Fact or Myth: The Federal Reserve (The Fed) is a privately owned corporation?

Answer 1

Accoridng to one page:

Who actually owns the Federal Reserve Central Banks? The ownership of the 12 Central banks, a very well kept secret, has been revealed:

Rothschild Bank of London
Warburg Bank of Hamburg
Rothschild Bank of Berlin
Lehman Brothers of New York
Lazard Brothers of Paris
Kuhn Loeb Bank of New York
Israel Moses Seif Banks of Italy
Goldman, Sachs of New York
Warburg Bank of Amsterdam
Chase Manhattan Bank of New York

Answer 2

The Federal Reserve System is owned by the government, but there are some semblance of private bank ownership and influence at the branch level.

When the Federal Reserve was created in 1913, it's structure was a compromise between those that felt it should be private and those that felt it should be public.

At the top of the Federal Reserve are the Board of Governors. These are all appointed for 14-year terms by the president and confirmed by congress. It operates per it's charter and laws set by congress. it is overseen by congress and regularly reports to congress. There is absolutely no structure or mechanism for private ownership at this level. (If someone disagrees, please explain how someone could take legal title to own and control the Board of Governors).

The 12 branches, however, are organized like corporations. Member banks are required to buy shares in the branch. They can vote for 6 of their 9 board members. The shares get a standard 6% dividend. The shares cannot be sold on the open market. All 'profit' from the Federal Reserve branches are turned over to the Treasury at the end of the year. Whether this branch structure constitutes 'private ownership' is the subject of much debate.

The branches are responsible for day-to-day operations working under the rules and regulations set forth by congress and the Board of Governors. Monetary Policy is established by the Board of Governors.

Answer 3

The Federal Reserve is a government agency that regulates U.S. monetary policies, establishes interest rates, and regulates banks.

It serves as the nation's central bank, established by Congress in 1913. Federal Reserve Board members are appointed by the president and approved by the Senate.

Answer 4

Myth.

This myth appeared when the NY Stock Exchange became a private company.
People that believe this are often conspiracy theorists, and have falled for yet another urban myth.

Answer 5

Fact! Its propety of private bankers.

Answer 6

fact i thought everyone new that and im from england

Answer 7

That is correct.

Answer 8

MYTH