[Asterisk-biz] status of Telepacket

[trixter aka Bret McDanel]

On Wed, 2005-12-21 at 20:25 -0500, Jonathan k. Creasy wrote:
> >
> > (ever wonder why the
> > federal reserve is a corporation in puerto rico that started in 1929
> or
> > there abouts (corporate papers are expired too)?
> 
> Where can I see the documents on that?

try google.  Why is there a special federal law (title 12 united states
code, I wanna say soemwhere around section 300) that exempts the federal
reserve from all taxes but property tax?  If they were the federal
government they wouldnt need any such exemption.  

There is a lot of stuff about the federal reserve not really being the
US government.  The federal reserve sells stock, member banks can own no
more than 2500 shares (and they can buy a bank that also owns 2500 etc).
The US government doesnt sell *stock* (again in title 12 united states
code is the limit on that).

The federal reserve charges 0.5% 2 times per year on all paper money its
member banks have.  Yes they tax banks.  Fortunately there is only a
total of $540B in currency the rest of the money is electronic.  2/3 of
the money that goes overseas never comes back (for which the US gets
seniorage - the difference between the $0.10 it costs to print a $100
and the value that was exported - basically a profit of $99.90).  Member
banks arent afaik overseas, which means that the tax the federal reserve
charges (again mandated in title 12) is on less than the total available
currency, remember its only on the physical cash in the banks not on
total deposits or anything.  But you gotta ask yourself, where does that
money go exactly?

Charging more or less 1% per year on a few hundred billion dollars is
still a considerable amount of money.  And to not pay any tax on that
(only on the property they have)...  Almost enough to set up a nice
trust...


-- 
Trixter http://www.0xdecafbad.com     Bret McDanel
UK +44 870 340 4605   Germany +49 801 777 555 3402
US +1 360 207 0479 or +1 516 687 5200
FreeWorldDialup: 635378
http://www.sacaug.org/ Sacramento Asterisk Users Group
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