Re: Confused about the Federal Reserve?

"phil scott" wrote in message ...
An explanation of how the private Federal Reserve Banks generate
wealth for themselves.

<snip>

You make it sound like the Fed is an independent corporation, or group of
people. It isn't: it's an extension of the US government. Any money created
is a benefit to us, the U.S. taxpayer. When gov't debt is monetized, we
don't have to repay it.

Dan in Philly



.

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