But of course it is.
It is a cabal of private bankers, who due to incredible stupidity and corruption, are allowed to print out money and set interest rates.
They only set the overnight rates.
But the hundreds of Billions of dollars in profits these bankers make via interest payments
The Federal Reserve does not make hundreds of billions in profit a year.
(that we HAVE to pay each year....or default)
You only have to pay interest when you borrow money.
is funded by the taxpayers.
It's true, taxpayers are on the hook for debts run up by the idiots in Congress and the White House.
It is not a Federal agency, and does not operate as one. There is no oversight, laws governing it employees are not Federal, and it is accountable to no one but itself. Our government makes arm gestures that it has oversight, but it does not. The Federal Reserve claimed a profit of about $90 Billion last year, but I don’t believe that number. And since the last independent, outside audit of the Fed was, well.......never, neither should you. Our interest payments on the debt are in the six figures of Billions per year.