What purpose does PRIVATE CENTRAL BANKING serve (as opposed to public)?

The FED is nothing more than the US Government's own personal bank..


@ Scott _The Fed is not regulated by Congress and is so private Congress is not even allowed to know what all they do.. Hints H.R. 459 (Federal Reserve Transparency Act) that was proposed by Congressman Ron Paul back in 2009 with 320 cosponsors 179 Republicans, 141 Democrats.

Link to the proposed Bill
http://www.govtrack.us/congress/bills/11...


Other bills that were proposed but died out



S. 604 Federal Reserve Sunshine Act of 2009

H.R. 2424 Federal Reserve Credit Facility Review Act of 2009

S. 2939 A bill to amend title 31, United States Code to require an audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks, and for other purposes.

S. 1803 Federal Reserve Accountability Act of 2009

S. 1457 Federal Reserve Credit Facility Review Act of 2009

S. 513 Federal Reserve Transparency Act


If Congress Regulated the FED then why has all these Congressional attempts been made just see what they do day to day..

EDIT:::

“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world - no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”

― Woodrow Wilson

I don't know, since the Federal Reserve isn't private.

It was created by Congress, is regulated by Congress, and has it's board nominated by the President and confirmed by the US Senate. If it's "private", so is the military.

Edit: OK, you keep claiming that it's "private", but you can't provide any actual proof. Again, the process for picking the board is the same that's used for the heads of the various branches of the military. If you've got proof it's "just for show", then provide it. Just claiming it is isn't proof.

And JFK didn't "go rogue". He actually worked to strengthen the Fed. I can show you the actual steps he took to do so.

Edit again: Sure, Congress isn't allowed to know what they do. Unless they read all of the papers the Fed puts out, or reads the annual audit (which, BTW is published online).

It is to keep the money reserve out of the direct hands of politicians who are inclined "roll the presses" pumping out all they want to spend. That would destroy the monetary system as some countries have done to theirs in the past.

the banks