The title is a lie, my statement intended to point that out.
Are you saying people who work at the Fed aren’t beholden to corporate interests just because there aren’t shareholders?
No, I meant exactly what I said: It’s not privately held, and the profits it makes go to public coffers not to private owners.
The same fed that has the keys to the money printing machine, bank lending programs, and powers for short term low interest loans used to “stabilize market conditions”, not to even mention the revolving door of regulators moving to private positions after their time deeply embedded in our financial institutions?
Disagreeing on Fed policy is very different than claiming the Fed is a privately owned institution that seeks out profit for itself.
There’s no secret meaning to what I wrote, and I never said the Federal Reserve was benign or without faults. All I said was the title got it wrong, and it did.
Your comment seemed like a non-sequitur, but mostly because the title didn’t seem to be literal to me and more of a statement on corruption. Normally, when people make what I believe to be non-sequiturs, it’s because there’s an additional point they’re trying to make that would make that non-sequitur click into place.
I can see how you read the title like that, I might have done the same but I’ve heard this exact misconception a lot from YouTube and Reddit. Not sure where it originates, but a lot of people seem to think it’s literally true.
That is…scary. Yeah I’m all for calling our current system of governance a keptocracy or make comparisons about “buying a ticket to congress”, but if those statements are being taken literally then getting us to a place where those aren’t just little quips and more of a reality is going to be easier than I thought.
The title is a lie, my statement intended to point that out.
No, I meant exactly what I said: It’s not privately held, and the profits it makes go to public coffers not to private owners.
Disagreeing on Fed policy is very different than claiming the Fed is a privately owned institution that seeks out profit for itself.
There’s no secret meaning to what I wrote, and I never said the Federal Reserve was benign or without faults. All I said was the title got it wrong, and it did.
Your comment seemed like a non-sequitur, but mostly because the title didn’t seem to be literal to me and more of a statement on corruption. Normally, when people make what I believe to be non-sequiturs, it’s because there’s an additional point they’re trying to make that would make that non-sequitur click into place.
I appreciate the clarity.
I can see how you read the title like that, I might have done the same but I’ve heard this exact misconception a lot from YouTube and Reddit. Not sure where it originates, but a lot of people seem to think it’s literally true.
That is…scary. Yeah I’m all for calling our current system of governance a keptocracy or make comparisons about “buying a ticket to congress”, but if those statements are being taken literally then getting us to a place where those aren’t just little quips and more of a reality is going to be easier than I thought.
That only makes it worse. “I only lied about bad thing X being Y because I want to attach bad connotations to Y”.