Express Reserve
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What qualities do the Federal Reserve and Federal Express share?
The thing that is the same between them is the word "Federal" in their names. The claims that the Federal Reserve is a private company that operates for profit are MYTHS. The Federal Reserve was established by a law passed by Congress in 1913. That law has been amended several times since then. The Federal Reserve is structured and operates in accordance with that law. Anyone who tells you differently has been duped by conspiracy theory nonsense.
The Federal Reserve is controlled by the Board of Governors whose members are appointed by a President and confirmed by the Senate. The Board of Governors does not issue or have any stock.
Beneath the Board of Governors there are 12 Federal Reserve district banks. These do have stock, but that stock does not confer any rights of ownership in the bank or the system. The stock is not traded or sold. Nationally chartered banks are required by law to subscribe to the stock. Some state banks may subscribe to the stock if they meet certain requirements. The amount of stock a member bank must subscribe to is set by law. The member bank may hold no more and no less than the amount subscribed by law. No public stock in any Federal Reserve district bank has ever been issued.
If you want to learn more about the structure of the Federal Reserve and how the system works, look for reliable sources of information. YouTube videos, various websites, and books that are not authored by economic experts are not reliable.
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