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Is the Federal Reserve Bank a government entity or a private bank?

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Asked By: smasmaagain 51-55, M  6 months ago

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    Best Answer (Chosen By Asker):

    WildSpectrumArts - 46-50 years old - female

    Posted by WildSpectrumArts Nov 22nd, 2012 at 7:59AM

    It is a private bank that clears/holds money for the federal government. It dispenses funds to other banks within a specified area.

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  1. smasmaagain - 51-55 years old - male

    Reply by smasmaagain Nov 22nd, 2012 at 8:00AM

    sounds like you have been doing your homework! Go get em. Each dollar is a note of debt, you or I max out our cards 16 trillion, bad things happen lol

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  2. WildSpectrumArts - 46-50 years old - female

    Reply by WildSpectrumArts Nov 22nd, 2012 at 8:02AM

    I have very good knowledge of it. I don't get into the specifics of what people do with their money. I am wise with mine.

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3 Answers to "Is the Federal Reserve Bank a government entity or a private bank?"

  1. weirdcolor - 36-40 years old - male

    Posted by weirdcolor Nov 22nd, 2012 at 8:15AM

    There are 12 Federal Reserve Banks. They have an intermediate legal status, with some features of private corporations and some features of public federal agencies. In particular, profits belong to the federal government, but this interest is not proprietary.

    Source: http://en.wikipedia.org/wiki/Federal_Reserve_Bank#Legal_status

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  2. smasmaagain - 51-55 years old - male

    Reply by smasmaagain Nov 22nd, 2012 at 8:27AM

    true, and a very gloomy picture indeed. So my question is who profits from our looming demise. I may know the answer and have difficulty facing it

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  3. HeartLikeAChild - 46-50 years old - male

    Posted by HeartLikeAChild Nov 22nd, 2012 at 8:15AM

    Just as local and State government have bonding bills which borrow money ....the Federal Reserve is a private entity though which our entire country vote on "bonding bills" to borrow money.

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  4. smasmaagain - 51-55 years old - male

    Reply by smasmaagain Nov 22nd, 2012 at 8:24AM

    I didnt get to vote did you?

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