Re: Confused about the Federal Reserve?

On Nov 26, 6:20 pm, "Dan in Philly" <d...@xxxxxxx> wrote:
"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

the fed is ovetly private..always was... with trimings to make it
appear on the level with US govt ..it isnt.
like any fraud, looks are decieving... dig into it, you will see.

that last sentence of yours is true and reveals that we pay
immediately...due to depreciation of existing dollars when new ones
are printed to offset debt... (inflation).... the fed also loans money
at interst to member banks..those lend to us at interest of course...
half of that or whatever goes back to the fed..as profit to its
federal reserve banks, owned by individuals.


Phil scott


Phil scott
.