Since the Federal Reserve is private...?

...and the US dollar is not based on gold. Then isn%26#039;t the devaluing of the dollar from inflation caused by wreckless printing and lending also a form of taxation? (if not robbery)

Something fathomable when, under the guise of a Federal Department, they are truely a phantom corporation...with just as much accountablility. So, on one end: the middle class labors away for this paper that really only goes down in value and their wages are based on minimum wages which only go up incrimentally (2-5 years) cause if they don%26#039;t stagflation is inevitable...and on the other end: The Fed Reserve lends the money and prints it, which acquires more assets for them and simultaneously less wealth for consumers who own dollars because there%26#039;s more of them. How is this not exploiting the labor of Americans?

Since the Federal Reserve is private...?money

So how many countries currency is backed by 100% gold? Flipen euro is %15 percent. Big deal. Unless i could go down and get a %26quot;dollars%26quot; worth of gold any time i wanted. It%26#039;s all worthless paper.

If anyone wants to give me 100 dollars i will give them 20 dollars worth of gold Anytime they want :) 20% better than the euro :)

Since the Federal Reserve is private...?

loan

The Federal Reserve System is run by the Federal Reserve Board - and they are not a private organization.

Its members are appointed by the President, and confirmed by the Senate. It%26#039;s activities are subject to scope defined by congress, and are audited by the GAO. Net revenues are paid to the US Treasury. Sure it operates with and through private sector entities, as does almost every government body. If the Fed is private, so is the Pentagon.

The Fed does not print money - the Department of the Treasury does.

One of the key responsibilities of the Fed is to manage inflation - not create it.

As for assets aquired by the Fed - these belong to the US Treasury.