[Captain Kirk]

The Fed is NOT a private bank. Unlike other private banks, for example, it can legally create money out of thin air and has extensive regulatory powers over actual private banks. It is best described as coercive corporatist/fascist government-business monopoly cartel.

[RepRivFarm]

Agree that the Fed is not your ordinary bank....it has some "superpowers" because of the US Federal Reserve Act AND the fact that the dollar is the world's reserve currency per Bretton Woods. (sp?)

However, it is not owned by the US government. It is owned by private parties.

[algernonpj]

... It is best described as coercive corporatist/fascist government-business monopoly cartel.

or the embodiment or the fifth plank of the communist manifesto.

Technically it is owned by member banks. Member banks must subscribe to stock in their regional Federal Reserve Bank in an amount equal to 6 percent of their capital and surplus, half of which must be paid in while the other half is subject to call by the Board of Governors.

The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

current listing of large commercial banks