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> Doesn't the Copyright Act of 1976 place government works into public domain? The Federal Reserve is about as federal as Federal Express.

mindslight 3y ago
The Federal Reserve is a de facto branch of government. To the extent that it manages to legally and politically suppress this fact, and perhaps even has a plausible claim to create "trade" marks and whatnot, is just part of the general corruption surrounding it.
- kolanos 3y ago
  > Is the Federal Reserve a privately owned corporation? > > Yes and no. The Federal Reserve (the Fed) enjoys a unique public/private structure that operates within the government, but is still relatively independent of government to isolate the Fed from day-to-day political pressures in fulfilling its varying roles. > > The Federal Reserve System is considered to be an independent central bank. [0] [0]: https://www.frbsf.org/education/publications/doctor-econ/2003/september/private-public-corporation/#:~:text=The%20Federal%20Reserve%20(the%20Fed,in%20fulfilling%20its%20varying%20roles https://www.frbsf.org/education/publications/doctor-econ/200...
  - mindslight 3y ago
    Sure, so not like Federal Express at all. Just because a part of the government is insulated and less accountable than the rest of the government, doesn't mean it isn't government - regardless of this "independence" it's still setting inescapable policy.
    - kolanos 3y ago
      It has government oversight, but so does every other bank that operates in the United States. So not much of a distinction there. The Federal Reserve is in effect a consortium of banks acting as an independent central bank more so than a government entity. > The Fed is independent in the sense that monetary policy and related decisions are made autonomously and are not subject to approval by the federal government. [0] It isn't just insulated, it is independent. The Federal Reserve's shareholders are the member banks, not the public. > Federal Reserve Banks' stock is owned by banks, never by individuals. Federal law requires national banks to be members of the Federal Reserve System and to own a specified amount of the stock of the Reserve Bank in the Federal Reserve district where they are located. [1] Federal Express, too, is subject to similar government oversight being a publicly traded private corporation. [0]: https://www.investopedia.com/articles/investing/041515/why-federal-reserve-independent.asp#:~:text=The%20Fed%20is%20independent%20in,must%20be%20confirmed%20by%20Congress https://www.investopedia.com/articles/investing/041515/why-f.... [1]: https://www.cga.ct.gov/PS95/rpt/olr/htm/95-R-1200.htm#:~:text=Federal%20Reserve%20Banks%27%20stock%20is,district%20where%20they%20are%20located https://www.cga.ct.gov/PS95/rpt/olr/htm/95-R-1200.htm#:~:tex....
      - ianburrell 3y ago
        The Federal Reserve chairman and all of the board of governors are appointed by the President. Banks have no involvement in the Federal Reserve. There are no Federal Reserve shareholders. Banks are involved with the regional Federal Reserve Banks. But the Federal Reserve Banks are controlled by the Federal Reserve and have pretty minor powers.
        kolanos 3y ago
        > Banks have no involvement in the Federal Reserve. Sure they don't. That's why Ben Bernanke now serves on the board of two of them (Citadel, PIMCO). And Alan Greenspan serves on three (Deutsche Bank, PIMCO, Paulson & Co). If you've never heard of PIMCO, it is the investment bank that advises central banks on their policies and investments, including the Federal Reserve. But banks have no involvement, of course. > PIMCO is one of the largest investment managers, actively managing more than $2 trillion in assets for central banks, sovereign wealth funds, pension funds, corporations, foundations and endowments, and individual investors around the world. [0] [0]: https://en.wikipedia.org/wiki/PIMCO https://en.wikipedia.org/wiki/PIMCO
- imsurgio 3y ago
  Nope. They just bill us huge amounts to rule money. They are not a function of government. They are a for profit organization with zero loyalties to the US. When the well dries here, they just move on.

mindslight 3y ago

The Federal Reserve is a de facto branch of government. To the extent that it manages to legally and politically suppress this fact, and perhaps even has a plausible claim to create "trade" marks and whatnot, is just part of the general corruption surrounding it.

kolanos 3y ago
> Is the Federal Reserve a privately owned corporation? > > Yes and no. The Federal Reserve (the Fed) enjoys a unique public/private structure that operates within the government, but is still relatively independent of government to isolate the Fed from day-to-day political pressures in fulfilling its varying roles. > > The Federal Reserve System is considered to be an independent central bank. [0] [0]: https://www.frbsf.org/education/publications/doctor-econ/2003/september/private-public-corporation/#:~:text=The%20Federal%20Reserve%20(the%20Fed,in%20fulfilling%20its%20varying%20roles https://www.frbsf.org/education/publications/doctor-econ/200...
- mindslight 3y ago
  Sure, so not like Federal Express at all. Just because a part of the government is insulated and less accountable than the rest of the government, doesn't mean it isn't government - regardless of this "independence" it's still setting inescapable policy.
  - kolanos 3y ago
    It has government oversight, but so does every other bank that operates in the United States. So not much of a distinction there. The Federal Reserve is in effect a consortium of banks acting as an independent central bank more so than a government entity. > The Fed is independent in the sense that monetary policy and related decisions are made autonomously and are not subject to approval by the federal government. [0] It isn't just insulated, it is independent. The Federal Reserve's shareholders are the member banks, not the public. > Federal Reserve Banks' stock is owned by banks, never by individuals. Federal law requires national banks to be members of the Federal Reserve System and to own a specified amount of the stock of the Reserve Bank in the Federal Reserve district where they are located. [1] Federal Express, too, is subject to similar government oversight being a publicly traded private corporation. [0]: https://www.investopedia.com/articles/investing/041515/why-federal-reserve-independent.asp#:~:text=The%20Fed%20is%20independent%20in,must%20be%20confirmed%20by%20Congress https://www.investopedia.com/articles/investing/041515/why-f.... [1]: https://www.cga.ct.gov/PS95/rpt/olr/htm/95-R-1200.htm#:~:text=Federal%20Reserve%20Banks%27%20stock%20is,district%20where%20they%20are%20located https://www.cga.ct.gov/PS95/rpt/olr/htm/95-R-1200.htm#:~:tex....
    - ianburrell 3y ago
      The Federal Reserve chairman and all of the board of governors are appointed by the President. Banks have no involvement in the Federal Reserve. There are no Federal Reserve shareholders. Banks are involved with the regional Federal Reserve Banks. But the Federal Reserve Banks are controlled by the Federal Reserve and have pretty minor powers.
      - kolanos 3y ago
        > Banks have no involvement in the Federal Reserve. Sure they don't. That's why Ben Bernanke now serves on the board of two of them (Citadel, PIMCO). And Alan Greenspan serves on three (Deutsche Bank, PIMCO, Paulson & Co). If you've never heard of PIMCO, it is the investment bank that advises central banks on their policies and investments, including the Federal Reserve. But banks have no involvement, of course. > PIMCO is one of the largest investment managers, actively managing more than $2 trillion in assets for central banks, sovereign wealth funds, pension funds, corporations, foundations and endowments, and individual investors around the world. [0] [0]: https://en.wikipedia.org/wiki/PIMCO https://en.wikipedia.org/wiki/PIMCO
imsurgio 3y ago
Nope. They just bill us huge amounts to rule money. They are not a function of government. They are a for profit organization with zero loyalties to the US. When the well dries here, they just move on.