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The Fed is a private institution, though a small stake is owned by the US government. So it's not really one part of the state lending it to another part of the
by oneplusone 17y ago
The Fed is a private institution, though a small stake is owned by the US government. So it's not really one part of the state lending it to another part of the state.
- DougBTX 17y agohttp://www.federalreserve.gov/generalinfo/faq/faqfrs.htm#5 http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm#5 "It is not 'owned' by anyone and is 'not a private, profit-making institution'. Instead, it is an independent entity within the government," however for our purposes this quote is probably more relevant, "the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government." So, independent, but founded to enact government policy.
- mati 17y agoWhile your summary is technically correct, just look at any of your bills. What does it say? "Federal Reserve Note". Your money is not printed by your government. With all the implications that carries, including your government lending it from FED on interest.