[TDL]

If the FED is private why does turn it's profits over to the US Treasury every year? Why is the Chairman & members of the Board of Governors nominated by the President & confirmed by the U.S. Senate.

I don't like the Federal Reserve either, but ignorance & conspiracy theories of the way the system actually works does no one any good.

"The members of the Board of Governors are nominated by the President of the United States and confirmed by the U.S. Senate." http://www.federalreserve.gov/faqs/about_12591.htm