Created by an Act of Congress... Yes. Owned by the banks. Right? So is it federal? NO. And your regurgitation about reserves is hilarious. Dollar denominated gold by dollars that are debt notes... Funny thing debt, it only swings one way.
Depends on what you mean by owned. The Fed made over $100 billion last year. Could the "bank owners" decide to keep all those earnings?
And your regurgitation about reserves is hilarious.
I know, it really highlighted your silly claim.
Dollar denominated gold by dollars that are debt notes..
Could you try that again, in English?