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[Congressman Louis T. McFadden, Chairman of the House Banking & Currency Committee, speech on the floor of the House of Representatives, June 10, 1932] The Federal Reserve Bank of New York does not maintain accounts for members of the public, so representatives would never call to discuss an individual's personal accounts or finances, nor would Federal Reserve Bank of New York representatives ever ask for a fee, tax payment, reimbursement or anything of value from the public. The first misconception that most people have about the Federal Reserve Bank is that it is a branch of the US government. Basically the Federal Reserve will buy out the U.S. debt to the tune of over 2 trillion per month; making the U.S. debt-free by around the 2020 election. “The real truth of the matter is, as you and I know, ... Each Federal Reserve Bank, the stock is owned by the member banks in the district, 100% privately held, they are private boards of directors. December 2, 2012. Possibly no more income tax. Instead, they were simply sharing something they read which “sounded about right” given their limited knowledge and understanding of the institution. The FEDERAL RESERVE BANK is not owned and controlled by the U.S. Government, rather it is owned and operated by International families. 1/07/2019 12:50:00 AM News . The TRUTH About The Federal Reserve Bank. Federal Reserve Bank, the Truth: Common Thieves “I have said little about the purposes of the Reserve System, for there is little to say, and that is that The Federal Reserve System was created by an act of Congress, at the behest of bankers, for the purpose of giving bankers absolute control of this country, giving them title to the wealth of the Nation. We just restructured the Federal Reserve System. The truth is the Federal Reserve Board has usurped the Government of the United States by the arrogant credit monopoly which operates the Federal Reserve Board." Then the Federal Reserve will possibly file for bankruptcy and be gone, along with their privately owned IRS. It isn’t. patriot. A clandestine meeting on Jekyll Island 100 years ago was a pivotal step in the evolution of the Federal Reserve System. The Federal Reserve Bank is a private company. Commercial banks that are members of the Federal Reserve System hold stock in their District’s Reserve Bank and elect six of the Reserve Bank’s directors; three remaining directors are appointed by the Board ... Those who posted it meant well, but they obviously have never studied the Federal Reserve Bank in any detail. They are not agencies. The Truth About the Federal Reserve Bank November 7, 2009 — crapaganda . The majority of those boards are appointed by the independent banks, private banks in the district. Pursuant to the Federal Reserve Act, each of the 12 Reserve Banks is separately incorporated and has a nine-member board of directors. 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