5 ms·
You seem to have moved from "the government controls the issuance of money" to "a private organization that controls the issuance of money is sorta controlled b
by toomanydoubts 5y ago
You seem to have moved from "the government controls the issuance of money" to "a private organization that controls the issuance of money is sorta controlled by the government" really fast.
This are most definitely not the same thing.
- stephen_g 5y agoThe Federal Bank is only independent from the US Government in a very symbolic way. The system only exists as set out in US Legislation, the President of the US appoints all the board members and designates which is the chair, they all have to be confirmed by the US Senate, etc. etc. The "private ownership" in that member banks hold stock is also largely symbolic, given that they can't sell the stock and the stock doesn't give them any control, voting rights, etc.
- rtpg 5y agoCongress could, tomorrow, choose to just take control of the fed if it was being such a problem. They have done things to this effect many times in the past!