This is Going to Sound Harsh...
November 19, 2020 5:32am CST
But, it is my belief that if one believes that the Federal Reserve is owned by the US Government, they are in no position to argue any points about money or fiscal matters. The Federal Reserve is a group of banks set up as private corporations. The Board of Governors is funded by the banks they represent. Not from the federal government. In a way, it is a shadow government. The Board of Governors that direct it are accountable to Congress, but they are not accountable to or elected by the people. So, when we talk about the national debt, we are talking about what we owe private corporations. When I was a kid, the debt "owed" to the Fed per person was roughly $10k in the US. 30 years later, I "owe" $70k. So do you. And, this number is rising every second of every day. Google the national debt clock to watch it rise in real-time. Now, the kicker here is that even if we paid back every penny of the money we borrowed, because we don't own the money that is printed, we can't pay back interest in the form of money. In other words, take every single dollar out of circulation, and we still owe interest because the interest was never turned into money. So, how can we ever escape our national debt?
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