Despite its name, the Federal Reserve is not Federal and it has no reserves.
Most people think that the Federal Reserve is a branch of the federal government but it is not.
The Federal Reserve is actually a private cartel started by six people for the purpose of eliminating competition and increasing profits in the world of finance. Those six people were Senator Nelson Aldrich, Paul Warburg, Frank Vanderlip, Henry P Davison, Abram P Andrew and Benjamin Strong. The six men were tied to significant people in banking world such as J.P. Morgan, William Rockefeller and the Rothschilds.
The Federal Reserve act of 1913 was NOT drawn up in Congress but rather it was drawn up by these six men on a private island, named Jekyll Island, off the coast of Georgia.
These six men represented one quarter of all of the money in the world.
Think able out that for a minute…. Here we have six men that represented one quarter of all of the money in the world and they were concerned about competition and diminished profits so they got together and drafted a document called the Federal Reserve act of 1913 that effectively eliminated all the competition.
To this day, who the members are of the cartel that owns the federal reserve (and are responsible for the monetary policy of the United States of America) is a closely held secret….. Because the Fed is a private entity and not owned by the taxpayers!!!