As this is still the most important institution in terms of influencing markets I wonder why the Fed does not publish this extremely important piece of information that could provide valuable information about who really pulls the strings in an organisation which uses two different suffix on the web. The server of the Federal Reserve is named "federalreserve.gov" whereas the FRB's server is registered as "frb.org" (corr.27/5/09/ .
The only lists of shareholders of the Fed found on the web through a Go-ogle search are hopelessly outdated and appear to stem from the first half of the 20th century. Or is anyone still doing business with Chase National?
As non-American I cannot file a FOIA (Freedom of Information Act) request as this institution was defined as a semi-private organization. According to this wikipedia entry
"The plan adopted in the original Federal Reserve Act called for the creation of a System that contained both private and public entities."The Federal Reserve Act was pushed through on Capitol Hill on December 23, 1913 after a secretive meeting of the USA's bankers elite on Jekyll Island.
Today I used the inquiry form on the Fed's website and asked the following questions directly to the FRB:
Dear FRB members,I am curious as to whether I will get an answer to one of the most important questions regarding capital markets.
I have a very simple question: Where can I find a list of current shareholders of the Federal Reserve? On the web I only find hopelessly outdated lists that seem to stem from the first half of the 20th century as most of these institutions are not in business anymore. Can you please provide me with a current list of shareholders and the number of shares they are holding?
I have filed this question in autumn 2008 as a general inquiry but never received any answer so far.
My second question concerns the status of the Federal Reserve as there is a server name "federalreserve.gov" but also a server name "FRB.org." Is it a private or a public institution?
My third question is why the shareholders of the Federal Reserve receive a guaranteed 6% dividend that is not taxable?
I am most grateful for an answer.
Toni Straka, CEFA
In order to find truth one usually has to follow the money trail.
Follow the Money - Find the Truth
Let's see where I get. In case I am not getting an answer I am calling all bloggers and everybody else to use the said form so that the Fed recognizes that transparent markets need to be transparent in terms of ownership in the first place and the broad public has a vital interest whether it was private or a public organization whose loose monetary policy and the rejection to regulate markets effectively have led to the biggest economic and financial crisis in mankind's history.
The Fed is certainly the most privileged institution in the world, only having to give testimony on Capitol Hill twice a year and getting away with "missing" $9 TRILLION.
Isn't all this a conundrum? It is!