Magich,
That's pretty funny and heard it all before. The Federal Reserve is NOT a private company. It is not "owned" by anyone.
"The Federal Reserve System fulfills its public mission as an independent entity within government ... the Federal Reserve derives its authority from the Congress of the United States. It is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms.... "
"The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year. "
But hey, misinformation is a beautiful thing it seems.
http://www.federalreserve.gov/faqs/about_14986.htm
Care to comment on the Reserve Bank of Australia - perhaps you may know more about it? Charter and operation is quite different to USA.
