I’ve documented numerous times that the 12 Federal Reserve Banks are private.

For example, I noted last month:

Given that the 12 Federal Reserve banks are private – see this, this, this and this- the giant banks have a huge amount of influence on what the Fed does. Indeed, the money-center banks in New York control the New York Fed, the most powerful Fed bank. Indeed, Jamie Dimon – the head of JP Morgan Chase – is a Director of the New York Fed.

San Francisco Fed research analyst David Lang has just confirmed this once again:

[Question]: “I had a really quick question, the Federal Reserve Bank of San Francisco specifically, is that formed as a private corporation itself?”

David Lang: “Ah yes it is actually. yes our state chartered banks, banks under a charter share that and we pay a dividend on those shares.”

Hat tip Intel Hub.

Category: Federal Reserve, Think Tank

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “Federal Reserve Analyst: Fed Banks Are Private”

  1. Rouleur says:

    …and this is news to whom?

  2. howardoark says:

    Hmmmmm… perhaps I’m using this space to display my ignorance, but don’t they pay 100% of that dividend to the Treasury and can’t the president fire all of their management without notice? If that’s the case, it seems like it’s a distinction without a difference.