Study: Most Americans don't realize federal banks are not solely owned by the government

Most Americans know that the federal government of the United States prints our money.

These Americans also know that the federal government makes all the important fiscal decisions, from the value of interest rates to reserve requirements and all other things money.

Further, 22 percent of respondents admitted they did not know who owns federal reserve banks, 7 percent stated that private corporations own them, while 16 percent stated that a partnership between corporations and the US government was responsible for the Fed and its member banks.

The federal reserve network serves five general functions, with its most obvious role being as a depository of funds for the federal government.

The federal reserve Board of Governors and Federal Open Market Committee take actions that directly impact the American people and, considering America's economic role in the world, the global economy.

The Federal Open Market Committee is a subgroup of the federal reserve, and they are the group primarily responsible for tinkering with American monetary policy.

Beyond manipulating monetary policy, the federal reserve network also serves as a financial resource for smaller member banks in its network.

Regional federal reserve banks also play revenue collectors for the federal government.

Twelve regional federal reserve banks do most of the heavy lifting when it comes to the Fed's administrative roles.

The American federal reserve banks, typified by the D.C.-based Fed, are not owned by anybody, at least in theory.