Who Owns The Federal Reserve Bank

I was trying to look for this answer, but it's proving a bit difficult. I even went to the actual Federal Reserve site, but the answer is abstract, seemingly deflecting modern conspiratorial concerns while not actually answering the question it attempts to answer. Out of 257 words, only 27 actually even address the question of who owns the federal reserve, while the rest says what it is.

Therefor, I wanted to know if anyone actually understands or knows, definitively, who actually runs the Federal Reserve?

 

that's your answer, right there

congress dictates the fed's objectives and the chairman of the board of governors, carries that out

 

Perhaps. In this sense, if I was to look at it from a lawyers point of view, the definition is so vague and the wording is not really definitive. It seems to describe more what it s not than what it is. For instance, while it might not be "owned" in the traditional sense like one person owns a comb, it may have it's assets divided among primary parties who, through them, exercise virtual control over the federal reserve.

Obviously, that's what I'm leaning toward in my thoughts, but I was trying to see if there was a more definitive answer for what, exactly, the federal reserve is, and what is it's procedures and policies. Who does it operate with, to what extent, and the like.

 

http://www.save-a-patriot.org/files/view/frcourt.html

 

the fed is controlled by the board of governors

the fact that the fed gives all its net-profits to the government effectively demonstrates who's in charge

Federal Reserve turns $77 billion profit

By Annalyn Censky @CNNMoney March 20, 2012

Each year after paying its own bills, the central bank hands its remaining earnings to the Treasury. As a result of last year's windfall, the Fed will turn $75.4 billion of its profit over the Treasury.

http://money.cnn.com/2012/03/20/news/economy/federal_reserve_profit/index.htm

save a patriot, what a joke

why would a private bank give all its net-profits to the government?




this is how congress controls the fed, by law



Federal Reserve Act

Section 2A. Monetary Policy Objectives

The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.

Section 2B. Appearances Before and Reports to the Congress

(a) Appearances before the Congress

The Chairman of the Board shall appear before the Congress at semi-annual hearings, as specified in paragraph (2), regarding
the efforts, activities, objectives and plans of the Board and the Federal Open Market Committee with respect to the conduct of monetary policy; and economic developments and prospects for the future described in the report required in subsection (b).

The Chairman of the Board shall appear before the Committee on Banking and Financial Services of the House of Representatives on or about February 20 of even numbered calendar years and on or about July 20 of odd numbered calendar years; before the Committee on Banking, Housing, and Urban Affairs of the Senate on or about July 20 of even numbered calendar years and on or about February 20 of odd numbered calendar years; and before either Committee referred to in subparagraph (A) or (B), upon request, following the scheduled appearance of the Chairman before the other Committee under subparagraph (A) or (B).


(b) Congressional report. The Board shall, concurrent with each semi-annual hearing required by this section, submit a written report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Banking and Financial Services of the House of Representatives, containing a discussion of the conduct of monetary policy and economic developments and prospects for the future, taking into account past and prospective developments in employment, unemployment, production,investment, real income, productivity, exchange rates, international trade and payments, and prices.

(c) Public access to information. The Board shall place on its home Internet website, a link entitled `Audit', which shall link to a webpage that shall serve as a repository of information made available to the public for a reasonable period of time, not less than 6 months following the date of release of the relevant information, including the annual financial statements prepared by an independent auditor for the Board in accordance with section 11B; the reports to the Committee on Banking, Housing, and Urban Affairs of the Senate required under section 13(3) (relating to emergency lending authority); and such other information as the Board reasonably believes is necessary or helpful to the public in understanding the accounting, financial reporting, and internal controls of the Board and the Federal reserve banks.

http://www.federalreserve.gov/aboutthefed/fract.htm

 

LOL, go ahead and try and undermine a source that is using court documents......really?

Don't change the subject.

By what definition of Federal oversight can you call the FED a Federal agency?

When was the last time Congress told the FED what its monetary policy should be?

Hell can you even tell me what the FED's mission statement is, and who wrote it?

 

first answer the question i posed in the previous post, then i will answer yours

why would a private bank give all its net-profits to the government?

 

There is a difference between oversight/regulation and direct authority. I believe the nations highest private banks also fall under such formal regulatory commands and federal oversight that demands briefing, audits, and fairly limited disclosure, but the parameters or the extent of the depth of the audits can be restricted by the banks, themselves.

I always focus on what is left out, so the fact that, though appointed by the government, the Board of Governors function independently of the government and do not receive funding from the government (as a mandate or necessity at least), in our present world, raises all sorts of other questions, but I won't bother you further with it. I didn't continue looking into the question at the time, but I'll give it a go and see what I can find.

I'll try to stay grounded

 

it seems to me that you're only grounding yourself to misinformation and political propaganda

show me another bank that is more audited than the fed

no private banks have to regularly sit in front of congress and explain what they've been doing to to promote effectively the goals set by congress, of maximum employment, stable prices, and moderate long-term interest rates

the board of governors works to achieve congress' goals through free-market mechanisms and uses its independence to avoid partisan influence, which is why it funds itself

the bottom line is that no private bank gives all its net-profits to government



The Federal Reserve System is considered to be an independent central bank because its decisions do not have to be ratified by the President or Congress to establish the National Monetary Commission, which put forth proposals to create an institution that would help prevent and contain financial disruptions of this kind. After considerable debate, Congress anyone else in the executive branch of government. The System is, however, subject to oversight by the U.S. Congress. The Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government; therefore, the description of the System as “independent within the government” is more accurate.

Congress chartered the Federal Reserve Banks for a public purpose. The Reserve Banks are the operating arms of the central banking system, and they combine both public and private elements in their makeup and organization. As part of the Federal Reserve System, the Banks are subject to oversight by Congress.

Boards of directors of the Reserve Banks provide the Federal Reserve System with a wealth of information on economic conditions in virtually every corner of the nation. This information is used by the FOMC and the Board of Governors in reaching major decisions about monetary policy. Information from directors and other sources gathered by the Reserve Banks is also shared with the public in a special report, which is issued about two weeks before each meeting of the FOMC.

here's a link to the fed pamphlet: The Federal Reserve System Purposes and Functions

 

I don't know, why don't you ask the bank of North Dakota!!

 

they're not a private bank, they're owned by the state of north dakota

http://banknd.nd.gov

 

Da Joos.

 

what about them?

 

Thanks for the link and the information. I'll look at it in time.

 

Da Joos own Da Fed.

 

This is like argueing that a credit union is a communist organization.

 

try reading the posts i've made here that show you're completely wrong

your bs is ludicrous, what i said is completely true

they're not a private bank, they're owned by the state of north dakota

"As the only state-owned bank in the nation we act as a funding resource in partnership with other financial institutions…"

http://banknd.nd.gov

 

http://en.wikipedia.org/wiki/Bank_of_North_Dakota

 

from your own source:

"The Bank of North Dakota (BND) is a state-owned and -run financial institution based in Bismarck, North Dakota."

state owned isn't private


and another source says:

"the Bank of North Dakota is not a private bank"

The Northwestern reporter - Volume 182 - Page 293

 

So if I own a credit union because I am a member, does that mean it is impossible for me to rob a credit union, as it is already mine?

In what physical way is the bank of North Dakota owned by the state?

I claim to own the moon, but its orbit is not in my control, nor its rotation, so in what physical way do I own the moon?

If this is a legal argument then lets go back to my first post where I source multiple court decisions that state the FED does not meet the criteria legally to be called a Federal agency.

if it isn't a Federal Agency, and isn't privately owned, then what exactly is the FED?

 

you remind me of sarah palin trying bs her way out of looking like the idiot that she is

 

You remind me of a coward running away.

 

you obviously have problems grasping reality, i'm right here

and have cited multiple sources, including the bank itself, showing that bnd is not a private bank

 

My point was not to prove that the bank of N. dakota was a private bank, but to show how the definition of a credit union, and the Bank of N. Dakota is a matter of semantics.

There are only two conversations here.

Who is the FED physically owned and operated by?

is the FED legally defined as a Federal Agency?

You keep playing this game where you don't want to discuss who actually operates the FED, but also don't want to talk about the legal definition.

Pick one!