Believe it or not, your questions can be answered in simple language without any obfuscatory bs.
(1)So, is the Fed controlled by private interests?
(2)Is it a Federally controlled entity because it was created by an Act of Congress?
(3)Are those two concepts mutually exclusive?
The fed was created subsequent to the constitution because generally speaking the constitution is a magnificent, well thought out contract, but it left out the concept of control of the money supply.
It assumed, as a vast majority of the population assumes that there is something sacred and stable about money.
The government discovered early on that you don't need to tax the people, which causes you not to get elected if you can borrow the money to run the government, and then print money so you can pay the debt back in worthless paper.
This is the big secret of the huge increase in the money supply during the last ten years.
The fed was installed by the banks, because they are the only ones hurt by this. The debtor public doesn't really care unless they buy government debt.
But then they are bled to death so slowly that the get used to it.
The only danger in all of this is that if the money is made worthless too quickly then there will be a crash re-adjustment called a depression.
The Banks run the fed, so when this gets close you see a credit shrink like we have now.
The "fed prime" interest rate is a shame, you can borrow money to buy a house, which proceeds go to pay a bank back,
BUT AT THIS MOMENT IF YOU TRY TO BORROW FOR ANYTHING ELSE, GOOD LUCK.
Since the banks have already been clued in, they will not be hurt.
The fed is federally authorized but it is an independent entity. It is not subject to control by the legislature. This of course is by design.
And unlike a number of posters who like to pontificate on this issue, I actually know of which I speak.
Hope this helps.
Duke
Vote for me, and I'll fix this stuff in about 30 minutes. |
