Can you explain who owns it then, as plenty of people that have studied this came to the conclsuion is was privately owned.
If not, who do you think owns it?
But i agree that people that do not know the system should stay out of the stock market.
No one who knows anything about the Fed would say it is privately owned. This is a popular myth promulgated by right wing groups and individuals who make a lot of money selling this nonsense. The Federal Reserve is an agency of the federal government created by an act of Congress. It is governed by a board of governors who are appointed by the president and confirmed by congress to terms of 14 years. The federal government owns the Federal Reserve and the Federal Reserve reports directly to Congress as an agency of Congress.
http://www.federalreserve.gov/faqs/about_14986.htm