Quote Originally Posted by Michael Joseph View Post
Sort of a double edged sword - huh? But since they are that might mean one is a "Member Bank" - or in banking practices. And that is a benefit. So in mutual exchange - a benefit must have consideration - one might consider that consideration to be a tax or perhaps even a use fee. FEE being the qualification.
http://www.richmondfed.org/banking/f...ve_membership/

According to their website you have to meet requirements in order to become a Member bank. You asked why are they in your pocket if you're not a federal reserve agent. How about you tell me what they are doing in your pocket. Just because somebody might have thought you were a federal reserve agent doesn't give you the right to use them for some other purpose (as in buying goods and services) as it says in 12 USC § 411 Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are authorized.

I still don't see what gives you the right to demand anything when you're not a federal reserve bank. only the board of governors or the federal reserve banks can make the demand as they are only meant to be exchanged between them.