Who owns/controls the FED

[jon234]

As per title of the thread who owns and or controls the FED as I am pretty sure they are not the United States governments but I am not 100% sure on that.

[Kontinuum]

https://en.wikipedia.org/wiki/Federa...d_of_Governors

[jon234]

So then is the FED an independent entity?

[I Push Buttons]

So then is the FED an independent entity?

In theory.

[jon234]

So why do some people say the 12 banks of the FED are essentially monopolies

[Fritters154]

So why do some people say the 12 banks of the FED are essentially monopolies

Because combined they control something like 4.5 trillion dollars.

[I Push Buttons]

So why do some people say the 12 banks of the FED are essentially monopolies

Because the Federal Reserve controls all aspects of the monetary system of the country.

[jon234]

Because the Federal Reserve controls all aspects of the monetary system of the country.

That sounds inherently flawed

[I Push Buttons]

That sounds inherently flawed

Not really. It funds itself through its activities and all surplus profit is given to the US government.

Who else is going to control it? Private banks? Clearly they have the peoples' best interests in mind...

[jon234]

Well define activities of the FED, and from what I am reading about the chairwomans policies they seem flawed and destined to fail but that is Janet Yellen for you. a lying chairwoman of the FED.

[Independent voter]

If memory serves the financial people came up with the idea for the Fed.

The president appoints the head of the Fed, but otherwise government can't intervene. Mostly the fed sets the interest rate which was zero percent for a long time.

[Kalis]

The Rothschild family, Bank of England and Hitler's ghost.

[Damajin]

Not really. It funds itself through its activities and all surplus profit is given to the US government.

Who else is going to control it? Private banks? Clearly they have the peoples' best interests in mind...

No one knows who exactly bought the shares in the Federal Reserve, which is actually the 3rd central bank the country has had. So it could very well be private banks or even foreign investors who today control those shares their ancestors bought. They won't reveal who owns them and unless there's some type of superhuman political effort to reveal it they likely never will.

The Federal Reserve is itself a private bank though, not a Federal institution at all. Modeled off the Bank of England, almost verbatim.