[Toddsterpatriot]

The Federal reserve is not a part of the government as it is often protrayed, but a privately owned corporation.

They made $91 billion last year and gave $89 billion to the US Treasury. Private? LOL!

[John S Mosby]

Oh, FRiend— they didn’t give anything to our Treasury. We are a client state for the private bankers. And they are of course linked internationally in sovereign debt holdings and the “trading” of the same debt instruments.

This is why the “musical chairs” of the EU crises, etc. waiting to see what country (Greece, Cyprus, Ireland, Spain...in the list of instances) get’s left without a chair when the “music” of debt service and electronic subsidy stops.
All smoke and mirrors.

[Durus]

The Federal Reserve consists of 12 regional Federal Reserve banks, with boards of Directors, under an umbrella direction of the 7 member Federal Reserve Board (14 year terms appointed by the president with the consent of congress)in Washington, with the power to determine major aspects of banking activity, such as setting interest rates, and the reserve and other operational requirements. There are no shares of the Washington Fed Board organization; the only “ownership” of the Fed is in shares of each of the 12 regional banks which are entirely owned by the private member banks within their respective districts, according to a formula based on their size (they must subscribe to the shares with 3% of their capital plus surplus).

The Federal Reserve System claims to be a non-profit organization that turns over its operating profits to the U.S. Treasury, after all expenses, including the 6% dividend to member banks. This is where you get your numbers from, however it fails to account for the majority of true earnings. Profits coming through the privileged money creation process mainly occurs at the member bank level of operation, and those profits are not turned over to the Treasury. That is, the net earnings from the member banks seigniorage privilege are not turned over to our government but kept by the private member banks. Educated estimates put this between $100-200 billion per year. Further the operating expenses deducted from their official turnover appears to be wildly exorbitant.

If you were to argue that they aren't a corporation I would be forced to concede your point. As a corporation is a legal term of art and they don't actually meet the criteria it was a simplified way to refer to the organization which appears to be in a "special" category. However if you still claim that they are not a private organization answer these questions for me.

What branch of government is the Federal Reserve organized under, Executive, legislative or Judicial? (it isn't)

Does the Federal budget office determine the budget of the Federal Reserve? (no it determines it's own budget with no oversight)

How often does the Government Accountability Office audit the Federal reserve? (it doesn't)

Other than the Chairman, Board, who hires the employees of the Federal Reserve? (The Federal Reserve)

Why are Federal Reserve Employees not part of the US Civil Service System and are not covered by government employees’ health insurance or pension programs? (because they aren't government employees)

[Vermont Lt]

And where did the other $2B go. Its not like we are talking thousands or hundreds of thousands.

$2B in profit is quite a lot to spread amongst a relative few people.