Franchise ?? Like Kentucky Fried Chicken? There is probably nothing you have more wrong than this statement above. The Fed is part of the overall Treasury - Central Bank Operation. The Fed creates money when the Congress appropriates Treasury spending in excess of Treasury income. They have no choice. The Fed accommodates Treasury spending by covering Treasury overdrafts. The net Treasury overdraft covered by the Fed during any accounting period equals the addition to the aggregate deficit. This is not rocket science. It's the Congress that appropriates money. Not the Fed!
Were does it say the Fed is not private. There have been people that believe the Fed is private for a long time. This is not new. Why does piezo act like this is new.
Look its Piezoe the clown... the clown always comes out when he cant go more than one post deep. Now he does not even understand the meaning of the word franchise. fran·chise an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, e.g., providing a broadcasting service or acting as an agent for a company's products. 2. Why the fuck are misrepresenting facts? We know the The FED creates money when the Govt needs it... true. But.. .they also created 9 trillion on its own during the mortgages crisis. And trillions more during the Covid Crisis. And trillions more for other purposes. Did you just lie? Did you deny the Fed creates money on its own. I have proven this too you many times in the past.
100% of that is debited to the Treasury's Reserve Account! IT IS NOT THE FED SPENDING THIS MONEY. THE FED , BY LAW, MUST ACCOMMODATE IT. And thank goodness for that. And thank goodness we have done those things.
You've not followed Jem's and my posts. No one is disputing that there have existed for years conspiracy theorists that believe the Fed is a private for profit bank/ Jem is only one of them.
Prove that statement... That appears to be a GWB-isliar type statement.. I have showed this too you before... and then you turned into Piezoe the clown. It took a bloomberg law suit and a few years to get the Fed Reserve to disclose the fact they gave out 9 to 13 trillion... https://www.bloomberg.com/news/arti...d-to-congress-gave-banks-13-billion-in-income Here is the FED balance sheet notice it now has 8 trillion in assets recently exploding up from 4 trillion. https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm It bought those assets with money it created out of thin air. Congress did not borrow that money. The FED just created it.
You have never once named the Govt as a share holder in the Federal Reserve... Its not a conspiracy its the truth. its a privately owned corporation. It has shareholders and shareholders are not the Government. Its employees are not govt employees.
Take your crackpot conspiracy theories to the Court, which disagrees with you, and see how far you get. .
The Fed never "gives" money away. It only loans with collateral and interest.. You routinely confuse the Treasury which is the conduit for Federal created money to move to the private sector with the Fed which is the banking half of the combined Treasury Fed operation, though by law they are made to appear as separate parts of Government ..