Quote:
Originally Posted by campimp
1) The U.S. issues Treasury Bonds
2) The Federal Reserve Buys these bonds from the government
3) The Fed buys them with a book keeping entry (yes, that means out of thin air)
4) the free money is then sent into the American government
and in case you were wondering... the fed reserve is the biggest scandal in american history (more so than monica lewisnky even) completely against the constitution to have a private company in control of the countrys money supply
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Not that I don't agree that the situation's been fucked pretty much ever since Wilson's presidency...
but where, exactly, is the Fed "completely against the constitution"?
Coining money and regulating commerce are powers reserved for Congress - but I don't believe there's any stipulation on whether or not they can employ a private company to facilitate the matter.... seems a bit overly specific for the U.S. constitution.