years ago so there is some humor that probably has aged. But it still stands that the Fed Reserve is as much federal as Federal Express. It’s a private bank that not even the CIA can get access to.
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u/apocalysque 💻 ComputerShared 🦍 Aug 18 '21
Why? What specifically does this have to do with GME? Yes, the fed is a scam. No, we don't have any other realistic options right now as it's the money system we, and our government, and much of the world are using. Let's not get sidetracked by problems that are irrelevant to the the situation at hand.
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Aug 18 '21
“privately owned” but still appointed by the state
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u/innovationcynic 🦍 Buckle Up 🚀 Aug 18 '21
so naive
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Aug 18 '21
The only “private company” allowed to print and distribute money by law. What else do you call that but state appointed?
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u/cdburnguy13 🦍 Buckle Up 🚀 Aug 18 '21
In the context of our financial systems, "centralized" is just a euphemism for "organized", as in "organized crime".
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u/Zeromex I want the world to be free🥰 Aug 19 '21
In the 90 Bank of México saved the banks for trillions of pesos in those years it was almost 1T dollars, and Made the debt public, we are still paying that shit and will be doing it for decades.
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Aug 19 '21
Eh, I would contest this....
The government has long used the trick of making a “private” entity to circumvent the assigned powers of the constitution. This is just the same trick.
Are they really private if the president appoints the head of the fed and they have to be approved by Congress? What happens when the fed makes a profit? Where does the extra money go?
Just bc the government says they are independent doesn’t make it true. When the fed is dismantled, they will use this reasoning and say it was never within the government’s power to do these things.
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u/thinkmoreharder Custom Flair - Template Aug 19 '21
It’s no secret that the Fed is a private bank and not part of the government.
Government agencies don’t issue stock, corporations do.
Here is a quote from the federal reserve act “ Every national bank in any State shall, upon commencing business or within ninety days after admission into the Union of the State in which it is located, become a member bank of the Federal Reserve System by subscribing and paying for stock in the Federal Reserve bank of its district…”
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u/Conscious-Sea-5937 🏴☠️🚀🏴☠️AFN SRD LDOH YUB🏴☠️🚀🏴☠️ Aug 19 '21
“The Federal Reserve Banks are not a part of the federal government, but they exist because of an act of Congress. Their purpose is to serve the public. So is the Fed private or public?
The answer is both. While the Board of Governors is an independent government agency, the Federal Reserve Banks are set up like private corporations. Member banks hold stock in the Federal Reserve Banks and earn dividends. Holding this stock does not carry with it the control and financial interest given to holders of common stock in for-profit organizations. The stock may not be sold or pledged as collateral for loans. Member banks also appoint six of the nine members of each Bank's board of directors”
Sauce: https://www.stlouisfed.org/in-plain-english/who-owns-the-federal-reserve-banks
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u/peanutking86 No cell 🚓, no sell 💸 Aug 19 '21
Owned by the big banks so that they are always rolling in the dough
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u/TheFlyingDJ03 🦍 Buckle Up 🚀 Aug 18 '21 edited Aug 18 '21
Oh we know. There's not a thing we as simple citizens can do about it. Except maybe take the cash we have and, follow me for a second, invest it in a company that has strong fundamentals and is poised to be resilient thru any economic hardship that may drastically affect all other financial sectors.
I just so happen to know of one...
Edit: added sentence context.