- Thread starter
- #61
READ MY LINK IDIOTS!
The Fed is “privately owned” in the sense that member banks that join the Fed umbrella are required by Law to put up money to purchase an amount of shares of the Fed.
Those are non-voting shares. Shares cannot be sold or traded. Dividends are fixed at 6% by Law.
The reality is more like the “owners” are owning the equivalent of a “security deposit” such as when a firm leases a warehouse or retail space to conduct business, they will likely have to put up a security deposit.
So if the Fed is “privately owned”, but Congress can control and change the Laws governing Fed operations by passing legislation or rules changes — and has, over 200 times — and the President gets to appoint (but not fire) the Chairman and Board of Governors, with confirmation by the Senate ..
So you no have issue with the interest being charged for "borrowing" the money for your programs at interest?
I have a problem with double digit inflation. That is what the Fed is fighting. Your orange king doesn't get it.
You can wait until it happens before you do something about it.