18 Feb 2014 6:20 pm
It isn't in the Constitution. The Federal Reserve Board of Governors requires no government approiprattions, but -- for all intensive purposes -- it works with the government on terms of monetary policy.Cannonpointer » 18 Feb 2014 5:54 pm » wrote:
Where in the Constitution is the fourth branch of government created. I know it has to be right before the fifth, but it's been a while since I read the document.
You asked me why does the President appoint the Fed Chairman. I told you.That command does not comment on what branch of government the fed chair is in.
While that may be true, why does the Congress need to oversee an entity, by law, if said entity is not a part of the Government?The legislature oversees my local cable company, but that doesn't make it a branch of government.
If it's in the government, it's in one of the 57 branches, Mr. Obama.
You are aware that an agency does not have to be under a specific branch of government to be part of the government, correct?
How do you explain the SEC, CFTC, FTC, and may others. It's really no different from the Federal Reserve.
Not under a branch of government. It doesn't need to be.So it is not directed by either - must be in the judiciary, possibly the pleniary or congrutive brach?
How did your link debunk anything?My link debunked that. It's pre-debunked.
1. The Federal Reserve is not under any branch of government. There are more than 25 government agencies that are independent within the government.
2. No one needs to determine the budget for the Federal Reserve. Like other Independent Government agencies (United States Postal Service, Social Security Administration), the Federal Reserve doesn't require funding.
3. I've already said that the Congressional Banking Committee overseas the actions conducted by the Federal Reserve
4. The last point is so ridiculous, it's not even worth pointing out.
5. How exactly does your source debunk me when it even supports what I've said all along. "Independent within the government?" Check the second to last sentence.
It's far from bull.Oh, and that's ****.
All of Unicef's money goes to charity - except the 90% for "overhead" (whoring).
http://www.federalreserve.gov/moneta...instmt2012.pdfEvery year the Federal Reserve releases one of these: A Comprehensive Annual Financial Statement (Or Independent Auditors Report). Inside are all of the financial activities conducted by the Federal Reserve for the entire year. Every loan it's ever made (and to whom or what), what types of assets it's purchasing, the type of income generated from each investment, etc (Page 6 if you want to follow along).
First you'll have its interest income (loans, bonds, etc). Majority of the money made by the Federal Reserve is through US Treasuries and Mortgage-Backed Securities. That was a total of $82.5 Billion Dollars. Then you have Interest Expense, most of which are through Deposits into other banks (Banks which make money by accumulating excess reserves). That was a total of -$4,170, which makes net interest income $77.8 Billion. Now you also have Non-Interest Income (Dividends, Services, Capital Gains, etc) as well as Operating Expenses (Salaries, etc), all of which are calculated together.After this is all calculated, it is all remitted to the U.S. Treasury. In 2012, the Federal Reserve made a grand total of $90.5 Billion dollars. The Federal Reserve remitted $88.4 Billion of those dollars to the US Treasury. All Together, the Net Income of the Federal Reserve was $2 Billion dollars. Like any other business, the Federal Reserve has expenses and all expenses are paid before it actually makes a profit. But the profits are then remitted to the US Treasury. This is not new, it's been going on for decades. The Treasury now makes more money from the Federal Reserve due to it's OMO (or POMO).
