Since the days of Alexander Hamilton
the investment banks have made their home and impact in the Empire
State. There, the concentration of big banks has made the NY Federal
Reserve Bank powerful enough to outmaneuver, outvote and override all
other regional interests. Its Fed ownership position, extensive size,
holdings, insiders operating in the Fed and its New York contacts
guarantees Goldman Sachs the leverage when needed to direct the Federal
Reserve System.
It boils down to this: when you have the kind of leverage Goldman and the TBTFs have, this Wall Street money trust can make the critical decisions. One consortium, Goldman Sachs, tells the NY Fed what to do; it tells the FOMC and it relays its decision to Janet Yellen, representing 90 percent of the banking power. It means the government of the United States is under the direction of the Wall Street money trust.
The Federal Reserve Bank of New York is the feature of how centralized, incestuous and tyrannical America’s financial system has become. It is the New York Fed that literally gives the first and last word on who gets what and when in financial America. In other words, when the money trust picks its winners and losers, it’s here’s where the decisions are made….
Because of the extensive holdings and connections of New York based investment banks, what influence could a St. Louis or Dallas banker possible make on Fed policy? And since the domination of the Fed by Ben Strong of J.P. Morgan Trust and Governor of the New York Fed from 1914 until his death in 1928, no Fed decision is made without the New York stamp.
The president of the New York Fed is a permanent voting member of the FOMC and traditionally is selected as its vice chairman. The other presidents serve one-year terms on a rotating basis. All of the presidents participate in FOMC discussions, but only the five who are members of the Committee vote on policy decisions.
The Federal Reserve Bank of New York has several unique responsibilities associated with its presence in the financial capital of the United States.
At the direction of the Federal Open Market Committee (FOMC), the Federal Reserve’s top monetary policy-making group, the New York Fed executes domestic open market operations on behalf of the System.
Open market operations—the buying and selling of U.S. government securities in the secondary market—are the principal means through which the System implements monetary policy. Although the FOMC decides what policy to follow, the System’s portfolio is directed, on a daily basis, by the Manager of the System Open Market Account at the New York Fed. The Manager, along with the rest of the Open Market Department, constantly monitors bank reserves and acts to ensure that the FOMC’s directive is being fulfilled.
In addition to its domestic trading desk responsibilities, the New York Fed, at the direction of the FOMC and U.S. Treasury, conducts all foreign exchange trading for the Treasury and the Federal Reserve System. In this role, the New York Fed intervenes in foreign exchange markets to achieve dollar exchange rate policy objectives and to counter disorderly conditions in foreign exchange markets.
The New York Fed also is responsible for maintaining relations with, and providing financial services for, foreign central banks and international organizations. One of these services is the New York Reserve Bank’s unique custodial responsibility for the gold reserves of about five dozens countries, central banks, and international organizations. The New York Fed’s gold vault stores approximately one-quarter of the world’s official gold supply—the largest concentration of monetary gold in the world.
Foreign official gold reserves have been held at the New York Fed since 1924 for numerous reasons, including the stability of the U.S. political system, the concentration of international trade and finance in New York City, and the convenience of centralizing gold holdings in a place where international payments can be made quickly.
The truth is, Goldman Sachs is one of the Fed owners, but it is so big, it is pushing everybody else around, at the moment.
The most recent information from observers says that just eight families, four of which reside in the US, own 80 percent of the NY Federal Reserve Bank. They are, according Dean Henderson of Global Research in 2011, Goldman Sachs, Rockefellers, Lehmans and Kuhn Loebs of New York; the Rothschilds of Paris and London; the Warburgs of Hamburg; the Lazards of Paris; and the Israel Moses Seifs of Rome.This ownership information was provided by J.W. McCallister, an oil industry insider with House of Saud connections, writing in “The Grime Reaper,” information he acquired from Saudi bankers.
http://www.globalresearch.ca/the-federal-reserve-cartel-the-eight-families/25080
JR
It boils down to this: when you have the kind of leverage Goldman and the TBTFs have, this Wall Street money trust can make the critical decisions. One consortium, Goldman Sachs, tells the NY Fed what to do; it tells the FOMC and it relays its decision to Janet Yellen, representing 90 percent of the banking power. It means the government of the United States is under the direction of the Wall Street money trust.
The Federal Reserve Bank of New York is the feature of how centralized, incestuous and tyrannical America’s financial system has become. It is the New York Fed that literally gives the first and last word on who gets what and when in financial America. In other words, when the money trust picks its winners and losers, it’s here’s where the decisions are made….
Because of the extensive holdings and connections of New York based investment banks, what influence could a St. Louis or Dallas banker possible make on Fed policy? And since the domination of the Fed by Ben Strong of J.P. Morgan Trust and Governor of the New York Fed from 1914 until his death in 1928, no Fed decision is made without the New York stamp.
The president of the New York Fed is a permanent voting member of the FOMC and traditionally is selected as its vice chairman. The other presidents serve one-year terms on a rotating basis. All of the presidents participate in FOMC discussions, but only the five who are members of the Committee vote on policy decisions.
The Federal Reserve Bank of New York has several unique responsibilities associated with its presence in the financial capital of the United States.
At the direction of the Federal Open Market Committee (FOMC), the Federal Reserve’s top monetary policy-making group, the New York Fed executes domestic open market operations on behalf of the System.
Open market operations—the buying and selling of U.S. government securities in the secondary market—are the principal means through which the System implements monetary policy. Although the FOMC decides what policy to follow, the System’s portfolio is directed, on a daily basis, by the Manager of the System Open Market Account at the New York Fed. The Manager, along with the rest of the Open Market Department, constantly monitors bank reserves and acts to ensure that the FOMC’s directive is being fulfilled.
In addition to its domestic trading desk responsibilities, the New York Fed, at the direction of the FOMC and U.S. Treasury, conducts all foreign exchange trading for the Treasury and the Federal Reserve System. In this role, the New York Fed intervenes in foreign exchange markets to achieve dollar exchange rate policy objectives and to counter disorderly conditions in foreign exchange markets.
The New York Fed also is responsible for maintaining relations with, and providing financial services for, foreign central banks and international organizations. One of these services is the New York Reserve Bank’s unique custodial responsibility for the gold reserves of about five dozens countries, central banks, and international organizations. The New York Fed’s gold vault stores approximately one-quarter of the world’s official gold supply—the largest concentration of monetary gold in the world.
Foreign official gold reserves have been held at the New York Fed since 1924 for numerous reasons, including the stability of the U.S. political system, the concentration of international trade and finance in New York City, and the convenience of centralizing gold holdings in a place where international payments can be made quickly.
The truth is, Goldman Sachs is one of the Fed owners, but it is so big, it is pushing everybody else around, at the moment.
The most recent information from observers says that just eight families, four of which reside in the US, own 80 percent of the NY Federal Reserve Bank. They are, according Dean Henderson of Global Research in 2011, Goldman Sachs, Rockefellers, Lehmans and Kuhn Loebs of New York; the Rothschilds of Paris and London; the Warburgs of Hamburg; the Lazards of Paris; and the Israel Moses Seifs of Rome.This ownership information was provided by J.W. McCallister, an oil industry insider with House of Saud connections, writing in “The Grime Reaper,” information he acquired from Saudi bankers.
http://www.globalresearch.ca/the-federal-reserve-cartel-the-eight-families/25080
JR
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