Under the Federal Reserve Act of 1913 the what powers do Federal Reserve banks have?

The Federal Reserve Act gave allowed PRIVATE bankers (families) to control the issue and rate of interest for the money supply. Originally the US Constitution allowed the US Govt to print its own money (interest free). Now the Federal Reserve gives the US Government permission to print money and then charges us interest for the privilege.

The USA now borrows its own money, and has to pay it back to the private Federal Reserve (principle plus interest). To pay the interest, we have to borrow it... which creates further debt and interest which is why the Federal Deficit can NEVER be repaid.

So instead of just printing our own money, the US Govt borrows it and has to pay it back at interest.

Also the Federal Reserve controls the interest rate from banks, and the fractional reserve ratio which allows banks to loan more money than they actually have or exists. If they have $1,000 on deposit and the fractional reserve is 10, then they can loan $10,000. If this amount is deposited in another bank, that bank could loan at 10x to the sum of $100,000 etc. Apparently this can continue for 9 levels.

In reality money is created out of thin air, when we get a loan, and then this has to be paid back with "real money" and interest.

There is no reason for the government to have to get permission to print and borrow its own currency. However it gives great profit and control to a few.

Voting about the "federal reserve" is probably unnecessary since it should not exist in the first place. Congress should be forced to follow the US Constitution or be thrown out of office or tried for treason.

Answer

The Federal Reserve was created in secret meetings of powerful bankers. Its operations continue to be completely secret. It has the power to CREATE a stock market bubble like the one we had in 2000, and rapid escalation of property values like we have seen in recent years through a policy of easy money. It has the power to ENGINEER a financial crisis such as we are now experiencing through a sudden and violent contraction of the money supply.

Every U.S. Citizen should be aware of the issues surrounding the Federal Reserve.

For more information see the link below.