A Question About The U.S. Federal Reserve

I'm from Australia and I see over night Oboma has appointed a new head of the Federal Reserve.

Much as been written on this website about how the federal reserve is a privatley owned bacnk and not a goverment bank, which I accept as true

What I want to know is why then does the president appoint the head of it and not the owners? The first answer that comes to mind is to maintain the illusion that its owned by the people but what is the offical reason and how does it work? Are the heads appointed for a set timeframe or for life unless they resign or what? Whats the story?

thanks

reply to post by learnatic


Americans have been wondering the same thing for the past hundred years or so.

reply to post by learnatic

to understand the Federal Reserve I suggest EVERYONE read the report Primer on Money from the United States House Committee on Banking and Currency

OH, and there is this little nugget

Banksters, the Worlds Worst Gangsters - History of the Federal Reserve
...According to Congressional record the U.S. Government can buy back the FED at any time for $450 million.  That's about half the amount of money we pay them daily....

The short answer is the US government appoints the head of the Federal Reserve every 14 years. They must then be confirmed by the Senate. Appointments are about the only control the government has left over the Federal Reserve. The last bit of control was wrest away from the government in the 1960's. It is all in Primer on Money.

There's no conspiracy here. Obama has 'nominated' a new head, and this nomination has to be passed by the Senate. I believe the role is termed (I'm not sure on that, but maybe 4-year tenures) so new Heads would have to be voted in.

I'm not American either but this is what it seems to me.

Greetings,

Most, if not all, nominees for "whatever" in the current system of governance are usually NOT the idea of the POTUS, whoever it may be at the time. They are SELECTED (approved or whatever euphemism you care to apply) for him to nominate by the REAL owners of the country and then passed off to the people as legitimate choices, regardless of circumstances.
The truth is people in such positions of power do not rise to such heights of their own merit.
They must be controllable and amenable to the will of the state regardless of agenda.
They must be blackmailable so they can be controlled and they MUST tow the line or risk their own destruction.
The only thing that IS certain is that they are corrupt and that they act against the will of the people regardless of how outrageous the proposed plan seems. Any deviation, once more, is met with swift and merciless destruction that does not only effect them but the lives of anyone they "care" about.
Care is in quotations because such individuals and usually not lauded for compassion or understanding...they are sociopaths who are addicted to power and control. Only their obedience and silence is required of them...but some would call this coersion "loyalty".
Since the federal reserve is NOT federal and NOT American, I find it hard to believe any POTUS would have a genuine say in who is put in charge of leeching the countries well-being.
In other words...it's just another puppet show to further the illusion of functional and fair society.
But this is just one man's opinion.

-Amitaba-

The official process : the unfed b.s bank reports to no CONgress and has no oversight - in other words it's thieving at it's finest.
I heard G. Edward Griffin at the first Ron Paul rally in DeCeit in '08 and - more a less a quote...

.."they asked me to sum up my book 'Creature of Jekyll Island'...I finally got it down to these words...Can you say the biggest scam in the history of the U.S.?"

on the brighter side - the hundred year contract should be up on Dec 30,2013 uhhh - maybe I could get the new contract...