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Federal Reserve charter is similar to the charters of Hong Kong and Macau

Posted on | September 1, 2013 | 4 Comments

People often do not understand what ids going on with the Fed.

First, Federal Reserve is a private bank, just like Federal Express is a private shipping company.

Second, Hong Kong and Macau are good examples of such charters. I do not remember for sure, correct me if I am wrong, but I believe Hong kong was purchased by Great Britain in 1897 and Macau was purchased by Portugal in 1899. Both islands were needed as commercial ports for the leading sea faring nations of Great Britain and Portugal. Typically such purchases are not made for ever, they are made for 100 years. For that reason at the end of the 20th century both Hong Kong and Macau reverted to China.

Something similar happened with the Federal Reserve which was a 100 year charter signed in 1913. The U.S. Government and the Fed are tight lipped whether it will be renewed in the December of 2013. We’ll see what happens.

Category: Uncategorized

Comments

4 Responses to “Federal Reserve charter is similar to the charters of Hong Kong and Macau”

  1. Paul Jackson
    September 1st, 2013 @ 2:22 pm

    Apparently it’s yet another among the many things you don’t understand. It’s not expiring in 2013.

    The act originally granted a charter for twenty years, to be renewed in 1933. Fortunately for the Federal Reserve System, this clause was amended on February 25, 1927 to extend the act, “To have succession after the approval of this Act until dissolved by Act of Congress or until forfeiture of franchise for violation of law.”[18] (12 U.S.C. ch. 3. As amended by act of Feb. 25, 1927 (44 Stat. 1234)).

  2. dr_taitz@yahoo.com
    September 1st, 2013 @ 3:19 pm

    you are simply quoting verbatum garbage from wikipedia. where is the actual Federal Reserve Act of 1913?

  3. JAK
    September 1st, 2013 @ 7:00 pm

    Interesting that what is referenced calls the Fed Reserve a ‘franchise’.

  4. dr_taitz@yahoo.com
    September 1st, 2013 @ 8:25 pm

    all of the positions in the Federal government are franchises and are supposed to be bonded

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