https://www.stlouisfed.org/in-plain-english/who-owns-the-federal-reserve-banks
“The Federal Reserve Banks are not a part of the federal government, but they exist because of an act of Congress. Their purpose is to serve the public. So is the Fed private or public?
The answer is both. While the Board of Governors is an independent government agency, the Federal Reserve Banks are set up like private corporations.”
I may not have chosen precisely correct wording in my original post, but I think the public perceives the Federal Reserve Banks to be as “public” as the US Army, Treasury Department, or National Parks. In fact, they are in a shadow world and could be seen as private corporations.
To me, this sort of thing is the essence of the fascist system we now live under — is it government? Is it private business? Well, both. Neither. Doesn’t matter. Sort of the same thing. That’s how “We The People” get cut out of the deal.
Like private corporations that turn over all their earnings to the US Treasury.
That’s how “We The People” get cut out of the deal.
Except “We The People” get all the earnings.