As we’ve reported for over 4 years [7], the Federal Reserve banks are private, not government agencies.
Indeed, the government admitted 86 years ago [8] that the Fed banks are private. And the Fed has repeatedly [9] reaffirmed [10] this fact.
As Matt Stoller points out [11], they have just done so again … in the AIG trial. Specifically, government lawyers said:
Now, some of the documents … were not actually produced by the United States, they were produced by the Federal Reserve Bank of New York, which is a third party.
