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the Fed is actually privately owned by a consortium of banks https://www.globalresearch.ca/who-owns-the-federal-reserve/10489 https://www.globalresearch.ca/who
by solotronics 6y ago
the Fed is actually privately owned by a consortium of banks
https://www.globalresearch.ca/who-owns-the-federal-reserve/10489 https://www.globalresearch.ca/who-owns-the-federal-reserve/1...
- SaltyBackendGuy 6y ago> The Fed generates profits for its shareholders. (from the article) I wish I had something more articulate to say; this truly boggles my mind how this would benefits the American people. It should benefit us as American's right?
- solotronics 6y agoone could argue that it is a scam but so far it has benefited everyone enough so that they don't notice
- MR4D 6y ago> benefited everyone I question that. Go read “The Panic of 1907” and I think you will question it as well.
- download13 6y agoNo, it was designed to benefit the kind of people who designed it. Namely, bankers and statesmen.
- linuxftw 6y agoAgreed. Also, contrast the judicial system.
- anoraca 6y agoWe have the one of the most stable and globally valued currencies in the world. Our inflation rate is steady and well defined. That seems like a pretty enormous benefit to the American people. The profits go back to the Federal government: https://www.npr.org/2016/04/29/476203984/how-managing-money-creates-huge-profits-for-the-federal-reserve https://www.npr.org/2016/04/29/476203984/how-managing-money-... The "GlobalResearch.ca" website is for conspiracy theories https://en.wikipedia.org/wiki/Michel_Chossudovsky#Centre_for_Research_on_Globalization https://en.wikipedia.org/wiki/Michel_Chossudovsky#Centre_for...
- FriendlyNormie 6y agoKill yourself.
- kangaroozach 6y agoThat article doesn’t mention how the $100b in profit is distributed back to the Federal government. The profits are retained by the privately owned Federal Reserve and distributed to their secret list of individual owners. Also, the article says that there is almost no inflation (2016) but there should be inflation. They are using the wrong definition of inflation. The term is actually supposed to refer to inflation of the money supply not inflation of prices. Usually a consequence of inflation of money supply is inflation of prices, but there are other factors which can counter this and reduce prices. But even in 2016 there was inflation of the money supply by definition due to the newly created money by The Federal Reserve. More money means existing money has less purchasing power, so more of it is required to buy the same stuff (Or higher prices). But why could we have inflated money supply with steady prices? Perhaps because of technology. Tech creates efficiencies which make it cheaper to produce and sell goods and services. I’m sure there are other drivers, but that is a pretty powerful one.
- anoraca 6y ago100% of the profits are remitted to the Federal Government: https://www.nytimes.com/2018/01/10/business/fed-profits-treasury-2017.html https://www.nytimes.com/2018/01/10/business/fed-profits-trea...
- MR4D 6y agoThat was true before 1907 as well. While the pound sterling was reserve currency back then, WWI ended that. The combination of massive production and consumption of the US caused it to warn reserve currency contention, and then WWII dominance at Breton Woods cemented it. Also, inflation was lower before the Fed existed than after it.
- deleted 6y ago[deleted]
- FriendlyNormie 6y agoCareful, braindead retard dang likes to ban people for posting things like this because it’s “not what HN is for”.
- JamesBarney 6y agoUsually when we talk about ownership we talk about who makes decision and who gets the profits. The profits from the Fed go to the treasury, and the head of the federal reserve,who is appointed by the president. So for all intents and purposes the government owns the Fed.
- all_blue_chucks 6y agoYes but it gets its monetary authority from the federal government. Without them it is just another bank. So ultimately it answers to the government.