The Federal Reserve is a PRIVATE bank. How stupid is this?

Some big wigs basically got together and said, “Let’s start up a bank that can, at will, add ‘zeros’ to the balance sheets and accounts of whatever bank we want. We’ll put an American flag out front of it and act like it’s part of the government, and get Congress to pass a law saying how great we are and how legitimate we are, and how we have control over everything.”
While the Fed pays the Treasury 96% of it’s “profits”, who cares about that when they can just add “zeros” to any bank in the US, anytime and anywhere?

Goldman Sachs calls up The Fed, “Hey, we lost about $2 Billion in the markets this week, so we need you to go in and place an entry in our balance sheet for $2,000,000,000.00. Cheers!”

This has to be one of the craziest scams ever conceived!
Here are some interesting thoughts on the issue (by the way, your True Conservative SAVOIR Ted Cruz missed the Audit the Fed vote):
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Why the fed is private:
1) A woman in Washington DC, was hit by a car while crossing the street. The driver was an employee of the Federal Reserve and on work time. The victim took the driver to court and sued her addressing the respondent as “an employee of the United States Federal Government, and The Federal Reserve”.
When the matter came to the bench, the judge dismissed the case for the reason that “The Federal Reserve was NOT in any manner part of the Federal Government and could not be held responsible for what a private bank’s employee did!
2) ALL Freedom of Information Act requests that have been initiated by the people have 100% been returned with the explanation that:
The Federal Reserve Central Bank is not part of the Federal Government and is not obligated to honor any requests associated with FOIA requests!!
Only the sleeping public who are hard party followers believe a word of this pure banker garbage piece. The author should be completely embarrassed to have written such lies and non sense.
Sadly, there’s a big majority of the public who have no clue what the Federal Reserve is, and even worse what it does.
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The Fed is a PRIVATE bank, absolutely no way around it. Period. They’ve never divulged their full holdings or their ownership. Speculation is that the member banks own it, but nobody really knows for sure. They sure do profit from it, as Goldman Sachs has by trading with the Fed and booking BILLIONS in profits doing so.
Wish I could start a bank and do that, but what do you think the odds are that I’d ever get into that club? And, yes, we know they don’t absolutely “print money”, but increasing the balance sheet of banks is substantively different in what way? You say tomato, I say tomaaato.
Are they really a government entity? Who signs and issues Ben Bernanke’s paycheck? I don’t know the answer, but I bet its not the gubmint. Who determines his rate of pay? Congress? Is he a classified federal employee? GS 12 maybe?
I know there’s a lot of BS surrounding the Fed, but the reality is they exist in a secretive, quasi-official, somewhat-but-not-quite-completely-overseen-by-Congress, nether world without much accountability to the people. And that’s what should have been reported here.
Comments found at this link:
http://www.bankrate.com/finance/federal-reserve/myths-federal-reserve-7.aspx
The banks act in their own interests, and they own the Fed!

Aside:
It’s inconceivable to me why, after saying what she says in this video, how Liz Waaren could vote AGAINST the audit the Fed bill!
So here is an article debunking Fed “conspiracy theories”…
Almost every point they make is an outright LIE or misrepresentation.
It’s actually hilarious reading this. They talk about how “pro-banker” Republicans were “opposed” to the Fed Act of 1913! LOL. That is really funny. The “opposition” was controlled, it was fake, so the bill would pass with the support of Democrats who were actually anti-banker. Crazy:
https://sites.google.com/site/stuffeconomics/courses/bank-regulation/fed-conspiracy-theories

Mark