Chapter 34 10. The Unknown Federal Advisory Committee

Federal Advisory Committee is Paul.Warburg orchestrated a secret remote control device to manipulate the Federal Reserve board.During the more than 90 years of the Federal Reserve's operation, the Federal Advisory Committee has achieved Paul's vision very well. Almost no one has paid attention to this institution and its operation, and there is no large amount of literature for research. In 1913, Congressman Glass vigorously promoted the concept of the Federal Advisory Committee in the House of Representatives. He said: There can be nothing evil in it.Four times a year (the Fed board) meets with the bankers' advisory committee, each member representing their own Fed district.Can we protect the public interest more than this arrangement?Congressman Glass, himself a banker, did not explain or provide any evidence that bankers have ever protected the public interest in the history of the United States.

The Federal Advisory Committee is composed of a representative elected by each of the twelve Federal Reserve regional banks. It meets with the members of the Federal Reserve Board of Directors in Washington four times a year. The bankers make various monetary policy recommendations to the directors of the Federal Reserve. The economic interests of the region, where everyone has the same voting rights, are virtually unassailable in theory, but in the fierce and brutal reality of the banking industry, it is an entirely different set of unspoken rules.It is difficult to imagine a small Cincinnati banker and Paul.International financial giants such as Warburg and Morgan sit at a conference table and propose monetary policy to these giants?Either one of these two magnates would draw a check out of his pocket and draw two strokes on it would be enough to ruin the little banker.In fact, the survival of every small and medium-sized bank in the twelve Federal Reserve districts is entirely dependent on the blessings of the five major banking giants on Wall Street. The satellite banks are going to handle it, and the satellite banks are naturally more obedient to get these high-return businesses, and the five giants also own the shares of these small banks.When these small banks, representing their regional interests, sit down with the Big Five to discuss US monetary policy, it doesn't take much imagination to know the outcome of the discussion.

Although the recommendations of the Federal Advisory Committee have no mandatory binding force on the decisions of the Fed's directors, the five Wall Street giants travel to Washington four times a year without hesitation, not just to drink coffee with a few directors of the Federal Reserve.You know, super busy people like Morgan, who are on the board of sixty-three companies, it is very strange if their suggestions are not considered at all, and they still go back and forth happily.