Lets stop with all the Trump BS and go deeper into the workings of the American empire.
Why does the United States have a private bank act as its central bank?
As far I can understand, the Federal Reserve can create wealth for its owners out of thin air, how is this possible, my mind is boggling, really.
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The US Federal Reserve
2017-02-10 18:46:43
2017-02-10 18:51:35
In reply to steveo
Somebody forget to change de contract..
2017-02-10 19:04:03
In reply to bravos
Somebody forget to change de contract..
I think if you examine history, any president that tried to end the federal reserve was killed
I am astonished such a system can rooted in the greatest democracy in the history of the world, this system is tantamount to a monarchy
2017-02-10 19:05:04
In reply to steveo
fiat currency
DEFINITION of 'Fiat Money' Currency that a government has declared to be legal tender, but is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of.
Summary: Market determines the worth of the dollar. USD change from being tied to gold a few decades back.
Does not matter if the currency is private, public or hybrid or virtual. The market dictates its trade value, therefore currency manipulation is rampant.
The delicate balance any country has is avoiding hyper-inflation if it prints wads of cash....
2017-02-10 19:07:32
In reply to pelon
DEFINITION of 'Fiat Money' Currency that a government has declared to be legal tender, but is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of.
Summary: Market determines the worth of the dollar. USD change from being tied to gold a few decades back.
Summary: Market determines the worth of the dollar. USD change from being tied to gold a few decades back.
I get all that.
How many countries in the world have a private central bank?
Does not matter if the currency is private, public or hybrid or virtual.
It does matter. What guarantee that the FED works in the interest of the country?
What is the need for this middleman bank? They are basically filtering the US's wealth thru their system to enrich themselves
How can you guys get vex when people are using the White house to market Ivanka's goods? The FED is the private fiefdom of a selected few that sucks the blood off the sweat of the entire nation.
If the Fed’s money comes ultimately from the taxpayers, that means we the taxpayers are paying interest to the banks on the banks’ own reserves – reserves maintained for their own private profit. These increasingly controversial encroachments on the public purse warrant a closer look at the central banking scheme itself. Who owns the Federal Reserve, who actually controls it, where does it get its money, and whose interests is it serving?
The operation:
Here is how it works: When the government is short of funds, the Treasury issues bonds and delivers them to bond dealers, which auction them off. When the Fed wants to “expand the money supply” (create money), it steps in and buys bonds from these dealers with newly-issued dollars acquired by the Fed for the cost of writing them into an account on a computer screen. These maneuvers are called “open market operations” because the Fed buys the bonds on the “open market” from the bond dealers. The bonds then become the “reserves” that the banking establishment uses to back its loans. In another bit of sleight of hand known as “fractional reserve” lending, the same reserves are lent many times over, further expanding the money supply, generating interest for the banks with each loan. It was this money-creating process that prompted Wright Patman, Chairman of the House Banking and Currency Committee in the 1960s, to call the Federal Reserve “a total money-making machine.”
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