Hi guys! This is my first post and my knowledge in economics is that of a first year law/economics student. I wanted you to help me clarify two issues: 1) Myth (???) nr.1 - Federal reserve is PRivately owned... a lot of politicians mention this fact very often lately etc etc. Is it??? Wikipedia says, it is illegal foR Fed to act in profit - which basically counter acts the"privately owned" goal. which would be profit..... etc etc. Can someone please clarify this issues for me? (helpful links, opinions) 2) IF Fed is state owned, TO WHOM THE US GOV. HAS TO PAY THE 6 trillions of debt (total debt to fed reserve)??? ( from those 1.63 billions is owned in US tre asure securities) I would appreciate if you could share your knowledge. Thank You!