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Originally Posted by CyberSEO
Hmmm... this never been a secret actually.
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Actually up until the banking crisis the Fed always claimed it was a government agency publicly. Only since then have they came out publicly acknowledging otherwise. The main reason for doing so is to fend off all of the additional oversight bills that were being introduced, the inquiries into their practices etc. They openly state on their site that the Fed is owned is the by private shareholders. They claim that the shares can't be bought or sold so it makes no difference. But what they don't say is the companies that own those shares can be bought and sold.