Re:Sleeping beauty Bitcoin wallets wake up after 14 years to...
by FabHK on Saturday July 05, 2025 @07:18AM
(#44471918)
Nonsense. While thousands of commercial banks are formally shareholders of the 12 (not one) Federal Reserve Banks,
> the "ownership" of the Reserve Banks by the commercial banks is symbolic; they do not exercise the proprietary control associated with the concept of ownership nor share, beyond the statutory dividend, in Reserve Bank "profits." … Bank ownership and election at the base are therefore devoid of substantive significance, despite the superficial appearance of private bank control that the formal arrangement creates.
> the "ownership" of the Reserve Banks by the commercial banks is symbolic; they do not exercise the proprietary control associated with the concept of ownership nor share, beyond the statutory dividend, in Reserve Bank "profits." … Bank ownership and election at the base are therefore devoid of substantive significance, despite the superficial appearance of private bank control that the formal arrangement creates.
https://en.wikipedia.org/wiki/Federal_Reserve#Legal_status_o...
See also https://www.atlantafed.org/about/federal-reserve-system/just...