[Moonman62]

But where is the Fed incorporated? All private companies are incorporated somewhere.

[theBuckwheat]

The Federal Reserve is a Federal corporation, like the Boy Scouts and the Red Cross. The difference is that the shares are owned by National banks in direct proportion to their assets. If your town has a bank that has the word “national” in its name, it is a shareholder in the Federal Reserve corporation.

(Organizations like the Red Cross are called “Congressionally Chartered Organizations” or “Title 36 Corporations”. See:
http://www.llsdc.org/sourcebook/docs/CRS-RL30340.pdf)

A key to the status of all these organizations is simple: in whose name do they file lawsuits and who represents them in court? The Federal Reserve files suit in its own name and defends itself with its own attorneys, not ones in the employ of the federal government.

The court case I cited was decided over the issue of whether the Federal Reserve was an “agency” of the federal government for purposes of someone filing suit against it. The judge ruled it was not an agency of the federal government.