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The Fedearl Federal Reserve is an agency of US Government created by Congress in 1913. The member banks under Federal Reserve are actually private corporations [[corporation]]s and all the stocks of Federal Reserve are owned by member banks[[bank]]s. Federal reserve notes are in theory backed by the assets of the Federal Reserve, but primarily by the power of Congress to lay taxes on people. See excerpts of interview with
Mr. Ron Supinski of the Public Information Department of the San Francisco, Federal Reserve Bank on October 8, 1992. [http://www.maxexchange.com/ybj/chapter_1.htm]
[http://www.maxexchange.com/ybj/chapter3.htm]
==Related SourceWatch articles==
*[[Bank]]
*[[Federal Reserve Act]]
*[[Federal Reserve Board]]
== External Links links ==
* [http://en.wikipedia.org/wiki/Federal_Reserve_System Federal Reserve at Wikipedia]
* [http://www.liferepatterning.com/SECRETFinancialHistory_of_the_unitedStates.htm#ownAllTheGold Financial History of the United States]
[[Category:Banking industry]][[Category:Government agencies (US)]]
[[Category:United States]]
