# Who owns the Federal Reserve?

**URL:** <https://boards.straightdope.com/t/who-owns-the-federal-reserve/289822>\
**Category:** Great Debates\
**Created:** [February 13, 2005, 2:38am UTC](https://boards.straightdope.com/t/who-owns-the-federal-reserve/289822 "2005-02-13T02:38:34Z")\
**Posts on this page:** 2\
**Page:** 2

<div class="post-metadata">

**Author:** ![Kel\_Varnsen\_Latex\_Division](https://avatars.discourse-cdn.com/v4/letter/k/aeb1de/32.png) [@Kel\_Varnsen\_Latex\_Division](https://boards.straightdope.com/u/Kel_Varnsen_Latex_Division)\
**Post date:** [February 15, 2005, 2:17am UTC](https://boards.straightdope.com/t/who-owns-the-federal-reserve/289822/21 "2005-02-15T02:17:03Z")

</div>

> [@](#):
>
> International Satanic Jewish Communist Vatican Freemasonic Bilderberger Trilateralist New World Order Conspiracy Cabal, Inc.

Band name.

---

<div class="post-metadata">

**Author:** ![Polycarp](https://avatars.discourse-cdn.com/v4/letter/p/82dd89/32.png) [@Polycarp](https://boards.straightdope.com/u/Polycarp)\
**Post date:** [February 15, 2005, 2:24am UTC](https://boards.straightdope.com/t/who-owns-the-federal-reserve/289822/22 "2005-02-15T02:24:50Z")

</div>

Prior to the Federal Reserve system, the U.S. did have paper money, in the form of United States Notes, Silver Certificates, and Gold Certificates. The latter two were redeemable for their face value in the metal they reference, and secured by reserves of those metals. Gold certificates were withdrawn from circulation in 1933, and silver certificates in the 1960s.

The [United States Notes](http://www.currencygallery.org/large/llt.htm) were indebtedness undertaken by the government, secured partly by the credit of the country and partly by the precious metal reserves. I can recall $5 United States Notes and was aware that they were also issued in the $100 denomination.

[Previous page](https://boards.straightdope.com/t/who-owns-the-federal-reserve/289822.md?page=1)