Quote:Which private banks are owners of the Federal Reserve and are they recipients of the Fed's largess?  If so, why is this obvious conflict of interest the basis for our financial system?

 

About a third of US commercial banks are members of the federal reserve and own stock in the 12 regional Federal Reserve banks.  

 

Every national bank has to be a member.   State chartered banks can apply for membership.  

 

But as I already explained to you, it's not real ownership.  They can't sell or trade the stock, and they can't use it as collateral for a loan, and they have no real control over Fed policy.  

 

Now, you answer a question.   Who owns the banks that are own the stock of the Federal Reserve system?

 

Okay, I'll go ahead and give you the answer.   You and I own them.  And everyone else who owns a mutual fund or an index fund.   Millions and millions of ordinary citizens.  

 

Do they benefit from the Fed's largess?   By law, the fed has to pay them a dividend at a maximum rate of  6%.  

 

You see some kind of shadowy conspiracy in all this, but it's really pretty simple.  If you try to understand it.  

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