> The Fed generates profits for its shareholders. (from the article)
I wish I had something more articulate to say; this truly boggles my mind how this would benefits the American people. It should benefit us as American's right?
I wish I had something more articulate to say; this truly boggles my mind how this would benefits the American people. It should benefit us as American's right?
The profits go back to the Federal government: https://www.npr.org/2016/04/29/476203984/how-managing-money-...
The "GlobalResearch.ca" website is for conspiracy theories https://en.wikipedia.org/wiki/Michel_Chossudovsky#Centre_for...
Also, the article says that there is almost no inflation (2016) but there should be inflation. They are using the wrong definition of inflation. The term is actually supposed to refer to inflation of the money supply not inflation of prices. Usually a consequence of inflation of money supply is inflation of prices, but there are other factors which can counter this and reduce prices. But even in 2016 there was inflation of the money supply by definition due to the newly created money by The Federal Reserve. More money means existing money has less purchasing power, so more of it is required to buy the same stuff (Or higher prices).
But why could we have inflated money supply with steady prices? Perhaps because of technology. Tech creates efficiencies which make it cheaper to produce and sell goods and services. I’m sure there are other drivers, but that is a pretty powerful one.
Also, inflation was lower before the Fed existed than after it.
I question that. Go read “The Panic of 1907” and I think you will question it as well.