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While the Federal Reserve system has member banks, they only get a small slice (6% according wikipedia) of its profits with the rest going to the US Treasury. S
by aptwebapps 12y ago
While the Federal Reserve system has member banks, they only get a small slice (6% according wikipedia) of its profits with the rest going to the US Treasury. So it's not materially a private bank.
If the Fed is currently busy destroying the USD via inflation, it's doing a pretty poor job of it has kept inflation under 2% for quite some time now.
- anonbanker 12y agoCongrats on completely ignoring how the Fed no longer publishing M3 data[1], therefore concealing all aggregate money supply, would completely distort[2] any later inflation numbers provided (such as the percentage you just listed). 1. http://www.federalreserve.gov/releases/h6/discm3.htm http://www.federalreserve.gov/releases/h6/discm3.htm 2. http://mises.org/library/death-m3-fifth-anniversary http://mises.org/library/death-m3-fifth-anniversary
- aptwebapps 12y agoM3 might help you make predictions about inflation but you don't need it to measure it.
- anonbanker 12y agoIndeed. you especially don't need to measure it if you're intentionally not paying attention to inflation.
- aptwebapps 12y agoI was too free with my pronouns. You might like to know M3 to think about inflation, but you don't need M3 to _measure_ inflation.