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Originally Posted by CaptainHaplo
Now - the Federal Reserve itself is not owned by, or controlled by the Federal Government.
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It doesn't have an "owner" anymore than any other agency has an "owner". One of the membership requirements of being a part of the Federal Reserve system is that you must be a stockholder of a Federal Reserve Bank. This stock cannot be traded, sold, pledged or otherwise transferred. This "stock" isn't like traditional stock shares as there is all one class and every shareholder has one vote regardless of how much stock they own.
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Yes, it is "audited" - but do you have any idea what Congress gets to do if they don't like what they find?
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Cute how you put "audited" in quotes. But here you go - the findings and recommendations of one of the latest GAO audits of the Fed:
http://www.gao.gov/assets/660/654462.pdf. So THAT'S what they can do. Congress can pass laws to alter the Fed's mandate. Congress could also go so far as to abolish the Federal Reserve if it chose to do so by repealing the Federal Reserve Act of 1913.
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As for the Board of Governors being appointees - so? The board is not mandated to conform to the political will of the government
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That's the whole point. It's about keeping politics out of the monetary policy of the United States.
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The governing board is an independent federal agency - but the Reserve itself is not. As for governmental control, you might ought to check and see what "independent" means - the president can't just "toss em out" if they don't go along with his political wishes....
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None of what you just wrote makes any sense at all.
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This is why money is lent by the FR to the government - at a specified interest rate! If the FR was government - it wouldn't be charging itself interest.....
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No...just no. You are demonstrating a profound misunderstanding of the Federal Reserve system. The Federal Reserve doesn't lend money to the government. The Fed lends money to its member banks. The Federal Reserve also rebates all interest it earns back to the Treasury.
You are out of your depth in this. Might be time to graciously bow out and appreciate the education you've received here instead of trying to twist and contort things to try and claim you're not completely wrong, which you are.