May i ask who runs the congress now adays? Right oil tycoons with close connection with fed.... The United States is a classi example where the state struggles to battle the power of influence that privatised firms have in the us economies
Btw, that congressional thing?? Basically the federal bank submits a list of candidates for te congress to vote on... But its been preselected by the fed...
In a nutshell they have access to unlimited amount of money which doesn't really exist. The US treasury goes to the FED to "borrow" the money as yearly tax revenue is literally spent in a few days / weeks time by the government so they need to borrow. The money that is now tossed into the economy through government spending is now accessible to the people through many different avenues of gpvernment spending. Most all of it is then placed in the banks through personal deposits. The banks, through fractional reserve banking, are now able to loan out 9x the amount of money that they have on deposit back to the people who deposited the money creating interest off of the money that was created out of thin air by the fed in the first place.
The 7 founders of the Federal Reserve represented banks, wealthy families, and corporations who directly/indirectly controlled 1/4 of the world's wealth at that time so they came up with a way to gain access to "free money" and make interest off of it as they are a banking cartel.
Nowadays it doesn't matter who is in charge of the FED as the system is already in place. The government is able to borrow as much money as it needs and the banks are able to earn interest off of "free money."
