Originally Posted by
EchoVictor
1. Deposits are always a liability for a bank. It's money the bank owes to someone (the depositor). So my original point was to say that the article is essentially correct when it described NTBK's balance sheet as having xxx in deposits and xxx in assets. The original poster didn't understand this.
2. I know all about the Fed. It is not a private bank. The Federal Reserve is a system and various components have differing legal states. The board of governors is actually a government agency. But yes, the Federal Reserve Banks are ultimately privately owned by the commercial banks in their respective regions, although these shareholders have limited abilities to control these stakes.
3. You are technically correct on OTS/FDIC but you realize they usually act in unison. And if FDIC refused to insure a bank's deposits going forward, this would effectively shutter any bank.
The Federal Reserve is a PRIVATE BANK. Do you know WHO owns the FED? Why dont you try to look it up? Why dont you look up the fed in the white pages? Its listed right under Federal Express. The Federal Reserve Act of 1913 clearly spells it out, thanks to illuminati cabal of Wodrow Wilson.
Ever heard of inflation? Inflation never existed until the Fed was given authority of printing money and lending to to YOU. FYI, Every penny of your income tax (EVERY) goes to repay Fed issued loans to YOU (and me). How can oyu say, No the Fed is not a private bank but its owned by a consortium of banks that are private... Try to find out WHO owns the private banks and you will be in a big surprise. The fact is that the "central bank" that we know as the Fed is a private bank controlled and owned by few big names (rockfeller, warburg, rothschild, morgan). And this is a FACT. Look it up. Just google federal reserve private bank
http://www.truthusa.org/articles/fed/fedtruth2004.htm