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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: George Kirlin who wrote (49266)	3/16/2001 1:17:49 PM
From: Qone0	Read Replies (1) \| Respond to of 57584

OT. George, Fed Bank ownership.http://64.225.47.117/nbn/banking.html

To: George Kirlin who wrote (49266)	3/16/2001 2:37:25 PM
From: Rande Is	Respond to of 57584

George, thanks much for the assistance in this matter. If I had realized how great you were in digging up things, I'd have been asking you for stuff all along!! >g< Where did you get the idea that the NY Fed Res. Bank was controlled by private stockholders. That makes no sense at all. Here is a copy of the actual Federal Reserve Act: landru.i-link-2.net Here is what the Federal Reserve Act says about who owns the Federal Reserve: landru.i-link-2.net Note that whenever a larger national bank buys a regional bank that owns a portion of the Federal Reserve, the larger national bank's ownership in the Fed increases. And the Federal Reserve Banks PAY NO TAX!! Those who own shares in the Federal Reserve Banks pay no tax on the dividends they make from their ownership!! Not Federal, not state and not local. From the U.S. Code: www4.law.cornell.edu Sec. 531. Exemption from taxation It really is a complex web. But the actual Federal Reserve Act states that the Regional Federal Reserve Banks have issued stock and are privately owned. Thanks again for all your work, George. Rande Is