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Same goes for the Federal Reserve, which is why there's so many conspiracy theories around it: >The stockholders in the 12 regional Federal Reserve Banks are t
by casefields 6y ago
Same goes for the Federal Reserve, which is why there's so many conspiracy theories around it:
>The stockholders in the 12 regional Federal Reserve Banks are the privately owned banks that fall under the Federal Reserve System. These include all national banks (chartered by the federal government) and those state-chartered banks that wish to join and meet certain requirements. About 38 percent of the nation’s more than 8,000 banks are members of the system, and thus own the Fed banks.
https://www.factcheck.org/2008/03/federal-reserve-bank-ownership/ https://www.factcheck.org/2008/03/federal-reserve-bank-owner...
- zrail 6y agoThe Federal Reserve is not misleadingly named. It was created by an act of the US Congress. The board is appointed by the President and the Congress sets their salaries. It’s completely appropriate for it to bear the word “Federal” in it’s name. The conspiracy theories are because people make up stories to fill in what they don’t understand.
- zapttt 6y agojust the same as they set the salaries for cleaners they hire from private cleaning co. via a procurement. should they also rebrand as federal cleaning?
- mandelbrotwurst 6y agoThe FRB is often described as "private", but it really isn't, certainly not in the way that FedEx is. It: 1. Has the website https://www.federalreserve.gov/ https://www.federalreserve.gov/ 2. Seems to be considered a federal agency, given that it is subject to FOIA request 3. Was created by the federal government 4. Is run by a Presidentially appointed chairman ...etc....etc...