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Originally Posted by tynashracing
First, I was referencing the video that I posted. I think JCL has mistaken the term "federal" banks. I've yet to go back and watch the vid again...but, from my recollection...it was Central banks that were discussed as being privately owned.
Let me be clear....the Central bank in the USA is PRIVATE. The Federal Reserve is PRIVATELY OWNED...it's not a govt entity.
I'm not sure why you're referencing governments and Central banks together...as if they're a part of govt.?! I don't know what you're saying MD?
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Maybe we are quibbling over definitions and terms, and I was poking as you have announced yourself as a 'I am in finance' several times.
'Central Banks', in most countries are governmental at the least, in every case I am aware of.
The 'central bank' of the United States, may be referred to as the Federal Reserve, imo. As you probably know it is comprised of federal banks and state chartered banks and some quasi-public banks that fall under its 12 geographical jurisdictions. So, in that respect it is 'private', but a not for profit overseer.
Its Fed Open Mkt Comm & Board of Governors, are the mgmt people whispering in the Fed Chairman's ear, and that 7 member BoG is appointed by a prez. Their decisions need not be approved by Congress or any prez...they are 'overseen' by Congress. They are not funded by the government, but they aren't exactly 'private' eg a private, for profit company, other than its members are all probably quite wealthy.
I had heard about Russo and his stuff; when I have an hour and a half to kill, I may watch more than the cursory skim I gave it. Back at the Rant Ranch, their is little to nothing any of us can or will do to 'change' most of those issues, imo.