Quote Originally Posted by barbrolie View Post
Two things. First, the Fed is different from the Federal Reserve Banks, both of which are part of the Federal Reserve System.

The Fed has no stock, the Federal Reserve Banks do have stock. They are, however, not run for "profit".

Second, owning stock is a condition of a bank to be part of the federal reserve system. Each member bank deposits a sum of money with the federal reserve system to prevent runs on the banks, though, of course, such runs can still happen. The banks lose interest, in theory, for the money that is held with the fed.

In exchange for the money held with the fed, the banks own "stock", which unlike regular stock, does not give ownership rights over the fed. All that the stock does is provide a basis for ownership of the dividend payments, which are made based on the amount of stock held, which is based on the amount of money kept as security with the fed.

So, the dividend is basically part compensation for the interest lost by banks due to the requirement that they keep reserves within the federal reserve system.

So no. The Fed is not privately owned. Neither is the Federal Reserve Bank.

It has stock, it pays dividends, the fact the stock is different from regular publicly traded stock and is only open to a select group doesn't change anything.

I didn't say it was the exact same as regular private business, I said it is quasi private, it governs monetary policy independently of the executive or legislative branches of government, the government holds none of its stock which is entirely held by private banks. You can fudge around with this all you like but the fact is that monetary policy is not controlled by the elected government.

The damn thing was set up to be quasi private, you can go read the premises for setting it up.

And that's not to even start on the conflicts of interests that are apparently taken as wrote with the fed.

Quote Originally Posted by Agronaut
John Snowstorm, your just reading stuff of wiki so give it up. your post was almost word for word.
This amused me since I didn't go anywhere near wikipedia and having run a google search on my paragraph it doesn't match whats in the wiki article at all. Ofc it's going to have some of the same key words, that's the nature of the topic. lol.

A poor attempt at invalidating points so that you don't have to address them.