Our Social Security

[JMJ]

OMG.... This is really almost too dumb for words.

http://www.ssa.gov/international/Agr...s/ireland.html




If you would like to know more about international programs of this type, the Social Security Administration has a whole website for you:

http://www.ssa.gov/international/index.html

Hey John I've got a "government" website for you to look at so you can find out the truth.

"Who owns the Federal Reserve?

The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.

As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."

The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year. " (but the corporation owning the stock can be sold, traded, or pledged as security..)

http://www.federalreserve.gov/genera...faq/faqfrs.htm

Sounds like a big twist of the truth to me. Who owns the "stock" and who's getting paid the "dividends" of "6% a year". 6% a year on what?

They are putting everything out there in the open for everyone to see right? Why the secret?

[jberryhill]

Sounds like a big twist of the truth to me. Who owns the "stock" and who's getting paid the "dividends" of "6% a year". 6% a year on what?

Six percent on the value of the stock. The stock is owned by nationally chartered banks. State chartered banks can choose whether or not to hold stock in the Fed.

They are putting everything out there in the open for everyone to see right? Why the secret?

Why what secret? And what does this have to do with Social Security?

[JMJ]

Six percent on the value of the stock. The stock is owned by nationally chartered banks. State chartered banks can choose whether or not to hold stock in the Fed.

It's all word play. Companies and the Fed are making a profit and it is private.

Why what secret? And what does this have to do with Social Security?

My point is that these "government agencies" aren't as transparent as you want to make them out to be.

[bigboydog_0]

wow