Issachar, a question for you, please

[Guest]

What is the difference between a National Bank and a Federal Reserve Bank? Which do you prefer? Which is more stable?

I know most banks are in a bit of trouble now days what with the sub-prime and all.

Thank you for your help. I sure do like reading your posts. You have helped me to understand a lot of what is happening financially.

Continuing to pray for you and the family.

Dove

[Issachar]

Re: Issachar, a question for you, please

hmm ... just found this thread by glancing. I don't know why it wasn't bolded like threads usually are when not viewed yet. ??? Sorry for the delay. I just found it.

There are a lot of National Banks. They are simply banks that are allowed to exist by permission of the federal government; hence, "national" (vs. state, etc.) They are controlled by the Dept. of U.S. Treasury.

A national bank has been given permission to be a national bank from the federal government. These banks have the U.S. Department of the Treasury to make sure that the bank is being run properly. Banks that are national banks have the word national in their names. For example: Smithburg National Bank.

link

Federal Reserve Banks don't answer to anyone in practice, though by law, they answer to Congress twice per year. They say a lot of words without saying anything. There are 12 of these banks in the U.S. The U.S. is divided into 12 banking regions with one of the Federal Reserve Banks in each. Together, they make the Federal Reserve System and they alone can make and unmake what we call "money". They are the Central Bank; created by the Federal Reserve Act of 1913. That Act was the beginning of the end of the U.S. economy. Though I would not have liked Andrew Jackson as a president, I totally agreed with his resistance to those trying to start another central bank ... there were some short live one's early on ... one before the Constitution and one ... I think for 20 years ... after the Constitution. There is no need for a central bank other than to accomplish the machinations of those who would be wealthy off the backs of millions of workers. I know that is saying a LOT, but I have a lot of research to back such a statement. Central Banks and their attendent fiat currencies always ruin nations economies. This creates havoc and of course, they supply the solution. Humans cannot tolerate havoc in anything. We are not created with that ability. They will accept anything that will alleviate it. I believe the U.S. is on the fast track to that now. Much of the process is done; i.e unpayable debt.

You asked me which I prefer. Truth be told ... they are all a part of the same banking system and I trust none of it. We use banks only as much as we have to. The whole system is a house of cards due to many reasons, but I think I would say, especially, because of derivatives. Sub-prime loans are a miniscule part of the economic problems we will one day see ... probably on a global scale. Same goes for the various exotic mortgages out there that we are on the verge of seeing the fruit.

Continuing to pray for you and the family.

Thank you. I believe that the prayers of the saints are the only reason we are at peace. Right now I feel like I am standing before a hurricane ... a looming wall of tumult ... with nowhere to go except into the arms of our Lord.

Issachar

[Guest]

Re: Issachar, a question for you, please

Thank you Issachar.

I quite understand what you said.

The reason I asked is because I have been reading the FDIC website and doing some research on banks including the one I use which is a Federal Reserve Bank. I noticed in researching my bank all the acquisitions of other banks (119 in the Bank History Analysis) since it frist opened in 1928. Of course this got my curiosity up.

Interesting site as one can generate financial reports regarding any financial institution one is using or about to use.

I appreciate you taking the time to answer my question.

God Bless you my brother.
Dove