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I think the issue goes deeper. Not enough people are willing to look at the root of the problem: the monopoly on the issuing of currency and credit in the US th
by ferdo 13y ago
I think the issue goes deeper. Not enough people are willing to look at the root of the problem: the monopoly on the issuing of currency and credit in the US that is held by private interests. When private interests control the volume of currency, they control the material life of the country, including the government. The growing imbalance of wealth and income is a direct result of this cause.
Tax reform is a good idea but it's meaningless if it leaves the nations's ownership of currency and credit in private hands.
- tedsanders 13y agoThe Fed is not run by private interests. What are you talking about?
- ferdo 13y ago"Instrumentalities like the national banks or the federal reserve banks, in which there are private interests, are not departments of the government. They are private corporations in which the government has an interest." Justice Louis Brandeis, US Supreme Court, 1928 http://openjurist.org/275/us/415 http://openjurist.org/275/us/415
- tedsanders 13y agoThe Fed is not run by private interests. The president appoints its members. It has a dual mandate of low inflation and low unemployment. So...?
- ferdo 13y agoThe Federal Reserve is owned by private interests with aspects of a public utility. It's the worst of public and private mixed in one package. As Justice Brandeis said, it's a private corporation in which the government has an interest. The Fed of SF has an interesting summary: > "Is the Federal Reserve a privately owned corporation?" > Yes and no. http://www.frbsf.org/education/publications/doctor-econ/2003/september/private-public-corporation http://www.frbsf.org/education/publications/doctor-econ/2003...