No, of course we should believe the Fed. After all, they're the ones who said they're not a government agency. Don't you believe them?
And as for their numbers, I do indeed believe them when they said they made 16 trillion dollars in secret loans to bail out their favorite banks.
Yes indeed, I do believe the Fed.
“No, of course we should believe the Fed. After all, they’re the ones who said they’re not a government agency. Don’t you believe them? “
Toddster may believe Congress, since they were the ones that wrote the legislation creating the Fed in 1913.
Congress created the Federal Reserve System out of private banks that were compelled to “buy” shares to belong to the System. Shares that they can’t sell and which convey no actual ownership. And it’s still made up of private banks to this day.