Is The Federal Reserve Privately Owned? ?

Question

The Kennedy family to this day still claim it is, and tried to Stop it with Executive Order No. 11110 before his death!

http://www.jfklibrary.org/Historical+Resources/Archives/Reference+Desk/John+F.+Kennedy+Miscellaneous+Information.htm

Answer 1

No.  The Federal Reserve System is an agency of the United States government.

It is the central bank of the United States and is responsible for the supervision and regulation of the banking system.

I don't understand your question abut the "books being closed to the public"  since the Fed publishes annual reports for the system as a whole and each of the 12 districts.  The annual report for the Philadelphia district alone (I live near Philly so I picked it as a sample)  is 122 pages.  That is one heck of a lot more than the annual reports provided by most major corporations.

Hope this helps

Jerry-the-bookkeeper

Answer 2

gov body partly run by the dept of treasury.

it regulates many banking entities and banks are reg'd by

the fed treasury dept and others and the state banking super.

Answer 3

John: Sounds like you're getting your fed info from conspiracy sites.

Let's review the various parts of your question

- Re: Federal Reserve Privately Owned

No, definitely not in the classical sense. But the branches can be considered 'member owned'

To review

The Federal Reserve System is a congressionally-chartered agency like the USPS and NASA. It is organized with a 100% government agency at the top (the Board of Governors), branches beneath them that are organized like corporations with member banks as shareholders.(Ref: http://www.federalreserveeducation.org/f... , http://www.federalreserve.gov/generalinf... )

The Board of Governors are all appointed for 14-year terms by the president and confirmed by congress. It operates per it's charter and laws set by congress. it is overseen by congress. There is no structure or mechanism for private ownership at this level; it is a government agency. You can confirm this from a number of government sites that list it as a government agency (e.g. http://www.whitehouse.gov/government/ind... Board members are forbidden by law to have any economic interest in a private bank. (Ref: Title 12 chapter 3 of the U.S. Legal Code). The Board determines monetary policy and provides high level oversight of the branches.

The 12 branches can be considered highly regulated private corporations. Member banks are required to buy shares in their branch. Each bank has one vote.  They can vote for 6 of their 9 board members, the other 3 are appointed by the Board of Governors.  Though the branches are called non-profit, the member banks get a standard 6% dividend on their shares. The remaining 'profit' is turned over to the Treasury at the end of the year.

For confirmation on this, check out how Hoovers classifies them:

http://www.hoovers.com/free/search/simpl...

- Re: Executive Order 11110

This is one of the wackier Kennedy Assassination theories.

The theories point to Executive Order 11110 signed by Kennedy which delegated authority to the Treasury Secretary  to print silver certificates at will (ref: http://en.wikipedia.org/wiki/Executive_o... ). The theory goes that this would put the Federal Reserve out of business.

One only needs to examanine the claims to realize how silly the theory is.

- Given all the Fed duties and responsibilities, to claim that issuing silver certificates would nullify all the Fed duties is preposterous

- Ever since it's inception, the Federal Reserve has worked with whatever the currency of the realm. Federal Reserve notes circulated along side silver certificates, gold certificates, and coins. From a day-to-day operations side, it really makes no difference.

- History showed that the government was trying to get away from the silver standard. Silver prices were rising to the point where a silver dollar would have more than a dollars worth of silver. This executive order was seen as giving the Treasury Secretary more flexibility to do that.

- There was not enough silver to replace all the currency in circulation with silver certificates.

- Kennedy scholars have concluded it is a hoax. In this link (http://www.devvy.com/patriot4_20021117.h... ), there is a story on a Ron Paul aide doing research to 'prove' the story only to come up empty.

http://mcadams.posc.mu.edu/weberman/jfk....

http://www.lib.umich.edu/govdocs/jfkeo/e...

http://www.devvy.com/patriot4_20021117.h...

- Re: Books closed to the public

More nonsense. The Fed has always been subject to audits including independent ones. Here is a link to some of their audits and annual reports: http://www.federalreserve.gov/boarddocs/...

In addition, each branch has it's own audit that you can usually find at their sites.

In the age of Google, you would think this theory would die with a simple search

Answer 4

Yes. watch this video

http://www.youtube.com/watch?v=ji_G0MqAq...