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Reply #17: who owns the federal reserve bank? [View All]

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ama Donating Member (76 posts) Send PM | Profile | Ignore Sun Aug-27-06 11:38 AM
Response to Reply #3
17. who owns the federal reserve bank?
The Federal Reserve Banks are nominally "owned" by the private member banks (see below). In Lewis v. United States, 680 F.2d 1239 (9th Cir. 1982), the United States Court of Appeals for the Ninth Circuit stated that the "the Reserve Banks are not federal instrumentalities for purposes of the FTCA , but are independent, privately owned and locally controlled corporations."
http://en.wikipedia.org/wiki/Federal_Reserve_Bank
so i guess they´ll make a profit when peoples debt on thier house is greater than its value
in the 80´s interest was up to 28%
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