Pointing out your bad math means I like the Fed? LOL!
Why should a private corporation control our money supply?
That's easy, they aren't private.
You really do believe the lies, don’t you.
Just because the federal reserve web site says it’s not a private company (actually each district is it’s own financial corporation), does not make it so.
You may be familiar with Hoovers. The people who do research on every publicly and privately traded organization in the US? They list the various federal reserves as private corporations...
The following is from the federal reserve website....
he twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation’s central banking system, are organized much like private corporations—possibly leading to some confusion about “ownership.” For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.
......now back to actual facts, the following loans from the federal reserve was the part of the “too big to fail” fiasco - they loaned money DIRECTLY to these institutions
Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
“All Other Borrowers” - $2.639 trillion
That adds up to 16.1 Trillion..
if the Fed has ONLY 4 Trillion, how did they LOAN 16 Trillion?