Who is in charge of the Federal Reserve Bank?

Question

It's the bank who prints dollars out of thin air to lend to Americans and the world!
Biggest rip-off?

Answer 1

Ben Bernanke, Chairman of the Federal Reserve Board of Governors

The Federal Reserve System is controlled by the Board of Governors. They are appointed for 14-year terms by the president and confirmed by congress. The current chair is Ben Bernanke. Other members can be found at http://www.federalreserve.gov/bios/ . You will find some conspiracy theories espouse foreign or private ownership of the system. However, 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 branches are organized like corporations and member banks are required to buy shares.


- Your comment about creating money out of thin air is correct. It is Fiat money, backed only by the full faith of the U.S. Government.

The Fed adds money to circulation by purchasing T-Bills on the open market. Technically, this is not a new loan because the T-Bill was already issued.


- Is it a rip-off? Consider this: When the Fed buys a T-Bill, about 98% of the interest is returned to the Treasury making the loan virtually interest-free. As a taxpayer, that does not sound like a rip-off.

Answer 2

Good question, if you find out be careful. They are a group of private banks, thats all I've ever heard. That information isn't available anywhere. Ever wonder why it needs to be kept secret? It is a rip off. Several things could lead to a serious collapse of American hegemony, one of them is if the black market starts trading in euros. Its worth more, and they have the 500 euro note. Traditionally whatever you were trading, whether it was guns, people, drugs, was paid for in hundred dollar bills. What if those billions come in to collect? Value of the dollar drops to nothing, because its no longer backed by gold or silver. Same thing would happen if the middle east successfully installs trading bourses in which they use a mixture of currencies. Since so much business is done in dollars, it benefits other countries to have a huge stock of dollars, and to invest in its value. What if that werent the case? I think the banks who run the federal reserve are behind a little more than we know. Happy new year.

Answer 3

The federal reserve bank manager of course.!!

Answer 4

A Private bunch that controls all of US since the civil war. Before they only controlled the North, and since NAFTA they control all else. That was what the war was really about as to who would control the US.