Thursday, August 13, 2015

New Evidence The Federal Reserve Vote is Rigged and Controlled by the Banksters

By Robert Wenzel

The Federal Reserve Bank of St Louis has published a fascinating chart detailing the history of dissents to monetary policy moves by the Federal Reserve Open Market Committee (see above).

The FOMC is the interest rate and general monetary policy setting body of the Federal Reserve. If the Fed decides to raise rates in September, it will very likely be done at the September 16-17 meeting of the FOMC.

Here's the thing. The FOMC consists of twelve members--the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and four of the remaining eleven Reserve Bank presidents, who serve one-year terms on a rotating basis.

The Board of Governors, all work out of the The Marriner S. Eccles Federal Reserve Board Building in Washington D.C. If they vote in unison, they wipe out any influence of the Federal Reserve branch bank presidents, who are less tied to the Washington D.C./New York City bankster power corridor.

Prior to 1996, dissents were common by both the Federal Reserve bank branch presidents and Fed board governors. But this came to pretty much to a halt in the middle of the Alan Greenspan Fed chairmanship. In the 19 years since 1996, there have been only 2 dissents by Fed governors. During the same period, despite the fact that there are far fewer voting Fed branch presidents on the FOMC, they have dissented more than 50 times.

Something clearly happened under the Greenspan chairmanship. The Fed governors do not now stray, at all, from what is essentially chairmanship policy.

There, of course, has always been strong bankster influence at the Washington D.C. and New York offices of the Federal Reserve, but in the last two decades that influence appears to be absolute. The branch presidents in the hinterlands, don't have a chance at influence. The NYC banksters, who fly in private jets between NYC and Washington D.C., the way every day New Yorkers take the subway. appear to be in absolute charge. They certainly can target the Fed chairman, when they want to influence, and be very comfortable that dissent from the chairman by the governors will be near zero.

As I say, the absoluteness of the control started under the Fed chairmanship of Greenspan, who just so happened to have worked early in his career at the powerful Wall Street investment bank Brown Brothers Harriman (Prescott Bush was a general partner), and he sat on the board of directors of the bankster firm JPMorgan, just before he became Fed chairman.

 Robert Wenzel is Editor & Publisher at and at Target Liberty. He is also author of The Fed Flunks: My Speech at the New York Federal Reserve Bank. Follow him on twitter:@wenzeleconomics


  1. What's interesting is the paragraph of text under that graph. They talk about the meaning in the graph without even mentioning the obvious meaning RW pointed out (and I'm sure they noticed). The text however does say this:

    " Some researchers argue that governors are, thus, more responsive to the desires of politicians"

    Sometimes I get the feeling the St. Lous Fed is secretly at war with NY.

  2. The USSA is so corrupt. More sophisticated than turd world countries but still horribly corrupt.

  3. We get it: the primary mission of the Fed - of course not the official mission - is to enrich the banksters, their families and their cronies by parasitizing the productive classes. But at this point they must all be rolling in obscene amounts of unearned wealth. You'd think that at some point, they'd say "We have more than we'll ever need for ourselves and ten generations - let's do something for the productive classes who, after all, make our wealth possible." But maybe it really is just never enough for some parasites ... I mean people.

  4. From memory - so, if anyone has the pure quote, feel free to Post it...

    In Novak's Prince of Darkness, after Volcker had given 3 years of money rate growth slowdown in 6 months (This from The Supply Side Revolution, Paul Craig Roberts), Volcker wanted to squeeze the last drops of inflation out of the economy. Reagan had stacked the Board with Supply Siders and they outvoted Volcker and began the Fed manipulated Boom of the 80s. Novak thanks his Broker, whom he met by a little luck as well as Volcker and the Supply Siders for "Wise Investments" (FedEx, f'rinstance...) that made him a very rich Newsie.

    Volcker was thus disarmed by his own Army and it would not surprise me at all that the New Rule became, "When Chairman Stalin begins to clap his hands, you clap your hands for as long as He does - and then some.