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Not a dime of your income taxes go toward government services. It goes to pay interest on money that never existed to begin with. So basically the federal reserve collects principle on money they never loaned out (there was no money to loan out to begin with) as well as collecting interest. Federal reserve notes are basically IOU's with nothing backing them accept the assets the federal reserve owns (junk government treasuries). If this is above your head (I really didn't get how it could work until it finally hit me), youtube Edward Griffin.
why would anyone subsidize the pockets of federal reserve shareholders?
Um, you mean your pockets? You are a Federal Reserve "shareholder."
The Federal Reserve is not a publicly traded corporation. It is a private corporation under government charter and there is one shareholder: the People of the United States.
Um, you mean your pockets? You are a Federal Reserve "shareholder."
The Federal Reserve is not a publicly traded corporation. It is a private corporation under government charter and there is one shareholder: the People of the United States.
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