The Federal Reserve

The Federal Reserve sounds like a portion of the government, right? Which department is it under? Treasury, right? The Federal Reserve is responsible for keeping a reserve of 'money' or gold, right? Wrong. None of these are the case. The Federal Reserve is a syndicate or cartel of banks. It's not 'federal' and it's not a 'reserve'. It is not a branch of the government nor does it answer to the government. It's more accurate to say that the government answers to the Federal Reserve. When the government borrows, the government doesn't decide the interest rate at which to pay back that loan. Guess who, or more accurately what, does decide the interest rate on a government loan? The Federal Reserve.

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