|
|
|
|
|
|
by FabHK
349 days ago
|
|
|
Nonsense. While thousands of commercial banks are formally shareholders of the 12 (not one) Federal Reserve Banks, > the "ownership" of the Reserve Banks by the commercial banks is symbolic; they do not exercise the proprietary control associated with the concept of ownership nor share, beyond the statutory dividend, in Reserve Bank "profits." … Bank ownership and election at the base are therefore devoid of substantive significance, despite the superficial appearance of private bank control that the formal arrangement creates. https://en.wikipedia.org/wiki/Federal_Reserve#Legal_status_o... See also https://www.atlantafed.org/about/federal-reserve-system/just... |
|
|