PressTV-‘Federal Reserve is owned by Wall Street banks’

America’s Federal Reserve System is a private bank owned by the major banks of Wall Street, according to Stephen Lendman, a Chicago-based author and radio host.

After the stock tanked yet again on Monday, US President Donald Trump compared America’s central banking system, known as the Federal Reserve or the Fed, to a blundering golfer .

“The only problem our economy has is the Fed,” Trump tweeted. “The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!”

“Most people will be very surprised to learn that the Federal Reserve, America’s central bank, is neither federal nor it has reserves,” Lendman told Press TV on Saturday.

“It’s a privately owned bank. It’s owned by the major banks of Wall Street, big ones, city groups, the Bank of America, J.P. Morgan Chase, Goldman Sachs, and Wells Fargo. The heads of these companies own the Fed,” he added.

“It’s just like a cooperation which chairs…

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